101investing Broker Review: All Your Questions Answered

Every financial market trader, whether beginner or expert, at one time or the other has to choose a brokerage platform. A number of these platforms exist, making it pertinent that a trader defines what tools or functionalities they are looking for in a preferred brokerage service.

In this article, we review the functionalities and accessible markets on 101investing, an EU-based CFDs broker. We also answer some of the questions you may have about the broker, and believe that this information will allow you to choose correctly whether or not to sign up on the platform.

Before we dive in however, let’s consider some of the basic factors that most traders look for when they sign up with a broker.

  • Security & Regulation

The security of funds that you deposit on a brokerage platform, and the operating company’s accountability when it comes to these funds are very crucial. The same applies to personal information that you submit in the form of KYC documents when creating an account.

To satisfy this criteria, many traders choose to use only regulated brokers. This is because of the rigors that brokers have to go through to secure approval, obliging them to commit adequate resources to protect customer funds and information.

  • Prompt Customer Service

When you encounter technical issues perhaps with deposits or withdrawals, the last thing you need is an unreliable customer service desk. 

Most traders agree that receiving prompt customer assistance is one factor that increases their confidence in the efficiency of a broker, and can at times make the difference between how much profits they achieve over a certain period.

  • Easy Deposit and Withdrawals

While issues with deposits and withdrawals are inevitable on some occasions, traders expect that at most times, there should be no difficulty with moving their money into and out of a brokerage platform. If a broker provides only one or two payment gateways, then these circumstances may prevail.

  • Access to Multiple Markets

Some traders like to invest in currencies, stocks, commodities, indices, metals, and even cryptocurrencies at the same time. For these persons, the ability to access all these markets on a single platform is price since it saves them the stress of managing multiple accounts on different trading platforms.

Having considered some of the basic factors that traders look out for while choosing a broker, let’s compare it to what is offered by 101investing.

101Investing Features

  • Diverse Markets

101investing gives you access to contract-for-differences (CFDs) on nearly every sector in the financial market. For instance, you can find the following:

  • Forex CFDs
  • Stocks CFDs
  • Index Trading CFDs
  • Metal Trading CFDs
  • Commodity CFDs
  • Cryptocurrency CFDS

Despite the type of trading account you sign up for, you can gain exposure to your favorite pairs on these markets, giving you the chance to diversify and also manage your exposure from a single platform.

  • Quick Deposits and Withdrawals

101investing supports many payment gateways to reduce any friction with depositing and withdrawing money from the platform. The gateways include Visa, Mastercard, Neteller, Skrill, Wirecard, SafeCharge, and more.

Therefore, you should encounter little to no difficulty on withdrawing profits or funding your trading account.

  • Professional Customer Service

The broker provides a LiveChat widget on its website to allow clients receive prompt support with any enquiries or issues that they encounter while using the platform. There is also a support email and telephone number for handling queries that require clear communication with the support team.

Other matters such as legal correspondence can still be mailed to the company’s physical office using the official complaint form available for download on the 101investing website.

  • A Regulated EU-based Broker

101investing satisfies your concerns about security and regulation. FXBFI Broker Financial Invest, Ltd, the company behind the brand is duly regulated by the Cyprus Securities and Exchange Commission (CySEC).

The implication of this form of regulation is that the company will be regularly audited and maintain a segregated account from customer funds. Thus, there is little to no chance of losing your funds with this broker. If such losses does happen or the company goes bankrupt, however, a customer compensation fund mandated by the CySEC means that clients will receive refunds.

Beyond the basic factors that we’ve considered so far, there are also other 101investing features that attract traders of all kinds to the platform. They include:

  • Beginner Guides & Demo Account

If you’re new to trading, then you need guidance to get started. Many people choose to solve this challenge by watching random YouTube videos, but end up more confused than they were at the start.

When you sign up on 101investing, you get instant access to educational materials that will give you a comprehensive knowledge of how trading works. These educational content include videos, webinars, e-books, coursese, tutorials and advanced materials like the economic calendar.

Additionally, you can use the broker’s demo account to master trading. The demo account comes with a virtual $100,000 balance and access to trade the market without putting any real money on the line.

Once you’re comfortable with the risks and rewards, you can fund a real trading account and begin your journey to becoming a professional trader.

  • Multi-Language Access

You can access the broker’s website in a number of languages other than English. Available languages at the time of writing this review includes Espanol, Portuguese, Svenska, Portuguese Italiano, and Deutsch. Also, when you sign up for a professional account with 101investing, you receive multilingual customer support.

Frequently Asked Questions About 101investing

Does This Broker Have a Mobile App?

Yes. The need for a channel to access the market with mobile devices has grown significantly in recent times. Traders want the ability to place or cancel trades from anywhere in the world, without necessarily logging on to a computer.

101investing provides a mobile app that synchronizes with your account on the broker. Therefore, you can simultaneously open or close your trading position across devices. You only need to sign in on the device of your choice. 101investing is available on PC MetaTrader4, WebTrader, and mobile.

Does 101Investing Offer a Sharia Account?

Yes. Traders who share the Islamic faith can trade with this broker by creating a Sharia account. Under this type of account, there are no interests or swap charges on overnight positions, and there are no hidden costs.

Note, though, that the removal of interest rates is the only main difference between your Sharia trading account and other account types offered by the broker. You can still access the same markets as other traders, and enter or exit leveraged positions.

Can I Send Deposit Via Cryptocurrencies?

No. While some new trading platforms allow users to deposit funds via cryptocurrencies, 101investing does not support this option, perhaps, because cryptocurrencies are still not widely used. 

The broker does allow trading of crypto-backed CFDs including Bitcoin and 50+ of the most popular cryptocurrencies, and even allows leveraged trading on some of these assets.

Do I Have to Do KYC to Use 101investing?

Yes. Similar to most regulated brokers, you need to submit KYC information to gain full access to 101investing. This information is essential so that you are protected against identity theft, money laundering, and other forms of financial fraud associated with online trading.

Some information you need to submit include:

  • A colored copy of a valid passport or means of identification.
  • A colored copy of your utility bill
  • Proof of deposit for wire transfers.
  • Colored copy of debit or credit card for credit or debit card deposits.

Compliance with GDPR and other regulatory requirements means you can trust that the broker will not leak your information to a third-party.

As a pro tip, we recommend that you ready all your KYC documents before starting the process. This way, the entire process will be seamless and you can get started with trading within the shortest possible time.

How Are Complaints Against the Broker Settled?

You can open a support ticket on the website or send a filed complaint form to the company’s physical address. Difficult issues are typically resolved within 5 days to 3 months. Also, If you are not satisfied with the Company’s final outcome, you are entitled to contact the Office of the Financial Ombudsman or the Cyprus Securities Exchange Commission to file a formal complaint.

Can I Open Leveraged Positions or Trade With Margin?

Yes. 101investing supports leveraged trading across its several account types, although the margin ratio depends on the type of account. Retail and Pro Silver Account holders can trade currencies with up to 1:30 leverage while other Professional Account holders are entitled to 1:400/1:500 leverage.

Does 101investing Accept All EU-based Clients?

No. Although being based in the European Union means that 101investing can service most EU countries except Belgium and France. Additionally, the broker does not provide its services to all non-EU countries such as Japan, Canada, Hong Kong, USA. We also do not recommend trying to skirt the ban via the use of a VPN, as it could lead to substantial losses if your identity is unmasked.

How Safe are My Funds With This Broker?

The broker uses a number of approaches to safeguard user funds in its custody. As required by regulators, the operating company FXBFI Broker Financial Invest LTD maintains corporate banking accounts that are different from client’ funds.

Further, an investor compensation fund is set up for unforeseen occurrences, allowing for refund to professional account holders, if the company goes bankrupt. Also, client transactions are protected using the latest strict firewalls and Secure Sockets Layer (SSL) software, highlighting that your funds and transactions are highly secured.

Can I Access The Support Desk Even on Weekends?

No. The professional customer service team at 101investing is only available on weekdays. Enquiries opened during the weekend will likely form part of a log that the desk rectifies at the start of a new week.

Does the Broker Charge Fees on Deposits and Withdrawals

No. 101investing does not collect any commission on deposits and withdrawals. However, there are inactivity fees if there is no trading activity, ie. open and/or close any trade for а consecutive period of 60 days.

I’m a Large Trader. Can I Set Up a Professional Account With this Broker?

Yes. The broker supports both retail and professional account holders.

101investing has a Pro Exclusive Account that comes with exclusive perks like a dedicated account manager, margins decrease by up to 70%, maximized leverage up to 1:500, negative balance protection, access to VIP education, and other upgraded conditions.

It is pertinent to note, however, that you need to meet three main criteria, namely:

  • Provide proof that your total portfolio exceeds 500,000 EUR.
  • Provide proof of transactions in significant size for the selected markets.
  • Provide proof that you’ve worked in the financial sector for at least one year, and possess expertise for the services under consideration.

Lastly, you will need to request a callback from an account manager to receive help in setting up the account.

What is Missing on 101Investing?

Despite being home to some of the latest technical tools and functionalities for riding the wave of the financial markets, a number of features could still improve 101investing. 

For instance, the broker could add support for more languages, or simplify its KYC process for an easier onboarding experience. Also, it could offer a 24/7 customer support desk since the crypto market never rests like other markets.

Conclusion

In this 101investing review, we discussed some of the basic and additional features that traders expect when signing up with a brokerage platform. We also measured how 101investing fares against these requirements, and also answered some questions you may have about the EU-based broker.

As we mentioned at the onset, pondering over this information will allow you to choose whether or not to check out the broker or possibly sign up for an account to trade CFDs. Remember that CFDs are highly risky financial instruments and you should only trade with money that you can afford to lose.

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