Breakaway Spreads, leverage, minimum deposit Revealed

Breakaway Information

　　Breakaway is an online financial trading platform that provides 400+ instruments CFDs on stocks/indices/metal/commodities/currency pairs/cryptocurrency. It also provides 24/7 support in multiple languages and free tools such as trading calculator, and economic calendar. It also provides high leverage up to 1:1000 and three account types. The minimum deposit is $10

Pros and Cons

Is Breakaway Legit?

　　Breakaway is regulated by ASIC in Australia, with the license number 001311740.

What Can I Trade on Breakaway?

　　Traders will trade CFD stocks and ETF products on Breakaway.

Account Type

　　Breakaway offers real accounts and free demo accounts. Generally, demo accounts are more friendly to novices. Traders only need to enter their name, contact information, and password to register a real account for trading.

Breakaway Fees

　　Breakaway offers competitive spreads according to the account type.

　　Specifically, the Micro account initiates spreads from 1.5 pips, while the Standard account presents reduced spreads starting from 1.2 pips.

　　The ECN account goes further to offer as low as 0 pips. The Customize account, on the other hand, provides scalable spreads which start from a minimum of 0 pips.

Leverage

　　Breakaway leverage is as high as 1:1000. For traders, it has relatively high trading leverage and requires more risks.

Trading Platform

　　Breakaway allows traders to trade via the MT5 trading platform.

　　Traders can download different versions of MT5, including the desktop, iOS, and Android versions, to implement online trading.

Deposit & Withdrawal

　　The minimum initial deposit requirement at Breakaway is reportedly only $10. However, the broker has not explicitly mentioned the acceptable methods for deposit and withdrawal.

　　Nevertheless, based on the banks and electronic wallets displayed as partners on their official website, we can deduce that the deposit and withdrawal methods are probably associated with them. These partners include entities like Maybank, PermataBank, bKash, and others.

Customer Support Options

　　Breakaway provides two contact methods, phone, and email, and provides 24/7 customer support.

The Bottom Line

　　Breakaway provides free trading tools for traders, including demo accounts, to facilitate user trading. However, users need to be aware that the high-leverage products it provides carry relatively high risks.

FAQs

　　Is Breakaway legit?

　　Yes, Breakaway operates legally.

　　Is demo trading available at Breakaway?

　　Yes. It offers risk-free demo accounts.

　　Does CentFX offer MT4/5?

　　Yes. It offers MT5 for desktop, mobile and web.

　　What's the minimum deposit required by Breakaway?

　　$10.