In Valutrades is a broker who is active in the Asian market since the year 2002, but operates here under the name Monex Capital. Thus, the broker was able to start on the European market, the name change to Valutrades was completed. In addition, a relocation of the headquarters from Asia to London took place. This will Valutrades has opted for a regulation by the Financial Conduct Authority (FCA) and thus offers customers a high level of security.
Our Valutrades test we have put ourselves on the search for the strengths and weaknesses of the supplier and provided an overview of the offer. At first glance, it can be said that Valutrades can score in the test mainly with experience, but also with an excellent trading platform and a diverse menu. Interestingly to know potential customers that it is the seller is a so-called STP broker. So you can enjoy particularly favorable spreads, as our Forex broker comparison shows.
The strengths and weaknesses of Valutrades
- + Valutrades works with the MetaTrader 4 trading platform
- + A demo account is available for free
- + No Dealing-Desk
- — Mediocre selection of underlyings
- — No training program
Direct positive is in our Valutrades assessment that the broker of Asia has moved the headquarters to London. While Valutrades long acted a time exclusively in Asia, the broker has decided to relocate the headquarters for better visibility. By moving to Valutrades has thus subject to regulation of the FCA, providing additional security. UK is among the countries with particularly strict guidelines, which also speaks in our opinion for the broker.
Even when privacy is Valutrades not compromise. Our Valutrades test showed that the broker emphasis on security and this would also provide the customer. The customer data collected will not be disclosed to third parties and used exclusively for the care of the accounts and customers. The FCA also assumes that customer deposits with a broker are always managed separately from the company assets. Thus, for customers once additional security guarantees.Furthermore our Valutrades experiences have shown that the broker as a member of the Financial Services Compensation Scheme (FSCS) is listed. Thus, customer deposits up to an altitude of 50,000 pounds are protected. In our Valutrades-evaluation of these benefits for the customers of course taken into account.
- Regulation by the British Authority FCA
- Deposit protection for customer funds in the amount of up to 50,000 pounds
The MetaTrader 4 is probably many retailers a concept, because in this trading platform is a true classic, likes and often is used. Our experience with Valutrades shows that even the British broker with one of the providers, and thus can access dealer on the MetaTrader. 4 The advantages are obvious. The user interface is particularly clear and simple and therefore extremely suitable for beginners. The order execution goes here fast and do that overlooks well. In addition to the MetaTrader 4 we could test another platform of the provider in our test yet. So Valutrades «tradable» provides. The platform is an open source program and is since 2012 for use. The advantage of this platform is particularly interesting: It is possible here, even customize the appearance and the functionality of a personal nature, have created their own platform. Our testing shows that this is a really interesting offer. Anyone interested in mobile commerce, will not be disappointed. Both Android and iOS is an app Valutrades available.
Valutrades acting as so-called no-dealing desk, meaning that the orders are passed directly to the liquidity providers. Thus, the provider pulls itself out as a market participant, which is a very positive appreciated by many customers. Commission does not have to be paid to the broker, instead, to generate the earnings from the spreads. Our Valutrades test shows that this provides a good overview fees. For trade are more than 90 underlyings available.
- MetaTrader 4 and own platform provided by Valutrades
In Valutrades is only one account available, which facilitates the choice clearly and thus provides equal conditions for all customers. Here, the opening of the account no difficulties. There are only three steps are required and this can be, according to our Valutrades experience, quickly and easily. Registration is through an online application. Here, customers are required to provide personal information. Partly also be asked some questions about trading habits. At this point you decide the currency in which your account is to be performed. But this can be later also changed. The completed application is then forwarded to Valutrades and tested there. After legitimizing the trade can begin already. To legitimize itself the broker would have proof in the form of documents. This can be a copy of your ID or a utility bill.In our Valutrades test, it was found that the account opening within a short time is performed, which clearly speaks for the broker. The submission of original documents or a signed form in paper form is not necessary.
Withdrawal options at Valutrades
Payments are requested by mail or over the phone. Bookings can be made either to the used for the deposit credit card or to the Skrill account. Our experience shows that the payment is made quickly and easily.
- An account with the same conditions for each customer
- Deposit by credit card, it is possible by bank transfer or Skrill
Especially in the early days of the European market Valutrades could not score with a German customer. That has not, however, changed considerably. Both the website and the customer service is offered in German. Nevertheless, our experience with Valutrades have shown that it can also happen to have an English-only customer service on the phone. Also by mail the contact is possible, a live chat is also available.
The bonus is of course always an interesting basis for or against a broker. Also Valutrades offers a bonus option. Engaging in a deposit of 1,000 euros, which can receive a bonus of up to 200 euros as cashback. To be able to pay this bonus, a minimum trading volume of 10 lots within 30 days must be implemented. Thus, the bonus will be paid out, the contact with the customer is necessary.
- Customer Support in German is offered
- The bonus is available in the amount of up to 200 euros
One criticism in the test of Valutrades is for us the fact that the training program is not available. The broker uses this advance the knowledge of the customer and provides neither webinars even an introduction to trading. Only FAQs for the platform are available.
Although the lack of educational opportunities may be a little scare, so customers still have the option to open a demo account and test this with both platforms. The account can be used for a specified period of 14 days.
- No training courses for the customer offer
- Free demo account for both platforms is available