What is 70Trades?
70Trades is a state-of-the-art, easy-to-use trading platform with an intuitive design, multiple helping tools, and a wide variety of financial instruments. It is suitable not only for beginners but for experienced traders as well, and the mobile app gives you the opportunity to trade anyplace, anytime with a single touch. The free training and dedicated support team available 24/5 are among the many benefits you get just by registering to the platform. Follow the markets, get live signals and updates, and always stay close to profit opportunities with 70Trades.
70Trades Pros & Cons
Pros
Intuitive trading platform
An exclusive list of assets
CFD trading is available
First protected positions
Cons
Off-shore regulation
High Fixed spread
Not a standard trading platform
Is 70Trades safe?
Yes, 70trades is owned by Securcap Securities Limited, Office 4, Suite C2, Orion Mall, Palm Street, Victoria, Mahe, Seychelles, authorized by the Seychelles Financial Services Authority with License No. SD012.
Account Options
Broker Type: Market Maker
Minimum Deposit: 200$
Spread: Fixed, from 3.0 pips
Maximum Forex Leverage: 1:200
Day Trading Account: Yes
Top 70Trades Features
An exclusive list of assets:
Regardless of your trading experience, you can take advantage of an exclusive list of assets, including currency pairs, CFDs, commodities, cryptocurrencies, and indices.
Intuitive design:
70Trades sets its own bar high as its goal is not only to guide you through your first steps as an online investor but to get you all the way to becoming a pro. It brings a unique trading experience through a next-generation, easy-to-use, and intuitive platform with all the financial information you need available at your fingertips at any given point.
Helpful research tools:
70Trades makes trading easy for people with slim to no investment knowledge whatsoever. But their platform is also powerful and exciting enough to satisfy your most sophisticated needs if you are a professional. Besides all helping tools, by registering to 70Trades, you automatically get the privilege of free training. With 70Trades, you can rely on the help of a Portfolio Builder tool, a Live Data Center, an Economic Calendar, RSS Newsfeed, and probably the most elaborate of them all – the Autochartist, which analyzes a substantial amount of data and trading patterns, ultimately saving you lots of time and effort.
Dedicated Support Team:
70Trades provides you help every step of the way. You can make the most of their skillful and friendly Support team, which is available from Monday to Friday, between 8:00 and 19:00 GMT. You also have the privilege of having different types of support agents and trainers at your disposal, as well as a Personal Account Manager.
70Trades Overview
Type of Broker: Market Maker
Regulation/Licensing: Vanuatu Financial Services Commission - VFSC regulator
Assets Offered: CFDs, ETFs, Stocks, Indices, Commodities, Currencies, Cryptocurrencies
Platforms Available: Web, Mobile
Mobile Compatibility: iOS, Android
Payment Types Accepted: Wire Transfer, Credit/Debit Cards, Skrill/Moneybookers, Neteller, Webmoney
70Trades Account Types
Entry level
As 70Trades believes that a trader’s first 70 trades to be the most important ones, they have created a “VIP 70 trades” trading account with all the tools a trader needs to help you get started on your first trades with confidence.
Benefits
Introduction lesson with an expert
1-on-1 trading session
Personal account manager
Trading tutorials
Beginners eBook
Super-low Fixed spreads
Service and support 24/5
Minimum Deposit from $200 to $1,000
Advanced
If you have some experience with Forex trading, but you haven’t traded in a while and need to freshen up your knowledge – 70Trades’ Advanced Level is probably the right plan for you.
Benefits
Advanced trading tools
Access to Daily Updates
Personal account manager
24/5 Support
1:200 Leverage
Advanced trading course
Minimum Deposit from $1,000 to $4,000
Pro
If online trading is a daily experience for you, then the preferable choice for you is the Pro Trader Plan. It is designed to meet every need an experienced trader might have.
Benefits
Fast trade execution
Advanced trading tools
1:200 Leverage
Technical Analysis
Access to Daily Updates
24/5 Support
Currency charts
Minimum Deposit $4,000+
70Trades Trading conditions
Minimum Initial Deposit
The minimal initial deposit you have to make in 70trades is $200, but depending on the account type, it can reach up to $4000. Keep in mind the minimum requirements should only be used for testing a company's service. A long-term trading system has to be backed by adequate capital.
Average spreads & Commissions
There are fixed spreads offered by 70Trades, starting from 3 pips for EUR/USD.
Leverage
The highest possible leverage offered by 70trades is 1:200 which is similar to other brokers and definitely enough for a sensible trading strategy.
But bear in mind that high leverages can be dangerous as well, as they amplify both your winning and losing trades.
Foreign Exchange currency trading (Forex): 1:200
Commodities trading: 1:200
CFD on Indices: 1:100
CFD on Shares: 1:10
5 Protected Positions: 1:20
70Trades Pricing
The rollover fee is charged at 0.02% of the overnight exposure on CFDs (Indices, Currencies, Stocks, and Commodities) and 0.50% on CFDs (Cryptocurrencies) due to high volatility.
Spot orders can be executed at the price the client clicks/quotes during the regular global forex market conditions, in alliance with 70Trades’ policy of no slippage.
When the global forex market conditions are volatile, the clients can receive consistent ask (buy) and bid (sell) prices with fixed spreads. Spot orders can be executed at the price the trader has quoted them.
Service Details
Supported Languages: English, Spanish, and Arabic
Customer Service Hours: Monday – Friday between 8:00 – 19:00 GMT
Personal Account Manager: Yes
70Trades User Experience
The WebProfit platform is web-based and doesn’t require any downloads or installation. You can take advantage of research tools such as live quotes and charts, as well as all sorts of research tools. Aside from managing your own trading account, you can make deposits and withdrawals directly from the platform, and you can always stay aware of all market updates and breaking financial news.
The mobile PROfit platform is the mobile-friendly version, but it offers the exact same features, just optimized to better fit your device. It is available for both iOS and Android devices and has plenty of convenient features like an intuitive interface.
Final Overview on 70Trades
70Trades is a safe and easy-to-use CFD trading platform with elaborate helping tools to guide you on your way to becoming an experienced trader. Their name derives from the widespread belief that 70 is the average number of trades you need to make before you start feeling more confident as a trader. One of their biggest benefits will surely put a smile on your face. Depending on the type of your trading account, you are entitled to 5-up-to-15 first protected positions. This means that until you start feeling more comfortable with the platform, you can trade without fear of losing your funds. The best thing, however, is that if you succeed with your initial trades, you get to keep the winnings!
Contact Info
Website: www.70trades.com
Telephone: +442031290685
Services Provider: Wanakena Ltd, Agias Zonis 4, Palatino Building, Flat/Office 202, 3027 Limassol, Cyprus
70Trades FAQs
Q: How much should I deposit to open an account with 70trades?
A: You can find more information about 70Trades different account types and the minimum deposit amount they require at the Trading Plans section on the website.
Q: How can I deposit funds with 70trades?
A: 70Trades gives you the opportunity to deposit funds by either a Credit Card, Bank Transfer, Wire transfer or an eWallet. They have made it easier for you to deposit funds directly in your trading platform with your Credit Card. 70Trades accepts all major Credit and Debit cards, plus alternative payment methods like NETTELLER, Skrill, and Webmoney.
Q: How can I withdraw funds from 70trades?
A: You can withdraw funds anytime you want. Please note that for your protection, 70Trades request proof of identity before processing your request. In accordance with fraud prevention and anti-money laundering requirements, your funds will be paid to the bank account or card used to fund your trading account. The processing time takes between 2-6 days depending on your payment method and the financial institution where your account is held.
Q: What are the commissions at 70trades?
A: 70Trades does not charge an additional commission on top of spreads for trading on its platforms.
Q: Am I subject to tax when operating with 70trades?
A: 70Trades does not deduct or pay any taxes on your behalf. It is your own responsibility to take care of tax obligations.
Q: Do they have partnership programs?
A: 70Trades offers several partnership solutions tailored to the specific needs of its clients.
Q: Do they have a demo account?
A: No, but they provide a better alternative – First Protected Positions. Based on your account type, your first 5-up-to-15 positions will be protected from loss, but at the same time, you get to keep the winnings.
Q: Is 70Trades fake or a scam?
A: No, 70Trades is a licensed brokerage. The website is owned by Securcap Securities Limited, Office 4, Suite C2, Orion Mall, Palm Street, Victoria, Mahe, Seychelles, authorized by the Seychelles Financial Services Authority with License No. SD012. The group of companies includes Wanakena Ltd, registration number 379327, from 73 Arch. Makarios III Avenue, Office 301, 1070 Nicosia, Cyprus.
