Netotrade Forex Broker

Note: Netotrade's official website: https://www.netotrade.ae/ is currently inaccessible normally.NetotradeFounded2010Registered Country/RegionCyprusRegulationNo regulationMarket InstrumentsForex, Cryptocurrencies, Stocks, Commodities, IndicesAccount TypeMini, Golden, Platinum, and ECNDemo Account✔Leverage1:30Spread0.3-3.3pipsDeposit & WithdrawalBank Transfer, Credit/Debit Cards, Skrill, NetellerTrading PlatformMetaTrader 4, MetaTrader 5, NetoTrade WebTraderMinimum Deposit$500Customer support24/5 Live Chat, Email, PhoneEducational ResourceTrading Academy, Ebooks, Webinars, Expert AnalysisNetotrade Information Netotrade, founded in 2010, is a brokerage registered in Cyprus. The trading instruments it provides cover Forex, Cryptocurrencies, Stocks, Commodities, Indices. It provides 4 accounts and 3 trading platforms. But it is currently unregulated and lacks security.Pros and ConsPros Cons Diverse trading platformsNo regulationLots of tradable assetsHigh withdrawal fees and slow processing timesMultiple account types offeredCompetitive spreads from 0.3 pipsDemo Account AvailableIs Netotrade Legit? It is clear that Netotrade, which was registered in 2010 and is currently unregulated, is insecure.What Can I Trade on Netotrade? Netotrade offers traders the opportunity to trade Forex, Cryptocurrencies, Stocks, Commodities and Indices. But it can't offer products such as CFDs and ETFs.Tradable InstrumentsSupported Forex✔Cryptocurrencies✔Indices✔Commodities✔Stocks✔ETFs❌CFDs❌Bonds❌Futures❌Account Types Netotrade offers a total of 4 different types of accounts to traders -MiniAccount, Golden Account, Platinum Account, ECN Account. It also provides demo account.Account TypesMinimum DepositLeverageSpreadCommissionAdditional FeaturesMini$5001:400From 3.3 pips$025% education bonusGolden$50001:400From 2.2 pips$020% welcome bonus, personal account managerPlatinum＄50001:400From 1.8 pips$0Personal account managerECN$50001:400From 0.3 pips0.3 pointsPersonal account managerNetotrade Fees 4 accounts are different in spread and commission. ECN account's spread is the lowest, starting with 0.3pips, but it charges from 0.3 points for every transaction. The other 3 accounts all charge no commission. Mini account's spread is the highest, starting with 3.3pips.Account TypesSpreadCommissionMini3.3pips$0Golden2.2pips$0Platinum1.8pips$0ECN0.3pipsFrom 0.3 pointsNetotrade Platform Netotrade provides 3 trading platform-MetaTrader 4, MetaTrader 5, and NetoTrade WebTrader, which supports traders on PC, Mac, iPhone and Android.Trading PlatformSupported Available Devices Suitable for MT5 Margin WebTrader✔Web, MobileProficientMT4✔Desktop, web, and mobileBeginnerNetoTrade WebTrader✔WebBeginnerDeposit and Withdrawal The broker supports three payment methods: Bank wire transfer, Debit/credit cards, E-wallets. In addition, its withdrawals fees are high and processing times are slow.DepositsWithdrawalsMethodBank wire transfer, Debit/credit cards, E-walletsBank wire transfer, Debit/credit cards, E-walletsFeesNo fees$25 wire transfer fee, 3% card fee, 3% e-wallet feeProcessing TimeInstant with cards, up to 1 business day for wire transfersUp to 5 business days for wire transfers, up to 3 days for cards/e-wallets