Today Forex Brokers Update

TraderNovo is a new firm with an offshore certification on Marshall Islands. It provides ECN Forex accounts beginning from $100, but the extents are slightly huge for ECN. The maximum bargaining chip is $100.

It was founded in 2015 and have their offices located in Germany, Poland, Romania and United Kingdom.

Payment options include credit/debit cards, Neteller, Skrill, SOFORT, wire transfer and Yandex.Money.

It comprise of two demo platforms; Meta Trader 4 and Web Trading.

It’s integrated with Euro and United States Dollar as a means of account currencies.

Website available in eight different languages; Arabic, English, German, Italian, Polish, Romanian, Russian and Spanish.

Only offers phone as their support method.

Trading server time zone is GMT +2.

Account Types:Novo ECN

  • Minimum account size……………………………………….. $100
  • Minimum position size …………………………………………0.01 lot
  • Spread type ………………………………………………………..Variable
  • Typical spread on EUR/USD, pips…….. ………………1.2
  • Minimum spread on EUR/USD, pips ………………….0.7
  • Scalping …………………………………………………………….Forbidden
  • Expert advisors……………………………………………….. Allowed
  • Trading instruments ………………………………………..Forex………..1:100
  • Trading platforms
    • MetaTrader 4
    • Mobile Trading Platform
    • WebTrader
  • Digits after dot……………………………………………… 5
  • Margin call level ……………………………………………..50%
  • Stop-out level………………………………………. ……10%
  • Minimum distance to stop/limit orders, pips…….. 2
  • Number of currency pairs (of which exotic)…………… 33 (3)

Today Forex Brokers Update

Updates to recorded brokers this week included:

  • Blackwell Global not any more provides LAMM accounts and segregated accounts. The minimum account amount for standard and institutional accounts has risen to $10,000 and $100,000 accordingly. There is no rollover interest amount on current trades in those accounts now as well. Raise the amount of currency pairs for exchanging. Stop-out and margin call openings are now stiff.
  • TeleTrade and Finam attained Forex brokerage permissions from the Bank of Russia.
  • SmartTradeFX has been removed from listing as its site is no longer active.

 

 

 

About The Author

Mike N

Financial Trading Systems Design Expert

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