Everest Trade Review
Clients of Everest Trade are offered a single account with leverage up to 1:200, commission-free trading, variable spreads, and the option to use micro tradeable lots.
Besides, there are also demo accounts, which, unfortunately are available for 3 days only. Most brokers offer free demo accounts for at least a month and some provide such with unlimited duration.
On the good side, the minimum initial amount required by this broke is not high, and given the 100% bonus on first deposit, you can start with $50. What is more, the broker charges no commission fees and the spreads are competitive, averaged 1.1 pips on EUR/USD.
On the bad side, Everest Trade admits acting as counterparty in transactions conducted on its Trading Platform, so it is a market maker. Worse still, the company behind the brand is registered offshore.
The Company. Security of Funds
Everest Trade Limited
Everest Trade offers trading in around 40 currency pairs, CFDs on commodities and indices, a wide range of stocks, as well as Bitcoins on its proprietary web-based platform.
Everest Trade is a brand operated by Everest Trade Limited – a company licensed in Vanuatu. Vanuatu is a popular offshore destination for forex and binary brokers, as it offers a variety of tax benefits (no income tax, no capital gains tax nor inheritance tax), registration process for is fast and low cost, and capital requirements are also very low, amounting to $2000. Yet, these are only advantages for the companies operating offshore, while for traders these zones are dangerous, as little focus is placed on consumer protection. That is why we recommend doing business with brokers regulated by UK’s FCA or Australia’s ASIC instead
Clients of Everest Trade are offered a web-based platform, as well as mobile versions for Android and iOS.
In fact, this broker’s trading terminal appears very basic. It is Java-based, equipped with simple charting tools and some technical indicators. The platform does not have API for automated trading and lacks many of MetaTrader 4’s sophisticated features, and most notably, Expert Advisors.
Methods of Payment
Everest Trade offers its clients the following payment modes: Credit/Debit cards, Bank wire, Yandex Money, Moneta Ru, WebMoney, Skrill, Neteller.
Bitcoins are also accepted, but the broker is not operating with the cryptocurrency directly. All payments in BTC will be converted in USD (by partner BIPS), but there is no option for the same way withdrawals for now.
Everest Trade is yet another forex broker and market maker registered in Vanuatu. Although its spreads appear attractive, the main disadvantage of this broker is that it is registered offshore and not licensed by any financial authority. Besides, the MT4 is not supported, and there is no option for auto trading (EAs).
Everest Trade Review Conclusion
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