Brokereo Review 2021 – Is this broker good?

REVIEW CONTENT

• GENERAL INFORMATION
• FUNDS TRADING AND SECURITY
• THE TRADING ACCOUNTS
• CFDs TRADING CONDITIONS
• CFD TRADING PLATFORM
• BROKEREO’S CFDs TRADING PRODUCTS
• CUSTOMER SERVICE
• CONCLUSION

Broker Review: Brokereo

General Information

Brokereo is an online brokerage that opened its doors recently, starting operations in 2020. It specializes in providing traders with the opportunity to trade on all major CFDs on assets, including forex, stocks, and cryptocurrencies. The firm’s offices are located in Cyprus.

As a new brokerage, you’d expect Brokereo to present quite a few inexperience-caused flaws. However, the broker handles itself like an established firm, with a streamlined website and a set of trading conditions. The design is what you’d come to expect from modern online brokerages with the minimalism that presents a professional feel. The home page accomplishes its task of acting as a quick introduction, and there isn’t any clutter. As such, the broker avoided the increasingly common pitfall of over advertising and causing frustration.

Admittedly, looks and visual design are secondary concerns when choosing an online brokerage. Still, it’s commendable that the broker made sure that you can inspect it without experiencing any frustration. That leads to our next point, in that Brokereo presents information about itself exceptionally well. That’s important since it lets potential customers see what they’re signing up for and make an informed decision. It also shows that the broker is serious about its service and isn’t trying to bait customers.

Needless to say, the first impression Brokereo leaves is quite positive, especially for such a new company. Now it is common for many brokers to look good on the outside, but fall apart once you inspect them closer. As we’ll discuss further down the line, that’s not the case with Brokereo. For now, we’d like to present some of our favourite qualities regarding the company:

• Quick Start

Online brokers have been getting more and more strict with KYC checks and registration processes as time goes on. That’s because of the increasingly rigid regulations they face as trading moves towards the mainstream. However, there’s no denying that, although the checks are often necessary, they’re annoying on the user’s end. As such, we consider it quite a significant benefit that Brokereo’s signup process is quick and effortless. On top of that, their website lets you quickly inform yourself about what you need to know, further accelerating the pre-trading process.

• Low Spreads, High Leverage

As a CFD focused brokerage, Brokereo will undoubtedly attract a specific userbase distinct from other brokers. Since day trading tactics that often employ leverage are common with CFD traders, the broker’s high rates are even more meaningful than usual. A similar thing could be said about their low spreads, although low spreads are considered more universally useful. With the former capping out at up to 1:500 for professional clients and the latter starting at 0.03 pips, you’re certain to get your money’s worth.

• Educational Features at Brokereo
  

Many consider CFDs to be the perfect place to start for newer traders, as the trading process is rather uncomplicated. Besides more experienced CFD traders, the broker is sure to attract quite a few novices. That makes the fact that the broker organized a massive educational library even more meaningful. The broker will provide new traders with a complete experience, acting as both a development tool and trading medium.

Funds Trading and Security

Security is a factor that nobody should ignore when choosing a brokerage to invest money with. Stories of brokers robbing customers have become all too common, which warrants even stricter security checks. People have especially become cautious around new firms, believing most of them to be owners’ get-rich-quick schemes. And while there’s definitely some truth to that, as there’s been an incline in shady companies recently, it isn’t applicable across the board. For example, Brokereo’s security measures leave no room for doubt about its validity.

The broker is located in Cyprus, which most experts agree to be the safest location for offshore brokers. It’s also the home of the prominent watchdog, CySEC, which regulates Brokereo, ensuring it functions fairly. Those that have been in the brokerage world for a while are well-acquainted with the name and aware of what it means. CySEC is a stringent regulator and leaves nearly no room for error on the broker’s end, lest it is willing to pay hefty fines. So on a technical level, the broker already provides significant evidence of its fairness.

Beyond that, the firm also holds up when you look at the less objective security features and qualities. For example, we mentioned its willingness to present information multiple times throughout our Brokereo review. There’s also the fact that most traders have positive impressions of the company, which is often a better indicator than the strictly technical ones.

The Trading Accounts

Brokereo’s account setup has about everything you’d wish for from an online broker. You can see this starting from its demo feature, which lets you experience the service without paying a dime. It’s also quite useful as a practice tool for less-experienced traders that might be intimidated by trading. It’s a nice bridge where you can gradually learn about the business without losing any actual funds.

As for the live accounts, they follow a tiered structure and start at the usual $250. There are three types of accounts aimed to please traders of three different investment levels. They follow the common naming scheme of following precious metals, with higher tiers named after more valuable ones. As such, the three levels are Silver, Gold, and Platinum.

There’s also a difference between retail and professional accounts, which is arguably more impactful than the one above. Retail clients have a set of risk-reducing features tied to their accounts, including limited leverage. On the other hand, professional accounts have access up to 1:500 leverage as well as some other luxury features. The two types make an apparent split between beginners and experienced traders, as their name would imply.

With Brokereo, there’s no explicitly right choice, as it all comes down to how comfortable you are with your funds and knowledge. As such, each trader should skip recommendations and decide for themselves. To help with that, we’d like to present some qualities of the different accounts:

Silver

• Max Fx leverage 1:30
• spread 1.0
• 300+ CFDs on assets
• Swap discount: None
• 24/5 support
• News alerts
• Fifth decimal
• Hedging ✓

Gold

• Max Fx leverage 1:30 (for retails), 1:500 (for pros)
• spread 0.4
• 300+ CFDs on assets
• Swap discount 25%
• Dedicated account manager
• News alerts
• Fifth decimal
• Hedging ✓

Platinum

• Max Fx leverage 1:30 (for retails), 1:500 (for pros)
• spread 0.3
• 300+ CFDs on assets
• Swap discount 50%
• Dedicated account manager
• News alerts
• Fifth Decimal
• Hedging ✓

Trading Conditions

As we stated multiple times through our Brokereo review, the firm specializes in CFD trading. In that, it’s quite capable, with high leverage and tight spreads to back it up. That means the broker gives traders everything they need to be successful in turning a profit. The account setup also lends to that, allowing traders to customize the service they receive. Brokereo doesn’t charge fees or commissions, meaning you get the full value of every dime you fund your account with.

The secondary trading features are also exceptional, with great funding options and security.

Brokereo Trading Platform 

The trading platform is another area in which the broker made a great choice, deciding to use MetaTrader4. As you’re probably aware, the software is the most prominent one on the market and the preferred choice for online traders. It’s no wonder the software maintained its top position for so long, as it remains relatively simple while providing unrivalled analytical capabilities. As such, it fits both complete beginners and industry veterans. Additionally, it comes in a browser and mobile forms, which increases accessibility and convenience.

Brokereo’s Trading Products

Throughout our Brokereo review, we pointed out the firm as a CFD-focused broker. It only provides CFD trading but does so on each major asset category. The total trading product count is also more than respectable, with the total count coming in at over 300. Here are the asset classes you can expect to see at Brokereo:

• Forex CFDs
• Stock CFDs
• Commodity CFDs
• Cryptocurrency CFDs
• Indice CFDs
• Metal CFDs

Customer Service

The support structure at Brokereo is exactly what you’d expect from a modern online brokerage. It has live chat, email, and phone line options, with the first two operating 24/5. The phone line operators have it a bit easier, only needing to work Monday-Friday from 08:00 to 17:00 GMT.

Phone: +448000318430

Email: [email protected]

Brokereo Review: Conclusion

Brokereo presents itself as a specific brokerage that justifies its specificity. Commonly, when a broker tries to fit a niche, it ends up not improving vastly over all-around brokerages. In those situations, most traders find more benefit in going with more diverse brokers. However, Brokereo creates an experience that fits the needs of CFD traders.

It has educational features, high leverage, and low spreads while remaining quite secure. On top of that, its account typing allows users to customize their experience, and its asset count is quite high.

The information above is for education purposes only and cannot be considered as investment advice. Past performance is not a reliable indicator of future results.