Trader. Online is an established broker that is owned and managed by an offshore holding company. It offers 200 different types of instruments for trading. The company comes with 24/7 customer support with great educational material.
Following, we will review this platform and see how it holds up.
Trader. Online is a Forex CFD broker. The trader was founded in February 2018. ZOLA LTD owns this broker. The address is 2nd Flood Pirotska, 4th Apartment Office 21, City of Sofia, Bulgaria. The company offers commodities, stock, indies, and cryptocurrency.
The company also offers metals including Silver, Gold, Copper, and Cryptocurrencies like Bitcoin, Litecoin, Dash, Ethereum, Golem, Zcash and others.
The company offers a new trading software, Tradologic CFD Forex Trading Software. It deals all major currency pairs. The underlying assets listed on Indexes, Stocks, Commodities, and Futures. Minimum deposit is $250.
The company offers several accounts including a Take-Off Account, Boost Account, and Uplift Account. Users can start trading with only 5$ or even less.
- Uncompetitive Spreads
EUR/USD spread on Trader. Online is fixed at 2 Pips. This is higher than usual. It also offers a second web-based platform, Simplex. The company should be taking 0.1%. This means when the user trades, one standard is 100,000 base currency units. The commission will be 100 USD or 10 pips.
It suggests the user is dealing with ten pips, which is very high. Almost every other broker offers a tighter spread.
- No Regulations
Trader. Online is a subsidiary of Zolarex; it is based on the Marshall Islands, the company is not supervised by the Bulgarian Financial Supervision Commission (FSC). The company says its licensed, but the fact is otherwise. FSC has no records of trader online, and we are surprised the company didn’t fix it.
- Doesn’t Support MetaTrader 4
The company offers two web-based trading platforms, Forex and Simplex. This lacks important features like MetaTrader 4. For instance, if the user runs an automated trading session. It works with designed trading bots. These bots can be modified on a proprietary scripting language, including MQL4.
This gives complete control to the broker, not user.
Trader. Online is not a regulated broker. This is an offshore broker which offers high spreads. It doesn’t offer any MetaTrader 4, a secured trading platform.
The broker is new and doesn’t offer anything promising. We hope the company offers something solid or it won’t survive in the market.