Broker 70Trades: detailed review

Regulation and safety

70Trades is regulated by the Vanuatu Financial Services Commission (VFSC), which provides a certain level of security and trust. However, the lack of regulation from major international bodies such as CySEC or FCA may raise some questions among potential clients. The company uses modern technologies to protect customer data and funds, including encryption and segregation of funds.

Trading instruments

70Trades offers a wide range of trading instruments, including forex, stocks, indices, commodities and cryptocurrencies. This diverse selection allows traders to diversify their investment portfolios and use different strategies to achieve their financial goals. Access to a variety of markets makes 70Trades attractive to traders of varying interests and experience levels.

Account types and fees

70Trades provides several account types to suit the needs of different traders. Main account types include Entry Level, Advanced and Pro. These accounts vary in minimum deposits, spreads and other trading conditions. The broker’s commission structure is transparent, making it easy for traders to understand their costs. However, spreads may be higher compared to some competitors, which is something to consider when choosing a broker.

Entry Level

Min. deposit: $200

Max leverage: 1:200

Features: e-book, educational materials, course for beginners, personal account manager

Advanced

Min. deposit: N/A

Max leverage: 1:200

Features: e-book, educational materials, course for beginners, personal account manager, free trading signals

Pro

Min. deposit: N/A

Max leverage: 1:200

Features: e-book, educational materials, course for beginners, personal account manager, free trading signals, 4 months tradency

Platforms

70Trades offers its proprietary PROfit trading platform, available on the web and mobile apps for iOS and Android. The platform is intuitive and easy to use, offering a wide range of tools for market analysis and trading. However, the lack of support for the popular MetaTrader 4 and MetaTrader 5 platforms may be a disadvantage for traders accustomed to these standards. The PROfit platform may not meet the needs of those looking for more advanced trading automation features and capabilities.

Education

70Trades provides educational resources, including articles, video tutorials and webinars, that can be useful for new traders. However, more experienced traders may find these materials not in-depth enough to meet their learning needs. Regular updates and market analysis help traders stay up to date with the latest developments and trends in the markets.

Advantages and disadvantages

Pros:

• Regulated by VFSC, which provides a certain level of safety
• Wide range of trading instruments
• Transparent commission structure and multiple account types
• Convenient proprietary trading platform, available in the web version and on mobile devices.
• Educational resources for beginners

Cons:

• Lack of regulation from major international bodies
• Spreads may be higher compared to competitors
• Lack of support for popular trading platforms MetaTrader 4 and MetaTrader 5
• Limited educational resources for more experienced traders

Summary

70Trades offers a wide range of services and trading opportunities for traders of different levels. Regulation from the VFSC provides a certain level of security and trust, but a license from CySEC or FCA would provide a higher level of trust among traders. The variety of trading instruments, transparent commission structure and user-friendly trading platform make 70Trades an attractive choice for many traders. However, the spreads and lack of support of popular platforms may be disadvantages for some users.