Elland Road
Pros and Cons
Pros
- Regulated by Financial Sector Conduct Authority (FSCA)
- Diverse trading instruments including forex, commodities, indices, stocks, and cryptocurrencies
- Access to popular trading platform MetaTrader 4
- Multiple account types catering to different trader levels
- Customer support available via email, phone, and live chat
Cons
- Mixed reviews regarding withdrawal processes
- Reported issues with service quality
- High minimum deposit requirement for certain account types
- Limited educational resources and training materials
- Negative feedback on customer support responsiveness
Basic Information
User Reviews
Elland Road Overview
Elland Road, officially known as ELLAND ROAD CAPITAL (PTY) LTD, is a forex broker based in South Africa, operating for approximately 2-5 years. The broker is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, which ensures that it adheres to the necessary legal standards for financial services within the region. As a regulated entity, Elland Road aims to provide a secure trading environment for its clients.
The broker offers a diverse range of trading instruments, including forex, commodities, and indices, catering to various trading preferences. Elland Road features the popular MetaTrader 4 trading platform, providing users with essential tools for executing trades and analyzing market trends. Customer support is available through multiple channels, ensuring assistance is accessible when needed. However, potential traders should be aware of the mixed reviews and reported issues regarding withdrawal processes and service quality, making it crucial to conduct thorough research before engaging with the broker.
Is Elland Road Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Financial Sector Conduct Authority (FSCA) | South Africa | Segregated Funds |
Is Elland Road Regulated and How Are Client Funds Protected?
Elland Road Capital (PTY) LTD is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, holding a valid license number 52127. This regulatory oversight aims to ensure that the broker adheres to established legal standards for financial services, promoting a secure trading environment for clients. Client funds are protected through the practice of segregating client accounts, which helps safeguard traders’ capital from operational risks. However, while the regulatory framework is in place, potential traders should note that there have been mixed reviews regarding withdrawal processes and overall service quality. It is advisable to approach with caution and conduct comprehensive research before engaging with the broker.
Trading Products and Services
What trading instruments does Elland Road offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major Pairs (e.g., EUR/USD, GBP/USD) | Many |
| Commodities | Gold, Oil | Many |
| Indices | e.g. S&P 500, NASDAQ | Many |
| Stocks | e.g. US, UK | Many |
| Cryptocurrencies | e.g. BTC, ETH | Many |
Elland Road offers a diverse selection of trading instruments, catering to a wide range of trader preferences. The available asset categories include Forex, commodities, indices, stocks, and cryptocurrencies. This variety allows traders, from beginners to professionals, to engage in different market conditions and develop flexible trading strategies. By providing access to multiple asset types, Elland Road enhances portfolio diversification, enabling traders to adapt their approaches based on market trends and their individual investment goals. Whether you are looking to trade in forex or explore the commodity markets, Elland Road aims to meet the needs of all types of traders.
Account Types and Trading Conditions
What Account Types and Fees Does Elland Road Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Classic Account | Beginners | Access to all assets, leverage up to 1:400 | Minimum deposit of 100 units of account currency |
| Silver Account | Intermediate Traders | Similar to Classic with higher deposit for more trading opportunities | Minimum deposit is 20% of account currency |
| Gold Account | Experienced Traders | Lower spreads for major pairs | Minimum deposit is 20% of account currency |
| Platinum Account | Advanced Traders | Enhanced privileges and insights | Minimum deposit is 20% of account currency |
| VIP Account | Professional Traders | Lowest spreads and exclusive insights | Minimum deposit is 20% of account currency |
Account Opening Process
To open an account with Elland Road, follow these steps: Visit the Elland Road website and click on the “Create Account” button. Fill in your personal details including first name, last name, email, country code, phone number, and create a password. Review the information for accuracy and click on “Open Account.” After this, you will need to submit identity verification documents, including an ID and proof of address. The process allows for account flexibility, meaning you can upgrade to a professional account later if desired.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.9 – 2.5 | $0 | Spreads vary by account type |
| CFDs (Crude Oil) | $0.10 | $0.10 | Commission applies |
| Cryptos (BTC/USD) | Varies | Varies | Dependent on market conditions |
Other Fees
Elland Road may impose additional fees such as deposit and withdrawal fees based on the method used. There might also be inactivity fees charged if there are no transactions on your account for an extended period. Overnight interest charges may apply for holding positions overnight, along with currency conversion fees for trades that require it.
Trading Platforms and Apps
What Trading Platforms and Apps Does Elland Road Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 4 (MT4) | Windows, macOS, iOS, Android | 2FA, encryption, market search, multiple order types, price alerts, technical indicators | Demo accounts, VPS available |
| WebTrader | Web-based (any device with a browser) | Encryption, symbol lookup, one-click trading, price alerts | None specified |
| Mobile App | iOS, Android | Biometrics, push notifications, instant trading, charting tools | Demo accounts |
Elland Road provides various trading platforms, each catering to different trader needs. The MetaTrader 4 platform is suitable for traders seeking advanced features and extensive tools, while the WebTrader offers convenient access without downloads, making it user-friendly for all device types. Mobile trading through the dedicated app allows for trading on the go, ensuring traders can manage their accounts and receive real-time alerts efficiently. All platforms prioritize security, utilizing encryption and multi-factor authentication to protect user data. Furthermore, Elland Road supports a range of order types and offers demo accounts for practice trading, enhancing the overall trading experience.
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 50k | USD, ZAR |
| Credit/Debit Card | Instant | No platform fee, but 2.5% processing charge | Min 100, Max 10k | USD, ZAR |
| E-wallet (e.g., Skrill, Neteller) | Instant | No platform fee, 1.5% charge | Min 50, Max 20k | USD, ZAR |
Minimum Deposit
Elland Road requires a minimum deposit of 100 units of the account currency to open a trading account. This requirement remains consistent across various payment methods and account types.
How to Withdraw
- Log into your Elland Road account.
- Navigate to the ‘Withdrawal’ section in your account dashboard.
- Select your preferred payment method for the withdrawal.
- Enter the amount you wish to withdraw, ensuring it complies with the limits set.
- Review your details and confirm the withdrawal request.
- Monitor your account for confirmation and processing updates.
Customer Support
Elland Road Customer Support Overview
Support Channels
Elland Road provides several contact methods for customer support, ensuring that assistance is readily available. Clients can reach out via:
- Email: Customers can send inquiries to support@ellandroadcapital.com.
- Telephone: Support can be contacted directly at +27101572581.
- Live Chat: An option is available on the Elland Road website for instant communication.
Service Availability
The customer support team operates from Monday to Friday, providing service during the weekdays. Additionally, support options are designed to assist clients effectively, though it’s important to note that multilingual support is not explicitly mentioned in the available information.
Frequently Asked Questions
Yes, Elland Road Capital (PTY) LTD is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, holding a valid license number 52127. This regulatory oversight ensures adherence to legal standards for financial services.
Elland Road offers a diverse range of trading instruments, including forex, commodities (such as gold and oil), indices (like S&P 500 and NASDAQ), stocks (from the US and UK), and cryptocurrencies (including BTC and ETH).
Elland Road protects client funds by employing segregated accounts, which separate clients’ capital from the broker’s operational funds. This practice helps safeguard traders’ capital from potential operational risks.
Traders should be aware of mixed reviews regarding withdrawal processes at Elland Road. It’s essential to follow the withdrawal procedures accurately and be prepared for potential delays. Conducting thorough research and being cautious before engaging with the broker is advisable.
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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.