Stock 247 Traders-Overview of Minimum Deposit, Leverage, Spreads

General Information

Founded in 2009, Stock 247 Traders is allegedly a broker based in the USA, authorized and regulated by the Cayman Islands Monetary Authority, claiming to provide its clients with the worlds most popular MetaTrader4 and MetaTrader5 trading platforms, leverage up to 500:1, variable spreads on over 300 tradable products, as well as a choice of three different account types and 24×5 customer support services.

Market Instruments

Stock 247 Traders advertises that it offers access to more than 300 trading instruments across all asset classes in financial markets, including forex, commodities, indices, share CFDs. Some other trading assets like energy and precious metals are also available.

Account Types

There are three trading accounts offered by Stock 247 Traders, namely RAW ECN Account, Standard STP Account and PRO ECN Account. Opening any type of account requires the minimum initial deposit amount of $500.

Leverage

The maximum leverage ratio provided by Stock 247 Traders is much higher than most brokers, up to 500:1. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads & Commissions

Spreads and commissions are influenced by what type of accounts traders are holding. Stock 247 Traders reveals that the spreads for EUR/USD pair in the Standard STP account start from 1.4 pips with no commissions, the clients on the RAW ECN account can enjoy raw spreads from 0.0 pips with a commission of A$3, while the PRO ECN account with raw spreads from 0.0 pips and a commission of A$2.

Trading Platform Available

When it comes to trading platforms available,Stock 247 Traders gives traders the worlds most widely-used MetaTrader4 and MetaTrader5 platforms, available for Windows, iOS and Android. MT4 and MT5 are both known as the most successful, efficient, and competent forex trading software, perfect for both new and experienced traders, offering one-touch trading, multiple order types and more. While with MT4 and MT5 Mobile apps, trading can be done from anywhere and at any time through the right mobile terminals.

Deposit & Withdrawal

Stock 247 Traders accepts deposits and withdrawals via a wide selection of methods, containing Bitcoin, Domestic Fast Transfer (Australia Only), International EFT, BPAY(Australia Only), POLi Payments (Australia Only), Credit/Debit Cards (Visa and MasterCard), JCB, China Union Pay, Neteller, Skrill, Broker-to-Broker Transfer, FasaPay and Thailand Instant Bank Wire Transfer. The minimum deposit amount is $500. Different payment methods may charge different fees. For instance, deposit or withdrawal via China Union Pay may charge a fee of 1.30% - 2.50%, Neteller, Skrill and Broker-to-Broker Transfer will be subject to Neteller‘s fees, Skrill’s fees and bank transfer fees respectively, while the other methods with no fees. As for the processing time of deposit requests, International EFT and Broker-to-Broker Transfer require 2-5 business days, while BPAY with 1-2 business days, POLi Payments and Skrill will process within 24 business hours, Domestic Fast Transfer with a few hours, Bitcoin with 1-30 minutes and other methods can process deposit requests instantly. By contrast, all withdrawal requests will be processed between Monday to Friday 9 am-7 pm (AEST), but requests received after 7 pm will be processed on the following working day.

Customer Support

Stock 247 Traders customer support can be reached through phone (international): +15189940226, email: info@stock247traders.com or live chat. Besides, you can also follow this broker on some social media platforms like Facebook and Twitter. Company address: FL 33076, Parkland, United States.