ArgoTrade-Some Important Details about This Broker

Risking Warning: This ArgoTrade is a clone online broker, and it confuses people by using a similar company name (Leadcapital Corp Ltd) as another FSA-regulated Lead Capital Corp Ltd. please note these two names are really same, and this is the typically tactic used by many scammers or clone brokers trying to defraud investors.

General Information

Registered in Seychelles, ArgoTrade is a forex broker providing easy access to a massive financial market, Forex, Stocks, Indices, Bonds, Cryptocurrencies, Commodities, ETFs

ArgoTrade is just a clone forex broker posing as a legit one to defraud investors. Please be aware of the risk.

Market Instruments

ArgoTrade says it provides access to a large financial market. Different types of trading instruments, such as Forex, Indices, Commodities, Bonds, ETFs, Stocks, Indices, are all available through this brokerage platform.

Account Types

ArgoTrade provides five types of trading accounts for both retail and professional traders, namely Micro, Silver, Gold, Platinum and Exclusive. The Micro account is designed for beginners or traders who are just starting out in forex trading, asking for an initial deposit of $100, which is higher than most legit forex brokers requirements for this types of accounts.

Other four trading accounts even ask for more absurdly high deposits, with the Silver account from $2,000, the Gold from $10,000, the Platinum from $50,000, and the Exclusive account from $100,000.

How to open an account with ArgoTrade？

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

1. Click the “Open An 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, Argo Trade allows its clients to use leverage of up to 1:300, 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. With the Micro account, the spread on the EUR/USD pair start at 3 pips, quite wide compared to the industry standard. Detailed spreads are listed below:

Basically, the more account balance you hold, the tighter spreads you can enjoy.

Trading Platform

ArgoTrade provides access to the MT5 trading platform, as well as WebTrader. 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.

Payment Methods

The minimum deposit to invest with ArgoTrade is $100, and this broker says it allows its clients to make a deposit and withdrawal through multiple payment methods, which include VISA, MasterCard, Skrill, Neteller, DISCOVER, Maestro, etc.

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.