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EMarketsTrade
Rating:
Binary Option Programs Award
Min. Deposit
€250
Min. Investment
n/a
Regulated Broker
No

eMarketsTrade Broker Review

  1. EMarketsTrade

    Established in 2017, eMarketsTrade is an unlicensed Forex broker providing simple and flexible online trading in more than 2,000 assets, including multiple cryptocurrencies via CFDs. The company offers trading services to clients all over the globe, including South Africa, on a flexible web-based platform in English, Italian and German. Moreover, eMarketsTrade runs rewarding promotional campaigns, providing new and existing customers with numerous opportunities to boost their investment capital with every deposit to their trading accounts.

    Six types of trading account are available at eMarketsTrade, tailored to meet the varying requirements of traders everywhere, including South Africa. All account holders get access to the browser-based trading platforms, without software download from desktop and mobile devices. Leverage made available for margin trading at eMarketsTrade is not clearly indicated on the website. Nevertheless, depending on the asset class traded on the platform, leverage up to 1:100 is offered to customers at eMarketsTrade.

    Trading at eMarketsTrade is free of commission and trading fees. However, we found the spreads for cryptocurrency trading wide, with the Bitcoin spread at $120 at the time of writing this review. Spreads for traditional major currency pairs averaged at around 1.5%, making them competitive with other Forex brokers offering services in South Africa. Notably, the spreads can change at any time, depending on market volatility and the prices that eMarketTrade is prepared to accept for trading various assets on the trading platform. We were disappointed to see that eMarketsTrade does not offer a demo account for risk-free practice trading.

    eMarketsTrade Bronze Chain Account

    • Minimum initial deposit €2,500
    • Webinars and seminars
    • Daily market review
    • Introduction to financial markets

    eMarketsTrade Silver Chain Account

    • Minimum initial deposit €5,000
    • Webinars and seminars
    • Daily market review
    • Introduction to financial markets
    • Personal chain manager
    • No account maintenance fee
    • Risk management team

    eMarketsTrade Gold Chain Account

    • Minimum initial deposit €10,000
    • Personal chain manager
    • Webinars and seminars
    • Private educational session
    • Risk management team
    • Financial market introduction
    • No maintenance or withdrawal fees
    • Daily market review
    • Welcome bonus
    • Monthly fixed block amount

    eMarketsTrade Platinum Chain Account

    • Minimum initial deposit €50,000
    • Executive chain manager
    • Risk management team
    • Personal coach
    • Private educational session
    • Live trading session
    • Financial market session
    • Webinars and seminars
    • Welcome bonus
    • Daily market review
    • No maintenance or withdrawal fees
    • Loyal Chain Program
    • Monthly fixed block amount

    eMarketsTrade Diamond Chain Account

    • Minimum initial deposit €100,000
    • Executive chain manager
    • Risk management team
    • Personal coach
    • Private educational session
    • Financial market introduction
    • Live trading session
    • Webinars and seminars
    • Executive crypto indicator
    • Welcome bonus
    • Customized crypto package
    • Membership of the Loyal Chain Program
    • Exclusive quarterly crypto report
    • Diamond Chain Bonus
    • Monthly fixed block amount
    • No withdrawal or account maintenance fee
    • Daily market review

    eMarketsTrade Satoshi Mogul Chain Account

    With a minimum initial deposit of €250,000, traders can set up a Satoshi Mogul Chain account with eMarketsTrade. Whilst the exact benefits of the exclusive account are only provided to customers who contact an account manager for details, we saw that traders can expect an ‘exclusive, powerful and personalised service’.

    Bonus Offers at eMarketsTrade

    Both new and existing customers can expect to receive promotional offers from eMarketsTrade, usually in the form of broker bonuses, deposit bonuses and ‘no deposit’ bonuses for VIP clients. Importantly, bonuses are meant to give customers a boost in investment funds and opportunities to increase profits. However, it’s important to read the terms and conditions of each bonus offer before accepting, as they typically require a very large trading volume to be executed within a limited period of time. At eMarketsTrade we saw that clients must execute a trading volume of 40X the amount of the bonus PLUS deposit on a typical bonus offer. Notably, bonuses can’t be removed after acceptance, and non-compliance with bonus terms and conditions, results in traders unable to withdraw funds, without incurring heavy penalties for breaching the agreement. We saw that eMarketsTrade charges a 30% handling fee for making a loss assessment calculation for unfulfilled bonus offers, with the complicated formula published on the website under bonus terms and conditions.

    eMarketsTrade Trading Software

    The trading platform offered by eMarketsTrade is a flexible, browser-based software incorporating two versions, designed to meet the requirements of traders, with varying skills and trading experience. We saw that the ‘CryptoFX’ is the more advanced platform suited to cryptocurrency traders, while the ‘Simplex Crypto’ platform is a straightforward platform with a broad range of tradeable assets. Using the eMarketsTrade trading platforms, clients can access global currency markets, for trading in traditional Forex and cryptocurrency CFDs. At the time of writing this review, eMarketsTrade offered CFDs in multiple tradeable assets including Bitcoin, Litecoin, Ripple, Ethereum, Monero and ZCash.

    CryptoFX Software Features

    Traders with experience in online Forex trading, find themselves in a familiar trading environment when they choose the CryptoFX platform at eMarketsTrade. Notably, the CryptoFX platform provides a broad range of currency pairs for FX and CFD trading. However, the tradeable assets comprise of cryptocurrencies paired against each other and against the USD. It’s important to realise that traders simply predict price movements in the currency pairs and do not buy the physical crypto assets at eMarketsTrade.

    Simplex Crypto Software Features

    Highlighted as the ‘premium’ platform, the Simplex Crypto platform is available exclusively to eMarketsTrade customers. Importantly, the user-friendly Simplex Crypto platform is designed for beginners in online trading and those looking for an uncomplicated trading environment. Despite being a ‘simplified’ version of the CryptoFX platform, the software features real time prices, advanced charting tools and a dazzling range of 2,100 instruments across multiple asset classes. Traders enjoy an intuitive interface and simple search tools with direct access to account management experts from the trading platform, 24 hours a day, 5 days a week. Moreover, with the Simplex Crypto software, traders get access to helpful technical indicators and view tradeable instruments using convenient trading cubes.

    eMarketsTrade Trading on Mobile Devices

    We were impressed to see that the eMarketsTrade, CryptoFX and Simplex Crypto browser-based platforms, are immediately accessible from Android and iOS powered phones and tablets without requiring an app download.  eMarketsTrade uses technologically advanced software, designed for modern traders seeking seamless trading on the go, from any device. The mobile trading platform offers all the features seen on the desktop platform including powerful charting tools and analytical tools.

    eMarketsTrade Customer Support

    Customers can count on customer support 24/5 from a friendly and efficient team at eMarketsTrade. We saw that live chat is available instantly from the interface, and multi-lingual telephone assistance is available in several European languages including Italian, German and English. We were pleased to see that clients in South Africa, can submit a ‘contact us’ form requesting a free call back from a customer services agent, at a time convenient to the client. Alternatively, traders can send an email to the address provided on the website.

    Additional support is given to customers through the extensive training program on the eMarketsTrade website. Clients learn about the trading software as part of the trading account benefits and are given access to the trading academy featuring in-depth webinars and seminars. We were impressed by the vast range of educational material provided about cryptocurrencies and crypto trading. Moreover, daily market news and reviews are published daily on the website along with a market summary and financial calendar.

    eMarketsTrade Payment Methods

    Customers at eMarketsTrade can fund their accounts in USD, GBP or EUR, using multiple payment methods including a broad range of e-Wallets, credit/debit cards and bank wire transfer. Notably, a complete choice of payment methods is shown to new customers at the time of opening a trading account, reflecting the local payment services available in South Africa.

    Importantly, customers do not pay deposit fees to eMarketsTrade, but clients with Bronze and Silver accounts, pay a fee on each withdrawal request. The minimum amount for withdrawal to a credit card is set at €25 and at €100 for a bank wire transfer. Moreover, withdrawal requests are processed from Monday to Friday, starting on the day after receiving the request.

    We saw that eMarketsTrade has the ‘usual’ anti-money laundering and know-your-customer regulations in place, as well as high level security protocols, encrypting financial transactions and protecting customer data. Impressively, the cryptocurrency ledger infrastructure is stored offline, to avoid hackers getting access to information. Moreover, eMarketsTrade utilizes GPG and AES-256 encryption protocol, to protect files during information transfers between the host and customers.

    In compliance with international AML laws, customers at eMarketsTrade are obliged to provide colour copies of a government issued ID document (passport or driving license) and a bank statement or utility bill, showing the customer’s address. Importantly, customers who opt to fund their accounts with credit cards must make copies front and back after blocking the CVV security code, and all but the last 4 digits of the card number. Only after providing the correct documents for account verification, are withdrawal requests processed and funds delivered to clients’ accounts.

    eMarketsTrade is owned by Kalessica Ltd, registration number 380321, Gladston 106, 3032 Limassol, Cyprus. The company telephone number is +357 25262141.

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