SUMMITRADE

What is SUMMITRADE？

SUMMIT TRADE Co. is a cryptocurrency trading platform operator focused on delivering a user-friendly trading experience, offering markets instrument such as Currency Pairs, Indices, Cryptocurrencies,Commodities, Stocks and ETFs.

Pros and Cons

Pros

1. Multiple Market Instruments: SUMMITRADE provides a wide range of instruments, such asCurrency Pairs, Indices, Cryptocurrencies, Commodities, Stocks and ETFs.

2. Multiple Customer Support Channels: SUMMITRADE provides several channels for customer support including live chat, telephone, email, and social media.

3. No commissions charged for CFD trading: At SUMMITRADE, they offer commission-free CFD trading. Trade without additional commission charges and focus on your trading strategies and potential profits.

Cons

1. No Regulation: SUMMITRADE is not regulated, which increases risks for clients as the company doesn't have to adhere to any established financial standards nor offer protections typically required by financial regulators.

Is SUMMITRADE Legit or a Scam？

• Regulatory Sight: SUMMITRADE is currently not regulated by any recognized financial authority. Traders should exercise caution and conduct thorough research before engaging with SUMMITRADE.

• User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.

• Security Measures: Clients are prompted to provide Proof of Identity (POI) to verify their identities. In terms of fund security, SUMMIT TRADE Co. holds all client funds with multiple, approved top tier banks in Australia. In addition, all client money is held separately from SUMMIT TRADE Co. operational money. All deposits are paid to this segregated account which can only be used as permitted by the Client Money Rules under the Corporations Act.

Market Instruments

SUMMITRADE offers a comprehensive selection of market instruments designed to meet the diverse trading needs of investors across global financial markets.

Currency pairs enable traders to engage in forex trading, taking advantage of fluctuations in exchange rates between major and exotic currencies.

Indices trading provides opportunities to speculate on the performance of stock market indices, representing the overall movement of specific sectors or geographic regions.

With cryptocurrencies, traders can participate in the dynamic and evolving digital asset market, trading popular cryptocurrencies like Bitcoin, Ethereum, and Ripple.

Commodities trading encompasses a wide range of raw materials, including precious metals like gold and silver, energy products like crude oil and natural gas, and agricultural products like wheat and coffee.

Additionally, SUMMITRADE offers stocks trading, allowing investors to buy and sell shares of publicly listed companies, and ETFs trading, providing exposure to diversified portfolios of assets such as stocks, bonds, or commodities.

Accounts & Leverage

SUMMITRADE provides traders with a choice of four distinct account types to accommodate varying trading preferences and experience levels: Basic, Silver, Gold, and VIP. Each account tier offers unique features and benefits tailored to meet the diverse needs of traders.

• Basic: The Basic account serves as an entry-level option, with a leverage of 1:10, ideal for beginners looking to start their trading journey with essential tools and resources.

• Silver: The Silver account enhances the trading experience with additional features such as advanced charting tools and market analysis, offering a leverage of 1:40.

• Gold: Traders seeking more comprehensive services can opt for the Gold account, which includes premium benefits like dedicated account managers and priority customer support. It offers a leverage of 1:60.

• Vip: For experienced traders and high-volume investors, the VIP account offers a leverage of 1:100, personalized services, and access to specialized trading opportunities.

For further information, you can check the form below.

How to Open an Account？

You can start by clicking on the “Open Account” button. Next fill in your basic information such as your name, email, phone number, nationality. Then click on “SUBMIT”. Once your account is verified, you can start utilizing the services offered by SUMMITRADE.

Trading Platform

Traders can explore the world of online financial trading on 3 powerful multi-assetplatforms on SUMMITRADE Trade Platform. Available on PC, pad, and mobile phones. All the platforms allow for seamless transition and are packed withadvanced charting capabilities as well as numerous risk management toolsto help traders maximize their profits with as minimal trading risks aspossible.

You can follow these steps to start trading on SUBMIT Trade.

1. ASSET: Click on the 'Asset' tab and select the asset you wish to speculate on its price.

2. AMOUNT: Decide on your investment amount.This is the amount you wish to risk on the trade position; the higher the risk, the higher the potential profits

3. PLACE TRADE: Decide whether you want to go long or short. Ue our advanced platfom features to perform comprehensive analyses on the prices of your favoriteassets. Go long lbuy) if you expect prices to move higher; go short (sell, if you expect prices to move lower.

4. RISK MANAGEMENT: Risk management is very important when trading the financial markets. Use Stop Loss orders (both hard and traling) to limit the risk exposure of your open trades and Take Profit orders to lock in profits already earned.

5. EXIT TRADE: Stop Loss and Take Proft orders at SUMMiT TRADE Co. are quaranteed, they will automatically close your orders when the target price is achieved. But you can also close any open trade anytime you wish by clicking on the 'Close Trade' button.

In addition, SUMMIT is also available on mobile apps. You can trade anywhere and anytime with their top-notch mobile App.

Education Resources

Traders can visit the SUMMIT TRADE Co. education center for numerous educational materials that include tutorials and in-depth videos on how to navigate all our platforms so as to take advantage of all the handy features available. From trade execution and charting features, to trade management and trade exit

Custom Support

SUMMITRADE offers comprehensive customer support to its clients. This includes being available 24 hours a day, 5 days a week. Clients can reach out to SUMMITRADE through various channels.

• Telephone: Clients can call their number +41 225000892 for any queries.

• Email: The firm offers assistance through email atsupport@summitrade.co.

• Live Chat: Live chat is available for clients who prefer a quick and instant response.

• Social Media: SUMMITRADE also maintains a strong presence on Telegram, providing clients with a more informal method of communication or for staying updated with the firm's latest news.

Conclusion

SUMMITRADE is an unregulated broker based in Estonia posing a considerable risk for potential clients. Offering a range of account options including Basic, Silver, Gold, and VIP, each catering to different trading preferences and experience levels. Traders can access a variety of market instruments on the platform, including Currency Pairs, Indices, Cryptocurrencies, Commodities, Stocks, and ETFs. While the platform provides leverage options to enhance trading opportunities, traders should be aware of the risks involved in leveraged trading.

Frequently Asked Questions (FAQs)

Question: What is the minimum deposit requirement？

Answer: The minimum deposit requirement at SUMMIT TRADE Co. is $250, or the equivalent in your desired base currency.

Question: Is SUMMITRADE a regulated broker？

Answer: No, SUMMITRADE does not operate under the regulation of any known financial body.

Question: Does SUMMITRADE offer demo accounts？

Answer: Yes.

Question: What products does SUMMITRADE offer？

Answer: SUMMITRADE offersCurrency Pairs, Indices, Cryptocurrencies, Commodities, Stocks and ETFs.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.