|Trading Platform||Minimum deposit||Minimum trade size||Maximum leverage||Average Spreads|
|MT4 / MT5||$250||0.01||1:300||1.8 pips|
MetisEtrade offers its clients a single account type, available on two trading platforms –– MetaTrader 4 & MetaTrader 5. Trading with this broker is commission-free and micro lots are available for trade to those unwilling to put much at stake.
Unfortunately, swap-free (Islamic) accounts, as well as PAMM services, are not available with MetisEtrade.
In fact, the variable spreads offered by this broker are above average - typical ones amounting to 1.8 pips on EUR/USD. For further information and comparison, you may look up the real-time spreads of 15 leading brokers here.
As regards leverage, MetisEtrade offers levels up to 1:300, which is average for the forex market. If you need higher leverage, you may check out a list of brokers offering leverage of 1:500 of higher. Bear in mind, however, that using higher leverage levels involves greater risk of losses.
In addition, we would like to point out that this broker offers daily market analysis on its website, as well as rich educational section with articles on forex trading as well as trading courses for investors of all levels of knowledge and experience.
MetisEtrade offers trading in more than 30 currency pairs and CFDs on indices & precious metals on Metaquotes’ MT4 and MT5 platforms.
There are several companies behind the MetisEtrade brand: MetisEtrade, Inc (Philippines), MetisEtrade HK Limited, based in Hong Kong, and Metis Etrade LLC, headquartered in Dallas, Texas, USA. The thing is, none of this companies is licensed to provide financial services. What is more, in 2015 the Philippines Securities and Exchange Commission (SEC) has issued a cease and desist order against the broker, allegedly selling foreign currency trading contracts to the public illegally.
To cut things short, this broker is pretty shady and could be a scam. Hence, if you intend to invest a large amount of money, we would advise you to select a forex broker licensed in UK, Cyprus, or Australia for instance, where traders have certain level of protection and financial watchdogs apply certain requirements to financial providers and exercise supervision.
MetisEtrade offers its clients the leading MetaTrader 4 and MetaTrader 5, desktop and mobile versions available.
MetaTrader 4 (MT4) is preferred choice of most traders (and brokerages), as it is easy to use and offers a number of technical analysis indicators, extensive back-testing options, advanced charting package, and wide range of Expert Advisors (EA), allowing clients to automate their trades. Besides, MetaTrader 4 has the MultiTerminal feature which lets you access multiple accounts in a single terminal.
MT4’s successor, MetaTrader 5 (MT5) is the latest trading platform, developed by Russian company MetaQuotes. It enables traders to execute trades on different financial markets (including stock markets) through a single account. In addition, MetaTrader 5's execution is faster than MetaTrader 4.
MetisEtrade's MT5 platform. Click to enlarge.
Signals trading available on both platforms through an account at MQL5.com.
MetisEtrade offers its clients the following payment modes: credit/debit card (Visa, MasterCard), and bank wire transfer. Popular and e-wallets Skrill & Neteller are not available with this broker.
MetisEtrade provides online trading services in forex and CFDs on two trading platforms, however we find its spreads too high. What is worse, none of the companies behind the brand is regulated, so we would not recommend opening an account with this broker. Here are, in a nutshell, the pros and cons of MetisEtrade:
|Both MT4 & MT5 available||Not regulated|
|Commission-free trading||High spreads|
|Daily market analysis & rich educational section||No PAMM and Islamic accounts|
FXTM is a EU regulated forex broker, offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $1 and take advantage of tight fixed and variable spreads, 1:1000 leverage and swap-free accounts.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
Grand Capital is a MT4 forex broker, offering $500 no deposit bonus and 40% bonus on all deposits.
Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
|Cyprus||CySec||MT4, MT5, Web||$5||Review Website|
|US, UK, Australia||CFTC/NFA, FCA, ASIC||MT4, Web,
|UK, Australia, Singapore||FCA||MT4, Web,
|UK, Cyprus||FCA, CySec||MT4||$5||Review Website|
|UK, Cyprus||FCA, CySEC||MT4, MT5, Web,
|UK, Bulgaria||FCA, FSC||Web||$150||Review Website|
|Belize||IFSC||MT4, MT5||$100||Review Website|
|Cyprus||CySEC||MT4, MT5||$300||Review Website|
|New Zealand||FMA||MT4||$1000||Review Website|