Trading is a very delicate and sensitive process. The trading world has several elements and parts, and the slightest flaw in any of them can cost you a lot if not properly addressed. Because of this, choosing a good broker is very crucial to the success of your trade. Choosing the right broker can help you avoid several concerns that can ultimately cost you your capital and profits.
If you look at the current trading market, there are thousands of online brokers you can sign up for and many of them you don’t even know if they are good or not. This is why we do extensive research on brokers so that we can help you make a more informed decision when choosing a broker.
This review is a comprehensive analysis of a Cyprus based broker, Brokereo, and in the end it will help you determine whether or not this broker is worth your resources and time. We will be examining the regulations, trading platform, assets and everything else to help you decide whether or not to deposit your money and trade on this platform.
One look at the Brokereo website, the attractive and user-friendly design will no doubt grab your attention. What is more impressive is the careful and complete organization of the information it contains. Obviously, this is not a broker that has anything to hide.
In essence, Brokereo is a Cyprus based broker that trades Contact for Difference (CFDs), much like most of the online brokers you can find today. As it is located in Cyprus, it complies with the CySEC regulation and complies with MiFID II standards. Brokereo offers a wide range of trading opportunities. There are no commissions or fees. Leverage follows standard MiFID guidelines while providing a professional account that can help traders and investors increase leverage. In conclusion, just taking a first look at the platform, it appears to be a trustworthy and reliable CFD broker.
Now let’s go a step further and analyze the main aspects of Brokereo.
Third party regulations can have a massive impact on trading security for any broker. Brokereo has this covered. It is operated and owned by Concorde Investments Ltd which operates under license number 189/13 in accordance with CySEC.
The direct impact of this regulation is that the CySEC regulation checks the legitimacy of this broker. However, there are other reasons why you as a trader should appreciate this standard even more. The CySEC regulation also offers traders and investors critical protection of their rights and investments. It emphasizes segregation to keep the broker’s resources and your funds separate. It also ensures negative balance protection to ensure you never owe more than you currently have in your accounts. In addition, this regulation also provides for a compensation fund to protect you from losing money if the broker goes bankrupt or becomes insolvent.
Brokereo accounts order almost anything you would need in an online broker. This can be seen directly from the demo account, which gives you a trading market experience without having to pay a penny. The demo account is quite handy as a tool for novice and less experienced traders to practice and test the market’s reaction to certain conditions and actions. It’s a great way to slowly learn about trading without losing any real money.
If you think you have the required experience, you can sign up for the live trading accounts. These accounts follow a tiered framework that you can start with a minimum of $ 250. There are essentially three accounts available, each tailored to suit investors with different levels of experience and skill. They follow the conventional name pattern, ie with precious metals, whereby higher values are designated with the more valuable metals. Thus the levels are platinum, gold and silver.
Each account has 1:30 leverage for retailers, access to 300CF assets, and hedging. However, the swap discounts and minimum spreads for silver, gold and platinum are zero and 1.0, 25% and 0.4, 50% and 0.3, respectively.
The accounts are further divided into personal and business accounts. The function on the private account is primarily aimed at reducing risks as much as possible, so they are limited or limited, including leverage. Conversely, professional accounts can enjoy leverage of up to 1: 500 as well as some attractive features to help them maximize their profits. These two accounts are intended for traders of different levels. The professional account, as the name suggests, is mainly intended for advanced traders, while the retail account is intended for beginners.
Aside from the personal and professional accounts, there is an option for an Islamic account that retains all functions except overnight swaps. This is the best option for people who want to trade while following Islamic standards and regulations as stated in the Quran and Sharia law
At Brokereo, every choice is right. That said, it all depends on your understanding of the market and how comfortable you are with your capital and investments. This is how a trader decides for himself.
Registration does not take a full day. In fact, you can have it done in a matter of minutes. All you have to do is provide the required information on the platform and Brokereo will check your access data within two working days. Once approved, you can start depositing cash and making profits from trading.
Brokereo currently offers five primary asset classes for you to choose from;
- raw materials
- Currency pairs
In total, you can access over 300 of these assets that you can trade as CFDs on the platform. This number is high enough to give you the opportunity to diversify your portfolio and ensure that there is always a profitable market to trade.
When examining the trading conditions, as mentioned earlier, the leverage for each market complies with MiFID-II standards, with the maximum being 1:30 for users of personal accounts. It is also a bit higher than normal, which the platform compensates for with its zero commission. Brokereo uses an STP execution model that prevents slippage. Therefore, with Spreads, you can be sure that what you see is what you are getting.