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)
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- SmartTradeFX has been removed from listing as its site is no longer active.
