Introduction
Raise-Trade is a broker firm that provides a platform for trading in a variety of financial instruments. The firm offers services in forex trading, commodities, indices, and cryptocurrencies. This review will delve into the features, benefits, and possible downsides of using Raise-Trade as your broker.
Trading Platform
Raise-Trade utilizes the MetaTrader 4 platform. MT4 is a widely recognized and respected trading platform, offering various features such as real-time market quotes, advanced charting tools, and automated trading options.
However, while MT4 is an excellent platform, some traders may find it a bit dated compared to newer platforms like MetaTrader 5 or cTrader. It’s also worth noting that Raise-Trade does not seem to offer a proprietary platform, which could be a disadvantage for those looking for unique features or a more personalized trading experience.
Account Types
Raise-Trade offers several types of accounts to cater to different types of traders. These include Standard, Premium, and VIP accounts. Each account type comes with its own set of features and benefits, with higher-tier accounts offering lower spreads and more personalized service.
Standard Account
The Standard account is the entry-level account at Raise-Trade. It offers access to all trading instruments and comes with a dedicated account manager. However, the spreads in this account type are relatively high, which may eat into your profits.
Premium Account
The Premium account comes with lower spreads and a dedicated senior account manager. This account type also offers free trading signals, which can be a valuable tool for traders.
VIP Account
The VIP account is the highest tier account at Raise-Trade. It offers the lowest spreads, a personal VIP manager, and premium trading signals. However, this account requires a significant minimum deposit, which may not be feasible for all traders.
Customer Support
Raise-Trade provides customer support via phone and email. The company claims to offer 24/5 support, which is standard in the forex industry. However, there are some negative reviews online about the quality and responsiveness of their customer support, which is a concern.
Regulation
One of the significant downsides of Raise-Trade is the lack of clear information about its regulatory status. The company does not provide any information about its license or regulation on its website, which raises questions about its credibility and reliability. Trading with an unregulated broker carries significant risks, including the possibility of losing your entire investment.
Conclusion
In conclusion, Raise-Trade offers a range of trading instruments and account types, catering to various types of traders. However, the lack of clear regulatory information and negative reviews about its customer support make it difficult to fully endorse this broker. As always, traders are advised to conduct thorough research and consider multiple factors before choosing a broker.
I had a terrible experience with Raise-Trade. Their customer service was unresponsive and unhelpful when I had questions or issues. The platform was also glitchy and difficult to navigate. I would not recommend using this broker for your trading needs.