Poohtrade is a forex broker established in 2023, headquartered in the United States, focusing on providing investors with trading services for financial products such as forex, commodities, indices, futures, stocks, bonds, and cryptocurrencies. This broker offers three types of accounts and supports traders through multiple trading platforms including MT4, MT5, and cTrader. The broker offers leverage up to 1:500, and the overall design and content of its website are modeled after the IC Markets Global website.
Corporate Background:
Poohtrade Ltd is a US-based forex broker that offers trading services in forex and other financial derivatives to global clients. The official domain of the company was registered on June 25, 2023, making it less than a year old to date.
As of now, Poohtrade has not been regulated by any financial regulatory authority. In the financial services sector, regulatory status is an important indicator for assessing a broker's reputation and reliability. The responsibility of regulatory authorities is to ensure that brokers follow industry standards, as well as to protect the interests of investors. Therefore, potential clients should pay special attention to its current unregulated status before deciding to cooperate with Poohtrade and open an account, as this may pose certain risks. Investors should thoroughly evaluate the potential advantages and disadvantages when considering cooperation with an unregulated broker.
Trading Instruments:
Poohtrade Ltd offers a wide range of financial derivatives trading services, covering forex, commodities, indices, futures, stocks, bonds, and cryptocurrencies, providing global traders with 24/7 trading opportunities. Below are the main trading instruments offered by Poohtrade Ltd:
Forex Trading: Poohtrade is dedicated to providing traders with a wide selection of forex trading options, including major and minor currency pairs, totaling 61 pairs. Traders can enjoy spreads as low as 0.0 pips and leverage up to 1:500.
Indices Trading: Poohtrade offers commission-free trading on 25 major global indices with leverage up to 1:200. Traders can participate in global index markets through the ST5 trading platform.
Commodities Trading: Poohtrade offers traders a choice of over 22 major commodities, including energy, agricultural products, and metals. Users can choose from spot or futures contracts, while enjoying leverage up to 1:500.
Stock Trading: The platform offers over 1600 stocks from exchanges around the world, with all stock trades conducted through the MT5 platform.
Bond Trading: Poohtrade offers more than 11 tradable bonds, covering a wide range of markets and demands. The platform does not charge trading commissions and offers a maximum leverage of 1:200.
Cryptocurrency Trading: Poohtrade offers trading opportunities in the cryptocurrency market, supporting round-the-clock trading. Traders can utilize leverage up to 1:500 for long and short positions.
Futures Trading: Poohtrade offers commission-free trading on four major global futures, with leverage up to 1:200.
Account Types:
Poohtrade broker offers cTrader Account, Raw Spread Account, and Standard Account, aiming to meet the needs of different traders.
The cTrader Account uses the cTrader platform, with no commission, spreads starting from 0.0 pips, requires a minimum initial deposit of $200, and provides a leverage ratio of 1:500. The Raw Spread Account adopts the MetaTrader platform, similarly offering spreads from 0.0 pips and 1:500 leverage, with a minimum deposit of $200, this account type usually targets traders seeking lower spreads. The Standard Account also based on the MetaTrader platform, with spreads starting from 0.6 pips, no additional commissions, a minimum deposit of $200, and a leverage ratio of 1:500, suitable for those who prefer fixed spreads.
Trading Platforms:
Poohtrade offers traders three main trading platforms: MT4, MT5, and cTrader.
MetaTrader 4 (MT4) is globally popular for its stable performance, intuitive user interface, and a rich array of technical indicators and chart analysis tools. MetaTrader 5 (MT5) is the successor to MT4, featuring more chart types, technical indicators, and an enhanced trading system. The cTrader platform is known for its intuitive design, charting tools, and algorithmic trading functions, suitable for experienced traders.
Deposit and Withdrawal Methods:
Poohtrade offers a variety of funding options, including VISA, PayPal, Skrill, and NETELLER. These options support instant deposits, allowing users to quickly transfer funds into their trading accounts for immediate trading execution. The platform also promises fast processing of withdrawal requests to ensure users can access their funds promptly.
It's worth noting that Poohtrade charges a 10% fee on all fund transfer operations. This means that a certain percentage of the transaction amount will be deducted as fees, whether depositing or withdrawing. Customers should consider this cost factor when managing their funds.
How to Open an Account?
The steps to open a Poohtrade account include the following simple processes:
- Visit the official Poohtrade website.
- Click the “Open an Account” button on the homepage to enter the account opening page.
- Fill in the required registration information to complete account setup.
Spreads and Leverage:
Poohtrade offers competitive spreads and leverage up to 1:500. Spreads starting from 0.0 pips cater to day traders' desire for low-cost trading, while a 1:500 leverage ratio provides investors with a larger trading scale, also accompanied by potential risks.
Poohtrade covers over 1750 tradable financial instruments, including forex, stocks, indices, bonds, cryptocurrencies, and commodities, and supports trading conditions with a minimum of 0.01 micro lots.
However, trading with high leverage can potentially increase gains but also comes with potential risks. 1:500 allows investors to control a larger scale of trade with a smaller amount of capital, but market fluctuations may lead to rapid accumulation of losses. When deciding to use high leverage, investors should carefully evaluate their risk tolerance and trading strategy to ensure they fully understand the potential risks of high leverage trading.
Website Design:
The design and content of Poohtrade's website are highly similar to those of platforms like COF, Daytrading International, and Ultimate Pro Assets, all of which have adopted the IC Markets design template. This commonality is reflected in the overall structure, color scheme, and page layout.
Customer Support:
Poohtrade offers consultation and support services to users via email, but the platform does not currently provide phone support, which may inconvenience users seeking immediate help.
The company's registered address is at 831 Bering Way, Suisun City, California(CA), 94585. This address is the same as that of Ultimate Pro Assets, raising doubts about the validity of the company's registration address and actual operating conditions. Users interacting with Poohtrade are advised to remain cautious about the company's support channels and actual operational status.
Conclusion:
Poohtrade is a US-based forex broker that provides investors with diverse trading tools and services. However, this broker offers leverage up to 1:500 and is currently not regulated by any regulatory authority, so investors should be cautious when choosing its services. Additionally, Poohtrade's website design adopts a template similar to several other brokers.
Currently, Poohtrade is marked as "Unregulated" on Traderknows.
