Broker Review: NiroTrade
Commissions & Fees
Offering of Investments
License & Regulation
Licensing and Regulation
NiroTrade is a registered broker that meets IFSC standards and invests heavily in protecting its traders. Comodo SSL security safeguards against cyber crime, while all trader funds are held in segregated accounts. Additional protection is provided by NiroTrade’s well trained customer service teams and account managers.
We’ve had positive feedback from NiroTrade clients in the EU, Poland, Russia and many other countries around the world. The broker welcomes traders from almost everywhere, but cannot take traders from the US and Canada.
Account Management - Minimum Deposit
We opened a basic account at NiroTrade with just $250, although this wasn’t really enough to explore their large asset index. We topped up the account with another $500 and soon made it back. Account management was simple and glitch free. The deposits were almost instantaneous and when we withdraw our funds, NiroTrade completed their part of the transaction in less than 24 hours. The account terms are simple and clearly displayed – so there’s no confusion. There is also no pressure to reinvest your profits.
We rate NiroTrade as one of this year’s top brokers. We loved their technology and enjoyed the flexible and dynamic trading experience that it gave us. The social trading feature delivers a lot of useful trading opportunities, and allowed us to study other traders’ styles. We also benefited from the Daily Analysis videos, Daily Market Review, Live Market Summary and Financial News that offered relevant data for fundamental analysis. Technical analysis was made easy by the great range of indicators: Bollinger bands, MACD, moving average, patterns, Japanese candles, pivot points and markets trends. There are also multi-timeframe charts that give real insights into asset performance. The education center is good, with VOD trading tutorials, ebooks and courses. In addition, we were offered one on one training.
NiroTrade uses their own technology to provide an unbeatable trading platform. It’s logically designed and user friendly, making it great for beginners. But is sophisticated enough to allow high volume professional trading. All prices are quoted in real time and there are constant price alerts. The platform delivers instant order execution and there is high flexible leverage on all assets. The platform was a real pleasure to use and made trading genuinely enjoyable.
Markets, Assets and Products
NiroTrade offers an excellent asset index and is planning to expand again with the addition of Bonds and ETFs. We mainly traded cryptos, forex but also tried out some of the high performance stocks that have been in the news recently. There are also some volatile commodities like Oil, Gold and Platinum and major indices.
Our account manager was very keen for us to use the education center and offered to work with us on a personal level as we tried out the platform. The education center isn’t quite the best that we’ve ever seen – but it’s definitely in the top tier! There is a series of trader ebooks, a VOD film tutorial set, as well as trading courses and plenty of other resources. We strongly recommend the NiroTrade education center to new traders – it should be your first destination.
Customer Service and Support
Customer service at NiroTrade operates 24/7 (we know because we asked a few friends around the world to test them at different times). The reps are helpful and easy to contact, with no irritating waits. They answered a range of questions about deposits and withdrawals, the trading platform and account types. The staff is professional, friendly and were quick to offer one on one training and upgrades.
We took the time to explore the platform features and give NiroTrade a good workout. Generally, the trading experience is excellent. Some notable features are the Daily analysis videos, calculators and the full economic calendar. There is good charting, with an option to draw deeply on the charts if you are looking for more sophisticated data. One underrated tool that deserves a lot more attention is the personal reports device which can seriously improve your trading.
At a Glance
PLUS: NiroTrade brings traders the latest technology and uses it a lot more effectively than most similar brokers. Site security is excellent and we had no worries at all about depositing funds to our new segregated account, or sharing personal details with NiroTrade. The trading experience is one of the best that we’ve tried and the wide asset index gives exposure to all major markets. Customer service operates 24/7 and the professional account managers are on call during trading hours.
MINUS: NiroTrade won’t accept traders from the US or Canada. NiroTrade is a little bit weak when it comes to payment methods. The broker is growing fast and needs to accommodate its traders with more systems.