Overview of Affluent Trade

Affluent Trade is an unregulated forex and cryptocurrency broker that offers a variety of trading accounts with varying degrees of leverage. The broker offers a wide range of trading instruments, including forex, stocks, and cryptocurrencies. Affluent Trade's trading platform is proprietary and offers a variety of trading tools and features. The broker also offers a demo account so that traders can practice trading without risking their own money.

Affluent Trade's minimum deposit is $250 for the Standard account and $10,000 for the Pro account. The broker's maximum leverage is up to 1:400 for the Pro account. Affluent Trade's spreads are variable. The broker offers deposits and withdrawals via credit/debit cards and bank transfers.

Pros and Cons

Pros of Affluent Trade:

• Wide range of trading instruments: Affluent Trade offers a wide range of trading instruments, including forex, stocks, and cryptocurrencies. This means that traders have a wide variety of assets to choose from when developing their trading strategies.

• Various account types with varying degrees of leverage: Affluent Trade offers a variety of account types to suit different traders' needs and risk tolerances. Traders can choose from Standard, Silver, Gold, VIP, and Pro accounts, each with its own minimum deposit and leverage requirements.

• Proprietary trading platform with a variety of trading tools and features: Affluent Trade's proprietary trading platform is user-friendly and offers a variety of trading tools and features, such as technical indicators, charting tools, and order types.

• Demo account available: Affluent Trade offers a demo account so that traders can practice trading without risking their own money. This is a valuable feature for new traders or those who are unfamiliar with the broker's platform.

Cons of Affluent Trade:

• Unregulated: Affluent Trade is not regulated by any financial authority. This means that the broker is not subject to any regulatory oversight or supervision. As a result, there is no guarantee that Affluent Trade is operating in a fair and transparent manner. Additionally, traders should be aware that their funds may not be protected in the event of a dispute with the broker.

• Variable spreads: Affluent Trade spreads are variable, which means that they can change depending on market conditions. This can make it difficult for traders to plan their trades and can result in unexpected losses.

• No educational resources: Affluent Trade does not provide any educational resources. This means that traders are responsible for learning about trading themselves or using third-party resources.

• Customer support is only available via email and phone: Affluent Trade's customer support is only available via email and phone. This can be inconvenient for traders who prefer to communicate with the broker via live chat or other methods.

Regulatory Status

Affluent Trade is not regulated by any financial authority. This means that the broker is not subject to any regulatory oversight or supervision. As a result, there is no guarantee that Affluent Trade is operating in a fair and transparent manner. Additionally, traders should be aware that their funds may not be protected in the event of a dispute with the broker.Trading with an unregulated broker can be risky. Traders should carefully consider the risks before trading with Affluent Trade

Market Instruments

Affluent Trade offers a variety of trading products, including forex, stocks, and cryptocurrencies. Here is a more detailed overview of each of these products:

1. Forex: Affluent Trade offers a wide range of forex pairs, including major, minor, and exotic pairs. Traders can use leverage of up to 1:400 to trade forex on Affluent Trade's platform.

2. Stocks: Affluent Trade offers CFDs (contracts for difference) on a variety of stocks from around the world. CFDs are a type of derivative that allows traders to speculate on the price of a stock without having to own the underlying asset. Traders can use leverage of up to 1:200 to trade CFDs on stocks on Affluent Trade's platform.

3. Cryptocurrencies: Affluent Trade offers a variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple. Traders can use leverage of up to 1:100 to trade cryptocurrencies on Affluent Trade's platform.

In addition to these traditional trading products, Affluent Trade also offers a number of other products, including indices, commodities, and options.

Account Types

Affluent Trade offers a variety of account types to suit different traders' needs and risk tolerances. Here is a detailed overview of each of these account types:

Standard Account:

The Standard Account is the most basic account type offered by Affluent Trade. It is a good choice for new traders or those who are not comfortable with high leverage. The Standard Account has a minimum deposit of $250 and a maximum leverage of 1:200.Silver Account:

The Silver Account is a good choice for traders who want a more feature-rich account than the Standard Account. The Silver Account has a minimum deposit of $5,000 and a maximum leverage of 1:300.

Gold Account:

The Gold Account is a good choice for experienced traders who want access to even more features and benefits. The Gold Account has a minimum deposit of $10,000 and a maximum leverage of 1:400.

VIP Account:

The VIP Account is the most premium account type offered by Affluent Trade. It is a good choice for high-volume traders who want the best possible trading conditions. The VIP Account has a minimum deposit of $25,000 and a maximum leverage of 1:500.

Pro Account:

The Pro Account is a special account type that is designed for professional traders. It is only available to traders who have a proven track record of success. The Pro Account has a minimum deposit of $100,000 and a maximum leverage of 1:1000.

How to Open an Account？

To open an account with Affluent Trade, follow these steps:

1. Visit the Affluent Trade website.

2. Click on the “Open Account” button.

3. Enter your personal information, such as your name, email address, and phone number.

4. Create a password for your account.

5. Choose an account type.

6. Read and agree to the Affluent Trade's Terms and Conditions.

7. Click on the “Open Account” button.

Once you have completed these steps, you will need to verify your identity by uploading a copy of your government-issued ID. You will also need to fund your account with a minimum of $250.

Spreads & Commissions

Spreads:

Affluent Trade offers variable spreads on all of its trading instruments. This means that the spread can change depending on market conditions. However, Affluent Trade's spreads are generally competitive. For example, the EUR/USD spread is typically around 1.5 pips.

Commissions:

Affluent Trade does not charge any commissions on forex trades. However, there are commissions on CFDs on stocks, cryptocurrencies, and other instruments. The commission for CFDs on stocks is 0.1%, the commission for CFDs on cryptocurrencies is 0.05%, and the commission for other CFDs is 0.2%.

Here is a table summarizing the spreads and commissions of Affluent Trade:

Please note that these are just examples, and the actual spreads and commissions may vary depending on market conditions.

Leverage

The maximum leverage offered by Affluent Trade is 1:1000. This means that traders can control up to $1000 worth of assets for every $1 of their own money. However, it is important to note that high leverage can also magnify losses, so it is important to use it carefully and to trade with a risk management strategy in place.

Here is a table showing the maximum leverage for each account type:

Trading Platform

Affluent Trade's proprietary trading platform offers a user-friendly interface and a variety of trading tools and features to suit the needs of both novice and experienced traders. The platform is accessible via web browsers and mobile devices, providing flexibility in accessing the platform from anywhere with an internet connection.

Key Features of Affluent Trade's Trading Platform:

1. User-Friendly Interface: The platform's intuitive design and straightforward navigation make it easy for traders of all levels to quickly grasp its functionalities.

2. Charting Tools: Affluent Trade provides a comprehensive suite of charting tools, including various chart types, technical indicators, and drawing tools, allowing traders to conduct in-depth technical analysis and visualize market trends effectively.

3. Order Types: The platform offers a variety of order types, including market orders, limit orders, stop-loss orders, and take-profit orders, enabling traders to execute their trading strategies with precision.

4. Risk Management Tools: Affluent Trade provides risk management tools such as margin calculators and trailing stops to help traders manage their risk exposure and protect their capital.

5. Real-Time Market Data: The platform provides real-time market data, including live quotes, charts, and news feeds, keeping traders informed of the latest market developments.

6. Account Management: Traders can easily manage their accounts, view their trading history, and deposit or withdraw funds directly from the platform.

Overall, Affluent Trade's trading platform offers a comprehensive set of features and tools that cater to the needs of a wide range of traders, from beginners to experienced professionals. The platform's user-friendly interface, advanced charting tools, and risk management features make it a suitable choice for traders seeking a versatile and reliable trading environment.

Deposit & Withdrawal

Payment Methods:

Affluent Trade offers a variety of payment methods for both deposits and withdrawals. These methods include:

• Credit/debit cards: Affluent Trade accepts major credit and debit cards, including Visa, Mastercard, and Maestro.

• Bank transfers: Traders can make bank transfers directly from their bank accounts to their Affluent Trade accounts.

• E-wallets: Affluent Trade supports a variety of e-wallets, including Skrill and Neteller.

Please note that the available payment methods may vary depending on your region.

Fees:

Affluent Trade does not charge any commissions on forex trades. However, there are commissions on CFDs on stocks, cryptocurrencies, and other instruments. The commission for CFDs on stocks is 0.1%, the commission for CFDs on cryptocurrencies is 0.05%, and the commission for other CFDs is 0.2%.

Affluent Trade does not charge any fees for deposits. However, there may be fees associated with withdrawals, depending on the method used. For example, there is a $30 fee for bank transfers.

Here is a table summarizing the payment methods and fees of Affluent Trade:

Customer Support

Affluent Trade has a customer-centric approach to optimize customer satisfaction. They provide robust customer support through both phone and email. The customer support staff can be reached by phone at +44 1519470788, and they are skilled in resolving queries over the phone to provide a resolution in a quick and efficient manner. For non-urgent or detailed queries, customers can also engage via email at support@affluenttrade.com. The customer support team responds timely and professionally to ensure that the customers concerns are adequately addressed. They are proficient in English, making it accessible and understandable for a wide range of customers globally. They are committed to offering superior service to ensure their customers have a pleasant experience.

Educational Resources

Affluent Trade does not currently provide any educational resources on their website. As a result, traders are responsible for learning about trading themselves or using third-party resources. This can be difficult for traders who are new to the market or who are not comfortable with self-directed learning.

Here are some educational resources that traders may find useful:

• The DailyFX Trading Education Center: This website offers a variety of articles, videos, and webinars on a variety of trading topics.

• Investopedia: This website is a great resource for learning about basic financial concepts and terms.

• Babypips Trading School: This website offers a free and comprehensive trading course that covers everything from the basics of trading to more advanced strategies.

Traders should also consider enrolling in a trading course or attending a trading seminar. These can be a great way to learn from experienced traders and to get your feet wet in the market.

Conclusion

Affluent Trade is an unregulated forex and cryptocurrency broker that offers a wide range of trading instruments, various account types, and a user-friendly proprietary trading platform with a variety of trading tools and features. However, Affluent Trade does not provide any educational resources and only offers customer support via email and phone. Traders should carefully consider the risks involved before trading with Affluent Trade due to its unregulated status and lack of educational resources.

FAQs

Q1: What trading instruments does Affluent Trade offer？

A1: Affluent Trade offers a wide range of trading instruments, including forex, stocks, cryptocurrencies, indices, commodities, and options.

Q2: What account types does Affluent Trade offer？

A2: Affluent Trade offers five account types: Standard, Silver, Gold, VIP, and Pro. Each account type has its own minimum deposit and maximum leverage requirements.

Q3: What is the maximum leverage offered by Affluent Trade？

A3: The maximum leverage offered by Affluent Trade is 1:1000.

Q4: What are the spreads and commissions of Affluent Trade？

A4: Affluent Trade offers variable spreads on all of its trading instruments. There are no commissions on forex trades, but there are commissions on CFDs on stocks, cryptocurrencies, and other instruments.

Q5: What is the trading platform of Affluent Trade？

A5: Affluent Trade offers a proprietary trading platform that is accessible via web browsers and mobile devices. The platform offers a user-friendly interface, a variety of charting tools, and a variety of order types.

Q6: What payment methods does Affluent Trade offer？

A6: Affluent Trade offers a variety of payment methods for depositing and withdrawing funds, including credit/debit cards, bank transfers, and eWallets.