For several years now I’ve known about Peter Schiff’s Euro Pacific Bank. In short it’s a Gold and Silver backed bank in the Caribbean that offers a discount brokerage platform through its White-label partnership with Saxo Bank. Mr. Schiff has long been featured here on StockRants and became famous for his accurate predictions of the 2008 Housing and Financial Crisis.
I recently downloaded the free 30-day trial of EuroPac’s brokerage platform, Global Trade Station, and came away very impressed.
I was able to quickly login to the online web-trader and was given access to multiple international equities, FOREX, CFDs and futures markets. The mobile-trader was clean, easy to use and looked very sharp on my iPad and smartphone.
The post-2008 investing landscape is much different than before, and I appreciate the freedom to globally diversify my portfolio. This is a big draw for me. One feature that stands out is the ability to open sub-accounts in multiple foreign currencies. This allows you to buy global stocks and collect dividends in the native currencies without having to incur foreign exchange fees.
The platform was very customizable and fit my trading workflow and habits nicely. I was able to display multiple charts on the same page, making it very easy to keep all of my favourite stocks up-to-date and viewable. All the basic technical analysis tools are available. The charting software was clean and provided a time scale of 1-minute intraday to monthly chart data. The drag-n-drop functionality made organizing the dashboard a breeze and I never felt like I was being restricted when placing modules.
One feature that really caught my attention is the “Trade Maker”. Professional traders from around the world offer trade setups including entries, exits and stops. These tips include FOREX, CFDs and occasionally standard equities. I was pleased that this feature is provided at no additional cost, and found myself using it a lot.
The trading commissions are reasonable (especially for an International platform) and can be found at http://europacbank.com/our-products/brokerage/trading-conditions. They do not offer options on equities, but do offer the very similar CFDs.
For more experienced traders, margin accounts are available on futures, CFDs, FOREX and more allowing you to unleash trades on leverage up to 100:1. Equities are not available on margin which means that there is no chance of your shares being rehypothecated (i.e. what happened with MF Global).
Overall I came away with a very good impression of Global Trade Station. The charting software is very easy to use and the order entry is straight forward and very fast. The ability to use the web-based and/or mobile-trader was convenient and the tools available (Stock Screener, Trade Maker, easy-to-use charting tools, customizable news feed, etc) helped me explore ways to continually improve my trading habits.
The Quick Start Guide and Videos helped me to get up to speed and shortened the initial learning curve which freed up more time to concentrate on my trading instead of learning new software. With its intuitive interface and feature rich design, Global Trade Station is suitable for both professional and novice traders.
In today’s markets, you want to invest with someone that you can trust. Peter Schiff has a global reputation of honesty and the economic understanding to predict financial rumblings. I recommend that you check out Global Trade Station and Euro Pacific Bank today!
- $2500 minimum deposit
- No monthly/yearly fees maintenance fees
- No foreign stock holding fees
- Excellent charting tools
- Easy to use interface
- Access to global markets
- Includes free offshore bank account with a secure and regulated Gold-backed bank
- Options on equities not (yet) available
- Not available for US citizens or residents
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