On the downside, the broker features are sparse compared to industry leaders. OptionsHouse also offers mobile compatibility for those wishing to trade using their smartphone or tablet. There are applications designed specific for the iPhone and Android devices and these have been created to a high standard. Oddly enough, those traders who are a little more independent and hands-off might find OptionsHouse right for them. For all their strengths, one of their few weaknesses is their customer service. It’s not bad, mind you, just not quite as good as many of their competitors.
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There are no inactivity fees and spreads on the commission-free Standard account start from 0.5 pips. Let’s compare the fee policy with other brokers to better understand the difference. LunarCapital does not levy internal deposit fees; accepted currencies are USD, EUR, RUB, COP, and MXN. Processing times are instant except for bank wires, which take two to three business days. Withdrawal fees and withdrawal processing times depend on the payment processor, which LunarCapital transparently lists on its website and in the back office. As a CySEC-regulated broker, the verification process includes a questionnaire that collects data per regulatory requirements enforced by the ESMA.
Range of Markets and Instruments
The name on the payment processor and LunarCapital account must match, as third-party payments remain prohibited by AML rules. Deciding which one is right for you comes down to differences in the overall trading experience. Here’s a look at the best online brokers and platforms available today. Discover Firstrade’s $0 commissions, powerful options trading tools, fractional shares, and AI-driven research. What these two plans mean in practice is that OptionsHouse is attractive in terms of costs to basically all kinds of traders. This has been achieved while still having a commission structure that is easy to understand.
Upon submission, clients are asked to verify their identity and address, typically by supplying a government-issued ID and a recent utility bill or bank statement. This is a standard KYC (Know Your Customer) procedure, aimed at ensuring compliance with anti-money laundering regulations. Once your documentation is approved, you can proceed to fund your account and begin trading.
Step 1: Open an account
Account verification is mandatory as LunarCapital complies with AML/KYC requirements. Most traders will satisfy this by sending a copy of their government-issued ID and one proof of residency document. Wealthsimple is an excellent broker choice if you are a passive investor in Canada or the U.K.
LunarCapital offers various account types to cater to the needs of different traders. Whether you are a beginner seeking an entry point into the trading realm or a professional looking for advanced market access, you will likely find an account structure that suits your goals. The company’s underlying philosophy centers on delivering advanced technology and direct market access at competitive rates. For investors who want to trade on the go, LunarCapital provides a seamless mobile trading experience with dedicated applications for Android and iOS devices.
LunarCapital offers 24/7 customer support, but an FAQ section needs to be included. A direct line to the trading desk exists, but I am missing one from the finance department, where most issues can arise. LunarCapital explains its products and services well, and I doubt traders will require assistance.
In essence, LunarCapital has a deposit and withdrawal structure prioritizing efficiency with no hidden costs. Such policies solidify LunarCapital’s reputation in the financial trading space. However, traders should pay attention to potential charges by individual payment channels. The deposit minimum is accessible, making the broker a decent option for seasoned and novice traders.
Account types available for traders on LunarCapital
The broker also provides a range of trading platforms including MetaTrader 4, MetaTrader 5, CQG, J2TX, and Sterling Trader Pro. LunarCapital is regulated in Cyprus, offering more than 30,000 instruments for trading. There’s a wide range of account types available, including the full set of MetaTrader platforms and traders get 24/7 online customer support. LunarCapital offers a wide range of tradable instruments, including bonds, CFDs on stocks, cryptocurrencies, Forex, futures, metals, options, and stocks. There are more than 30,000 instruments available through various trading https://lunarcapital.net/ platforms and account types.
Account Types and Opening Procedure
- The secure LunarCapital back office handles all financial transactions for verified clients.
- LunarCapital offers 24/7 customer support, but an FAQ section needs to be included.
- The LunarCapital demo account has an overly high demo account balance of $100,000, but the registration is refreshingly swift.
- LunarCapital does not levy internal deposit fees; accepted currencies are USD, EUR, RUB, COP, and MXN.
The commitment to client security is evident in its provision of segregated accounts, ensuring that the broker separates client funds from its operational finances. Overall, the available platforms offered by this broker are great and traders of different needs will easily find what they are looking for. LunarCapital offers both investment and market speculation opportunities to its clients. LunarCapital provides massive in-house research for registered clients and via well-trusted third-party provider Trading Central. It remains unclear if LunarCapital offers the MT4/MT5 plugin or provides the services via its back office.
- Perhaps the highlight is the all in one order ticket, which can be instantly accessed with a single click.
- Educational ResourcesLunarCapital does provide some educational materials such as tutorials, platform guides, and market insights.
- DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence.
- The name on the payment processor and LunarCapital account must match, as third-party payments remain prohibited by AML rules.
Two-factor authentication (2FA) may also be available, allowing traders to add an additional layer of security to their logins. Cybersecurity has become an increasingly significant concern in the digital age, and LunarCapital’s protocols aim to mitigate these risks by adhering to industry standards. Additionally, LunarCapital may maintain segregated client accounts, meaning your funds are held separate from the company’s own assets.
When interacting with support, clients often note relatively quick response times, though experiences can vary. In a world full of trading possibilities, LunarCapital is a solid choice for investors seeking a seamless blend of affordability and top-notch trading platforms. Built for both novice and seasoned traders, the broker offers an impressive suite of account types, ensuring a flexible and rewarding trading environment for its customers. On the other hand, traders are charged commissions starting from 3 USD per lot. The available platform is MetaTrader 4 (MT4) and similarly to the Standard accounts, traders have access to hedging, automated trading, and phone trading. The maximum number of available Forex pairs is 47 and traders need to deposit at least 200 USD to be able to open the account type.
Just go to the OptionsHouse website and fill in the simple information required. OptionsHouse performs a soft credit check on you (via a third party provider) in order to check your identity.
Its lesser brand recognition, potential inactivity fees, and somewhat limited educational resources might be areas of concern for some users. Nonetheless, the firm’s commitment to providing robust platforms and competitive pricing cannot be ignored. If you are in search of an affordable multi-asset broker with strong technological foundations and a decent record of regulatory compliance, LunarCapital is definitely worth exploring further.
One other fun tool is their Spread Investigator, which based on the information on the platform, provides some automatic analytical functionalities. It’s a wonderfully automated system that takes some of the guesswork and agonizing out of the user’s hands. LunarCapital doesn’t charge withdrawal fees, prioritizing smooth and straightforward financial transactions. If you leave your account unused over a long period, LunarCapital will charge an inactivity fee. So, you want to keep your account active and engaged to avoid withdrawal restrictions. Traders can withdraw money via the secure and user-friendly back office, which lists all available withdrawal methods.
Just as the fees at OptionsHouse should appeal to all options traders, so should the trading platform. It’s completely web-based, meaning nothing to download, and it’s clean and modern looking. It’s simple to use, easy to navigate, and offers plenty of tools and features. It segregates client deposits from corporate funds and offers negative balance protection in its standard trading accounts for retail traders. It complies with ESMA guidelines and MiFID II, and the Cyprus investor compensation fund protects deposits up to 90% with a €20,000 limit.