Overview of the Valutrades floor
Valutrades (formerly Monex Capital Markets) is a forex broker and CFDs was founded in 2012 in the UK. Valutrades currently has 2 branches, 2 forex floors established in 2 different areas, operating under the brand name Valutrades.
- London-based Valutrades Limited, licensed by FCA - UK Financial Control Authority, license number 586541.
- Valutrades (Seychelles) Limited is licensed and controlled by FSA - Seychelles Financial Services Authority, license number SD028.
Investors opening accounts at any broker will apply the protection policy as well as the trading conditions of that broker.
For Valutrades UK, in addition to committing to separate accounts between the company and customer accounts, this broker is also a member of FSCS - Financial Services Compensation Program, with compensation for investors up to 85,000 GBP, and for Valutrades Seychelles not.
Word
Having operated in the foreign exchange market for nearly 8 years, Valutrades has provided services to customers from more than 180 countries around the world and has received the trust of many traders. This forex seems to have not expanded its market to Vietnam, although Vietnamese investors can still open trading accounts at the exchange, the support services for Vietnamese traders are still limited, which will be difficult. Very large towels for Valutrades to have a large number of customers from this potential market.
Legally, Valutrades UK is licensed by FCA so it's more reliable than Valutrades Seychelles. The trading conditions in UK and Seychelles are not much different, so the following assessments will be general for both Valutrades UK and Valutrades Seychelles, what are the differences, we will clarify in the article for you to have can compare and make the best decision.
Trading products
Valutrades offers a fairly limited range of trading products, including just some basic asset classes such as forex, metals, indices and crude oil. While the market is currently trading many other types of products such as stocks, bonds, cryptocurrencies, ETFs, etc., the portfolio at Valutrades cannot fully meet the needs of investors. However, if you only care about forex and gold, the less a product portfolio, the easier it will be to observe and not be distracted.
- Forex: offers 74 currency pairs, including the main currency pair, cross currency pair and exotic foreign currency pairs - these pairs are of little interest to investors because of the very high spread.
- Metal: investors are traded 3 common metals: gold, silver and platinum, in which gold and silver are quoted in USD and EUR, platinum is quoted in USD only.
- Index: providing 11 well-known stock indices in the world such as AUS200, HK50, JP225, UK100, US100, US500 ...
- Crude oil: including US oil and UK oil
Trading Account
Both Valutrades UK and Valutrades Seychelles offer the same types of trading accounts, except for the maximum leverage used. In Valutrades UK, investors are only allowed to trade with a maximum leverage of 1:30 (except for Professional investors trading at up to 1: 500), at Valutrades Seychelles, all accounts are traded with maximum leverage up to 1: 500. However, 1: 500 is not too high, while many exchanges allow leverage up to 1: several thousand, and of course, high leverage will bring high profits but risks. also high follow.
Standard account: this account is suitable for new traders with small capital, trading with small volume, commission is charged to spread.
- Commission-free transactions
- Spread (forex) from 1 pips
- Minimum / maximum order volume: 0.01 lot / 50 lots (forex)
- To trade all products currently on the floor
- Free VPS
- Negative balance protection
ECN account: is an account for experienced traders who trade with larger volume.
- Commission (forex) 3 $ / 1 order
- Spread (forex) from 0 pips
- Are trading all products
- Negative balance protection
- Surfing transactions allowed
- Unlimited number of open positions
Professional Trader
In addition, Valutrades also allows investors to upgrade to a Professional account to receive better incentives and services on the floor. As a professional client, you can trade with leverage up to 1: 500, using special services such as access to Financial inspection services and protected rights from FCA and FSCS like other accounts. To become a Professional customer, you must meet 2 of the following 3 criteria:
- Performed significant volume transactions
- Have total assets (savings and investments) of 500,000 GBP or more
- Having at least 1 year of working in the financial field in a professional position
Trading platform
Valutrades provides investors with 2 trading platforms of MetaTrader, MT4 and MT5 software. Both MT4 and MT5 are the most popular software currently used.
MT4 software
The software was born before, designed full of features to support transactions from basic to advanced, to meet most segments of investors. Some salient features of MT4 software:
- 3 types of price charts and 9 time frames
- 4 types of pending orders
- More than 50 technical indicators and tools to support chart analysis
- System of EAs and ability to test single-threaded strategies
- Provide daily economic news
- Used on computers, on the web and mobile apps
MT5 software
This software is the next generation, includes all the features of MT4 and is developing some new features, maximum support for advanced transactions. Some new features developed on MT5 software:
- Increase the number of time frames from 9 to 21
- Developed 2 more types of pending orders Buy Stop Limit and Sell Stop Limit
- More than 80 technical indicators and tools to support chart analysis
- System of EAs and ability to test multithreading strategies
- Provide economic Calendar directly on the platform, supporting investors to trade according to news
- Use the MQL5 programming language to create custom indicators, scripts, and EAs
- Used on computers, on the web and mobile apps
Investors trading on MT4 or MT5 are eligible to use services from MQL5 Community, a platform that provides excellent forex trading support services of MetaTrader.
MT4 interface on the web
Transaction training
To support new traders, Valutrades offers a diverse ecosystem of knowledge training programs, including instructional videos, articles on trading knowledge, webinars and online courses. on Webinars ... investors can access this ecosystem at the website of the exchange or in the managed account area.
Leverage, commission and spread
Lever
As mentioned above, the leverage ratio is different for 2 brokers in 2 areas
- Valutrades UK: the maximum rate is 1:30, for Professional customers is 1: 500
- Valutrades Seychelles: maximum ratio is 1: 500
Valutrades only publishes information related to leverage ratio in Valutrades Seychelles. For Valutrades UK, 1:30 is the maximum ratio for forex, the remaining products are traded with lower leverage but there is no specific information.
Maximum leverage ratio for each product type:
Besides, the leverage also depends on the balance on the account, the more money, the lower the leverage used. Forex, if the balance is <20,000 GBP then the leverage is 1: 500; from 20,000 - 100,000 GBP, the leverage is 1: 200; above 100,000 GBP, the maximum leverage used is 1: 100.
Commission
Valutrades only applies commission for forex trading on ECN accounts with a fee of $ 3/1 order, ie with one trade (open and close) you will be charged $ 6.
Spread
The spread on the Standard account is higher than the ECN account but compared to the market average, the spread of the Standard account at Valutrades is low, with spreads on EUR / USD only from 1 pip.
The spread on ECN accounts is quite attractive, can compete with some reputable platforms with the lowest spread in the market today such as IC Markets or Exness.
The average spread (pip) of some major forex pairs on ECN accounts
Forms of deposit and withdrawal
Valutrades offers a variety of deposits and withdrawals such as wire transfer, Visa / Master cards, e-wallets like Neteller, Skrill, Boleto, Remessa ...
Recharge
- There are no fees for depositing money, but fees may arise from the investor's bank
- No minimum deposit required
Withdrawal
- Free the first 3 withdrawals of the month, from the 4th time onwards charge 5% / total withdrawal amount
- Minimum withdrawal is $ 50
- Withdrawal orders will be processed within 24 hours, the money will be back to the account from 1-2 days or 3-5 days depending on the form.
Summary of pros and cons
Advantages
- Licensed by reputable management
- Provide ECN account
- No minimum deposit required
- Diverse trading platform, good
- Commission with no commission (Standard) or low fee (ECN)
- Spread on ECN accounts is low
- Provide many deposit, withdrawal and no fee (if withdraw less than 3 times)
- Livechat operates 24/5, enthusiastic support staff
Defect
- Limited transaction products
- Limited trading account, not much choice for investors
- Does not support advanced analytical tools like Autochartist or Trading Central
- Low leverage
- Website does not support Vietnamese
With Valutrades, you will have to choose to open an account at UK or Seychelles brokers, the trading conditions at these two brokers are similar, except for the maximum leverage used. If you want to have a maximum protection for your trading account, you should choose Valutrades UK, and if you want to trade with high leverage, you should choose Valutrades Seychelles, but with any broker, Valutrades is also one of the reliable forex exchanges. Therefore, this will be a good choice or a substitute for the unreliable ones currently on the market.
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Author: Tin Nguyen
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