Why Choose NetoTrade?
- Signals, Economic Calender & More
- No Hidden Charges at Withdrawal
- Low Spreads & High Leverages
NetoTrade is a global Forex brokerage and investment company that were founded back in 2010. The founders were a team of financial experts with a combined experience of over fifty years in the world of finance and foreign exchange. Their mission statement was simple; they wanted to provide online traders with the best prospects of success by offering a comprehensive financial trading service. As a fully regulated broker with headquarters in London, we would say that this strategy seems to be working.
With a minimum deposit of $250, a flexible leverage of up to 400:1, a range of generous new client sign up bonuses and fast withdrawals, there really is a lot to like about NetoTrade.
An internationally recognised regulatory body does not yet officially regulate NetoTrade. This doesn’t hint at unscrupulous activity by this broker, it simply means that they have not yet received an operations license from an internationally licensed governing or regulatory body.
It’s important for traders to understand that the global Foreign Exchange market is a decentralised market. This means that online brokers do not need a license, they can simply operate with an offshore company incorporation and business bank account. Many brokers seek regulation as a way to increase banking security for customers and a way to add more deposit methods. This is because once regulated, popular online payments systems such as Neteller, Skrill or even PayPal will provide their services to an online broker. Regulation therefore helps increase a brokers incoming revenues by providing more deposit methods; a vital part of any business’ growth strategy. Another benefit of regulation for brokers is it provides them with legitimacy as a financial institution.
Regulation benefits traders in a number of ways but namely, it requires the safeguarding of client funds by segregating them from the operational funds of a broker. It also provides additional security by providing an official body that will impose administrative sanctions, and disciplinary penalties to brokers to ensure investor protection. These are simple benefits, but they make a broker far more attractive to online traders.
There is no official central body governing the sector, however, the influx of online Forex brokers has given birth to a number of localised regulatory bodies such as the Cyprus Securities and Exchange Commission (CySEC). This regulatory agency regulates a number of online financial brokers, and applies the EU approved Markets in Financial Instruments Directive (MiFID) to allow CySEC regulated brokers to accept customers from the European Union.
We spoke with NetoTrade in June 2014 and were reassured that they were in the final stages of the approval process for a full CySEC license. Once this license has been obtained, they will of course adhere to the rules and regulations set out by the Markets in Financial Instruments Directive (MiFID). A broker must provide a honest and reliable service to qualify for the CySEC license, therefore we do believe that NetoTrade is a credible broker, however, we recommend you research all brokers before trading with them. If you’re reading this review, you clearly are doing your research! NetoTrade currently accept traders from around the world, however they do not accept US traders at present.
Trading Platform and Features
NetoTrade provide Demo and Live accounts for all traders. Once registered, you are provided with three platforms; the NetoTrade Web Platform, MetaTrader 4 (MT4), and the NetoTrade Mobile Platform. Each of these provides a fantastic trading experience for both novice and expert traders. A brief overview of each is provided below:
- MetaTrader 4 (MT4) – This is the industry standard for Forex trading and hardly needs an introduction. It is the world’s most popular online trading platform and is widely recognised as the most robust Forex trading solution available today. MT4 combines instant execution, high quality analysis and compatibility with EAs. You will also gain access to their widely used real-time charting systems and technical analysis tools. In addition to providing the proven MT4 platform, NetoTrade provide its traders with a free personal account manager and a powerful plugin called “Traders Compass”. Traders Compass is designed to support and improve trader’s abilities by analysing past trading activities and providing advice on current trades. It also analyses open positions against real-time market data and warns against unsound trade decisions, then suggests means for optimising your open positions. Traders Compass is an invaluable tool that helps traders improve their trading strategies. It’s also FREE to all clients of NetoTrade and simply requires a download after registration. Please note that MT4 is a windows application. Mac users will need to download the WineBottler emulator that allows Windows applications to run on the Apple OS.
- NetoTrade Web Platform – As you may have guessed by its name, this is a web-based platform and requires no download or installation. Traders can simply trade directly from their web-browsers at the NetoTrade website. The web platform is proprietary technology and connects/syncs with your NetoTrade account as normal to provide a unified experience across all platforms. It’s not as versatile as the MT4 platform but provides real-time quotes, allows you to place all order types, has a one-click trading feature and instant execution. The platform is intuitive and easy to use, and is a fantastic “Lite” alternative to the MT4 trading experience. As this is a browser-based platform, it is compatible with all computers and operating systems that can run a web-browser.
- NetoTrade Mobile Platform – The NetoTrade Mobile Platform is proprietary technology similar to the NetoTrade Web Platform. The mobile platform is coded in HTML 5.0 and is fully compatible with smartphones that use both iOS and Android operating systems. Simply download the relevant app from Google Play or the Apple App Store and begin trading. The mobile platform is marketed as a “Trade on-the-go” solution and offers real-time Forex currency charts, real-time market price overview and allows you to view real-time profit/loss of live trades. Traders can make stop-loss and take-profit orders here. They can even place instant in-app executions and view/modify orders with this handy little platform. It’s not a replacement for a desktop trading platform such as MT4 by any means, but it definitely provides traders with a good mobile solution with an extremely simple user interface.
Support and Services
NetoTrade are a quality broker, and as you’d expect from a broker of this size and type, their support services are extensive and readily available. They offer support via an extensive FAQ section within the main site. They also offer interactive support via Livechat, email, an online form and a UK phone number. It’s worth noting here that all traders will also receive the services of a personal account manager whose role it is to help you learn and trade more efficiently.
We recommend using Livechat for any issues that aren’t immediately addressed in the FAQ’s section, followed by a call to their sales team if you need an urgent response. The team are available at all times, but we recommend contacting them during EU business hours for a quick response.
NetoTrade offer accounts in two currencies, USD and EUR. Their minimum deposit is $250 and they offer a flexible leverage with a maximum of 400:1. They provide a number of promotions and offers as incentives for newly registered traders, so please contact their support team for more information when opening your account.
You can fund your real-money trading account with Credit and Debit Cards, as you would expect. NetoTrade also accepts Wire Transfer and deposits via the online payment gateway, CashU. Deposits can only be made in either US dollars or Euros and all deposit methods with the exception of CashU can be used as a withdrawal option.
New Traders at NetoTrade will have to go through the usual account verification processes. Once the account verification process is completed, you will be able to make withdrawals without any delays.
Why Trade at NetoTrade
There are a number of reasons that we believe NetoTrade is a broker worth considering. They offer attractive bonuses, tight Forex spreads, flexible leverages, low rates, an established platform and the offer of straight through processing (STP). They also offer a low deposit amount of just $250, and offer a personal account manager capable of either guiding new traders, or helping more experienced traders to optimise their trading strategies.
There are many reasons why we think you should become a new client of NetoTrade, but what matters is what you think. Why not open a free demo account and explore the options available to you? We encourage you to get used to the way their various trading platforms operate, and explore the assets and tools on offer. Once you truly understand the trading experience at NetoTrade, simply make a deposit and start your trading career with one of their real-money trading accounts.
We are happy to showcase NetoTrade as an “Approved TradersAsset Forex Broker”. They have been established for several years and proven time and time again that they can, and do, offer a fully rounded trading experience. They’re pending regulation, but are a broker worth considering and one that we highly recommend.