Disclaimer: Demo / Real Account Links Are removed From this page
The reason? Netotrade is an unregulated Forex provider. It is reportedly accepting US clients which is the worst fault of all in our book. We do not wish to be associated with this broker, and review for the sole purpose of our visitors’ benefit.
- Company: NetoTrade is the trading name of NTG Ltd.
- Founded: 2010
- Payment Options: Credit & Debit Cards, Wire Transfer and CashU
- Platforms: MetaTrader 4, Web Platform, and a Mobile platform for Android & iOS.
- Accounts Available In: AUD, CAD, EUR, GBP, JPY, NZD, CHF, & USD.
- Minimum Deposit: $500
- Social Trading: Built into NetoTrade’s Web Platform.
- Support Options: Callback, Email, Live Chat, Phone, Skype and Contact Form.
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At the center of the brokerages offering is the MetaTrader 4 platform. Since MetaTrader 4 was launched back in 2005, it has come to be the dominant FX platform in the retail landscape with the vast majority of brokers offering the platform as one option to traders. NetoTrade is no different and has opted to make it the core of their offering. In addition, the brokerage also offers traders the ability to trade via an online web platform. The Web platform is a pretty standard affair but has social trading functionality built into, which may appeal to those with an interest in social and copy trading. The brokerage also offers a basic but perfectly functional mobile platform available for both Android and iOs which allow traders to open and manage positions while they are on the move.
- Leverage: Up to 400:1
- Scalping: No Restrictions.
- Expert Advisors: Allowed
- Trailing Stops: Yes.
- Typical EUR/USD Spread: Fixed 3 pips with a Micro Account.
The trading conditions on offer at NetoTrade are relatively uncompetitive. For those with less than $5,000 in capital spreads start at 3 pips on the EUR/USD, which means that during periods of low volatility traders could almost certainly get better value for money with other FX brokerages. Those with more than $5,000 of capital have the opportunity to open Gold, Platinum and ECN accounts which allow traders to take advantage of better trading conditions. However, many other brokerages offer traders the opportunity to open ECN/STP accounts without requiring that traders deposit such substantial sums. This raises serious questions to why those who have undertaken their homework would opt to trade with the brokerage.
- Number of Currency Pairings: 44 FX Currency Pairings.
- Other Instruments: Spot Metals, and a limited range of Commodity CFDs.
NetoTrade offers total of 44 currency pairings and traders are likely to find the majority of pairings they wish to trade. Despite, this some traders will likely be disappointed that the brokerage doesn’t offer some of the more exotic currency pairings that are becoming increasingly popular with traders. For instance brokers such as IronFX offer in excess of 70 pairings for traders, meaning those particularly interested in exotic pairings may want to look elsewhere. Being a FX broker, the focus is clearly on currency pairings, despite this the brokerage offers a number of other instruments and allows traders to speculate on Spot Metals and a limited range of Commodity CFD’s. Overall, the brokerage has a decent range of instruments for traders to choose from.
- Contact Methods: Callback, Email, Live Chat, Phone, Skype and Contact Form.
- Phone Numbers: NetoTrade.eu – Cyproit Number Only. NetoTrade.com – UK & Swiss Phone Number.
NetoTrade has been the subject of a number of customer complaints, and has received negative coverage on a number of FX forums. The validity of these complaints is impossible to verify and it is important to bear this in mind when discussing the brokerage. NetoTrade provides customers with a number of different ways for customers and those interested in the brokerage to get into contact with the firm.
NetoTrade.com, operated NTG Ltd is an unregulated entity.
- MiFID Regulated: NetoTrade.eu, is regulated within the European Union by CySEC of Cyprus.
- Can Accept US Traders: No, the brokerage lacks the necessary regulatory licences to accept US based traders.
- Regulatory Record: NetoTrade was subject to a warning from Britain’s FCA for operating within the jurisdiction without the necessary regulatory approval. This was prior to the launch of the EU regulated NetoTrade.eu
NetoTrade has an interesting regulatory history with the brokerage operating without any regulatory approval until the relatively recent launch of the companies EU regulated arm. Prior to this the brokerage had been on the receiving end of a warning from the United Kingdom’s Financial Conduct Authority, who stated that the firm had been operating in the UK without the necessary regulatory approval. You can read more about this particular warning here.
NetoTrade has a somewhat chequered history with the brokerage having been on the subject of a number of customer complaints, as well as being featured on the FCA’s Warning List. The validity of these complaints is impossible to verify, but are likely to make some potential customers somewhat wary. Ignoring all of this, there are numerous brokerages who offer a better overall package than NetoTrade when it comes to trading conditions, particularly for those with less than $5,000 of initial capital.