ELANATRADING

About company:

Bulgarian broker Elana Trading offers favorable conditions for beginners and professionals. On what platforms you can trade and what spreads are available from "Elan", read our review.

 

Company. Fund security

Elana Trading has been operating since 1991 and is one of the top three brokers in the country. The broker is part of the Elana holding, one of the largest Bulgarian institutions in the country's non-banking financial sector.

 

Elana is regulated by the Bulgarian Financial Supervision Commission (FSC) and can operate throughout the European Union. The company is also a member of the Investor Compensation Fund. The fund covers up to 90% of payments from the total amount on the trader's account in case of bankruptcy of the company, but not more than 40,000 BGN (about 20,000 euros).

 

Trading conditions

Elana Trading has two types of active trading accounts - MetaTrader and GlobalTrader. The former provides access to over 70 currency pairs, as well as precious metals and CFDs on indices and minerals. Elana Trading has partnered with SaxoBank, and through this partnership, GlobalTrader provides access to a portfolio of over 180 currency pairs, binary options, CFDs, stocks, futures, options and ETFs.

 

There are also demo accounts for both types of platforms.

 

It should be noted that the partnership with Saxo Bank sets the broker apart from his Bulgarian colleagues.

 

Minimum initial deposit

Elana Trading does not require a minimum deposit to open a trading account. Clients can deposit even $ 1 to start trading.

 

The absence of a minimum deposit is used as a marketing ploy, but, nevertheless, it gives many beginners an opportunity to try their hand.

 

Spreads and commissions

Elana Trading offers fairly tight spreads starting at 0.8 pips in EUR / USD for MetaTrader accounts and 0.0 pips for GlobalTrader accounts. Interestingly, even with these spreads, the broker does not charge commissions and fees. At least that's what he says.

 

Leverage

In Elana Trading, you can use leverage up to 1: 200 on MetaTrader accounts and even lower - 1:50 on GlobalTrader accounts. The global trend today is that regulators require companies to reduce the amount of leverage provided.

 

Trading platforms

Elana Trading offers two trading platforms: the most popular MetaTrdaer4 and Elana GlobalTrader (SaxoTraderGo) from Saxo Bank (available through White Label).

 

SaxoTraderGo is a multi-network platform for Forex, CFDs, stocks, futures and bonds. It is supported by PCs and mobile devices and also has a web version. The desktop and web versions of the platform support its full functions: fast order fulfillment, advanced graphical analysis, technical analysis tools, market news and analysis, economic calendar, convenient workspace. The mobile version only supports basic functions. The platform was developed by Saxo Bank.

 

Support service

All popular methods are available to contact support: phone, mail, fax, online chat.

 

The site, except for Bulgarian, has been translated into English.

 

Ways of payment

Elana Trading accepts deposits via debit and credit card or bank transfer. There is also the option to fund your account at the company's offices.

 

Unlike other brokers, Elana does not accept payments through online systems such as PayPal or Skrill.

 

Pros:

 

Minuses:

 

regulated broker; partnership with SoxoBank; favorable spreads. no promotions, bonuses, analytics, training materials.

 

no promotions, bonuses, analytics, training materials.