Brokereo Review 2022
Brokereo is a new and exciting broker offering forex and CFD trading in a wide range of popular markets. The broker is aiming towards a new generation of traders and this review will discuss important information like its products, trading platforms, payment methods, trading conditions and more.
Founded in 2020, Brokereo is a young brokerage operating out of the Republic of Cyprus. It is regulated by the Cyprus Securities and Exchange Commission (CySEC), which means it complies with all EU trading laws. Brokereo is a brand name of Concorde Investments (Cyprus) Limited and aims to cater particularly for new traders with little experience, giving them the tools and resources to grow into successful traders.
Brokereo provides two standard trading platforms, WebTrader and MetaTrader 4. Its WebTrader has an advanced search bar to help you find the assets you want to trade. It also has a wealth of charts and indicators that assist in analysing the market. The platform is designed to be user-friendly and easy for beginners to navigate. The simplicity of opening and closing trades is great and reflected in the bidding process.
MetaTrader 4 (MT4) is a household name in the trading world and is available to download on Windows, Linux and Mac OS. The platform provides consistent performance and quality execution that will please both new and experienced traders. There are plenty of user-friendly tools that are heavily customisable, allowing you to tailor the platform to your needs. Orders can be open and closed within seconds and it is easy to track all the orders you have placed. Just like WebTrader, MT4 features many analytical instruments and charts. Additionally, you can set stop-loss orders to protect your funds and you can set up price alert notifications on any assets you are interested in.
Brokereo clients can trade more than 350 financial instruments by way of contracts for difference (CFDs). This means that clients never own the underlying assets, simply making (or losing) money from their change in value.
- Forex: 45 pairs including GBP/USD, EUR/GBP & EUR/USD
- Cryptocurrency: 30 tokens including Bitcoin & Ethereum
- Commodities: 20+ precious metals, energies & soft commodities
- Stocks: Over 100 company shares and equity products
- Indices: 20 global assets including Nasdaq 100, Nikkei 225 & DAX 40
Account Types, Spreads & Commissions
At Brokereo there are three primary trading accounts, silver, gold and platinum. The type of account you open affects the typical spreads. The broker charges no commissions and its spreads are modest.
This is the most basic account available at Brokereo and it is the best fit for new and novice traders. Traders with this account receive access to all of the 350+ financial instruments, as well as all the tools, charts and indicators offered. Typical spreads are:
- EUR/USD: 3.0
- USD/CAD: 4.1
- GBP/USD: 3.5
- EUR/GBP: 4.1
- Crude Oil: 1.0
- Gold: 3.0
- DAX: 5.0
This account is designed for traders that already know a bit about the financial markets. Investors receive a dedicated account manager, as well as a swap discount of 25%. The account has access to more advanced tools and typical spreads include:
- EUR/USD: 2.5
- USD/CAD: 2.6
- EUR/GBP: 2.6
- GBP/USD: 3.0
- Crude Oil: 0.4
- DAX: 3.75
- Gold: 1.8
This is the top-level account available on Brokereo. It is designed for veteran traders with high levels of experience. The swap discount offered is increased to 50% and typical spreads are:
- EUR/USD: 2.0
- USD/CAD: 1.9
- GBP/USD: 2.5
- EUR/GBP: 1.9
- Crude Oil: 0.3
- DAX: 2.5
- Gold: 1.5
The leverage on Brokereo varies depending on the asset you are trading. The maximum leverage is 1:30, which is available on major forex currency pairs like USD/GBP and USD/EUR. Other maximum rates are:
- Minor & Exotic Forex Pairs: 1:20
- Cryptocurrencies: 1:2
- Minor Indices: 1:10
- Major Indices: 1:20
- Commodities: 1:10
- Stocks: 1:5
- Gold: 1:20
Remember that although leverage can increase profits, it also increases the magnitude of any losses. Take care when trading with leverage; always follow a strict plan and implement risk management systems.
Brokereo clients can manage their accounts and make trades on the move thanks to the MT4 mobile app. This platform is available for free download on iOS and Android (APK) devices. The app is fully functional, supporting a range of charting options, indicators, graphical options and order types, though some of the more advanced features of the desktop platform are unavailable.
The minimum deposit for Brokereo is $250. There are no additional fees when depositing funds, though currency conversion charges may be incurred. Deposits can be processed within 5 minutes, though withdrawals can take up to 5 days.
If investors withdraw more than $100, there are no withdrawal fees. Brokereo reserves the right to charge a fee of EUR 50 if a trader makes a withdrawal when there has not been any activity on their account. Moreover, identity verification is required before withdrawals can be made, which can include bank/credit card statements and proof of address.
Deposits and withdrawals can be made via the following methods:
Brokereo offers a free demo account to traders, which is ideal for both new traders that want to practise before starting a live account and experienced traders who want to test new strategies out. The demo account is completely free and users can have their virtual funds recharged should they run out.
Regulation & Licensing
Brokereo is regulated in the Republic of Cyprus. The regulating body is the Cyprus Securities and Exchange Commission (CySEC). Operating within the EU, CySEC ensures that the broker complies with all EU laws on trading. The license number is 189/13.
Brokereo has an outstanding record when it comes to providing educational resources for its users. It provides material for all investors, whether you are a beginner or seasoned trader. There is a section introducing the various assets available on the site, as well as a huge range of trading articles that explain different techniques and strategies to implement. Moreover, there are dedicated trading courses rated from beginner to advanced. These teach about different trading concepts and provide overviews of markets.
What are the key advantages of trading with Brokereo?
- MT4 access
- 350+ assets
- EU regulation
- Free demo account
- Cryptocurrency trading
- Range of payment methods
- Lots of educational resources
No review is complete without looking at the disadvantages.
- No UK clients
- No MT5 platform
- High swap charges
Brokereo trading hours vary from asset to asset. Cryptocurrencies can be traded 24/7, whereas forex markets are only open 24/5 and stocks and indices are limited to the opening times of their respective exchanges.
Brokereo puts customer support at the top of its priorities. Whether you have forgotten your login details, encountered an issue or want to delete your account, a member of the team is ready to help. The broker can be contacted Monday to Friday between 07:00 and 17:00 GMT via the following methods:
- Email: firstname.lastname@example.org
- Phone: +448000318430
- Live chat on the website
Safety & Security
Keeping you and your funds safe is vital when considering opening a trading account. For Brokereo clients, there is a customer compensation fund, which guarantees you will receive your money should anything happen to the firm. Negative balance protection is also available, which means that, should your account balance become zero, all positions are automatically closed, preventing any further losses.
Finally, Brokereo implements account segregation, keeping your account balance and deposits in two separate accounts, both of which are away from the broker’s funds. This ensures that the broker cannot use your capital for personal use and financial gain.
Despite its youth, Brokereo is making a name for itself in the financial world. The broker has a range of financial instruments, trading tools and educational content that make it great for new and experienced traders. If you are considering opening a Brokereo account, follow the button below and sign up for a demo or live account.
Is Brokereo Legit?
Yes, Brokereo is a legitimate broker. The company is registered with CySEC and has received positive reviews on popular forex sites.
How Much Capital Do I Need To Trade With Brokereo?
The minimum deposit for Brokereo is a moderate $250. Once this is deposited, users are free to trade with 350 instruments covering major global financial markets.
Where Is Brokereo Regulated?
Brokereo is regulated in Cyprus by the Cyprus Securities and Exchange Commission (CySEC), a reputable and popular financial watchdog. Being within the EU, the firm must abide by EU regulations and laws regarding personal data protection and security standards.
What Assets Can I Trade On Brokereo?
There are five different asset classes available to trade on Brokereo. Investors can trade forex pairs, commodities, cryptocurrencies, stocks and indices.
Does Brokereo Offer A Demo Account
Brokereo has a free demo account option that simulates a real trading environment with live asset prices and virtual funds. This is a great place to trial the broker, explore markets or test out strategies.
Brokereo accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Compare Brokereo with similar brokers that accept traders from your location. Among available brokers these are the most similar to Brokereo:
- eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. eToro USA LLC does not offer CFDs, only real crypto assets available.
- AAAFx – AAAFx offers CFD trading in forex, commodities, indices and cryptocurrencies.
- IG Group – IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
- Forex.com – Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer tight spreads on a cutting edge platform.
Brokereo Comparison Table
|Markets||Forex, Stocks, Crypto||Forex, Stocks, Commodities, Crypto||Forex, Stocks, Commodities, Crypto||Forex, Stocks, Commodities, Crypto||Forex, Stocks, Commodities, Crypto|
|Minimum Trade||0.01 lots||$10||0.01 lots||0.1 lots||$1|
|Regulators||CySEC||FCA, CySEC, ASIC, FSA||HCMC (Greece), FSCA (South Africa)||FCA, ASIC, MAS, FSCA, JFSA, FMA, CFTC, NFA, BMA, DFSA, FINMA, BaFin||CySEC, IIROC, NFA, CFTC, FCA, CIMA|
|Bonus||–||–||100% Deposit Bonus available for Global clients||–||No|
|Leverage||1:30 Retail, 1:500 Professional||1:30 EU||1:30 EU, 1:500 Global||1:30||1:200|
|Detailed Comparison||–||Brokereo vs eToro||Brokereo vs AAAFx||Brokereo vs IG Group||Brokereo vs Forex.com|
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Brokereo vs Other Brokers
Compare Brokereo with any other broker by selecting the other broker below.
|Brokereo has blasted onto the scene as a forex and CFD broker with a wide range of assets, popular trading platforms, comprehensive educational material and advanced trading support.|