Onorio Review~ Helpful guide to this Forex Broker
quick look at ONORIO?
Despite the fact that Onorio is rather a young broker, it already serves over 5 thousand traders from different corners of the world. This could be an impact of harmonized trading conditions broker offer, while beginners will enjoy simplified conditions and fast account opening and may learn from Forex education Onorio provide.
Onorio is a new player in Forex business and a company established under the laws of st Vincent and grenadines that mainstays on cutting-edge technology and striving to propose good conditions and knowledge to world traders. Its states about a professional approach towards the Trading industry.
And professionals will find some of the innovative tools available also with great access to the MT4 platform and its powerful trading options with no restrictions. However, read the full article and learn Onorio Review conditions better before you decide if this is the broker you want to sign in.
As for the available markets, Onorio offers trading on CFD basis with availability over 350 assets including popular Currency Pairs, Cryptocurrencies, Indicates, Energies, Metals, Stocks while its range continues growing. Even though some traders may find it that proposal based on CFDs is rather limited, there are numerous advantages of this type of trading as well.
While the main of it is a simplified way of trading, where you don’t need to worry about contract rollovers or connection to a particular exchange, simply through the selection of trading instruments in Onorio platform you open chart and start trading, which is definitely a benefit.
Of course one of the most interesting points for you in Onorio review is costs and spreads which broker offers for its trading solutions. Obviously, these costs are depending on the account type you use, as well as what trading size you operate.
Is Onorio safe or a scam?
Indeed, the most important and first question to ask is whether the broker is a scam or not, If you can trust your money and trading activity with a particular company.
Is Onorio legit?
So Onorio operates and is established in offshore zone ST Vincent & Grenadines, Even though we never recommend trading with offshore brokers on its own, ,we consider this broker as a one that obliges to international rules and protecting your money.
AccountsNext point to check within Onorio Review is a range of account types that you may choose and specify conditions more suitable for your trading need or experience.
Moreover, Onorio supports traders following Sharia belief so Islamic Account available for every account type offered with tailored conditions according to restrictions.
Types of Accounts
There are four Account types available at Onorio– classic, Gold, Platinum and VIP designed for traders who either just starting trading journey or feature more attractive conditions as long as the account type increases.
Throughout a choice of over 350+ assets each account type brings smart fee strategy also with discounts applied for Gold and Platinum account holders for swaps and spread charges.
Leverage being a very powerful trading tool, since magnifies your trading capital in a certain number of times, offering you great opportunity to gain higher income by the trade of smaller amounts. However, leverage hides higher risks as well, so you should always learn how to use it correctly on which instrument to apply it or on which one not.
Recognizing its risks, regulatory bodies in various jurisdictions for recent years significantly lower allowed levels or the one that retail traders may use. Yet, since Onorio is not limited here they offer more options , that said , they do not go crazy on the leverage. we see this as a positive as we do not believe that any trader should trade on a 1:1000 leverage , you will simply blow through your money to fast.
- leverage of up to 1:200
- Professional traders may access high leverage but thsis is something for VIP clients only.
Our find on Forex fees
Simplifying an answer, Onorio does not charge a commission but base its costs on a spread only.
This means all you have to pay for provided trading service and capabilities is a spread, or a difference between the sell and buy price charged for every position you make. Spread is also defined by the account type you use, thus .
Besides, additional charge SWAP or Rollover fee is paid if you use swing strategy or holding positions longer than a day. However, Gold and Platinum traders will enjoy swap discounts, which is definitely great.
Also, see below the comparison table with a typical Onorio Spread and compare brokers to other CFD Brokers consistent of fees, commission or inactivity fee. Also, for your consideration you may check Galore Pro Review .
Deposits and Withdrawals
Onorio operates automatically under the money management rules, which means clients’ funds are always kept under protective measures and segregated at all times. Also, the broker enables safe transactions, means you can unprecedently transfer fund to or from your trading account.
Deposit fees and Options
Onorio offers to deposit funds through the most common payment methods, through the use of popular providers. It may seem at some point like a limited choice, yet those methods are the most convenient and safe.
- Bank Wire Transfer
- Credit Card, Debit Card
Minimum deposit requirement
Typically, the very minimum deposit is set to a EUR250 allowing you to open a Classic account, while Higher grade account will require bigger amounts of money. What is also great, there is no charges for deposits so there is no any commission, however always define it with your payment provider or Bank itself as international laws may vary.
Money withdrawals are also organized in customer-friendly way, as all transactions are requested and managed through your online account area. Onorio also adheres to good standards and review, confirm withdrawals quite quickly, also charging no commission.
The trading platform you will use for the trading process itself is an industry leading, popular and highly regarded Trading Platform. We are not surprised why Onorio chooses this software and does not provide any other platform, this trading platform is so flexible and packed with great features so almost you don’t want to search for something else.
Web Trading Platform
the Onorio Trading Platform offered by Onorio is actually a Web Version, while if you have y Desktop platform version as well. Yet, all features are available and synchronized on all devices as this platform is a cross-platform. Web Trading is definitely very comfortable since you don’t need any computer high specifications or capabilities, all you need is a browser and internet connection and platform will be available for trading right away.
Look and Feel
This Trading platform is actually known and highly awarded for its great charting, customer-friendly design and intuitive navigation. So even if you not familiar with the platform you will get easy with it, also make sure to learn it well with education materials Onorio provides too.
With a platform you will have a full track over your opening and closing of positions, also with numerous order types available including stop loss, limit loss, etc. Onorio includes a full Indicator suite package as well, so traders of various styles can join to its trading interest seamlessly.
Mobile Trading Platform
The mobile app is also available and suitable for any mobile device you may use. Together with customized features you may even choose from defined chart types, check your fee report, enable one click trading and more, all available on the go.
Another important point while selecting a broker is to see its customer support, as you should find a quality answer and support in any matter you may have along the trading process. The good news are that Onorio customer support is on a quite sustainable level, so you may refer to your concerns either through Live Chat, email or phone if it is better for you. Yet make sure to contact them within working hours, as customer service world 24/7 .
Overall, Onorio Review shows us a broker with a quality trading proposal including a good range of the trading instruments to choose from while all available though popular Trading platforms.
Despite its entity that Onorio serves in the offshore zone as well, they provide a good level of trust meaning you trade with the legit broker.
What we would like to highlight is the powerful technology base Onorio provides, as despite the strategy you may follow they will deliver, So this broker is good opportunity or option for you. However, be sure that CFD trading is the right choice for you since Onorio offers assets on a CFD basis only.
Yet, it is always great to hear your personal opinion about Onorio . So you may share your experience or thoughts or discuss them below or ask us for additional information.
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