Brokereo review: How does the new CFD broker from Cyprus perform?

In this article we will examine the CFD broker Brokereo and see if the broker is a trusted and safer option.

About Brokereo

Brokereo.com domain is operated by Concorde Investments (Cyprus) Ltd, authorized and regulated by the Cyprus Securities and Exchange Commission (License number 189/13). The head office is located at Pavlou Nirvana No.4, ALPHA TOWER, Office N.13, 3021 Limassol, Cyprus. Users can choose from 3 account types at Brokero: Silver, Gold and Platinum to trade more than 300 CFD financial instruments. The portfolio includes more than 30 cryptocurrency CFDs as well as currency pairs, commodities, stocks, indices and metals. Each account type has different features and benefits, with the platinum account offering the lowest spreads starting at 0.3 pips.

Trading on Brokereo is done using the world-renowned trading software MetaTrader 4, with a web version and a mobile trading application. Users also have access to a wide range of research and training resources, including eBooks, quotes, tutorials, daily news articles and videos. Furthermore, customer support is available Monday through Friday from 8:00 to 17:00 GMT (Silver account).

Main info

�?Website address: https://www.brokereo.com
�?CFDs: currency pairs, cryptocurrencies, commodities, shares, indices and metals
�?Leverage: up to 1:30 (for retailers), up to 1:500 for professional traders
�?Minimum deposit: from $250
�?Demo account: Yes, free of charge
�?Deposit and withdrawal methods: credit cards (Visa, Mastercard, Maestro, V Pay), bank transfer, Neteller and Skrill

**Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 

Is Brokereo trustworthy and secure?

An essential question when choosing a broker is whether the broker is secure and trustworthy. An important indication of this is always the issue of a license by a financial supervisory authority. Brokero can refer a license from the Cyprus Securities and Exchange Commission, better known as CySEC, which is the financial supervisory authority of the European country of Cyprus. The Authority ensures supervision, maintenance of sufficient capital, regular audits and security of client deposits.

In addition, the CySEC ensures that the broker does not interfere in fraudulent activities, while the users’ deposits and their profits are kept separate from the company’s business accounts. Furthermore, Brokereo offers protection against a negative balance. The moment your account balance reaches zero, the Broker automatically closes the position, so you cannot slip into the negative. Another advantage of the CySEC regulation is that there is an equalization fund in case Brokereo has to close unexpectedly.

With regard to the security of the web site, Brokereo uses secure SSL encryption to protect all data during transmission. All transactions are transmitted by first level PCI compliance services to securely store and manage all information entered. This ensures that all sensitive information is secure during the entire use of the website.

Account types at Brokereo

At Brokereo you can choose between three types of accounts. All accounts have in common that there are no deposit limits, no deposit fees and offer over 350 different CFDs. The maximum leverage for retailers goes up to 1:30. If you choose a professional account, the leverage goes up to 1:500. There are also significant differences in spreads, which decrease significantly if you choose a Gold or Platinum account:

Silver account

• Max. FX leverage: 1:30 (for retailers)
• Spreads starting from 1.0
• More than 300 assets
• 24/5 support

Gold account

• Max. FX leverage: 1:30 (for retailers)
• Spreads starting from 0.4
• More than 300 assets
• Account Manager

Platinum account

• Max. FX leverage: 1:30 (for retailers)
• Spreads starting from 0.3
• More than 300 assets
• Account Manager

Platforms for trading on Brokereo

WebTrader

Brokereo’s WebTrader is a browser version of MetaTrader 4, which means that you have the best trading features and tools that the MT4, widely used in the industry, offers to its users, whether it is thousands of technical indicators or automated scripts. With WebTrader you can analyze the different financial markets and access the various charting tools and a watch list in the standard workspace, as well as use automated trading. You can also contact the customer support and enjoy the full functionality of MT4.

Mobile Trader

Brokereo’s mobile app is available for iOS and Android devices and is designed to make trading quick and easy. The app offers real-time streaming quotes with built-in charts, technical indicators, trade alerts and push notifications. Similar to the WebTrader, the Mobile Trader is also based on the MT4 software.

Available CFDs on cryptocurrencies

Brokereo offers 30 different CFDs on cryptocurrencies , which can be traded either in US dollars (USD), euros (EUR) or the British pound (GBP). The great advantage of CFDs over “real” cryptocurrencies is that you do not bear the risk of storage. This means that you do not have to worry about keeping them in a wallet. Below you will find the list of available crypto CFDs:

Trade crypto CFDs on Brokereo

Fees

First of all, Brokereo does not charge any deposit fees or commission. However, the following additional fees may apply:

• Spreads: the difference between the purchase price (price) and the sale price (rate) of the financial instrument on the same date. The spread is dynamic and can be a factor that influences liquidity on external markets and the pricing of competitors.
• Rollover fee: charged daily. In case a spot foreign exchange transaction or CFD transaction is not closed by the client before 21:00 GMT on the business day, a rollover fee is charged. This is a common practice among brokers.
• Inactivity Fee: For accounts with no trading activity, an administration/maintenance fee is charged on a monthly basis to keep such an account available.

The monthly inactivity fee for 61 to 90 days is 80 EUR per month. The account will then be retroactively debited with 80 EUR for each month of management or the equivalent amount in the client’s currency according to the exchange rate of the stock exchange on that day. For example, for 2 months the fee is 160 EUR = (80 EUR ×2). The fee increases according to the duration of inactivity as follows:

• 91 to 180 days: 120 EUR per month or the equivalent in the client’s currency according to the exchange rate on that day
• 181 to 270 days 200 EUR per month or the equivalent in the customer’s currency according to the exchange rate on that day
• Over 271 days 500 EUR per month or the equivalent in the customer’s currency according to the exchange rate on that day

Payment methods

At Brokereo you can choose from many different payment methods, namely: credit cards (Visa, Mastercard, Maestro, V Pay), bank transfer, Neteller and Skrill.

Conclusion

Our research has shown that Brokereo is a serious and secure CFD broker. On the one hand, Brokereo is characterized by a very robust legal framework. The Broker is regulated by the Cyprus Securities and Exchange Commission (CySEC), which is a well known and trusted European regulator. On the other hand, Brokereo offers a large number of CFDs and, with MetaTrader 4, a powerful, industry standard trading software. On the platform, 30 different cryptocurrencies can be traded as CFDs, as well as CFDs on forex, cryptocurrencies, commodities or shares, with leverage for professionals up to 1:500.

**Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.