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Britonprice
Rating:
Binary Option Programs Award
Min. Deposit
$5,000
Min. Investment
-
Regulated Broker
No

Britonprice Broker Review

  1. Britonprice is an unregulated forex broker based in Bulgaria that offers CFD trading in forex, crypto, stocks, indices, ETFs and bonds. It is important to note here that The Malta Financial Services Authority (MFSA) and the German financial watchdog BaFin have both issued trading warnings against Britonprice, warning investors of their lack of any legitimate trading license and their suspicious website.

    Read our full review of Britonprice for South African traders, pros and cons and final conclusion on whether or not Britonprice is a scam or not.

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    Britonprice Account Types

    The first immediate disadvantage we found when reviewing this forex broker was their unreasonably high minimum deposit. Britonprice asks for a $5,000 starting deposit for their beginner’s account, which is substantially higher than the $200 – $250 minimum deposit usually required by most forex brokers.

    In fact, you can find even cheaper alternatives like IQ Option or Binary.com, who are both regulated brokers with $10 and $5 minimum deposits.

    We were also disappointed to discover that Britonprice does not offer South African traders any demo account to practice or test their platform beforehand. We strongly suggest South African users choose a broker with a free demo account, especially if they are beginners.

    You can take a look at all forex trading accounts below.

    Micro Account

    • Minimum deposit: $5,000
    • Maximum leverage: 1:200
    • 10% margin loan
    • Monthly market review

    Mini Account

    • Minimum deposit: $7,000
    • Maximum leverage: 1:200
    • 25% margin loan
    • Monthly market review
    • Weekly live stream trading webinar

    Silver Account

    • Minimum deposit: $10,000
    • Maximum leverage: 1:200
    • 35% margin loan
    • Weekly market review
    • Weekly live stream trading webinar
    • Personal account manager

    Gold Account

    • Minimum deposit: $30,000
    • Maximum leverage: 1:200
    • 50% margin loan
    • Weekly market review
    • Weekly live stream trading webinar
    • Personal account manager
    • Personal broker
    • Weekly one-on-one trading sessions

    Diamond Account

    • Minimum deposit: $100,000
    • Maximum leverage: 1:300
    • 75% margin loan
    • Daily market review
    • Weekly live stream trading webinar
    • Personal account manager
    • Personal broker
    • Daily one-on-one trading sessions
    • Invitation to VIP events

     

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    Britonprice Trading Platform & Assets

    By trading with Britonprice, South African users will be given the choice between a variety of underlying assets which include forex, crypto, stocks, indices, ETFs and bonds. The forex broker offers all the major cryptocurrency CFDs like Bitcoin, Etheruem, Litecoin, Dash, Ripple, Bitcoin Cash, Bitcoin Gold, Tron, ZCash and more.

    The maximum leverage available is 1:200. However, there is no mention of spreads, minimum investment lots or any other trading conditions on the website. This lack of transparency is not a sign of a professional company.

    Web Trader

    Now, Britonprice mainly uses a web-based platform, that can be accessed directly from your web browser. South African traders will not need to make any downloads or installations, but simply login to their account on the website.

    The Britonprice web trader is a simple platform, but lacks some basic charting and advanced tools that can be found on the Metatrader 4 (MT4) platform for example. MT4 is considered one of the most popular trading platforms online and it was another disappointment to not have them available here.

    In fact, it is quite perplexing that a forex broker with a $5,000 minimum deposit requirement has a much simpler platform that would not suit professional investors. You would think they want to attract more advanced traders, but it appears not.

    britonprice platform

    Mobile Trader

    Finally, Britonprice gives South African users the choice of downloading their trading platform on their smartphone or tablet through a mobile app. Many South African investors prefer trading on-the-go, because it allows them to always be on top of any market movement, as well as keep an eye on their open trades.

    Britonprice Customer Support

    The Britonprice customer support team is available via email, phone or the online contact form on their website. There is no South African number available, but only a UK one. There is also no live chat option, which is preferred by many traders.

    Email: [email protected]
    Phone number: +44 58795562

    The company that owns and operates Britonprice is Britonprice FinServices LTD, located in Sofia, Bulgaria.

    Britonprice Deposit & Withdrawal Methods

    As mentioned previously, the minimum deposit to open a simple account with Britonprice is $5,000. The methods South African traders can use to deposit are:

    • Credit card (Visa, MasterCard)
    • Qiwi Wallet
    • WebMoney

    However, there is no mention of whether the forex broker accepts wire transfers. There is also no mention of the withdrawal process, what documents it requires, howlong it takes, or what methods you can use. Once again, Britonprice proves to be especially vague.

    Britonprice Pros & Cons

    For your convenience, we have summarized all the basic advantages and disadvantages of Britonprice below.

    Pros

    • Underlying asset variety
    • Solid leverage

    Cons

    • Not licensed or regulated
    • EU regulators issued official warnings against them
    • Unreasonably high minimum deposit ($5,000)
    • No demo account
    • No MT4 platform
    • Lack of transparency

    Is Britonprice a Scam?

    We do not have sufficient evidence to call Britonprice a scam, but we would definitely advise South African traders to stay away from this forex broker. They hold no valid trading license, have official warnings issued against them and lack basic information on their website. There are the most important disadvantages to keep in mind here.

    Instead of wasting your time in a company you’re not sure you can trust, trade directly with the best regulated broker for South African traders – IQ Option.

    Why is IQ Option the best? Check out some of their basic features below.

    • Licensed and regulated
    • Free $10,000 demo account
    • $10 minimum deposit
    • Award-winning trading app

     

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