Reliable Trade Forex Broker

Aspect Information Registered Country/Area United States Founded year 2-5 years ago Company Name Reliable Trade Regulation Not regulated Minimum Deposit $300 Maximum Leverage Up to 1:5 for Bitcoin trading Spreads Ranging from 0.6 to 1.9 pips Trading Platforms Reliable Trade Platform, MT4, MT5 Tradable assets Forex, Binary Options, Cryptocurrencies, Commodities, Indices Account Types Classic, Standard, Premium, VIP Demo Account Available on MT4, MT5 Islamic Account Information not provided Customer Support Phone: +1 (506) 406-8237, Email: support@reliable-trade.com, Address: East 14th Street, New York, NY 10003, United States Payment Methods Information not provided Educational Tools Information not provided Overview of Reliable Trade Reliable Trade is an unregulated brokerage based in the United States, operating for 2-5 years. It offers market instruments such as forex, binary options, cryptocurrencies, commodities, and indices for trading. The platform provides account types like Classic, Standard, Premium, and VIP, each with varying features and minimum deposits. However, users should be cautious of potential risks associated with unregulated brokers. The leverage for Bitcoin trading is up to 1:5, but information about leverage for other assets or accounts is not readily available. Spreads on the platform range from 0.6 to 1.9 pips. The minimum deposit required to open an account is $300, which is relatively higher compared to regulated brokers. Reliable Trade offers a proprietary web-based platform and the option to use MetaTrader4 (MT4) or MetaTrader5 (MT5). Customer support is available via phone and email, but reviews on WikiFX raise serious concerns, describing the platform as a scam. Traders report significant financial losses due to fraudulent practices. As Reliable Trade lacks regulatory oversight, potential clients should exercise caution and explore safer alternatives for their trading needs. Is Reliable Trade Legit？ Reliable Trade operates without valid regulation, which poses potential risks to its clients. It is crucial to exercise caution when dealing with unregulated brokers to protect your investments and financial interests. Conduct thorough research and consider seeking alternatives that offer the necessary regulatory oversight to ensure a safer trading experience. Market Instruments 1. FOREX: Reliable Trade offers a range of forex instruments, allowing traders to engage in currency exchange. Examples include major currency pairs like EUR/USD, GBP/JPY, and USD/JPY, as well as minor pairs like AUD/CAD and NZD/JPY. Additionally, exotic pairs like USD/TRY and EUR/HUF are available for trading. 2. BINARY OPTIONS: The platform offers binary options as a trading option, enabling traders to speculate on the price movement of various assets. Examples of binary options available on Reliable Trade include stock indices such as the S&P 500 and FTSE 100, commodities like gold and oil, and currency pairs like USD/JPY and GBP/USD. 3. CRYPTOCURRENCIES: Traders can access a selection of cryptocurrencies on Reliable Trade's platform, allowing them to participate in the crypto market. Examples of cryptocurrencies offered include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH). 4. COMMODITIES: Reliable Trade provides opportunities to trade various commodities, allowing investors to diversify their portfolios. Examples of commodities available for trading include precious metals like gold and silver, energy resources such as crude oil and natural gas, agricultural products like corn and soybeans, and industrial metals like copper and aluminum. 5. INDICES: The platform offers trading in indices, allowing traders to speculate on the overall performance of specific markets. Examples of indices available for trading on Reliable Trade include the S&P 500, NASDAQ 100, FTSE 100, DAX 30, and Nikkei 225. Traders can engage in index trading to gain exposure to a broader market segment rather than individual stocks. Pros Cons Diverse Market Instruments No information on specific market instruments provided Opportunity for Currency Exchange Limited information on trading volume and market depth Participation in Cryptocurrency Market Lack of Specific Leverage and Spread Information Account Types CLASSIC: The Classic account requires a minimum deposit of $300. It offers spreads starting at 1.9 pips and comes with negative balance protection. However, scalping is not permitted, and daily signals and a financial plan are not included in this account type. STANDARD: With a minimum deposit of $1,000, the Standard account provides spreads from 1.5 pips and negative balance protection. Scalping is allowed, but there are no daily signals or a financial plan included in this account type. PREMIUM: The Premium account demands a minimum deposit of $5,000, offering spreads starting at 1.2 pips. It comes with negative balance protection and allows scalping. Additionally, daily signals are provided, but a financial plan is not part of this account type. VIP: For high-end traders, the VIP account requires a significant minimum deposit of $10,000. It offers extremely spreads starting at 0.6 pips, along with negative balance protection and scalping. Daily signals and a financial plan are included, making it the most comprehensive account type. Pros Cons Multiple accounts available No daily signals or financial plan (Classic and Standard accounts) Scalping allowed (Premium and VIP accounts) Scalping not permitted (Classic account) Spreads from 0.6 pips High minimum deposit requirement for VIP account ($10,000) Leverage Reliable Trade offers a leverage of up to 1:5 for Bitcoin trading, but information about leverage for other assets or account types is not readily available. Spreads Reliable Trade provides spreads ranging from 0.6 to 1.9 pips across its various account types. Deposit & Withdrawal Reliable Trade requires a minimum deposit of $300 to open an account, which is relatively higher compared to many regulated brokers that typically request no more than $50. However, specific information about deposit and withdrawal payment methods is unavailable. It is unclear whether credit cards, PayPal, or e-wallets like Skrill and Neteller can be used to fund accounts. Pros Cons None High minimum deposit of $300 Lack of specific deposit and withdrawal information Unclear payment methods availability Trading Platforms Reliable Trade provides a proprietary web-based software called the Reliable Trade Platform, but without a link to explore it fully. Additionally, the broker offers the option to download the MetaTrader4 (MT4) or MetaTrader5 (MT5) trading platforms. While we could only access a Demo server on MT4, it is widely recognized as the leading platform, favored by over 80% of users worldwide. MT4 boasts an intuitive interface, advanced charting, analysis tools, and copy- and auto-trading features. MT5, its successor, offers the added benefit of executing trades across various financial markets with a single account, including exchange-traded stocks, and comes with an expanded range of trading instruments and indicators compared to its predecessor. Pros Cons Widely used MetaTrader4 and MetaTrader5 platforms Limited information on the proprietary Reliable Trade Platform Copy and auto-trading features No link provided to explore the proprietary platform fully Access only to a Demo server on MT4 Customer Support Reliable Trade provides customer support through various channels. For inquiries or assistance, clients can reach out via phone at +1 (506) 406-8237 or contact them through email at support@reliable-trade.com. The company's physical address is located at East 14th Street, New York, NY 10003, United States. Reviews The reviews on WikiFX for Reliable Trade raise serious concerns about the platform, with users describing it as a scam. They report being contacted by individuals claiming to be account managers using fake profiles and promises of significant profits. However, after depositing money, the users were left with substantial financial losses as the individuals vanished. The reviews strongly advise others to avoid Reliable Trade due to its fraudulent practices. Conclusion Reliable Trade presents both advantages and disadvantages for potential traders. On the positive side, it offers a wide range of market instruments, including forex, binary options, cryptocurrencies, commodities, and indices. Additionally, it provides multiple account types, catering to various trading needs, and offers leverage for Bitcoin trading. The availability of the popular MetaTrader4 and MetaTrader5 platforms is a plus. However, the absence of valid regulation raises significant concerns about the legitimacy and safety of the platform, potentially putting clients' investments at risk. The lack of a functioning main website is also a red flag. Reviews from users on WikiFX further emphasize the platform's fraudulent practices, advising against using Reliable Trade. It is crucial for traders to exercise caution and consider alternatives with proper regulatory oversight for a more secure trading experience. FAQs Q: Is Reliable Trade a legitimate broker？ A: Reliable Trade operates without valid regulation, which poses potential risks to its clients. Exercise caution and consider alternatives with proper regulatory oversight for a safer trading experience. Q: What market instruments are available on Reliable Trade？ A: Reliable Trade offers trading in Forex, Binary Options, Cryptocurrencies, Commodities, and Indices. Q: What are the different account types on Reliable Trade？ A: Reliable Trade offers Classic, Standard, Premium, and VIP accounts with varying features and minimum deposit requirements. Q: What leverage does Reliable Trade offer？ A: Reliable Trade provides leverage up to 1:5 for Bitcoin trading, but information for other assets is not readily available. Q: What are the spreads on Reliable Trade？ A: Spreads on Reliable Trade range from 0.6 to 1.9 pips across different account types. Q: How much is the minimum deposit on Reliable Trade？ A: The minimum deposit on Reliable Trade is $300. Q: What trading platforms does Reliable Trade offer？ A: Reliable Trade provides its proprietary web-based platform and supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. Q: How can I contact Reliable Trade's customer support？ A: You can reach Reliable Trade's customer support via phone at +1 (506) 406-8237 or email at support@reliable-trade.com. Q: Are there any reviews or feedback on Reliable Trade？ A: Reviews on WikiFX raise serious concerns about Reliable Trade, with users describing it as a scam and warning others to avoid it.