Contents
- 1 Pros and Cons of Evotrade
- 2 Overview of Evotrade
- 3 Regulation and Security
- 4 Account Types and Bonuses
- 5 Trading Platforms
- 6 Deposit and Withdrawal Options
- 7 Trading Instruments
- 8 Customer Support and Educational Resources
- 9 Demo Account
- 10 User Experience and Feedback
- 11 Fees and Commissions
- 12 Frequently Asked Questions about Evotrade
- 12.1 What is Evotrade?
- 12.2 Is Evotrade regulated?
- 12.3 How can I open an account with Evotrade?
- 12.4 What types of accounts does Evotrade offer?
- 12.5 What deposit methods are available?
- 12.6 Are there any withdrawal fees on Evotrade?
- 12.7 Does Evotrade offer a demo account?
- 12.8 What trading platform does Evotrade use?
- 12.9 What kind of customer support does Evotrade provide?
- 12.10 What trading instruments are available on Evotrade?
| Broker | Evotrade |
| Company Name | TechWare Limited |
| Headquarters | Seychelles |
| Regulation | FMRRC (license RU 0395 AA V0172) |
| US Traders Accepted | No |
| Max Payout | 90% |
| Bonus | 30% match bonus |
| Trading Platform | MetaTrader 5, WebTrader |
| Trading app | Available for Android and iOS |
| Demo Account | Yes, unlimited |
| Early Closure | Available |
| Deposit Options | Bank transfer, credit/debit cards, Skrill |
| Deposit Currencies | US dollar, euro, Russian ruble |
| Minimum Deposit | $10 |
| Minimum Trade | $10 |
| Maximum Trade | $1,000 |
| Online Since | 2021 |
| Trading Instruments | Energies, shares, currencies, metals, futures, crypto |
| Number of Trading Instruments | 700 |
| Binary Option Types | Call/put |
| Customer Support Types | Phone, email, live chat |
| Tools Offered | Tools included with MT5, Forex signals |
| Awards | None listed |
| Languages | English, German, Russian, Italian, Polish, Arabic |
Evotrade is an online trading platform that allows traders to engage in various financial markets, including forex, binaries, and cryptocurrencies. Established in 2021 and operated by TechWare Limited, based in the Seychelles, Evotrade aims primarily at the European market, catering specifically to clients from Russia and Eastern Europe. The primary objective of this broker is to provide a seamless trading experience with an array of features designed to meet both novice and experienced traders’ needs.
One of the hallmark features of Evotrade is its utilization of the widely recognized MetaTrader 5 (MT5) trading platform, known for its user-friendly interface and robust analytical tools. Additionally, Evotrade supports over 700 trading instruments, allowing traders to diversify their portfolios across energies, shares, currencies, and futures.
The broker offers a variety of account types, beginning with a low minimum deposit of $10. New users can benefit from a 30% match bonus on their initial deposit, providing extra resources for trading. Evotrade also provides an unlimited demo account for practice, which enables users to hone their trading strategies without any financial risk.
However, despite these attractive features, users should note that Evotrade’s regulatory status is questionable, as it operates under the independent oversight of the FMRRC, rather than a government authority. This aspect may raise concerns for potential traders regarding the safety and legitimacy of the platform.
Pros and Cons of Evotrade
- Pros:
- Offers a 30% match bonus on the initial deposit.
- Unlimited demo account for practice without restrictions.
- Uses the popular MetaTrader 5 platform for trading.
- Diverse range of over 700 trading instruments.
- Accessible customer support via multiple channels.
- Cons:
- Lack of formal government regulation.
- Limited customer reviews due to its new presence in the market.
- Higher withdrawal fees for certain methods.
- Restricted access for traders in several countries.
- Withdrawal limits may be challenging for some users.
- Offers a 30% match bonus on the initial deposit.
- Unlimited demo account for practice without restrictions.
- Uses the popular MetaTrader 5 platform for trading.
- Diverse range of over 700 trading instruments.
- Accessible customer support via multiple channels.
- Lack of formal government regulation.
- Limited customer reviews due to its new presence in the market.
- Higher withdrawal fees for certain methods.
- Restricted access for traders in several countries.
- Withdrawal limits may be challenging for some users.
The Evotrade Review provides an in-depth analysis of the Evotrade trading platform, exploring its various features, regulatory status, account types, deposit and withdrawal methods, and user experience. This article aims to help traders make informed decisions by examining the strengths and weaknesses of Evotrade as a broker.
Overview of Evotrade
Evotrade is a relatively new entrant in the online trading market, having emerged onto the scene in 2021. The platform is operated by TechWare Limited, a company located in Seychelles. While Evotrade offers a diverse array of trading instruments, including binary options, Forex options, and many others, it is essential to scrutinize its features, regulations, and trading attributes to ensure it aligns with your trading goals.
Regulation and Security
When evaluating any brokerage, regulation is a critical consideration. Evotrade falls under the scrutiny of the Latvian Financial Market Relations Regulation Center (FMRRC), which, while notable, is not a government regulatory body. Instead, it acts as an independent overseer. As per its license # RU 0395 AA V0172, its legitimacy may raise questions, particularly for traders accustomed to brokers governed by robust governmental oversight. Traders from various countries, including the USA and Canada, are restricted from accessing the platform, which could limit the user base significantly.
Account Types and Bonuses
Evotrade provides multiple account tiers structured around the user’s initial deposit. The tiers include:
- Micro: Starting at $10
- Bronze: $1,000
- Silver: $5,000
- Gold: $10,000
- Platinum: $25,000
- Diamond-VIP: $100,000
Each tier comes with distinct benefits and bonuses. For instance, a 30% match bonus is offered on the initial deposit at the Micro level, with higher tiers granting more substantial bonuses and trading resources. Higher account holders can gain advanced tools like daily market reviews, Forex signals, and insights from market analysts.
Trading Platforms
Evotrade utilizes MetaTrader 5 (MT5) as its primary trading platform. MT5 is recognized for its user-friendly interface and vast array of trading features. Whether trading on a PC, via mobile applications for Android or iOS, or through its web platform, traders can access an extensive range of tools tailored for various trading strategies. Evotrade claims to offer over 700 trading instruments, encompassing a variety of assets like cryptocurrencies, metals, currencies, energies, and shares.
Features of MetaTrader 5
The functionalities that come with MT5 include fast trade execution, advanced charting options, and extensive analytical tools to form comprehensive market strategies. With its support for 21 different timeframes and thousands of indicators, traders can analyze market trends efficiently. Additionally, MT5 allows users to employ automated trading strategies through the use of Expert Advisors.
Deposit and Withdrawal Options
Fundamentally, an intuitive deposit and withdrawal process is vital for user satisfaction. Evotrade supports various funding options including bank transfers, credit/debit cards, and Skrill. The platform accomplishes transactions in multiple currencies such as US dollars, euros, and Russian rubles.
Regarding withdrawals, Evotrade offers bank transfer or credit card options, with specific fees applicable. A $25 fee is charged for bank transfers, and a 3.5% fee for credit card withdrawals. Minimum withdrawal amounts are set at $10, while withdrawals involving cryptocurrencies require a minimum of $50.
Trading Instruments
Traders using Evotrade can access a diverse range of trading instruments. These consist of various classes, including:
- Currencies
- Cryptocurrencies
- Shares
- Energies
- Metals
- Futures
With the platform offering over 700 assets, traders can explore multiple opportunities across different markets, which can aid in portfolio diversification.
Customer Support and Educational Resources
The importance of reliable customer support cannot be overstated in the trading environment. Evotrade offers several channels for support including email, phone, and live chat. However, potential users may encounter variability in its service availability, possibly making it challenging during peak hours.
On the educational front, Evotrade provides an assortment of resources for traders aiming to enhance their market knowledge. The resources encompass webinars, articles, videos, eBooks, and glossaries, thereby catering to both beginner and experienced traders. The availability of these resources significantly contributes to a better trading experience.
Demo Account
One of the notable features of Evotrade is its provision of a demo account. This account is available without limitations, providing users with the freedom to practice trading strategies without the risk of losing real funds. It is instrumental for newcomers aiming to familiarize themselves with the trading environment and develop their skills before venturing into live trading.
User Experience and Feedback
As Evotrade is a relatively new broker, user experiences and reviews are limited. However, despite its newness, some traders have shared their sentiments about the usability and features of the platform. Due to the continuous evolution of online trading platforms, traders are eager to discover how Evotrade performs over time.
Fees and Commissions
When selecting a broker, fees are a crucial factor that can significantly impact overall trading profitability. Evotrade imposes inactivity fees that range from $25 per month for dormant accounts up to $100 for accounts inactive for six months or longer. Additionally, withdrawal fees can diminish the return on investment, making it crucial for traders to consider these costs when trading.
Evotrade presents an engaging trading platform with a wealth of features and resources. With the option to utilize the MT5 platform, access a multitude of financial instruments, and receive educational support, it addresses many needs of contemporary traders. However, due to the factors surrounding its regulatory status and mixed feedback from users, potential traders should engage cautiously.
Evotrade is an online trading platform owned by TechWare Limited, based in Seychelles. This broker provides access to a variety of financial instruments, including currencies, cryptocurrencies, shares, and metals. With a minimum deposit requirement of $10, Evotrade offers different account tiers, each linked with specific bonuses, including a 30% match bonus at the Micro tier. The platform utilizes MetaTrader 5 for trading, known for its user-friendly interface and extensive analytical tools. Despite providing educational resources such as webinars and articles, Evotrade has a regulatory footprint limited to the FMRRC, an independent body. Therefore, potential users are advised to consider the lack of formal government regulation when assessing its trustworthiness.
Frequently Asked Questions about Evotrade
What is Evotrade?
Evotrade is a trading platform operated by TechWare Limited, providing access to various financial instruments including currencies, stocks, and cryptocurrencies.
Is Evotrade regulated?
Evotrade is regulated by an independent organization, the FMRRC. However, it lacks regulation from government authorities.
How can I open an account with Evotrade?
You can open an account by clicking on the “Open An Account” button on their website and completing the registration process.
What types of accounts does Evotrade offer?
Evotrade offers several account tiers based on deposit amounts, ranging from a minimum of $10 for a Micro account to $100,000 for a Diamond-VIP account.
What deposit methods are available?
You can deposit using bank transfer, credit/debit cards, or Skrill, denominated in USD, EUR, or Russian Ruble.
Are there any withdrawal fees on Evotrade?
Yes, the withdrawal fees are 3.5% for credit card transactions and a flat $25 for bank transfers.
Does Evotrade offer a demo account?
Yes, an unlimited demo account is available, allowing you to practice trading without restrictions.
What trading platform does Evotrade use?
Evotrade utilizes the MetaTrader 5 platform, known for its user-friendly interface and diverse trading features.
What kind of customer support does Evotrade provide?
Customer support is available via email, live chat, and phone but may vary in responsiveness.
What trading instruments are available on Evotrade?
Evotrade offers over 700 trading instruments, including currencies, commodities, and cryptocurrencies.