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LetsTrade Forex broker specializes in providing foreign exchange trading services, the company's official website https://www.avatrade..., the company's legitimate regulatory information CyprusCYSECDerivatives Trading License (MM) to enhance the security of the company's address 7 Bell Yard, London, United Kingdom WC2A 2JR

LetsTrade Forex Broker

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GENERAL INFORMATION AND REGULATION LetsTrade is a forex and CFD brokerage that is a part of the JFD Group. It appears to offer a good variety of forex & CFDs on the MetaTrader4 platform, but no choice of different trading account types. The broker also claims to provide STP execution and Negative balance protection. LetsTrade is a part of the JFD Group, whose prominent member JFD Group Ltd. (operating JFD Brokers) is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).The other group member, JFD Overseas Ltd, is an offshore entity, authorized as a Dealer in Securities by the Vanuatu Financial Services Commission. Letstrade.com is an approved domain of JFD Group Ltd., however it seems that some of the brokers clients are serviced by the offshore entity. Our main concern with LetsTrade is that there are two companies behind the brokerage brand, one of which is registered offshore. Besides, the costs of trading with it are slightly above the average. Otherwise, the broker is a member of the JFD Group, the domain is approved by the CySEC and the other company behind the brand is regulated in Cyprus (and Europe). MARKET INSTRUMENT Lets trade have a lot of tradable assets and instruments, they have broken them down into a number of different categories which we will now look at. Forex: With offering more the 50 currency pairs. Metals: Gold and Silver Commodities: Brent Crude Oil, London Gasoil, US Cocoa, US Coffee, US Cotton, US Sugar, WTI Crude Oil, BNatural Gas, Platinum, High Grade Copper Bonds: Bund, US 10 Yr T-Note ETNs and ETFs: We wont outline them all but three examples are Ishares MSCI EMG Markets, Ishares South Korea Index and, Ishares NASDAQ Biotech. Stocks: There are far too many for us to list, but they include the likes of Admiral Group, Aviva, Adidas, Allianz, Aegon, Amadeus IT Holdings, Auto Trader, Anglo American and that is just a few of the ones beginning with A. Indices – Cash: A few of them include Australia 200 Index, Euro 50 Index, UK 100 Index and, US Dow Jones Index. Indices – Futures: China A50 Index, German 30 Index Futures, US Dollar Index, Singapore Blue Chip Index, US Dow Jones Index Futures and, US 500 Index Futures are just some examples of what is available. Cryptocurrencies: Bitcoin (BTCUSD) ACCOUNT AND LEVERAGE LetsTrade Offers only one Standard account, and in order to open a Standard account with LetsTrade, one has to deposit at least $500, which is a bit high initial investment. By comparison, most forex brokers require something in the range of $100 – $250 as a start. With other brokers, you can register a live account by investing just $5. On its website LetsTrade says it provides high leverage ratios, reaching 1:400. However, such leverage levels can be provided only to non-EU residents by the offshore company within the JFD Group. As some of you are probably aware, in August 2018 the European Securities and Markets Authority (ESMA) restricted the maximum leverage allowed for retail forex traders on the European market to 1:30 due to investment protection concerns. Demo accounts are also available from Lets Trade when signing up a simply select demo account and then you can get a choice of account currency (EUR, GBP, USD or CHF) and a balance of between 500 and 5,000,000. It will use the same conditions we have mentioned in this review but there is no mention of an expiration time so hopefully, it will stay open indefinitely. TRADE SIZE Trade sizes start from 0.01 lots (known as micro-lots) and go up in increments of 0.01 lots, the maximum trade size is 1000 lots which is a bit too high, we would recommend not trading anything over 50 lots in a single trade. There is no indication of the maximum number of open trades at any one time but we would expect it to be quite high considering the maximum lot size is so high. SPREADS AND COMMISSIONS The spreads information in relation to trading conditions seem to be missing even in LetsTrade website, we understand that they are variable which means they move with the market and when the markets are being extra volatile they are seen higher, but we do not have a starting figure or any examples of live spreads to give. TRADING PLATFORM AVAILABLE Clients of LetsTrade are offered trading on the ever popular MetaTrader4 (MT4). This trading terminal offers superior charting and wide range of professional trading tools and features, such as wide range of technical analysis indicators, automated strategies (Expert Advisors), and more. Besides, it is easy to use and provides many customization options. DEPOSIT AND WITHDRAWAL There isnt a funding or deposit page on the website so the details of the deposits are unknown. At the bottom of the site are some pictures of Visa, MasterCard, Maestro, Skrill, Safecharge and Sofort, so our understanding is that these methods are available to deposit with. There is also no mention of any fee s on the site, so we are not clear if there are any or not,m, either way, be sure to check with your bank or processor if you do deposit if they charge any fees of their own. CUSTOMER SERVICE The customer support team is available 24 hours a day from Sunday 22:00 to Friday 21L00 (UK time). You can get in contact by using the online submission form to fill in your query and submit or by using the address or phone number we have provided below. Head Office: 40 Bloomsbury Way, London, United Kingdom, WC1A2SE Phone: +44 02079808803

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Pros

Regulated in Cyprus by the Cyprus Securities and Exchange Commission (CySEC), providing a level of security for clients.

Offers access to the popular MetaTrader 4 platform, known for its reliability and extensive trading tools.

Provides negative balance protection, ensuring that clients do not lose more than their account balance.

Cons

Trading costs are slightly above the industry average, with spreads and commissions that may deter some traders.

The minimum deposit requirement of $500 is relatively high compared to many other brokers, making it less accessible for new traders.

Lack of transparency regarding deposit and withdrawal methods, which can be a concern for potential clients.

Basic Information

Registered Region

United Kingdom

Operating Period

Company Name

LETSTRADE

Abbreviation

LetsTrade

Company employee

Company Website

https://www.letstrade.com/

Company Address

7 Bell Yard, London, United Kingdom WC2A 2JR

Facebook

https://web.facebook.com/letstrademarkets/

https://twitter.com/letstrademarket/

https://uk.linkedin.com/company/letstrade.com-limited

How to login to LetsTrade?

letstrade Complete Account Guide: Registration, Account Opening, and Login Processes Part One: Account Registration Process How to Register a letstrade Account Registering for a letstrade account is the first step to accessing their trading platform. Follow these detailed steps to successfully complete the registration process: Step 1: Accessing the Registration Page Begin by visiting the official letstrade website. Look for the “Sign Up” or “Register” button, typically located in the top right corner of the homepage. Insert screenshot of the homepage with the registration button highlighted here. Step 2: Filling in Required Information Once on the registration page, fill in the required fields, which may include your name, email address, phone number, and a secure password. Ensure that your password meets the platform's security requirements. Step 3: Email/Phone Verification After submitting your information, you will receive a verification email or SMS. Click the link in the email or enter the code sent to your phone to verify your contact information. This step is crucial for account security. Step 4: Identity Verification (if required) Depending on your region, you may need to provide additional identity verification documents, such as a government-issued ID or proof of residence. This is a standard procedure to comply with regulatory requirements. Step 5: Registration Confirmation After completing the verification steps, you should receive a confirmation message indicating that your registration was successful. At this point, you can proceed to log in to your new account. Common Registration Issues and Solutions Issue: Not receiving the verification email. Solution: Check your spam folder or ensure that you entered the correct email address. If the issue persists, try resending the verification email from the registration page. Issue: Difficulty with identity verification. Solution: Ensure that your documents are clear and legible. If problems continue, contact customer support for assistance. Regional Differences in Registration Users from certain regions may face additional requirements or restrictions during registration. For example, residents of the United States may not be eligible for certain trading services. Always check the terms and conditions specific to your location. Part Two: Account Opening Process letstrade Account Opening Detailed Guide The account opening process involves more than just registration. It allows you to set up your trading capabilities. Heres a comprehensive guide: Explanation of Differences Between Registration and Account Opening Registration creates your account on the platform, while account opening involves selecting your trading preferences and funding your account to start trading. Preparation Work Before Account Opening Before opening your account, ensure you have the necessary documents ready for verification, including identification and proof of address. Familiarize yourself with the types of accounts available. Detailed Account Opening Steps Step 1: Selecting Account Type After registering, navigate to the account opening section. You may have options for different account types, such as standard or demo accounts. Choose the one that suits your trading needs. Step 2: Submitting Required Documents Upload the necessary documents for identity verification. This may include a government-issued ID and proof of address (e.g., utility bill). Step 3: Account Review Process Once your documents are submitted, the letstrade team will review them. This process can take anywhere from a few hours to a couple of days, depending on the volume of applications. Step 4: Account Activation After your account has been approved, you will receive an activation confirmation. Step 5: Initial Setup Log in to your account and configure your trading preferences, including setting up payment methods for deposits and withdrawals. Frequently Asked Questions About Account Opening Q: How long does it take to open an account？ A: The account opening process can take a few hours to several days, depending on document verification speed. Q: What documents are needed for account opening？ A: Typically, a government-issued ID and proof of address are required. Next Steps After Opening an Account Once your account is active, consider funding it to start trading. Familiarize yourself with the platforms features and tools available for traders. Part Three: Login Guide letstrade Login Process Explained Accessing your letstrade account is straightforward. Heres how to log in: Basic Web Login Process Step 1: Navigate to the Login Page Visit the letstrade website and locate the “Login” button, usually found in the top right corner. Step 2: Enter Your Credentials Input your registered email address and password in the provided fields. Step 3: Two-Factor Authentication (if enabled) If you have two-factor authentication set up, enter the code sent to your device. Step 4: Click on the Login Button Once youve filled in all required fields, click the “Login” button to access your account. Step 5: Access Your Dashboard Upon successful login, youll be directed to your trading dashboard where you can manage your trades and account settings. Mobile App Login Process If you prefer using a mobile device, download the letstrade app from your app store. The login process is similar to the web version: enter your credentials and authenticate. Other Login Methods letstrade may offer third-party login options (e.g., Google or Facebook). If available, simply select the respective option and follow the prompts. Common Login Issues and Solutions Issue: Forgotten password. Solution: Click the “Forgot Password？” link on the login page to initiate a password reset process. Issue: Account lockout. Solution: If you enter incorrect credentials multiple times, your account may lock temporarily. Wait a few minutes and try again, or contact customer support for assistance. Issue: Technical issues during login. Solution: Ensure your internet connection is stable. If problems persist, try clearing your browser cache or using a different browser. Overview of Features After Login Once logged in, you can access various features such as trading tools, account management, educational resources, and customer support. Additional Sections Account Security Recommendations Always enable two-factor authentication for added security. Regularly update your password and avoid using easily guessable information. Best Practices for Account Management Monitor your account activity regularly for any unauthorized transactions. Keep your contact information updated to ensure you receive important notifications. How to Get Technical Support If you encounter issues, reach out to letstrades customer support via email or their support chat feature available on the website. This comprehensive guide provides essential information on the letstrade registration, account opening, and login processes. By following these steps, users can navigate the platform efficiently and maximize their trading experience.

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Letstrade Forex Broker - Complete Information Guide

1. Broker Overview

Letstrade, established in 2014, is a forex and CFD brokerage that operates under the domain letstrade.com. The company is headquartered in London, United Kingdom, with its main office located at 7 Bell Yard, London, WC2A 2JR. Letstrade is a privately held company and is part of the JFD Group, which includes several other trading entities.

The primary market focus of Letstrade includes retail forex trading and offering services to individual traders, providing access to various financial instruments. Over the years, the broker has aimed to build a solid reputation in the trading community, although it has faced challenges regarding regulatory compliance and transparency.

Letstrade operates under a straight-through processing (STP) model, which allows for direct execution of trades without intermediary involvement. This model is designed to enhance trading efficiency and reduce latency, providing clients with a seamless trading experience. The broker offers a diverse range of trading products, including forex, CFDs, and commodities, catering to both beginner and experienced traders.

2. Regulatory and Compliance Information

Letstrade is affiliated with the JFD Group, which is regulated by the Cyprus Securities and Exchange Commission (CySEC). The regulatory license number for JFD Group Ltd is 150/11. However, the regulatory oversight for Letstrade itself is somewhat ambiguous, as it appears that the company is not directly regulated by any government authority at this time.

The CySEC regulation provides certain protections for clients, including the segregation of client funds and participation in the Investor Compensation Fund, which can offer compensation up to €20,000 in case of default. Letstrade claims to implement Know Your Customer (KYC) and Anti-Money Laundering (AML) measures to ensure compliance with international financial regulations.

Despite its affiliation with a regulated group, potential clients should be aware that some of Letstrade's services may be provided through offshore entities, which could pose additional risks. As such, clients are encouraged to conduct thorough due diligence before engaging with the broker.

3. Trading Products and Services

Letstrade offers a wide array of trading products, focusing primarily on forex trading. The broker provides access to over 50 currency pairs, including major, minor, and exotic pairs. In addition to forex, Letstrade also offers trading in various CFDs, which include:

Indices: Major global indices such as the Dow Jones, S&P 500, and FTSE 100.
Commodities: Popular commodities like gold, silver, and crude oil.
Stocks: A selection of stocks from prominent companies across various sectors.
Cryptocurrencies: Trading options for major cryptocurrencies, including Bitcoin.

Letstrade continually updates its product offerings, striving to meet the evolving needs of its clients. However, specific details regarding the frequency of product updates and the introduction of new trading instruments were not disclosed in the available information.

The broker primarily targets retail clients, offering competitive trading conditions and access to advanced trading tools. Institutional services, such as white-label solutions and asset management, are not explicitly mentioned, indicating a focus on individual traders rather than institutional clients.

4. Trading Platforms and Technology

Letstrade exclusively offers the MetaTrader 4 (MT4) trading platform, which is renowned for its user-friendly interface and robust trading capabilities. The MT4 platform provides a wide range of features, including:

Advanced charting tools and technical analysis indicators.
Support for automated trading through expert advisors (EAs).
Customizable trading environment to suit individual trading preferences.

While there is no mention of a proprietary trading platform, the availability of MT4 ensures that clients have access to a reliable and widely used trading environment. Letstrade does not appear to offer a web-based platform or mobile application, which may limit accessibility for some traders.

The broker operates its servers in the United States, aiming to provide low-latency trading experiences. However, details regarding API access and automated trading support were not explicitly provided, which could be a consideration for algorithmic traders.

5. Account Types and Trading Conditions

Letstrade offers a standard account with specific trading conditions that include a minimum deposit requirement of $500. The trading conditions for this account type are as follows:

Leverage: Up to 1:400 for non-EU residents, while EU clients are subject to a maximum leverage of 1:30 due to regulatory restrictions.
Spreads: Variable spreads are available, but specific starting figures were not disclosed in the available information.
Commission: A commission of approximately $6 applies, resulting in a total trading cost of around 1.8 pips for major currency pairs like EUR/USD.

Letstrade does not provide various account types such as VIP or professional accounts, nor does it offer specialized accounts like Islamic accounts. However, demo accounts are available for prospective clients to practice trading without risking real funds.

The minimum trade size starts from 0.01 lots, allowing for flexibility in trading strategies. Information regarding overnight fees and other specific trading costs was not detailed in the available sources.

6. Fund Management

Letstrade supports various deposit methods, including bank transfers, credit cards, and e-wallets. The minimum deposit requirement is $500, which is consistent across the available account types.

Deposit processing times may vary, but specific details regarding the duration were not disclosed. Additionally, information on deposit fees was not provided, so clients should check with their chosen payment method for any applicable charges.

Withdrawal options mirror the deposit methods, although specific withdrawal limits and processing times were not outlined. Generally, withdrawal processing may take between 1 to 7 working days, depending on the chosen method.

The broker does not explicitly mention any withdrawal fees, but clients are advised to confirm this with their financial institutions before initiating transactions.

7. Customer Support and Educational Resources

Letstrade provides customer support through multiple channels, including phone, email, and an online chat feature. The support team is available 24/5, covering the trading week from Sunday at 22:00 to Friday at 21:00 (UK time).

The broker offers support primarily in English, which may limit accessibility for non-English speaking clients. Educational resources, however, are somewhat limited, with no specific mention of webinars, tutorials, or e-books available for trader education.

Market analysis services, such as daily insights, news updates, and research reports, were not explicitly mentioned, indicating a potential area for improvement in supporting clients with trading decisions. Trading tools like calculators and economic calendars were also not detailed in the provided information.

8. Regional Coverage and Restrictions

Letstrade primarily serves clients in the European Economic Area (EEA), along with other regions such as Belarus, China, Switzerland, Turkey, the UAE, and Ukraine. However, the broker does not accept clients from countries such as the United States and Russia due to regulatory restrictions.

The broker's regional offices are primarily based in the UK, with no specific information provided regarding additional offices in other countries. Clients interested in opening an account should verify their eligibility based on their country of residence and the broker's service limitations.

In conclusion, Letstrade offers a range of trading services tailored for retail clients, backed by its affiliation with the JFD Group. However, potential clients should carefully consider the regulatory environment, trading conditions, and available support before engaging with the broker. Overall, Letstrade broker presents a viable option for traders seeking access to forex and CFD markets, despite some limitations in regulatory clarity and educational resources.

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Based on my personal experience, I would defintely not recommend using LetsTrade as your ideal trading broker. The simulation account experience was poor, and when I had questions for customer service, I received no response. Therefore, I have not yet used this trading platform. As you can see, I would not use it anymore.

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LetsTrade Forex Broker has an overall rating of 1.57, Regulatory Index 0.00, License Index 0.00, Business Index 7.49, Software Index 4.00 Risk Control Index 0.00.

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LetsTrade Forex Broker

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Basic Information

Letstrade Forex Broker - Complete Information Guide

1. Broker Overview

2. Regulatory and Compliance Information

3. Trading Products and Services

4. Trading Platforms and Technology

5. Account Types and Trading Conditions

6. Fund Management

7. Customer Support and Educational Resources

8. Regional Coverage and Restrictions

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Latest Reviews