Galore Pro Ethereum Broker Review
Ethereum Trading Online
Galore Pro Ethereum Broker | Ethereum Trading Online
Galore Pro Ethereum Broker has been offering Ethereum ( ETH) as one of their cryptocurrencies. ( BTC, LTC XRP also).
Is galore pro the right broker for you and do they offer trading in Cryptocurrencies ?
Galore pro offers trading services for several cryptocurrencies, one of them is ethereum. you will be able to trade this on different platforms making it is true cryptocurrency broker
So let’s start talking about this broker in our Galore pro Review
Ethereum Trading conditions with Galore Pro
|Instrument||Units||Spread||Margin Requirements||Leverage||Swap||Roll_buy – Roll Sell|
|ETHEUR||ETH||Fixed: 1.940000000||20,00%||1:05||Short: 0, Long: 0||-0.109999999404|
|ETHUSD.||ETH||Fixed: 2.230000000||20,00%||1:05||Short: 0, Long: 0||-0.119999997318|
The broker offers two different currency pairs for trading Ethereum but offers this in 2 formats.
Fixed and Variable
You can trade the ethereum ( ETH) against the USD, against the Euro.
The trading conditions for both currency pairs are the same except for the spread. The margin requirements are 20%, and the leverage is 1:5, which is around the markets average.
Cryptocurrencies trading is much like trading forex; you trade one currency against the other in a pair. In this case, it is a digital asset that you trade against a fiat asset.
Trading ethereum is for those traders or investors that are not looking to buy Cryptocurrency Coins but do want to get involved in the cryptocurrency market.
You do not buy the asset traded, but you trade on the movement that cryptocurrency makes when it rises and falls in this volatile and exciting market. Its market share only becomes more significant with every passing month.
You can go long or short when you trade with Galore Pro, and they charge no swap fee making it at the same time also Islamic trading account.
Galore pro Trading for the Forex market or other cryptocurrency trading is possible under similar trading conditions.
Galore Pro Broker ~ is Galore Pro a scam or a Legit Broker?
Galore Pro Forex trading has started its operation last year and already has become a trustworthy name in the industry. There are currently as yet not many Galore pro’s reviews out there besides, of course, this Galore Pro review.
Their operation and investment have been done through a reputed brokerage with years of experience in the industry. They launched in English, but we know that they will slowly enter other markets like the Russian and German Market. They decided to grow organically instead of investing huge sums in marketing without the operation to back it up.
Galore Pro Website
The website follows the latest European guidelines and is well designed.
Not too much content as a trader that opened an account tends to enter the site only once and afterwards goes to the Galore pro login link at the middle top of the website. But there is enough information to understand what the broker has to offer.
Additional information can be found on the galore pro blog.
You will find all the information you need.
Galore Pro Trading Platforms.
The trading platform you will be able to trade with is the MetaTrader 4 trading platform
. This is the most established trading platform in the world developed by the reputed software company called MetaQuotes.
This platform is one of the better trading platform solutions on the market today, and you will be able to trade this directly from your desktop on the web or even on your Mobiel.
Galore Pro Webtrader
then there is also the webtrader they offer, this from Tradersoft and is an intuitive trading platform for traders of all levels.
Galore Pro review of their Trading accounts
Galore Pro offers four different account levels; these levels depend on your investment and what you hope to accomplish.
Besides these four accounts, they also offer a Galore Pro Islamic account which is without swap fees and commissions and a Galore Pro demo account which gives any client virtual funds to test their systems and their strategies. This account is created automatically for all traders that open an account.
the minimum deposit is $250, and from there it goes straight away to $2,500 for the next account.
Galore Pro review : Leverage
Leverage is the facility that enables you to get a much larger exposure to the market you are trading than the amount you deposited to open the trade. Leveraged products, such as forex trading, magnify your potential profit – but also increase your potential loss.
Leverage is expressed as a ratio, for instance 50:1, 100:1, or 200:1. Assuming that you have $1,000 in your trading account and you trade ticket sizes of 200,000 USD/JPY, your leverage will equate 200:1.
Margin is the amount of collateral to cover any credit risks that may arise during your trading operations. It is expressed as the percentage of position size (e.g. 5% or 1%), and you have to have funds in your trading account to ensure sufficient margin.
For example, on a 1% margin a position of $1,000,000 will require a deposit of $10,000. The margin level in a trading account needs to be equal or more than 100% to be able to open new trades, otherwise your trading account will be fully hedged.
Galore Pro review : How to Open an Account
The Galore pro review process of opening a new account is fully digital, hassle-free and fast.
Similarly to a bank, if you want to register a Forex trading account with Galore pro review for the first time, you will be required to go through a basic “know your customer” process.
This will allow Galore pro to make sure that your submitted personal details are correct and the safety of your funds and your account details are ensured.
After the initial registration you will normally be emailed your login details that will correspond to a login on a trading platform matching your type of account.
It takes less than a minute to complete the initial sign-up stage where you have to supply details like your first and last name, citizenship, email address and mobile number and choose a password.
New traders can open a demo account or live Galore pro account to start trading.
After completing the registration process, you will be taken to an overview page of your account where you can click on the “New Demo Account” button, where you will further be provided with an account number which will also serve as your demo account username.
Galore Pro review : Customer Support
Potential traders need to make sure the broker they choose will offer support whenever they may need it, in order to help customers easily find the exact answers to their questions and offer them the best user experience.
In the case of Galore pro, customer support is available 24/7. Customer support is offered in English, German, Russian, Italian 24 hours a day, 5 days a week through Live Chat, Phone and Email