Company Profile
Note: For some unknown reason, we cannot open BrighterFieldss official site (https://www.brighterfieldstrade.com) while writing this introduction, therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Traders should be careful about this issue.
General Information & Regulation
BrighterFields presents itself as an internet-based investment firm registered in Singapore that provides trading in the CFD/Forex market. The broker claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:888 on the web-based trading platform, as well as a choice of three different real account types and 24/7 customer support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that BrighterFields does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.14/10. Please be aware of the risk.
Market Instruments
BrighterFields advertises that it offers access to a wide range of trading instruments in financial markets which include 50+ Currency Pairs, Commodities, and Indices.
Account Types
Apart from demo accounts, BrighterFields claims to offer three types of real trading accounts, namely Mini, Green and Premium. The minimum initial deposit amount is $500 for the Mini account, while the other two account types have much higher minimum initial capital requirements of $5,000 and $10,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Leverage
The specified leverage for different account types at BrighterFields varies between 1:100 and 1:888. Clients on the Mini account can enjoy the maximum leverage of 1:888, while the Green and Premium account members can experience leverage ratios of 1:200 and 1:100 respectively. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Trading Platform Available
The platform available for trading at BrighterFields is web-based. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
The minimum initial deposit requirement at BrighterFields is said to be as high as $500. However, the broker says nothing about the acceptable deposit and withdrawal methods.
Customer Support
BrighterFields‘ customer support can be reached by email: support@brighterfieldstrade.com. Company address: 14 Woodlands Square Singapore 737716. However, this broker doesn’t disclose other more direct contact information like telephone numbers that most brokers offer.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
