Known for its intuitive and easy-to-use trading platform, 70Trades is one of the most popular online trading brokers. It has a reputation for providing a wide range of CFD trading instruments and reliable customer support.
70trades platform is ideal for both beginners and experts due to various trading tools. It is also accessible on both web and mobile devices. The mobile app allows for convenient trading anywhere at any time.
The broker offers a wide range of features, among which an extensive training plan. You also get to follow the live market, through the trading signals and updates. All these features work best for the possibility of gaining when you trade.
70Trades at a glance
Minimum deposit: $200
Stock trading costs: $0
Spread: Fixed, from 3.0 pips
Day trading account: Available
Maximum leverage: 1:200
Broker type: Market maker
Assets: CFDs, commodities, indices, and cryptocurrencies
70Trades Pros and Cons
- The intuitive trading platform makes for an interactive trading experience.
- Available CFD trading increases the range of trading options.
- Protected trades for the first five trades or more depending on your deposit. This protects you as you get to learn the platform.
- An exclusive list of assets that might not be available on the other trading platforms.
- Reliable customer support available in English and Spanish.
- High fixed spread.
- Off-shore regulations can limit your trading options.
70Trades is best for:
70Trades is best for both beginners and expert traders due to the wide range of trading tools. It is also ideal for those looking to acquire more trading knowledge. It provides for a trading advisor and other video trading courses when you register on the platform.
Where 70Trades Shines?
- Intuitive design – The platform is designed such that it is easy to trade even for the least informed. You can easily access all the resources, whether live updates and signals or trading.
- Research tools – one of the things that stand out in the 70Trades review is the wide range of research tools. The platform provides educational materials, customer support, a live data center, RSS News Feed, and an economic calendar. These tools make it convenient to use the platform.
Where 70Trades falls short?
- Lacks a demo account – 70Trades does not provide a demo account when you register on the platform. However, the lack of a demo account is covered by the protected trade. Just like you use the demo account to learn, the same can apply when using the protected trades.
Is 70Trades fake or a scam?
No, 70Trades is a legit trading platform and a licensed brokerage. It is owned by a reputable group, Securcap Securities Limited. It is authorized by the Seychelles Financial Services Authority and honors anti-money laundering and customer security regulations.
How do you withdraw from 70Trades?
70Trades provides various ways to withdraw money. It supports bank transfers, credit cards, and Webmoney. It takes anywhere from 2 to 6 days to reflect depending on the payment option.
Am I subject to tax when trading on 70Trades?
70Trades does not pay or deduct taxes on your behalf. It’s your responsibility to manage your taxes.
Raj Kumar is a qualified business/finance writer expert in investment, debt, credit cards, Passive income, financial updates. He advises in his blog finance clap.