GARNET TRADE
Abstract：GARNET TRADE is an ASIC-licensed broker that provides electronically traded products including equities, CFDs, energies, metals, and Forex worldwide. The broker also provides various accounts with up to 500x max leverage and 24-hour customer support. Traders can access MT5 through GARNET TRADE.
| GARNET TRADEReview Summary | |
| Founded | 2022-11-21 |
| Registered Country/Region | Macedonia |
| Regulation | Regulated(ASIC), Offshore Regulates(MISA) |
| Market Instruments | Forex, Commodities, Stocks, Indices, Cryptocurrencies, Precious metals |
| Demo Account | ✅ |
| Leverage | Up to 1:500 |
| Spread | From 0.1 pip |
| Trading Platform | MT5(Smartphones, MacOS, Window), Garnet Plus(Windows, Mobile) |
| Min Deposit | 100 USD |
| Customer Support(24/7) | Facebook, Twitter, Instagram, YouTube |
| Email: info@garnet-trade.com | |
GARNET TRADE Information
GARNET TRADE is an ASIC-licensed broker that provides electronically traded products including equities, CFDs, energies, metals, and Forex worldwide. The broker also provides various accounts with up to 500x max leverage and 24-hour customer support. Traders can access MT5 through GARNET TRADE.
Pros and Cons
| Pros | Cons |
| Regulated(ASIC), Offshore Regulates(MISA) | Unspecific swap information |
| Leverage up to 1:500 | |
| Spread as low as 0.1 pip | |
| Mt5 available | |
| 24/7 customer support |
Is GARNET TRADE Legit?
GARNET TRADE is authorized and regulated by the Australia Securities & Investment Commission(ASIC), with License No. is 001305577 and the License Type is Appointed Representative(AR), making it safer than unregulated.
Mwali International Services Authority(MISA) offshore regulates GARNET TRADE with license number T2023429 and License Type Retail Forex License.
What Can I Trade on GARNET TRADE?
GARNET TRADE offers the advantage of bidirectional trading on over 160 instruments, including global stocks, country indices, currency pairs, energy, precious metals, and cryptocurrencies.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Stocks | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| Precious metals | ✔ |
Account Type
GARNET TRADE has five account types: Beginner, Standard, Prime, ECN, and Zero. Traders who want low leverage can choose a Beginner account, while those with a sufficient budget can open a Zero and ECN account.
In addition, the demo account is predominantly used to familiarize traders with the trading platform and for educational purposes only.
| Beginner | Standard | Prime | ECN | Zero | |
| Minimum Deposit | 100 USD | 1.500 USD | 5.000 USD | 10.000 USD | 10.000 USD |
| Available Base Currencies | USD, EUR, GBP, AUD | ||||
| Spreads | 0.9 pip | 0.7 pip | 0.5 pip | 0.1 pip | 0.1 pip |
| Maximum Leverage | 1:100 | 1:300 | 1:300 | 1:500 | 1:500 |
| Minimum Lot | 0,01 | 0,01 | 0,01 | 0,01 | 0,01 |
| Commission | Free | Free | Free | Free | Free |
GARNET TRADE Fees
The spread starts at 0.1 pip, and the commission is free. The lower the spread, the faster the liquidity.
Leverage
The maximum leverage is 1:500 meaning that profits and losses are magnified 500 times.
Trading Platform
Traders can conduct financial activities in MT5 available on Smartphones, MacOS, and Windows through GARNET TRADE. MT5 provides various trading strategies and implements EA systems. GARNET TRADE also offers Windows and Mobile versions of its proprietary platform.
Copy trading is also available, a way for inexperienced traders or followers who dont have the time to do extensive research or want to diversify their portfolio to copy the trades of experienced traders (also known as money managers or copy trading gurus).
| Trading Platform | Supported | Available Devices | Suitable for |
| MT5 | ✔ | Smartphones, MacOS, Window | Experienced traders |
| Garnet Plus | ✔ | Windows, Mobile | All |
Deposit and Withdrawal
The first deposit amount must be 100 USD or above. GARNET TRADE accepts Skrill, NETELLER, VISA, MasterCard, and more for deposit and withdrawal. Withdrawal processing time is within 1 hour.
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