Tradevtech Review — How Reliable is the Broker?
If you are a Forex, Stock, or Crypto trader, you may be wondering which trading platform is best for you. While there are a thousand and one platforms for trading out there, this article will be reviewing just one of them — tradevtech.net. The article also highlights this broker's features that make it a reliable plug for financial experts and traders.
What is Tradevtech?
Tradevtech is a platform that allows registered users to trade cryptocurrencies, stocks, indices, and commodities. In other words, it is a reliable broker that bridges the financial markets with individuals.
Tradevtech opens a trading account for and on the Trader's name subject to the Trader's registration with the platform. Traders need to provide complete and accurate personal information while opening an account with the platform. A valid identification document such as an international passport, a copy of a credit card, or any other government-issued identification certificate is required to register an account on the platform successfully. This helps prevent unauthorized individuals from operating on the platform and limits fraudulent activities.
A trader may decide to conceal the credit card number during the verification process except for the last four digits. The Trader may also hide the CVV code behind the card. However, a valid proof of address and a government ID or other utility bill must be submitted to the platform for a successful trading experience.
You can't transfer or assign another person to use the license or act on your behalf. Also, you are not permitted to share the username and password of his account with another individual.
If you are less than 18, I have some bad news for you. Like every other trading platform, the platform only permits individuals 18 years of age and above to open an account and trade. This is in no way discriminatory. Users who are less than 18 but wish to trade on the platform can do so under the guidance and supervision of an adult, preferably a parent or trusted guardian.
Tradevtech Trading Services
Tradevtech is designed for both trading experts and beginners. The platform gives beginners the benefit of copying trades from other experts. A beginner can view the trading history of various experts, the profits, and the loss within a time frame and then decide whether to copy the Trader or not. However, Tradevtech can not be held responsible if the Trader incurs losses.
Alternatively, an individual can decide to trade independently if he wishes to. Tradevtech offers Forex pairs such as USDGBP USDCAF. EURUSD, XAUUSD and so forth. Once funds have been deposited into the account, transactions are executed swiftly, with an average execution rate of 0.02 seconds.
The platform enables trading in exchange rates of different currencies, and CFDs of various financial instruments are available on Tradevtech. There are ask and bid prices for performing transactions in financial instruments based on prices received from different financial information systems. For determining the trading prices, the platform makes mathematical calculations. These calculations are based on known and accepted formulas and are not biased or manipulated to suit Tradevtech.
Trading fees is one of the features that traders pay attention to before using a broker or an exchange. Trading fees and spreads must remain low on any trading platform. On Tradevtech, there is no fee to withdraw and deposit via credit cards. This is a huge advantage. However, Tradevtech charges a fee for executing transactions on several Financial Instruments. The fee is not constant. It varies according to the Client classification by the Company. The fees charged are very modest and will hardly burden any trader.
Tradevtech also derives revenue from the spread of transactions. The spread is the difference between buy/sell price quotes offered by the platform to the Trader. The spread is usually lower at certain times of the day when there is more volatility or more active traders on the platform.
There are accounts called Islamic accounts. This account may incur a higher transaction fee if the Trader holds a position for more than two days. Each third night from the transaction opening, the client's account is charged a commission of the spread amount of the open transaction.
There is also a commission for withdrawals. The commission value depends on the payment method selected by the user. The fee is usually between 25–50 euros for every wire transfer. This fee is absent when depositing via a credit or debit card.
When a trading account is inactive for a relatively long period or if the client does not hold the required minimum amount of funds in his trading account as determined by Tradevtech from time to time, an administrative fee of 5% or 25Euros or USD is charged from the Trader's account. The time which will classify the Trader's account as inactive is calculated from the date of closing the last transaction in the Trader's account. This is one of the downsides of Tradevtech.
Tradevtech's API is brilliant and makes it easy for users of the platform to access data in real-time. The Feed APIs are public and can provide access to live market data. On the other hand, the Trading APIs give access to account information like placing orders and other account-related details.
There are limits to how much one can deposit and withdraw on Tradevtech. The limits vary, and different levels of KYC verification have different limits. Upon completing all the steps required for verification, the limits to depositing and withdrawing on the platform are increased.
On Tradevtech, traders can trade stocks, forex, cryptocurrencies, commodities, and indices. To this effect, various portfolios are available for traders to use. In each of the trading sections, traders have a variety of portfolios to trade their commodities or currencies.
Cryptocurrencies Available on Tradevtech
Currently, Bitcoin is the only cryptocurrency available and tradeable on Tradevtech.com. Other cryptocurrencies may be added in due time given the mass adoption and increase in popularity of cryptocurrencies over the years. Also, since more cryptocurrencies have a solid foundational background, it is expected that there will be options for trading them on the website in due time.
Tradevtech Security and Privacy
The personal information provided by traders is only used to open an account and cannot be used for any other purpose. The European Union laws and regulations protect the personal data of traders on the platform. All data shared with Tradevtech is processed via a safe connection. Security measures are in place to protect personal data, including physical, electronic, and procedural standards.
However, if a user wishes to change his information, he may contact customer support to update or delete his personal data at any time.
Users can delete the data they share with Tradevtech from their accounts. Users can also delete their accounts whenever they wish to. All the user needs to do is send a request for deleting the data. The data shared with the platform may not be deleted instantly. It may take a reasonable amount of time for the request to be granted and effected.
Due to Tradevtech's services and relations with customers, the platform holds some information regarding traders on its databases. All data collected, whether kept in physical or computerized form, are safeguarded by Tradevtech in such an order that protects users' privacy. Also, access to the information is restricted according to the need to provide services to the Trader.
However, Tradevtech is permitted to use and disclose the trader information for internal use with affiliated entities and service providers required for the provisions of service to the Trader. The traders' data may also be disclosed in a method that is permitted or required by law. Trader information may also be disclosed to protect against potential fraud or unauthorized transactions or behavior. In the case of computerized supervision over the Trader's use of the services, the Trader's information may be used or disclosed.
Account balances and statements are displayed on the website. The Trader may review open transactions and the state of the Margin funds by accessing the trading account. Users or traders may also decide to review reports created by Tradevtech. However, the broker does not send printed messages to traders.
It is also vital that traders check on their trading accounts and statements regularly. In case of any discrepancy, traders can report the issue to Tradevtech. However, if traders raise no objections about their monthly reports, it will be considered accurate and acceptable by the traders.
Tradevtech Customer Support
Every solid trading platform and broker must have reliable customer support. Issues, requests, and complaints are unavoidable. Customers will always have one or two questions, requests, and complaints. Tradevtech has reliable customer support. At the moment, customer service can be reached via email or telephone. However, all phone calls must be made within working hours. Emails on the other hand can be sent at any time of the day, and a member of the team usually replies within 24 hours.
Various instruments and currencies can be traded on Tradevtech. This is a great edge for the platform. The platform can also increase the number of crypto assets available for trading. More stock commodities can equally be added to the platform.
The platform also has other beautiful features like leverages and margins for experienced traders who wish to expand their position size in the financial market. Tradevtech is a reliable broker that every Trader of the stock, forex, indices, crypto, and commodity markets can use.
Just like any other broker, Tradevtech has its pros and cons. The platform's ease of use and its fantastic user interface makes it easy for beginners to trade on the platform. Its active customer support is another feature that makes the broker great to use. However, some fees charged by the venue, which are either lesser or even absent on other brokers, make Tradevtech come second to some of its competitors.