Seventy Brokers

Overview of Seventy Brokers

Seventy Brokers, founded in 2021 and registered in Vanuatu, is a trading platform offering diverse market instruments and high leverage.

Seventy Brokers offers diverse account types to tradable assets including cryptocurrencies, forex, commodities, and stocks, Seventy Brokers to ensure versatility in users' trading portfolio. Operating on the powerful MetaTrader 5 platform, it provides real-time data, competitive spreads starting from 0.1 pips, and accessible deposit methods, including credit cards, debit cards, bank transfers, and e-wallets.

Although educational resources are limited, Seventy Brokers' commitment to empowering traders, combined with its responsive customer support via phone and email, makes it a valuable choice for traders of all levels seeking diverse trading opportunities.

Is Seventy Brokers legit or a scam？

Seventy Brokers' regulatory status is currently labeled as “Unauthorized” by the National Futures Association (NFA), a regulatory agency based in the United States. The company operates with a “Common Financial Service License,” and its licensing institution is “SEVENTY INVESTECH CO LIMITED.” The license number provided is 0515151.

Pros and Cons

Seventy Brokers offers a range of advantages. Firstly, it provides a diverse array of market instruments, enabling traders to access various financial markets. Additionally, the platform offers MetaTrader 5, a powerful and widely recognized trading platform. Multiple account types cater to different trading preferences and strategies.

However, there are certain drawbacks to consider. Seventy Brokers lacks proper regulation, which may raise concerns about the platform's reliability. Educational resources are limited, potentially hindering the learning experience for traders.

Market Instruments

Seventy Brokers caters to a broad spectrum of traders by offering a diverse selection of market instruments. These include cryptocurrencies, forex currency pairs, commodities like gold and oil, and even traditional stocks.

1. Forex (Foreign Exchange): Traders can engage in Forex trading, with major and minor currency pairs, allowing them to participate in the largest and most liquid financial market globally.

2. Commodity Trading: The platform offers opportunities to trade in commodities, including precious metals like gold and silver, as well as energy commodities like oil.

3. Stocks: Traders can access the equity market and trade stocks, enabling them to invest in companies and benefit from price fluctuations.

4. Indices: Indices trading allows traders to speculate on the performance of market indices, providing exposure to broader market movements.

5. Cryptocurrencies: For those interested in digital assets, Seventy Brokers provides access to a range of cryptocurrencies, enabling traders to invest in Bitcoin, Ethereum, and more.

These diverse asset classes are available across multiple account types, each offering its own leverage, minimum deposit requirements, and spread characteristics. From the X-leverage Account to the Premium Integrated Account and beyond, traders can choose the account type that aligns with their trading preferences and risk appetite.

Account Types

Seventy Brokers presents a selection of account types designed to cater to a wide range of trader preferences and strategies. The available account options include the X-leverage Account, CFD Clearing Account, Premium Integrated Account, Stock CFD Account, and Integrated Account BTC Based. Each account type offers distinct features to accommodate traders with varying needs.

For instance, the X-leverage Account provides an accessible entry point with a minimum deposit of USD 100. In contrast, the Premium Integrated Account offers a higher leverage of 1:80 and requires a minimum deposit of USD 10,000 for traders seeking an elevated trading experience. The Stock CFD Account, on the other hand, targets those interested in trading a diverse range of assets, with a minimum deposit of USD 2,000 and a competitive spread of 0.08%.

These account types cater to traders interested in forex, commodities, stocks, indices, and cryptocurrencies, offering a versatile range of products to trade. Whether you're a novice trader or an experienced one, Seventy Brokers' account types provide flexibility and choices that enable you to align your trading strategy with your specific requirements and objectives.

How to Open an Account？

1. Visit the Seventy Brokers Website: Start by accessing the official Seventy Brokers website using your web browser.

2. Click on “Register” or “Sign Up”: Look for the “Register” or “Sign Up” button on the homepage and click on it to begin the registration process.

3. Provide Personal Information: Fill out the registration form with your personal details, which may include your full name, date of birth, email address, phone number, and residential address.

4. Select Account Type: Choose the type of trading account that suits your needs and trading preferences. Options typically include Standard, Premium, or other variations.

5. Create a Strong Password: Set a secure password for your account. Ensure it meets the platform's password requirements, which often include a combination of uppercase letters, lowercase letters, numbers, and special characters.

6. Accept Terms and Conditions: Carefully read and agree to the terms and conditions, privacy policy, and any other legal agreements presented by Seventy Brokers.

7. Verification and KYC (Know Your Customer): Complete the KYC process by providing necessary identification documents, such as a government-issued ID (passport or driver's license), and proof of address (a recent utility bill or bank statement).

After successfully completing these steps, your Seventy Brokers account should be open and ready for you to fund and start trading.

Leverage

Seventy Brokers offers a range of account types, each with its unique spread characteristics and leverage options. Leverage varies with options such as 1:50, 1:80, and 1:100, allowing traders to choose accounts that align with their trading preferences and risk tolerance.

Spreads &Commissions

Seventy Brokers offers a variety of account types, each with its own spread specifications. The spreads for these accounts are as follows: X-leverage Account with a minimum spread of 0.2 pips, CFD Clearing Account with a minimum spread of 0.2 pips, Premium Integrated Account with a minimum spread of 0.1 pips, Stock CFD Account with a minimum spread of 0.08%, Integrated Account BTC Based with a minimum spread of 0.05%, and Integrated Account with a minimum spread of 0.2 pips. These varying spreads cater to diverse trading strategies, allowing traders to choose the most suitable option for their needs.

Trading Platform

Seventy Brokers offers its traders a cutting-edge trading experience through the renowned MetaTrader 5 (MT5) platform. This platform is recognized globally for its advanced features, robust capabilities, and user-friendly interface, making it a preferred choice for both novice and experienced traders.

Key Features:

1. Multi-Asset Trading: With MT5, traders can access a wide range of financial instruments, including Forex, commodities, stocks, indices, and cryptocurrencies, all from a single platform. This diverse asset selection enables diversification and flexibility in trading strategies.

2. Advanced Charting Tools: MT5 provides an extensive array of technical analysis tools and indicators, empowering traders to conduct in-depth market analysis. Customizable charts and timeframes further enhance precision in decision-making.

3. Algorithmic Trading: For traders interested in automated strategies, MT5 supports algorithmic trading through Expert Advisors (EAs). These EAs can execute trades on your behalf based on predefined criteria, allowing for hands-free trading.

Deposit & Withdrawal

Seventy Brokers offers a variety of deposit and withdrawal methods, including credit cards, debit cards, bank transfers, and e-wallets.

Here are the deposit and withdrawal methods along with their associated fees organized in a table format:

Seventy Brokers offers a range of account types to cater to traders with varying financial capacities. The minimum deposit requirements for each account type are as follows:

• X-leverage Account: USD 100

• CFD Clearing Account: Negotiable

• Premium Integrated Account: USD 10,000

• Stock CFD Account: USD 2,000

• Integrated Account BTC Based: BTC 0.005

• Integrated Account: USD 100

There is also a difference in average transfer time for different deposit methods. While credit/debit card and e-wallet transfers are usually instant, bank transfers may take 2-3 business days to arrive.

Customer Support

Seventy Brokers offers customer support through phone (+1 (856) 421-5844) and email (info@seventybrokers.com). However, some users have reported varying response times, which could be an area for improvement.

Educational Resources

As of the present, it's worth noting that Seventy Brokers falls somewhat short when it comes to the provision of comprehensive educational resources, including tutorials and guides. This assessment highlights an opportunity for potential improvement that could be beneficial to traders who are eager to broaden their knowledge and skills within the platform.

Educational resources play a pivotal role in a trader's journey towards proficiency and success. They serve as invaluable tools that facilitate the understanding of trading concepts, platform functionalities, and market dynamics. Furthermore, tutorials and guides empower traders to make informed decisions and navigate the intricacies of the financial markets more effectively.

Conclusion

In conclusion, Seventy Brokers is a trading platform offering diverse market instruments and high leverage. The platform provides a diverse array of market instruments, enabling traders to access various financial markets. Additionally, the platform offers MetaTrader 5, a powerful and widely recognized trading platform.

However, Seventy Brokers' regulatory status is currently labeled as “Unauthorized” by NFA, and it presents attractive trading opportunities, limited educational resources, and reported issues with customer support may give potential traders pause. As with any trading platform, thorough research and careful consideration of your risk tolerance are paramount before engaging with Seventy Brokers.

FAQs

1. Is Seventy Brokers regulated？

1. No, Seventy Brokers' regulatory status is currently labeled as “Unauthorized” by NFA.

2. What account types does Seventy Brokers offer？

1. Seventy Brokers provides six account types:

3. How can I contact Seventy Brokers' customer support？

1. You can reach customer support via phone at phone (+1 (856) 421-5844) and email (info@seventybrokers.com)

4. What trading platform does Seventy Brokers use？

1. Seventy Brokers utilizes the MetaTrader 5 trading platform.

5. What deposit and withdrawal methods are available on Seventy Brokers？

1. Seventy Brokers offers various methods, including credit cards, debit cards, bank transfers, and cryptocurrencies.