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Garnet foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://www.garnettrade.com/auth/live-account, about the company's legal and temporary regulatory information, the company's address .

Garnet Forex Broker

Basic Information

Registered Region

Saint Vincent and the Grenadines

Operating Period

Company Name

Garnet Trade Ltd

Abbreviation

Garnet

Company employee

Customer Service Email Address

info@garnettrade.com

Contact Number

+1 647 8466572

Company Website

https://www.garnettrade.com/

Facebook

https://www.facebook.com/tradegarnet

https://twitter.com/tradegarnet?s=08

Keywords

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

Company profile

GENEREAL INFORMATION Garnet Trade isnt easy to pin down. The broker offers pretty attractive trading conditions, which include access to the advanced MetaTrader5 platform, leverage of up to 1:300, and competitive spreads. As far as financial regulation is concerned, however, things get complicated. Garnet Trade is a company that offers forex brokerage services. This platform allows you to trade CFDs, Indices, Stocks, Commodities, and Currency pairs. It is a company that has been in the market for a little over a year. The team behind it promise the highest level of transparency and professionalism. Consequently, they believe to be the best forex broker in the market. The only problem is that all companies say that about themselves. REGULATION No valid regulatory information, please be aware of the risk. We can argue that they are genuinely legitimate, although it is a little tricky. Garnet Trade is an offshore broker with a St. Vincent and the Grenadines registration, which comes with all the risks that go along with that. On the other hand, they are an authorized FinaCom member and a legitimate Australian brokerage's subsidiary. INVESTMENT PLANS On garnettrade.com, there are three different types of accounts. The Standard, Prime, and ECN accounts fall within this category. Depending on the amount of investment a client makes, these accounts vary. The minimum deposit for the Standard account is $100. There is no minimum balance requirement for this account, though. With this account, you can leverage up to 1:300 with spreads starting at 0.9 pip. Additionally, 0.01 lots constitute the minimum trade volume. The minimum deposit for the Prime account is $5,000. The minimum balance for this account is $1,000, though. It offers customers leverage up to 1:300 and spreads starting at 0.5 pip. The minimum trade volume is 0.1 lots as well. The ECN account is the last one. A $20,000 minimum deposit is required for this. For this account type, the minimal balance is $10,000. Customers receive spreads starting at 0.1 pip and up to 1:300 in leverage. Additionally, 0.1 lots constitute the minimum trading volume. In addition, this account has a commission. Per $100 transacted, there is a commission of one per side. What trading platforms are available at Garnet Trade？ The MetaTrader5 (MT5) platform is one that Garnet Trade supports, and it's a fantastic option. You can look at some reputable firms offering trading on the MT5 here as well. And since MT5 is arguably the best forex trading platform, we advise working with them. Most of the features of the MT4's predecessor have been carried over to the newest version of MetaQuotes' trading terminal, which is technologically more advanced and allows trading in both derivatives and exchange-traded stocks from the same account. It is available as desktop downloads, online versions, and mobile applications. SPREAD According to Garnet Trade, the EUR/USD spread is as little as 0.9 pip, and we tested the broker's MT5 and it is indeed that small. Visit our dedicated section with real-time spreads for further details and a comparison of trading fees for forex trading. What level of leverage is offered by Garnet Trade？ Garnet Trade offers leverage up to a whopping 1:300, which is rather large and increases the risk that you could lose more money than you initially invested. We would advise sticking with legitimate brokers who also provide high leverage ratios once more. Some of them also offer protection from negative balances. What is the Garnet Trade minimum deposit amount？ Garnet Trade promotes account levels with starting balances of $100, which is a typical starting point for trading. But keep in mind that some brokers want even less, especially those who provide low-risk micro accounts. What forms of payment are accepted at Garnet Trade？ It appears that Garnet Trade uses Skrill, Neteller, wire transfers, credit cards, and wires. You can browse a long list of brokers here who accept VISA and MasterCard because we generally think of cards as the safest payment method of all. Support for Garnet Trade Customers Customer service is a must for every business managing customers' money. Fortunately, Garnet Trade has a solid customer service program. They offer a number of ways to contact them by phone or text. +1 647 846 6572 is the company's toll-free number in Canada. Additionally, you can reach them on their +61 291919765 Australian and +44 20 38070029 English lines. Additionally, you can WhatsApp SMS the business at +44 7376 500082 or +905-510-9627. Additionally, you can contact the business by email at info-ca@garnettrade.com or info-au@garnettrade.com. The only issue we have with this business is that it has a broken live chat feature. Garnet Trade Control and Fund Security The regulation of a firm is the most crucial factor to look into. Regulatory organizations keep an eye on business activities to make sure they comply with the law. Additionally, they guarantee that businesses have the proper banking arrangements in place to safeguard investors' money. A segregated account in a tier-1 bank is one example of this. To put it mildly, there are certain gaps in the regulation of Garnet Trade. On the one hand, they are a division of a business that is subject to ASIC regulation. However, this business is based in Saint Vincent and the Grenadines. This area is known for being a haven for illegal activity. This is because the laws in this area are fairly lax.

Garnet broker review

Is Garnet safe or scam

Rating Index

ECN Account

Minimum Deposit

20000

Prime Account

Minimum Deposit

5000

How to login to Garnet?

Garnet Complete Account Guide: Registration, Account Opening, and Login Processes Navigating the world of online educational platforms can be daunting, especially when trying to set up your account. This comprehensive guide will walk you through the processes of registering, opening, and logging int

Garnet Forex Broker - Complete Information Guide

1. Broker Overview

　　Garnet Trade Ltd, established in 2006, is a prominent player in the forex brokerage industry. The company is headquartered in Skopje, North Macedonia, with additional regional offices in Australia, Canada, and the United Kingdom. As a private entity, Garnet Trade operates as a subsidiary of MGF Capital Pty Ltd, which is regulated by the Australian Securities and Investments Commission (ASIC).

　　The broker primarily serves retail and institutional clients, providing access to a wide range of trading instruments. Over the years, Garnet Trade has achieved significant milestones, including the launch of its trading platform and the expansion of its services to over 50 markets worldwide. The company prides itself on offering a transparent and professional trading experience, which it claims sets it apart from competitors.

　　Garnet Trade operates under a multi-faceted business model, focusing on retail forex trading and providing institutional services such as trade execution and clearing. This approach allows the broker to cater to a diverse clientele, including individual traders and larger financial institutions.

2. Regulatory and Compliance Information

　　Garnet Trade is regulated by several authorities, including:

　　ASIC (Australian Securities and Investments Commission)
　　License Number: 001305577
　　Mwali International Services Authority (MISA)
　　License Number: T2023429

　　The regulatory licenses held by Garnet Trade ensure compliance with various financial standards and practices. The ASIC license is particularly noteworthy, as it is considered one of the most reliable regulatory frameworks in the world.

　　Garnet Trade implements a robust Know Your Customer (KYC) and Anti-Money Laundering (AML) policy to ensure that all client identities are verified and that the funds are sourced from legitimate activities. This is crucial for maintaining the integrity of the trading environment and protecting investors.

　　Client funds are held in segregated accounts, which means that they are kept separate from the broker's operational funds. This practice enhances the security of client deposits, ensuring that they remain protected even in the event of the broker facing financial difficulties.

　　Additionally, Garnet Trade is a member of the Financial Commission, which provides an investor compensation fund of up to €20,000 per case. This membership offers clients an additional layer of security and recourse in case of disputes.

3. Trading Products and Services

　　Garnet Trade offers a diverse range of trading products, including:

Forex Trading: Over 40 currency pairs, including major, minor, and exotic pairs.
CFDs: Contracts for difference on commodities, indices, stocks, and precious metals like gold and silver.
Cryptocurrencies: While specific offerings may vary, the broker does provide access to various cryptocurrency trading options.

　　The broker continuously updates its product offerings to adapt to market trends and client demands. Retail trading services are designed for individual traders, while institutional clients can benefit from tailored solutions, including white-label services and asset management.

　　Garnet Trade aims to provide a comprehensive trading experience that caters to the needs of both retail and institutional clients, allowing them to diversify their portfolios across various asset classes.

4. Trading Platforms and Technology

　　Garnet Trade predominantly supports the MetaTrader 5 (MT5) trading platform, which is renowned for its advanced features and user-friendly interface. The platform is available for:

Desktop: Windows and MacOS versions.
Web: Accessible through any internet browser.
Mobile: Dedicated applications for both iOS and Android devices.

　　The MT5 platform allows traders to execute trades in both derivatives and exchange-traded stocks from a single account, making it a versatile choice for traders of all levels.

　　Garnet Trade operates on an ECN model, which facilitates direct market access and ensures tight spreads. The broker's technological infrastructure is robust, with servers located in strategic locations to enhance execution speed and reliability. Additionally, the broker supports API access for automated trading, catering to algorithmic traders and those seeking to implement trading strategies using expert advisors (EAs).

5. Account Types and Trading Conditions

　　Garnet Trade offers several types of trading accounts tailored to different trading styles and capital levels:

　　Standard Account:
　　Minimum Deposit: $100
　　Spread: Starting at 0.9 pips
　　Commission: None
　　Prime Account:
　　Minimum Deposit: $5,000
　　Spread: Starting at 0.5 pips
　　Commission: None
　　ECN Account:
　　Minimum Deposit: $20,000
　　Spread: Starting at 0.1 pips
　　Commission: $1 per side for every $100 transacted
　　Islamic Accounts: Available for clients who require Sharia-compliant trading options.

　　Garnet Trade provides a demo account for traders to practice their strategies without risking real money. The leverage offered by the broker varies by account type, with a maximum of up to 1:500 on certain accounts, which can significantly amplify trading potential but also increases risk exposure. The minimum trade size is 0.01 lots, and overnight fees are applied based on the positions held.

6. Fund Management

　　Garnet Trade supports various deposit methods, including:

Bank Transfers
Credit Cards (Visa, Mastercard)
Electronic Wallets (Skrill, Neteller)
Cryptocurrency Transfers (Tether, USDT)

　　The minimum deposit requirement varies by account type, with the standard account starting at $100. Deposits are typically processed quickly, often within a few hours, while withdrawal requests are processed within one hour on business days.

　　There are no fees for deposits; however, withdrawal fees may apply depending on the method used. Clients can withdraw funds using the same methods as deposits, ensuring convenience and security.

7. Customer Support and Educational Resources

　　Garnet Trade prioritizes customer support, providing multiple channels for assistance:

Phone Support: Available in Canada, Australia, and the UK.
Email Support: Clients can reach out via dedicated email addresses.
Live Chat: Although currently experiencing issues, it is intended to offer real-time assistance.
Social Media: Active presence on platforms like Facebook and Twitter.

　　The broker offers support in multiple languages, ensuring accessibility for clients from various regions. Educational resources include webinars, tutorials, and market analysis services that help traders enhance their skills and stay informed about market trends.

8. Regional Coverage and Restrictions

　　Garnet Trade operates in multiple markets globally, with a strong presence in Europe, Australia, and North America. The broker's regional offices facilitate local support and services tailored to specific markets.

　　However, Garnet Trade does not accept clients from certain restricted jurisdictions, including countries with strict financial regulations or those where the broker is not licensed to operate. This includes regions like the United States, Canada, and some parts of Asia.

　　Overall, Garnet Trade aims to provide a comprehensive trading experience while adhering to regulatory standards and ensuring client funds' safety.

　　In conclusion, Garnet Trade represents a viable option for traders looking for a broker that offers a diverse range of products, a robust trading platform, and a commitment to customer service. With its various account types and competitive trading conditions, it caters to both novice and experienced traders in the forex market.

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