EUmarkets is a Forex and CFDs broker, even though the UTIP platform also offers binary options. The company offers to customers some basic education resources and trainings along with the support of the “transactions analyst”, which is basically an account manager with more advanced trading skills. While the company lists 5 types of accounts, we really do not see the distinctive difference between them. We tried asking on the live chat, but it was offline and the info was in cyrillic – we presume in Russian language.
From what we can see there are two types of EUmarkets account when looking solely on the features
EUmarkets Mini / Standard / Gold / Platinum Account
- from $100 deposit
- 0.4 pip spreads
- up to 1:100 leverage on forex
- up to 1:50 leverage on commodities
- up to 1:10 on stocks
EUmarkets VIP Account
- from $10000 deposit
- individual spread
- higher leverage
So, in short -> deposit $10000 and negotiate your own trading terms. It seems pretty straightforward. There are probably some differences between the availability of educational resources per account, but the website does not state, and we weren’t ready to invest too much to find out at this phase.
The basic account we used did well in the test, and $100 starting deposit is not much we believe – in line with other forex brokers out there. Trading conditions are good if one looks at the spread, which is low. There does not seem to be an ECN account where one can get commission type trading, this might scare off people who would normally target the vIP account and advantages.
Leverage is lower than we are accustomed, however, since higher leverages also mean higher losses, we dont always really consider it a pro for the broker if the leverage is too high, especially if its offered to beginners.
