Tradeview Markets Review
Clients of Tradeview Markets are offered a choice of 2 account types: commission-free X Leverage account with higher leverage, and ECN Innovated Liquidity Connector account, providing tighter spreads and involving commission.
Both account types offer trade in micro lots, usually appreciated by inexperienced traders.
The Company. Security of Funds
Established back in 2004, Tradeview Markets (formerly Tradeview Forex) is a trading brokerage organization offering more than 40 financial instruments on 3 trading platforms. Behind this brand is Tradeview Ltd., based on the Cayman Islands and operating on the basis of license from Cayman Islands Monetary Authority (CIMA).
Offshore destinations are famous for its light touch regulation, if any. They are attractive locations to startups, as it is relatively easy and cost-effective for brokers to obtain and run a brokerage business from the jurisdiction.
Some of the advantages of forex companies in the Cayman Islands are exemption from all local taxes and stamp duties, non-disclosure and minimum capital requirements for the company formation. What is more, the CIMA has strict regulations to ensure no money laundering.
Forex regulation and supervision of CIMA cannot be compared to those performed by US or UK financial watchdogs. Still, forex brokers licensed on Cayman Islands are required to have hold at least $100,000 net tangible assets, to adhere to a certain reporting schedule and regularly submit financial reports performed by an independent auditor.
if you intend to invest a large amount of money, however, we would advise you to select a forex broker licensed in UK or Switzerland for instance, where regulation is strict and there are compensation schemes, which will protect your money, in the event that your broker becomes insolvent or ceases trading.
Minimum Initial Deposit
In order to open an account with Tradeview Markets, one has to deposit at least $100. This is a reasonable minimum initial deposit requirement. In comparison, ForexBrokerInc demands $100 for all account types as a start.
Average Spreads & Commissions
Being a ECN broker, Tradeview Markets provides competitive low variable spreads. The ones offered on the commission-free account are averaged 0.9 pips on EUR/USD. The average spreads on the ECN account are even tighter, amounting to 0.2 pips on EUR/USD, however a commission of $2.50 per side per lot applies, so the trading costs on this account amount to around 0.7 pips.
In comparison, Belize-based FX Choice offers variable spreads averaged 1.2 pips on EUR/USD on its commission-free account, while the Pro account provides spreads from 0.5 pips on EUR/USD, and a commission of 1$3.86 per lot (per side).
You may look up real-time spreads of 15 leading brokers here.
This broker offers leverage up to 1:400, which is a relatively high ratio. Most offshore brokers provide similar maximum leverage levels: ForexBrokerInc provides leverage up to 1:500 and Belize-based Colmex Pro – up to 1:400. More forex brokers offering leverage equal to or exceeding 1:500 can be views here.
Please, be advised that higher leverage levels carefully, for they may not only multiply their profits on a small deposit, but also lead to heavy losses in excess of initial investments.
Tradeview Markets offers its customers a choice of three trading platforms: MetaTrader 4 (MT4), cTrader and Currenex.
Intended for experienced traders, Currenex focuses on connecting buy and sell side forex traders via ECN (electronic currency network) and features a variety of order types and execution algorithms, as well as advanced reporting tools. This platform is Java-based, so no installation is required.
Earlier in 2016, Tradeview Markets added cTrader to its platforms lineup. Developed by Spotware, cTrader is a true ECN platform. It provides traders with access to a deep pool of liquidity providers, as well as a large set of advanced tools, such as a number of chart timeframes, 30 technical indicators, trend lines, Fibonacci levels, support and resistance lines, channels, market depth, etc.
Like most brokers, this one also supports MT4, the preferred choice of most experienced traders, as the platform offers a number of technical indicators, extensive back-testing environment, advanced charting package and a wide range of Expert Advisors (EA), allowing clients to fully automate their trades.
EAs are advanced automated trading systems written in MQL4, that are able to analyze market conditions automatically, open/close positions and place/modify/delete orders, so that traders are free from manual trading routines.
Moreover, Tradeview Markets now offers the premier MetaTrader 4 trade copier. This software not only allows you to copy trades from one MT4 account to another MT4 account, it allows you to add a Multiplier that will increase or decrease the size of the trade in the slave account. What is more, this broker has partnered with My FXBook to provide Social Trading with AutoTrade.
In addition, this broker provides MAM account options. A simple, fast, effective and reliable addition to the MetaTrader 4 System, the Tradeview Multi Account Manager plugin allows users to assign multiple sub-accounts to a single master account. Any trade then opened by the master account will be distributed automatically among the sub-accounts, in real time.
Currently this broker offers its traders welcome 100% bonus on deposits up to $500. What is more, till the end of May clients may open an Innovated Liquidity Connector account with just $1000 instead of $25 000.
Methods of Payment
TradeView Markets offers its clients the following payment modes: bank wire, credit card, e-wallets Neteller, Skrill and Uphold. In fact, TradeView is the first forex broker to integrate the services of financial company Uphold.
Based on the Cayman Islands, Tradeview Markets is a reputable broker with more than 10 years of experience on the FX market. It offers attractive trading conditions on a variety of trading platforms. The only concern one might have with this broker is its light touch regulation.
Tradeview Markets Review Conclusion
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