70Trades-Overview of Minimum Deposit, Leverage, Spreads

General Information & Regulation

70Trades, a trading name of Wanakena Ltd, is allegedly a broker registered in 73 Arch. Makarios III Avenue, Office 301, 1070 Nicosia, Cyprus with registration number 379327, claiming to provide its clients with the web-based and mobile trading platforms, leverage up to 1:200, a wide range of tradable assets, as well as a choice of three different trading plans and 24/7 customer support service.

Market Instruments

70Trades advertises that it offers a wide variety of trading instruments in financial markets, including commodities, forex, futures, stocks, indices and Bitcoin.

Trading Plans

There are three trading plans offered by 70Trades, namely Entry Level, Advanced and Pro. Starting an Entry Level plan. However, there is no information about the minimum initial deposit requirement specified.

Leverage

The maximum leverage ratio provided by 70Trades is much higher than most brokers, up to 1:200. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Trading Platform Available

When it comes to trading platforms available, 70Trades gives traders two choices: the Web profit app and the mobile profit app (suitable for Apple and Android). Anyway, we suggest you use MT4 or MT5 as the trading platform. MetaTrader is the most popular forex trading platform, which the traders praise for its stability and trustworthiness. It features sophisticated trading tools such as Expert Advisors, Algo trading, Complex indicators and Strategy tester. Metatrader created a marketplace with currently 10,000+ trading apps the traders can utilize to achieve better results. Both the MT4 and MT5 have mobile APPs, trading can be done from anywhere and at any time through the right mobile terminals including iOS and Android devices.

Tools

Also, 70Trades provides its clients with some trading tools consisting of Portfolio Builder, Live Data Center, Economic Calendar and RSS News, whose interfaces seem to be quite simple and easy to use, just as the following screenshots show.

Deposit & Withdrawal

From the logos shown at the foot of the home page on 70Trades official website, we found that this broker seems to accept numerous means of deposit and withdrawal choices, which include but are not limited to Visa, MasterCard, Maestro, Bank Transfer, Skrill, Neteller, ecoPayz, Paysafecard, Fast Bank Transfer, etc., yet we cannot be sure if these payment options are all available.

Customer Support

70Trades customer support can be reached by telephone: +6531592317, WhatsApp: +2482577534, email: customer.service@70trades.com. Besides, you can also follow this broker on some social media platforms like Twitter, YouTube, LinkedIn and Facebook. Registered address: 73 Arch. Makarios III Avenue, Office 301, 1070 Nicosia, Cyprus.