CAMTRADE

General Information & Regulation

CamTrade presents itself as a leading provider of online trading services, offering trading in forex pairs and various CFDs. They also claim to be operated by CamTrade PTY LTD which is licensed in Australia, however, the company information provided on the website is quite messy, and this broker has been verified to be a clone one.

Market Instruments

Tradable financial instruments available on the CamTrade platform include forex currency pairs, commodities, indices and stocks.

Minimum Deposit

The minimum deposit with Camtrade is $250, which is in line with the offshore brokers, but higher than the regulated industry standards- $100 on average.

Inactivity Fees

After 6 months of inactivity, an account becomes dormant and will be subject to a deduction of 10% per month, which is a typical scam clause that can be found in many proven scam brokers.

Leverage

The maximum leverage offered by CAMTRADE is up to 1:200, which is a ratio that‘s too risky for traders, and it’s available to adjust only upon subscription. Such a level may become the cause of lightning-quick losses, so make sure to handle it properly if deployed.

Spreads & Commissions

The EUR/USD spread is 2.3 pips, which isnt the best Bid/Ask difference you can find. It forms part of the trading costs, so lower rates are beneficial and largely determine whether the broker is good or not. Most legit brokers offers the spread on the EUR/USD pair is below 1.5 pips.

Trading Platform Available

Camtrade offers web-based trading software only. In fact, they pretend to provide a Desktop distribution, too, but its available for download exclusively upon a deposit.

Deposit & Withdrawal

Camtrade advertises using bank cards, wires, Skrill, Neteller, and Bitcoin. The withdrawal provisions are thoroughly unfair- a minimum of $100 for Credit/Debit and $250 for Wire Transfers. The charges are monstrous- $25 per bank card transfer plus a $10 processing fee and $50 for wires. There are also trading volume requirements applicable- clients need to trade at least 200 in turnover (whatever this should mean) to avoid paying 10% additionally. Thats definitely a scam!