365invest is a forex and CFD broker, which focuses on the European market. The broker also offers negative balance protection. The account creation procedure wasn’t working at the time of writing of this review, so we can’t confirm the validity of the proclaimed trading conditions.
The Company. Security of Funds
Company Country Regulation
Fidelisco Capital Markets Ltd Cyprus CySEC
The company behind 365invest is Fidelisco Capital Markets Ltd., which is based in Cyprus and more importantly is regulated by the local financial watchdog. The Cyprus Securities and Exchange Commission (CySEC) is one of the more reputable agencies and being overseen by it gives a broker a lot of credibility.
First and foremost, we must stress-out the importance of financial regulation. If you start trading with an unregulated company, you are taking a significant counterpary risk i.e. a risk you will not see any money, even if you are profitable. This is why most countries have created agencies to monitor the financial services sector and enforce rules upon it.
CySEC is one such government body, which oversees a lot of forex brokers. In terms of the security of your funds, two major rules are in place. One of them states all the client funds must be kept in the so called segregated accounts. These are special bank accounts, which can’t be accessed freely by the broker – instead strict rules must be followed. On top of that, all CySEC-regulated brokers must participate in the local compensation scheme. This is a mechanism, which guarantees trading accounts against broker insolvency. In the case of Cyprus brokers, coverage is limited to €20,000, per account.
Fidelisco Capital Markets Ltd. is also associated with a couple of binary options brands, but we will not cover them in this review.
Minimum Initial Deposit
In order to open a live account with 365invest one must deposit € 200. This is a relatively high level in the current market environment. Brokers have been lowering the entry bar in recent years, in order to attract new clients. For instance, IG has even removed the minimum deposit criteria altogether.
On the other hand, one should look at the minimum deposit only if it concerns him directly i.e. if he doesn’t have much money to invest. There is nothing wrong with opening a small account. In fact it is preferable, if you are a beginner, as forex trading can be very risky.
Average spreads & Commissions
365invest claims an average spread of 1.2 pips on EUR/USD. We have no way of proving this, as the account creation page was not functioning at the time of writing of this review. That being said, if the claims are true, this is a relatively competitive spread offering. Don’t forget you can always compare the rates provided by some of the world’s top-rated brokers here.
Leverage ratios at 365invest go as high as 1:200, although the default level is 1:50. The company requires you to contact them if you are to increase your leverage, which is a good policy. Beginners often fall victims to high leverage, as they don’t fully grasp the concepts of margin trading. That being said, some forex brokers provide very high leverage, like 1:500, to all clients.
365invest offers MetaTrader4 (MT4) trading. You are very likely to be familiar with this platform if you have any experience in the forex market, as many brokers utilize it. They do so for a few reasons – it’s probably cheaper and more reliable than developing a new one from scratch. Furthermore, the platform is actually good: the charting package is top-notch, it doesn’t use much hardware resources and can handle a lot of instruments being loaded at the same time.
All of these benefits come before even mentioning the MQL marketplace, MetaTrader’s broker-independent online shop for custom add-ons to the platform. The most popular tools are newly developed technical indicators and automated trading systems (better known as Expert Advisors). We have reviewed some of these algo-based strategies here.
While MT4 is great, we couldn’t test the version provided by 365invest, as the platform is only available for account holders and the account creation pages weren’t working at the time of writing of this review.
Methods of Payment
The payment options at 365invest are quite a few: Credit/Debit Card, Skrill, Neteller, iDeal and Giro Pay. This is a solid line-up, covering the most popular e-wallets.
365invest is a CySEC-regulated forex and CFD broker. Trading conditions at the company are relatively competitive. On the other hand the account creation process wasn’t operational when we were doing the review, so we couldn’t verify them.
365invest Review Conclusion
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