Netotrade Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-10-22 17:10

Abstract：NetoTrade is an offshore forex broker registered in Saint Vincent and the Grenadines (SVG). It is important to note that the broker does not currently hold any authorized licenses. In addition, NetoTrade had been warned by the Financial Conduct Authority (FCA) back in 2013.

　　Note: Netotrade's official website: https://www.netotrade.ae/ is currently inaccessible normally.

Netotrade
Founded	2010
Registered Country/Region	Cyprus
Regulation	No regulation
Market Instruments	Forex, Cryptocurrencies, Stocks, Commodities, Indices
Account Type	Mini, Golden, Platinum, and ECN
Demo Account	✔
Leverage	1:30
Spread	0.3-3.3pips
Deposit & Withdrawal	Bank Transfer, Credit/Debit Cards, Skrill, Neteller
Trading Platform	MetaTrader 4, MetaTrader 5, NetoTrade WebTrader
Minimum Deposit	$500
Customer support	24/5 Live Chat, Email, Phone
Educational Resource	Trading Academy, Ebooks, Webinars, Expert Analysis

Netotrade Information

　　Netotrade, founded in 2010, is a brokerage registered in Cyprus. The trading instruments it provides cover Forex, Cryptocurrencies, Stocks, Commodities, Indices. It provides 4 accounts and 3 trading platforms. But it is currently unregulated and lacks security.

Pros and Cons

Pros	Cons
Diverse trading platforms	No regulation
Lots of tradable assets	High withdrawal fees and slow processing times
Multiple account types offered
Competitive spreads from 0.3 pips
Demo Account Available

Is Netotrade Legit?

　　It is clear that Netotrade, which was registered in 2010 and is currently unregulated, is insecure.

What Can I Trade on Netotrade?

　　Netotrade offers traders the opportunity to trade Forex, Cryptocurrencies, Stocks, Commodities and Indices. But it can't offer products such as CFDs and ETFs.

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

Account Types

　　Netotrade offers a total of 4 different types of accounts to traders -MiniAccount, Golden Account, Platinum Account, ECN Account. It also provides demo account.

Account Types	Minimum Deposit	Leverage	Spread	Commission	Additional Features
Mini	$500	1:400	From 3.3 pips	$0	25% education bonus
Golden	$5000	1:400	From 2.2 pips	$0	20% welcome bonus, personal account manager
Platinum	＄5000	1:400	From 1.8 pips	$0	Personal account manager
ECN	$5000	1:400	From 0.3 pips	0.3 points	Personal account manager

Netotrade Fees

　　4 accounts are different in spread and commission. ECN account's spread is the lowest, starting with 0.3pips, but it charges from 0.3 points for every transaction. The other 3 accounts all charge no commission. Mini account's spread is the highest, starting with 3.3pips.

Account Types	Spread	Commission
Mini	3.3pips	$0
Golden	2.2pips	$0
Platinum	1.8pips	$0
ECN	0.3pips	From 0.3 points

Netotrade Platform

　　Netotrade provides 3 trading platform-MetaTrader 4, MetaTrader 5, and NetoTrade WebTrader, which supports traders on PC, Mac, iPhone and Android.

Trading Platform	Supported	Available Devices	Suitable for
MT5 Margin WebTrader	✔	Web, Mobile	Proficient
MT4	✔	Desktop, web, and mobile	Beginner
NetoTrade WebTrader	✔	Web	Beginner

Deposit and Withdrawal

　　The broker supports three payment methods: Bank wire transfer, Debit/credit cards, E-wallets. In addition, its withdrawals fees are high and processing times are slow.

	Deposits	Withdrawals
Method	Bank wire transfer, Debit/credit cards, E-wallets	Bank wire transfer, Debit/credit cards, E-wallets
Fees	No fees	$25 wire transfer fee, 3% card fee, 3% e-wallet fee
Processing Time	Instant with cards, up to 1 business day for wire transfers	Up to 5 business days for wire transfers, up to 3 days for cards/e-wallets