3TG Brokers Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this 3TG Brokers Review.
3TG Brokers Review
There are four basic accounts available with 3TG Brokers: Composite, Fix and two ECN accounts. The non-ECN accounts are commission-free, while the ECN Classic & Elite ones involve a commission fee, which is not indicated on the broker’s website.
Micro lots are available for trade on all account types.
The Company. Security of Funds
3TG Brokers offers trading in more than 50 currency pairs and various Contract for Difference (CFDs) on the most popular trading platform, MetaTrader 4. The broker operates on a Straight-through-Processing (STP) policy.
3TG Brokers is the Forex and CFD trading brand of 3TG FX Financial Limited Partnership, a New Zealand based company, registered in the Financial Service Provider Register (FSPR) and as such regulated by the Financial Markets Authority (FMA).
Forex brokers in New Zealand are obliged to meet a set of rules. Under the FMA client money rules, brokers are required to segregate all retail client funds from their operational ones. This separation of accounts ensures that, if the broker becomes insolvent, clients’ money cannot be claimed by its creditors.
What is more, a minimum capital requirement for forex brokers is about to be introduced in 2016 and they will be required to hold net tangible assets amounting to a minimum of $1,000,000. Currently, however, such requirement does not apply in New Zealand, and it does in most jurisdictions: forex brokers in Australia, for instance, are obliged to hold a minimum of $1,000,000, those based in the US – $20 million.
In addition, 3TG Brokers adopted the recommendations of the Financial Action Task Force (FATF), an intergovernmental body tasked with combating money laundering and terrorist financing.
Minimum Initial Deposit
The minimum initial deposit required by 3TG Brokers is $300. This is a reasonable amount to start trading with, however it may prevent some small market players from trading with this broker, taking into account that CMC Markets, a leading NZ-based brokerage, does not require any minimum deposit.
Commission & Spreads
This broker has both fixed and floating spreads in its portfolio, varying by account category. The typical ones on the Composite account type are comparatively high, amounting to 1.7 pips on EUR/USD, and the fixed ones are 2.2 on EUR/USD. The ECN accounts provide tighter spreads, averaged 0.9 pips on EUR.USD, however a commission applies.
In comparison, CMC Markets, offers spreads averaged 0.9 pips on EUR/USD, and charges an average commission amounting to 0.10 % of the volume traded. You may check out and compare real-time spreads of 15 leading brokers here.
The maximum leverage level offered by 3TG Brokers is 1:300, which is relatively high, yet most brokers usually offer higher leverage ratios. CMC Markets, for instance, provides leverage up to 1:500. A list of more forex brokers offering leverage levels equal to or exceeding 1:500 may be viewed here.
We advise traders to exercise caution when operating with high leverage, for trading on margin may lead to heavy losses exceeding their initial investments.
Like most FX brokers, 3TG Brokers supports the industry standard, MetaTrader 4 (MT4), coming in desktop and mobile versions.
MT4 is globally popular for its innovative, on the go trading capabilities, variety of built-in indicators, advanced charting, automated trade options with Expert Advisor strategies (EAs) and extensive back-testing environment. Not to mention its fast and user-friendly technology, designed to let you trade with ease.
3TG Brokers also offers MAM accounts provides to money managers and investors on the MT4. It is equipped with a professional and easy-to-use interface for managing multiple accounts simultaneously from one account. It also provides an overview of open trades, margins, and balances on an unlimited number of MetaTrader 4 trading accounts.
What is more, this broker offers advanced auto trading options with MyFXBook’s AutoTrade and ZuluTrade.
Methods of Payment
3TG Brokers’ clients are offered various modes of payment: Credit cards (Visa and MasterCard accepted), bank wire transfer, and the following e-wallets: Skrill, Neteller, China UnionPay and OKPAY.
3TG Brokers is a reliable broker operating under the licensing and regulation requirements of New Zealand. It offers online FX and CFDs trading services in STP/ECN environment.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
3TG Brokers Review Conclusion
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