Review Brokereo
https://www.brokereo.com/ Headquarters in Cyprus Open Demo Account Open Live Account BEGIN item ContentsPros and ConsRegulationAccount TypesTrading PlatformsAvailable AssetsEducationSupportConclusion
Brokereo is an established online CFD broker that is owned and operated by Concorde Investment Ltd., with offices located in Cyprus. They also have licensing and regulation under the Cyprus Securities and Exchange Commission, offering their clients the necessary account segregation and negative balance protection as required by CySEC regulations.
Clients of Brokereo have the choice of three different account types with trading on over 300 different CFDs covering all the major asset classes, including the newest one – cryptocurrencies. Each account comes with its own unique set of features, and at the Platinum account traders can enjoy spreads that start as low as 0.3 pips.
The broker offers the MetaTrader 4 platform for trading, giving its clients one of the best platforms for technical analysis and trading. Clients can choose between the desktop, mobile, and web-based version of the application. There is plenty of research and educational materials available, and a solid team of support professionals is there to assist in any client needs on Monday through Friday from 8:00 AM to 5:00 PM GMT.
Brokereo Pros and Cons
Pros
Regulated by the Cyprus Securities and Exchange CommissionCommission-free trading on over 300 assetsMetaTrader 4 offered as the trading platform
Cons
Overnight swap rates are higher than average, although there are available discountsSpreads are also higher than averageClients not accepted from the USA
Broker Regulation
Brokereo is fully owned and operated by Concorde Investments (Cyprus) Ltd. With the parent company of the broker located in Cyprus, regulation comes under the jurisdiction of the Cyprus Securities and Exchange Commission. Brokereo is fully regulated by CySEC under license number 189/13.
Because the broker is CySEC regulated there are a number of benefits to clients. These include:
Segregation of client funds from company funds in tier 1 global banks.Negative balance protection for all retail clients.Member of Investor Compensation Fund, which provides up to 20,000 in the event of investor losses due to broker negligence.
In addition, the broker operates in full compliance with MiFID II directives, which allows them to offer their services to clients who are residents of the EEA member states.
Account types
At Brokereo clients can take advantage of three different levels of trading accounts: Silver, Gold, and Platinum.
The broker also offers demo accounts for testing the platform.
In the other hand they offer, Professional accounts that come with increased leverage, and Islamic accounts that are swap-free in accordance with Sharia law.
Each of the three account tiers has its benefits and features, as shown in the table below:
Opening an account is as easy as clicking the “Open Account” button on the broker’s website. The initial form can be filled out and submitted in under a minute, after which the client will need to submit documents to certify their identity and their address. Typically, the entire process can be completed in under 48 hours.
These requirements for documents to be submitted are to keep the broker in compliance with standard KYC and AML regulations.
Trading Platforms
Brokereo offers the award-winning MetaTrader 4 platform as its primary trading platform. Users can choose from the desktop version, the WebTrader, or the mobile version. All three offer more than 9 timeframes and 30 indicators, as well as the ability to fully customize charts. The WebTrader adds the benefit of no required download and the ability to launch the platform from any internet-connected device with a modern web browser.
Mobile Trading Platform
Clients who are always on the go will be pleased to know that Brokereo offers the MetaTrader 4 mobile platform, which can be installed for both the Android and iOS operating systems. Clients can download the Android version from the Google Play Store, and the iOS version from the Apple AppStore.
The MetaTrader 4 mobile trading app includes all the features found in the desktop and WebTrader but has the benefit of allowing clients complete mobility. Trade from anywhere you like if you have an internet connection.
Available Assets
At Brokereo clients can choose to trade from a collection of over 300 different assets from all the major asset classes, including cryptocurrencies, commodities, stocks, indices, and currencies. Below is just a small sampling of the assets available:
Brokereo offers commission-free trading and spreads for the offered assets vary based on the type of account opened and the asset that is being traded.
Overnight swap fees also vary depending on the asset being traded. Swap fees can be found in the trading platform by looking under the specification tab. Swap fees at the broker are somewhat higher than the standard industry average.
Education and Research
Research at Brokereo is provided through the trading platform for the most part, although the broker does also have its own daily news section on its website, as well as an economic calendar page and a corporate earnings page. Overall, the basics of research are covered, but traders will likely want to use third-party websites for deeper research.
Trader education at Brokereo is comprehensive, with the broker offering a full range of educational resources that include eBooks and tutorials as well as a video on demand section and stan-alone courses.
Here are some additional details regarding the educational offerings of the broker:
eBooks – Trading Psychology eBook, Capital Management eBook, Advanced Strategies eBook and more.
Courses – Trading Strategies, Beginners Course, Trading Tools, CFDs and Stocks and more.
Tutorials – MetaTrader tutorials and MetaTrader mobile tutorials.
Video on Demand – Beginners, Advanced, Terms and MetaTrader videos.
Customer Service
Customer service support is offered via live chat, telephone, email and web-based forms. The support team operates on Monday through Friday from 8:00 AM to 5:00 PM GMT. The customer service team is both professional and knowledgeable, and any questions are answered promptly and completely. If the customer service representative is unable to answer a question or resolve a situation it is referred to management for priority resolution.
Email: support@Brokereo.com
Phone: +448000318430
Webform: Contact Us Form or Contact Management Form
In Conclusion
Based on what we have seen while completing this review Brokereo is a good broker, with enough assets available to make them worthwhile for any trader. The CySEC regulation will keep traders safe, and the MetaTrader 4 platform will keep them happy as they trade.
Spreads are competitive and offset by a lack of commissions and fees at the broker. And while overnight swaps are higher than the industry average, that can also be offset by swap discounts that are available for the Gold and Platinum account types.
The broker has been in business for many years and judging by the fair conditions we can see why. Brokereo is a solid broker that seems trustworthy. Give them a try.
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