The forex market, known as the global foreign exchange market, holds the distinction of being the world’s largest and most highly traded financial market. Individuals, whether they are new to trading or have ample experience, who are searching for a reliable forex broker, would be wise to explore various aspects. These include evaluating the broker’s trading expertise, the range and variety of products available (such as currencies, contract for differences (CFDs), indexes, commodities, spread betting, cryptocurrencies, etc.), assessing the fees associated with trading (such as spreads and commissions), examining the available trading platforms (which may be web-based, downloadable software, mobile applications, charting tools, or third-party platforms), considering the quality of customer support, evaluating the broker’s provision of trading education and research materials, and finally, gauging the level of trustworthiness the broker offers.
Let’s dive into the review of EllandRoad Market to gauge its working properly.
Elland Road Capital, an online trading brokerage headquartered in Cape Town, South Africa, focuses primarily on forex trading. The company is authorised and regulated by the Financial Sector Conduct Authority (FSCA) of South Africa, as well as the FSP (Financial Service Provider). Their FSP licence number is 52127.
With a leverage ratio of 1:400 and a minimum deposit requirement of $250, Elland Road Capital provides its clients with a diverse range of tradable assets. These include forex pairs, cryptocurrencies, futures, commodities, shares, and indices.
To assist clients in familiarising themselves with the platform, the company offers a demo account with a virtual cash balance of $10,000. The broker’s customer support is available round the clock, five days a week, in 19 languages. Moreover, traders can access the markets through the widely used MT4 platform as well as the broker’s proprietary web-trader platform.
Recognizing that different traders have varying needs and budgets, Elland Road Capital offers multiple trading accounts. The Standard account, for instance, can be opened with a minimum deposit of $250. Now, let’s delve into further vital details about this broker.
Their global ranking stands at 456,725, with a specific rank of 36,759 in Switzerland. In March 2023, they recorded nearly 73,000 visits, primarily originating from Switzerland and Brazil, but also from countries like India, Sweden, Taiwan, and others.
With a Semrush Authority score of 23% and 942 backlinks from 219 referring domains, the website indicates a moderate level of popularity. However, caution should be exercised as there is a potential risk of it being a scam.
The website provides different types of accounts, namely Classic, VIP, and Gold, each offering distinct levels of leverage, spreads, and other features.
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The initial account offered by Elland Road Capital is referred to as the Classic account, which necessitates a deposit of $250. This account type grants traders access to leverage of up to 1:400, spreads from 2.5 pips. The margin call level is set at 100%, ensuring that traders receive a notification when their account reaches a certain margin threshold, while the stop out level is set at 20%, at which point the system will automatically close out trades to prevent further losses.
In terms of trade volume, the Classic account allows a minimum trade volume of 0.01 and a maximum volume of 50. Furthermore, this account type offers the benefit of negative balance protection, safeguarding traders from potentially owing more than their account balance in the event of significant market movements.
The Silver account is an upgraded version of the Classic account and includes all the features available in the Classic account. With a minimum deposit requirement of $250, the Silver account offers traders the opportunity to utilise a maximum leverage of 1:400. The spreads for this account type start from 2.5 pips, providing competitive trading conditions. Similar to the Classic account, traders with a Silver account have access to trade across all available instruments offered by Elland Road Capital.
The Gold account builds upon the features of the Classic account while introducing additional benefits and flexibility. With the Gold account, traders enjoy the same features as the Classic account, but with added advantages. These include receiving a comprehensive monthly account overview, providing valuable insights into the trading performance. Furthermore, traders using the Gold account have the option to benefit from swap discounts, enhancing their trading experience.
In terms of trading conditions, the Gold account offers spreads starting from 1.8 pips, ensuring competitive pricing. Additionally, traders can take advantage of swap discount periods, which can provide further cost-saving opportunities.
The VIP account represents the top-tier offering provided by Elland Road Capital, encompassing a comprehensive range of features and benefits. With spreads starting from as low as 0.9 pips, the VIP account creates favorable conditions for forex traders to engage in substantial trades. Clients who opt for the VIP account gain access to all the features available in the other account types, including leverage of up to 1:400, the ability to trade across all available instruments, and the added security of negative balance protection.
Additionally, the VIP account offers a dedicated account manager, providing personalized support and guidance tailored to the individual trader’s needs. This level of service enhances the trading experience, offering clients a higher level of attention and assistance.
Elland Road Capital provides its clients with multiple choices for depositing and withdrawing funds, which encompass credit/debit cards, bank wire transfers, and APMs (Alternative Payment Methods). To open an account with Elland Road Capital, a minimum deposit of $250 is required.
Maintaining a rigorous anti-money laundering policy, the company ensures that clients’ funds are kept separate in Tier-1 banks. Consequently, deposits are swift and exempt from fees, while withdrawals typically undergo processing within 1-3 business days.
Forex traders incur fees when transferring funds from the trading platform to their personal accounts. Traders have the flexibility to choose from various transaction methods available for deposits. It is important to note that the deposit and withdrawal methods should match on Elland Road Capital broker.
Among the withdrawal options, wire transfer is the commonly used method by traders. For wire transfers, the broker applies a fixed fee of $30. Additionally, Credit Card, Debit Card, Prepaid Card, and E-Wallets attract a fee of 3.5% on the withdrawn amount.
The trading platform provides a diverse range of markets for traders, encompassing Forex, Cryptocurrency Futures, Commodities, Shares, and Indices. The inclusion of MT4 and the broker’s own proprietary platform enhances the overall trading experience, resulting in an excellent user interface. Additionally, the broker offers a demo account, allowing traders to practise their trading strategies before transitioning to live trading. Now, let’s explore the available tradable markets on this platform:
Trading currencies is widely popular within the foreign exchange market, and Elland Road Capital offers a comprehensive selection of major, minor, and exotic currency pairs. Traders can engage in trading renowned currency pairs such as EUR/USD, GBP/USD, USD/JPY, and AUD/USD.
The broker provides a maximum leverage of 1:400, allowing traders to hold substantial positions in the market with a relatively small capital investment. Additionally, Elland Road Capital offers competitive spreads, starting as low as 0.9 pips for major currency pairs. By utilising the MT4 platform, traders gain access to advanced charting tools and a range of 30 pre-installed technical indicators.
Elland Road Capital extends its support for trading cryptocurrency futures, offering leverage of up to 1:5. Among the popular cryptocurrencies available for trading are Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Ripple. Cryptocurrencies are highly sought-after assets due to their characteristic high volatility and liquidity.
Traders can engage in cryptocurrency trading around the clock, benefiting from competitive spreads. Moreover, the broker provides an added layer of security through negative balance protection, safeguarding traders from potential losses exceeding their invested capital.
Elland Road Capital presents a range of natural resources, known as commodities, that can be traded within the futures market. Traders have access to popular commodities such as Gold, Silver, Oil, and Natural Gas on the platform.
When it comes to commodity futures, the broker provides a maximum leverage of 1:200, enabling traders to capitalise on the inherent volatility and liquidity of these instruments. Additionally, the broker offers tight spreads across all commodity futures. Notably, for natural gas, a commission fee of $0.14 is applied.
Elland Road Capital extends its services to stock trading, providing leverage of up to 1:5. Traders can access a diverse range of popular stocks, including Apple, Amazon, Facebook, and Google. Notably, the broker does not impose any commission fees on the shares traded through this platform.
Trading shares on this platform delivers an exceptional experience, thanks to the inclusion of advanced features and tools. With over 160 CFD assets shares available, traders have ample options to choose from. Furthermore, the platform allows for trading during standard market hours, providing 24/5 trading opportunities.
This platform presents an opportunity to trade major global indices. With a maximum leverage of 1:200, the broker allows traders to participate in index trading. Among the popular indices available are S&P 500, Nasdaq 100, and Dow Jones Industrial Average.
The broker offers highly competitive spreads for these instruments, starting from 0.9 pips. Trading indices on this platform ensures an exceptional experience, as the broker provides a comprehensive array of features and tools.
|Inactivity Period||Monthly Account Inactivity Fee|
|0 to 1 month||0|
|1 to 2 months||100 USD/EURO|
|2 to 6 months||250USD/EURO|
|Over 6 months||500USD/EURO|
This comprehensive forex broker offers its clients a choice between two distinct trading platforms: MetaTrader 4 (MT4) and a proprietary platform. MT4 is widely recognized as one of the most renowned trading platforms globally, valued for its intuitive interface, advanced charting capabilities, and extensive customization options.
In addition to MT4, Elland Road Capital provides a proprietary web-based platform designed exclusively for their clients. This proprietary platform is user-friendly and caters to the needs of traders across various experience levels. Now, let’s delve into the features offered by both of these trading platforms:
Through the utilisation of MT4, traders gain access to a comprehensive array of tools and features facilitating in-depth market analysis. This includes a diverse range of technical indicators and charts, empowering traders to thoroughly examine market trends and patterns. Furthermore, MT4 provides the capability to employ custom indicators and expert advisors, enabling traders to personalise their trading strategies and automate certain aspects of their trading activities. Such flexibility and customization options contribute to a more tailored and efficient trading experience on the MT4 platform.
The Web-based trading platform offered by Elland Road Capital is specifically crafted to prioritise ease of use and provide traders with a seamless experience. Designed with user-friendliness in mind, this platform caters to traders of all levels of expertise, ensuring accessibility and convenience for everyone. Whether you are a beginner or an experienced trader, you can navigate and utilise the web-based platform effortlessly, allowing you to focus on your trading activities with confidence and peace of mind.
Trading Central provides effective indicators and instant updates on economic events.
Enhance your trading prowess and optimise your portfolio’s performance by staying ahead of crucial economic events through the Elland Road Economic Calendar. By regularly monitoring this comprehensive tool, you can maintain an up-to-date understanding of significant economic developments, enabling you to make informed trading decisions. By incorporating this valuable resource into your trading routine, you can stay proactive, anticipate market movements, and align your portfolio strategy accordingly, fostering greater potential for success in your trading endeavours
Achieve confidence and effectiveness in your trading strategies by leveraging Elland Road’s complimentary chart analysis. As a trader, your decision-making relies on a deep comprehension of market dynamics and the ever-shifting prices of your Contract for Differences (CFDs). With the aid of Elland Road’s chart analysis tool, you can gain valuable insights into market trends, patterns, and price movements. By harnessing this tool, you can refine your trading decisions, execute your next moves with ease, and enhance the overall effectiveness of your trading approach. Trust in Elland Road’s chart analysis to empower your trading journey.
The minimum deposit at EllandRoad is $250
The maximum leverage offered by Elland Road Capital is 1:400.
Yes, a demo account with $10,000 virtual cash is offered by EllandRoad.
Yes, it is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa and FSP.
The deposit methods at Elland Road Capital include wire transfers, credit/debit cards, and APMs.
The withdrawal methods are similar to the deposit methods, including wire transfer, credit/debit card, and APMs.
Elland Road Capital supports MT4
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