Torrent- Spreads and Leverage Details about This Broker

General Information & Regulation

Founded in 2015, Torrent is an online broker owned and operated by Torrent Trading Technology Ltd. The Retail Forex License it holds from the Vanuatu has been revoked. Torrent is not subject to any regulation, please be aware of the risk.

Market Instruments

Torrent offers trading in more than 50 currency pairs, as well as some CFDs on the popular MT4 platform.

Minimum Deposit

Clients of Torrent FX have four account option: Cent, Mini, Pro and VIP accounts. The minimum initial deposit required by the cent account is $1, quite reasonable for most regular traders if it is a regulated broker. Besides, swap-free (Islamic) services are available with TorrentFX on Cent accounts.

Leverage

Trading leverage differs depending on particular trading accounts. The maximum trading leverage offered by Torrent is super high, reaching up to 1:1000. Leverage magnifies the returns from favorable movements in a currency's exchange rate.It's important that forex traders learn how to manage leverage and employ risk management strategies to mitigate forex losses.

Spreads & Commissions

The variable spreads offered by this broker are slightly above average, the typical ones amounting to 1.7 pips on EUR/USD.

Trading Platform Available

TorrentFX offers its clients the most popular front-end application in the forex industry – MetaTrader 4 (MT4), desktop and mobile versions available.

Deposit & Withdrawal

TorrentFX supports only China UnionPay as a payment method and accepts only Chinese Yuan Renminbi. Keep in mind that 1.5% is charged for deposits and 3% for withdrawal.

Customer Service

The Torrent customer support services can be reached through telephone, email. However, live chat is not available.