Forex Brokers

Brokereo Review 2020

brokereo review

1) Introduction: A financial market is a place of uncertainty where there is an equal chance of failure and success. It contains lots of variable and intricate details which one should understand and consider before actually jumping into a new trade. You can transform this possibility of failure into achievement by building a strong financial foundation and making smart choices. One of the smart steps lies in the selection of a suitable broker (like brokereo) for trading. 

Brokereo, the well-known brokerage firm established in the county Cyprus stands rigid in the list of legit and trustworthy brokers. It is a well-regulated firm working under and registered with the central financial authority the Cyprus Securities and Exchange Commission (CySEC). 

2) Summary 

Trading features, charges and basic details of Brokereo in brief: 

Basic details of Brokereo:

  • Headquarters: Pavlou Nirvana No 4, ALPHA TOWER, Office N 13, 3021 Limassol, Cyprus.
  • Regulated by a trusted authority, the Cyprus Securities and Exchange Commission (CySEC). 
  • Working under the licence number: 189/13

Trading features of Brokereo: 

  • Licences: CySEC
  • ultra-fast execution speeds
  • Instant execution on just one click
  • Customer compensation fund
  • Web Trader
  • Mobile Trader   
  • Negative balance protection
  • Account segregation

Trading charges of Brokereo:

  • Minimum deposit: 250 USD
  • Bonus: Not applicable
  • The maximum leverage offered: 1:500
  • Spreads starting from 0.03 pips 

3) Types of account 

The next point in the Brokereo review deals with the types of account it offers to traders. Just like other brokerage firms, it also provides three different retail accounts to its clients along with the professional account, demo account and Islamic trading account. The features and charges for these accounts are: 

Retail accounts

Silver account 

  • Commission: Zero USD
  • Maximum Leverage: 1:30
  • Minimum Deposit: 250 USD
  • Execution Type: Market
  • Minimum Spreads: 0.07 pips
  • Automated Trading: Yes
  • Platforms: Mobile trader and Web trader 
  • Tradable assets: 350+

Platinum account 

  • Commission: Zero USD
  • Maximum Leverage: 1:30 for the retail account and 1:400 or 1:500 for a professional account
  • Minimum Deposit: 250 USD
  • Minimum Spreads: 0.03 pips
  • Automated Trading: Yes
  • Execution Type: Market
  • Tradable assets: 350+
  • Platforms: Mobile trader and Web trader 

Gold account 

  • Commission: Zero USD
  • Maximum Leverage: 1:30 for the retail account and 1:400 or 1:500 for a professional account
  • Minimum Deposit: 250 USD
  • Minimum Spreads: 0.05 pips
  • Automated Trading: Yes
  • Execution Type: Market
  • Tradable assets: 350+
  • Platforms: Mobile trader and Web trader 

Professional account

With the professional account offered by the broker, you can get faster order execution speed, higher leverage as well as personal manager for your trading account. The maximum leverage value for this account is 1:500. However, the requirements for opening this pro account are also moderately elite:

  • 500,000 United States dollar of the minimum online trading portfolio
  • One must have an experience minimum one year in the field of finance 
  • A trader must have at least ten trade positions (per quarter) for the past four quarters

Islamic trading account 

Additionally, the trader can also apply for converting its retail trading account into an Islamic trading account. It will help him to get rid of overnight swap charges in his trades, but the other factors and features will remain the same. 

Demo Account 

In addition to these accounts, Brokereo also provides a demo account which helps to practice the trade and understand the fundamentals of trading before jumping into actual trading. 

4) Trading Platform

The trading cannot proceed without a proper and advanced platform. This platform provides all the features and tool through which you can check real-time data of the financial market. The execution mode, charting mechanisms, and technical indicators available on these platforms make your trading experience smooth. Brokereo offers two leading platforms on its official website for trading. Here are the crucial features of these platforms: 

Mobile Trader 

  • Automatic trading: Yes
  • Technical indicators: 60
  • Tradable assets: 350+
  • Order types: -+10
  • Web compatible: No
  • Copy-trading: No
  • Mobile compatible: Yes
  • Desktop compatible: No

Web Trader 

  • Automatic trading: Yes
  • Technical indicators: 60
  • Tradable assets: 350+
  • Order types: -+10
  • Web compatible: Yes
  • Copy-trading: No
  • Mobile compatible: No
  • Desktop compatible: Yes

5) Markets and Products for trading

Brokereo allows traders to select from a wide array of trading instruments from six distinct classes available on the official website, including:

  • Cryptocurrencies
  • Indices
  • Metals
  • Currency pairs
  • Shares
  • Commodities

The best thing about the plenitude of the trading instruments is that the trader can easily diversify its trading portfolio and can make it flexible to the unpredictable market movements. Therefore, Brokereo is the best platform which works on merging profitability with safety. 

In all, there are more than 350 instruments on the broker’s trading platform, which provides the trader with the chances to diversify its trading portfolio. Along with this, the execution policy of the broker is also beneficial. With the help of market execution mode, traders can place new orders without any notable slippage between the market prices. It allows to generate shallow spreaders and along with this help traders to harvest profits as much as he can. 

6) Account Opening with Brokereo 

It requires three simple steps to open a trading account with the broker. 

1) Get yourself registered by entering the basic details such as date of birth, full name, phone number, details of the profession)

2) Verify the above details by uploading the desired documents 

3) Fund the account 

7) Commissions and Fee

The broker charges zero commission fees on trading. However, it earns from the spread and swaps. The swap is a type of overnight commission taken by the broker. It is estimated by taking the difference between the interest rates of two different currency pairs. 

There is a discount available on these swaps:

  • For gold account: 25% discount
  • For platinum account: 50% discount

8) Deposit and Withdrawal

Deposit with the broker is executed instantly, whereas the withdrawal might take about five business days. For securing the withdrawals and deposits, the broker uses SSL encryption. The trader can make payment through multiple methods which include:

  • 1) Credit cards (V Pay, Mastercard, Visa, Maestro) 
  • 2) Wire transfer 
  • 4) Neteller, and 
  • 5) Skrill 

9) Leverage

The maximum leverage with the Brokereo can go up to 1:30 for the retail clients. For the Professional account, this leverage can rise up to 1:500 hence allowing to surge your trading capital to some extent.  

10) Is Brokereo a scam?

No, the broker is not a scam, and it is a safe way for investment. The Cyprus Securities and Exchange Commission regulates it. CySEC is one of the most reliable regulatory authorities in the financial trading market. It monitors the activities of the broker and ensures that the funds invested by the traders are treated and stored fairly. 

11) Pros and Cons of Brokereo

Pros

  • Ultra-fast execution speeds
  • Instant execution on just one click
  • Customer compensation fund
  • Web Trader
  • Mobile Trader   
  • Negative balance protection
  • Account segregation

Cons 

  • Meta trader 5 not available 

12) Brokereo research tools 

The tools available for the research are:

  • 1) Economic calendar 
  • 2) Report session calendar 
  • 3) Market analysers 
  • 4) News
  • 5) Sentiment reader  

13) Customer support 

Brokereo has a highly qualified team providing good customer support service to its clients. The trader can report its complaint by three major communication methods, namely:

  • Email id: support@Brokereo.com
  • Phone number: +448000318430
  • Live chat option on the website.

For traders, all these methods mentioned above are quick and super-helpful concerning the response time. Among these, live chat and phone calls are the best and easy way, whereas sending an email is good for complex issues if any. 

14) Education: Platform Demo, Video and Tutorial

One of the main characteristics of success in the financial market is trading knowledge. If the trader knows how to play with market fundamentals and how to deal with the market fluctuation, then the chance of his profit surges automatically. The various educational material offered by the broker are: 

  • Online courses
  • eBooks
  • Videos on Demand
  • Tutorials

15) Bottom Line 

As clearly visible from the Brokereo review, it is a save venture for trading. The broker also provides all the advanced features, platform and security measures for safe trading. The value of maximum leverage is also up to the market. So, in brief, we can say that it is the perfect choice for trading and you won’t repent pursuing trading with Brokereo.

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