Note: Planet-traders's official website: https://planet-traders.com/ is currently inaccessible normally.
Planet-traders Information
Planet-traders is a broker registered in Vanuatu that provides five kinds of trading tools and also, demo accounts to practice in a risk-free environment. However, its official website is currently inaccessible, and the broker lacks legal regulatory licenses.
Pros and Cons
Is Planet-traders Legit?
Planet-traders is not subject to any legal regulation. Although it claims to hold a brokerage license numbered 14391 issued by the Vanuatu Financial Services Commission (VFSC), the VFSC has warned that Planet-traders is neither incorporated nor licensed by the VFSC and may be illegally providing financial services. Therefore, you are advised to stay away from this broker.
What Can I Trade on Planet-traders?
Planet-traders mainly offers five types of trading instruments, including forex pairs (more than 35 kinds), stocks and commodities (metals), indices, CFD contracts.
Account Type
Due to the unavailable official website of Planet-traders, information about the specific types of accounts it offers remians unknown. However, it is known that beginners can use the demo accounts provided by Planet-traders for practice. At the same time, it also offers Islamic swap-free accounts.
Trading Platform
Planet-traders supports trading through WebTrader, a web-based financial trading platform. The platform is equipped with various technical analysis tools, such as technical indicators and graphical objects, to assist traders in conducting technical analysis and making predictions. However, since Planet-traders does not have a legal license, it is uncertain whether it has obtained permission from WebTrader.
Customer Service
The official website of Planet-traders is inaccessible, and it only allows you to contact them through 24/7 online chat and email: support@planet-traders.com.
The Bottom Line
Planet-traders is a broker that offers a variety of trading instruments, including demo accounts for practice. However, Planet-traders is not subject to any legal regulation, you are advised to stay away from it.
FAQs
Is it safe to trade with Planet-traders?
No, trading with Planet-traders is unsafe as it lacks legal license.
What is the minimum deposit required by Planet-traders?
The minimum deposit is $100.
What is the maximum leverage offered by Planet-traders?
The maximum leverage is 1:1000.
