Score
SUMMITRADE
Estonia|2-5 years| https://www.summitrade.co/
Website
Rating Index
Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
Disclosure
Danger
Contact number
+41 225000892
Other ways of contact
Broker Information
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SUMMIT TRADE Co
SUMMITRADE
Estonia
Pyramid scheme complaint
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- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:100 |
| Minimum Deposit | €250,000+ |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
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| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:60 |
| Minimum Deposit | €25,000 - €250,000 |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
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| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
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| Maximum Leverage | 1:40 |
| Minimum Deposit | €5,000 - €25,000 |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
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| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:10 |
| Minimum Deposit | €250 - €5,000 |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
- Fundamental Item(A)
- Total Supplementary Items(B)
- Debt Amount(C)
- Non-Fixed Capital(A)+(B)-(C)=(D)
- Relative amount of risk(E)
- Market Risk
- Transaction Risk
- Underlying Risk
Capital
$(USD)
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SUMMITRADE · Company Summary
| SUMMITRADE Review Summary | |
| Founded | 2019 |
| Registered Country/Region | Estonia |
| Regulation | No Regulation |
| Market Instruments | Forex, Indices, Cryptocurrencies, Commodities, Stocks and ETFs |
| Demo Account | ✅ |
| Leverage | Up to 1:100 |
| Spread | / |
| Trading Platforms | Web-based Platform, mobile App |
| Minimum Deposit | €250 |
| Customer Support | Contact form |
| Phone: +41 225000892 | |
| Email: support@summitrade.co | |
| Address: OÜ, Tallinn, Kesklinna linnaosa, Roosikrantsi tn 2, 10119 , Estonia | |
Registered in 2019, SUMMITRADE is an unregulated financial trading platform based in Estonia. It offers Forex, Indices, Cryptocurrencies, Commodities, Stocks and ETFs via both web and mobile platforms.
Pros and Cons
| Pros | Cons |
| Demo accounts available | No regulation |
| Multiple account types | Limited info on trading fees |
| Flexible leverage ratios | |
| Comprehensive customer support channels | |
| Diverse payment methods |
Is SUMMITRADE Legit?
At present, SUMMITRADE lacks valid regulation. Its domain was registered on Nov 1, 2019, and the current status is “clientDeleteProhibited, clientRenewProhibited, clientUpdateProhibited, clientTransferProhibited”. Please pay high attention to the safety of your funds if you choose this broker.
What Can I Trade on SUMMITRADE?
On SUMMITRADE, you can trade with Forex, Indices, Cryptocurrencies, Commodities, Stocks and ETFs.
| Tradable Instruments | Supported |
| Forex | ✔ |
| CFDs | ❌ |
| Commodities | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| Stocks | ✔ |
| ETFs | ✔ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
Account Type/Leverage
SUMMITRADE offers Basic, Sliver, Gold, and Vip accounts, with flexible leverage ranges from 1:10 to 1:10. Note that high-leverage can amplify both profits and losses.
| Bacic | Silver | Gold | Vip | |
| Min Deposit | €250 | €5,000 | €25,000 | €250,000+ |
| Leverage | 1:10 | 1:40 | 1:60 | 1:100 |
Trading Platform
SUMMITRADE offers a web-based Platform and mobile App. You can get the app on Google Play.
Deposit and Withdrawal
SUMMITRADE supports various payment methods such as VISA, MasterCard, SEPA, Bitcoin, Wire transfer, Ethereum, and VLOAD cards.
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