Score

1.42 /10
Danger

EuroTrade

United Kingdom

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

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Score

Regulatory Index0.00

Business Index6.30

Risk Management Index0.00

Software Index4.00

License Index0.00

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Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

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Broker Information

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Company Name

EuroTrade

Company Abbreviation

EuroTrade

Platform registered country and region

United Kingdom

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2024-12-26
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

EuroTrade · Company summary

Note: EuroTrade is to operate via the website - https://eurotrade.co/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information & Regulation

Feature Detail
Regulation No Regulation
Market Instrument stocks, cryptocurrencies, indices, currencies and commodities
Account Type Basic, Silver, Gold, Platinum and Diamond
Demo Account N/A
Maximum Leverage 1:1000
Spread (EUR/USD) 0.3-0.4 pips
Commission N/A
Trading Platform web
Minimum Deposit $250
Deposit & Withdrawal Method NeoBanQ, GateWay and Oobit

EuroTrade is allegedly a forex broker registered in the United Kingdom that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:1000 and spreads floating around 0.3-0.4 pips on the web-based trading platform via 5 different live account types, as well as 24/7 customer support service.

As for regulation, it has been verified that EuroTrade currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.22/10. Please be aware of the risk.

General Information & Regulation

Market Instruments

EuroTrade advertises that it offers access to a wide range of trading instruments in financial markets, including stocks, cryptocurrencies, indices, currencies and commodities.

Account Types

EuroTrade claims to offer 5 types of trading accounts - Basic, Silver, Gold, Platinum and Diamond, with minimum initial deposit requirements of $5,000, $10,000, $25,000, $100,000 and $1,000,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.

Account Types

Leverage

The leverage for different account types ranges from 1:50 to 1:1000 at EuroTrade. Specifically, 1:50 for the Basic, 1:100 for the Silver, 1:200 for the Gold, 1:400 for the Platinum and 1:1000 for the Diamond. However, according to the regulations, British and Australian brokers have to limit their clients to 1:30, while US brokers cant provide more than 1:50. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads

No spread level is specified in the account description. In EuroTrades web trading platform, levels of 0.3-0.4 pips on the EUR/USD pair are visible.

Trading Platform Available

Instead of the world's most advanced and popularly-used MT4 and MT5 platforms, EuroTrade gives traders a web trading platform, just as the below screenshot shows. Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.

Trading Platform Available

Deposit & Withdrawal

EuroTrade only supports three unknown payment methods - NeoBanQ, GateWay and Oobit. The minimum amount the deposit menu accepts is said to be $250 while opening an account requires the minimum deposit is extremely high - up to $5,000.

Deposit & Withdrawal

Also, different account types are equipped with different withdrawal processing speeds. For example, 4 business days for the Basic account, 3 business days for the Silver account, 2 business days for the Gold account and 1 business day for the Platinum account.

Bonuses

EuroTrade claims to offer some bonuses. However, if the client has received a bonus, the withdrawal of any funds from his account becomes conditional upon the fulfilment of a high minimum trading volume requirement of at least 30 times the amount of the bonus plus the deposit amount.

In any case, you should be very cautious if you receive a bonus. Bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Note that brokers are prohibited from using bonuses and promotions by all leading regulators.

Customer Support

EuroTrade‘s customer support can be reached by telephone: +44 2080971875, email: support@eurotrade.co. However, this broker doesn’t disclose other more direct contact information like the company address that most transparent brokers offer.

Pros & Cons

Pros Cons
• Multiple assets and account types offered • No regulation
Website inaccessible
• Competitive EUR/USD spreads (0.3-0.4 pips) • High minimum deposit requirement ($250)
• No popular funding methods supported

Frequently Asked Questions (FAQs)

Q 1: Is EuroTrade regulated?
A 1: No. It has been verified that EuroTrade currently has no valid regulation.
Q 2: Does EuroTrade offer the industry-standard MT4 & MT5?
A 2: No. Instead, EuroTrade offers a web trading platform.
Q 3: What is the minimum deposit for EuroTrade
A 3: The minimum initial deposit with EuroTrade is $250.
Q 4: Does EuroTrade charge a fee?
A 4: Like every forex broker, EuroTrade charges a spread fee. While the information on other fees such as the commission fee and deposit & withdrawal fees are missing.
Q 5: Is EuroTrade a good broker for beginners?
A 5: No. EuroTrade is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website and high initial deposit requirement.

News

NewsAlert: FCA, CNMV and FSMA Added EuroTrade into Warnings

EuroTrade has got many negative reviews and investors who traded with this broker have raised many complaints against it.

WikiFX
2023-01-23 17:34
Alert: FCA, CNMV and FSMA Added EuroTrade into Warnings

NewsThe FCA, CNMV, and FSMA have included EuroTrade in their warnings

EuroTrade has received several poor evaluations, and investors who have traded with this broker have filed numerous complaints against it. WikiFX has consequently conducted extensive research on the firm and has classified it as a fraud based on bad reviews, complaints, and other scam characteristics.

WikiFX
2022-08-11 16:23
The FCA, CNMV, and FSMA have included EuroTrade in their warnings

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暗里着迷98558
more than one year
Unable to access EuroTrade's website. Also, as an unregulated broker, EuroTrade may present some risks and issues. This made me question a bit about their services and trading conditions. For those investors who are considering using EuroTrade, I advise them to think twice. It is very important to choose a reputable broker that is regulated, which can keep your trading funds safe and have a quality trading experience.
Unable to access EuroTrade's website. Also, as an unregulated broker, EuroTrade may present some risks and issues. This made me question a bit about their services and trading conditions. For those investors who are considering using EuroTrade, I advise them to think twice. It is very important to choose a reputable broker that is regulated, which can keep your trading funds safe and have a quality trading experience.
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2023-03-28 16:45
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