The brokerage was established in 2017 and is owned by AN Allnew Investments Ltd., which is licensed by many European agencies, including CySEC.
The broker offers more than 200 financial products, including equities, indices, cryptocurrencies, commodities, and currencies. A variety of free trading tools and educational resources are available for both novice and seasoned traders.
The broker provides MT5, the popular MT4 replacement, in both web and desktop download versions. Although it benefits users of all skill levels, advanced traders particularly enjoy the software.
To download MT5 for Windows or Mac, visit the broker’s website. Additionally, WebTrader is accessible straight through your web browser.
Over 200 instruments are provided across multiple asset classes:
Accounts with fixed or variable spreads are available to traders. On a Silver account, variable spreads for popular currency pairs like EUR/USD begin at 1.6 pips. Spreads on accounts for gold and platinum are growing closer and have fallen to 0.6 pip. With a silver account, fixed spreads for EUR/USD are approximately 3 pips.
All assets are commission-free except for equities, which have costs ranging from 0.15 percent to 0.45 percent depending on the account.
Leverage varies from 1:5 to 1:200 depending on the traded asset.
The broker’s user-friendly MT5 mobile app allows cross-platform trading. Open trades may be managed, interactive charting tools can be accessed, and full trading histories can be viewed while on the move. You can also use the economic calendar to stay up to date on the latest market developments and gain access to expert advisor strategy optimizations.
The MT5 mobile software is simple to download on iPhone (iOS) and Android (APK) smartphones, and users praise its user-friendly layout online. But only owners of platinum accounts can use mobile trading.
Deposits can be made in several ways. Processing time varies:
It usually takes 3 to 5 business days to withdraw money. For wire transfers, the minimum withdrawal amount is $150 in the chosen currency; for other withdrawal methods, there is no minimum. The company does not charge a fee for withdrawals, but it does charge the client for any additional expenses.
Beginner traders can use the MT5 trial account to get acquainted with the trading platform and learn about various trading strategies and tools. The account has $10,000 in virtual money and is open for one month.
Under license # 14570, the broker is governed by the Vanuatu Financial Services Commission (VFSC). Under license No. 344/17, the Cyprus Securities and Exchange Commission (CySEC) oversees the holding company AN Allnew Investments Limited. Additionally, the company holds licenses from the German Federal Financial Conduct Authority and the UK Financial Conduct Authority (FCA) (BaFin).
The broker sends monthly financial statements to an outside accounting company by legal obligations. Additionally, the broker makes sure that all client funds are maintained separately in respectable institutions and offers negative balance protection.
There are four different account types: VIP, Silver, Gold, and Platinum. As the number of accounts rises, you may anticipate seeing narrower spreads and an increase in the minimum deposit requirements.
In comparison to other brokers, the minimum deposit for a silver account is $500, which is fairly costly. The account’s lowest spreads begin at 1.6 pips, which is not particularly competitive when compared to other choices.
The accounts offer the same fundamental characteristics, with swap-free trading being the standout. Unfortunately, only Platinum accounts are eligible to use mobile trading.
Support is offered from 08:00 to 24:00 GMT+3 on Monday through Friday. During testing, the live chat service was incredibly quick and useful. The website’s bottom right corner contains the chat logo. Additionally, you can reach customer service by way of:
The servers are housed in SAS-70 certified data centers, and the broker uses PCI Level 1 certified service providers to carry out transactions. Fast SSL encryption and a firewall are also used to protect trading activity on the platform.
Traders can’t use access from the USA, Korea, Yemen, or Iran.
With its variety of assets and free trading recommendations, the company has significant potential. Additionally, the broker is regulated, which is a plus. The spreads and large minimum deposits, however, are too expensive to draw in new traders.