Basic information
The broker, with 9 years of experience in the industry, provides medium-length services. TrustPilot's rating of 2.7 raises questions about its customer satisfaction levels. It should be noted that the company is backed by regulation from ASIC, FSP, FSCA, and SVGFSA, indicating its commitment to adhering to security standards and complying with legislation in the relevant jurisdictions. However, given the vastness of the market, it may be worth considering additional licences to increase customer confidence.
Support and education
The broker provides 24/7 support and service in 8 languages, which creates a convenient environment for clients at any time of the day. The availability of introductory videos and videos on working with the platform, as well as on depositing and withdrawing funds, enriches the educational experience. A comprehensive glossary and articles provide clients with quality educational material. The lack of trader calculators, courses and certifications can diminish analytical and educational opportunities. Webinars and offline sessions are not currently provided.
Promotions
The broker provides a variety of bonus opportunities for clients. Welcome bonuses of up to 50% exist, but are accompanied by additional conditions. There are also bonuses for subsequent deposits, providing clients with additional financial resources, subject to certain conditions. Cashback is available as an independent bonus, but also comes with additional conditions. Regular tournaments with cash prizes create additional opportunities for customers to try their hand at competition. The "Bring a Friend" promotion gives customers the opportunity to earn over $200 for each friend brought in, but also has additional conditions for participation.
Platforms
The broker supports both popular trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5), and also provides its own trading platform. The broker has implemented social copy-trading, which can be attractive for traders who want to share and follow the trading strategies of other participants. The only signal provider also provides additional opportunities to analyse the market. This information is useful for those who value platform diversity and social features in trading.
Trading
The broker provides Islamic accounts that comply with the principles of Islamic finance. The maximum leverage on the platform is 1:1000, providing traders with a high degree of leverage to maximise profit potential. The minimum leverage is set at 1:100, providing a more conservative approach to risk management. The total number of assets on the platform can reach up to 10,000, providing traders with extensive opportunities to diversify their investment portfolio. The presence of the commodity rollover opens up additional strategies for trading on the commodity market. However, it should be noted that there are no synthetic assets on the platform, which may affect some trading strategies.
Deposit and withdrawal
The broker provides trading accounts in major forex currencies (FX Majors), with no withdrawal or deposit fees. The minimum deposit is $50, ensuring accessibility for various traders. The minimum withdrawal amount is set at $40, which allows for efficient fund management and withdrawal in accordance with users' requirements.
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Risk Warning
Before embarking on Forex trading, it is essential to thoroughly evaluate your investment objectives, level of experience, and risk tolerance. Never allocate funds that you cannot afford to lose.
Off-exchange foreign exchange transactions carry significant risks, encompassing leverage, credit risk, limited regulatory protections, and market volatility. These factors can significantly influence currency prices and liquidity.
Furthermore, the leverage inherent in forex trading means that market fluctuations can result in substantial gains or losses relative to your initial investment. If market conditions go against you, you may risk losing your entire initial margin and be required to inject additional funds to maintain your position. Failure to meet margin requirements may lead to position liquidation and subsequent losses for which you bear responsibility
Before embarking on Forex trading, it is essential to thoroughly evaluate your investment objectives, level of experience, and risk tolerance. Never allocate funds that you cannot afford to lose.
Off-exchange foreign exchange transactions carry significant risks, encompassing leverage, credit risk, limited regulatory protections, and market volatility. These factors can significantly influence currency prices and liquidity.
Furthermore, the leverage inherent in forex trading means that market fluctuations can result in substantial gains or losses relative to your initial investment. If market conditions go against you, you may risk losing your entire initial margin and be required to inject additional funds to maintain your position. Failure to meet margin requirements may lead to position liquidation and subsequent losses for which you bear responsibility
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