We recently found another forex broker that offers its own trading platform – AnyTrades. According to the company’s website, it was founded in 2016 and has already won three prestigious awards. AnyTrades claims it serves clients from more than 120 countries. However, AnyTrades is a young broker and will have to prove itself in the competitive forex market.
AnyTrades acts as an STP forex broker and is authorized and regulated by the Vanuatu Financial Services Commission (VFSC). As such, the company is not a counterparty to customer transactions. They are immediately processed on the interbank market and the broker makes money from spreads and commissions only. This implies a minimum delay while the market order is fulfilled.
Despite fast execution, there is slippage during important market news.
AnyTrades offers a web-based trading platform that is available for mobile users as well. The other option is to download the AnyTrades Mobile Trading App from Google Play Store or the App Store.
You can navigate through the platform with ease.
AnyTrades provides more than 1000 financial instruments for trading distributed into currency pairs (including crypto and exotic ones), commodities, indices and shares.
Although there are a large number of instruments, we have noticed that some of them have wide spread compared to other forex brokers. A lot of other brokers offer cryptocurrencies with much better spreads.
There are plenty of useful features such as built-in real-time news, economic calendar, and a lot of technical indicators that reduce the decision-making process of entering and exiting the market.
Although their charts can show the bid or the ask price, they are too simplified, there is no measuring tool and they don’t reflect every price change.
The guaranteed stop loss order while the market is open, and the built-in negative balance protection are two very positive features. That means clients will never owe money to this broker, regardless of the price gap.
Beginners can enjoy the popular feature called Social Trading. AnyTrades provides the opportunity of choosing successful investors to follow. Clients who don’t feel confident enough could copy these investors and become profitable traders. Of course, past results don’t guarantee the same profitability in the next deals, but everyone can learn from the top performers. Although the social trading platform is user friendly, it provides basic features only and is appropriate mostly for beginners. However, AnyTrades doesn’t allow demo accounts, so you must open a live one and feed it with money to take advantage of the features.
Despite the platform simplicity clients don’t have the opportunity to trade with MetaTrader 4 – one of the most used forex platforms worldwide. Moreover, AnyTrades mobile version is not adapted for tablets and this would definitely be a disadvantage for some traders.
AnyTrades is a good choice for beginners, and not the best option for experienced traders as it lacks some features. Intermediate traders will also enjoy AnyTrades and benefit from their customized simplified platform.
To learn more about them you can visit their website and social profiles.