Brokerjet review (2022) Review
Brokerjet is a forex broker company in Cambodia established in 2010 and regulated by SECC. Brokerjet is operated by Broker Jet Co. LTD. The Brokerjet.Asia domain, which is operated by Broker Jet Co. LTD., is licensed by the Securities and Exchange Commission of Cambodia (SECC). This company represents a wide range of products from CFDs, FX and futures with customizable tools and features. They also offer a demo account.
What can be traded with Brokerjet
There are over 100 pairings to choose from, all of which are available to see on the website. They offer two types of accounts. One is a standard account and one is the demo account I mentioned earlier.
Brokerjet.asia is a domain operated by Broker Jet Co. LTD. They are SECC licensed but clearly states that they cannot accept clients from the European Union, Canada, Israel, and the USA. All other clients are OK to trade with Brokerjet.
One of the best educational tools you can get. Usually, demo accounts are offered for free and for a limited time. They come with preloaded, virtual money. You participate in the real market conditions with virtual money, while learning new strategies and techniques. With a zero-risk account, you don’t have to worry about losing real money and you build your trading skills. With Brokerjet the demo account is free of charge with $100 000 preloaded virtual money.
It is mentioned that commission fees are applied, but the specific charges are not set out on the website, so it is unclear if commission fees are applied. Also, swap fees are not mentioned. And if you put “Fees” in the search tool, in FAQ, it shows you information about the Standard account, but nothing about costs.
I`ve decided to try the demo account. I`m a beginner and I need to find my way around things first. It’s simple to find the registration form on their website. A short form comes up and you need to fill in your name, surname, telephone number, email, referral and DOB. More information than with other brokers, but O.K.
The form was filled in a minute, and then, I had access denied. After refreshing the page and trying to add a new account, it was suddenly successful.
I received all my logins in the email. To be precise, I received 3 emails and each email had different login details, so that`s a bit awkward. The next steps aren`t very clear, so in my personal account, I chose “platforms” in the left menu.
I only want to test and not download, so I`ll go for the WebTrader. Then I had to launch the WebTrader again, to fill in my name again and surname. The registration is a bit chaotical. I wouldn`t say difficult. Just chaos.
Broker offers MetaTrader 4, WebTrader and mobile versions so you can trade on the go. The MT4 interface is simple and user-friendly and features multiple windows and tabs that are fully customizable. I chose to try out the WebTrader. The design is a bit old school and rough on the edges.
Looking through the platform, it is very simple and straightforward.
Analytical charts can be configured according to your needs, you can use stop/loss easily etc.
It was quite difficult to find their website. The first impression wasn`t anything extra. It’s clear, functional and has no extra blabber around. There is no live chat and I found no information about fees. Even when I went through the search tool. I also found the information about regulation a bit hazy. So, the website provides not all the information or specific details that would benefit a potential client. They are regulated, but only by the Securities and Exchange Commission of Cambodia (SECC) and not by a more reputable authority. You can contact them only via phone or email. I didn`t see any other option. In the top menu, you can choose from:
- About us
In “Tools” you`ll be able to view public holidays, so they don’t affect your trading. A tool called “Rollover”, where they swap a matured contract price with a new contract before the original price expires. After swapping the contracts, they adjust the difference in price between the two underlying contracts. This allows you to trade without interruption. Also, a Glossary is available for you to go through
I found no link to a social network, so to me, it looks like the only way to keep in contact with them is to give them a call or go through their website daily and check out the news. That`s another downside. Social networking is important for beginners, even professionals. They feel like they`re in a group of people who trade with the same broker. It’s a simple way to give information out to your clients.
Advantages and disadvantages
Brokerjet is a regulated forex broker, with standard instruments. They are regulated and offer a free demo account. They don’t offer all information clearly on their website, which is a big downside, as you shouldn`t register for trading unless you are aware of all information and conditions. The website is simple, clear and functional, but I saw no live chat and they`re not active on social networks. The educational support could be more in-depth.
- No social networks
- No live chat
- Missing information on the website
- The registration for a demo took longer than with other brokers
- MT4 platform and WebTrader
- Low deposit
- Demo account
Pros / Cons