Nowadays we are spoiled for choice when it comes to choosing Forex brokers. Indeed, it seems like new brokerages are springing up every week. Although this is good for the industry as a whole, it is getting harder and harder for traders to know who they can trust. Both novice and experienced traders can take massive risk placing their trust and money with shady brokers.
There are some brokerages that are an easy recommendation for those who are just starting out their online trading careers, while others are better suited to those who have spent years, if not decades in the Forex industry. There is, of course, a middle ground with brokerages offering both accessibility and long-term appeal at the same time.
This review will reveal just what made Arrowteks so appealing to traders worldwide. We breakdown all its offering in order to find out if Arrowteks is a legitimate broker. By the end, you should have a clear picture if this brokerage is worthy of your time and money.
Before we address the ins and outs of the platform itself, we have to mention a very important, yet often overlooked feature. Although it is said that you should not judge a book by its covers, it is very important to leave a good first impression in this industry. You can know a lot about a brokerage, just by taking a quick glance at their homepage.
Arrowteks establishes a strong connection with its client from the very first moment. Their website is clean and easy to navigate while offering plenty of information in just a few clicks. While many scam operations use cookie-cutter web solutions, you can tell, a lot of thought and effort went into making Arrowtek’s online presence.
Arrowteks welcomes traders of all levels, and this is most apparent in its account type offering. There are four types on offer, each suited to a different type of trader. Regardless of your experience and preference, you can find something you like here.
The starting point for many is the Silver account that starts with a minimum deposit of 250 EUR. For this price, you are allowed access to more than 200 assets. You can explore news and market trends with market reviews and enjoy leverage of up to 1:100.
Going further up, there is the Gold account. The minimum deposit is 10,000 EUR. At this point, you receive higher leverage of up to 1:200, monthly webinars to improve your skills, risk management planning and even bonus funds.
In order to become a Platinum account holder, you will need to deposit at least 50,000 EUR. List of features grows exponentially as you receive private analyst sessions, weekly webinars and most importantly, trading signals.
Finally, there is the VIP account, which is only attainable with a special invitation from Arrowteks. This top-tier account holds the very best this brokerage has to offer. VIP traders receive full access to webinars, highest possible leverage of 1:400 a prioritised withdrawal status.
In recent years we have seen many brokerages taking notice of the importance of providing education to its traders. While some opted to hide away all resources behind the high-tier account, some barely even provided the most essential trading information on their website. It is a breath of fresh air to see how Arrowteks takes care of its clients.
Before you even consider opening an account, you can visit the Education centre and get to know how everything works. There are plenty of eBooks that cover topics ranging from beginner strategies all the way to advanced technical analysis. In addition to the Glossary, this is essential learning materials for those who are considering making their first trades. If there are still some questions you would like to be answered, Arrowteks provides quite a substantial FAQ page that addresses questions regarding funding, trading, the platform and much more.
Seasoned traders should not worry. When selecting your account type, you will get access to additional educational tools that are more suited for experienced traders. The higher-tier account you choose, the more benefits you receive. These include private analyst sessions, webinars, risk management planning, financial planning, trade signals, trade room analysis and much more.
MetaTrader has been a household name in the industry for many years. In the beginning, we were puzzled by the absence of both MT4 and MT5 platforms. However, after spending some time with Arrowteks web-based platform, we are happy to report that their solutions are more than elegant.
Regardless of the platform, most traders will agree that speed and reliability are the two most important features. Arrowteks manages to pass this test with flying colours. Using its web-based platform is seamless, whether you are logging in on PC, mobile or tablet device.
You can easily find anything you want on the platform in a few clicks. Whether you want to add funds to your account, check out your open positions, or just browse the settings, everything is laid out in a single column menu that is easily accessible at all times.
Another huge plus for Arrowteks is the vast number of financial instruments available for trading. Unlike some brokerages, who chose to focus on certain assets, Arrowteks has it all. You can build your portfolio with more than 200 assets including Stocks, Currency pairs, Commodities, Indices and Crypto. Choosing your preferred asset presents you with a powerful chart that highlights everything you need to know about that asset’s performance.
Arrowteks has obviously put in serious time and effort into its support system. There are several ways to contact them and all of them work like a charm. If you wish a speedy answer, Live Chat is your best option. They are well equipped to address any trader queries, and if you are on Arrowteks website between Monday and Friday 06:00-13:00 GMT, they are your best option.
However, if you prefer to talk to someone in person, there are two lines available, one in Australia, and one in the United Kingdom. Their operators are available Monday to Friday 04:00 – 18:00 GMT. My experience talking to their agents was positive as they were very polite and quick to answer all my questions.
Finally, you can submit your question via the form on their Contact us page. You can choose between several different topics to ensure you receive a speedy reply.
Both depositions and withdrawals can be made using the most popular methods of payments in the online trading industry. Clients can choose between credit/debit cards, bank wire transfers and Bitcoin. Each method has its benefits, and since all of them imply the same level of fund safety, it is simply left to the client’s preference.
Arrowteks has lowered the entry point for traders wishing to trade with them by requiring a minimum deposit of just 250 EUR. This way, more traders are encouraged to try out the platform and experience everything his brokerage has to offer. A withdrawal fee of just 1% also works in favour of traders looking to experiment with new trading strategies. This fee does not scale up according to the amount you wish to transfer to your wallet, so it will be perfect for high volume traders.
Arrowteks has made additional steps for ensuring clients safety. Identity verifications is an essential tool used for withdrawals. Even though this slows down the entire process, in modern times it is absolutely necessary to protect clients at all times. With this mechanism in place, it can take around 7 working days to transfer your funds to your wallet.
If at some point you change your mind, you can cancel your withdrawal, regardless if your request has been processed or not. This flexibility is a big advantage given how uncommon it is in the world of online trading. Furthermore, you can take advantage of Arrowteks refund policy at any point. This is almost unheard of and must be commended. Traders get the opportunity to back out at any point and get their money back.
How good is Arrowteks?
I can say without a doubt that Arrowteks is a reliable broker with advanced technology. If you want to keep it clean and simple, their web-based platform is the way to go. With a comprehensive education centre and a welcoming support system, you should look no further in your search for a trustworthy broker. Arrowteks is a fully legitimate broker that has earned our trust.