BrighterTrade

Trading Platform

Brighter Trade features a web-based trading platform known as TraderSoft. The platform is accessible by nearly every web browser and works on both desktop computers and mobile devices. Traders can easily trade while on the go from nearly any computer or mobile device. The TraderSoft platform is an all in one trading solution that delivers multiple trading instruments under a single wallet. Traders also have access to a complete charting package with an array of analysis tools, technical indicators, charts, live data feeds, real market prices, and other advanced features. The platform also has a very user-friendly layout which can be fully customized to suit a trader’s individual needs. The platform supports multiple order execution types, third party signal integration and features risk management tools, price alerts, and ultra-fast execution. All in all, the trading platform software and user interface is very good and suitable for both advanced and beginner traders.

Exchange Markets

Brighter Trade features a wide array of financial markets to participate in and nearly every type of trader will find something suitable for them to trade. The markets in which they support the trading of CFDs (Contract for Differences) include; Forex, Cryptocurrencies, Stocks, Indices, and commodities. See below, the extent of tradeable assets available to trade at Brighter Trade.

Forex

• Over 50 tradeable currency pairs
• 28 Major currency pairs
• 25 Minor currency pairs
• 6 Exotic currency pairs

Cryptocurrency

• Bitcoin (BTC)
• Dash (DASH)
• Ethereum (ETH)
• Litecoin (LTC)
• Ripple (XRP)

Stocks

• Over 150 tradable stocks

Indices

• Only 1 Indices: JSE 40

Commodities

• Silver
• Gold
• Brent
• Oil
• Natural Gas
• XTIUSD

Fees and Commission

Unfortunately, Brighter Trade does not disclose any information regarding their trading fees. We found this to be very disappointing and nerve-racking as we prefer online trading brokers who remain fully transparent with their fee structure. However, Brighter Trade does disclose their account inactivity fee policy which is very unnerving. A traders account is considered inactive after only 30 consecutive days without a trade and is subject to a $49 fee for the first inactive month and a $99 fee the month after that. Most trading brokerages allow traders at least 60 days before they charge an inactivity fee, or don’t even charge one at all. Therefore, we feel as though Brighter Trade may be unethical in the way they are trying to make money through fees. Another fee which traders may incur is an overnight funding fee, which varies from asset to asset.

Security and Fairness

Brighter Trade is a very new online trading brokerage and therefore has not built up enough of a reputation to be fully trusted. As well, the brokerage is not regulated by any reputable regulatory authorities. Therefore, we urge traders to proceed with caution if they choose the Brighter Trade broker. Brighter Trade enforces AML & KYC best practices and requires their users to submit identification documentation for verification. As well, the website and online trading platform utilizes advanced SSL technology for the protection of transmitted data, but other than that no other security measures are known. For instance, it is unclear whether Brighter Trade holds client fund in segregated account or with their own. Therefore, we advise traders to be extremely cautious when dealing with Brighter Trade.

Support

The support offered by Brighter Trade is mediocre and comparable with most other online trading brokerages. Support representatives can be contacted via an online form, email, or through a UK telephone number and is only available from Monday to Friday from 6am to 6 pm. Additional support methods include an FAQ page, glossary, and an education center. However, the education center is only available for traders who open an account and deposit money. We frown upon this because we believe traders should be able to educate themselves before depositing money, and most other online trading brokerage provide free access to their educational content.

Conclusion

Overall, the Brighter Trade online trading brokerage is nothing special and doesn’t offer traders anything new or extraordinary. The brokerage does feature an extensive list of tradeable assets across numerous markets and a sophisticated trading platform, but that’s about all. The trading fees are unknown, and it’s evident that the broker wants to squeeze as much money out of traders as they can through the account inactivity fees and access to educational content. Brighter Trade has not built up a reputable reputation yet and is unregulated, therefore we urge traders to proceed with extreme caution.

Brighter Trade Q & A

The following are the common questions that customers inquired about Brighter Trade.

Is Brighter Trade regulated?

No, it is not a regulated broker.

Is Brighter Trade a scam?

Not sure, Brighter Trade is such a new online trading brokerage, so we are unsure if they are fraudulent. However, thus far they are providing reputable trading service but with questionable fees.

Where is Brighter Trade based?

Brighter Trade is located at Harju maakond, Tallinn, Kesklinnalinnaosa, Roosikrantsitn 2-K367, 10119 Estonia.

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