I am intrigued and cautiously optimistic about a new (new to me at least) broker offering the MT4 trading platform, seemingly tight spreads, $500 minimum account, mini accounts with decent leverage, hedging, none of the recent spate of USA regulatory nanny-state "we know what's good for you as a retail trader" nonsense or other interferences in my private business decisions.
They call themselves inovaTrade and are claiming customers in over 100 countries.
They are billing themselves as being (quoting their website here) "Based in Panama, land of confidentiality, They are saying that they place great importance on individual’s rights and therefore appl(y) strict professional ethics."
There are no additional commissions charged other than that built into the spread. Spreads seem remarkably tight.
They have offices in Panama City, Miami, FL, the UK and Hong Kong. They report that they are regulated by the Panamanian Stock Exchange Commission.
While English is not their primary language, I have had both online chat and phone contact conversations with them in English with no difficulty. They have hired competent bi-lingual (English and Spanish) and other languages are spoken by staff.
They are claiming that they have 73 servers for their live traders and that those servers are located in NYC. When I commented that was a lot of servers for a five year old company and asked if that was actually their interbank partner connections, the company representive at their listed phone number replied no, that is our server count for customer connections. They report 26 bank feeds for their STP/ECN quotes.
They are not a market maker in the sense of taking the other side of your trade (no desk dealing execution). They pass the trades through directly to the interbank network which they claim is some 26 banks. The rep provided me with a partial list of those banks.
They state that there are no time limits with their demo accounts.
You can denominate your account in USD, GBP, EUR, CHF, and JPY which is really pretty cool if you don't want to be tied to the sliding USD.
I would be interested in having others contribute here who would have queries of their own or who would have factual knowledge to share with the trading community.
On line reviews are scant. Two satisfactory reviews at 100Forex Brokers http://www.100forexbrokers.com/revie...ngs/inovatrade
Nothing found on Forex Factory Forums, Forex Peace Army or Forex 4 Noobs or at other less well known forex broker rating services.
I could not find any other domains hosted on their IP address.
The purpose of this thread to build on this knowledge base about this forex dealer and to exchange factual information about them and their services. This FFF user is not affiiated with, nor employed by, nor do I receive any compensation from them for any purpose. My interest in them is solely to use this forum to more fully vet them as a possible data and trade order interchange provider.
They call themselves inovaTrade and are claiming customers in over 100 countries.
They are billing themselves as being (quoting their website here) "Based in Panama, land of confidentiality, They are saying that they place great importance on individual’s rights and therefore appl(y) strict professional ethics."
There are no additional commissions charged other than that built into the spread. Spreads seem remarkably tight.
They have offices in Panama City, Miami, FL, the UK and Hong Kong. They report that they are regulated by the Panamanian Stock Exchange Commission.
While English is not their primary language, I have had both online chat and phone contact conversations with them in English with no difficulty. They have hired competent bi-lingual (English and Spanish) and other languages are spoken by staff.
They are claiming that they have 73 servers for their live traders and that those servers are located in NYC. When I commented that was a lot of servers for a five year old company and asked if that was actually their interbank partner connections, the company representive at their listed phone number replied no, that is our server count for customer connections. They report 26 bank feeds for their STP/ECN quotes.
They are not a market maker in the sense of taking the other side of your trade (no desk dealing execution). They pass the trades through directly to the interbank network which they claim is some 26 banks. The rep provided me with a partial list of those banks.
They state that there are no time limits with their demo accounts.
You can denominate your account in USD, GBP, EUR, CHF, and JPY which is really pretty cool if you don't want to be tied to the sliding USD.
I would be interested in having others contribute here who would have queries of their own or who would have factual knowledge to share with the trading community.
On line reviews are scant. Two satisfactory reviews at 100Forex Brokers http://www.100forexbrokers.com/revie...ngs/inovatrade
Nothing found on Forex Factory Forums, Forex Peace Army or Forex 4 Noobs or at other less well known forex broker rating services.
I could not find any other domains hosted on their IP address.
The purpose of this thread to build on this knowledge base about this forex dealer and to exchange factual information about them and their services. This FFF user is not affiiated with, nor employed by, nor do I receive any compensation from them for any purpose. My interest in them is solely to use this forum to more fully vet them as a possible data and trade order interchange provider.
