Pros
- Offers the advanced MetaTrader 5 (MT5) trading platform
- Provides a variety of account types for different styles
- Claims to offer educational webinars and market analysis
- Website supports multiple languages for international clients
- Access to crypto CFDs alongside traditional assets
Cons
- Regulatory oversight is limited to offshore jurisdiction (Mauritius)
- Low trust score indicates potential risk for client funds
- Reports of aggressive marketing tactics from sales representatives
- Withdrawal conditions may be stricter than regulated brokers
Basic Information
User Reviews
Regulation Analysis
Neotrades is registered in Mauritius and regulated by the Mauritius Financial Services Commission (FSC). While this is a legitimate license, it is considered a “Tier 3” or offshore regulation in the global financial industry.
Risks associated with this level of regulation include:
- Limited Recourse: It may be difficult to resolve disputes or recover funds if the broker becomes insolvent.
- Looser Standards: Capital requirements and reporting standards are generally lower than in the EU or US.
- Cross-Border Issues: Legal action against an offshore entity is complex and expensive for international clients.
The broker is not regulated by major bodies like the FCA, ASIC, or CySEC, which significantly increases the risk profile for retail traders.
Trading Products
Neotrades offers a standard suite of CFD products typical of offshore brokers. Clients can trade the following instruments:
- Forex: Major, minor, and exotic currency pairs.
- Cryptocurrencies: CFDs on popular digital assets like Bitcoin and Ethereum.
- Stocks & Indices: Global share CFDs and major market indices.
- Commodities: Precious metals and energy products.
The product range is adequate for most retail traders, but the main attraction for many is the availability of higher leverage which is restricted in heavily regulated zones.
Trading Platforms
Neotrades primarily utilizes the MetaTrader 5 (MT5) platform, which is the industry standard successor to MT4. Key features include:
- Advanced Charting: multiple timeframes and built-in indicators.
- Expert Advisors: Support for algorithmic trading strategies.
- Multi-Device: Available on Desktop (Windows/Mac), Web, and Mobile.
While the platform itself is robust software, the execution quality depends entirely on the broker’s server infrastructure and liquidity providers.
Deposit and Withdrawal
The broker supports several funding methods to attract a global audience, specifically those in emerging markets:
- Credit/Debit Cards: For instant funding.
- Wire Transfer: Standard bank transfers (slower processing).
- Crypto & E-wallets: Alternative methods often favored by offshore brokers.
Users should be aware of potential withdrawal delays. Offshore brokers often have complex verification processes that kick in only when a client requests a payout.
Customer Support
Customer support is available, though quality reports vary significantly:
- Email: support@neotrades.com
- Phone: A UK-based contact number is listed (+44).
- Web Form: Contact form available on the website.
There are reports of aggressive sales calls initially, followed by slower support responses once the account is funded. 24/7 support is claimed but not always consistent.
FAQ
Q: Is Neotrades safe?
A: Neotrades has a low trust score and holds an offshore license (Mauritius), which carries higher risk than Tier-1 regulation.
Q: What platform does Neotrades use?
A: They offer MetaTrader 5 (MT5) for desktop, web, and mobile devices.
Q: Can I trade crypto on Neotrades?
A: Yes, they offer CFDs on major cryptocurrencies alongside forex and stocks.
