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BROKER AVATRADE: ADVANTAGES X DISADVANTAGES
AvaTrade is easily regarded as one of the leading exchange brokers, with offices in Dublin, Sydney, Milan, Tokyo and New York, to name a few. It would be unfair if we considered AvaTrade as a simple world broker. This brokerage offers exchange brokerage services to virtually every country and its software is provided in dozens of languages and with customer support.
This broker also complies with the European Union’s Financial Instruments Markets Directive (MiFID) and is regulated by the Central Bank of Ireland, which means that it complies with all applicable laws.
Types of Accounts
As it becomes an ever-growing and more popular company, AvaTrade begins to provide different features. For example, it currently offers five separate account types for those who are interested in this area of business activity. Here is some information on some of these types of accounts.
Demo account: This type of free account helps those interested to learn how to conduct their business without risking losing capital. The demo account is meant to practice business skills, which can make all the difference in the long run.
Silver Account: AvaTrade Silver account is for those who want to make a minimum deposit of $ 100 to $ 1,000. This account is like an account for beginners, but you still get certain benefits, such as customer support and the ability to use all AvaTrade platforms.
Gold Account: The next type of account is the Gold account, which is for those who want to deposit between $ 1,000 and $ 10,000, so it’s a very broad category. Of course, it also gives you access to all eight AvaTrade platforms, customer support, custom analytics to help you make better business decisions, and more.
Platinum Account: For investors who want to invest $ 10,000 or more, the AvaTrade Platinum account has many features. This type of account gives you all the benefits of all previous accounts, even better customer service, real-time alerts, greater leverage, and more.
AvaSelect: The latter type of account is for investors who want to maximize their profits through foreign exchange operations, with investments in excess of $ 100,000. The advantages of this type of account are plenty, including personalized customer support, a personal agent available anytime and day of the week, complete training, helpful tips and more.
Benefits
Each account type comes with a variety of custom features to help investors gain as much as possible; Dozens of languages are supported; There are eight separate platforms to conduct business; This brokerage serves a very diverse target audience, whether experienced or inexperienced; This brokerage provides complete training and manages to make anyone really understand the foreign exchange market.
Advantages
Simplified software; Great bonuses and promotions; Many Educational Resources; Various commercial tools; Multiple platforms; Relatively low minimum deposit ($ 100); Commercial stability and honesty; Licensed and regulated broker.
Disadvantages
It is necessary to make a relatively large investment before enjoying all the benefits; Platforms may take some getting used to; The demo account does not grant all platform options; Withdrawals from relatively slow funds.
summary
Unlike many brokerages with a more devious disposition, AvaTrade is a fully licensed and regulated brokerage company operating worldwide. It’s not just a new company dedicated to the quick sale of software to enrich from one hour to another. This brokerage firm deals with real brokers, whose success depends on the success of the forex trader, which is why it offers many tools and platforms to all its currency traders. When the exchange trader does not win, AvaTrade also does not win.
BROKER EASY MARKETS: ADVANTAGES X DISADVANTAGES
Founded in 2001 and launched on the internet a few years later, Easy Markets is a brokerage house popular in dozens of countries. This brokerage firm is licensed by the Cyprus Securities Commission (CySEC) and the Australian Securities and Investments Commission (ASIC), with the Australian License for Financial Services (AFSL), and operates mainly outside Cyprus, although it is a company Coming from Israel. Although it does not accept American investors, this brokerage still managed to gain much popularity worldwide.
Types of Accounts
There are three types of accounts on the Easy Markets website: Standard, Premium and VIP. Each account type has distinct characteristics, but all four types of accounts are provided with the normal benefits and services, including personal training, live chat, and access to the broker’s platform.
Standard Account: The Standard account only offers the above mentioned basic services and a free virtual money demo account to try out the platform. Standard accounts do not have minimum deposits but have a fixed minimum of $ 5,000 for performing foreign exchange transactions.
Premium Account: With a minimum of $ 1,500 the Premium account can be opened on the Easy Markets website. There is a fixed minimum of $ 50,000 for performing foreign exchange transactions. In addition to all the benefits of the Standard account, the Premium account also grants you greater leverage, own professional graphics, access to search tools, personal training, business alerts via SMS, and more.
VIP account: VIP account is taken very seriously by Easy Markets. Not only do you get all the features of the accounts mentioned above, but you also get daily market calls from dealers, caller levels, and customized reports on technology reviews. You must make a minimum deposit of $ 15,000 to open a VIP account.
Benefits
Overdue interest accounts; Multiple versions of the same platform; Currencies and commodities available; An organized environment (by browser); Free personal training with an account; Indicated for experienced and inexperienced exchange traders.
Advantages
Fixed low spreads; Pairs of currencies and commodities available; Works with MetaTrader platform; Offers a platform version for mobile devices; Minimum initial cost of only 25 $; Fast and efficient deposits; Fractional pips; News of the foreign exchange market; Mobile alerts via SMS; Simplified operation.
Disadvantages
Residents in the United States are not allowed; The contests or bonuses are scarce or nonexistent (at the time of this review); Customer support seems to be slow; The stop loss function is difficult to set up for beginners.
summary
As with any other currency broker, we expect that there are more advantages than disadvantages, and that the former are more important than the latter. This seems to be the case when you consider Easy Markets as a whole. For nonresident investors in the United States, there are several good points with this specific brokerage, such as a quality platform, a low minimum investment, a simplified interface and a fast and efficient customer service.
This brokerage seems to do a good job of guiding investors through the process, helping novices to really win the market so they can open even larger accounts. Some of the disadvantages that have been presented here really stand out, such as stop-loss functionality and the fact that leverage is lower than that offered by other brokerages, but the advantages demonstrate “low risk.”
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BROKER XTRADE: ADVANTAGES X DISADVANTAGES
In operation since 2003, Xtrade is a UK-based exchange brokerage company which is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investment Commission (ASIC) and the Financial Services Authority (FSA) from UK. Formerly known as Webgine Ltd, this company now has another designation: O.C.M. Online Capital Markets Ltd; XTrade is simply the name of the broker. Over the years, mixed comments have emerged about XTrade’s services, so we decided to look at them.
Types of Accounts
XTrade does not offer any type of account for residents in the United States; But for residents in other countries, it offers three types of accounts: demo account (demo account), Standard account and Premium account. Learn more about each type below.
Demo account: Like most brokerages and platforms that are available, the XTrade demo account is provided upon registration. However, there are several types of demo accounts, but this allows new currency traders to try the platform.
Standard Account: With a minimum deposit of $ 100, you can open a Standard account with XTrade. This type of account grants access to personal training, various tools and reports; And the use of this type of account does not involve the payment of commissions or fees.
Premium Account: In addition to the demo account and all the features of the Standard account, the Premium account can be opened with a minimum of $ 1,000. The Premium account provides immediate execution of stop-loss orders, fixed spreads, a higher level of security and more financing options for the account.
Benefits
Unique and easy-to-use proprietary platform; Seven languages available to international exchange traders; Immediate registration and commencement; Frequent reports of “market scenarios”; Various contests and promotions; Three versions of the demo account.
Advantages
Easy-to-use features and a simplified platform; Two metals are also available in addition to the 21 pairs of coins; Competitive fixed spreads; No withdrawal fees or foreign exchange transactions; 20% deposit bonus for new accounts; Features easy to set up; Efficient online platform; Calendar of daily events; Point acquisition system for exchange operators; Marker watcher.
Disadvantages
There is not much information about the company on its own website; Occasionally slow customer support; The use of hedging is problematic; Only foreign exchange traders are allowed in the United States; There are no fractional pips; Automated business activity functionality is not available; The MT4 platform is not available.
summary
Once we’ve done the right research on XTrade, we’ve found lots of mixed reviews. While some have difficulty using the platform, others do not have this problem. The bottom line is that XTrade is not an ideal brokerage for inexperienced currency traders; However, for exchange traders who know how currency markets and platforms work in general, this brokerage is indicated.
There are many options for making deposits and withdrawals, various opportunities to earn points and prizes, lots of training with the various types of demo accounts, and you do not have to spend a lot of money on an account to take advantage of this brokerage’s best.
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BROKER YOUTRADEFX: ADVANTAGES X DISADVANTAGES
In business since 2009, YouTradeFX is a relatively new brokerage company that has helped foreign exchange traders conduct foreign exchange transactions through the foreign exchange market. In London, Youtrade Holdings Limited / YouTrade Capital Markets PTY LTD represents a reputable and regulated company in Mauritius, Australia and the United Kingdom, and has a license to operate in several countries. In just three years, YouTradeFX has developed an excellent reputation in the foreign exchange market.
Types of Accounts
YouTradeFX offers four types of accounts to exchange operators, namely: demo account, Standard account, Premium account and ECN account. Each account has advantages and disadvantages, so please read the following carefully.
Demo Account: The demo account is free of charge to anyone who registers on the YouTradeFX website. This type of account works just like a real account, and to ensure that new users experience the platform (the platform they choose to use), it is recommended to do so with $ 50,000 in cash and advice from the YouTrade specialists.
Standard Account: Any account is provided with a free demo account; In addition, the Standard account offers low fixed spreads, contracts available from 0.1 lots, a leverage of 1: 300 and access to various brokerage features such as customer support and technical analysis. It takes $ 2,000 to $ 10,000 to open a Standard account.
Premium Account: Starting at $ 10,000 and with a maximum limit of $ 100,000, the Premium account provides exchange operators with everything they need to start their business, including a variety of special features and access to the brokerage’s VIP materials. With a leverage of 1: 200 and fixed spreads as low as 2, this is certainly an account for currency traders willing to invest considerable monetary amounts.
ECN Account: YouTradeFX’s ECN account is one of the most popular of this brokerage. It takes $ 1,000 or more to open this type of account, but users get access to customizable features and maximum leverage of 1: 300.
Benefits
$ 100 registration bonus; 50% deposit bonus for larger accounts; Several platforms available, including mobile options; Possibility to transact commodities, stocks, and contracts for differences (CFD); Ensure no slippage; Custom account available; Commercial activity functionality through telephone and social networks.
Advantages
Efficient and easy-to-use interface; News and graphics sources; Good trade signs; Instant execution; No requote; Various types of accounts; Mobile alerts; Automated business activity; Business activity with a single click; Many commercial options available, in addition to currency pairs; Multiple bonuses; Brazilian customers are welcome.
Disadvantages
Stop loss transactions are not guaranteed; There is no interest on margins; Customer support is closed one day a week; The daily update of signals is only available for active accounts with more than $ 5,000; The teaching structure is not the best for inexperienced foreign exchange traders.
summary
YouTradeFX offers exchange traders many more options than any other brokerage. Not only does it offer more types of accounts, including a customizable ECN account, but the MT4, MT5, iPhone, WebTrader, Mobile Trader, ZuluTrade and others platforms are also offered. Obviously, the objective is to provide exchange traders with the best tools available and an atmosphere conducive to using them.
It also offers great bonuses and various prizes. In general, YouTradeFX is a stable brokerage for exchange traders of any level of expertise. Since only $ 100 is required to start and considering the fact that there are accounts for high rollers, seasoned exchange traders will surely feel like they are at home.
GT3 RS. - Picture by Kevin Van Campenhout http://flic.kr/p/CgF14h