What is 70Trades?
70Trades is an innovative, easy-to-use trading platform with a friendly, intuitive design and a wide spectrum of financial assets. It is perfect for professional traders, but it is also suitable for beginners as well, thanks to its helpful research tools. 70Trades also has a mobile app that gives you the opportunity to trade with a single touch no matter where you are. You can reach the free training and dedicated support team 5 days a week and also get live signals and updates and follow the market movements anytime.
70Trades Pros & Cons
Pros
- Friendly design and easy-to-use platform
- A wide variety of assets
- CFD trading available
- First protected positions
Cons
- Off-shore regulation
- High Fixed spread
- Not a standard trading platform
Is 70Trades safe?
70trades is safe as it 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
70Trades’ friendly design guides beginner traders through their first steps as online investors
A wide variety of assets:
Take advantage of an exclusive list of assets, including currency pairs, CFDs, commodities, cryptocurrencies, and indices, with no fees or trading costs.
Friendly design:
70Trades’ friendly design guides beginner traders through their first steps as online investors. The next-generation, easy-to-use platform provides all the necessary financial information that matches every trader’s needs.
Elaborate research tools:
70Trades facilitates trading for people with limited investment knowledge. On the other hand, the 70Trades platform is powerful and exciting enough to satisfy every professional trader’s needs. You not only get all the helping tools by registering to 70Trades but at the same time, you automatically acquire the privilege of free training. You can easily use the 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 great amount of data and trading patterns and save you a lot of effort and time.
Dedicated Support Team:
70Trades has got you covered every step of the way. Do not hesitate to use their skillful and friendly Support team, available from Monday to Friday, between 8:00 and 19:00 GMT. You can also rely on your Personal Account Managers and all the different types of support agents and trainers that are at your disposal at any point.
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
70Trades believes that the most important trades in a trader’s portfolio are the first 70. This is why they have created a “VIP 70 trades” trading account with all the tools a trader needs to help you get started on your initial trades with ease.
Benefits
70trades offers – Entry, Advanced & Pro level account type
- 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 traded before, but you need to freshen up your memory – 70Trades’ Advanced Level is probably the right account type for your needs.
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 routine for you, then you should definitely use the Pro Trader Plan, which is designed to meet every professional trader’s need.
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 in 70trades is $200, but depending on the account type, it can go up to $4000.
Average spreads & Commissions
The fixed spreads offered by 70Trades start from 3 pips for EUR/USD.
Leverage
The highest possible leverage offered by 70trades is 1:200, which is similar to other brokers.
Keep 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
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
Final Overview on 70Trades
70Trades is a state-of-the-art, intuitive CFD trading platform with helpful research tools. It is safe to use, as it is authorized by the Seychelles Financial Services Authority with License No. SD012. The web-version is easy-to-use and requires no installation whatsoever, and the mobile variant has all the benefits of its big brother but optimized to fit the palm of your hand perfectly. One of 70Trades’ biggest benefits is the First Protected Positions, which, depending on your account type, could be from 5-up-to-15. This means that until you get to know the platform better, you can trade without fear of losing your money. But the best thing is that if you succeed, you get to keep the winnings of those initial protected trades, thus ending our 70trades review!
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: What is the minimum deposit to open an account in 70Trades?
A: The minimum deposit is 200 euro, but 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: You can 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 of 70Trades?
A: 70Trades does not charge an additional commission on top of spreads for trading on its platforms.
Q: Am I subject to tax as a 70Trades’ client?
A: 70Trades does not deduct or pay any taxes on your behalf. It is your own responsibility to take care of tax obligations.
Q: Does 70Trades have partnership programs?
A: 70Trades offers several partnership solutions tailored to the specific needs of our clients.
Q: Does 70Trades offer demo accounts?
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 safe?
A: Yes, 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.