Lotus International-Overview of Minimum Deposit, Spreads & Leverage

General Information

Lotus International is a Belize –registered forex and CFD broker and says to be owned and operated by a company called Lotus International LLC. Lotus International offers a range of trading instruments, including major and minor currency pairs, commodities, indices, stocks. Lotus International offers access to MetaTrader 4 (MT4), known for their industry-standard features and compatibility with expert advisors. Additionally, this broker also provides a webtrader. A minimum deposit of $100 is necessary to open a live account and demo account is not available.

Pro and Cons

Lotus International offers both MT4 and Webtrader access with an acceptable minimum deposit. However, there are significant drawbacks to consider. It's an unregulated broker, their website is not easily accessible, they have a limited range of trading instruments, and crucial details like leverage, spreads, payment methods, and customer support are missing. Traders won't find the MT5 platform here, and unfortunately, there are no demo accounts for those who want to practice before diving into real trading.

Regulation

When it comes to regulations, Lotus International's claims are quite concerning. They state that they are registered with the National Futures Association (NFA) and provide a license number (0541105) to back this up. However, upon closer inspection, it becomes clear that these claims are not accurate. In reality, Lotus International operates without any oversight from a regulatory authority.

Market Instruments

Tradable financial instruments available on the Lotus International platform include forex currency pairs, indices, share CFDs, as well as some commodities. However, other popular instruments like stocks and cryptocurrency are not available.

Minimum Deposit

The minimum deposit requirement at Lotus International is said to be just 100 USD, notably accessible for most traders. The $100 minimum deposit requirement at Lotus International is a friendly option for traders who want an affordable way to join the financial markets.

Here's a comparison table of the minimum deposit requirements for Lotus International, FP Markets, IC Markets, and Exness:

Leverage

Lotus International claims to provide its clients with what they consider to be exceptional leverage, which they present as a benefit. However, it's essential to note that they haven't clearly disclosed the exact leverage ratio they offer.

Spreads & Commissions

Lotus International highlights its offering of low spreads, suggesting it could be cost-effective for traders. They don't, however, provide detailed spread information for specific instruments. This lack of specific data might make it a bit unclear for traders when it comes to understanding the costs associated with their trades. So, if you're considering this broker, clarifying the spread details with them could be a good idea.

Trading Platform Available

Lotus International says to be offering MetaTradre4 and a web trader, however, we cannot get access to this platform. The MT4 trading platform is a highly versatile and widely-used tool in the world of forex trading, renowned for its extensive charting capabilities, technical indicators, and support for automated trading through Expert Advisors (EAs). It provides traders with a user-friendly interface and the flexibility to customize their trading experience, making it suitable for traders of all levels of experience.

Deposit & Withdrawal

In terms of payment methods, this is yet another missing piece of information. Popular payment methods with brokers in Europe and the UK also include PayPal, Neteller, Skrill and SOFORT, while brokers in Australia prefer some local payment methods such as BPay and POLi.

Customer Service

Getting in touch with customer support at Lotus International can be a bit tricky since they don't readily share their contact information. This could make it inconvenient for traders who might need assistance with platform issues or account-related concerns.

FAQs

Q: Can I trade on mobile devices with Lotus International？

A: Yes, Lotus International offers mobile trading capabilities, allowing traders to trade on iOS and Android devices.

Q: Is Lotus International known for competitive spreads？

A: Lotus International advertises competitive low spreads, but specific details on spreads for individual instruments may not be readily available.

Q: How can I contact customer support at Lotus International？

A: Lotus International does not readily provide contact information, making it less convenient to reach their customer support.

Q: Is Lotus International suitable for beginners in forex trading？A: While Lotus International offers a user-friendly interface, traders should be aware of the lack of regulatory oversight and limited customer support when considering its suitability, particularly for beginners.