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https://seventybrokers.com/
Website
MT4/5
Full License
SeventyInvestech2-Platform
Influence
C
Influence index NO.1
MT4/5 Identification
Full License
Influence
C
Influence index NO.1
Single Core
1G
40G
+1 (856) 421-5844
More
Seventy Investech (Vanuatu) Co., Limited
Seventy Brokers
Singapore
Pyramid scheme complaint
Expose
From the beginning, it has been withdrawn for more than two months, and one of them is expected to arrive at 5.16 in advance, but it has not arrived.
I have been using this platform for several years, and last year's transactions/withdrawals were quite normal. However, since this year, the application for withdrawals has been very difficult. Seven Brokers told me that due to the approval of the acceptor, they requested me to reduce the number of withdrawals from USTD 7000 to USTD 5000 and then to USTD 3000; The USTD 3000 deposit I applied for in March has not been received yet. Seven Brokers has given me various reasons, so please continue to be patient. I believe there are significant issues and this has a significant impact on the rights and interests of users.
On first pic, one can see that I set the stop-loss at 1814. But Seventy Brokers closed my position when the price was below 1812. The second pic showed the price. On third pic, I set the stop-loss at 1772.337, while Seventy Brokers closed at 1751.723, which I was speechless at. What did you do?
After it was exposed last week that SeventyBrokers had problems with withdrawals, they didn’t reply to me about the withdrawals and closed my account as shown in the picture. Now I can’t even log in to make internal transfers or check information.
The data of XAU/USD, crude oil and candlestick was abnormal. There was even no data of candlestick during 16:00, July 14th to 19th. The 4th pic showed the data of XAU/USD on legit platforms for one hour.
There are very few products and the spreads are very high. Some products can only be bought 1 lot, but not 0.1 lot or 0.01 lot, resulting in you having to place heavy positions and increase risks. The stop loss and take profit settings must be at least 500 pips away from the current price. Moreover, customers are not allowed to set stop loss and take profit during non-trading hours. Other platforms do not have this restriction. This results in customers having to stare at the screen all the time and consume energy. What an inconvenience. There have been several situations in the U.S. market where you have to use the price half an hour/an hour later to hit your stop loss in advance. For example, the current price of crude oil is 80, my stop loss is 75, and crude oil will fall a little below 75 one hour later. It didn't give me any room to close my position in time when the price was 80, and it directly used 75 to hit my loss in advance. Overall, this platform is very unscrupulous.
Open an account and deposit in 2021, and the withdrawal wouldn't be approved until March 2023. It hasn't arrived since it was approved. In addition, the background was prohibited, and I asked the customer service to lift the ban and asked me to provide a police certificate issued by the Public Security Bureau in English. Stupid platform. During this process, hundreds of emails were communicated. The final explanation was the issue of the acceptor, and waited for the feedback from the acceptor.
I cannot log in after I take a meal outside. They place an order on June 16 for me and today is June 24, but I do not when did I place the order. I had a short order and they change it to long order. Then, I start to log in my backstage and this has shown up.
Company Summary
Company profile
General Information & Regulation
Seventy Brokers is a Vanuatu registered foreign exchange and CFD broker offering global securities and derivatives, including foreign exchange, metals, energy, index and commodity futures, and CFDs on US stocks to investors around the world. Seventy Brokers holds a Retail Outlets License (License No. 14885) authorized by the Financial Services Commission of Vanuatu.
Market Instruments
Seventy Brokers offers traders a wide range of tradable financial instruments, including foreign exchange margin contracts, metals, crude oil, commodity futures, global stock indices, and other indices, and CFDs on US stocks.
Minimum Deposit
Seventy Brokers offers five types of accounts, namely the All-Inclusive Securities Account (minimum deposit requirement of $100 ), the Equity CFD Account (minimum opening amount of $2,000 ), the Unlimited Leverage Account (maximum deposit of up to $300), and the Premium All-Inclusive Securities Account (minimum The minimum opening amount is 10,000 USD ), as well as the institutional clearing account (minimum opening amount is 20,000 USD ).
Seventy Brokers Leverage
The trading leverage relates closely with account balance. When the account balance is over 1000 USD, then unlimited leverage reduced to 1:100. However, traders' account balance is less than 300 usd,they can use unlimited traders again.
Spreads & Commissions
Standard spreads or commissions are charged on All-Inclusive accounts, but no specific spreads are shown. Equity CFD dedicated accounts offer a 40% reduction in stock trading fees, and unlimited leverage accounts have slightly higher spreads than full-power accounts. Premium All-inclusive securities accounts charge lower spreads or commissions, and inter-agency clearing accounts have the lowest spreads and additional clearing commissions.
Trading Platforms
Seventy Brokers provides all traders with free access to MT5 as a trading terminal, as well as MT5 iOS, MT5 Android, and MT5 PC for traders to choose flexibly and trade anytime, anywhere.
Deposit and Withdrawal
Seventy Brokers supports traders to deposit and withdraw funds from their investment accounts via bank cards, digital currency, Skrill, and PayPal.
Customer Support
Seventy Brokers' customer support team can be available through email, telephone, as well as some social media platform like Facebook, Linkedin, Twitter, Line. Authough live chat is provided, it is like a automatic robot answering traders' questions, not real persons.
Seventy Brokers Pros & Cons
Seventy Brokers advantages include:
1. A wide range of financial products
2. Multiple accounts available
3. MT5 trading platform
4. Instant online customer support
Seventy Brokers disadvantages include:
1. Offshore regulation
2. Non-transparent fees
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