Trader.Online Review South Africa – Unbiased Pros & Cons Revealed

A quick overview of our Trader.Online review:

• Who is Trader.Online?
• Safe or scam
• Pro and cons
• Leverage
• Accounts
• Market instruments
• Fees
• Deposit and withdrawal
• Trading platforms
• How to open an account
• Customer support
• Education

Who is Trader.Online?

According to research in South Africa TRADER.ONLINE is a forex broker in Majuro in the Marshall Islands.

TRADER.ONLINE is managed by Zolarex Ltd. and was established in 2018. The broker apparently also has a registered office in Sofia District in Bulgaria.

The website is however not regulated by any reputable authority.

Safe or scam

One of the best benchmarks to measure the safety of a broker like TRADER.ONLINE, is to establish which regulating authorities are watchdogs over its actions.

TRADER.ONLINE’s financial services are provided by Zolarex Ltd., which is registered in the Marshall Islands, but its website is operated by Zola Ltd., a company registered in Sofia, Bulgaria.

This company is not licensed by the Bulgarian Financial Supervision Commission (FSC), making the offshore registration in the Marshall Islands is the only valid one.

TRADER.ONLINE has also been blacklisted by the Portuguese Securities Market Commission a while ago.

Pro and cons

Leverage

Leverage is a facility that enables you to get a much larger exposure to the market you are trading than the amount you deposited to open the trade. Leveraged products, such as forex trading, magnify your potential profit – but also increase your potential loss.

Leverage amount is expressed as a ratio, for instance 50:1, 100:1, or 500:1. Assuming that you have $1,000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate 500:1.

Margin is the amount of collateral to cover any credit risks that may arise during your trading operations. It is expressed as the percentage of position size (e.g. 5% or 1%), and you have to have funds in your trading account to ensure sufficient margin.

TRADER.ONLINE offers a maximum leverage ratio of 1:100.

Accounts

A forex account at TRADER.ONLINE is a trading account that you will hold and that will work similarly to your bank account, but with the difference that it is primarily issued with the purpose of trading on currencies.

Forex Islamic accounts are also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, which is against Islamic faith.

TRADER.ONLINE offers the following types of accounts:

Take-Off Account

This account can be opened with $250 and a trader can qualify for a welcome bonus of up to 25%.

Booster Account

This account can be opened with $2 500. A trader can qualify for a welcome bonus of 50% when opening an account.

Uplift Account

To open the Uplift Account a customer must deposit a hefty $10,000 and may qualify for a welcome bonus of up to 75%.

Market instruments

The most popular market instruments available from most brokers for trading include:

Forex

Forex trading describes the currency exchange market which refers to the global, decentralised marketplace where individuals, companies and financial institutions exchange currencies for one another at floating rates.

Commodities

Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and plays a major role in portfolio diversification and risk management.

Indices

Equity, or stock indices, are actual stock market indexes which measure the value of a specific section of a stock market. They can represent a specific stock market or a specific set of the largest companies of a nation.

Precious metals

The trading of gold and other precious metals, along with crude oil, copper or petroleum, are hard commodities that play a major role in the commodities market and are contract-based tradable goods.

Energy

The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions and global economic growth.

Cryptocurrencies

Bitcoin (BTC) is the digital currency with the largest market capitalisation.

Litecoin (LTC) is similar to Bitcoin but differs in terms of scalability

Ripple (RPL) is popular among big banks with the Ripple network a next generation real-time gross settlement system.

Ethereum (ETH) is the second largest cryptocurrency after Bitcoin and allows developers to create smart contracts on a platform.

Bitcoin Cash (BCH) was created by the Bitcoin hard fork in 2017 as a new version of the blockchain with different rules.

TRADER.ONLINE offers the following of the above: more than 23 forex pairs, including exotic currencies like Norwegian Krone, South African Rand and Russian Rubel, as well as CFDs on 6 major indices, stocks and commodities like oil, natural gas, coffee, sugar and wheat.

The broker also offers CFD trade with spot metals like silver, gold and copper, and a number of crypto coins – Bitcoin, Litecoin, Dash, Ethereum, Ethereum Classic, Monero, Ripple, Zcash and Golem.

Fees

Cost depends on different factors, like spread and margins, and TRADER.ONLINE clients may also experience different fee structures according to their country or place of residence.

The spread of a currency pair is the difference between the bid and the ask rate. A pip represents the smallest increment that an exchange rate can move. Margin is the amount of money required in your account in order to open a position.

TRADER.ONLINE charges spreads for the EURUSD fixed at 2 pips, but it offers a second web based platform – Simplex, on which they are taking a 0,1% commission.

TRADER.ONLINE does not charge commission on deposits, but on withdrawals, depending on the method used.

Deposit and withdrawal

Accounts usually requires a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be done with the same ways, but sometimes differ.

In the case of TRADER.ONLINE the following are required: $250 to open a starter account, but for its premium accounts you will have to deposit at least $2 500 for a Booster Account and $10 000 for the Uplift Account.

You can only fund an account with a bank wire, credit cards like VISA and MasterCard or i-Payments, but no other popular payment options like Skrill, Neteller and PayPal or Bitcoins.

Withdrawals must be done with the same method a for a deposit and may take up to 5 working days to process. They also charge a commission according to the method used.

Trading platforms

The forex trading platform provided by TRADER.ONLINE to its clients is in essence the software to carry out their trades.

TRADER.ONLINE provides two web based trading platforms – Forex and Simplex.

The Forex platform aims to make Forex trading easier and is suitable for traders with experience in Forex trading. TRADER.ONLINE then further simplified everything more with its Simplex platform, which is suitable for the absolute beginner.

How to open an account

Similarly to a bank, to register a forex trading account with TRADER.ONLINE for the first time, you will be required to go through a basic “know your customer” process, which will allow TRADER.ONLINE to ascertain that your submitted details and ensure the safety of your funds and account details.

Customer support

Potential traders need to make sure the broker company they chose will offer sufficient support whenever they need it.

In the case of TRADER.ONLINE customers can reach the support team 24/7, by phone or email.

Education

Before starting to trade, potential clients of TRADER.ONLINE should avail themselves of all possible information and trading skills needed to be successful in the world of forex and commodity trading.

TRADER.ONLINE provides a number of short educational articles at its Learning Academy on the website.

After registering an account with the broker, you may also attend weekly webinars on different topics offered by the company.

Research

To be able to trade with confidence, traders should do as much as possible research about this kind of speculative trading before commencing, but also preceding every daring deal to ensure that they don’t lose money unnecessarily and trade as profitable as possible.

With TRADER.ONLINE they have access to a financial news section with the most trending news and its impact on markets, as well as a range of short videos on the Trader Insight section that provide a quick way to stay updated.

TRADER.ONLINE offers a weekly Economic Calendar, a weekly and daily market update, regular webinars, charting tools and some eBook and guides on Forex.

Awards

Being an awarded company instils extra confidence by traders.  Although TRADER.ONLINE is acclaimed by customers, there is no indication of awards won on its homepage.

Conclusion

Trader.Online is a legit forex trading company and is a fully regulated and transparent broker with high operational standards, low trading fees, superior service delivery, helping investors reach their objectives. It caters for all types of traders with different levels of experience.

TRADER.ONLINE is an unregistered and unregulated offshore broker. Spreads are very high too. TRADER.ONLINE does provide a demo account to test their services and comprehensive educational content.

Disclaimer

TRADER.ONLINE warns potential customers that Forex and CFDs trading always carries a high risk and may not be suitable for all investors.

Before deciding to trade with TRADER.ONLINE, 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.

TRADER.ONLINE warns that margin trading involves the potential for profit as well as the risk of loss and that movements in the price of foreign exchange and commodities are very unpredictable, hence TRADER.ONLINE cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.

FAQs

Trading environment

How many instruments can I trade with TRADER.ONLINE?

You can trade several different instruments with TRADER.ONLINE, which include:

Futures

Currencies

Commodities

Stocks

Which platforms are supported by TRADER.ONLINE?

TRADER.ONLINE provides the following popular trading platforms:

Simplex

Custom (Forex)

Does TRADER.ONLINE offer leverage?

Yes, TRADER.ONLINE offers a maximum leverage of up to 1: 100.

What spreads can I expect with TRADER.ONLINE?

TRADER.ONLINE web based Forex platform is fixed at 2 pips, and it offers a second web based platform – Simplex, on which they say they are taking a 0,1% commission.

Does TRADER.ONLINE charge commission?

All CFDs trading are subject to a commission when a trade is executed. The minimum commission charged is $5.

Is TRADER.ONLINE regulated and by whom?

TRADER.ONLINE is not regulated.

Is TRADER.ONLINE a recommended forex trading broker for experts and beginners?

TRADER.ONLINE offers a fair trading environment for most types of traders.

What is the overall rating out of 10 for TRADER.ONLINE?

4/10

Accounts

What is the difference between a demo and live trading account?

A demo account as is offered by broker companies like TRADER.ONLINE is usually funded with virtual money and gives a prospective customer the opportunity to experiment with the company’s trading platforms and its features, before setting up a real account which needs to be funded with the customers own real money.

Does TRADER.ONLINE offer a demo account?

Yes

How long is the demo account valid?

There is no indication on the website how the demo account can be used

Which live trading accounts does TRADER.ONLINE offer?

Take-Off Account

Booster Account

Uplift Account

What are the available deposit currencies for a live trading account?

EUR, USD and GBP

Deposits and withdrawals

What is the minimum deposit required to open an account with TRADER.ONLINE?

$ 250

How do you make a deposit and withdraw money with TRADER.ONLINE?

TRADER.ONLINE offers the following deposit and withdrawal methods:

Bank wire

Credit cards like VISA and MasterCard

i-Payments

The same method that was used to fund an account must normally be used to withdraw money.

Does TRADER.ONLINE charge withdrawal fees?

The broker charges a commission which varies based on the method used to withdraw funds.

How long does it take to make a withdrawal?

The broker may take up to five days to process withdrawals.