Brokereo Logo

Brokereo

4.5
Demo account Yes
Minimum deposit £250
New online brokerage platform

Brokereo

Trading coach
Trading platform
iOS App
Android App

Founded in 2020 and based in Cyprus, Brokereo is a brand spanking new online brokerage platform. It allows traders to buy, sell and speculate on forex, CFDs, crypto, commodities, shares, and indices. With more than 350 assets to choose from and an incredibly sleek and user-friendly platform, we decided to take a closer look and see if Brokereo really is as good as it seems on the surface. If you want to find out whether Brokereo is right for you and how you can get started with the platform today, keep reading our in-depth review!

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 88.36% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Details

Mobile friendly
No Commission Fees
Educational Hub available for Traders
Multilingual Customer Support available

Brokereo Review

What makes Brokereo a good choice for trading online?

Here are some of the highlights that you can expect from the Brokereo trading platform: 

  • More than 350 financial assets to choose from, including crypto and CFDs.
  • Licensed by the Cyprus Securities and Exchange Commission (CySec), meaning that your funds are protected.
  • Maximum leverage of 1:500 for professional, top-tier accounts.
  • No withdrawal or deposit fees and zero commission.
  • A sleek, fast, mobile-friendly platform that utilises MetaTrader 4 software.

Right off the bat, it’s clear that the people behind Brokereo are keen to make a splash in the increasingly crowded field of online brokerage platforms.

Is Brokereo safe?

Of course, traders want to know that Brokereo is safe before you start trading with the platform. This section summarises our findings.

When choosing a brokerage platform to trade your stocks, shares, currencies, metals, and more with, safety is absolutely paramount. 

You are providing your sensitive financial data to the broker and trusting them with your investments and bankroll, which is why it is imperative to ensure that that you have not signed up to a scam platform.

Fortunately, Brokereo checks out just fine. 

Like many other major brokerage platforms, Brokereo is licensed by the Cyprus Securities and Exchange Commission (CySEC). CySEC imposes some of the highest and most stringent safety and consumer protection standards around.

For instance, Brokereo must offer negative balance protection, which ensures that you are never allowed to be overdrawn on your account. 

It also maintains strict account segregation, ensuring that your money is never used by the company itself. 

In addition, fund insurance is also available to all Brokereo users. This means that your funds are covered in the event that Brokereo goes bust.

Trading Online with Brokereo

Want to check that you can trade in your preferred method with Brokereo? 

Here, we break down the full range of products and assets that you can instantly and directly trade and speculate on.

Brokereo offers a very large range of financial products for trading, meaning that you are likely to find what you want.

Forex

Brokerero currently offers live forex trading on 45 currency pairs, including: 

  • USD/EUR
  • USD/GBP
  • USD/CHF
  • USD/JPY
  • USD/NZD
  • EUR/AUD
  • EUR/TRY
  • EUR/INR
  • EUR/SEK

Crypto

If you would prefer to trade e-currencies on the open market, Brokereo allows you to trade CFDs on more than 30 cryptocurrencies assets and pairs, such as: 

  • Bitcoin 
  • BTC/USD
  • BTC/CHY
  • BTC/GBP
  • Cardano/USD
  • BTC/EUR 

CFD

CFDs are Brokereo’s main offering, with the vast majority of assets and products available on the site coming in the form of CFDs. 

There are hundreds of different CFDs available to trade on at Brokereo, including CFDs on major assets like: 

  • Stocks and shares
  • Brent crude
  • Dow Jones
  • IBEX
  • NASDAQ
  • Gold 
  • Silver
  • Bronze
  • Platinum
  • Coffee
  • Natural gas
  • Forex CFDs    

Opening a Brokereo Account

It’s simple and straightforward, providing that you fit the eligibility criteria and are a resident in a country where Brokereo is able to offer services.

Read on to find out how you can open your Brokereo account today.

Can I open an account at Brokereo?

Brokereo is based in Cyprus and reserves the right to offer services to customers in all EEA countries, as well as Chile. 

This means you can use Brokereo if you live in: 

  • Austria
  • Croatia
  • Denmark
  • Finland
  • Germany
  • Hungary
  • Ireland
  • Latvia
  • Lithuania
  • Netherlands
  • Poland
  • Romania
  • Slovenia
  • Bulgaria
  • Sweden
  • Estonia
  • France
  • Greece
  • Iceland
  • Italy
  • Lichtenstein
  • Malta
  • Norway
  • Portugal
  • Slovakia
  • Spain
  • Chile 

Although you are able to make deposits and withdrawals in USD with Brokereo, it is worth emphasizing here that the platform is expressly forbidden to US-based users.  

Anyone present in the US will be unable to access Brokereo’s services. 

What are the different types of accounts?

When joining Brokereo, you can choose which type of account you would like to have. 

Each account has different fees attached and offers various benefits depending on your membership. 

These are the main types of accounts offered at Brokereo.

Silver Account

The minimum deposit required is £/$/€250. The account offers 0.07 pips for spreads and up to 1:30 leverage. You can also access the full range of hedging, as well as live financial news reports.

Gold Account

The minimum deposit required is £/$/€250. The account offers 0.05 pips for spreads and up to 1:400 leverage. With this tier, you will also get a swap discount of 25% and a dedicated account manager whom you can reach five days a week.

Platinum Account

The minimum deposit required is £/$/€250. The account offers 0.03 pips for spreads and up to 1:400 leverage. You’ll also get a huge swap discount of 50% and a dedicated, professional-level account manager to help you make trading and investment choices.

How to open an Account at Brokereo?

Opening an account with Brokereo is easy and straightforward, which you would expect from such a new site that seems to pride itself on user-friendliness.

Follow these steps to create your Brokereo account and start trading:

  1. Click our link to take you to the Brokereo homepage and then hit the “Open Account” button.
  2. Fill out the registration form, including your name, email, and country of residence.
  3. Provide the required documentation to verify your identity. You can do this by uploading a scan of your ID or a proof of address document.
  4. Confirm that the information you have provided is correct.
  5. Select your account type (see above).
  6. Select your preferred payment platform for making deposits and withdrawals.
  7. Once your account information has been verified, you can immediately begin trading.

Brokereo Fees

Curious what fees you’ll pay when you sign up to Brokereo? We have outlined them below!

Many online brokerage platforms essentially run on fees from users. These can be commission fees for individual trades, withdrawal fees, inactivity fees, and more. 

While Brokereo, fortunately, does not charge account fees or instrument fees, there are a number of fees and charges you should absolutely be aware of before you create your account. 

There are:

Trading fees

Brokereo does not charge any commission whatsoever on individual trades, something that the company is proud to advertise. 

However, this is not the full story, as users will still pay for certain types of trades. 

Brokereo charges small fees of around 0.01% for overnight swaps, as well as fees for spreads on certain assets. 

Again, these are very small and amount to a fraction of a percentage in all cases.

Non-Trading fees

The only non-trading fees imposed by Brokereo are inactivity fees which, we will admit, are higher than the industry average. 

If you do not use your account for a certain period of time, you will automatically be charged without exception. 

If you continue to not use an open account, you will be charged on a recurring basis. This is the current schedule for inactivity fees at Brokereo:

Period of Inactivity Fee Charged 
61 to 90 days £80 for each extra month
91 to 180 days £120 for each extra month
91 to 180 days £200 for each extra month
More than 261 days £500 for each extra month

We have rarely seen inactivity fees this high on any platform, making this one of the major drawbacks of choosing an account with Brokereo. 

Brokereo Deposits & withdrawals

As with any brokerage platform, it is crucial that you find one that offers the right deposit and withdrawal methods for you. 

Read on to find out how you can make your deposits and withdrawals with Brokerero.

Base currencies

  • GBP
  • EUR
  • USD 

What is the minimum deposit at Brokereo?

The minimum deposit for all account levels at Brokereo is £/$/€250. 

This is significantly higher than the minimum deposits required by many other major trading platforms and is a major cash commitment to make for a new account holder. 

This is another drawback of Brokereo.

Deposit methods and fees

  • Wire Transfer 
  • Visa
  • MasterCard
  • Skrill
  • Neteller

Brokereo does not charge deposit fees of any kind! Users can expect deposits to appear in their trading account almost instantly.

Withdrawals methods and fees

  • Wire Transfer
  • Visa
  • MasterCard
  • Skrill
  • Neteller

Brokereo does not charge withdrawals fees of any kind! Traders can typically expect it to take around five days for withdrawals to land in their bank account.

Customer support

Does Brokereo offer adequate support? How can you expect to get in touch if you need to? Find out more in this section.

Whether things go wrong or you just have some questions you want to ask, it is essential that you are able to contact customer service when you need to. 

Although Brokereo is a new platform, many existing user reviews seem to indicate that the platform’s customer service is friendly, accessible, and readily available to answer any questions and queries.

Method of contact & availability

In a nutshell, the main ways that you can contact the Brokereo customer service team are:

Customer service is available across all mediums in English, Spanish, and German. The customer service phone line is open five days a week between the hours of 8am and 5pm GMT. 

The on-site live chat is also staffed by real people during opening hours. This is, admittedly, more limited than the phone hours offered by some competitor platforms, especially in a world where 24/7 customer service is increasingly the norm.

Should you have a query that you need answered outside of these hours, you can access the on-site ticket system to send your query to the support team, who will endeavour to get back to you as soon as possible.

As mentioned, user reviews largely describe the Brokereo customer support team as friendly, helpful, and understanding. 

This is more than what we can say for some of the brokerage platforms out there.

Conclusion

Pros

Overall, Brokereo is a solid new trading platform that is clearly trying to give people exactly what they want: no-muss, no-fuss trading on a wide variety of instruments. The platform is incredibly user-friendly and works great on your mobile browser.

In addition, the total lack of commission fees is a refreshing change from what we are used to seeing, given that even the most well-resourced platforms tend to charge commission fees for most trades.

Importantly, the homegrown financial insights and analysis that Brokereo offers to all its users are of very high quality.

At the Brokereo Educational Hub, you can access e-books, magazines, blogs, and video tutorials that will give you all of the cutting-edge financial training guidance and market analysis that you could wish for. 

Meanwhile, the embedded financial news resources on the platform can easily rival anything offered by Bloomberg or CNN.

Cons

That being said, there are some drawbacks to this platform. For one, the tiered account system and the incredibly hefty inactivity fees are a let-down and are very un-classy ways to extract money from customers. 

In addition, the financial products on offer are very heavily weighted towards CFDs, so those looking for something different will be disappointed.

Overall, this is a solid new platform that is definitely worth your time, especially if you are interested in no-nonsense, no-fee CFD trading.