Brokerz Review 2020

Brokerz is an unregulated online trading platform that offers CFDs, commodities, stocks, and indices through the powerful and sophisticated MetaTrader 4 (MT4) trading platform. MT4 is available as desktop, web and mobile platforms. Brokerz have a good selection of educational materials and multiple account options to choose from.

Brokerz Review 2020, Pros & Cons
  • User-friendly MetaTrader 4 trading platforms
  • Multiple trading account options
  • A good selection of educational materials
  • Unregulated broker located offshore
  • Minimum $250 deposit
  • Limited account funding options
  • No US clients
  • Not the tightest spreads

In this detailed Brokerz review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

Brokerz is not ranked in our best forex brokers, best stockbrokers, best CFD brokers, best crypto brokers, or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Brokerz.

Brokerz Review: Summary

Brokerz is an online trading broker located in Saint Vincent and the Grenadines and has been providing trading services to clients from across the globe since 2013. They offer a range of tradable assets across multiple markets, including commodities, stocks, indices, and CFDs.

The broker states that its clients’ accounts in Europe, Middle-East, and Canada are completely segregated. They provide clients with the MetaTrader 4 trading platform as well as a generous selection of educational materials.

Brokerz offers a variety of different account types to suit each trader’s individual needs. The minimum deposit required to open an account with this broker is $250. The minimum transaction size depends on the asset being traded, while there is no maximum trade size.

Brokerz Review: Regulation

Brokerz website is owned and operated by Brokerz Limited with registration number 24479 IBC 2018, with registered address C/o Suite 305, Griffith Corporate Centre, Beachmont, PO Box 1510 Kingstown, Saint Vincent and Grenadines. However, there is no regulatory information on the broker’s website.

Most experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our trading broker reviews for alternative regulated brokers.

Brokerz Review: Countries

Brokerz offers online trading services to clients across the globe, excluding the United States and other countries where the local laws prohibit such services.

Some Brokerz features and products mentioned within this Brokerz review may not be available to traders from specific countries due to legal restrictions.

If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.

Brokerz Review: Trading Platforms

MetaTrader 4

Brokerz provides traders with the popular and intuitive MetaTrader 4 trading platform. It is widely known for its fully customizable and user-friendly interface, enabling you to execute your trades quickly and efficiently. The Brokerz MT4 platform allows you to trade more than 30 currency pairs whilst giving you flexibility in your trading. It is available as a desktop application for Windows and Mac computers, a WebTrader that runs directly on most modern web browsers without the need to download or install any additional software, and mobile apps that are compatible with iOS and Android devices.

Brokerz Review: MT4 Trading Platform

Brokerz Review: MT4 Trading Platform

MT4’s expansibility allows you to create your own custom trading indicator using the MQL4 programming language. There is also the one-click functionality that ensures you can execute your trades very fast. MT4 also offers VPS (Virtual Private Server) technology for traders who need to be connected to the market 24/5.

Brokerz WebTrader

This is a user-friendly, web-based platform that synchronizes with your MT4 account. Brokerz Webtrader allows you to experience a desktop trading environment within a web browser. The ease of access is especially useful for traders who want to access their accounts from different locations and devices. The platform is equipped to handle a high volume of live data with updates in real-time, so you won’t miss a beat. It can easily be accessed from the broker’s website.

Here are Brokerz WebTrader features:

  • Same username and password as Metatrader 4 account.
  • Open a position with the WebTrader and close it within the MetaTrader platform.
  • Access from any PC, Macintosh, or Linux workstations.
  • Integrated web-based charting.
  • No download required.
Brokerz Review: Web Trader Platform

Brokerz Review: Web Trader Platform

Brokerz Mobile Trader

This is a state-of-the-art trading platform; it is developed using the HTML5 programming language. The Mobile Trader is compatible with smartphones that support HTML5. It allows traders to manage their accounts and place trades on the go, provided there is an internet connection.

Brokerz Review: Mobile Trading Platform

Brokerz Review: Mobile Trading Platform

Brokerz Review: Trading Tools

There are no standalone trading tools on the broker’s website. However, the MetaTrader 4 trading platform has a good selection of useful trading tools to satisfy the majority of retail trader’s needs.

Brokerz Review: Education

Brokerz provides traders with a good range of educational resources to improve their overall trading skills and knowledge:

Trading School

The Trading School has a selection of educational articles that covers various topics, including technical and fundamental analysis, determining your trading style, trading pairs for beginners, choosing your trading platform, and the five tips every CFD trader should know.

Video Tutorials

The website has a selection of video tutorials covering a vast range of trading topics, such as forex basics, fundamental and technical analysis, trading psychology, and much more.

Brokerz Review: Video Tutorials

Brokerz Review: Video Tutorials

Forex Glossary

There is a glossary on the broker’s website with several trading terminologies and their detailed explanations.

Ebooks

The website has educative eBooks that enlighten traders about online trading.

Brokerz Review: Trading Instruments

Brokerz offers a range of tradable assets across multiple markets, including:

Commodities

Brokerz offers a large number of commodities, such as sugar, corn, cotton, orange juice, soybeans, coffee, wheat, natural gas, gasoline, and, Brent Crude Oil, Light Sweet Crude Oil, palladium, platinum, gold, and copper. These commodities are traded via the MT4 platform, and clients benefit from tight spreads, 24-hour access, and most importantly, real-time market execution.

Indices

The broker offers a large number of equity indices from several stock markets around the world, offering investors a great way to diversify your portfolio. With this broker, you can trade the world’s leading indices, such as Dow Jones, S&P 500, FTSE 100, DAX, JSE, Nikkei 225, and many more. The broker offers competitive spreads and 24-hour access to the markets.

Stocks

Stock trading is a popular starting point for beginner traders, and the broker offers a huge number of popular stocks from different stock exchanges around the world, including the New York Stock Exchange, Nasdaq Stock Exchange, Frankfurt Stock Exchange, London Stock Exchange, Borsa Italia, and others. Some of the stocks available for trading include Apple, Amazon, Microsoft, BMW, ENI, Barclays, and many more.

Forex CFDs

The broker offers CFD trading on a wide range of forex currency pairs, including major currency pairs like EURUSD, GBPUSD, USDJPY, AUDUSD, NZDUSD, USDCAD, and USDCHF. They also offer several minor and exotic currency pairs.

Brokerz Review: Trading Accounts & Fees

Brokerz offers a choice of four different account types to suit every trading style and strategy. The accounts have unique features to meet each trader’s needs, and they include:

Classic Account

  • Minimum required deposit of $250
  • Daily briefing and research
  • Desktop and Mobile Trader
  • Video tutorials

Gold Account

  • A minimum deposit of $5000
  • Daily briefing and research
  • Desktop and Mobile Trader
  • Video tutorials
  • Standard spread: 3 pips fixed
  • For EUR/USD
  • Webinars and Seminars
  • General Account Manager
  • SMS news and signals

Platinum Account

  • It has a minimum required deposit of $15,000
  • Daily briefing and research
  • Desktop and Mobile Trader
  • Video tutorials
  • Standard Spread: 3 pips fixed
  • For EUR/USD
  • Webinars and Seminars
  • General Account Manager
  • SMS News and signals

VIP Account

  • A required minimum deposit of $50,000
  • Daily briefing and research
  • Desktop and Mobile Trader
  • Video tutorials
  • Standard spread: 3 pips fixed
  • For EUR/USD
  • Webinars and Seminars
  • General Account Manager
  • SMS News and signals
  • Premium daily analysis
  • Premium customer care

Demo accounts are also available; you can open as many demo accounts as you wish and have the chance to become familiar with the platform and its functionality for an unlimited period of time. You can practice your trading strategies using virtual funds. For beginners, demo trading is the recommended starting point.

As broker fees can vary and change, there may be additional fees that are not listed in this Brokerz review. It is imperative to ensure that you check and understand all of the latest information before you open a Brokerz account for online trading.

Brokerz Review: Customer Service

The broker offers a customer support team. They are knowledgeable and prompt in response, and they can be reached through telephone, email, or by filling the form on the broker’s website.

Brokerz Review: Deposit & Withdrawal

Brokerz accepts a variety of payment methods, such as:

  • Credit/Debit Cards (Visa, MasterCard or Diner Club)
  • Fast Wire Transfer

The time it takes for funds to appear in your account may vary, depending on the deposit method used: Credit /Debit Cards take approximately 24 hours to process, and Wire Transfer Deposits take approximately 1 to 2 business days to process. Please note, in compliance with the anti-money laundering regulations, Brokerz.com is allowed to transfer funds only to an account bearing your name.

Brokerz Review: Account Opening

Designed with traders in mind, opening a Brokerz account is easy: simply click on the ‘Sign Up’ link and fill in the required information. Once your account has been successfully created, you will need to send verification documents in order to complete the registration process. As soon as your documents have been approved, you will be able to fund your account and begin trading.

To activate your account, the following documents are required:

  • An identifying document, such as a passport, driver’s license, or official I.D
  • Proof of address, such as utility bill or statement (it must not exceed 6 months old)

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.

Brokerz Review: Conclusion

Overall, Brokerz is an online trading broker that offers multiple tradable assets via a range of sophisticated trading platforms. They provide clients with educational resources and multiple trading account types. There is no commission charged on trades. However, the required minimum deposit is $250, which is a bit on the high side, and they are unregulated, which is a red flag for most investors. Furthermore, the trading brokers review team did not find this particular broker to have the tightest spreads.

Trading Foreign Exchange (Forex) and Contracts for Difference (CFDs) is highly speculative, carries a high level of risk, and may not be suitable for all investors. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading online.

Min $250 Deposit

Brokerz is an online trading platform that offers various trading instruments via the MetaTrader 4 platforms for multiple devices. The brokers has a good selection of educational materials & multiple account options but they are not regulated.