Brokers Station Review - insightstrader
Member Login

Brokers Station Review

Brokers Station Review

 

Brokersstation is a company that has been listed on the London Stock Exchange in the AIM Section. The firm is among the safest and most efficient brokerage companies as it makes use of various regulations that are essential for any thriving and reliable trading in the Forex market. The company believes in the appropriate use and application of the stipulated rules in trading with its clients’ funds and, as a result, it has gained the reputation as one of the most trustworthy companies in the market.

Other than regulations, there are also several other factors that come into play when it comes to trading in stocks. The most relevant has to do with the costs associated with trading. There are two types of costs of trading including commissions and spreads, as well as, overnight financing payments or charges called swap rates. Swap rates are not often essential to day traders. However, commissions and spreads are often important and must be factored in by all traders who intend to make profits from their trading activities.

Brokersstation has a competitive floating spread charge, which is about 0.8 pips during the most active hours in the trade market on the benchmark US/EUR currency pair. When it comes to the ESD/JPY spread, the company charges about 1.7 pips and 1.9 pips for the GBP/USD spread. As it is evident, these costs are exceptionally low and very competitive in the current market. Furthermore, the firm does not take any commission from the trades it contacts and, therefore, the customer often gets paid what is reflected in the spread. Brokersstation also offers some of the best spreads on popular commodities. For example, recently it provided a spread of about 50 cents per one ounce of gold and 14 cents per barrel of oil, an offer that is also competitive in this market. See Risk Management Tools used by Brokersstation.

Features

The company provides a very efficient CFD platform for trading, which has been created using, and adhering to the highest standards possible and one that lets thousands of customers to trade on more than 2000 instruments. These include more than 50 ETFs and Forex pairs, commodities, shares and indices that have been spread in over 20 markets all over the globe. The company only requires that the customer deposits a minimum of 200 dollars in the account before trading can begin. Another important feature is that Brokersstation does not use a marketing team like many other trading companies. This means that the customer does not have to deal with overly aggressive people and that the client’s information is not passed over to third parties. All a potential customer has to do is deposit the funds into his or her account for the application process to be complete. Therefore, the company is the best choice for those individuals who do not want to deal with third parties and who are willing to carry out the trading activities by themselves.

Offerings for Risk Management

Brokersstation offers its customers various tools for risk management. These are particularly essential because they decrease the chances of loss by significant percentages. For example, traders are given the option of managing their leverage and trading with the level of leverage they choose depending on their equity and Total Position Value, which is measured by withdrawal or deposit of funds. The clients can view their Equity and Total Position Value on their Account’s Snapshot page, which they can access from the homepage. Besides, customers can also set secured Close at Loss (stop loss) or Close at Profit (limit) price levels for particular tools that can also decrease their risks. Many other brokers in the market do not have or use this feature.

Customers can also set alerts for stock prices and, therefore, get notifications for when the market or a stock reaches a particular sell or buy price. Unlike the Stop feature, alerts for set prices keep the various options available to the customer open, meaning that the customer can choose what action to take as the situations in the market change. Furthermore, the client’s homepage has several other features including the Instrument Details Screen and the Instrument List, which has a bell icon that can be used to open a screen for Price Alerts where the customer can set up more preferences. Brokersstation also offers other additional tools for risk management, for example, the trailing stop that works in the same manner as the price limit option. Both of them are meant to protect the customer’s profits and are, therefore, essential tools for managing risk. A trailing stop that the client sets up on opening or starting a trade often locks in his or her profits by closing a position at the new level of the trailing stop option rather than the original level, therefore, decreasing or limiting any possibility of loss of the profits. The client can do all this without having to monitor his or her position manually by adjusting the stop price option.

Additional Features/ Offerings

The company was among the first few to offer services in leveraged trading using bitcoins, which became available and useful in CFDs early 2013. At the time, the broker was providing a leverage of 1:4. The following year, the company responded to the increasing demands from its clients and increased the leverage to 1:10. The broker’s bitcoin CFDs have to be renewed each month. What is important to note is that the bitcoin operates and is treated similarly as the other CFDs in the company and can be used to trade in the demo account offered by Brokersstation. Besides, the company’s website can be read in 32 different languages, and it directs visitors directly to the site with the most preferred language. The free demo is another important feature that is unlimited. Customers can practice trading for as long as they wish.

Deposits and Withdrawals

Withdrawals and deposits can be made using a variety of methods including Paypal, Skrill, bank transfers and credit cards.

Brokersstation’s Bonus

All customers appreciate a great bonus and the broker offers a variety of bonuses, which also vary significantly. For example, more recently the company provided two types of bonuses. The company gave the traders who made a deposit after creating an account a generous deposit bonus. The bonus is dependent on the amount of money deposited. For example, a 100 dollar deposit attracted a 30 dollars bonus, and 500 dollars deposit received a 150 dollars bonus. Anyone who deposits 5000 dollars or more received an extra 1000 dollars in the form of a bonus. Furthermore, there was also a 25 dollars bonus that was not linked to deposits that was being credited to the account of the traders after registration. This bonus is especially beneficial for those customers who wish to test the validity and efficiency of the company’s trading activities before committing fully.

Regulation

International Security Limited operates the Brokersstation Company, and it is managed as a financial services cooperation that was incorporated in Vanuatu. As it follows, it is regulated and was licensed by the Vanuatu Financial Services Commission. Its license allows the company to offer trading services in commodity-based and financial derivative tools and other securities.

Customer Care Services

The company is open to customer care queries and requests 24/7 and can be reached by fax, email or online chat platforms. It also uses Webtrader platforms and a Forex trading platform that offer customers relevant information. The company’s trading platform comes in three forms including a web-based platform, a downloadable version, and a mobile trading app. Customers can switch seamlessly between all the three versions. Besides, customers can build their personalized trading platforms and have access to various trading features including guaranteed stop loss and advanced technical analysis tools among others. The company’s platform is entirely reliable and has a significantly high rate of execution, as well as, competitive spreads, leverage and takes no commissions.

Advantages of using Brokersstation

  • Availability of a demo account
  • The company has a multi-language website
  • The company is highly regulated

Conclusion

Brokersstation uses various user-friendly tools that make the trading experience especially pleasant for customers. The company has more than fifteen years of experience and, therefore, offers some of the best CFD services in the market.

**Note that CFDs are leveraged products and, therefore, traders can lose all their deposits in trading. Trading in CFDs is not fit for all individuals. Please make sure you are aware of all the risks involved.

We give it 5 stars
Links: Forex Broker Reviews blog  Plus500 Review  Live Chart Forex Brokers Reviews UK |  Forex Brokers Reviews |

Brokers Station Review
4.8 (96%) 5 votes