The online trading has become in the last few years an option for everyone, so, there are a lot of options to trade. This business is volatile and risky, that’s why it is necessary to know with what kind of platforms and companies you are going to work, this why you will be able to trust in them. We offer you a review of one of these sites.
One of the trending options now is 70 trades. It is a new platform to trade, but, as any new thing, it is scary to work with it because we are working and putting our money in risk.
First of all it is necessary to know what 70 Trades is.
Searching in many reviews, comments and one or another opinion, the most simple definition of 70 trades is that is a forex broker that will offer you and every one of its customers three account types, it also has a trading software called PROfit.
At first this trading platform has a chart window which compared to other platforms is relatively small, but it does not really matter because it can be easily and quickly adjusted.
One of the good things about this broker is that it offers a variety of assets to trade, for example: Bond, market indexes, currencies, commodities and shares. You can find it in Arabic, Italian, Spanish, French and English. It is owned by commodious FX Ltd., a Vanuatu financial services commission.
One of the things that is important to know if you want to use 70 trades, is if it has a license, and it does, it shows a license from Vanuatu, an island in the pacific ocean.
70 trades as a forex broker offers forex trading services through 70 trades mobile and web trading platforms.
Its creators learned that it takes about 70 transactions for an investor to become an expert in the world of trading.
So, ¿what are the different kind of accounts you can open in 70 trades according to all the comments heard?
In all the reviews seen in the web, we can find these types of accounts:
- Entry level: it has a minimum deposit of 200$ and a maximum leverage of 1:200
- Advanced: its minimum deposit is unknow and its spread is fixed from 3.0 pips
- Pro: just like the advance account, the pro account has an unknown minimum deposit.
The deposit that 70 trades requires to start is a little bit higher than what others brokers demand, some brokers even let you start with just 5$. However, they have a protection policy that will prevent the client´s account from turning their balances into negative.
So, that will make that the trader is never capable of lose more than the investment they make at the beginning. They truly care about the client´s safety.
This platform count with partnerships which have a leading of banks, this way they will help you ensure a really simple and easy deposit, this will separate your capital from the company´s capital, like that, it would be a win-win.
It offers many trading tools that will assist you (as a trader) on every one of the levels to make the best use out of this new service, also, you will have total control of your account. Of course it all depends on your opinion in this case.
According to others reviews, 70 trades will help you if you are a new trader, you know, if you are just getting started in the world of trading, ¿in which way?, well it will guide you to develop some skills to be a little bit more familiar with trade. This way, it will be possible that even if you are an early trader you are able to make greats trades and at the same time, you´ll learn the in’s and the out’s of this particular type of investment.
It offers different payment methods, such as: credit or debit card, bank transfer and e-wallets like Netteller or Skrill.
70 trades has a high leverage, even though this can be good or bad, like a double-edge sword, because it will amplify both your loosing and winning trades. That means that it doesn´t matter how good it sounds, we can´t get blinded by the lights because it can be dangerous. In the USA, regulators decided to set a capital for every level offered to retail clients maybe at 1:50.
This brokerage firm has another big plus, they handle coaching excellently. Regardless if you are starting to invest or you are a professional trader, they will provide you educational materials and resources (all those will be available for you). Also they will give you oil trades, courses for gold and commodities.
70 Trades, our opinion
Some comments you can find in the web are:
- “70 Trades gave me confidence in many situations about the online trading fields and compared to others services, it is really fine”
- “Is cool to work with it, because when you start trading they will give you a USD 200 bonus just to begin”
- “Is better to trade with currencies instead of bitcoins, and 70 trades is a nice place to start trading”
70 trades is a good broker to start trading. Its trading platform is really simple, nothing spectacular, but it does its job if we are talking about manual trading. Also some people have accused the site to be a scam; anyone interested can make a research and verify its authenticity. Many sites are often accused of scamming when there’s money involved, but in these cases it is recommendable to read the reviews, investigate, and specially, invest with precaution. Remember that one of the keys of forex trading is never to invest more than what you are willing to lose.