LERTHAI

Overview of ERTHAI

ERTHAI is a Hong Kong-based brokerage that has been operating for 5-10 years, offering trading services in the financial markets. One notable aspect is that ERTHAI is not regulated by any specific regulatory authority, which means it operates without oversight from a financial regulatory body.

The range of tradable assets at ERTHAI encompasses Forex, Contracts for Difference (CFDs) on stocks, indices, commodities, and cryptocurrencies. This diversity allows traders to access a variety of markets from a single trading account.

Is LERTHAI legit or a scam？

The Securities and Futures Commission of Hong Kong has revoked the regulatory license of the broker LERTHAI Securities (Hong Kong) Limited. The license type was related to dealing in futures contracts and was regulated by the Hong Kong regulatory authority. The license number associated with this regulatory approval was BHH382, and it was effective from July 8, 2016. However, there is no specified expiry date mentioned.

Unfortunately, this regulatory license has been revoked, indicating that the broker is no longer authorized to offer financial services under this regulatory jurisdiction.

Pros and Cons

Pros:

1. Wide Range of Assets: ERTHAI offers a diverse selection of trading instruments, including Forex, CFDs on stocks, indices, commodities, and cryptocurrencies. This variety allows traders to explore different markets and diversify their portfolios.

2. Competitive Spreads: The broker provides competitive spreads starting from 0 pips for certain account types. Tight spreads can reduce trading costs and benefit traders, especially those who engage in high-frequency or scalping strategies.

3. Flexible Account Options: ERTHAI offers multiple account types, allowing traders to choose the one that best suits their trading preferences and goals. This flexibility ensures that both beginners and experienced traders can find suitable options.

4. User-Friendly Platforms: ERTHAI supports popular trading platforms like MT4, MT5, and WebTrader, known for their user-friendly interfaces and advanced trading tools. These platforms enhance the trading experience and cater to traders of all levels.

5. 24/5 Customer Support: Traders can access customer support via live chat, email, and phone during the working hours of ERTHAI. This accessibility ensures that assistance is available when needed, addressing any inquiries or issues promptly.

Cons:

1. Lack of Regulatory Oversight: ERTHAI operates without regulatory oversight. This lack of regulation may raise concerns about the transparency and security of the platform, as regulatory authorities provide oversight and protection for traders.

2. Limited Educational Resources: ERTHAI's educational resources are limited. The absence of comprehensive materials, such as user guides, video tutorials, live webinars, and blogs, can hinder new users' ability to learn how to use the platform effectively and trade cryptocurrencies. This knowledge gap can lead to mistakes and potential losses, discouraging new traders from participating in the market.

3. Limited Market Analysis and Insights: ERTHAI's platform may lack in-depth market analysis and insights, making it challenging for traders to make informed decisions. In-depth market analysis and insights are valuable tools for understanding market trends and making successful trading strategies.

4. Deposit and Withdrawal Fees: ERTHAI may impose deposit and withdrawal fees on users. These fees can increase the overall cost of trading and impact a trader's profitability. It's essential for users to be aware of these fees when managing their accounts.

Market Instruments

ERTHAI offers a diverse range of trading assets that encompass different financial markets. These assets are:

1. Forex: ERTHAI provides access to the foreign exchange market, allowing traders to buy and sell currency pairs. This includes major, minor, and exotic currency pairs, providing opportunities for forex traders to speculate on currency price movements.

2. CFDs on Stocks: ERTHAI enables traders to engage in Contracts for Difference (CFDs) on various stocks. This means traders can speculate on the price movements of individual company shares without owning the underlying assets. It provides a flexible way to participate in the stock market.

3. Indices: The broker offers CFDs on various stock market indices. These allow traders to speculate on the overall performance of a group of stocks or the stock market of a specific region, providing exposure to broader market movements.

4. Commodities: ERTHAI provides trading opportunities in commodities, including both soft commodities like agricultural products and hard commodities like precious metals and energy resources. This allows traders to diversify their portfolios and speculate on commodity price changes.

5. Cryptocurrencies: ERTHAI also offers access to the cryptocurrency market, enabling traders to trade various digital currencies such as Bitcoin, Ethereum, and other popular cryptocurrencies. Cryptocurrency trading has gained popularity in recent years due to its potential for high volatility and significant price movements.

By offering this wide range of trading assets, ERTHAI caters to traders with diverse investment preferences, allowing them to trade in different markets and diversify their portfolios.

Account Types

ERTHAI offers three distinct account types to cater to the diverse needs and preferences of traders:

1. Standard Account:

1. Leverage: Up to 1:500, providing traders with the potential for significant exposure to the markets.

2. Spread: Starting from 0 pips, ensuring competitive and cost-effective pricing.

3. Commission: No commission charges on this account type, as trading costs are generally incorporated into the spreads.

4. Minimum Deposit: USD 100, making it accessible to a wide range of traders.

2. ECN Account:

1. Leverage: Up to 1:500, offering the same high leverage as the Standard Account.

2. Spread: Raw spreads starting from 0 pips, providing transparent pricing directly from the market.

3. Commission: Traders on the ECN account are subject to a commission of USD 3.5 per lot traded, which reflects the transparent and direct market access.

4. Minimum Deposit: USD 100, making it an accessible option for traders who prefer raw spreads.

3. VIP Account:

1. Leverage: Up to 1:500, maintaining the same high leverage as the other account types.

2. Spread: Raw spreads starting from 0 pips, ensuring competitive and transparent pricing.

3. Commission: VIP account holders enjoy a reduced commission of USD 2 per lot traded, which can lead to lower trading costs.

4. Minimum Deposit: A higher initial deposit of USD 10,000 is required, making this account type suitable for more experienced or high-capital traders.

ERTHAI's range of account types provides flexibility for traders with varying levels of experience and trading preferences. Whether traders are looking for a cost-effective Standard Account, a transparent ECN Account, or the benefits of a VIP Account, the broker offers choices to meet their specific needs.

How to Open an Account？

Opening an account with ERTHAI is a straightforward process. Here are six steps to guide you through the account opening procedure:

1. Visit the ERTHAI Website:

1. Go to the official ERTHAI website (make sure it's the official and secure website) to begin the account opening process.

2. Click on 'Open Account':

1. Look for a prominent 'Open Account' or 'Sign Up' button on the website. Click on it to initiate the registration process.

3. Fill in Personal Information:

1. You will be asked to provide personal information such as your name, date of birth, contact details, and residential address. Ensure that the information you provide is accurate and up to date.

4. Choose an Account Type:

1. ERTHAI offers different account types. Select the account type that suits your trading preferences, such as Standard, ECN, or VIP.

5. Submit Required Documents:

1. To comply with regulations, you may need to submit identity verification documents, such as a valid government-issued ID, proof of address, and any other documentation requested by ERTHAI.

6. Fund Your Account:

1. After your account is approved, you'll need to fund it. ERTHAI typically has a minimum deposit requirement. Choose from the available deposit methods and transfer the required funds to your trading account.

Once you've completed these steps and your account is funded, you should be ready to start trading with ERTHAI. Remember to review and understand the terms and conditions of your chosen account type and the broker's policies before you begin trading.

Leverage

ERTHAI offers a maximum leverage of 1:500. Leverage is a crucial tool in the world of forex trading and financial markets in general. It allows traders to control a more substantial position size with a relatively smaller amount of capital. In the case of ERTHAI, a maximum leverage of 1:500 means that for every $1 you have in your trading account, you can control a position worth up to $500.

While high leverage can amplify potential profits, it also increases the level of risk. Traders should exercise caution and use leverage wisely, as it can lead to significant losses if not managed carefully. It's essential for traders to have a clear understanding of leverage and risk management strategies before using high leverage in their trading activities. Additionally, it's important to note that leverage availability and limits may vary depending on the type of account and the trading instrument being used.

Spreads & Commissions

ERTHAI offers competitive spreads and transparent commission structures on their trading accounts. Here's a breakdown of the spreads and commissions for different account types:

1. Standard Account:

1. Spreads: Starting from 0 pips. This means that spreads can be as tight as zero during certain market conditions.

2. Commission: There is no commission for trading on the Standard account. Trading costs are typically built into the spreads, making it a commission-free account.

2. ECN Account:

1. Spreads: Raw spreads starting from 0 pips. Raw spreads represent the actual market prices without any markup by the broker, ensuring transparency and direct market access.

2. Commission: Traders on the ECN account are charged a commission of USD 3.5 per lot. This commission is a transparent fee associated with trading on this account.

3. VIP Account:

1. Spreads: Raw spreads starting from 0 pips. This account offers the tightest spreads available.

2. Commission: VIP account traders are subject to a commission of USD 2 per lot, which is lower compared to the ECN account.

The choice between these account types allows traders to select the spread and commission structure that best suits their trading style and preferences. While the Standard account offers competitive spreads with no commission, the ECN and VIP accounts provide raw spreads with commission structures. This flexibility enables traders to optimize their trading strategy and cost structure according to their preferences.

Trading Platform

ERTHAI offers three primary trading platforms to cater to the diverse needs of its traders: MT4 andMT5.

MetaTrader 4 (MT4):MT4 is a widely recognized and highly popular trading platform in the industry. It is renowned for its user-friendly interface and powerful tools. Here are some key features of MT4:

• User-Friendly: MT4's intuitive interface makes it suitable for both beginners and experienced traders. Its simplicity allows traders to quickly adapt and start trading.

• Advanced Charting: MT4 offers advanced charting tools with various timeframes and technical indicators. Traders can conduct in-depth technical analysis to inform their trading decisions.

• Expert Advisors (EAs): Traders can create or use EAs to automate trading strategies. This feature is particularly attractive to algorithmic and high-frequency traders.

• One-Click Trading: MT4 allows for one-click trading, enabling rapid order execution.

• Multi-Asset Support: It supports trading in Forex, CFDs, and other instruments.

MetaTrader 5 (MT5):MT5 is an upgraded version of MT4, offering additional features and capabilities:

• Expanded Timeframes: MT5 provides more timeframes for traders to analyze markets.

• Economic Calendar: It includes an economic calendar, enabling traders to track and respond to economic events.

• Depth of Market (DOM): MT5 offers a Depth of Market feature, providing insights into market liquidity.

• More Technical Indicators: MT5 comes with additional technical indicators for advanced analysis.

• Hedging Support: Unlike MT4, MT5 allows for both hedging and netting positions.

Deposit & Withdrawal

ERTHAI offers a range of payment methods to facilitate deposits and withdrawals, providing flexibility to its traders. The minimum deposit required to open an account with ERTHAI is USD 100, which is a relatively accessible threshold for traders of different experience levels.

When it comes to payment processing times, they can vary depending on the method chosen. Bank transfers and credit/debit card deposits typically take a few business days to process. On the other hand, cryptocurrency deposits may offer quicker transaction times. It's essential for traders to check with ERTHAI for specific processing times for their chosen payment method. While the processing times may differ, the broker aims to provide efficient and convenient deposit and withdrawal options for its clients, catering to their individual preferences and needs.

Customer Support

ERTHAI prioritizes providing responsive and accessible customer support to assist its traders. The broker offers 24/5 customer support, ensuring that assistance is available during the major part of the trading week. Traders can reach out to ERTHAI's support team through various communication channels, including live chat, email, and phone support. This multichannel approach allows traders to choose the method that suits them best, whether they prefer real-time chat interactions, written correspondence via email, or direct phone conversations. ERTHAI aims to maintain open lines of communication to address inquiries, resolve issues, and provide assistance promptly, enhancing the overall trading experience for its clients.

Educational Resources

ERTHAI's absence of comprehensive educational resources may present challenges for novice traders who are looking to familiarize themselves with the platform and delve into cryptocurrency trading. The deficiency becomes evident when compared to brokers offering a broader range of educational materials.

Notable omissions include a comprehensive user guide, video tutorials, live webinars, and informative blogs. This dearth of educational content can potentially hinder new users in acquiring the necessary knowledge and skills to navigate the platform effectively and engage in cryptocurrency trading. Such gaps may result in trading mistakes and potential financial losses, which could, unfortunately, deter newcomers from pursuing their trading aspirations. Consequently, ERTHAI could benefit from expanding its educational resources to better support traders in their journey.

Conclusion

In conclusion, ERTHAI presents a platform with distinct advantages and disadvantages. On the positive side, it offers a wide range of assets, competitive spreads, flexible account options, user-friendly trading platforms, and accessible customer support, which can cater to the needs of diverse traders.

However, the absence of regulatory oversight raises concerns about transparency and security, while the limited educational resources and market analysis can hinder the learning and decision-making process for traders. Additionally, potential deposit and withdrawal fees should be taken into account when considering this platform. Traders should carefully weigh these pros and cons to make informed choices that align with their specific trading goals and risk tolerance.

FAQs

Q1: What assets can I trade on ERTHAI？

A1: ERTHAI offers a variety of assets, including Forex, CFDs on stocks, indices, commodities, and cryptocurrencies.

Q2: How can I contact customer support at ERTHAI？

A2: You can reach ERTHAI's customer support through 24/5 live chat, email, or phone.

Q3: What is the minimum deposit requirement for opening an ERTHAI account？

A3: The minimum deposit to open an account with ERTHAI is USD 100.

Q4: Does ERTHAI provide educational resources for traders？

A4: ERTHAI currently lacks comprehensive educational resources, such as user guides, video tutorials, and webinars.

Q5: What are the available trading platforms on ERTHAI？

A5: ERTHAI offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, as well as WebTrader.

Q6: Is there a demo account option on ERTHAI？

A6: Yes, ERTHAI provides a demo account option to help traders practice and familiarize themselves with the platform before trading with real funds.