Forex trading is a lucrative business. However, many traders often end up getting damned by the brokers they use. To benefit maximally from the Forex market, you must use a broker that is generally reliable and offers excellent trading conditions and competitive trading costs. That is, you could use a broker like 70Trades.
Here is our review of this broker that is revolutionizing the way the Forex brokerage business is done.
70Trades offers brokerage services on Forex and CFD trading of stocks, currencies, indices, and commodities. The broker holds its clients’ funds in high regard. It segregates the accounts in which they are kept and ensures that those funds are protected at all times. While there can be skepticism about the strength of the regulatory framework of the country in which it is licensed, it is very important to note that the broker has proved — and continues to do so — that it is genuine.
Trading Platforms Supported
70Trades does not use MetaTrader 4, which can be contrary to the popular industry expectation. However, it offers the PROfit platform in the two forms: web and mobile. The web-based version of the PROfit trading platform has a highly user-friendly interface, instantaneous execution of trades functionality, and real-time market and data feed.
Likewise, the mobile version is convenient and easy to use. Still, however, it neither lags nor lacks, also, in any of the features the web-based version supports. Traders can conduct their analyses, monitor the markets, and enter and exit trades all on the go! And no matter the device you use, smartphone or tab, Android or iOS, you can be sure that compatibility will never be a problem.
Offered Trading Accounts
70Trades offers two primary account types: demo account and real account. These two accounts successfully cater to the needs of a wide variety of traders seeking to learn and to earn from the Forex market. The demo account is provided with $100,000 in virtual funds which the client can practice with, without incurring any fee.
The real account has all the tools and functionalities provided by the broker enabled. Its minimum deposit requirement is just $200. And to register, you do not have to pay any fee. 70Trades also offers a leverage ratio of 1:200, one of the highest in the industry. As a result, users have a high profit-making potential to exploit.
Customer Support Service
70Trades has a customer support service that attends to the enquiries and complaints of clients. This service is provided through the three popular channels of email, phone, and live chat. The live chat, integrated with the trading platform itself, is the fastest of the three.
70Trades’ customer support service is offered 24/7. Since its clients are drawn from multiple countries with different tongues, the service does not come only in English, but also in French, Arabic, Italian, and even Spanish! Therefore, no matter your preferred language, you will always be able to have your needs attended to by 70Trades.
Another interesting feature of 70Trades is the professional advisory role it assumes for its clients. Hardly is there any other broker that goes to such length for clients — at no additional cost. As a result of the role, every user has access to the broker to enhance their trading skills and to help them take the right trades.
A standard broker should seek to educate its clients. It is a test to which you should subject any broker you want to use. In this regard, 70Trades excels. It provides professional trading advice to its clients, which is geared towards birthing expert traders. This professional advisory service is divided into three levels: beginner, intermediate, and expert.
The service is aimed at introducing newbie traders to the basics of Forex trading from which it walks them through to professionalism via the teaching of advanced Forex trading skills such as technical analysis and risk management. Both the professional advice and tutorials cover a wide range of products from gold to oil.
Additionally, 70Trades avails its clients with analysis tools such as real-time data on the market, an economic calendar, and similar resources. Consequently, using the broker and adequately exploiting the educational and analysis resources it provides, will ultimately make you a Forex success.
Deposit and Withdrawal
Before you use any broker, first check for the methods of deposit and withdrawal it offers and the ease of use of those methods. Most fraudulent brokers perpetrate their heinous acts here. They make depositing easy but withdrawing hard. However, 70Trades is a broker you can trust in this regard.
It provides deposit and withdrawal methods which include bank transfers, credit and debit cards and electronic wallets such as Skrill. With the broker, depositing and withdrawing are both easy. You do not need to fill any form and your withdrawn amounts are credited in no time.