Elana Trading offers two live Account Types that are designed around the provided trading platforms, namely the MetaTrader Account and the Elana Global Trader Account, which vary according to what traders require.
Elana Trading at a glance
| 🔍 Broker's Name | Elana Trading |
| 🏛 Headquartered | Bulgaria |
| 📅 Year Founded | 1991 |
| 🏛 Regulating Authorities | The Financial Supervision Commission (FSC) |
| 🌍 Countries not accepted for trade | 1991 |
| ☪️️ Islamic (swap-free) Account | No |
| 📒 Demo Account | Yes |
| 🏛 Institutional Accounts | Yes |
| 💻 Managed Accounts | Yes |
| 📉 Maximum Leverage | 1:200 |
| 💰 Minimum Deposit | No minimum |
| 💳 Deposit Options | Credit Card/Debit Card Wire Transfer |
| 📊 Platform Types | ELANA Global Trader FOREX359 ELANA BG Trader |
| 📲 OS Compatibility | PC and Mac OS, mobile for Android and IOS |
| 📉 Tradable Assets | Over 180 currency pairs, precious metals, binary options, CFDs, shares, futures, options, and ETF |
| 🌐 Languages supported | English and Bulgarian |
| ☎ Customer Service Hours | 24/5 |
Min Deposit
USD 0
Regulators
FSC
Trading Platform
Elana Global Trader
Crypto
Yes
Total Pairs
180+
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Choose your quick section of our Elana Trading Account Types below.
Elana Trading Account Types Revealed – A Key 12 Point Quick Overview
- ✅Elana Trading at a glance
- ✅Elana Trading Account Types Revealed:
- ✅Elana Trading Overview
- ✅Elana Trading Account Types
- ✅Elana Trading Account Features
- How to open an Elana Trading Account – Step by step
- Elana Trading Demo Account
- Islamic Account
- Elana Trading Pros and Cons
- Elana Trading Customer Reviews
- Conclusion
- Frequently Asked Questions
Since its inception, Elana Trading has occupied a leading position in the Bulgarian capital market, with over 30 years of experience in the brokerage markets.
Elana Trading Overview
Elana Trading is a well-regarded European broker operating out of Bulgaria that was established as far back as 1991. As such, the broker has more than 30 years of experience in the global financial markets and is backed by a large and lucrative parent company, while its team consists of industry experts and analysts.
Elana Trading offers access to currencies, indices, stocks, options, futures, ETFs, CFDs, and commodities. Elana Trading is regulated by the FSC (Bulgaria). The trading of these assets is facilitated on either the MetaTrader 4 platform or the broker proprietary Elana Global Trader platform, each with its own distinct set of tools and features.
The Elana Global Trader is also popular and well-reviewed by users for its Fast Order Execution, Advanced charting, Technical Analysis tool, Market news and analysis, Economic Calendar, Flexible workspace, Stock Screener, Equity Research, and Performance Overview.
Elana Trading is well-regulated to offer a secure trading environment. ELANA Trading AD is registered in Bulgaria and is authorized and regulated by the Financial Supervision Commission (Register number RG-03-0030). For your safety and in compliance with regulations, all clients’ funds are kept separately in segregated bank accounts and are covered by the Investor Compensation Fund Bulgaria.
Elana Trading has a strong corporate background, as it forms part of ELANA Financial Holding, one of the largest Bulgarian institutions in the non-banking financial sector with 28 years of experience in the financial markets in Bulgaria and abroad.
Elana Trading Account Types
Elana Trading offers two account types that are designed around the provided trading platforms, namely the Forex359 MetaTrader Account and the Elana Global Trader Account.
| Global Trader Account | Forex 359 MetaTrader4 Account |
|
| 💳 Minimum Deposit | No Min Deposit | No Min Deposit |
| 📊 Platform Features | Fast Order Execution, Advanced charting, Technical Analysis tool, Market news and analysis, Economic Calendar, Flexible workspace, Stock Screener, Equity Research, Performance Overview | Fast Order Execution, Advanced charting, Technical Analysis tool, Market news and analysis, Economic Calendar, Flexible workspace, Stock Screener, Equity Research, Performance Overview |
Elana Trading Account Features
Elana Global Trader Account
| Features: |
| Minimum trade size: 1000 units |
| No Min Deposit required |
| Trading instruments: over 180 FX Pairs (including Gold & Silver), FX Forward Outrights, Vanilla Options, 18000+ Stocks on over 30 exchanges, ETFs, ETCs, Futures, Contract Options, Wide variety of Bonds |
| The platform features: Fast Order Execution, Advanced charting, Technical Analysis tool, Market news and analysis, Economic Calendar, Flexible workspace, Stock Screener, Equity Research, Performance Overview |
MetaTrader 4 Account
The MetaTrader 4 account provides access to more than 70 currency pairs, precious metals as well as index and natural resource-based CFDs.
The partnership of Elana Trading with Saxo Bank distinguishes the broker among others and enables the MetaTrader account owners to operate over 180 currency pairs, binary options, CFDs, shares, futures, options, and ETFs. Both platforms also have demo accounts.
How to open an Elana Trading Account – Step by step
To apply for a live account, traders will need to provide the following:
- Proof of identity. Scan your ID card or another identification document front and back.
- Proof of address. Scan a utility bill (a gas, water, electric, or landline phone bill (not mobile) that’s less than three months old) or a document issued by a bank, certifying that you have a valid bank account.
- Go to the web page of ELANA Trading for the online application and fill out the form.
- Step 1 – Navigate to the Elana Trading website
The first step in registering for an Elana Trading account involves traders navigating to the Elana website, clicking on ” Elana Trading” and then “online contract” to proceed.
- Step 2 – Fill out the Elana Trading registration
The second step in the registration process requires traders to fill in their email addresses, Traders will then receive an email from Elana in order to activate the email provided.
- Step 3 – Confirm your email address
The third step in the live account registration process requires traders to confirm their email addresses by clicking on “Activation” and proceeding through the Elana KYC process.
- Step 4 – Proceed through the KYC process
The fourth step in the Elana live account registration process requires traders to fill in their: contract options, personal information, and declarations, thereafter traders will be required to confirm registration.
Elana Trading Demo Account
The demo account from Elana Trading is funded with virtual currency and allows users to test out the features of the broker’s trading platform before signing up for a real account.
| 🌐 Demo Account Features: | $10 000 |
| 30 Days | |
| No documents required | |
| 📊 Trading Platforms | ELANA Global Trader FOREX359 ELANA BG Trader |
Islamic Account
Elana Trading does not offer an Islamic Account to traders of the Muslim faith. This is a drawback to such traders, as an Islamic Account fulfills an important purpose, as outlined in more detail below. Also known as ‘no swap accounts’, Islamic trading accounts allow Muslims to engage in online forex trading in compliance with Sharia law.
With 25% of the world’s population practicing the Islamic faith, Islamic forex trading has continued to gain popularity worldwide. Essentially, an Islamic forex trading account charges no swap or rollover interest on positions held overnight in the forex market. An administration fee is, however, charged on some accounts to open positions.
Elana Trading Pros and Cons
| ✔ PROS | ❌ CONS |
| Advanced trading features | A limited selection of deposit methods |
| Commission-free trading is available | No Islamic Account is available |
| No minimum deposit is required to open an account | |
| Well-regulated broker with high deposit security |
Elana Trading Customer Reviews
Great Platform!
Elana Trading’s BG Trader is by far the best I’ve come across, Elana Trading provides the easiest and most accessible trading platforms – D
Affiliate Programs offered?
I’m not sure if Elana Trading offers Affiliate programs to Brokers in South Africa – this can be considered for future offerings – Shannon
No Sign Up Bonus
The Elana website is easy to navigate but I am just disappointed that there are no bonuses or reward programs on offer. – Chrissy
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Min Deposit
USD 0
Regulators
FSC
Trading Platform
Elana Global Trader
Crypto
Yes
Total Pairs
180+
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Conclusion
Overall, traders with Elana can enjoy access to numerous assets, and a strong platform offering consisting of advanced and customizable features. Elana Trading is a well-established broker that seeks to incentivize new traders by offering more competitive trading conditions. The Bulgarian forex broker complies with EU regulations to provide access to a wide range of assets, facilitated on the MT4 platform and the broker’s own proprietary software.
Frequently Asked Questions
Is Elana Trading a good broker to choose if I am new to trading?
Elana Trading caters to both beginner and advanced traders, new traders have the option of educational videos and a demo account in order to practice their trades risk-free.
Can traders from South Africa open an Elana Trading account?
Elana Trading offers the option of opening an account to traders in South Africa.
How many instruments can I trade with Elana Trading?
Elana Trading offers a vast selection of tradable assets and instruments. These include over 180 FX Pairs (including Gold & Silver), FX Forward Outrights, Vanilla Options, 18000+ Stocks on over 30 exchanges, ETFs, ETCs, Futures, Contract Options, and a wide variety of Bonds.
Does Elana Trading offer leverage?
Yes. Traders on the MetaTrader accounts can apply for leverage of up to 1:200 if they reside outside of the EU. The Global Trader account offers maximum leverage of 1:50.
Standard retail traders residing within the European Economic Area have a maximum leverage of 1:30 due to regulatory safeguards against the high risks of losses that arise from using high leverage ratios.
Professional clients can apply for higher leverage ratios of 1:200, after complying with certain criteria that confirm their status as professional traders.
Does Elana Trading have ZAR accounts?
Elana Trading does not offer any ZAR accounts to traders.
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