Seventy Brokers
Pros and Cons
Pros
- Diverse range of market instruments including Forex, commodities, stocks, and cryptocurrencies
- Utilizes MetaTrader 5 platform for advanced trading capabilities
- Multiple account types catering to different trader preferences
- High leverage options available across account types
- Accessible deposit and withdrawal methods including bank transfers and e-wallets
Cons
- Not regulated by any recognized financial authority
- Claims of regulatory oversight appear misleading
- No verified fund protection measures in place
- Limited educational resources for new traders
- Negative user feedback regarding withdrawal issues
Basic Information
User Reviews
Seventy Brokers Overview
Seventy Brokers, founded in 2021, is headquartered in Singapore under the name Seventy Investech (Vanuatu) Co., Limited. The broker operates with a registered status in Vanuatu and has been in the industry for 5-10 years. While it claims to be regulated by several authorities, including the National Futures Association (NFA), there are significant concerns regarding the authenticity and validity of these licenses, raising questions about its regulatory standing.
Is Seventy Brokers Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| National Futures Association (NFA) | United States | No verified fund protection measures |
| Vanuatu Financial Services Commission (VFSC) | Vanuatu | No verified fund protection measures |
Is Seventy Brokers Regulated and How Are Client Funds Protected?
Seventy Brokers is not regulated by any recognized financial authority. Although it claims to be regulated by the National Futures Association (NFA) and the Vanuatu Financial Services Commission (VFSC), these claims are unverified and appear misleading. The lack of credible regulatory oversight raises significant concerns about the safety of funds deposited with this broker. Clients have little recourse in the event of disputes or financial losses, as there are no verified fund protection measures in place. Furthermore, the absence of robust regulatory frameworks typically associated with reputable brokers means that trading with Seventy Brokers could expose investors to higher risks, including potential loss of capital and difficulties in accessing funds.
Trading Products and Services
What trading instruments does Seventy Brokers offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major Pairs / Examples | Varies |
| Commodities | Gold, Oil | Varies |
| Indices | S&P 500, NASDAQ | Varies |
| Stocks | US, UK | Varies |
| Cryptocurrencies | BTC, ETH | Varies |
Seventy Brokers offers a diverse range of trading instruments, catering to various trader preferences and strategies. With access to Forex, commodities, indices, stocks, and cryptocurrencies, traders can engage with multiple asset classes to enhance their portfolios. This diversity is particularly valuable for different types of traders, from beginners looking to explore basic markets to experienced investors seeking complex strategies. By supporting multiple asset categories, Seventy Brokers enables users to diversify their investments and adapt their trading strategies according to market conditions, ultimately enhancing their trading experience.
Account Types and Trading Conditions
What Account Types and Fees Does Seventy Brokers Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| X-Leverage Account | Beginners | Accessible entry point with low minimum deposit | Minimum deposit of USD 100 |
| CFD Clearing Account | Intermediate traders | Variety of instruments with negotiable terms | Negotiable minimum deposit |
| Premium Integrated Account | Advanced traders | Higher leverage options | Requires minimum deposit of USD 10,000 |
| Stock CFD Account | Stock traders | Competitive spreads for stock trading | Minimum deposit of USD 2,000 required |
| Integrated Account (BTC Based) | Cryptocurrency traders | Focus on digital assets | Minimum deposit of BTC 0.005 |
| Integrated Account | General users | Standard trading options | Minimum deposit of USD 100 |
Account Opening Process
To open an account with Seventy Brokers, follow these steps: Start by visiting the official Seventy Brokers website. Click on the “register” or “sign up” button to initiate the registration process. Fill in the registration form with your personal information, including your full name, date of birth, email address, phone number, and residential address. Select the type of trading account that best suits your needs. Create a strong password for your account, ensuring it meets the platform’s security requirements. Carefully read and accept the terms and conditions, privacy policy, and any other legal agreements. Complete the identity verification process by providing necessary documents, such as a government-issued ID and proof of address. After successfully completing these steps, your Seventy Brokers account should be open and ready for funding and trading. Note that you can later upgrade to a professional account if desired.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | 0.2 | $0 | Tight spreads for major pairs |
| CFDs (Stocks, Indices, Commodities) | Varies | $0 | Competitive spread options available |
| Cryptocurrencies | Varies | $0 | Variable spreads depending on market conditions |
Other Fees
Other fees associated with Seventy Brokers include deposit and withdrawal fees, which may apply depending on the payment method chosen. Inactivity fees may apply if the account remains unused for a specified period. Platform usage fees are not applicable. Overnight interest (swap rates) may be charged based on the positions held overnight. Additionally, currency conversion fees may apply for accounts holding different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does Seventy Brokers Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 5 (MT5) | Windows, macOS, iOS, Android | Secure login (encryption), multiple order types, technical indicators, customizable charts | Demo accounts, algorithmic trading support |
| Web Version | Any device with internet access | Secure access, market search, price alerts | None specified |
| Mobile App | iOS, Android | Convenient login, price alerts, one-click trading | None specified |
Seventy Brokers utilizes the MetaTrader 5 platform, which is well-suited for traders seeking advanced trading tools and multi-asset capabilities. The web version offers accessible trading options for users without dedicated software, while the mobile app ensures that traders can manage their accounts and receive real-time alerts on the go. Each platform emphasizes secure logins and efficient order execution, supporting a range of trading strategies across different devices.
Overall, the offerings from Seventy Brokers align with the needs of diverse traders, providing both desktop and mobile solutions for effective trading management and analysis.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 days | No platform fee | Min $100, Max $10,000/day | USD, BTC |
| Credit/Debit Card | Instant | No platform fee | Min $100, Max $5,000/day | USD |
| Cryptocurrency Transfer | Variable, depends on network | No platform fee, but network fees may apply | Min BTC 0.005, Max BTC 1/day | BTC, ETH |
| e-Wallet (e.g., Skrill, Neteller) | Instant | 1.5% transaction fee | Min $50, Max $20,000/day | USD |
Minimum Deposit
Seventy Brokers requires a minimum deposit of USD 100 for most account types, though specific accounts may have different requirements. The minimum deposit amount can vary based on the payment method selected and the type of account being opened.
How to Withdraw
To withdraw funds from your Seventy Brokers account, follow these steps:
- Log in to your Seventy Brokers account.
- Navigate to the “Withdrawal” section in your account dashboard.
- Select your preferred withdrawal method from the available options.
- Enter the amount you wish to withdraw, ensuring it meets the minimum and maximum limits.
- Confirm your withdrawal request and review any applicable fees.
- Submit your request and wait for processing, which may take varying amounts of time depending on the method chosen.
Customer Support
Seventy Brokers Customer Support Overview
Support Channels
Seventy Brokers offers various customer support options to assist clients effectively. Traders can reach the support team through the following channels:
- Email: Clients can send inquiries or requests for assistance to info@seventybrokers.com.
- Telephone: Customer support is also available via phone at +1 (856) 421 – 5844 for direct assistance.
- Live Chat: While specific live chat services are not mentioned, potential users can inquire about real-time support options on the broker’s website.
- Social Media: Clients may also find support through the broker’s social media channels, if available.
Service Availability
Seventy Brokers provides customer support during standard business hours. While the exact schedule is not specified, it is recommended to reach out during typical trading hours for prompt responses. Multilingual support is available, catering to clients in English and possibly other languages, enhancing accessibility for a diverse clientele.
Additional Resources
Although Seventy Brokers primarily focuses on trading services, they may provide limited educational resources, such as market analysis or trading signals, to help clients enhance their trading strategies. However, the availability and extent of these resources should be confirmed through direct inquiry with the support team.
Frequently Asked Questions
Seventy Brokers claims to be regulated by the National Futures Association (NFA) and the Vanuatu Financial Services Commission (VFSC), but these claims are unverified. There are significant concerns regarding the authenticity of these licenses, which raises questions about the safety of funds deposited with this broker. Clients have little recourse in the event of disputes or financial losses as there are no verified fund protection measures in place.
Seventy Brokers offers a diverse range of trading instruments, including Forex, commodities, indices, stocks, and cryptocurrencies. This variety caters to different trader preferences and strategies, allowing traders to engage with multiple asset classes and enhance their portfolios.
Seventy Brokers provides multiple account types, including the X-Leverage Account for beginners, CFD Clearing Account for intermediate traders, Premium Integrated Account for advanced traders, Stock CFD Account for stock traders, and Integrated Accounts focused on cryptocurrencies. Each account type has specific characteristics and minimum deposit requirements tailored to different user groups.
Seventy Brokers offers several customer support options. Clients can reach the support team via email at info@seventybrokers.com or by telephone at +1 (856) 421 – 5844. While specific live chat services are not mentioned, clients can inquire about real-time support options on the broker’s website. Customer support is available during standard business hours, and multilingual support may be offered.
Related Forex Brokers
Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.