Ciscotrades Spreads, leverage, minimum deposit Revealed

WikiFX | 2021-11-23 19:30

Abstract：CiscoTrades is s forex brokerage whose website isnt very informative. Many important details regarding the trading conditions and the company behind the operation appear to be missing. CiscoTrades operates without any license and its parent company was blacklisted by the financial authorities in Spain.

　　General Information & Regulation

　　CiscoTrades is s forex brokerage whose website isnt very informative. Many important details regarding the trading conditions and the company behind the operation appear to be missing. CiscoTrades operates without any license and its parent company was blacklisted by the financial authorities in Spain.

　　Markets Instruments

　　CiscoTrades advertises that it offers forex currency pairs, commodities, indices, stocks.

　　Minimum Deposit

　　CiscoTrades offers 3 different account types to its clients – Silver, Gold and VIP. The information about the accounts doesnt say, however, what the minimum initial deposit for each account is. However, when you open a trading account and click on the deposit button, the minimum amount for a deposit that shows is $100. The minimum withdrawal amount is the same – $100.

　　Leverage

　　CiscoTrades provides leverage of up to 1:200, and this would be enough for most traders. Although this is not generous, traders should take care to use it as leverage can double returns as well as potential risks.

　　Spreads & Commissions

　　From the bid/ask price for this currency pair, we can calculate that the spread is 4.2 pips. We must say that such spread will be to a great disadvantage to the traders as they wont be able to achieve sustainable profit in the long run.

　　Inactivity Fee

　　Accounts that stay inactive for 6 months will be considered dormant and a fee of $25 will be charged for every month.

　　Trading Platform Available

　　CiscoTrades appears to use some web-based trading interface instead of the beloved Metatrader 4 platform. It has become an industry-standard due to its sophisticated, yet simple-to-use features and the EAs used for automated trading.

　　Deposit& Withdrawal

　　The payment methods, as per the information on the website, include VISA, MasterCard, electronic wallets or wire transfer. There are no deposit or withdrawal fees. The typical withdrawal processing time is given to be up to 5 business days.