Peaksight Information
Peaksight is a regulated brokerage company registered in Cyprus. This firm focuses on CFD trading with its Webtrader platform. Peaksight has different account types for both retail and professional investors. However, the requirements of each kind are absent, and no managed portfolios are available with this brokerage. Furthermore, the lack of a mobile platform and the absence of detailed information about trading fees could drive away some investors.
Pros and Cons
Is Peaksight Legit?
Peaksight is authorized and regulated by the Cyprus Securities and Exchange Commission (CYSEC), with registration number 440/23.
What Can I Trade on Peaksight?
Investing is kind of like a buffet--there are lots of things to choose from. Spreading your money across different investments is a good thing if it helps manage risk. The more diverse your portfolio is, the better. Peaksight provides 160+ CFD trading on forex, commodities, stocks, indices, and cryptocurrencies.
10+ index CFDs, 40+ currency pairs, and 15+ commodity CFDs are available with this brokerage. Only Bitcoin and Ethereum can be traded on this platform. Compared to other brokerages, Peaksight doesn't offer as many instruments to invest.
Account Types
It's not unusual for online brokerages to offer different account tiers. The upside of tiered accounts is that you might pay less in fees the more you invest. And fewer fees are good because you keep more of your investment returns.
Peaksight provides four tiers for both retail and professional investors. If you're interested in investing here, you can open Classic, Silver, Gold, and VIP accounts. However, the website does not give the conditions required for each tier.
It's unusual that all the account specs for each tier are exactly the same. Support and all assets are accessible for all tiers, and likewise the leverage option and minimum/maximum volume per trade. The difference between retail and professional accounts is that professional accounts have a maximum leverage of 1:400 and stop out of 20%, while retail accounts have a maximum leverage of 1:30 and stop out of 50%.
Trading Platform
Peaksight boasts of its trading platform, namely, Webtrader. The platform has an easy-to-navigate interface and it provides 160+ CFDs on popular assets. It also provides stop-loss and take-profit tools, new limit orders, and free educational materials.
However, there is no mobile platform available with this broker. That could be a barrier for investors who prefer using phones. Furthermore, other popular platforms like MT5 and MT4 are not also unavailable.
Customer Support Options
Peaksight's customer support is available Monday through Friday from 09:00 to 18:00 MGT. You can contact them by email (Info@peaksightltd.com) or hit a button on the online message box. There is no customer support phone number listed on the website and live chat isn't available. Some clients may find that a bit inconvenient.
The Bottom Line
Peaksight could work better for some investors than others, namely, those who lean toward self-directed trading, especially those who focus on CFD trades. On the other hand, you might want to look elsewhere if you want a wider range of investment options or if you're interested in managed portfolios. Furthermore, the lack of transparency on trading fees and short of a mobile platform are huge barriers for investors.
FAQs
Is Peaksight a regulated brokerage?
Yes, Peaksight is authorized and regulated by the Cyprus Securities and Exchange Commission (CYSEC), with registration number 440/23.
Is Peaksight good for beginners?
Peaksight could be an option for beginning investors since it has various account types and user-friendly platforms. However, no mobile app available could be a barrier for beginners.
Does Peaksight offer leveraged trading?Yes, Peaksight provides leverage options, which are up to 1:30 for retail investors and 1:400 for professionals.
Risk Warning
Online trading involves considerable risk, so it may not be suitable for everyone.
