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/10

Netotrade

United Kingdom|5-10 years|
White label MT4|Regional Brokers|High potential risk|

https://www.netotrade.ae

Website

Rating Index

MT4/5 Identification

MT4/5

White Label

NetoTrade1-Demo

Netherlands
MT4
2

Influence

D

Influence index NO.1

United States 2.62

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
NetoTrade1-Demo MT4
Server Location Netherlands

Influence

Influence

D

Influence index NO.1

United States 2.62

Surpassed 100.00% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

support@netotrade.com
https://www.netotrade.ae

Licenses

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

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

Single Core

1G

40G

Open Now

Contact number

Other ways of contact

Broker Information

More

Company Name

Capital Processes Ltd

Abbreviation

Netotrade

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away!
Previous Detection : 2024-07-24
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Netotrade · WikiFX Survey

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Netotrade · Company Summary

Company Name Netotrade
Registered Country/Area Cyprus
Founded Year 2010
Regulation Unregulated
Minimum Deposit $200
Maximum Leverage 1:30
Spreads From 0.3 pips
Trading Platforms MetaTrader 4, MetaTrader 5, NetoTrade WebTrader
Tradable Assets Forex, Cryptocurrencies, Stocks, Commodities, Indices
Account Types Mini, Golden, Platinum, and ECN
Demo Account Yes
Customer Support 24/5 Live Chat, Email, Phone
Deposit & Withdrawal Bank Transfer, Credit/Debit Cards, Skrill, Neteller
Educational Resources Trading Academy, Ebooks, Webinars, Expert Analysis

Overview of Netotrade

NetoTrade, established in 2010, is a global online exchange broker headquartered in Cyprus. The broker prides itself on its motto“Real Market Trading” and has successfully garnered a clientele of over 260,000. Founded by a team of economists with over 50 years of combined experience in the forex market,

NetoTrade is committed to ensuring reliability and transparency in its services. The broker offers a diverse range of trading instruments, including FX pairs, metals, oil, commodities, and select cash indices and equities. Primarily catering to an Arabic-speaking audience, the website can be translated for global users.

NetoTrade provides four distinct live account types: Mini, Golden, Platinum, and ECN, each tailored to cater to different levels of trading expertise.

Additionally, traders can utilize the popular MetaTrader 4/5 platform or opt for NetoTrade's proprietary web-based and mobile platforms for their trading activities.

Overview of Netotrade

Regulatory Information

A significant point of concern for potential investors is the broker's unregulated status. It lacks oversight from major financial regulatory bodies. This absence of regulation can pose substantial risks to traders, as unregulated brokers often lack the stringent compliance and transparency standards set by established regulatory authorities.

Investors dealing with unregulated entities may face challenges in seeking recourse in case of disputes or malpractices. Thus, it's imperative for traders to exercise caution and conduct comprehensive due diligence before engaging with such brokers.

Pros and Cons

Pros Cons
High leverage up to 1:30 Unregulated, higher risks
Competitive spreads from 0.3 pips Limited customer support channels
Diverse trading platforms Lack of advanced trading tools
Wide range of tradable assets Basic educational resources
Multiple account types offered High withdrawal fees and processing times

Pros:

  • High leverage up to 1:30.

  • Competitive spreads from 0.3 pips.

  • Diverse trading platforms including MetaTrader 4, MetaTrader 5, and WebTrader.

  • Wide range of tradable assets such as forex, crypto, stocks, and commodities.

  • Multiple account types are offered - Mini, Golden, Platinum, and ECN.

Cons:

  • Unregulated, poses higher risks for traders.

  • Limited customer support channels - email, phone, live chat only.

  • Lacks advanced trading tools aside from basic platforms.

  • Basic educational resources like trading courses, ebooks, and webinars.

  • High withdrawal fees and processing times.

Market Instruments

Netotrade offers trading on a range of assets including forex, cryptocurrencies, stocks, commodities, and indices. For forex, it provides access to major, minor, and exotic currency pairs. The broker offers trading on major cryptocurrencies like Bitcoin, Ethereum, Litecoin and Ripple. Its stock trading covers popular shares from top global exchanges like NYSE and NASDAQ. The commodities on offer are precious metals like gold and silver as well as oil and natural gas. Traders can also access major global indices like S&P 500, FTSE 100 and Nikkei 225.

However, Netotrade does not offer CFD trading or ETFs and fixed-income products. The leverage and spreads vary depending on the asset class. Cryptocurrencies have a maximum leverage of 1:2.

Overall, Netotrade provides trading on a reasonable range of financial markets , but lacks more advanced trading products like CFDs and ETFs that are offered by regulated brokers. The asset classes are limited to basic forex, stocks, commodities, and indices.

Account Types

NetoTrade, catering to a diverse range of traders, offers four distinct live account types: Mini, Golden, Platinum, and ECN. Each account is tailored to meet the specific needs of traders, from novices to seasoned professionals. The accounts differ in terms of deposit requirements, spreads, leverage, and other features. Below is a summarized table providing an overview of each account type:

Account Type Minimum Deposit Leverage Spread Commission Additional Features
Mini $500 USD Up to 1:400 From 3.3 pips None 25% education bonus
Golden $5,000 USD Up to 1:400 From 2.2 pips None 20% welcome bonus, personal account manager
Platinum $50,000 USD Up to 1:400 From 1.8 pips None Personal account manager
ECN From $5,000 USD Up to 1:400 From 0.3 pips From 0.3 points Personal account manager
Account Types

How to Open an Account?

Opening an account with Netotrade involves a few key steps.

  1. Visit the Netotrade website and click “Open Account”

  2. Provide personal details and choose a standard or Islamic account

  3. Verify identity by uploading documents like passport and proof of address

  4. Make a minimum deposit of $200 or $500 via bank transfer or online payment

  5. Complete the KYC questionnaire and set up account security with 2FA and a password

Leverage

Netotrade offers leverage up to 1:30 on most trading products, allowing traders to amplify their capital. The maximum leverage varies across different assets. For forex trading, the maximum leverage is 1:30. For major cryptocurrencies like Bitcoin, leverage up to 1:2 is provided. Stocks and commodities have a maximum leverage of 1:5. The highest leverage of 1:30 is available on forex and indices. Using leverage can increase profits but also magnifies losses, so caution is advised when trading with leverage.

Trading Product Maximum Leverage
Forex 1:30
Cryptocurrencies 1:02
Stocks 1:05
Commodities 1:05
Indices 1:30

Spreads and Commissions

NetoTrade, a global online exchange broker, offers a variety of account types, each with its own set of trading conditions. One of the primary considerations for traders when selecting an account type is the spread and commission structure, as these directly impact trading costs. NetoTrade's spread and commission offerings vary across its account types, providing traders with options to choose the best fit for their trading style and capital.

Spreads and Commissions Overview:

Account Type Spread Commission
Mini From 3.3 pips None
Golden From 2.2 pips None
Platinum From 1.8 pips None
ECN From 0.3 pips From 0.3 points

The ECN account offers the tightest spreads starting from just 0.3 pips but comes with a commission charge starting from 0.3 points. In contrast, the Mini, Golden, and Platinum accounts have no commission charges but feature higher spreads. Traders should weigh the benefits of tighter spreads against potential commission costs when deciding on an account type.

Trading Platform

Netotrade provides the popular MT4, upgraded MT5, and its own WebTrader to appeal to traders of all levels and preferences. The platforms offer advanced charting, order execution, and customization for technical traders alongside a simple web-based option.

MetaTrader 4 (MT4) Platform

  • A popular third-party platform for trading forex, stocks, commodities, and indices.

  • Advanced technical analysis tools - indicators, charts, drawing tools.

  • Expert advisors for automated trading and backtesting.

  • The mobile app is available for Android and iOS.

  • Customizable layout and optimized order execution.

MetaTrader 5 (MT5) Platform

  • The enhanced version of MT4 with additional assets like cryptocurrencies.

  • Advanced technical analysis and charting capabilities.

  • Algorithmic trading via MQL5 programming language.

  • Trading signals and copy trading features.

  • Available on desktop, web, and mobile.

Netotrade WebTrader

  • Proprietary web-based trading platform.

  • Simple and user-friendly interface optimized for beginners.

  • Real-time quotes, charts, and technical indicators.

  • One-click trading and order management.

  • Customizable layout and workspace.

  • No download is required, accessible from any web browser.

Trading Platform

Deposit and Withdrawal

Netotrade does not charge any fees for deposits made via any method. Deposits are processed instantly with debit/credit cards or within 1 business day for bank wires.

Withdrawals incur relatively high fees of $25 for wire transfers and 3% for cards or e-wallets. Withdrawal times are also slower compared to regulated brokers, taking up to 5 business days via wire and 3 days for online payments.

Overall, Netotrade offers a reasonable selection of deposit and withdrawal options. But withdrawals have high fees and slow processing times.

Deposits Withdrawals
Options Bank wire transfe, Debit/credit cards,E-wallets Bank wire transfer,Debit/credit cards,E-wallets
Fees No fees $25 wire transfer fee<br>- 3% card/e-wallet fee
Processing Time Instant with cards, Up to 1 business day for wire transfers Up to 5 business days for wire transfers,Up to 3 days for cards/e-wallets

Customer Support

Here are the customer support options available at Netotrade:

  • Live Chat - Available 24/5 on trading days. Quick access to support staff through chat.

  • Email Support - Email address provided for questions and queries. Responses within 24 hours.

  • Telephone Support - Phone numbers for countries worldwide. Support available 24/5.

Educational Resources

Netotrade offers a range of educational resources and trading analysis tools to help traders learn and improve their skills. The key educational features include:

  • Trading Academy - Structured online courses covering fundamentals, technical/fundamental analysis, and market overview.

  • Ebooks - Downloadable ebooks on trading strategies, risk management, technical indicators.

  • Webinars - Live and recorded webinars from market experts on latest developments.

  • Trading Guides - Useful guides explaining account funding, platforms, economic calendars etc.

  • News & Analysis - Daily outlooks, market updates, expert insights on latest events.

  • Glossary - Comprehensive trading glossary explaining key terms, jargon.

  • Articles & Videos - Regular articles and videos providing tips and tutorials.

  • Demo Account - Practice account to test skills risk-free.

User Experience & Additional Features

User Experience

  • Mixed feedback on forums and review sites regarding customer service, withdrawal times and spreads.

  • Praised for ease of account opening, funding options and access to MetaTrader platforms.

  • Traders report good execution speed and order fills during normal market conditions.

  • Complaints about occasional platform errors and lag during volatile periods.

Additional Features

  • Copy trading available through MetaTrader platforms to follow signals of experienced traders.

  • Auto trading enabled through Expert Advisors on MT4/MT5.

  • Daily technical analysis reports and trading signals provided by broker's research team.

  • VPS hosting services offered for algorithmic traders.

Promotions

  • Welcome bonus - Up to $500 credited for new live accounts meeting deposit requirements.

  • Refer-a-friend program - Earn up to $100 in credits for each friend referred.

  • Occasional contests with cash prizes for top traders each month.

  • Loyalty program providing cash rebates, bonus credits for active traders.

Comparison with Similar Brokers

NetoTrade offers both fixed and variable spreads, and their platforms include MT4/MT5 and WebTrader. They also provide negative balance protection, 24/5 customer support, and educational resources. Interactive Brokers, on the other hand, offers tiered and fixed spreads, and their platforms include Trader Workstation and WebTrader. They are known for their low commissions, advanced trading tools, and global reach. TD Ameritrade offers variable spreads and its platforms include Thinkorswim and WebTrader. They are known for their user-friendly platform, extensive research tools, and no account minimums.

Broker Spreads Platforms Other Aspects
NetoTrade Fixed and variable spreads MT4, MT5,and WebTrader Negative balance protection, 24/5 customer support, educational resources
Interactive Brokers Tiered and fixed spreads Trader Workstation and WebTrader Low commissions, advanced trading tools, global reach
TD Ameritrade Variable spreads Thinkorswim and WebTrader User-friendly platform, extensive research tools, no account minimums

Conclusion

NetoTrade, a forex broker, has garnered mixed reviews from its users. While it offers platforms like MT4, MT5, and WebTrader for trading various assets, including forex currency pairs, stocks, and commodities, it has faced significant criticism. Notably, the Forex Peace Army has labeled NetoTrade as a scam, citing multiple complaints and issues with fund withdrawals.

The French AMF has also issued a warning about unauthorized forex brokers, with NetoTrade being on that list. Some users have reported unsolicited calls and questionable practices, while a few have defended the broker. Given the varied feedback, potential users should exercise caution and conduct thorough research before engaging with NetoTrade.

FAQs

Q: How can I protect myself from cryptocurrency scams related to platforms like NetoTrade?

A: Use hardware wallets, enable two-factor authentication, and avoid suspicious links.

Q: I've faced issues with withdrawals and account deletions on NetoTrade. What should I do?

A: Report suspicious activities to authorities and consider seeking assistance from recovery agencies.

Q: Why are there concerns about NetoTrade still operating despite numerous scam allegations?

A: Many users have raised concerns. Always conduct thorough research before investing.

Q: An ex-employee mentioned that NetoTrade uses certain tactics. What should I be aware of?

A: Be cautious, and avoid aggressive marketing tactics, and promises of unrealistic returns.

Q: I've lost a significant amount with NetoTrade. Are there any services that can help recover funds?

A: Consider legitimate recovery services, but ensure they're not scams themselves.

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