6iTrade Review 2024

What is 6iTrade?

6iTrade is an online trading platform that offers a wide range of trading options. It provides opportunities to trade in various asset classes, including Forex, Gold, Oil, Indices, and Cryptos. The platform is designed to cater to the trading needs of clients from all walks of life. One of its primary goals is international growth and acceptance. It offers different account types to suit the varying needs of its clients. 6iTrade prides itself on having industry-leading ideas and concepts. It aims to provide a simple and honest trading environment. The platform also places a strong emphasis on customer relations, believing that every interaction with customers influences their decision to return. Innovation is at the heart of 6iTrade’s operations. It strives to provide not just online trading, but a holistic, safe, and reliable environment. The platform is supported by dedicated, first-class staff with real industry knowledge. 6iTrade currently offers Contracts for Difference (CFDs) on the 5 major asset classes, including Forex, Metals, Cryptos, Indices, and Energies. It is continually searching for new reliable products that its clients will enjoy trading. The platform uses MetaTrader 4 (MT4) for Forex and CFD trading. MT4 is a popular trading platform that provides tools and resources that allow traders to analyze price, place and manage trades, and employ automated trading techniques. However, it’s important to note that trading Forex and CFDs is risky. Potential traders should be aware of this risk before deciding to trade on 6iTrade or any other platform. In conclusion, 6iTrade is a comprehensive online trading platform that offers a wide range of trading options. It is committed to providing a simple, honest, and innovative trading environment, backed by dedicated staff with industry knowledge.

What is the Review Rating of 6iTrade?

What are the Pros of 6iTrade?

6iTrade, a Vanuatu-based broker, offers several advantages in the context of forex trading. 1. Licensed in Vanuatu The company operating 6iTrade, 6iGroup Ltd., is licensed by the Vanuatu Financial Services Commission (VFSC) as a dealer in securities. Although the regulations in offshore zones are generally lax, having a license is still better than none. 2. Client Fund Segregation The VFSC requires licensed entities to keep clients’ funds in segregated accounts, separate from the company’s money. This provides a level of financial security for traders. 3. High Leverage and Competitive Spreads 6iTrade offers leverage up to 1:300, as well as spreads starting from 1.3 pips on EUR/USD. High leverage can increase the potential for higher returns, but it also comes with increased risk. 4. Availability of MetaTrader4 (MT4) 6iTrade provides access to the MetaTrader4 platform. MT4 is a reliable and user-friendly platform that offers one of the best charting packages, in-depth market information, automated trading via Expert Advisors, API connectivity, and more. However, it’s important to note that while 6iTrade does offer these advantages, it is registered offshore. The regulatory framework for financial services providers in Vanuatu is better than those in most offshore zones, but it is still loose. This means that clients of 6iTrade and other offshore brokers have no guarantee that their money is safe, nor that they will receive any protection if something goes wrong. Therefore, potential investors should carefully consider these factors before deciding to invest with 6iTrade.

What are the Cons of 6iTrade?

6iTrade, a forex broker, has several disadvantages that potential investors should consider:. Offshore Registration: 6iTrade is registered in Vanuatu. , an offshore zone. While the Vanuatu Financial Services Commission (VFSC) regulates the broker, the regulatory framework in Vanuatu is considered lax compared to other jurisdictions. This lack of stringent regulation means that there’s a higher risk associated with investing in offshore brokers like 6iTrade. Investor Protection: The VFSC does not provide strong oversight, which means that clients of 6iTrade have no guarantee that their money is safe. In case of disputes or issues, investors may not receive adequate protection. Trading Volume Requirements and Extra Fees: 6iTrade has set trading volume requirements and charges extra fees, which could be unfavorable to traders. Potential Risk: 6iTrade has been flagged for having a high potential risk. This could be due to a variety of factors, including its offshore registration, lax regulation, and the trading conditions it offers. . In conclusion, while 6iTrade does offer some advantages such as access to the MetaTrader4 platform and competitive spreads. , the disadvantages associated with its offshore registration, lack of strong regulatory oversight, and potential high risk make it a less desirable choice for investors. It’s always recommended that investors conduct thorough research and consider all risks before choosing a forex broker.

Is 6iTrade Regulated and who are the Regulators?

6iTrade is a broker that operates in the financial market and is indeed regulated. The regulatory body overseeing 6iTrade is the Vanuatu Financial Services Commission (VFSC). However, it’s important to note that while VFSC is a legitimate regulatory body, it is considered one of the weaker authorities when it comes to investor protection. This is in comparison to first-tier regulatory bodies like the Cyprus Securities and Exchange Commission (CySEC). The company operating 6iTrade is 6iGroup Ltd., which is licensed by the VFSC. The VFSC requires licensed entities to keep clients’ funds in segregated accounts, separate from the company’s money. All regulated brokers should maintain a physical presence on the island, have a local director, and maintain a minimum capital requirement of $50,000. In terms of trading conditions, 6iTrade offers leverage up to 1:300. The spreads start from 1.3 pips on EUR/USD. The minimum deposit to start trading with 6iTrade is 0 USD. Despite being regulated, potential investors should be aware of the risks associated with doing business with offshore brokers. The VFSC has very lax requirements for dealers in securities and does not exercise rigorous oversight. Therefore, clients of 6iTrade and other offshore brokers have no guarantee that their money is safe, nor that they will receive any protection if something goes wrong. In conclusion, while 6iTrade is a regulated broker, potential investors should exercise caution due to the lax regulatory environment in which it operates.