With the world leaning towards advances in technology to maximize profits, digital trading has undoubtedly carved a niche as one of the most progressive. As such, this niche has seen hoards of platforms aimed at creating a secure environment for this form of trade.
However, of the brokers available for trade, just a few provide a marketplace tailored to the diversities in trade and assets exchange. One such financial broker is Brightfinance – a platform with unique bespoke offerings for the needs of institutional and retail investors across the globe.
Brighfinance looks towards the demands for a unified platform for the trade of variable digital assets as well as financial products for its system development. As such, its offerings showcase a link between the existing and emerging markets.
For this review, we expand on the structure in place on Brightfinance and how trading on the platform works:
A Summative View of Brightfinance
|Minimum Initial Deposit||$250|
|Leverage||1:5 to 1:200|
|Asset Coverage||Forex Metals, Forex, Cryptocurrencies, Commodities and Indices|
|Account Types||Explorer, Basic, Silver, Gold, Platinum|
|Web-based Trading Platform|
Brightfinance Australia – The Digital Intuitive Platform
Though looking promising, the crypto world has seen several setbacks in terms of mainstream adoption since the inception of the first asset in 2009. The bulk of these setbacks were based on the lack of a viable platform for trade and exchange.
Brightfinance was launched to create a unique trading environment backed up by innovative technologies. With a base in Munich, the platform has fostered a reputation as one of the world’s leading innovative online brokers with several assets to its portfolio.
Today, it offers brokerage services to clients seeking to amass their fortunes through diversifying into several digital assets.
It provides support for a wide variety of assets including Foreign Exchange (Forex) currencies, Cryptocurrencies, Stocks and Shares on top companies as well as commodities. The assets offered also include CFDs to advance profit maximization.
Brightfinance harnesses information and research about underlying market conditions as well as pre-existence market structures to anticipate the needs of its clients. This knowledge and due understanding allows it provide a culture tailored to improve profitability in the global most liquid markets.
The platform stands out by soothing several upheavals associated with trading digitally with its fees structure, flexible user-friendly interface and its extensive security base. It also aims at promoting ethnical diversity and as such, has its operating centres in nations including Cyprus and Dominica.
Trade Diversity on Brightfinance
As a company set on creating a link between markets across the globe, Brightfinance incorporates a platform that features a vast array of financial products. This broker embodies a system with support for crypto trading with limits on challenges faced by the sector.
Brightfinance enlists support for over 200 crypto assets with major assets ranging from Bitcoin, Ethereum, Ripple to Dash coin. This feature extends their offerings to European countries and beyond.
The broker also has a product catalogue which extends to variety of currency pairs, Forex metals and commodities. It also provides sufficient leverage for profit maximization through Contracts for Differences (CFDs) on Indices, Shares, Stocks and especially cryptocurrencies.
These CFDs conceptually mitigate losses for traders by taking advantage of market movements for trade and by providing unrestricted access to markets. They involve contractual agreement between two parties that stipulates that a price be set on an underlying asset within a certain period of time.
The differences in the price of the underlying asset between the strike date and the end period stipulated by the contract is then paid. However, this venture holds a high amount of risks in light of the high volatility faced by the financial markets in recent times.
As such, traders stand the risks of losing their investments and so are advisable to understand the market conditions before placing a trade. Brightfinance places its research on mitigating these risks with its educational foundation as well as an extensive array of investment choices.
The broker also offers oral and written FX contracts on assets with prices varied based on several prices. It features over 200 trading instruments and looks to expand its assets in time.
The broker recognizes the need for a unified trading platform with support for ethnical diversity. Apart from featuring a vast array of offerings, it provides support for several nations with its platform’s multilingual feature.
Brighfinance is headquartered in Munich, Germany but majorly extends its reach to several European nations with some of its bases of operations in Dominica, London and Cyprus. Its multilingual feature provides support for about 9 languages including Deutsch, Spanish and Italiano.
Brightfinance has its transactions and range of services subjected to the laws of the Cyprus Securities and Exchange Commission (CySEC). The trade proceeds and Exercise of Investment Activities are governed by the set rules of this Cyprian market watchdog.
The broker also includes a trust system by being compliant with the trade laws of Spain. It also provides ancillary services in compliance with the governing regulations by the European Markets in Financial Instruments Directive (FID).
It works at mitigating conflicts of interests and disputes by subjecting them to the District court within the jurisdiction of its headquarter.
Here, one of the issues facing mainstream adoption of assets is combated using preset Anti-Money Laundering (AML) and Know Your Customer (KYC) policies. These protocols require that clients provide adequate information for identity verification.
Digital trading is associated with its measure of risks due to advances in technology. This broker sets to stand out with its security protocols in place. The system features an operational interface with high security standards.
It uses full data encryption through SSL (Secure Sockets Layer) to ensure anonymity and privacy while trading. This broker uses this encryption to offer full protection against DDoS attacks and other privacy hacks with its enabled two-factor authentication (2FA).
Brightfinance is compliant with PCI DSS standards. The broker also uses the aforementioned AML and KYC policies to ensure further security and privacy of its users. It provides a wallet service for cryptocurrencies storage.
The platform ensures that funds are more secure by storing only 10% of clients’ assets online and the rest secured in a cold wallet. The responsibility of this cold storage facility and security is given to the client albeit managed by the broker.
It is important to note that the platform holds all government-issued currencies in a segregated custodial holding account identified by the client. Hence, the broker lays huge emphasis on the verification of identity for proper security.
With a broad coverage of assets and unity in trade to its portfolio, Brightfinance enables several account types specially developed to accommodate the variable needs of its clients. These account options are identified by several features and differ in terms of minimum deposits and bonus offerings.
Account Functionalities at a Glance
|Account Type||Explorer Account||Basic Account||Silver Account||Gold Account||Platinum Account|
|Deposit Range||$250 – $2,000||$2,000 – $10,000||$10,000 – |
|$25,000 – $100,000||$100,000 – $500,000|
|Leverage||1:5 to 1:200||1:5 to 1:200||1:5 to 1:200||1:5 to 1:200||1:5 to 1:200|
- Explorer Account
This account seeks to present clients of minimal trading experience and deposits with brilliant service. Its deposit range is $250 to $2,000 and here, clients are entitled 24-hour customer support.
Since leverage is based on the activities of the account and the assets in question, this account type features the major leverage range that runs for 1:5 to 1:200. The major benefit of this account is access to a profession chart for adequately informed trading decisions.
- Basic Account
This account is an enhanced explorer account. For this account, access to 24/5 customer support system remains unrestricted. However, deposit ranges run from $2,000 to $10,000 with access extended to a personal analyst.
Leverage here is the same as the explorer account. Another major highlight of this account is the advancement of investment and trading decisions through an introductory session with an experienced analyst.
- Silver Account
This account is highlighted by deposit range of $10,000 to $25,000. Clients on this account are entitled to monthly private consultations with an experienced analyst. Client also have access to a personal analyst.
Investment and trading decisions are made a tad easier for clients here. This account opens them to weekly market reviews and detailed financial research. Leverage here is based n assets chosen and account movements.
- Gold Account
The Gold account differs from the aforementioned account type by providing a unique investment plan dubbed as the Smart Money Management Plan. Here, the deposit limit ranges from $25,000 to $100,000 and private consultations with an experienced analyst is improved from monthly to weekly.
Clients have access to a personal analyst and informed trading decisions can be based on timely access to weekly market reviews and detailed financial research. Margin calls here are up to 80% and leverage is based on the assets chosen.
- Platinum Account
The Platinum account takes a page from the account with weekly access and consultations with an analyst. The deposit limit here ranges from $100,000 to $500,000 and leverage is based on assets covered.
The highlights of this account include a direct line to the account analyst and weekly access to market reviews and detailed financial research. For this account, clients are entitled to a long term financial plan drawn by a senior account analyst with up to 5 protected trades selected by the analyst.
This account has the advantage of providing monthly market reviews as well as research on the financial markets for informed trading decision.
Withdrawal and Deposit
Support for global inclusion is enabled on Brightfinance through diverse payments methods. This platform stands out by offering commissions as low as 0.87% on each approved open positions of trade.
The trading system here is highlighted by support for wire transfers, cards and wallet services. Financial service providers included by this platform include MasterCard, MAESTRO, Visa, Carte Bleue and PayPal.
While there are no restrictions on the amount withdrawn by the client, it requires that a minimal limit be placed on the amount deposited. This amount is however based on the currency of choice.
In compliance with the KYC and AML protocols in place, the broker requires that valid identification documents be provided before withdrawals. Also, a copy of the credit card used is required.
For security purposes, the CVV and card number should be covered. However, the only mode of identification for the card should be the last four digits of the card number as well as the signature at the back of the card if available. Documents for validation of payment include:
- A pictorial evidence of the ID which could be a government-issued ID card, international passport or a driver’s license
- Residential permit or any form of residential identification such as the utility bill.
These details can be submitted through the broker’s supplied email or fax.
This broker details transparency in its fees structure and offers relatively low trading commissions. These fees are based on several options such as the account type, payment method used and the form of transaction to be carried out.
Credit card payments by client are restricted to the lower limit of 100 USD (or 10,000 JPY) while the amount payable on wire transfer is 500 USD as well as a trading commission of 25 USD.
|Payment Method||Wire Transfer||Visa||MasterCard|
|Minimum Deposit||500 USD||100 USD||100 USD|
|Deposit Fees||25 USD||None||None|
|Withdrawal Time||5-7 Business Days (based on the bank)||5-7 Business Days (based on the bank)||5-7 Business Days (based on the bank)|
|Deposit Time||5-7 Business Days (based on the bank)||Up to 30 minutes||Up to 30 minutes|
Customer Support System
A good customer support system is undoubtedly one of the best ways to improve the integrity of a platform. Brightfinance tailors its services to support and accommodate its customers’ needs. As such, it features a user-friendly site and an easily accessible customer support system.
It customer service platforms opens to a Help center with a provisional email address as well as an enlisted UK-based phone number. Its service platform also links to an FAQ page that gives succinct but meaningful details for easy navigation through the system.
The system however restricts its Live-chat features to registered clients. It makes up for this by ensuing responses to queries and inquiries at its Help Center are as fast as possible. It also provides adequate information on its website for easy navigation and terms of operations.
What’s the Trading Platform Like?
The broker leans on cutting-edge technology to deliver innovative solutions to its customers. Brightfinance provides a web-based trading platform enabled by Activ8. The benefit of this trading platform remains its accessibility on devices with an internet connection.
This, however, could be considered a limitation for the platform in comparison with other brokers with OS-adapted trading platforms. The broker makes up for this lapse by ensuring that navigation through the platform is as straightforward as possible.
The trading platform is enhanced with several applications optimized to making trading fun-filled and exceptional. These applications include charts as well as market indicators for informed trading decisions.
Traders here are open to proper information on price movements, market conditions, global economic conditions as well as historical and real-time updates. Though the other key functionalities included are based on the account type chosen, Brightfinance makes it such that traders maximize profits through several offerings.
These offerings include unique margin calls, leverage trading, spreads, roll over and double up options. The Double Up feature is viable for traders with aims of benefiting from a new position opened based on previous terms set on a nearly-expired asset.
This option bases the terms on the current valuation of the asset as well as the double up valuation upon expiry. The Roll-over option on the other hand provides traders with a near-expired binary option to gain from the period.
The conditions for these options are detailed in the FAQ section of the broker and it is advisable to take note of the market movements before making a decision.
What You Need to Know about Brightfinance
Brightfinance is a unique platform which seeks to feature inclusion of emerging markets such as the crypto market. The broker provides support for several crypto assets and as such, is one of the best fits for institutional and retail investors seeking to diversify their investments.
The platform focuses it services on different financial products and categories. It uses underlying market conditions, price dynamics of assets and developmental projects to attend to the needs of the clients.
As a platform leaning towards transparency and unity in payments, the broker harnesses developments in technology to extend its reach to nations across the globe. True to form, it embodies a trade system that promises accessibility and profit maximization.