Corner Trader Review
Corner Trader Forex broker description
Cornertrader is a Swiss-based online broker that was established in 2012. It is a subsidiary of the more prominent and popular Cornertrader Group. The company is registered with the Swiss Financial Market Supervisory Authority (FINMA) and is subject to Swiss banking regulations.
The broker offers a range of financial instruments, including Forex, CFDs, Stocks, ETFs, Futures, FX Options, and Contract Options, and is primarily focused on providing traders with a comprehensive trading platform. The broker aims to be accessible from anywhere in the world and at any time of the day. Hence, it offers a platform accessible via desktop or mobile devices, making it easy for traders to trade even on the go.
Aside from its basic trading features and uniqueness, Cornertrader goes a notch higher by offering traders advanced trading tools and features. These include technical analysis tools, customizable charts, and custom indicators. The platform is generally user-friendly and customizable, allowing traders to personalize their trading experience based on their preferences and styles.
Cornertrader also provides educational resources to help traders improve their trading skills and knowledge. The broker also boasts of multilingual customer support available via phone and email.
CornerTrader offers trading services across different regions, predominantly in Asia, Africa, and Europe. Its clients are mainly from Switzerland, Austria, Germany, France, Italy, Spain, and the United Kingdom. The broker’s website suggests its services are unlimited in over 100 countries globally.
However, some countries are excluded from their services due to restrictions of existing local laws in such regions. These countries include Afghanistan, Australia, Brazil, Canada, China, Cuba, Japan, the Republic of Korea, India, Iran, Iraq, Lebanon, Malawi, North Korea, Pakistan, the Syrian Arab Republic, Thailand, the United States of America, Uganda, Venezuela, Yemen, and Zimbabwe.
However, nationals of these countries can access the broker’s offerings if they trade from countries where its services are available.
Customer Service Rating
Cornertrader has a rating of 3.11/5 based on Topbroker's review. This rating suggests that the broker offers decent financial offerings and potential for improvement.
As expected, there are two sides to Cornertrader's reviews on Topbrokers. Some traders are pleased with the broker's offerings and services and have commended it through positive reviews, while others have expressed dissatisfaction with the broker's services.
Many positive reviews were hinged on the broker's wide range of services and offerings. These include its multi-asset proprietary trading platform and helpful responses from the customer support team.
On the other hand, the negative "cornertrader erfahrungen" reviews, as the Germans say, bother around slow responses from the customer support team, limited funding options, and the absence of live chat on the website.
Unlike many other brokers, CornerTrader provides its proprietary trading platforms that offer multiple assets to meet the specific needs of its clients. Below are full details of each of these trading platforms:
The FLEXibility Platform: As the name suggests, this multi-asset trading platform has many benefits that give traders flexibility in managing their investments. For instance, it offers a range of instruments, including Futures, FX, Options, and CFDs. This platform can be accessed from different devices, such as tablets, computers, or phones. This means traders can manage their investments from anywhere in the world. It offers advanced charting tools and flexible working space, making it a powerful tool for novice and experienced traders who want to diversify their portfolios and maximize their profit using a quick and easy trading platform.
The Invest Platform: This trading platform has been specifically tailored to meet the needs of investors who prefer non-leveraged products. It provides a wide range of non-leveraged products, including stocks, and allows investors to invest in cryptocurrencies. The platform also offers all the necessary functionalities and information to monitor investment portfolios from any device, making it easy for investors to keep track of their investments wherever they are. Investors can also get a consolidated and concise portfolio overview of their assets on the platform. This means they can easily track the performance of their investments and make any necessary adjustments. That's not all. Traders also access a simple and user-friendly interface and relevant investment themes.
The Advance Platform: This trading platform is designed for professional and active investors, brokers, and institutional clients who want to push the boundaries of their investments. It offers a wide range of financial products, including investment products like stocks, ETFs, and leveraged products such as FX and CFDs. The Advance platform runs as software on Windows PC or MAC, supporting multiple screens. The platform provides innovative functionalities, customization options, and information to help traders take their investment strategies to the next level and maximize profits.
The iCornèr app: This app is an all-in-one platform. The platform is designed to give traders full control of their trading accounts, Cornèrcard payment cards, and access to the financial market. Via this platform, traders can also get research, analyses, and market commentaries on numerous instruments. With the iCornèr app, traders can receive push notifications about margin utilization, orders, and trade confirmations on their phones. They can also easily monitor their positions, and place, modify, and cancel orders. The iCornèr user-friendly interface also makes trading on the go much more convenient.
Type of Trading Accounts
CornerTrader offers four different account types to cater to the needs of different traders. Each of these accounts has its unique features and benefits, and traders can choose the one that best suits their trading needs and experience level. These account types include the Private Account, the Capital Account, the Pro/VIP Account, and the Demo Account. The details of each are discussed below.
The Private Account: This account is suitable for individual traders who want to trade on a self-directed basis. Low-frequency or beginner traders can also opt for this type of account. The private account requires a minimum deposit of CHF 2,000. On this account, traders have access to a wide list of benefits, including a variety of financial instruments, trading support, multiple platforms, a Traders Card from 40 CHF per year, free financial news, free in-house seminars, and financial research which costs only CHF 10 per month.
The Capital Account: This account is designed for more experienced traders who seek bigger portfolios and require higher trading limits. It requires a minimum deposit of CHF 75,000 and offers traders access to leveraged products. The Capital Account offers the same benefits as the private account but tops its offering with more unique features. Traders using this account enjoy optimized pricing from trading with three currencies and more advanced trading tools.
The Pro or VIP Account: This account suits sophisticated, professional, and institutional traders who require high-volume investment trading limits. The minimum deposit requirement is based on the trading volume. Traders on this account enjoy access to premium services such as personalized support, custom-made pricing, and custom-built solutions. They also get free access to optimal features that other traders on some other platforms may not enjoy or even pay a certain fee to access.
The Demo Account: This account is designed for beginner traders who want to familiarize themselves with the trading environment or traders who want to test new trading strategies without risking their capital. It offers virtual funds to practice trading and access to all the features of the live trading platform. It should be noted that the demo account is only available for a limited time.
CornerTrader offers a range of base currencies for traders to choose from. The base currencies are CHF, USD, EUR, JPY, GBP, AUD, CAD, NZD, SEK, RUB, SGD, PLN, and CZK. It also provides some degree of convenience for traders who want to manage their trading accounts in their preferred currency.
With this variety of base currencies, traders can trade in their local currency, avoiding the need for currency conversion and the accompanying fees. This makes deposits or withdrawals easier; hence, several positive Cornertrader erfarung comments from German traders.
Cornertrader is a Swiss-based online broker that provides investment services to clients worldwide. The company was founded in 2012 and is headquartered in Zug, Switzerland. It is registered with the Swiss Financial Market Supervisory Authority (FINMA) and operates under its regulatory framework.
CornerTrader is a subsidiary of Cornèr Banca SA, a leading Swiss bank operating for many decades. As such, CornerTrader benefits from the bank's stability and reputation in the financial industry. Also, the management team at Cornertrader consists of experienced professionals in finance and technology.
Cornertrader operates daily by providing clients with a user-friendly trading platform, competitive pricing, and exceptional customer service. The company offers a wide range of financial products for trade, which include stocks, bonds, options, futures, and cryptocurrencies. It also provides clients with unique tools to make their trading experience seamless.
Licenses and Regulatory Compliance
As a Swiss-based financial institution, CornerTrader is subject to the Swiss Financial Market Supervisory Authority (FINMA) regulations. FINMA, responsible for supervising and regulating financial institutions, including banks, insurance companies, and securities dealers in Switzerland, ensures that the broker operates per the relevant financial regulations and adheres strictly to all its existing laws.
CornerTrader also holds a banking license, which allows the broker to secure client funds and offer banking services. The broker is also a member of the Swiss Bankers Association and the Swiss-American Chamber of Commerce.
CornerTrader provides customer support through email and telephone, available 24/5 from Monday to Friday (8 am – 6:30 pm). Although live chat is unavailable, the response time is fair, with prompt and informative answers to customer inquiries.
The broker supports multiple languages, such as English, French, German, and Italian, making it easier for traders to contact the support team in their preferred language. Many traders have shared positive corner trader erfahrungen feedback on this service.
Every broker's duty is to protect its client's assets and investments; Cornertrader is no exception. The broker offers various customer protection measures to ensure the safety of its client's funds. These measures include:
Regulatory Compliance: By being regulated by FINMA, CornerTrader must adhere to strict regulations that protect clients' funds and ensure fair trading practices.
Segregated Account: Cornertrader clients' funds are kept in segregated accounts, separate from the broker's operational funds, which protects them from being used for purposes other than clients' trading activities.
Compensation Scheme: CornerTrader is a member of the Swiss Investor Compensation Scheme (SIC), which provides compensation of up to CHF 100,000 per client in the event of the broker's insolvency.
CornerTrader offers a wide range of tradable instruments clients can access on its proprietary trading platform.
The tradable products are subdivided into Leverage products and Investments products, allowing traders to choose the one that best suits their trading needs and goals. More details of its trading instruments and activities based on this Cornertrader broker review are discussed in the succeeding sections.
Cornertrader has a wide collection of trading instruments. Its collection of trading instruments is unique and versatile. The broker's trading instruments include:
Contracts for Difference (CFDs): Cornertrader clients can trade CFDs on various assets such as forex, commodities, and indices, which allows them to speculate on price movements without owning the underlying asset.
Stocks: CornerTrader provides access to trade stocks of major companies such as Apple, Amazon, and Facebook, as well as other companies listed on major stock exchanges worldwide.
Exchange-Traded Funds (ETFs): Clients can invest in a wide range of Cornertrader ETFs that track various indices, sectors, and commodities, providing them with diversified investment opportunities.
Options: Clients can trade options on stocks and currencies, providing them with opportunities for hedging and speculation.
Cryptocurrencies: CornerTrader allows trading in popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. This provides an opportunity for clients to invest in digital assets that are increasingly gaining popularity.
Cornertrader reviews suggest that traders have access to leverage of up to 1:200. It's important to note, however, the broker doesn't state the exact figures on its website. This Corner trader broker review has considered FINMA leverage standards. The regulator stipulates that traders can access leverage of up to 30:1 on any of its licensed broker platforms.
Deposits and Withdrawals
The minimum deposit required on cornerTrader will depend on the type of account used. For Withdrawals, there are no available details on the broker's website. This corner trader review was however able to gather a few details which are discussed in subsequent headings.
The deposit process on Cornertrader is not similar to any other broker. The broker demands that an International Bank Account Number (IBAN) be assigned to every account holder by Cornèr Bank. This number is what traders must use to deposit funds into their Cornèrtrader account.
Again, Cornertrader is unlike any other broker regarding funds withdrawal. This process is not usual, as clients are mandated to contact the Cornertrader support desk to seek assistance with withdrawal.
Trading Education and Training
CornerTrader offers a variety of education and training resources for traders. Their comprehensive guides provide detailed information on trading strategies, risk management techniques, and trading psychology.
Cornertrader also offers its clients one-on-one meetings with experienced traders for personalized support and guidance. The broker complements this effort by sending alerts for upcoming events and webinars where traders can further their knowledge and skills.
The educational and training resources provided by Cornertrader are valuable for traders of all levels, from beginners to experienced professionals. The combination of educational resources, personalized support, and event alerts demonstrate Cornertrader's commitment to helping its clients become successful traders.
Is Cornertrader regulated?
Yes, Cornertrader operates under the Swiss Financial Market Supervisory Authority (FINMA) regulations.
Is MetaTrader 4 and 5 available on cornerTrader?
No, Cornertrader does not offer the MetaTrader 4 and 5 trading platform, but it has its proprietary platforms that can offer the same features any trader would want to have on their trading platform.
Is Cornertrader available in the U.S.?
No, this Corner trader broker review deduced that the broker's services are not available to U.S residents.
CornerTrader is a reputable online brokerage that provides its clients with a user-friendly trading platform, a wide range of tradable instruments, and an array of educational resources to help them succeed in the financial markets. The broker offers a variety of account types to cater to the different needs of its clients and educational resources to aid their expertise.
Cornertrader is regulated by one of the most reputable financial authorities, FINMA, to ensure the safety of clients' funds. The broker also has decent customer support via phone, email, and the broker's website. While customer support may be limited by the absence of a live chat and 24/5 availability, the swift and polite response of its multilingual customer support team overshadows these limitations.
For more top brokers, make sure to check out our Hantec Markets review.
Contacts of Corner Trader
Recent customer reviews of Corner Trader
Advantages: Investing in PAMM Small minimum deposit Reliable regulator
Disadvantages: There are many complaints about cheating with quotes and delaying the withdrawal period
Comment: It is considered one of the oldest participants in the Forex market. The company offers a wide range of services for trading and investing. Forex companies whose reputation has been confirmed by thousands of traders. The broker is more suitable for professional, experienced traders who want to develop several areas of trading at the same time: from scalping and intraday manual strategies to algorithmic trading and passive investing.
Advantages: Low spreads A wide range of trading instruments Reliable Transparency
Comment: The first thing I liked was the Russian-speaking nature of the site, which is rarely found with a European broker, in addition, there is a huge selection of instruments for trading, very low spreads from 0.2 in majors, the account, the minimum deposit is 5000USD - it seems to me very high, but when you open an account, keep in mind it will be opened in Switzerland, while the broker himself will be as a bank manager. The broker offers its own universal platform with access to Forex, Stocks, Futures and CFDs. Very convenient.
Advantages: The advantages of the CORNER TRADER broker include low spreads, high execution speed, low commissions and access to margin lending.
Disadvantages: The disadvantages of CORNER TRADER broker are high fees when it comes to withdrawing money from your account or when you need help with your account.
Comment: It is an online trading platform that allows traders to trade with leverage and make transactions with various assets. The platform also offers a wide range of tools for its users, such as mobile trading and margin lending, which are necessary for its success.