Baazex Some Important Details about This Broker

General Information

Registered in Seychelles, Baazex, the trading name of Baazex International Limited, is an offshore forex broker providing easy access to a massive financial market. Traders can trade forex, Metals, Energies, Indices, Futures, Shares, Commodities and more through this brokerage platform.

With the Baazex platform, three trading accounts are available, with the minimum deposit to start trading with this broker starting at $100, and the maximum trading leverage can be used is up to 1:500.

Regulation

Baazex currently is regulated by the The Seychelles Financial Services Authority (FSA) under license no. SD134.

Market Instruments

With the Baazex platform, traders can get access to diversified range of trading products, such as Forex, Metals, Indices, Futures, Shares, Energies, Commodities and Cryptocurrencies.

In this way, investors can have the great flexibility to diversify their investment portfolios based on their trading strategy and trading styles.

Account Types

Baazex provides a total of five trading accounts to suit both retail and professional traderstrading needs: Classic, VIP, ECN, Social Trading, Islamic accounts. in terms of the minimum initial deposit for each account, the Classic and Social Trading account both require a minimum deposit of $100, which is acceptable. While for the VIP and Islamic account, the requirement becomes much higher, reaching up to $5,000. Lastly, the most expensive account, the ECN account ask for an initial deposit of $10,000.

How to open an account with Baazex？

Opening an account with Baazex is an easy and simple process:

1. Click the “Open Live Account” link, and fill up some required details on the popping-up page.

2. Upload your personal data for this company to verify your details.

3. Choose the preferable payment methods, fund your account and start to trade with this forex broker.

Leverage

When it comes to leverage, Baazex allows its clients to use leverage of up to 1:500, higher than the levels regarded appropriate by many regulators, with the maximum leverage for major forex up to 1:30 in Europe and Australia, and 1:50 in Canada and U.S.

Since leverage can magnify gains as well as losses, it can also cause serious fund losses, especially to inexperienced traders. Therefore, it is wise for beginners to choose the smaller size no more than 1:10 until they gain more trading experience.

Spreads & Commissions

Spreads and commissions are tightly associated with account types. Basically, Baazex offers a commission-free trading environment except for the ECN account. The Classic is for all types of traders, with the minimum spread starting at 1.4 pips, same as the Social Trading account. The VIP account charges no commissions, either, with the spread starting at 0.9 pips. The ECN account offers competitive spreads from 0.1 pips, with a certain amount of commission charged.

Trading Platform

Baazex provides access to the industry-leading MT5 trading platform, which can be accessed on any device, Windows, Apple, and Android. The MT5 trading platform allows one-click operations for opening and closing trades, setting stops and entry limits, placing direct orders, setting and editing limit and stop loss, as well as charting.

Aside from the MT5 trading platform, a Webtrader and Mobile trading are also available.

Payment Methods

The minimum deposit to invest with Baazex is $100. Baazex allows its clients to make a deposit and withdrawal through multiple payment methods, including Bank Transfer, Neteller, Skrill, VISA, MasterCard, Perfect Money.

Although this broker promises that deposit and withdrawal processing time is up to 24 working hours. Given the fact that this broker is not regulated, investors are not advised to deposit here.

Swap Rates

Traders who hold positions should always consider swap rates as an additional trading cost. Swap rates offered by Baazex are list below:

Customer Support

Clients have any inquiries or trading-related issues can also get in touch with Baazex through the following channels:

Email: info@baazex.com

Online Communication

Or you can follow this broker through Facebook, Twitter, and Linkedin.

Risk Warning

Trading leveraged products such as forex, cryptocurrencies and derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that your fully understand the risks involved, taking into account your investments objectives and level of experience.

The information presented in this article is intended solely for reference purposes.