Overall, Elana Trading is very competitive in terms of its trading fees and spreads. Their spread is super low compared to other FSC-regulated brokers, and there are no hidden trading fees, and commissions with Elana trading accounts.
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 Elans Trading review below.
Elana Trading Review – A Key 20 Point Quick Overview
- ✅Elana Trading at a glance
- ✅Elana Trading Overview
- ✅Elana Trading Sign-up Bonus
- Elana Trading Minimum Deposit
- 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 Fees and Spreads
- Elana Trading Deposit fees and deposit methods
- Elana Trading Platforms
- Elana Trading vs EGM Securities vs CPT Markets – A Comparison
- Top Countries by Similar Web
- Elana Trading Current Popularity Trends
- Elana Trading Pros and Cons
- Elana Trading Customer Reviews
- Conclusion
- Disclaimer
- Frequently Asked Questions
Elana Trading offers access to currencies, indices, stocks, options, futures, ETFs, CFDs and commodities. Elana Trading is regulated by the FSC (Bulgaria).
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 Sign-up Bonus
Elana Trading does not offer a welcome bonus to traders who choose to register for a real account. While the broker’s regulator does not restrict it from offering promotions to its clients, it appears that bonus incentives do not form part of Elana Trading’s offering overall.
| 🎉 Sign Up Bonus | ❌ |
| Referral Bonus | ❌ |
| Deposit Bonus | ❌ |
| 🤝 Affiliate Programs | None currently on offer |
As a general explanation, a bonus can be best understood as a way of compensating traders for having decided to open an account with a chosen broker.
Elana Trading Minimum Deposit
There is no minimum deposit amount required to open a broker account with Elana Trading. That said, it is generally recommended that traders maintain a minimum amount of about $100 (R 1600.00 USD/ZAR at the time of writing) in their account to avoid dropping below negative during trading.
| No Minimum Deposit |
| Spreads from 0.0 pips |
Having no minimum deposit by the broker presents no barrier to entry to new and beginning traders.
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.
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 Fees and Spreads
Traders with Elana Trading can expect the following spread list: Elana Trading provides relatively tight spreads on EUR/USD for the MetaTrader accounts and from 0.0 pips for the Global Trader accounts.
| 💳 FX Minimimum Trade Size | 10000 units |
| 💰 Minimum Deposit | No Min Deposit |
| Tight spreads | |
| 📊 Trading Instruments | over 180 FX Pairs (incl Gold & Silver), FX Forward Outrights, Vanilla Options, 18000+ Stocks on over 30 exchanges, ETFs, ETCs, Futures, Contract Options, Wide variety of Bonds |
The broker offers commission-free trading on both accounts, making for a competitive offer in terms of pricing.
Elana Trading Deposit fees and deposit methods
Elana Trading has a limited selection of deposit methods, consisting of a bank wire transfer or debit and credit cards. The broker does not offer any sort of e-payment method at this stage. In terms of deposit security, Elana Trading is regulated by the Bulgarian Financial Supervision Commission (the FSC) and operates within the European Union. The broker is also a member of the Investor Compensation Fund in Bulgaria.
With regards to deposit currencies, Elana Trading accepts a wide variety of major currencies. However, traders depositing in smaller currencies, such as ZAR/Rand, may incur conversion fees.
| Bank Wire Transfer |
| Debit or Credit card |
This Fund is set up to compensate up to 90% of the amount on a trader’s account, but not more than 40,000 Bulgarian levs (about 20,000 Euro, in the unlikely event of broker insolvency. Furthermore, all client funds are stored in segregated accounts with top-tier banks to safeguard against any possibility of financial misappropriation.
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
Elana Trading Platforms
Elana Trading provides traders with access to two leading trading platforms, namely the forex359 MetaTrader 4 and the proprietary Elana Global Trader.
Forex359 MetaTrader4
By now, MetaTrader 4 requires no introduction, being one of the most popular trading platforms on the Forex markets. MT4 is equipped with various trading features, tools, indicators, charts, and analytics. The platform provides access to numerous assets in a user-friendly interface and is widely compatible with all iOS and Apple devices and computers.
Elana Global Trader
ELANA Global Trader is a platform for trading on the international financial markets, which offers a vast variety of trading instruments. Whether you are a trader who wants the performance and flexibility of a professional trading environment or an investor who needs access on the go, Elana Global Trader caters to a variety of needs.
There are two versions of ELANA Global Trader which allow you to trade from your computer, laptop, tablet, or mobile phone according to your needs.
Elana BG Trader
Trade everywhere – use from any computer and any mobile device
Analyze the market’s full history with a variety of charts
Enjoy transparent and comprehensive reporting
Test with free demo for 30 days
Elana Trading vs EGM Securities vs CPT Markets - A Comparison
| 🥇 Elana Trading | 🥇 EGM Securites | 🥇 CPT Markets UK | |
| 💳 Minimum Deposit | No Min Deposit | $15 | $100 |
| ZAR | 0 | R240 ZAR | R1 600 ZAR |
| 🎉 Bonus | ❌ | ☑️ | ☑️ |
| 💻 MT4 | ☑️ | ☑️ | ☑️ |
| ☪️️ Islamic Account | ❌ | ☑️ | ❌ |
Top Countries by Similar Web
| 🌐 Bulgaria | 97.45% |
| 🌐 Netherlands | 1.71% |
| 🌐 Germany | 0.45% |
| 🌐 Austria | 0.41% |
| 🌐 Others | 0.00% |
Elana Trading Current Popularity Trends
According to Google Trends, here is an overview of how frequently the search term – “Elana Trading” is entered into Google’s search engine over a given period of time.
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
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.
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Disclaimer
Elana Trading warns potential customers that Forex and CFDs trading carries a substantial risk and may not be suitable for all investors. Before deciding to trade with Elana Trading, potential traders are advised to carefully consider their investment objectives, financial situation, needs, and level of experience before investing money they cannot afford to lose.
Elana Trading warns that margin trading involves the potential for profit as well as the risk of loss. Movements in the price of foreign exchange and commodities are very unpredictable, hence Elana Trading cannot guarantee the maximum loss that a trader may suffer.
Frequently Asked Questions
Is Elana Trading a legit broker?
Elana Trading can be considered a reputable broker as it is regulated through FSC in Bulgaria.
For which type of trader is Elana Trading suited?
Elana Trading is suited for traders of all types from beginner to small retailer traders.
Which type of platforms are supported by Elana Trading?
Elana Trading offers the popular MetaTrader4 platforms as well as its own proprietary platforms, such as Elana Global Trader
Does Elana Trading manipulate the market?
Elana Trading is not known for manipulating the market as they are regulated through the FSC
What is the overall score for Elana Trading?
Elana Trading holds a trust score of 9/10
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