Warning! Brokereo is an offshore company! Your deposit may be at risk.
RECOMMENDED FOREX BROKERS
Brokereo is a 2020 broker, which says a lot because to launch a broker in a turbulent year as this one means that you are certainly doing something right. We won’t delay.
The structure of the broker is nothing to sing about, but that does not mean that it is not effective. Everything is laid out perfectly, accessibility is on point, and most of the text is straight onpoint.
Concorde Investments LTD is the trading name of Brokereo, and wouldn’t you know, it’s located in Cyprus, but crucially, it is also regulated there by one the most trustworthy regulators, CySEC.
CySEC qualifies in the top 5 global regulators of the FX market. This stature has been reached because of the regulators’ iron hand approach to licensing. For example, one of the most demanding requirements for any broker is that they have to hold a minimum capital of €730 000, as proof of stability. Moreover, CySEC adheres to a legal framework, and so should all licensees.
Crucially, all brokers under its gaze cover their users by a compensation find, that sees each client reimbursed up to €20 000 should the firm becomes insolvent.
Aside from the CySEC regulation, the broker has been granted cross-border licenses by most European Economic Area countries. Here is the full list of these:
Notice some very prominent regulators in the list, all backing up the broker. These include the FCA, BaFIN, and CONSOB, just to name a few.
Brokereo is doing all the things as it should be done, and there is absolutely no doubt that this firm is completely legitimate!
The account creation process is simple and to the point, which may seem a little suspicious to some, but understandable once you realize that the registration process is multi-facets based, and users must share a lot of information if they wish to enjoy the benefits of trading with Brokereo.
However, one big issue we had with it is that in order to conclude the registration process, a user must deposit before uploading his or her documents. It’s not very common for a legit broker to demand a deposit from you. In no way is this suspicious, yet we are sure that there will be users whose eyebrows will rise. To those we say- relax, there is nothing to fear. This is how Brokereo has chosen to approach this.
And another note, we will have to take all trading conditions from the website, which should not be an issue, because the broker is legit. The reason for this is because there was no option for opening a demo account. And this we find peculiar because demo account is very important they allow users to test the platform and see for themselves if they are up for the FX challenge.
Anyway, the financial instruments used to trade are commodities, shares, forex pairs, and cryptocurrencies. These are all staples of the industry making its list of available financial instruments a very solid one.
The EUR/USD cost of trade is said to be 1.6 pips, for some unknown account type. The account overviews claim that the minimum spread is 0.3 for some undisclosed assets. So, we are prone to live that the average EUR/USD spread is in fact 1.6 pips.
The leverage is 1:30, as is ordered by ESMA, in Europe. It can go as high as 1:500 for professional clients. However, to qualify as a pro user takes previous experience and capital requirements, as well as other demanding prerequisites.
The website comes in the following languages: English, Spanish, Portuguese, German, French, Italian, and Swedish.
The MT4 is available on mobile devices, as a web-trader, and comes as standalone desktop software. Basically, users get the gull MT4 package once they register and deposit their initial investment.
As the most popular trading terminal, these are just a pinch of all the tools available to traders: analytical tools, 1 click trading, pending orders, chart customization, EA’s, and so much more. There is no going wrong with the Metatarder 4.
BROKEREO MINIMUM DEPOSIT
As a CySEC regulated broker, Brokereo is fully capable of providing the safest possible deposit methods.
The minimum deposit is $250. This is by far the most common requirement for opening an account there is.
Users can open an account in the following base currencies: EUR, USD, and GBP.
The depositing section reveals that users can deposit only via credit and debit cards.
Deposits are immediate.
BROKEREO WITHDRAWAL TIME AND FEES
Brokereo is regulated by a notoriously severe watchdog, meaning that all withdrawals are as safe and secure as possible.
If the request is submitted before 10:00 AM GMT, then it will be processed that same day. If the request is submitted after 10:00 AM GMT, then it will be processed the following day.
A 50€ withdrawal fee is applied if a user withdrawals and there has been only one trading position opened prior to the request. If there is no activity, then the fee will be €100.
We assume that the withdrawal methods are the same as the depositing ones.
Brokereo can be stapled as a European broker at its core. It holds a stable regulation, offerers competent and fair trading conditions, and is easily accessible to its user base. Some might be pushed back by the signup procedure requiring a deposit to finish, but this is how the broker does it. As a conclusion, we say go for it. This is a very decent brokerage.