The Forex industry is one of the most developed industries in today’s day and age. Many people fantasize about becoming Forex wizards who earn millions with trading, and they join the market to step closer to their dream. In order to become successful a good broker company is essential, which will let you withdraw your profits, link you to the best quotes, and provide the necessary tools for smooth trading. Now we are going to discuss one of UK’s biggest broker companies. The ValuTrades review gives you detailed information about this Forex, market leader.
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ValuTrades General Info
ValuTrades is one of the Britain’s many Forex brokers who made it to the international scene and it counts clients across the whole wide world. The company became quite famous if we consider that it has been around for only three years. Even if experienced brokers get extra points for their experience, newly established brokers bring freshness and innovations to the market. With 40+ products on its assets list, the broker has come a long way. As every UK broker, this broker also had to apply for an FCA license. Since ValuTrades secured the FCA license, we can freely say that the broker is in good hands and that your funds will be protected sine the broker has to play by FCA’s rules. For example, we know that the FCA requires its entities of supervision to start out with $1 million of capital, as well as to join the security and insurance scheme whereby every trader has to be ensured with $50,000 in case the company goes bankrupt. This is very important for every trader who participates in the highly volatile and ever-changing market. ValuTrades is an ECN broker which means that they link their traders to third parties and there is no conflict of interest between the broker and its clients. The broker is not the liquidity provider, only the intermediary.
The Platform and Software
ValuTrades goes with the flow and offers the mainstream trading platform Meta Trader 4. The MT4 became as known and popular as the industry itself. Online trading has become only successful because the MT4 was so powerful and easy to use that it conquered the hearts of traders and investors. Sometimes I think that the platform will never get old and gain immortal status. In addition, the broker offers the Multi Terminal MT4 MAM which enables trading simultaneously on multiple accounts, but it is also aimed at investment and fund managers. The brokers also offers a FIX (Financial Information Exchange) API (application programming interface) which is an electronic communication interface for communication between a trader, client, investment fund, broker, and liquidity provider. As you probably already know, the MT4 comes in the mobile app version as well, so you probably already assume that you can download the ValuTrade mobile app to your smartphone device.
What Accounts can be opened with ValuTrades?
Besides the Demo account, there are three more ValuTrades accounts which are ranked according to traders’ trading experience:
- Valu Standard account is commission free, but it therefore comes with wider spreads starting from 1.2. It requires a minimum deposit of $100.
- Valu Raw account comes with all the features as the Standard account, except for the extra benefit of offering narrower spreads already from 0.1 pips, and the drawback of requiring a $5 commission per lot traded. Both accounts come with a 1:400 leverage.
- The Valu VIP account requires a $100,000 deposit but therefore it requires no commission, offers custom spreads, and the leverage is 1:100.
It is already clear that the VIP account is truly for those with deeper pockets and not for regular traders. Still, the broker also offers affordable accounts, which means that they welcome all traders and investors who are willing to trade.
ValuTrades Bonus
ValuTrades bonuses include cash back bonuses, and the broker runs occasional promotions for welcome bonuses in the amount of 30% and 50% of the initial deposit up to $2000. It is nice to see that bonuses are still active with some brokers, after the negative no-bonus trend which many brokers adopted too quickly. The Forex market and Forex traders are still used to the extra trading credit and bonus money, and they tend to choose brokers which include generous bonuses. On the other hand, bonuses can fire backward if we consider that many brokers’ bonus policy manipulates traders into spending more money before they can actually withdraw the bonus money. In the end, it often turns out that they have spent more than earned.
Banking Options
ValuTrades offers normal payment methods and transfer conditions. They accept wire transfers and credit cards, as well as e-wallets like Skrill, Neteller, and UnionPay. ValuTrades employees process withdrawal requests within one day, and the money will probably appear in your account the next day, except for wire transfers. Also, you do not have to pay any additional withdrawal fees (but the broker is not responsible for third-party fees).
Customer Support
The ValuTrades customer support is reliable and efficient with a fast-reply policy. Traders really appreciate when they do not have to wait for 24 hours to get information which is relevant only in the moment. The broker offers all modern-day ways of contact, from phone and e-mail to live chat which has become the most popular method. In general, this broker sounds good and seems to offer all that is necessary to start a secure and potentially successful trading career.