BrighterTrade Review Scam Complaint
BrighterTrade is a very young forex and CFD broker in the market. It is an international broker founded in April 2018, offering a wide variety of trading options. The broker is owned and operated by Esronian company named, Ingoten OU that is headquartered in Roosikrantsitn, Estonia. The broker is not regulated by any of the official regulatory agency. There is a complete review about the broker covering each of the important points, given below.
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About the BrighterTrade:
The BrighterTrade offers a wide range of choices for trading which is an attractive sign. As this provide traders to choose to participate in a wide range of financial assets such as CFDs on silver and gold, BMW, Barclays, as well as indices, CFDs on stocks of companies such as Adidas, cryptocurrencies like Bitcoin and Etherum, and it also offers currency pairs. The broker offers a web based platform ‘Tradersoft’ and not MT4, this platform is fairly accessible and readable for new or seasoned traders. It can be accessed in nearly every web browser and it works on mobile devices too. However, not providing the MT4 platform is always counted as a drawback. MT4 is unarguably the best platform available in the market today and preferred by more than 80 per cent of traders because of its special and advanced features.
BrighterTrade does not state the spreads that it offers to its clients on their website, nor it has mentioned the leverage. This is always counted as a negative point since information is probably the most valuable commodity in the trading world and an informed trader is a more confident potential client of a brokerage. BrighterTrade offers is clients three accounts to choose from, basic account, standard account and pro account. The minimum deposit requirement for the most basic account is $250 which is much higher than what the usual brokers require from their clients. A low minimum deposit is a great advantage for traders since they are not obliged to risk a big sum of money.
Is BrighterTrade legit or scam?
BrighterTrade is an unregulated international broker who has just entered the market. The lack of regulation opens up many risks to the traders such as no assurance regarding the segregation of the accounts of the clients and those of the broker and this could lead to fraud. Hence, it is advised to not invest with this broker and keep your money safe.