SUMMITRADE Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-10-17 11:23

Abstract：Registered in 2019, SUMMITRADE is an unregulated financial trading platform based in Estonia. It offers Forex, Indices, Cryptocurrencies, Commodities, Stocks and ETFs via both web and mobile platforms.

SUMMITRADE Review Summary
Founded	2019
Registered Country/Region	Estonia
Regulation	No Regulation
Market Instruments	Forex, Indices, Cryptocurrencies, Commodities, Stocks and ETFs
Demo Account	✅
Leverage	Up to 1:100
Spread	/
Trading Platforms	Web-based Platform, mobile App
Minimum Deposit	€250
Customer Support	Contact form
	Phone: +41 225000892
	Email: support@summitrade.co
	Address: OÜ, Tallinn, Kesklinna linnaosa, Roosikrantsi tn 2, 10119 , Estonia

　　Registered in 2019, SUMMITRADE is an unregulated financial trading platform based in Estonia. It offers Forex, Indices, Cryptocurrencies, Commodities, Stocks and ETFs via both web and mobile platforms.

Pros and Cons

Pros	Cons
Demo accounts available	No regulation
Multiple account types	Limited info on trading fees
Flexible leverage ratios
Comprehensive customer support channels
Diverse payment methods

Is SUMMITRADE Legit?

　　At present, SUMMITRADE lacks valid regulation. Its domain was registered on Nov 1, 2019, and the current status is “clientDeleteProhibited, clientRenewProhibited, clientUpdateProhibited, clientTransferProhibited”. Please pay high attention to the safety of your funds if you choose this broker.

What Can I Trade on SUMMITRADE?

　　On SUMMITRADE, you can trade with Forex, Indices, Cryptocurrencies, Commodities, Stocks and ETFs.

Tradable Instruments	Supported
Forex	✔
CFDs	❌
Commodities	✔
Indices	✔
Cryptocurrencies	✔
Stocks	✔
ETFs	✔
Bonds	❌
Mutual Funds	❌

Account Type/Leverage

　　SUMMITRADE offers Basic, Sliver, Gold, and Vip accounts, with flexible leverage ranges from 1:10 to 1:10. Note that high-leverage can amplify both profits and losses.