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By Trend

Saint Vincent and the Grenadines|2-5 years|
Suspicious Scope of Business|High potential risk|

https://bytrend.com/

Website

Rating Index

Influence

Influence

D

Influence index NO.1

Russia 2.66

Surpassed 100.00% brokers

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Contact

support@bytrend.com
https://bytrend.com/
Suite 305, Griffith Corporate Centre, Kingstown, St. Vincent & the Grenadines

Licenses

No valid regulatory information, please be aware of the risk!

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No restriction on the broker account. Support service provided by WikiFX

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40G

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Contact number

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Broker Information

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Company Name

By Trend LLC

Abbreviation

By Trend

Platform registered country and region

Saint Vincent and the Grenadines

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 2
Previous Detection : 2024-07-14
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

By Trend · WikiFX Survey

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By Trend · Company Summary

Aspect Information
Registered Country/Area Saint Vincent and the Grenadines
Founded year 2-5 years ago
Company Name By Trend LLC
Regulation Not subject to any valid regulation
Minimum Deposit Mini account: 500 USD, Midi account: 2000 USD, Maxi account: 5000 USD
Maximum Leverage N/A
Spreads Starting from 0 pips
Trading Platforms Web Trader (web-based platform)
Tradable Assets Currencies: Various currency pairs, Crypto assets: Cryptocurrency pairs, Securities: Stocks, Commodities: BRENT, NG, WTI, Metals: GOLD, SILVER
Account Types Mini account, Midi account, Maxi account
Demo Account Not mentioned
Islamic Account Not mentioned
Customer Support 24/7 support via email (support@bytrend.com), Company address: Suite 305, Griffith Corporate Centre, Kingstown, St. Vincent & the Grenadines
Payment Methods Bank transfers, Credit cards, Cryptocurrency (1% processing fee for crypto deposits and withdrawals)
Educational Tools Economic calendar with essential information, News updates and articles on trading schedule and market developments

Overview of By Trend

By Trend, a company based in Saint Vincent and the Grenadines, offers trading services across various market instruments. They cater to both experienced and novice traders with account options that have varying minimum deposit requirements and trading volumes. The available market instruments include currency pairs, crypto-assets, securities, commodities, and precious metals, each with its own set of trading hours.

However, it's important to note that By Trend lacks valid regulation, which poses potential risks for investors. Traders should exercise caution when considering this broker's services. Account types range from Mini to Maxi, with corresponding minimum deposits and bonuses. By Trend offers a web-based trading platform called Web Trader, which is user-friendly and includes essential market analysis tools.

While By Trend provides an economic calendar and news updates to assist traders in making informed decisions, reviews of the platform express concerns about difficulties with withdrawals, account operation issues, and significant financial losses experienced by some users. Overall, potential investors should approach By Trend with caution due to its lack of regulatory oversight and the reported challenges faced by its customers.

basic-info

Pros and Cons

By Trend presents several advantages, including a diverse range of tradable assets, multiple account options with associated bonuses, and a straightforward account opening procedure with no fees for bank transfers or credit card deposits. Additionally, their user-friendly web-based trading platform offers convenience. However, it's important to note that By Trend lacks valid regulatory oversight, provides limited types of market instruments, requires higher minimum deposits for certain account types, and lacks transparency regarding leverage. Furthermore, a notable drawback is the absence of a demo account, along with limited educational resources and customer support channels.

Pros Cons
Offers multiple currencies, crypto-assets, securities, commodities, and metals Not subject to valid regulation
Multiple account types with bonuses Limited types of market instruments
Simple account opening process Higher minimum deposits for some account types
No fees for bank transfers or credit card deposits Lack of transparency regarding leverage
User-friendly web-based trading platform No demo account available
Provides economic calendar and news updates Limited educational resources
24/7 customer support Limited customer Support channels available

Is By Trend Legit?

By Trend is not subject to any valid regulation, posing potential risks for investors. It is essential to exercise caution when considering this broker's services.

regulation

Market Instruments

Currencies: By Trend provides trading options for currency pairs such as AUDCAD, AUDCHF, AUDJPY, AUDNZD, and AUDUSD, among others. These pairs are available for trading from 00:00 Monday to 23:59 Friday on the EET session time.

Crypto-assets: By Trend offers cryptocurrency pairs like BCHBTC, BCHETH, BCHEUR, BCHUSD, BTCEUR, BTCUSD, and BTGUSD. These cryptocurrency pairs are available for trading from 08:00 Monday to 16:35 Friday.

Securities: By Trend offers securities trading on stocks like AAPL, ADBE, AMZN, AXP, BA, BAC, and C. Trading hours for securities are from 16:30 Monday to 22:55 Friday.

Commodities: By Trend provides trading opportunities in commodities such as BRENT, NG (Natural Gas), and WTI (Crude Oil). These commodities are available for trading from 00:00 Monday to 23:59 Friday.

Metals: By Trend offers trading in precious metals like GOLD and SILVER. Trading hours for metals are from 00:00 Monday to 22:59 Friday.

market-instruments

Pros and Cons

Pros Cons
Trading opportunities in commodities Limited types of market instruments available
Availability of cryptocurrency pairs Lack of information on leverage

Account Types

Mini: This account type requires a recommended minimum deposit of 500 USD. The minimal trading volume is 0.01 lot, and traders can receive a cashback of 3 USD per lot. Additionally, there is a 10% bonus available with every replenishment.

Midi: To open a Midi account, a recommended minimum deposit of 2000 USD is required. The minimal trading volume is 0.1 lot, and traders can receive a cashback of 4 USD per lot. An added incentive is a 20% bonus offered with each replenishment, along with a 1% interest on the balance.

Maxi: For the Maxi account, a recommended minimum deposit of 5000 USD is needed. The minimal trading volume is 1 lot, and traders can earn a cashback of 5 USD per lot. This account type provides a 30% bonus with every replenishment and offers a monthly interest rate of 2% on the balance.

account-types

Pros and Cons

Pros Cons
Multiple account options with varying features Higher recommended minimum deposits
Cashback and bonus incentives available No demo account mentioned
Monthly interest rates on certain accounts Different account types may not suit all traders

How to Open an Account

To open an account with By Trend, follow these steps:

  1. Click on the “Open account” button.

open-account
  1. Register by providing your personal information, including your name, surname, date of birth, and gender (select from Male or Female).

  2. Fill in additional details like your Skype ID and any applicable promotion code.

  3. Click “Submit” to complete the account opening process.

open-account

Leverage

Specific leverage information for By Trend is not available on their website.

Spreads & Commissions

By Trend offers spreads starting from 0 pips. And low commissions are offered.

spread-commission

Minimum Deposit

The Mini account calls for a minimum deposit of 500 USD, while the Midi account requires a deposit of 2000 USD. For the Maxi account, the recommended minimum deposit is 5000 USD.

Deposit & Withdraw

By Trend offers a variety of deposit and withdrawal options, including bank transfers, credit cards, and cryptocurrency. There are no processing fees for bank transfers or credit card deposits. There is a 1% processing fee for cryptocurrency deposits and withdrawals.

Pros and Cons

Pros Cons
Multiple deposit options available 1% processing fee for cryptocurrency transactions
No fees for bank transfers or credit card deposits Limited information on withdrawal methods
Lack of detail on withdrawal processing times

Trading Platforms

By Trend offers a web-based trading platform called Web Trader, providing swift access to CFD trading without the need for downloads or setups. It boasts a well-designed and modern interface, enabling traders to initiate trades within seconds. The platform offers essential market analysis tools, supports over 100 trading instruments, and includes integrated protection against DDoS attacks. It also features a trading panel for quick transactions and is accessible via any web browser, with the option to customize the color scheme to suit individual preferences.

trading-platform

Pros and Cons

Pros Cons
Swift access to CFD trading without downloads or setups Limited information on advanced features and tools
Well-designed and modern interface for quick trade initiation No alternative platforms available
Supports over 100 trading instruments and includes DDoS protection Absence of details on charting options and technical analysis tools

Educational Tools

By Trend provides traders with an economic calendar featuring essential information. The calendar includes details such as the date, time (GMT +00), country, event, actual, forecast, and previous data for various economic events. For instance, it covers events like the Caixin Services PMI, Chinese Composite PMI, RBA Interest Rate Decision, Retail Sales data, and more. This economic calendar equips traders with valuable insights into economic events and their potential impacts on the markets, aiding in informed decision-making. Additionally,

educational-resources

By Trend offers news updates, including trading schedule updates and relevant articles, to keep traders informed about market developments and important information.

educational-resources

Customer Support

By Trend offers 24/7 customer support for inquiries related to their services. You can reach their specialists via email at support@bytrend.com or by using the provided callback form on their website, where you can enter your name, surname, email, and your question. Their company address is Suite 305, Griffith Corporate Centre, Kingstown, St. Vincent & the Grenadines.

customer-support

Reviews

The reviews of By Trend on WikiFX express concerns regarding difficulties with withdrawals, an inability to operate accounts with deposits or pre-payments, and issues related to checking account balances. One user mentioned a significant financial loss of 850,000 pesos. The review, dated October 24, 2021, highlights challenges faced by customers in their interactions with the platform.

reviews

Conclusion

In conclusion, By Trend presents both advantages and disadvantages for potential users. On the positive side, the broker offers a range of trading instruments, including currencies, crypto-assets, securities, commodities, and metals. It provides multiple account types with varying features and bonuses and offers a web-based trading platform with essential market analysis tools. Additionally, By Trend provides traders with an economic calendar and news updates for informed decision-making, along with 24/7 customer support. However, it should be noted that By Trend lacks valid regulation, posing potential risks for investors. Reviews also express concerns about difficulties with withdrawals, account operations, and account balances, indicating challenges faced by customers. Therefore, caution is advised when considering By Trend's services.

FAQs

Q: Is By Trend a regulated company?

A: No, By Trend is not subject to any valid regulation, which poses potential risks for investors. Caution is advised when considering their services.

Q: What market instruments can I trade with By Trend?

A: By Trend offers trading in currencies, crypto-assets, securities, commodities, and metals.

Q: What are the different account types offered by By Trend?

A: By Trend offers Mini, Midi, and Maxi account types with varying minimum deposits, trading volumes, cashback, bonuses, and interest rates.

Q: How can I open an account with By Trend?

A: To open an account, click on the “Open account” button, register with your personal information, fill in additional details, and submit your application.

Q: What are the deposit and withdrawal options at By Trend?

A: By Trend offers various deposit and withdrawal methods, including bank transfers, credit cards, and cryptocurrency, with different processing fees.

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