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AFFX-Overview of Minimum Deposit, Spreads & Leverage

GARNET TRADE Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-12-25 12:14

Abstract：Garnet Trade was founded by a group of asset managers who have been in the business for 12 years based in Switzerland to share trading experiences in the interbank forex liquidity market. In 2010, Garnet Limited has grown internally to become one of the premier forex brokerage firms with over $30 million in equity capital. Garnet Limited conducts its broker business on over 50 market destinations worldwide. In its broker dealer agency business, Garnet Limited provides direct access ("on the line") trade execution and clearing services to institutional and professional customers for a wide variety of electronically traded products including stocks, CFDs, energies, metals, and Forex worldwide. Garnet Limited and its affiliates execute over 1,454,000 trades per day.

GARNET TRADE Review Summary
Founded	2010
Registered Country/Region	Australia
Regulation	MISA & ASIC
Market Instruments	ForexCommoditiesIndicesStocks
Demo Account	✅
Leverage	Up to 1:500
Spread	From 0.1 pips
Trading Platform	MT5
Min Deposit	$100
	24/7 service
	Physical Address: Bulevar 8-MI Septemvri Skopje North Macedonia
	Email: info@garnet-trade.com
	Social Media: YouTube, Twitter, Facebook, Instagram.

GARNET TRADE Information

　　GARNET TRADE was established in 2010 and registered in Australia, GARNET TRADE is regulated by the Mwali International Services Authority (MISA) and the Australia Securities & Investment Commission(ASIC).

　　It offers a wide range of electronic trading products including forex, indices, stocks, and commodities. It also provides access to the MT5 trading platforms and supports demo accounts.

Pros and Cons

Pros	Cons
Available demo accounts	Not support MT4
24/7 service
Support MT5
Commission-free
Offers Islamic Forex accounts

Is GARNET TRADE Legit?

　　GARNET TRADE is under the offshore regulation of the Mwali International Services Authority (MISA), holding License number T2023429.

　　GARNET TRADE is under the regulation of the Australia Securities & Investment Commission(ASIC), holding License number 001305577.

Regulator	Regulatory Status	Licence Type	Licence Number
Mwali International Services Authority (MISA)	Offshore Regulated	Retail Forex License	T2023429
Australia Securities & Investment Commission(ASIC)	Regulated	Appointed Representative(AR)	1305577

What Can I Trade on GARNET TRADE?

　　GARNET TRADE provides trading products including forex, indices, stocks, and commodities.

　　Forex: Spread from 0.5 pips and leverage up to 1:500.

　　Stocks: More than 5000 instruments.

　　Indices: Tight spreads, high execution speed, and synthetic indices trading.

　　Commodities: Including forex, indices, energy, metals, shares, futures.

Tradable Instruments	Supported
Forex	✔
Indices	✔
Stocks	✔
Commodities	✔
ETF	❌

Account Types

　　GARNET TRADE offers five types of accounts: Beginner Account, Standart Account, Prime Account, ECN Account and Zero Account( Islamic Forex accounts). It also offers demo account for traders.

　　All five accounts are commission-free.

　　However, the Junior account requires a minimum deposit of $100 and has a spread of 0.9 pips, while the Standard account requires a minimum deposit of $1,500 and has a spread of 0.7 pips. Standard accounts require a minimum deposit of $1,500 with a spread of 0.7 pips, Prime accounts require a minimum deposit of $5,000 with a spread of 0.5 pips, and ECN and Zero accounts require a minimum deposit of $10,000 with a spread of 0.1 pips.

	Beginner Account	Standart Account	Prime Account	ECN Account	Zero Account
Minimum Deposit	100 USD	1.500 USD	5.000 USD	10.000 USD	10.000 USD
Available Base Currencies	USD, EUR, GBP, AUD	USD, EUR, GBP, AUD	USD, EUR, GBP, AUD	USD, EUR, GBP,AUD	USD,EUR,GBP,AUD
Spreads	0,9 pip	0,7 pip	0,5 pip	0,1 pip	0,1 pip
Maximum Leverage	1:100	1:300	1:300	1:500	1:500
Minimum Lot	0,01	0,01	0,01	0,01	0,01
Commission	No Commission	No Commission	No Commission	No Commission	No Commission
All Strategies Allowed	✔	✔	✔	✔	✔

　　To open an account, the user needs to fill in personal information on this page including name, birthday, country, address, gender, and password, email and phone number.

　　Then press the 'Continue 'button to complete the account creation process.

　　Then press the ‘REGISTER NOW’ button to complete the account creation process.

Leverage

　　The five account types offer different maximum leverage levels.

　　The Beginner Account provides a maximum leverage of 1:100, while the Standart and Prime Accounts offer a higher maximum leverage of 1:300.

　　The ECN Account and Zero Account, on the other hand, offer the highest maximum leverage among the five, which is 1:500.

	Beginner Account	Standart Account	Prime Account	ECN Account	Zero Account
Maximum Leverage	1:100	1:300	1:300	1:500	1:500

GARNET TRADE Fees

　　ZERO Account does not charge swap fees, the other four accounts do.

　　All five accounts are commission-free.

　　Beginner Account has the highest spread at 0.9 pip, Standart Account has a slightly lower spread at 0.7 pip, Prime Account's spread is further reduced to 0.5 pip, while ECN Account and Zero Account both have a spread of 0.1 pip.

Trading Platform

　　GARNET TRADE offers MetaTrader 5 platforms.

Trading Platform	Supported	Available Devices	Suitable for
MT5	✔	Smartphones, MacOS, Window	Professional traders andbeginners
MT4	❌		Professional traders andbeginners
Ctrader	❌

Deposit & Withdrawal

　　For deposits, the platform supports a variety of convenient methods, including bank transfers, electronic transfers, SWIFT, credit cards and cryptocurrency transfers. The minimum deposit amount is $100.

　　For withdrawals, the platform allows withdrawal transactions on weekdays (five days a week) and is limited to one per day. Withdrawal requests are usually processed within half an hour or at most one hour. It is worth noting that there is no minimum amount limit set for withdrawal transactions, but the minimum amount for cryptocurrency transfers to crypto wallets is $10.