Score
70Trades
Seychelles|5-10 years| https://www.70trades.com/home
Website
Rating Index
Influence
Influence
C
Influence index NO.1
United Arab Emirates 3.05Surpassed 15.40% brokers
Contact
Licenses
Single Core
1G
40G
Contact number
+65 8449864869
Other ways of contact
Broker Information
More
Securcap Securities Limited
70Trades
Seychelles
447418375067
Pyramid scheme complaint
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- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The SeychellesFSA regulation (license number: SD012) claimed by this broker is suspected to be clone. Please be aware of the risk!
- The Seychelles FSA regulation with license number: SD012 is an offshore regulation. Please be aware of the risk!
- The current information shows that this broker does not have a trading software. Please be aware!
WikiFX Verification
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:200 |
| Minimum Deposit | -- |
| Minimum Spread | -- |
| Products | Commodities / FX / Future / Stocks START NOW |
| Currency | -- |
|---|---|
| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:200 |
| Minimum Deposit | -- |
| Minimum Spread | -- |
| Products | Commodities / FX / Future / Stocks |
| Currency | -- |
|---|---|
| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:200 |
| Minimum Deposit | -- |
| Minimum Spread | -- |
| Products | Commodities / FX / Future / Stocks |
| Currency | -- |
|---|---|
| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
- Fundamental Item(A)
- Total Supplementary Items(B)
- Debt Amount(C)
- Non-Fixed Capital(A)+(B)-(C)=(D)
- Relative amount of risk(E)
- Market Risk
- Transaction Risk
- Underlying Risk
Capital
$(USD)
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70Trades · Company Summary
General Information & Regulation
70Trades, a trading name of Wanakena Ltd, is allegedly a broker registered in 73 Arch. Makarios III Avenue, Office 301, 1070 Nicosia, Cyprus with registration number 379327, claiming to provide its clients with the web-based and mobile trading platforms, leverage up to 1:200, a wide range of tradable assets, as well as a choice of three different trading plans and 24/7 customer support service.
Market Instruments
70Trades advertises that it offers a wide variety of trading instruments in financial markets, including commodities, forex, futures, stocks, indices and Bitcoin.
Trading Plans
There are three trading plans offered by 70Trades, namely Entry Level, Advanced and Pro. Starting an Entry Level plan. However, there is no information about the minimum initial deposit requirement specified.
Leverage
The maximum leverage ratio provided by 70Trades is much higher than most brokers, up to 1:200. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.
Trading Platform Available
When it comes to trading platforms available, 70Trades gives traders two choices: the Web profit app and the mobile profit app (suitable for Apple and Android). Anyway, we suggest you use MT4 or MT5 as the trading platform. MetaTrader is the most popular forex trading platform, which the traders praise for its stability and trustworthiness. It features sophisticated trading tools such as Expert Advisors, Algo trading, Complex indicators and Strategy tester. Metatrader created a marketplace with currently 10,000+ trading apps the traders can utilize to achieve better results. Both the MT4 and MT5 have mobile APPs, trading can be done from anywhere and at any time through the right mobile terminals including iOS and Android devices.
Tools
Also, 70Trades provides its clients with some trading tools consisting of Portfolio Builder, Live Data Center, Economic Calendar and RSS News, whose interfaces seem to be quite simple and easy to use, just as the following screenshots show.
Deposit & Withdrawal
From the logos shown at the foot of the home page on 70Trades official website, we found that this broker seems to accept numerous means of deposit and withdrawal choices, which include but are not limited to Visa, MasterCard, Maestro, Bank Transfer, Skrill, Neteller, ecoPayz, Paysafecard, Fast Bank Transfer, etc., yet we cannot be sure if these payment options are all available.
Customer Support
70Trades customer support can be reached by telephone: +6531592317, WhatsApp: +2482577534, email: customer.service@70trades.com. Besides, you can also follow this broker on some social media platforms like Twitter, YouTube, LinkedIn and Facebook. Registered address: 73 Arch. Makarios III Avenue, Office 301, 1070 Nicosia, Cyprus.
News
NewsClients Reviews: What Are Investors Saying About 70Trades?
Scams have always been a dark side of the forex industry. Back in the old days, it was hard for new traders to tell a scam broker from a real one due to the lack of resources.
WikiFXNewsWikiFX Broker's Review: Beware of Unregulated Forex Broker 70Trades
Scams have long been a problem in the Forex market. Due to a lack of resources, it was difficult for inexperienced traders to distinguish between a legitimate and a fraudulent broker in the past. However, times have changed. It is now much easier to avoid fraudulent Forex brokers. It merely takes a few minutes to read up on basic information on independent reviewing websites like WikiFX and determine if the broker is worthwhile. This essay will draw your notice to a dubious broker, 70Trades.
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