70trades, is it a Scam?

Honestly, why the name 70trades? For a trading broker, the name may sound unrealistic or weird altogether.  Well, they have a well-articulated explanation for that.

Apparently, after thorough research, they concluded that it takes a trader approximately 70 trades for you to begin seeing positive results on your investment. Whatever the case, this doesn’t mention that the broker is clean. On the same situation, we shouldn’t judge that it’s scam without evidence. Putting all factors in mind, we’ve got the answer.

A little history and operation.

The broker started in 2016 and was developed by a team of experienced programmers with trading experience. Since then, it has registered quite a considerable growth. The account is currently active with a high amount of trades that have seen enormous profits.

The main difference is that it’s designed for traders who are just starting. It makes use of a smart bot that is a good option for beginners who want to start trading forex but are not ready to learn more complex forex strategies. If you’re learning forex and want to trade, 70trades will be an excellent introduction for you.

What are the pros?

• It provides the best forex trading experience and helps beginners to start their forex trading with a straightforward approach.
• It works with a variety of currencies and markets.
• You don’t have to install or download anything.

The cons

• The platform doesn’t work in low-volume markets. But these markets don’t present excellent opportunities anyway.
• It requires that you sign up and pass KYC.

70trades is a good option because it has a low cost and puts a moderate amount of trades. It does not only allow you to trade spot but also to buy and sell futures as well. All transactions are conducted using real-time data, so the order execution latency is minimal. It also allows you to trade using only a simple API, not using the broker’s user interface.

Some of the outstanding Features

What you’ll fall in love with is the ease of using the platform. Therefore, it allows you to create and manage your strategies. The tools are an essential part of this platform because they ensure that everything works smoothly. All traders can initiate, monitor and analyze trades. You can set up your strategies, create and track your portfolio, and manage it from there.

The developers designed the platform to use smart bots that are trained on tick-by-tick data. The basic account is free, but there is also a premium plan which you can check out. Experienced machine learning specialists train these smart bots. If you don’t have the cash to spend on bots, then the platform still offers a free account with the same parameters, but it lacks the functionality, and the auto-training feature is disabled.

How the platform works

You get a premium plan comes with a premium customer service. Premium plan has all of the smartbot-related features, so if you have money to spend, then you can get more value from the platform. You can run as many bot instances as you want.

The company currently has three tiers of services. You can get the most basic tier, which has essential bot training services and basic analytics. You can also have a more advanced tier, which has advanced analytics and smartbot-based trade execution services. The most expensive level is a premium tier that will have not only bot-based trading analytics services and trade execution services, but also premium customer support.

You can check your trading history. You can create a report that looks the same as the ones provided by other brokers. You can also easily create a trading plan and execute a trade automatically.

70trades features an easy to use interface, which can be used by experienced and novice forex traders. It has many options available for beginners such as strategy designer, trading calculator, trading history, real-time chart.

Conclusion

70trades is one of the most popular forex trading accounts on the internet. Professionals use it as its interface was developed by a team of people that is experienced in trading. For now, the pros overall the con. But you can try it out to know if your experience will resonate with what you’ve read.