About Seventy Brokers
Company Overview
Seventy Brokers is a forex and CFD broker founded in 2019 (according to internal records) and headquartered in Singapore. The broker operates under a license from the Vanuatu Financial Services Commission (VFSC), an offshore regulator known for its lenient oversight. The broker's official domain is seventybrokers.com, and it maintains a presence on Facebook, Instagram, Twitter, and YouTube.
The broker's company description states it was founded in 2021, creating a discrepancy with internal records showing 2019. This inconsistency is notable and may raise questions about the broker's transparency.
Regulatory Status
Seventy Brokers' sole regulatory entity is the VFSC with a Forex Trading License (EP). However, the status of this license is marked as unknown in our records, and the Vanuatu regulatory framework does not offer the same level of investor protection as tier-1 jurisdictions like the FCA or ASIC. The broker's registration in Singapore as a company does not imply financial regulation there.
Traders should be aware that the VFSC does not typically provide compensation schemes or stringent oversight. The absence of a known license status adds an element of risk.
Account Types and Minimum Deposits
Seventy Brokers offers six distinct account types: X-leverage Account (min. deposit $100), CFD Clearing Account (min. deposit negotiable), Premium Integrated Account (min. deposit $10,000), Stock CFD Account (min. deposit $2,000), Integrated Account BTC Based (min. deposit 0.005 BTC), and Integrated Account (min. deposit $100). Maximum leverage ranges from 1:50 to 1:100, depending on the account.
The variety of account types caters to different trader profiles, from low-budget retail traders to high-net-worth individuals. The BTC-based account is a unique offering, allowing deposits in Bitcoin.
Trading Instruments
The broker claims to offer a wide range of tradable instruments, including forex, commodities, indices, stocks, and cryptocurrencies. This multi-asset approach allows traders to diversify their portfolios within a single platform.
However, specific details on the number of instruments or spreads are not provided in our known facts. The broker's official website likely contains more information, but independent verification is limited.
Trading Platforms and Fees
According to the broker's marketing materials, Seventy Brokers operates on the MetaTrader 5 (MT5) platform, a widely used trading terminal. The platform offers real-time data and charting tools, with spreads advertised as starting from 0.1 pips.
It is important to note that these claims have not been independently verified. The broker does not provide detailed information about other fees, such as commissions or overnight financing charges, in the available data.
Target Audience
Seventy Brokers appears to target a broad range of traders, from beginners with low minimum deposits to experienced traders seeking high leverage. The presence of a BTC-based account also suggests an appeal to cryptocurrency enthusiasts.
Given its offshore regulation and guarded risk score, the broker may be more suitable for experienced traders who understand the risks of leveraged trading and are comfortable with limited regulatory protection.
Overview compiled by FXCanary from regulatory records and public data. full Seventy Brokers review