Renesource Capital is a major Latvian broker. Renesource Capital was founded in Latvia in 1998 as an investment broker and was licensed as a professional securities market participant.
- Start year:1998
- Country of origin:Latvia
- Payment options:bank wire
- Minimum account size:$10
- Minimum lot size:0.01
- Leverage:up to 1:100
In 2012, the company achieved the status of an ECN broker, and in 2013 it was licensed by the Financial and Capital Market Commission of Latvia (FCMC), which resulting in an expanded range of the services provided.
Like most European regulators of financial markets, FCMC makes a number of rules and requirements for regulated companies, such as storage of clients’ funds in segregated accounts and participating in customer compensation programs. As a rule, all forex brokers registered in Latvia should be regulated by FCMC. Renesource Capital meets all the required regulations and complies with the Latvian law.
Clients can trade 90 currency pairs, gold and silver, CFDs on oil, indices and copper as well as options, ETFs, shares, futures, bonds and commodities. There is a sufficiently large number of available trading assets, thanks to which the broker stands out from others.
There is no free demo account.
According to the Renesource Capital terms, minimum deposit is only 10%. The deposit size corresponds to those of other stock exchange brokers regulated in the EU. However, some companies offer trading with $1.
The highest deposit of $50,000 is required for the FX Prime account.
Spreads and commissions
Renesource Capital offers a wide range of currency pairs, variable spreads from 0 pips for FX Prime and FX Pro accounts with the commission of $25. Spreads on Micro and Classic accounts are also variable and start from 0.3 pips.
Renesource Capital provides the maximum leverage of 1:100, which is not the highest offer in comparison with other brokers. Except for those companies, which are limited by the law of the country, the average size of leverage is 1:500. However, some companies offer 1:1,000 or even 1:2,000 on Micro accounts.
Renesource Capital offers three trading platforms: popular MetaTrader 4 (MT4) as well as less popular Currenex and Integral platforms.
The Currenex trading platform provides one of the highest liquidity in the market. The platform connects traders who buy and sell assets through the electronic currency network (ECN) and provides trade with the help of the straight through processing technology (STP). The platform is available for FX Prime trading accounts.
Integral gives clients direct access to ECN technology. Several liquidity providers ensure a consistent flow of liquidity. You can trade more than 80 currency pairs, without trade restrictions on strategies. The platform is perfect for scalpers and those who employ aggressive trading strategies. The platform is available only to the owners of FX Prime accounts.
Customer support service is available by phone, fax, skype, and e-mail. The broker does not provide online chat, which is popular with many traders now. Telephone numbers are indicated for different groups of assets: currency pairs, CFDs, shares, stock options and bonds, as well as futures, futures options, and commodities.
Training materials of the company include traders’ encyclopedia, where you can find different ratings, glossary and useful links.
The website is also available in Russian.
Deposits are accessible only through bank wire transfers. Neither credit cards nor electronic payment systems like PayPal or Skrill are available in the company.
The same goes for the ways to withdraw funds. Commissions of EUR 35.00/USD 50.00 are charged for depositing and withdrawing funds. Accordingly, despite the fact that the broker indicates the minimum deposit of $10, in fact you have to deposit at least $60. In addition, inactive accounts are also subject to an additional commission of up to EUR 35.00/USD 50.00. Traders can also purchase an unconventional report for 10 euros.