Platforms and instruments
Clients can trade via an easy-to-operate and intuitive web-based platform developed by AnyTrades. There also is a mobile application available for download – AnyTrades Mobile Trading App. For android devices you can download it from the Google Play store and for iOs devices you can download it from the App Store.
AnyTrades offers more than 1000 financial instruments such as currency pairs, crypto currencies, commodities, indices and shares. However, arranging the instruments is a little complicated and requires more patience to achieve the desired result. Another thing to note is the lack of opportunity to trade in the MetaTrader platform. Although AnyTrades’s own platform is simple to use, some professionals would prefer the widely known MetaTrader.
Moreover, AnyTrades doesn’t allow demo accounts, so if you wish to use this broker, you must open a live account.
Market maker or STP broker
AnyTrades acts as an STP forex broker. That means deals are immediately processed on the interbank market and the broker makes money from spreads and commissions only. Straight Through Processing brokers cannot combine or leave client orders unprocessed.
Acting as a Straight Through Processing broker AnyTrades fulfills orders with a minimum delay. The company announces the availability of multiple servers in some key locations around the world. Although the order execution is fast, there is slippage during important market news.
Accounts and spreads
There are three types of accounts offering different initial sum and trading conditions so every investor could choose the appropriate one. Major currency pairs have relatively narrow spreads. While the market is calm, the spread of EUR/USD is in the range of 1.0-1.5 pips. However, many other brokers offer exotic pairs and cryptocurrencies with better spreads.
Customers receive real-time updates on upcoming economic events and financial news directly from the platform. Plenty of technical indicators are available and every strategy can be implemented. Bid or ask price can be shown in the chart window and up to 6 of them can be displayed at the same time.
Unfortunately, not all quotes are registered, and the price line moves with some delay.
The guaranteed stop loss order while the market is open, and the built-in negative balance protection are two very positive features. That means clients will never owe money to this broker, regardless of the price gap.
Gaining popularity lately, the option of ‘Social Trading’ is offered as well. Even beginners can become successful traders following more experienced investors. We should admit that this feature is not so well developed as it is with some other brokers, but it seems ideal for the newbies.
AnyTrades is a good starting level platform. Experienced traders would like to see more built in features but, clients would benefit from AnyTrades customized simplified platform.
AnyTrades – Pros (+) and Cons (-)
+ The trading web platform and its mobile version are user-friendly and intuitive;
+ The platform provided is suitable for the experienced traders and for the beginners as well;
+ AnyTrades provides ultra-fast execution of clients’ orders. A slippage during order execution is an extremely rare event.
– Not aware of any cons. See All Forex Borkers Reviews – Comparison