AngelsBroker Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this AngelsBroker Review.
AngelsBroker is a forex and CFD broker, which offers a single account type. The company’s website feels rather unpolished, at the time of writing of this review. Although this isn’t a major issue, it still leaves a feeling of doubt, when you first view it.
The Company. Security of Funds
Company Country Regulation
Angels Broker Ltd. Vanuatu VFSC
Angels Broker Ltd. Is the company behind the eponymous broker. It is registered in Vanuatu and overseen by the local VFSC. That being said, the company appears to be operating out of Bulgaria. Still, it should be treated as an off-shore company, which inherently involves some risks, as described here.
The Vanuatu islands have recently became a hot-spot for shady forex brokers. This is due to the local Vanuatu Financial Services Commission (VFSC)’s incredibly low requirements – a company can receive a broker license, after proving they have $2,000 in capital. Other regulatory agencies also have similar conditions, for new companies, for instance the UK’s Financial Conduct Authority (FCA) demands EUR 730,000. Furthermore the FCA forces companies to implement segregated accounts. This rule states brokers must keep their clients’ funds separate from the firm’s. This prevents scammers from simply taking your money. Furthermore all FCA-regulated brokers are a part of the Financial Services Compensation Scheme (FSCS). This is a mechanism, which functions like an insurance pool, which guarantees investments against brokers becoming insolvent. If you trade with such a broker your account will be covered up to GBP 50,000.
AngelsBrkoer offers a loyalty program. It provides a $1 per trading lot cash-back. This in essence lowers the spread by 0.1 pips. Other interesting features are the company-provided trading analysis. This is a measure which some brokers avoid, due to the possibility of a conflict of interest. That being said, this portion of AngelsBrokers’ website is currently empty. All in all, this is still far less shady, than having a sales representative pitching trades on the phone, which is totally unacceptable.
Minimum Initial Deposit
AngelsBroker has set the initial minimum deposit at $50. This is a relatively low level, although some brokers have gone even lower. For one, XM only demands $5 for a new account.
That being said, the minimum entry level is only important for testing a company’s service or for new traders, who were only trading demo accounts. On the other hand, experienced traders know, more capital is required in order to follow a solid strategy.
Average spreads & Commissions
Spreads at AngelsBroker start from 0.9 pips on EUR/USD. This is very competitive in the current environment. Despite spreads being an important factor, they do not outweigh a broker’s regulatory status. On the other hand, you can check spreads offered by some of the world’s top brokers here.
AngelsBroker offers a 1:100 maximum leverage. That may seem like a low level, given the fact some brokers offer 1:500 and even more, but is perfectly suitable for a sound trading strategy.
Remember high leverage ratios can be dangerous, especially if not utilized properly. Do not use your entire account balance as collateral at the same time. Say you trade at 1:100, and you take the maximum position you can. In that case a mere 1% market move against you, will result in the loss of your entire investment.
MetaTrader 4 (MT4) is provided by AngelsBrkoers. It is the most popular currency trading platform in the world, as it is offered by many brokers. The platform is easy to learn, while still providing supreme charting potential for experienced technical analysts. Furthermore, there are a lot of custom tools, such as new indicators and automated trading systems, available in the platform’s own marketplace.
Mobile versions are also available in the iOS app store and Google Paly store. They are packed with a lot of functionality. In fact, in our opinion they provide one of the best mobile ports of a trading platform. On the other hand, the desktop does have a couple of weaknesses, which experienced traders hate. For one, it is locked in a single window – multiple monitor layouts are not available. The other potential problem is the platform can lag a bit if too many instruments (like an extensive list of hundreds of stocks) are loaded. However this rarely happens, as most brokers only offer currency pairs, commodities and equity indices.
Methods of Payment
Angels Broker offers a number of payment methods. They range from the traditional Bank Transfer and Credit/Debit Card, to e-wallets such as Webmoney, OkPay and Qiwi. The choice of alternative methods is rather bizarre, as popular options like Skrill and Neteller are left out.
AngelsBroker is an off-shore forex and CFD broker. It is registered in Vanuatu and regulated by the local VFSC, which is known for its loose standards. The company appears to be operating from Bulgaria, but does not have any affiliation with local or other EU watchdogs. Spreads at this broker are competitive with the current offers by other brokers. Although they are an important factor in trading, regulation is still more important in our opinion.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
AngelsBroker Review Conclusion
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