Brokereo is the newest CFD broker service. On the platform, it is possible to trade cryptocurrencies, commodities, stocks, indices, precious metals and foreign exchange (Forex). Brokereo was founded in 2020 and is based in Cyprus.
Brokereo is particularly well represented in the cryptocurrency sector. It offers trading pairs with over 30 of the currently most important digital currencies. The cryptocurrencies can be traded against the Euro, US dollar and British pound. In addition to cryptocurrencies, over 60 of the most important stocks, over 15 raw materials, over 15 of the world’s most important stock indices, the precious metals gold, silver, platinum etc. and over 45 foreign currencies are currently tradable.
Registration And Account Types
Registering with Brokereo is easy and intuitive. As with all trading platforms, you enter your data and verify it with the corresponding documents. After the Brokereo team has verified the data, you can transfer money and start trading.
Brokereo offers an individually tailored offer for everyone with 3 account types, namely: Silver (beginners), Gold (advanced users) and Platinum (experts).
The silver account is tailored for beginners. The maximum leverage is 1:30, the smallest spread is 0.07. There are over 350 tradable CFDs on different asset classes. There is no discount on the swap fees. The customer service is available around the clock on working days.
The gold account offers more and is suitable for traders who have already gained experience with the markets and have been able to make profits. The maximum leverage is 1:30 for hobby traders and 1: 400/1: 500 for professionals. The smallest spreads are 0.05. Over 350 assets are tradable and the swap discount is 25%. The resolution of the prices is finer (5 digits). Each gold account has its own account manager.
The platinum account is intended for experts. The maximum leverage is the same as with the gold account, the minimum spreads are 0.03. The number of tradable CFDs is also over 350. The swap discount is 50%. There are news alerts and free VPS. Even with the platinum account you get your own account manager and of course you can enjoy the fine resolution of the prices.
Brokereo offers the possibility to set up any account as an Islamic account and thus to practice sharia-compliant trading. You can also set up a demo account with Brokereo to familiarize yourself with trading without risk. Brokereo supports 7 languages, including German.
In addition to the web trader, you can also use the Metatrader 4 (MT4) for trading on Brokereo. The MT4 is the most widely used trading software on forex markets with a large number of trading tools (indicators, programmable processes, automatic trading and much more). This enables easy entry especially for traders who are already familiar with the software.
Deposits And Withdrawals
Brokereo supports multiple deposit options. These are usually free of charge. This is not always the case with withdrawals. If you don’t make enough transactions or wants to withdraw less than 100 euros, fees apply. Brokereo supports the following payment options:
MIR Limited, Mastercard, PaySafe, Skrill, Trustly, SSL, Payvision, SafeCharge, VISA, VPay, Neteller, Maestro
The minimum deposit amount is € 250.
Regulation And Security Of Deposits
An important issue when dealing with brokers is of course the security of finances and deposits. Brokereo is based in Cyprus and is subject to the regulations there. The company is licensed and registered with CySEC, which can be viewed here. The CySEC is comparable to the American SEC and places high demands on the licenses.
Cyprus is a country of the EU and has to meet its high requirements, which should give the investors a certain level of security. One of the conditions to be licensed by the CySEC is the payment into a local Investor Compensation Fund (ICF). Should something happen to the company, the deposits are insured up to € 20,000.
Customer Service And Education
Brokereo offers customer service Monday through Friday from 8:00 a.m. to 6:00 p.m. (CET). In addition to customer service, there is a wide range of learning materials about using the platform and how markets work. The learning materials include videos, articles, seminars, courses and e-books.
How Does Brokereo Make Its Money?
Brokereo does not charge any dealer commissions. The money is collected through the spread and the overnight swap fees. There is an inactivity fee that applies if the account is not used for a long period of time. This amounts to 80 € / month. The fee is only calculated from the 61st day (then 160 €). If you are inactive for more than 90 days, the monthly inactivity fee increases to € 120. These inactivity fees are common with CFD brokers.
Brokereo is a well regulated and secure broker from Cyprus. The fees are in the lower segment. The offer is large, especially in the field of cryptocurrencies. The platform is easy to use and easily and intuitively accessible via Metatrader 4. The account types enable customized interaction with the platform. Customer support is reliable and helpful. All in all, Brokereo is a young, strong company that will stir up the brokerage market and is well worth a look.
CFDs are complex instruments and carry a high risk of losing money quickly due to leverage. The vast majority of retail accounts lose money when trading CFDs. You should consider whether you can afford to take the risk of losing money. You should ensure that your country of residence allows you to trade Brokereo products.