Today, we are going to review AnyTrades, they claim to be a global leader in the Forex industry, and we will put this to the test. We will share with you some of the pros and cons that AnyTrades has as a broker and give our final verdict after testing their platform for 1 week.
Established in 2016, AnyTrades is authorized and regulated by the Vanuatu Financial Services Commission (VFSC) and according to its website it serves clients in more than 100 countries. However, three years is not such a long period and the final judgement is still to come.
The platform runs on a web browser without any installation, so customers have access from any device. However, a desktop version is not available. The first impressions are for a simple and easy to use platform dedicated to the ordinary customer who can trade more than 1000 financial instruments. Currency pairs, crypto currencies, indices, shares, commodities and ETFs are available for deals. There is also a mobile application for smartphones. It can be downloaded in AppStore and Google Play.
What broker AnyTrades is:
AnyTrades claims to be a Straight Through Processing (STP) broker, not a market maker. Market makers usually are counterparts in customers deals and they make money from their losses as well. STP brokers neither aggregate positions, nor act against their clients. That’s why the fulfillment of orders is extremely fast. However, market makers have more competitive spreads.
Accounts and order execution:
The company claims to have servers all over the world. AnyTrades is one of the few brokers offering guaranteed stop loss orders during business hours. Moreover, traders cannot owe money due to negative balance protection. However, Order execution policy shows order fulfillment with slippage if the market is volatile. AnyTrades offers three types of accounts depending on the funds. Spreads for majors start from 2.1 pips in Silver account and narrow to 0.9 pips in Platinum, which also provides personalised trading signals and strategies. Clients who prefer crypto trading however will find out not so narrow spreads.
Customers can use some features such as built-in real-time news, economic calendar, and a lot of technical indicators. However, drawing lines or making some analysis is somewhat uncomfortable. Charts are friendly and show real-time bid or ask prices in different time frames. There are bar, line or candle charts. However, there is some delay in price changes and no measuring tool is provided. Beginners can grab the opportunity to copy successful investor deals through the Social Trading feature. Unfortunately, only basic options of copying are available.
AnyTrades own platform is simple and provides all the necessary options for trading, however more experienced traders would prefer brokers which offer the MetaTrader platform, which is not available here.