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EuroTrader Broker Review
Eurotrader: This Offshore Broker Shows Little Transparency
Investors can trade FX and CFDs using the online broker Eurotrader. Their headquarters are in the Marshall Islands, and they are registered with the local financial watchdog. Sadly, this jurisdiction is frequently utilized to get around the tougher regulations enforced by authorities like the FCA and CySEC. There are indications that something is amiss, yet it may not necessarily be an issue. The parent business of the broker, Eurotrade Global Ltd, also manages ET Global Investments Ltd in the UK without the necessary FCA permission.
| Broker Status: | Offshore brokers blacklisted |
| Regulated by: | CySEC |
| Warned by: | UK FCA, Spain CNMV |
| Owned by: | Eurotrade Investments RGB Ltd. |
| Headquarters Country: | Cyprus |
| Year Established: | 2015 |
| Platforms supported: | MetaTrader 4, MetaTrader 5, Web, Mobile |
| Minimum deposit: | $50 |
| Cryptocurrencies: | Yes |
| Types of assets: | Forex, stocks, commodities, indices, cryptocurrencies, CFDs |
| Maximum leverage: | 1:500 |
| Free demo account: | Yes |
Eurotrader Account Types
The broker’s own website lacks consistency, which is another key warning sign. There are four separate accounts listed in the account types section: Bronze, Premium, Platinum, and Exclusive. The higher accounts, according to them, offer better spreads, greater leverage, and a greater maximum number of trades.
However, they list their accounts as Micro, Gold, and VIP in the trading accounts and conditions. These accounts display benefits that are comparable to those in the earlier accounts, but with different values. Which is correct or how a broker may make such a mistake are both unclear.
Eurotrader Minimum Deposit and Demo Accounts
While most brokers only require a $100 deposit, Eurotrader requires a minimum deposit of $250. The broker claims to provide a demo account for traders to get acquainted with their services.
The demo account is inactive and does not actually permit users to make fictitious demo investments, but traders can register. Any prospective clients should be suspicious of this broker because of the lack of transparency and clarity in their communications.
Eurotrader Spreads
The demo account does not allow traders to view the spreads offered by the broker, but even those spreads are not particularly appealing. The majority of investors would prefer a EUR/USD spread that is closer to 1.0, not theirs, which is 1.4. This pair typically serves as a reliable indicator of the spreads offered by a broker, and it suggests that Eurotrader doesn’t have much to offer.
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