OneTrade is a British No Dealing Desk broker. They provide 90 instruments - currency pairs and commodity and index CFD contracts via the popular MetaTrader 4. The broker was launched in 2015 by the famous British social network of FxStat traders. They naturally focus on social trade and copying.
Financial Conduct Authority (FCA) approves and regulates FxStat Ltd. FCA regulation is popular for its rigorous rules and supervision that it applies. To obtain a license from FCA, brokers based in the UK must have a minimum of EUR 730,000. They have to prove their financial stability and meet many other requirements. For example, customer funds are in separate bank accounts. And companies must report regularly to the UK financial regulator.
The FCA regulation also involves an additional guarantee for customer funds, as they fall under the Financial Services Compensation Scheme (FSCS). FSCS is a UK-based compensation fund for clients of regulated companies, where the maximum compensation is GBP 50,000 per person if the broker becomes insolvent or ceases to operate.
OneTrade offers competitive spreads with variable values, an average of 0.3 pips, with a brokerage fee of USD 8 for every standard flight in the round. Thus, the trading costs with this broker amount to about 1.1 pips for the standard part for EUR / USD, with a commission, which is a good offer.
The maximum leverage offered by OneTrade is only 1: 100. It is a low rate on the forex market because most brokerages provide at least 1: 200. Many currency brokers provide leverage levels equal to or above 1: 500. Because they want to tempt investors thanks to the possibility of gaining extraordinary profits from a small deposit. However, it should be remembered that the opposite is also true - the higher the leverage effect, the greater the risk.