Existrade Forex Broker

Existrade Forex Broker - Comprehensive Information Guide

1. Broker Overview

　　Existrade, officially known as Existrade Ltd, was established in 2012. The company is headquartered in Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, Saint Vincent and the Grenadines. Existrade operates as a private entity and primarily serves retail clients in the forex and CFD markets.

　　Over the years, Existrade has developed a reputation in the trading industry, having garnered a client base of over 400,000 registered users. The broker offers a range of services, including access to various trading instruments across different asset classes. Existrade has achieved several milestones since its inception, including the introduction of competitive trading conditions and a user-friendly platform that appeals to both novice and experienced traders.

　　The company operates primarily in the retail forex market, providing a platform for individual traders to engage in trading activities. Existrade broker aims to facilitate trading by offering low minimum deposits and competitive spreads, thus attracting a diverse client base seeking to capitalize on market opportunities.

2. Regulatory and Compliance Information

　　Existrade currently operates without valid regulatory oversight. It is registered in Saint Vincent and the Grenadines, but there are no specific licenses issued by reputable regulatory authorities. This lack of regulation raises concerns regarding the safety and security of client funds.

　　The broker does not provide clear information about its regulatory numbers or the scope of its licenses, which is a significant red flag for potential clients. Existrade does not participate in any investor compensation schemes, leaving clients vulnerable in the event of financial disputes.

　　In terms of compliance, Existrade claims to adhere to Know Your Customer (KYC) and Anti-Money Laundering (AML) policies. However, the effectiveness of these measures cannot be verified due to the absence of regulatory oversight. Clients are advised to exercise caution when engaging with unregulated brokers like Existrade.

3. Trading Products and Services

　　Existrade offers a diverse range of trading products, focusing primarily on CFDs, metals, oil, and cryptocurrencies. The broker does not support traditional forex pairs or commodities trading.

　　The following are the key trading instruments available through Existrade:

• Cryptocurrencies: A selection of popular cryptocurrencies, including Bitcoin and Dash.
• CFDs: Contracts for difference on various assets, allowing traders to speculate on price movements without owning the underlying asset.
• Metals: Trading options for precious metals, providing an avenue for diversification.
• Oil: Access to trading in both UK Brent and US crude oil.

　　Existrade supports over 200 trading instruments in total, catering to a wide array of trading preferences. However, the absence of forex pairs and commodities may limit options for some traders. The broker updates its product offerings periodically, although specific timelines for new additions are not disclosed.

4. Trading Platforms and Technology

　　Existrade provides its clients with access to two primary trading platforms: WebTrader and MetaTrader 5 (MT5).

• MetaTrader 5: This advanced platform supports multi-asset trading, allowing users to trade cryptocurrencies, stocks, and futures. It includes enhanced technical analysis capabilities and algorithmic trading features, making it a popular choice among experienced traders.
• WebTrader: This platform allows traders to execute trades directly through their web browser without needing to install additional software. It offers full functionality across various operating systems, ensuring accessibility for all users.

　　Existrade also provides a mobile application compatible with both iOS and Android devices, enabling traders to manage their accounts and execute trades on the go. The broker utilizes a market execution model, ensuring that trades are executed at the best available prices.

　　The server infrastructure is located in Ukraine, and Existrade claims to offer reliable quotes through established liquidity providers. The broker also supports API access for automated trading, catering to more technically inclined clients.

5. Account Types and Trading Conditions

　　Existrade offers a variety of account types to meet the needs of different traders. The following are the key features of these accounts:

• 　　Standard Account:

• 　　Minimum Deposit: $1

• 　　Spreads: Starting from 0.2 pips

• 　　Commission: Varies based on payment method

• 　　Advanced Accounts: Options for VIP and professional accounts may be available, although specific details are not disclosed.

• 　　Islamic Accounts: Existrade provides options for Islamic accounts, adhering to sharia-compliant trading principles.

• 　　Demo Accounts: Traders can open demo accounts to practice trading strategies without risking real funds.

　　Leverage ratios vary based on the asset class, with maximum leverage reaching up to 1:500 for forex trading. The broker imposes a minimum trading size of 0.01 lots, and overnight fees are applicable depending on the positions held.

6. Fund Management

　　Existrade supports multiple funding methods for deposits and withdrawals, including:

• Bank Transfers
• Credit/Debit Cards
• E-Wallets: Such as Payeer, Perfect Money, and AdvCash

　　The minimum deposit varies by method, with a general requirement of $1 for most options.

• Deposit Processing Time: Instant for credit cards and e-wallets; up to 5 banking days for bank transfers.
• Deposit Fees: Generally, there are no fees for deposits, although certain methods may incur charges.

　　For withdrawals, clients can expect:

• Withdrawal Methods: Similar to deposit methods.
• Withdrawal Processing Time: Typically within 30 minutes.
• Withdrawal Fees: Fees range from 2.5% + 50 RUB to 4% + $5 USD, depending on the currency and method used.

7. Customer Support and Educational Resources

　　Existrade offers a range of customer support channels, including:

• Phone Support: Available at +44 870 479 8221
• Email Support: Clients can reach out via support@existrade.com
• Live Chat: 24/7 support through the website

　　The broker provides support in multiple languages, ensuring accessibility for a global client base.

　　In terms of educational resources, Existrade offers a variety of tools, including:

• Webinars: Covering various trading topics.
• Tutorials: Guides on using the trading platform and market analysis.
• Market Analysis Services: Daily updates and research reports to assist traders in making informed decisions.

　　Additionally, Existrade provides trading tools such as calculators and economic calendars to enhance the trading experience.

8. Regional Coverage and Restrictions

　　Existrade primarily serves clients from Saint Vincent and the Grenadines and other regions where it has established a presence.

• Main Service Markets: The broker targets clients globally, but specific regional restrictions apply.
• Restricted Countries: Existrade does not accept clients from the United States, Canada, Iran, and North Korea.

　　Special restrictions may apply depending on local regulations, and potential clients should verify their eligibility before opening an account.

　　In conclusion, while Existrade broker offers a range of trading instruments and competitive conditions, the lack of regulation and transparency raises concerns for potential clients. Traders should conduct thorough research and consider the risks associated with unregulated brokers before engaging in trading activities.