Rating Index
Pros
Offers the popular MetaTrader 4 platform, which is well-regarded for its charting capabilities and automated trading options.
Provides a wide range of financial instruments, including forex currency pairs, indices, stocks, CFDs, and commodities.
Targets the Russian market with various payment methods, which may be convenient for local traders.
Cons
Unregulated broker with low credibility, raising concerns about the security of client funds.
High minimum initial deposit requirement of $5,000, which is significantly above industry standards and may deter new traders.
Issues with accessing the trading platform, including the inability to log in to real accounts and create demo accounts, indicating potential operational problems.
OnlyTrades broker Accounts
Only Trades Account Type
Only Trades offers various account types tailored to meet the needs of different traders. However, specific details regarding the types of accounts available are not clearly defined in the provided information. It's essential to note that Only Trades is categorized as a closed broker, which means they are no longer operational. This may limit the availability of account types for potential users. Generally, forex brokers like Only Trades may offer accounts such as standard accounts, mini accounts, and managed accounts, but the specifics for Only Trades are not detailed.
Only Trades Broker Account Opening Process
The account opening process for Only Trades is not explicitly outlined in the provided information due to the broker's closed status. Typically, the process for opening a brokerage account involves the following steps:
- Choose Account Type: Decide on the type of trading account you wish to open, such as a standard account or a mini account.
- Complete Application: Fill out the online application form with your personal information, including name, address, and identification details.
- Verification: Submit necessary documentation for identity verification, which may include a government-issued ID and proof of address.
- Fund Your Account: Deposit funds into your trading account. This may involve transferring money from a bank account or using other funding methods.
- Start Trading: Once your account is funded and verified, you can begin trading on the platform.
Please note that since Only Trades is a closed broker, potential traders should consider alternative brokers for opening a trading account.
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