SeventyBrokers Forex Broker

SeventyBrokers Forex Broker - Complete Information Guide

1. Broker Overview

　　SeventyBrokers, officially known as Seventy Investech (Vanuatu) Co. Limited, was established in 2021. The company claims to be headquartered in Singapore, with additional offices in various regions, including Vanuatu and Saint Vincent and the Grenadines. SeventyBrokers is a privately held entity, operating under the umbrella of the Seventy Investech Group, which provides liquidity services.

　　The broker primarily serves retail and institutional clients across diverse markets, including regions such as Australia, China, Hong Kong, Singapore, Taiwan, the United States, and South Africa. Since its inception, SeventyBrokers has aimed to provide access to a wide array of financial products, leveraging advanced trading technologies to cater to the needs of its clientele.

　　SeventyBrokers operates on a retail forex model, offering a variety of trading instruments, including forex pairs, commodities, stocks, and cryptocurrencies. The company emphasizes providing a user-friendly trading experience, utilizing the widely recognized MetaTrader 5 platform to facilitate trading activities for its users.

2. Regulation and Compliance Information

　　SeventyBrokers claims to be regulated by several authorities, including the Vanuatu Financial Services Commission (VFSC) and the National Futures Association (NFA) in the United States. However, the broker does not provide verifiable regulatory numbers, raising concerns about its legitimacy. The license number purportedly associated with the VFSC is 14885, yet various sources indicate that this license may not be valid or applicable to the broker.

　　The broker's regulatory status is further complicated by its claims of operating under the Australian Securities and Investments Commission (ASIC). However, no concrete evidence links SeventyBrokers to any licensed entity recognized by ASIC, suggesting that the broker may be misrepresenting its regulatory compliance.

　　SeventyBrokers does not have a clear policy regarding the segregation of client funds, which is an essential aspect of investor protection. Additionally, there is no evidence of participation in an investor compensation fund, leaving clients vulnerable in the event of financial insolvency.

　　The broker asserts compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, yet the lack of transparency in its operational practices raises questions about the effectiveness of these measures.

3. Trading Products and Services

　　SeventyBrokers offers a diverse range of trading products, including:

• 　　Forex Currency Pairs: The broker provides access to a variety of forex pairs, including major, minor, and exotic currencies. However, specific details regarding the total number of pairs available are not disclosed.

• 　　CFD Products: Clients can trade Contracts for Difference (CFDs) across various asset classes, including:

• 　　Indices: Major global indices are available for trading.

• 　　Commodities: Trading options include precious metals like gold and silver, as well as energy commodities such as oil.

• 　　Stocks: The broker offers trading in stocks from prominent companies.

• 　　Cryptocurrencies: A selection of cryptocurrencies, including Bitcoin and Ethereum, is available for trading.

　　SeventyBrokers claims to update its product offerings periodically, yet specific timelines or details about newly added instruments are not provided. The broker focuses on retail trading services, catering primarily to individual traders, with limited information available regarding institutional services or white-label solutions.

4. Trading Platforms and Technology

　　SeventyBrokers utilizes the MetaTrader 5 (MT5) platform, which is renowned for its advanced trading features and user-friendly interface. The platform supports a wide range of trading instruments, providing clients with access to real-time data, comprehensive charting tools, and various technical indicators.

• 　　Web-Based Trading: SeventyBrokers offers a web-based version of MT5, allowing traders to access their accounts from any device with an internet connection.

• 　　Mobile Applications: The broker provides mobile applications for both iOS and Android, enabling traders to manage their accounts and execute trades on the go.

• 　　Execution Model: The broker operates with an ECN execution model, aiming to provide competitive pricing and fast order execution.

• 　　Server Infrastructure: Specific details regarding the server locations and technical infrastructure utilized by SeventyBrokers are not disclosed, which may impact the reliability of the trading experience.

• 　　API Access: The availability of API integration for automated trading is not explicitly mentioned, limiting options for algorithmic traders.

  　　

5. Account Types and Trading Conditions

　　SeventyBrokers offers several account types designed to cater to a wide range of trading preferences:

• 　　Standard Account: Requires a minimum deposit of $100, with unspecified spreads and commissions.

• 　　Advanced Accounts: Include options such as premium and institutional accounts, typically requiring higher minimum deposits and offering enhanced trading conditions.

• 　　Special Accounts: Information on specific account types like Islamic accounts or corporate accounts is not provided.

• 　　Demo Account Policy: The broker offers a demo account option, allowing prospective clients to practice trading without financial risk.

• 　　Leverage Ratios: SeventyBrokers offers leverage ratios up to 1:500, which is significantly higher than the limits imposed by many regulatory authorities, raising concerns about the associated risks.

• 　　Minimum Trade Size: Details regarding the minimum trade size are not disclosed, which may affect trading strategies for various clients.

• 　　Overnight Fees: Information on overnight fees or swap rates is not provided, potentially impacting traders' decisions on holding positions overnight.

  　　

6. Fund Management

　　SeventyBrokers supports various deposit methods, including:

• Bank Transfers
• Credit Cards
• E-Wallets

　　The minimum deposit requirement varies by account type, with the standard account starting at $100. Specific deposit processing times are not disclosed, which may lead to uncertainty for clients.

• 　　Deposit Fees: Information regarding deposit fees is not explicitly provided, leaving potential clients unaware of any associated costs.

• 　　Withdrawal Methods and Limitations: The broker does not clearly outline withdrawal methods or any restrictions, which could complicate the process for clients wishing to access their funds.

• 　　Withdrawal Processing Times: Specific details regarding withdrawal processing times are also not provided, which may lead to delays and frustrations.

• 　　Withdrawal Fee Structure: There is no clear information on the fee structure for withdrawals, raising concerns about potential hidden costs.

  　　

7. Customer Support and Educational Resources

　　SeventyBrokers offers customer support through various channels, including:

• Phone Support: Available at +1 (856) 421 - 5844.
• Email Support: Clients can reach out via info@seventybrokers.com.
• Online Chat: An online chat feature may be available for immediate assistance.

　　The broker operates across various time zones, yet specific service hours are not disclosed, which may affect clients in different regions.

• 　　Multilingual Support: The broker claims to provide support in multiple languages, but the exact languages supported are not listed.

• 　　Educational Resources: SeventyBrokers appears to offer limited educational resources, which may include webinars, tutorials, and e-books, but specific details are not provided.

• 　　Market Analysis Services: Information regarding daily market analysis, news updates, or research reports is not clearly outlined.

• 　　Trading Tools: The availability of trading tools such as calculators, economic calendars, or signal services is not mentioned.

  　　

8. Regional Coverage and Restrictions

　　SeventyBrokers primarily targets markets in Australia, China, Hong Kong, Singapore, Taiwan, the United States, and South Africa. The broker's regional offices span several locations, including Singapore, Hong Kong, and Vanuatu.

• 　　Countries Not Accepted: Specific countries or regions where clients are not accepted are not disclosed, which may limit the broker's accessibility.

• 　　Special Restrictions: There are no clear indications of special restrictions that may apply to certain clients, leaving potential traders uncertain about their eligibility.

　　In summary, SeventyBrokers presents itself as a global trading platform, but significant concerns about its regulatory status, fund management practices, and overall transparency warrant caution. Potential clients are advised to conduct thorough research and consider the risks associated with engaging with this broker.