Ellevest Guide – Read our In-Depth Ellevest Review
This Ellevest review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations, the content in this Ellevest review does not apply to US users.
If you're a new entrant in the world of trading and broker, so many details will be perplexing for you. Getting into the world of trading requires expert assessing skills and thorough knowledge. You'll get adept at all of the concepts of brokerage as you keep trading. For starters, you need to choose the right broker who'll be clear with you constantly.
Within this fast-paced universe of stock markets and trading, you'll need advice to make correct decisions. A professionally direct investment plan will generate hefty returns. Ellevest is just one such platform which will take you along with your investment to great heights. It is important to know all about Ellevest before you trust them with your cash.
Our entire Ellevest Review covers all you will need to know about trading with Ellevest. A good agent can multiply your initial investments and give you favorable profits. If you would like to earn profits, you must trade with a brokerage service that aligns with your investing goals.
There's absolutely no sure-fire method to guarantee profits; therefore, you should carefully assess your agent before you select them. It is a frequent misconception that all brokers will be the same, but that is not true. Wrong judgment, in the beginning, can put your investments at risk.
Ellevest is a broker that has paved its way successfully into the brokerage world. Within this review, we have tried to collate some of the vital aspects of Ellevest. This review will help you to understand whether Ellevest is a fantastic match for your investments or not. We have attempted to breakdown all the qualities and charges for your advantage.
Ellevest Review, Table Of Contents
- Who are Ellevest?
- Benefits Of Trading With Ellevest
- Everything you should know about trading with Ellevest
- Is Ellevest Safe To Trade With?
- Pro's & Con's Of Trading With Ellevest?
- Compare Brokers Similar To Ellevest
- Regulation And Licencing In More Detail
- Ellevest Awards
- Minimum Deposit Required For A Live Account With Ellevest
- Ellevest Commission And Fees Explained
- Compare broker fees against Ellevest
- Ellevest Withdrawal Fees Explained
- Ellevest Deposit Fees Explained
- Compare Broker Deposit Methods
- What Can You Trade With Ellevest?
- Alternatives To Ellevest
- Frequently Asked Questions About Ellevest
Who are Ellevest?
Ellevest is a foreign exchange broker headquartered in USA and provides a range of tools for trading. Since its start in 2008, Ellevest has emerged as a leading player in the field of online broker. Ellevest includes a highly competitive and full-featured trading site that's focused on forex, indices, metals, shares, commodities.
Over the past 13 years, Ellevest has grown into one of the leading online brokers.
After launching in 2008, their client base is becoming as large as 10,000+ clients.
Ellevest is a favorite for many dealers.. Our Ellevest review discovered that they're an excellent alternative for automated trading options. They're most appropriate for investors who are searching for an assortment of assets. Social and automated trading solutions are the heart at Ellevest.
Technology plays a substantial role in Ellevest. Ellevest offers trading on Windows, Android, Mac OS, iOS. Ellevest is honest, transparent, and a well-regulated agent by the Unregulated. Their outstanding array of resources will be beneficial for the majority of traders. Third-party partnerships also supply in-house research.
The trader resource section at Ellevest is quite enlightening for new traders as it permits them to have a closer look in the financial markets. Ellevest caters to all types of traders and are a must-have broker for almost any well-diversified approach to trading.
If you feel that Ellevest is not right for you then at the bottom of this Ellevest review you wil find a lot of alternatives to Ellevest.
Everything you ought to know about trading using Ellevest
Ellevest is a lively platform that offers various techniques of trading online. These instruments cover the financial markets considerably. The Majority of the broker platforms provide less approaches than Ellevest
If you want to exchange with Ellevest, you'll require a minimum deposit of $1. This deposit is compulsory if you would like to begin trading using Ellevest. This 2021 Ellevest review will guide you easily about trading with them.
Ellevest is as flexible as another broker platform. Ellevest is excellent for traders who want a manageable range of low-cost services. The platforms supplied by Ellevest are third-party, white-label offerings. All traders can select from Windows, Android, Mac OS, iOS.
Together with everything, Ellevest has multiple benefits to new and verteran traders and should be investigated. There is no minimum time over which a trade must be kept open. The brokers offer premium client service which rewards customers with advantages.
Many less reputable brokers attempt to pressurise users into bigger financing for premium services. Ellevest, on the other hand, is much more focused on trading volume. Dealers can expect trading conditions to be reasonable, honest and transparent. The more lots traded by the consumer, the further benefits will come along.
Ellevest accounts are available around the world and provides excellent service everywhere they have clients. There are a few countries where Ellevest accounts are not available. Traders in the following countries cannot open or use a Ellevest account:
Is Ellevest Safe To Trade With?
Launched in 2006, Ellevest has been in operation for 13 years, they have a head office in USA.
Ellevest is regulated by Unregulated. These bodies have rules that mandate that trading platforms have ploicies in place to keep investor's resources procured. This means that Ellevest users don't need to be worried about their money since it is segregated and safely kept in banks that are established. SSL encryption simplifies each user's private information as well.
You can make use of a choice for 2 Factor Authentications (2FA) with Ellevest for increased security. An SMS for the verification code will be sent to a phone. You'll be asked to enter this code to log into your account.
Another concern with fiscal brokers with respect to security may be manipulation of trading. This is highly disadvantageous for users on those platforms. Nonetheless, this is much more widespread in the case of Market Maker brokers who compete with customers on the stage.
Pro's & Con's Of Trading With Ellevest
Every online trading platform has a few ups and downs, and no Ellevest review would be complete without having a balanced approach. This Ellevest review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
- Ellevest is trusted by 10,000+ clients
- Ellevest doesn't charge inactivity fees
- Ellevest doesn't charge deposit fees
- Ellevest doesn't charge CFD fees
- Ellevest offer trading on Windows, Android, Mac OS, iOS
- Ellevest offer 275 trading instruments
- Ellevest can communicate in
- Ellevest does not offer Negative Balance Protection
- Ellevest does not offer Guaranteed Stop Loss
- Ellevest charge withdrawal fees
- Ellevest doesn't trade major forex pairs
- Ellevest doesn't trade minor forex pairs
- Ellevest doesn't trade exotic forex pairs
- Ellevest doesn't offer trading on cryptocurrencies
Ellevest Review - Compare Brokers Similar To Ellevest
|Ellevest||eOption||Boston Merchant Financial||Direct FX|
|Regulated By||Unregulated||Unregulated||Australian Securities and Investment Commission (ASIC)||Unregulated|
|Find Out More|
|Risk Warning||Your capital is at risk||Your capital is at risk||Losses can exceed deposits||Losses can exceed deposits|
Ellevest Review - Regulation And Licencing In More Detail
Ellevest is regulated by Unregulated.
Ellevest, as a company, has a strong collection of rules for ensuring fair trading onto its own platform. For data encryption purposes, it supplies an industry-standard secure socket layer (SSL).
As per the company's privacy regulations, customer information is to not be shared with some other institutions or individuals. Including credit history and other financial information.
Ellevest Review - Awards
- At the time of writing this Ellevest review, they had not received any awards.
Ellevest Review - Minimum Deposit Required
The minimum deposit you must deposit to begin on Ellevest is $1. This is a decent amount for those just beginning. You can create more advanced deposits as you cooperate. However, make certain that you know how to make the most of your cash before investing larger amounts.
Ellevest Review - Commission And Fees Explained
Ellevest is an online brokerage platform, and many online brokerages charge lower fees than traditional brokerages tend to charge. The reason for this is that the companies of online brokerages are scaled much better. In other words, an internet broker is not necessarily affected by the number of customers they have.
But this does not necessarily mean that online brokers do not charge any fees. They charge prices of varying rates for various services to earn money. There are primarily 3 types of penalties for this objective.
The first kind of fees to keep an eye out for are trading charges. Whenever you make an actual trade, like purchasing a stock or an ETF, you're charged trading fees. In these instances, you are paying a spread, financing speed, or a commission. The kinds of trading fees and the rates vary from broker to broker.
Commissions can be fixed or determined by the traded volume. On the flip side, a spread denotes the gap between the buying and selling cost. Financing or overnight rates are people who are billed when you hold a leveraged position for more than a day.
Aside from trading charges, online brokers also charge non-trading fees. These are determined by the activities you undertake on your account. They are charged for surgeries like depositing cash, not trading for long periods, or withdrawals.
Generally, Ellevest does not charge high fees in comparison to other online brokers. For operations other agents fee for, they do not charge a brokerage fee, or they charge a smaller amount. This is beneficial for those who regularly exchange, for example weekly or daily trading.
However, non-trading fees billed by Ellevest are relatively competitive. As a result, you're billed more for non-trading actions in your trading account, such as deposits and withdrawal. These are not related to the purchase and sale of assets.
This Ellevest review breaks down each of the applicable non-trading charges for you in detail.
Compare broker fees against Ellevest
|Ellevest||eOption||Boston Merchant Financial||Direct FX|
Ellevest Review - Withdrawal Fees Explained
Ellevest charges a withdrawal fee if you make a bank transfer. Every time you transfer money back into your bank accounts, these withdrawal charges become applicable.
Withdrawal of cash is possible at any time from your Ellevest account. You can draw up sums to the amount of your account balance, keeping aside the perimeter utilized. One thing to keep in mind is that you don't necessarily need to have any money in your account.
Moreover, the withdrawn money will be moved directly to the accounts you use to create deposits. Therefore, if you used a credit card for deposits, the withdrawn money is going to be sent into the card. Ellevest will ask you to provide other withdrawal methods in case your details have changed since your deposit.
There is a minimum withdrawal amount. In case you're withdrawing cash in different currencies from USD, a conversion fee is also important. The conversion fee will depend on the currency you're choosing to withdraw in.
Ellevest Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is only one of the buzzing questions which run through your head while open an account with Ellevest. An inactivity fee is an amount charged to registered dealers that have not participated in purchasing or selling for a while. The period regarded as inactive is determined by the agent.
The inactivity fee also differs from one broker to another and is not standardized. If a traders account doesn't have a purchasing or selling transaction, it is claimed by the agent as an inactivity fee. The traders need to pay this fee under terms and conditions that they had consented while enrolling.
Ellevest doesn't charge inactivity fees so you are free to use your account as needed
Even if no fees have been implied by Ellevest, it is better for you to close the account if you're inactive. Inactivity fees are not only charged by broker companies but also many financial services.
For additional trading platforms, the inactivity fee depends upon the type of account you've selected. The inactivity fee is exposed to many circumstances and needs to be revealed clearly by the broker beforehand.
Ellevest Review - Deposit Fees Explained
When you move money into your trading account by the bank account, a deposit fee can be charged by the broker. Most brokers do not charge an excessive amount of money for this operation.
Ellevest doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed
Depositing cash on the Ellevest trading platform is simple. You simply have to complete a single-user profile questionnaire to begin depositing money into your trading account. You'll need to provide an identity evidence and proof of residency to deposit large amounts.
Ellevest Review - Compare Broker Deposit Methods
|Ellevest||eOption||Boston Merchant Financial||Direct FX|
What Can You trade With Ellevest?
Note: Ellevest provides a lot of different trading instruments due to regulatory restrictions in various countries. Trading instruments offered may differ depending on the country of residence of the client.
Ellevest has a wide variety of over 275 instruments available for you to trade with.
If trading currency pairs is of interest to you then Ellevest offer over currency pairs.
Compare Ellevest, eOption, Boston Merchant Financial & Direct FX below.
Alternatives To Ellevest
If, after studying this Ellevest review, Ellevest does not fulfill your requirements check out these Ellevest alternatives.
We have scoured the web to find the best alternatives to Ellevest. Click the links below to learn more.
Frequently Asked Questions about Ellevest
Can I try Ellevest before I buy?
Yes, you can most definitely try Ellevest before you buy. Ellevest provides demo accounts for the convenience of inexperienced traders. You may use this feature to build your faith in the machine and yourself and your trading strategies.
If you register for a demo account on Ellevest, you may set out with a decent amount of virtual currency. It's to establish a sense of safety and confidence in you before you choose to invest your own money.
With this virtual Ellevestdemo account, you can experiment in any way, to whatever period you desire. You might even start positions, examine different trading approaches, and much more.
Ellevest specifies on its official site which you can exchange real time stocks in a demo account.
Is Ellevest safe?
You can drop all your worries since we believe that Ellevest is totally safe to use. It's in compliance with all the principles of Unregulated.
Even so, Ellevest does not provide assured stop-loss protection.
Why does Ellevest ask for my passport?
The reason that Ellevest asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, Ellevest has to be careful that they don't breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, Ellevest must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law.
How can I start trading with Ellevest?
The process to start trading withEllevest is perhaps simple enough to be a cakewalk. You need to begin by signing up on the Ellevest website. It will require you to fill in details pertaining to the credibility and security of your account.
Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live acocunt with Ellevest is $1. You should have a good hold over the nuances of online trading before you set out and trade with real money.
If you are confident of your knowledge and understanding, you can open an account with Ellevest.
The best way to kickstart your trading career with Ellevest is to open a demo account facility before risking any real money
What funding methods do Ellevest accept?
There are a number of methods to finance your account with Ellevest. The process is effortless and quick, with various payment methods at your fingertips.
You can use credit or debit cards ranging from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal is also at your disposal for depositing funds. You must bear in mind that PayPal isn't available in every country. The currencies Ellevest
Is my money safe with Ellevest?
Yes, your cash is safe and protected with Ellevest. As you know, Ellevest operates with proper conformation to. It has established plenty of measures to protect all its own investors.
Ellevest safeguards its clients' personal and sensitive information under SSL encryption. Your capital will be retained highly secure in top-tier banks.
If you wish to further protect your accounts, it is possible to empower Two-Step Verification as well. It takes an SMS confirmation for you to access your accounts.
Is Ellevest trading good?
Yes, trading through Ellevest is a nice and good experience indeed. It's an excellent and intuitive platform with useful features for your ease. In addition, you could even obtain access to a vast selection of educational resources and assistive material to kickstart your trading expertise.
If you remain skeptical, you can open a eToro demo account and evaluate the trustworthiness of the platform on your own.
Which Countries does Ellevest support?
Ellevest operates across the globe. However, due to regulations there are some countries that Ellevest cannot accept clients from
Is Ellevest legit?
Ellevest is a legit company headquarted in USA since 2008. They are regulated by Unregulated. Ellevest is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams.
Is Ellevest a good broker?
Ellevest is a great broker, and its users can vouch for this. The highlight of the platform is its fast order execution on trades.
You will find the clean design of the platform along with the commendable features that a pleasure to work with.
Is Ellevest a trustworthy broker?
Yes, Ellevest is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 10,000+ users registered with them can reaffirm their trustable nature.
What is the minimum deposit for Ellevest?
The minimum deposit to open a live account with Ellevest is $1
How long do Ellevest withdrawals take?
Normally, withdrawal of money from Ellevest is actioned within a couple of working days but depending on the withdrawal method chosen, it could take up to 7 working days for the withdrawal from Ellevest to show in your bank account.
Are Ellevest regulated?
Ellevest are regulated by Unregulated
Is Ellevest a market leading broker?
Ellevest is indisputably one of the industry leaders. It supports over 10,000+ registered customers and over 13 years of experience on its own record. They are one of the world's top trading platforms and also a dominant figure in the Fintech revolution.
It simplifies this standing to its unbelievable platform and broad range of tools plus resources so that you may put money into capital markets.
Is Ellevest a con?
No, Ellevest is not a con. They are regulated by Unregulated and must adhere to their rules. Thus, it is safe to say that Ellevest is not a scam.
Can you make money with Ellevest?
Through Ellevest, many traders earn a great deal of money. But typically, through continual trading, you also can make between 2% - 10% profit a month.
This can look like a small number, but within the entire year, this adds to a significant number of gains. Even though Ellevest provide you all the tools to make money, they can't guarantee you will profit.
Does Ellevest have fees?
Yes. To begin trading using Ellevest, you have to deposit $1. Particular commissions while trading additionally apply. Any processing fees from your bank will need to be incurred by you.
When was Ellevest founded?
Ellevest was founded in 2008 in USA. Ellevest is regulated by Unregulated.
How many people use Ellevest?
Ellevest is a worldwide recognised broker with 10,000+ clients.
Where is the Ellevest head office?
Ellevest has its head office in USA
Does Ellevest offer negative balance protection?
No. Ellevest does not offer negative balance protection. If your balance is negative, Ellevest suggests you promptly contact client services. With this, you are able to fix any imbalances within your account.
Does Ellevest offer guaranteed stop loss?Ellevest regrettably, does not offer guaranteed stop loss. Ellevest provides a chance for its dealers to close their trades in their given price. Apart from that, Ellevest doesn't offer guaranteed stop loss.
Does Ellevest allow scalping?Yes, Ellevest do allow scalping. Many traders throughout the world choose Ellevest for their scalping services. They offer trading on Windows, Android, Mac OS, iOS which allow this.
Does Ellevest allow hedging?
Yes, Ellevest does allow hedging.
Can you trade energies with Ellevest?
No, unfortunately you cannot trade energy stock with Ellevest
Can you trade agricultural shares with Ellevest?
No, unfortunately you cannot trade agricultural stock with Ellevest
Can you trade cryptocurrency with Ellevest?
No, unfortunately you cannot trade cryptocurrency with Ellevest
Can you trade metals with Ellevest?
No, unfortunately you cannot trade metals with Ellevest
Can you trade UK Shares with Ellevest?
No, unfortunately you cannot trade UK shares with Ellevest
Can you trade US Shares with Ellevest?
No, unfortunately you cannot trade US shares with Ellevest
Can you trade Japanese Shares with Ellevest?
No, unfortunately you cannot trade Japanese shares with Ellevest
Can you trade German Shares with Ellevest?
No, unfortunately you cannot trade German shares with Ellevest
Does Ellevest accept bank transfers?
No, Ellevest does not accept bank transfers.
Does Ellevest accept credit cards?
No, Ellevest does not accept credit cards.
Does Ellevest accept PayPal?
No, Ellevest does not accept PayPal.
Does Ellevest accept Skrill?
No, Ellevest does not accept Skrill.
Does Ellevest accept Payoneer?
No, Ellevest does not accept Payoneer.
Does Ellevest accept Neteller?
No, Ellevest does not accept Neteller.
Does Ellevest offer Live Chat customer support?
No, Ellevest does not offer customer support through live chat.
Does Ellevest offer phone customer support?
No, Ellevest does not offer customer support over the telephone.
Does Ellevest offer email customer support?
No, Ellevest does not offer customer support through email.
What languages can Ellevest communicate in?
Ellevest has the ability to communicate and support customers who speak:
Does Ellevest have a wikipedia page?
No, Ellevest does not have an official wikipedia page.
Does Ellevest offer demo accounts?
Yes, Ellevest offers demo accounts so you can learn their systems before risking any real money.