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Brokereo is one of the newest CFD trading platforms on the web. Although its a new player in this competitive industry, it has all the hallmarks of a top contender. Apart from offering a wide selection of markets, Brokereo is an award-winning broker which prioritises speed, reliability, and service excellence.
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Brokereo is registered in Cyprus and operated by Concorde Investments (Cyprus) Limited. The platform is regulated by the Cyprus Securities and Exchange Commission (CySEC) and provides an Investor Compensation Fund in case of insolvency. Whilst the platform may be new, it already enjoys a positive online reputation and has won The European’s Best Retail FX Broker – Europe 2020.
The primary instrument used on Brokereo is the Contract for Difference (CFD). This alternative financial method lets you invest in asset derivatives without needing to purchase and store the underlying asset. As a result, you can buy and sell Bitcoin CFDs without needing to have a cryptocurrency wallet. You can learn more about trading CFDs in our detailed guide.
CFDs let you trade faster whilst enjoying lower fees. Brokereo gives you the opportunity to trade with leverage, thus opening bigger positions with a smaller investment. Trading on leverage can magnify potential profits as well as losses. It is considered to be a high-risk strategy which you should only use if you fully understand the risks and can afford losing part or all of your capital. Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
Trading on Brokereo is easy and safe thanks to the features and safety measures put in place by the operator. Apart from protecting user data and financial information through encryption and firewalls, the CFD broker helps users create strong passwords and is continually investing in improved security.
As a regulated platform, Brokereo must comply with strict Anti-Money Laundering and Financing of Terrorism rules. In addition, since it is part of the Investor Compensation Fund, it must comply with additional measures, such as keeping user funds in segregated accounts.
The Brokereo trading platform is designed to be user-friendly and intuitive, giving you the opportunity to manage your portfolio from a single window. For your convenience, the platform is available as both a web platform and a mobile app. No matter which platform you opt for, you will get access to the full range of markets offered by Brokereo. Invest in CFDs of cryptocurrencies, commodities, shares, indices, and metals, or invest directly in Forex. You can even integrate with Meta Trader 4, letting you trade with a platform you are already familiar with.
The browser-based web trader is designed to work across different operating systems, providing you with live updates of your investment portfolio. It offers an easy to use and fully customisable interface letting you open and close orders with a single click. Moreover, advanced search and filter options make it easier to select markets and assets which match your investment strategy.
With the Brokereo mobile trading app, you can stay on top of all your investments wherever you are. Available for Android and iOS devices, you can access the same trading tools and educational support available on the web trader. Open and close trades with a single tap and perform analysis using this 100% functional platform.
You can download the Brokereo mobile trading app by clicking on “Platforms” in the main navigation menu and then clicking on “Mobile app”.
Brokereo caters to both professional and retail investors through dedicated accounts. Professional investors have access to superior features and better rates, but also lose the protection offered through the Investor Compensation Scheme. Retail investors can still enjoy a wide range of features and benefits and a choice of three different account types:
While all three account types share similar benefits, Gold and Platinum account holders enjoy discounts on fees and a dedicated account manager.
The account opening process on this CFD trading platform is fast and simple. To open your Brokereo account today simply follow these steps:
Brokereo will send you a confirmation email to confirm the opening of your new account. Click on the link within the message to verify your email address.
Once you have opened an account on Brokereo, you can log in anytime. Simply follow these steps:
If you have forgotten your password, click on the “Forgot password?” link located at the bottom of the form.
Brokereo is a registered and regulated CFD trading broker which must adhere to strict rules. As part of their Know Your Customer (KYC) processes, they require that all users create an account and verify their details. Although you won’t be required to verify your account immediately, you will not be able to withdraw funds until this step is completed.
To verify your Brokereo account you will need to provide:
Once you have logged into your account, you can find all relevant verification details on the “Documents” tab. If you require any assistance you can contact customer care.
Whether you use Brokereo’s own trading platforms or connect via MT4, buying Bitcoin CFDs and other assets involves a very simple process.
Most orders give you the opportunity to set optional automatic limits. The “Stop Loss” and “Take Profit” limits safeguard your capital by intervening on your behalf when you’re not actively following your trades. They are a good way to cut your losses rather than lose your entire investment. For this reason, it is highly recommended that you activate them with every trade.
It is important to remember that CFDs are complex trading instruments which come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether or not you fully understand how CFDs work and make an informed decision on whether you are willing to take the high risk of a substantial loss.
To close an open position on Brokereo you simply need to do the following:
Once a position has been closed any associated fees are deducted and the balance is deposited into your account. From there you can either withdraw the funds to your bank account or keep them for future trades.
Brokerero gives you the opportunity and flexibility to invest in over 30 cryptocurrency pairs. From a single, user-friendly platform, you will be able to invest in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), DASH (DSH), Ripple (XRP), Ethereum Classic (ETC), and Bitcoin Gold (BTG), amongst others. These cryptocurrencies are paired with the primary fiat currencies of the platform, namely USD, EUR, and GBP.
Brokereo is available in most countries around the world with a few notable exceptions. The list of supported countries can change over time, so you will be notified if your country is supported or not during the signup process.
You can open a Brokereo account if you reside in an EU nation, as well as the UK, Australia, and New Zealand. In fact, you are likely to be able to open an account as long as you do not reside in any country mentioned in the excluded section below.
Brokereo is not currently available to residents of the USA and Canada. In addition, countries which are deemed to present a high financial risk, such as North Korea, are also excluded.
All Brokereo users should be aware of the platform’s fees and limits. The following section offers a thorough breakdown of what you can expect.
Brokereo prides itself on the fact that it is a 0% commission online broker. As a result, the main fee charged by the platform is the spread. This markup is added to the buy and sell price of a CFD, so the price you see includes it already. Gold and Platinum account holders benefit from better spreads than Silver account holders, starting at only 0.03 pips.
Every asset has a time of day which is considered to be the end of the trading day. If you have any CFD positions open beyond this time and have taken any leverage, Brokereo will charge you a swap fee. Once again, gold and platinum accounts benefit from discounted swap fees.
a conversion fee, both when opening and closing a position.
Inactive accounts on Brokereo are subject to account maintenance fees. Following 60 days of inactivity, a fee of €80 is charged. This fee continues to be charged and increases in value for every period of 30 days of further inactivity.
Brokereo does not charge deposit or withdrawal fees in most cases. The main exception related to withdrawals from an inactive account or payments whose value is less than €100. In such cases, a €50 may apply.
The main limits associated with Brokereo relate to leverage and payments.
Different markets support different maximum leverage, with the maximum allowed for retail investors, in any case, being 1:30. Professional investors are able to enjoy leverages of up to 1:500.
The minimum deposit limit on the platform is €250 or equivalent currency. Maximum deposit limits vary by payment method, with cards allowing up to €10,000 and bank transfers rising to €300,000. Although there are no minimum withdrawal limits, a surcharge is applicable to payments below €100. Maximum withdrawals vary based on the payment method.
Brokereo has partnered up with top payment providers. You will see which options are available to your country once you open your account. The main payment methods are:
Each payment method is subject to its own terms and limits.
In parallel with offering functionality and choice, Brokereo ensures that it maintains a safe trading environment for all of its users. The operator implements a variety of security measures, including encrypting financial transactions and securing data behind powerful firewalls. These and other security features are a prerequisite for the company to obtain and retain its operating license.
There are several ways to get in touch with Brokereo’s helpful customer care team. Live chat is available 24/7 and is, therefore, the fastest and most convenient way to communicate. You can also contact the team via phone and email. As a registered account holder, you can also open a ticket.
In addition to speaking to support, the website is equipped to help you through FAQs and educational assistance.
Brokereo is still relatively new to the online trading sector but already enjoys a positive reputation. This is certainly due, in part, to the supportive customer care team.
The online CFD trading platform is constantly adding new features and expanding its markets. Since it operates in a highly competitive industry, Brokereo does not divulge upcoming features ahead of time but announces them just as they are released. As a result, the best way to stay up to date with its latest news is to register to receive emails from the broker. You should also visit Cryptimi News to stay up to date with the latest news related to cryptocurrencies and investments.
Both trading platforms are regulated and own a license issued by CySEC. Whilst they offer similar trading features, eToro excels by providing a much larger selection of cryptocurrency pairs as well as useful features including CopyTrader and CopyPortfolio.
There are several similarities between Brokereo and IQ Option. Both platforms are registered in Cyprus and offer a safe and functional trading environment on computer and mobile. IQ Option’s fees and limits are, in many cases, lower than those offered by Brokereo.
Both Brokereo and T1Markets are licensed in Cyprus and offer MT4 integration through their web and mobile trading platforms. They offer similar fees and provide around 30+ cryptocurrency pairs. T1Market’s minimum deposit fee is slightly lower than Brokereo’s, but overall, both CFD brokers offer a similar solution.
As one of the newer CFD trading platforms, Brokereo faces an uphill struggle to gain market share and shine in a crowded market. Apart from being a licensed broker, it has already won a coveted award and provides a flexible and convenient trading platform. For all these and other reasons, it is certainly a worthy cryptocurrency CFD broker.
AvaTrade is one of the reputed EU-based FX/CFD platforms which offers CFD trading in stocks, commodities, cryptocurrencies, forex, ETFs, and indices.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
ETFinance is a relatively new brokerage platform which lets you trade a variety of financial instruments, including cryptocurrency CFDs. Available across digital devices, the platform offers competitive fees and three-tiered accounts.
ETFinance is a trading name of MAGNUM FX (CYPRUS) LTD registration number HE 360548 authorized and regulated by the Cyprus Securities and Exchange Commission. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.