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Trade111
Rating: Rated with 1 star
Binary Option Programs Award
Min. Deposit
$500
Min. Investment
0.01 lot
Regulated Broker
No

  1. Trade111

    Trade111 is an unlicensed forex and CFD broker that offers trading in all major markets.

    Never invest any money with a company you don’t know though. Luckily, we have done the research for you and have all the information you need on whether or not this broker is a good investment for South African traders, or an outright scam.

    The 5 Account Types

    Trade111 offers five different account types based on the deposit South African investors are willing to make and a free demo account for practice. As usual, when it comes to the real accounts, the bigger the deposit, the more extra features that are unlocked.

    The minimum deposit to open the most basic trading account with Trade111 is $500, which is rather pricy – especially for beginners. Usually the starting deposit is $250, and Trade111 has doubled that amount.

    Check out details of each account below.

    Micro Account –> $500 – $999 Minimum Deposit

    • Spreads: fixed from 2
    • leverage: 1:400
    • Minimum trade: 0.01 lot
    • 20% full margin
    • 15% deposit bonus
    • 3-5 business days to withdraw

    Standard Account –> $1,000 – $2,499 Minimum Deposit

    • Spreads: fixed from 2
    • leverage: 1:400
    • Minimum trade: 0.01 lot
    • 20% full margin
    • 25% deposit bonus (+)
    • 3-5 business days to withdraw
    • Daily analysis (+)

    Silver Account –> $2,500 – $9.999 Minimum Deposit

    • Spreads: fixed from 1 / variable from 0.5 (+)
    • leverage: 1:400
    • Minimum trade: 0.1 lots (10,000 units of base currency) (+)
    • 20% full margin
    • 30% deposit bonus (+)
    • 3-5 business days to withdraw
    • Daily analysis
    • Communication manager (+)
    • Algo trading (+)
    • ECN account (+)
    • Expert advisor (+)

    Gold Account –> $10,000 – $24,999 Minimum Deposit

    • Spreads: fixed from 0.7 / variable from 0.5 (+)
    • leverage: upon request (+)
    • Minimum trade: 0.1 lots (10,000 units of base currency)
    • 20% full margin
    • 40% deposit bonus (+)
    • Express 2 days to withdraw
    • Daily analysis
    • Communication manager
    • Algo trading
    • ECN account
    • Expert advisor
    • Free VPN (+)
    • Free market signals (+)
    • Personal account manager (+)
    • MetaTrader5 (MT5) trading platform (+)

    VIP Account –> $25,000 + Minimum Deposit

    • Spreads: fixed from 0.4 / variable from 0.3 (+)
    • leverage: upon request
    • Minimum trade: 0.1 lots (10,000 units of base currency)
    • 20% full margin
    • 50% deposit bonus (+)
    • Express 2 days to withdraw
    • Daily analysis
    • Communication manager
    • Algo trading
    • ECN account
    • Expert advisor
    • Free VPN
    • Free market signals
    • Personal account manager
    • MetaTrader5 (MT5) trading platform
    • Free bank wires (+)

    Demo Account

    Trade111 also offers a free demo account, which allows South African users the ability to practice trading entirely risk-free. This is the perfect solution for complete beginners who don’t want to invest any real money before getting more accustomed to the process. Therefore, they can practice trading on the Trade111 platform and once they feel ready, they can open a real account with the minimum deposit of $500 and begin real trading.

    Trading Platform & Assets

    Trade111 is a forex and CFD broker, which means South African investors can trade all major markets like forex, cryptocurrencies, stocks, commodities and indices. They have over 50 currencies available and the infamous MetaTrader4 (MT4) trading platform to make your trades, as well as a mobile app for easy, on-the-go trading. They do not have a web-based platform.

    Each Trade111 platform is detailed below.

    MetaTrader4 (MT4)

    The MetaTrader4 trading platform is the most popular platform that most South African investors tend to prefer. Its powerful and advanced features, as well as its user-friendly interface have been an investor favorite for quite some time now. Usually, the MT4 platform is considered to be for more advanced traders, but can always be used by a beginner as well.

    To use the MT4 trading platform, South African investors need to download it onto their desktop.

    Mobile App

    For South African users who prefer to not trade through their laptops or PCs at home, there is always the Trade111 mobile app that is available for both Android and IOS devices. This is a perfect solution for trading on-the-go, wherever and whenever it may be.

    In their accounts section, Trade111 also mentions the MetaTrader5 (MT5) platform becoming available in later stages, but was not found anywhere else in the site. In fact, the entire Trade111 site was rather vague and provided non-consistent information which is not only very confusing, but a huge red flag as well.

    Warning: When looking through a broker’s website, always make sure they are being transparent and providing you with clear, consistent information. They need to be giving you all the basic information and clear terms and conditions. Vague websites are always a huge red flag.

    Customer Support

    South African customers can reach the Trade111 customer support team through email or the contact form on their website. They do not specify how long it takes to reply, nor do they offer any live chat. This is regrettable, as users do not have a way of reaching them fast and are not sure how long they will take to reply.

    Company Info & Payment Methods

    Trade111 is owned and operated by the company Blonde Bear OU in Estonia. Their registration number is 14156740, Tallin City, Estonia. However, the address they provide for the Trade111 offices is in the Marshall Islands.

    The payment methods they accept are credit card (Visa, Master Card, Maestro), bank transfers and alternative deposit methods like Qiwi, Webmoney, Moneta and Cashu.

    Warning: South African traders are not advised to deposit any money with this broker.

    Verdict: Is Trade111 a Scam?

    Through careful review of this broker, we have concluded that Trade111 is not a trustworthy broker and South African investors would do well to stay away from them.

    They are not regulated under any entity and lack transparency overall. These are not good signs of a trustworthy broker that you would feel comfortable investing your money in.

    Therefore, instead of wasting your time on good-for-nothing companies, trade directly with an award-winning, regulated broker like IQ Option.

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