NetoTrade Review

MIN. DEPOSIT $500
Up to 400:1
Up to 25% BONUS
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NetoTrade
Up to 25%
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Overview

Company Information Netotrade is one of the companies that made Forex trading a popular activity and is one of the most recognized online traders nowadays. Their headquarters are based in… more

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Details

BrokerNetoTrade
Website URLhttps://www.netotrade.com/
Founded2010
HeadquartersSt. Vincent and the Grenadines
Support Number+44-203-514-3882
Support Emailsupport@netotrade.com
Support TypesPhone, E-mail, Live Chat, Call Back
LanguagesEnglish, French, Arabic, Portuguese, Russian, Spanish, Italian
Minimum 1st Deposit$500
Minimum Trade Amount0.01 lots
BonusUp to 25%
PayoutUp to 400:1
Free Demo AccountYes
Regulated Yes
RegulationFinancial Services Authority of St Vincent & the Grenadines (SVGFSA)
Account TypesMini, Gold, ECN, Platinum
Types of AssetsStocks, Forex
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

Netotrade is one of the companies that made Forex trading a popular activity and is one of the most recognized online traders nowadays. Their headquarters are based in London and company owning the platform is Neto Trade UK LTD. One thing that creates discussion about this broker is the lack of regulation by an official authority. There were some speculations about the company getting the license by CySEC or the FCA in the UK, but there is no official confirmation on this. However, the company has the right to operate as an online trading broker and does a pretty good job for now. They offer excellent trading opportunities and features that many competitors are missing. Also, they are placed by reviewers among the top 100th brokers in the world which speaks for itself. Launched in 2010 they quickly became a leading broker that professionals and beginners describe as “best in the industry”. Offering some unusual markets along with the ones that traders are used to, Netotrade is a name that every trader should check.

 

Trading Information

Despite being such a new platform with less than six years of business, Neotrade has made a pretty decent platform that clients have appreciated in their online reviews. The maximum Forex Leverage they offer is 1:400 which is pretty good for such a platform. They have four types of accounts: Mini, Gold, ECN and Platinum. The basic one gives you the basic options but is pretty much the same as the others regarding leverage. Spreads are fixed and depend on the chosen account type. Their ECN option gives you the chance to take advantage of spreads as low as 0.3 pips. As far as trading options are concerned scalping and hedging is allowed.  You have OCO orders, limit order, trailing stop order and many more features. There is no streaming news feature which is a bit of a letdown, but otherwise, the broker offers all the needed tools for a great trading experience. The Straight Through Processing system will give you the advantage of making faster deals and not wasting any time with dealing desks.

 

Trading Platforms

The people from Netotrade try to keep up with the current industry standards and have made available several platforms for their clients. The usual and already proven Metatrader4 platform is supported and is usually the most used tool by customers. However, the download and installation requirement is not something that everyone likes, and the support of a WebTrader platform is key to their success. The NetoTrade Web platform is very easy to use and gives you the opportunity to make fast executions real time quotes. It offers all the functionality that the Metatrader4 platform offers and requires just an internet connection and a login. For people who are away from their desktop computers, there is the NetoTrade Mobile platform. It’s available for download from the Apple and Google store applications and is very easy to use. It has the needed charts and features like “Set stop-loss and take-profit” which will make trading from your mobile device easy.

 

Security and Customer Services

Many reviewers have doubted the company’s legitimacy because of the lack of approved licenses. But for now, Netotrade have proven that they care about a safe and secure experience for their clients. The option of the segregated accounts is proof enough that Netotrade’s aim is not to make any scams. Also, their site is protected by a secure SSL encryption that makes stealing personal data next to impossible. Their customer support unit is excellent. They have 24/7 customer support for all their clients which is above the industry standard (many offers 24/5). Language support is available in English, Arabic and French. There are many ways made available to contact the company’s representatives. You can request a callback, write them an email, use their live chat option or just call them on the phone numbers they provided. There is also a forum where you can find answers to your questions and contact, other traders. Finally, you can follow their social media profiles and ask them questions. Their support for beginner traders is unmatched, and the educational material they provide on the site is very helpful.

 

Deposits and Withdraws

To deposit money into your account, you can use a bunch of banking methods made available. They offer the usual credit and debit card options with bank wire also available. They also offer the CashU method. Processing times for your deposit are immediate, and only the Bank Transfer options have 1-3 business days of processing time. The lack of the digital wallets option is somewhat surprising, but they will surely incorporate it in the future. Withdrawing money from your account can be made by using the same methods as the deposit. Processing times here are a bit slow but still manage to be above the industry average. You will have to go through the usual account verification process but after that, you’ll have no issues with deposit and withdrawals whatsoever. The currencies that are accepted are only EUR and USD.

 

Deposit Bonus and Loyalty Programs

Netotrade has made a lot of tempting welcome bonuses offers depending on which type of account you choose to make. For their mini account (deposit $500-$5000) you’ll get a 25% bonus. For their Gold account (deposit $5000-$10000) you get a 20% bonus. Their ECN option has a 15% bonus and finally the Platinum account ($10000-$25000) gives you a 15% welcome bonus.

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