Founded in 2020, Brokereo is a Cyprus based CFD broker that provides over 350+ trading instruments via the MetaTrader 4 platforms for desktop, web and mobile devices. They also have a choice of trading tools, educational materials, flexible account types and various funding options.
Brokereo Review, Pros & Cons
- Regulated broker
- User-friendly trading platform
- Trading guides
- Trading tools
- Convenient funding options
- $250 minimum deposit
- No USA clients
- Not the lowest spreads
In this detailed Brokereo review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Brokereo is an online CFD broker for trading global assets such as Forex, Metals, Indices, Cryptocurrencies, Commodities Stocks and Shares. They implement advanced technologies alongside industry expertise in order to deliver competitive online trading conditions. Spreads start from 0.03 pips whilst leverage of up to 1:30 is available or 1:500 for those who qualify as professional clients. The broker states that they are committed to each individual trader, whilst maintaining strict security of clients’ trading environment.
Brokereo is a trade name operated by Concorde Investments (Cyprus) Ltd, authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 189/13. The head office of the Company is located in Limassol, Cyprus.
Brokereo accept clients from most countries excluding the USA, Canada and some other countries. Some Brokereo features and products mentioned within this Brokereo review may not be available to traders from specific countries due to legal restrictions.
Brokereo clients get instant access to the ever popular MetaTrader 4 trading platform to trade various asset classes with real time pricing. MT4 is used by millions of traders across the globe and is well know for its user-friendly interface and abundance of built-in trading tools to assist with conducting detailed market analysis on multiple chart timeframes and types. The platform can cater to the needs of new and experienced traders alike.
MT4 can be used on any device of your choice, such as laptops, desktop computers, tablets and smartphones. The MT4 mobile trading app allows you to take the market with you wherever you go. There is also the web-based version which can run directly in your web browser without needing to download or install any additional software.
Brokereo Trading Tools
The provided MetaTrader platform has a large selection of trading tools included. However, the broker also offers an economic calendar and news articles where you can check the latest happenings in various markets across the globe.
Brokereo clients can get free access to the premium service of signal centre, a provider of financial technical analysis and market insight.
The broker offers clients a choice of educational resources including trading guides, tutorial videos and eBooks. This can be a useful way for beginners to improve their trading knowledge and skills.
Brokereo offer over 350+ CFD instruments including Forex, Metals, Indices, Cryptocurrencies, Commodities Stocks and Shares.
Brokereo Accounts & Fees
Brokereo have a choice of 3 account types, the silver, gold and platinum accounts. The main difference between the accounts are the spreads, which start from 0.03 pips on the platinum account and the swap discounts. Each account gets its own benefits. Leverage is maxed out at 1:30 although those who qualify as professional clients, can apply for leverage of up to 1:500. The minimum deposit to open a trading account is $250.
Demo accounts are available for those who wish to practice their trading strategies and familiarise themselves with the brokers service and trading platforms before trading live. Islamic swap-free accounts that comply with Sharia law are also available upon request.
As broker fees can vary and change, there may be additional fees that are not listed in this Brokereo review. It is imperative to ensure that you check and understand all of the latest information before you open a Brokereo account for online trading.
Brokereo have an experienced and reliable customer support team that is on hand to help you with any general or technical questions that you may have. They can be reached via email, online chat and telephone.
Brokereo Deposit & Withdrawal
Brokereo have a variety of convenient methods for depositing and withdrawing funds from your trading account. This includes bank wire, credit/debit card and online payment systems such as Neteller and Skrill. Please note that some methods may only be available to specific countries and not all are available for both deposit and withdrawal.
Some fees may be charged when using certain payment methods. Withdrawal requests are processed within the same day or next if outside working hours. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant.
Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries. Brokereo strictly do not accept third-party payments. All funds deposited into your trading account must be under the same name as your Brokereo trading account.
Brokereo Account Opening
There is a short online form to complete on the brokers website if you would like to apply for a trading account with Brokereo. You will need to submit some personal information and documents as part of the brokers KYC and AML procedures.
Accounts can be opened USD, EUR and GBP. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
Overall, Brokereo is a regulated trading broker with a variety of different CFD trading instruments. They provide clients with the easy to use MetaTrader 4 platform along with additional trading tools and some educational materials. The spreads are competitive, there are flexible account types and funding options, whilst support is available 24/5 to assist traders.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.