C 7 Traders Review
C 7 Traders offers its clients one basic account type with tight variable spreads, no commission fees, and Straight-Through-Processing (STP) execution on the MetaTrader 4 and SIRIX Web platforms.
Indeed, the offerings of C 7 Traders appear really attractive: There is no minimum initial deposit deposit required, spreads are below 1 pip on EUR/USD, while most brokers offer spreads within the range of 1.0 – 1.5 pips.
The Company. Security of Funds
C 7 Traders is an offshore broker, licensed by the Vanuatu Financial Services Commission as a Dealer in Securities. It has offices in Singapore, Shanghai and London and offers trading in several currency pairs (less than 10) and some CFDs with STP execution and good trading conditions.
Vanuatu offers certain tax benefits (no income tax, no capital gains tax nor inheritance tax) and registration procedure for forex and binary brokers is fast and low cost. The minimum capital licensed companies are required to hold is just $2000. As is the case with offshore zones, little focus is placed on supervision and client protection.
That is why we advise traders to avoid offshore brokers as a general rule and invest with a forex broker licensed in UK, or Cyprus for instance, where regulation is strict and there are compensation schemes, which will protect your money if your broker becomes insolvent. Nonetheless, is you prefer offshore brokers for some reason, C 7 Traders may be a good choice, as most user reviews about the company are positive and the spreads offered are really low.
Like most brokers, C 7 Traders supports the popular MetaTrader 4 (MT4), as well as Sirix web platform.
MT4 earned its reputation due to its ease of use and various useful functionalities that allow the traders not only to make transactions but also analyze market dynamics, to automate their trades via wide range of Expert Advisors and to back-test their strategies. With this broker, it is available as desktop and mobile versions.
C 7 Traders also uses the browser-based Sirix platform, which is also equipped with a special social trading dashboard, where users can follow experienced traders and easily copy their trades.
Methods of Payment
C 7 Traders offers its clients 2 payment methods: bank wire transfer, credit/debit card, and e-wallets Skrill, Neteller and China UnionPay.
C 7 Traders is a relatively young offshore broker that offers attractive trading conditions and has earned good reputation. Our main concern with it is the loose regulation, as well as the limited product portfolio.
C 7 Traders Review Conclusion
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