EnterTrade

Overview

EnterTrade, an unregulated broker headquartered in Saint Vincent and the Grenadines, presents a concerning landscape for potential investors and traders. Operating without regulatory oversight, the company lacks essential investor protections, transparency, and accountability. With reported challenges in accessibility and responsiveness of customer support, clients may find themselves facing obstacles when seeking assistance or resolution of issues. Additionally, the high maximum leverage of up to 1:500 amplifies the risk associated with trading, potentially exposing traders to significant losses. While EnterTrade offers a range of tradable assets and the MT5 platform, these positive aspects are overshadowed by the overall lack of regulatory safeguards and customer support deficiencies.

Regulation

EnterTrade is an unregulated broker, which means it operates without oversight from financial regulatory authorities. This lack of regulation raises several concerns for potential investors and traders:

1. Limited Investor Protections: Unregulated brokers like EnterTrade may not segregate client funds, potentially putting investors' money at risk.

2. Lack of Transparency: These brokers often lack transparency in their operations, making it difficult for clients to assess their financial stability and integrity.

3. Complaint Resolution Challenges: Clients may have limited options for resolving disputes or complaints with unregulated brokers.

4. Market Manipulation Risks: Unregulated brokers may engage in questionable trading practices, such as market manipulation, which can lead to significant losses for clients.

5. Legal Recourse Difficulties: Pursuing legal action against unregulated brokers can be challenging due to their operating in jurisdictions with lax oversight.

6. Weak Risk Management: Unregulated brokers may lack robust risk management systems, increasing the potential for substantial losses.

7. Financial Stability Concerns: The absence of capital requirements for unregulated brokers can raise doubts about their financial stability.

Pros and Cons

EnterTrade presents a mix of positive and negative aspects for potential investors and traders. On the positive side, the broker offers a wide variety of trading instruments, a clear audition process for aspiring traders, and the flexibility of leverage options. The availability of the MT5 trading platform, opportunity for funded trading accounts, and inclusive affiliate program are also noteworthy.

However, the negatives outweigh the positives. EnterTrade operates as an unregulated broker, raising concerns about investor protections, transparency, and accountability. This lack of regulation can expose clients to risks such as market manipulation and challenges in resolving disputes. Customer support is a significant weak point, with reports of difficulties in accessibility and responsiveness, leading to dissatisfaction among traders.

In conclusion, while EnterTrade provides certain attractive features, the lack of regulatory oversight, coupled with deficiencies in customer support, significantly diminishes its appeal as a reliable and secure broker for investors and traders.

Market Instruments

The broker offers a wide variety of trading instruments across different asset classes to cater to the diverse needs of traders. These market instruments include:

1. Forex (Foreign Exchange): Traders can access and trade 70 major, minor, and exotic currency pairs. Forex trading provides opportunities to speculate on the exchange rates between different currencies, allowing traders to profit from currency price movements.

2. Metals: The broker offers trading in precious metals like Gold, Silver, and Platinum. Metals are often considered safe-haven assets and can serve as a hedge against economic uncertainty.

3. Indices (Index CFDs): Traders can access major and minor Index CFDs from various global markets. Indices represent the performance of a group of stocks and provide a broader view of a particular market or sector.

4. Cryptocurrencies: The broker provides the option to trade major cryptocurrencies. Cryptocurrencies, such as Bitcoin and Ethereum, have gained popularity as speculative assets and digital stores of value.

5. Shares: Opportunities are available for trading UK and US Crude Oil, as well as Natural Gas. These energy commodities are crucial in global markets and can be influenced by geopolitical events and supply-demand dynamics.

6. Commodities: Traders can also access CFD futures on a range of global commodities. Commodity trading includes products like oil, gas, agricultural goods, and more, making it possible to profit from price movements in these physical assets.

Here is a detailed table summarizing the market instruments offered by the broker:

This comprehensive range of trading instruments allows traders to diversify their portfolios and take advantage of various market opportunities across different asset classes. It caters to both novice and experienced traders looking to participate in the global financial markets.

Audition Process

At EnterTrade, they are committed to ensuring accessibility and accommodating specific needs during auditions. The audition process consists of three phases:

1. EnterTrade Challenge:

   Candidates must succeed in the EnterTrade Challenge to progress further. They are required to showcase their trading and risk management skills and meet specific requirements.

2. Validation:

   Once candidates pass the EnterTrade Challenge, they enter the Validation phase. During this stage, their results undergo meticulous validation. Upon approval, candidates receive offers to join EnterTrade as proprietary traders.

3. EnterTraders:

   As EnterTrade proprietary traders, individuals handle real accounts with balances of up to $2,000,000. They are encouraged to trade sensibly and consistently to earn profit shares of up to 85/15.

The process is designed to be inclusive, providing equal opportunities to all aspiring traders. Their journey begins at EnterTrade, where skills and dedication are duly rewarded.

Trading goals

To become an EnterTrade Career Trader, it's essential to understand and meet specific trading goals that demonstrate your ability to manage risks effectively and trade successfully. These trading goals are designed to provide flexibility while ensuring responsible trading practices. Here are the key trading goals and their respective phases:

Phase 1: EnterTrade Challenge

• Balance: Select from various starting balances ranging from $5,000 to $300,000.

• Trading Duration: 30 days.

• Minimum Trading Days: Trade for at least 5 days.

• Maximum Daily Loss (Drawdown): Limit daily losses to 5%.

• Maximum Total Loss (Drawdown): Restrict total losses to 10%.

• Profit Goal: Aim for an 8% profit.

• Audition Fees: $45 (Refunded upon becoming an EnterTraders).

Phase 2: Validation

• Trading Duration: Another 30 days.

• Minimum Trading Days: Maintain the requirement of at least 5 days.

• Maximum Daily Loss (Drawdown): Continue with a 5% daily loss limit.

• Maximum Total Loss (Drawdown): Retain the 10% total loss limit.

• Profit Goal: Adjusted to 5%.

• Audition Fees: Free.

Phase 3: EnterTraders

• Trading Duration: Lifetime.

• Minimum Trading Days: Maintain the 5-day trading minimum.

• Maximum Daily Loss (Drawdown): Sustain the 5% daily loss limit.

• Maximum Total Loss (Drawdown): Continue with the 10% total loss limit.

• Profit Goal: No specific profit goal.

• Audition Fees: Refunded upon becoming an EnterTraders.

These trading goals are structured to assess your risk management and trading skills progressively. They allow you the freedom to use various trading strategies while ensuring responsible trading practices. Successful completion of these goals qualifies you as an EnterTrade Career Trader, opening the door to a lifetime of trading opportunities.

Leverage

This broker offers a maximum trading leverage of up to 1:500. Leverage allows traders to control larger positions with less capital. However, it amplifies both profits and losses. Traders of all experience levels can use this high leverage, but it emphasizes the importance of disciplined trading to manage the increased risk effectively.

Other Features

1. Pass the Audition, Get Funded: EnterTrade offers a clear path for traders to embark on a rewarding career. Successfully passing the audition grants access to funded trading accounts within the firm, allowing traders to trade with company capital and withdraw their profits.

2. Welcome All Styles: The platform accommodates a wide range of trading styles, including swing trading, day trading, scalping, and more. EnterTrade values traders who prioritize secure risk management in their strategies, recognizing and rewarding their efforts.

3. Additional Balance: Traders who demonstrate consistency and profitability have the opportunity to request an increase in their account balance. This allows them to maximize their trading potential and capitalize on market opportunities.

4. Hold Trades Over the Weekend: EnterTrade provides traders with the flexibility to hold positions over the weekend. Trading is not restricted by specific hours, offering the freedom to adapt to various market conditions.

5. Reliable Payouts: Traders can expect monthly payouts based on profit sharing, with profit splits ranging from 75% to 85% of the generated monthly profits. This system ensures that traders are duly rewarded for their success.

6. Trade Remotely: Geographical location is not a limitation. Traders can operate from anywhere in the world, as long as they have internet access and can consistently demonstrate their trading performance.

7. Dedicated, Friendly Support: EnterTrade provides round-the-clock support, with a dedicated and friendly team ready to address any questions or concerns. Traders can reach out at any time, ensuring a supportive and responsive trading environment.

Deposit & Withdrawal Process

Deposits:

To fund your trading account with EntreTrade, you can initiate a deposit through the provided methods in your Members Area. The process is simple and allows you to start trading once the funds are credited to your account.

Withdrawals:

Withdrawing your profits is straightforward. You can request a withdrawal when profit is assigned to your account, typically within 5 working days after each trading interval. The necessary details and options for withdrawal can be found in your Members Area.

EntreTrade prioritizes a hassle-free and efficient deposit and withdrawal process, ensuring that traders can access their funds promptly and conveniently.

Trading Platforms

MT5 is EntreTrade's versatile and advanced trading platform, offering numerous features:

1. Multiple Assets: Trade various asset classes like Forex, stocks, commodities, indices, and cryptocurrencies.

2. Advanced Charts: Access a range of charting tools and indicators for in-depth analysis.

3. Algorithmic Trading: Develop and automate trading strategies with Expert Advisors (EAs).

4. Market Depth: View order book data to assess instrument liquidity.

5. Economic Calendar: Stay updated on market-moving events.

6. One-Click Trading: Swiftly execute trades with a single click.

7. Mobile and Web Access: Trade on-the-go with mobile and web versions.

8. Security: Benefit from advanced security measures.

9. Community Marketplace: Connect with traders and access trading tools.

Affiliate Program

The EnterTrade Affiliate Program presents a lucrative opportunity for you to earn substantial commissions. By promoting EnterTrade within your network, you gain access to a range of exclusive perks designed just for you:

1. Connect with EnterTrade 1-1: As an affiliate, you can establish direct connections with EnterTrade, enabling personalized interactions and support tailored to your needs.

2. Attend Special Events: Enjoy exclusive access to special events, providing valuable insights and networking opportunities within the trading community.

3. Earn Exclusive Bonuses All Year Round: Affiliates receive special bonuses throughout the year, enhancing your earnings potential beyond standard commissions.

4. Get Firsthand Announcements and News: Stay informed with early access to important announcements and market news, keeping you ahead of the curve.

5. Access to Beta Testing: Participate in EnterTrade's beta testing programs, allowing you to explore new features and tools before they're rolled out to the broader audience.

6. Share Exclusive Promos with Your Audience: Extend exclusive promotions and offers to your audience, providing added value and incentives for them to engage with EnterTrade.

The EnterTrade Affiliate Program not only offers lucrative commissions but also provides a range of privileges to enhance your trading experience and expand your network. It's a win-win opportunity for both you and your contacts.

Customer Support

Traders have voiced their frustration regarding EntreTrade's customer support, citing significant difficulties in reaching them. This persistent issue has led to a growing sense of dissatisfaction among clients. Unfortunately, EntreTrade's customer support has fallen short of providing the expected level of accessibility and responsiveness.

Despite repeated concerns raised by traders, EntreTrade's response to this problem has been inadequate. The prolonged delays and lack of effective communication channels have left clients feeling neglected and dissatisfied with the support services provided.

Traders are increasingly frustrated by the apparent indifference to their needs and concerns. EntreTrade must urgently address this issue and take concrete steps to improve their customer support to rebuild trust and satisfaction among their clients.

Summary

EnterTrade operates as an unregulated broker, prompting concerns about investor protection and transparency. However, it offers a diverse array of trading instruments, including Forex, metals, indices, cryptocurrencies, shares, and commodities.

The audition process for aspiring traders is comprised of three phases, culminating in becoming EnterTrade Career Traders with various benefits. The broker provides leverage of up to 1:500, emphasizing disciplined trading.

Traders can enjoy remote trading, reliable payouts, and access to the MT5 trading platform with advanced features. EnterTrade's Affiliate Program offers enticing commissions and exclusive perks.

Notably, customer support has faced criticism for being challenging to reach, affecting overall client satisfaction. Addressing these concerns is vital for enhancing the trading experience at EnterTrade.

FAQs

Q1: Is EnterTrade a regulated broker？

A1: No, EnterTrade operates as an unregulated broker, which means it lacks oversight from financial regulatory authorities.

Q2: What trading instruments are available at EnterTrade？

A2: EnterTrade offers a diverse range of trading instruments, including Forex, metals, indices, cryptocurrencies, shares, and commodities.

Q3: How can I become a trader at EnterTrade？

A3: To become a trader at EnterTrade, you need to pass the audition process, which includes the EnterTrade Challenge and Validation phases. Successful candidates are offered careers as proprietary traders.

Q4: What is the maximum leverage offered by EnterTrade？

A4: EnterTrade provides a maximum trading leverage of up to 1:500, allowing traders to control larger positions with less capital.

Q5: Is customer support easily accessible at EnterTrade？

A5: Traders have reported difficulties in reaching EnterTrade's customer support, which has led to concerns about accessibility and responsiveness. Efforts to improve this aspect are essential for enhancing the overall client experience.