Pros and Cons of Trading With Definite Area
Definite Area Overview
Definite Area, founded in March 2022, is a multi-asset and global trading firm. The brokerage firm is relatively new in the market and doesn't provide basic company information like where it is based and licensing. Despite this, Definite Area has impressive product offerings across forex, shares, commodities, indices, ETFs and cryptocurrencies.
Definite Area’s trading platform is accessible only via web browsers, so there is no need for downloads. However, it can be disappointing for those who prefer to use a functional mobile application in addition to a web-based platform.
The trading platform is integrated with key features that can benefit traders, like charts, market news, and daily trading signals—but the exact features a trader can access depend on the type of account they open.
The broker also doesn't allow third-party tools, like bots which generally are used by advanced traders to enhance their trading experience.
One thing worth noting is that the MT4 trading platform, which is globally renowned as part of most CFD brokers' platforms, is not available in a Definite Area.
Ready to start trading with Definite Area? This guide will cover all the information to help you understand whether Definite Area is the right broker for you and later show you the steps you need to take to start trading with the broker.
Definite Area Safety Review:
Before investing your time and money in a CFD and forex broker, think about how secure it is to trade with them. But what factors influence the safety of a broker? There are several factors to consider, for example, history and reputation, licensing, client funds segregation, data protection policies, broker transparency, and more.
Let's start with licensing. Definite Area is not licensed or regulated by any regulatory body. This means that clients have no guarantee of the broker facing legal consequences in case it violates trading rules and regulations. The great thing with some regulations is that clients may be entitled to some financial compensation if things go wrong with a licensed broker. Keep in mind, however, that regulation does not mean that every broker will not try to do something shady or that the risks associated with CFD trading will be eliminated.
When it comes to the safety of clients' funds, Definite Area takes some good precautions. The broker safeguards its clients' funds by keeping them separate from the corporate funds. That way the client funds are safe in the event that something bad happens to the company, such as insolvency.
Regarding history and reputation, the broker is relatively new, having launched in 2022. It often takes time for most online trading companies to build a strong reputation and establish themselves as top broker. That said, though; the broker is not very transparent about various issues like HQ address, company background, and fee structures.
On the brighter side, Definite Area utilizes SSL technology to safeguard clients’ sensitive information.
Risk disclaimer: Trading margin products increases your potential gains and losses if the market turns against you. Because of the leverage involved, CFDs and forex trading risk losing more money than the initial capital.
Definite Area Tradable Markets and Products
What financial products and markets can traders access with Definite Area?
The broker offers its clients access to different financial products across the major financial markets, for instance:
The extensive offerings are essential for traders who wish to diversify their portfolios either in the beginning or later in their trading journey.
Available Definite Area Trading Platforms and Tools
Definite Area built its own web-based trading platform. Since the broker is fairly new, it's hard to tell if it will provide any updates to its platform over the industry-standard MT4, which is usually why some brokers opt to build their trading platforms.
Because the trading platform is web-based, traders can use any web browser to access it, including Chrome, Safari, Internet Explorer, and Firefox, without having to download anything. This is great news for traders who prefer web-based platforms to mobile apps and desktop-based platforms. However, the broker could provide more options as most brokers offer all three platforms: mobile, desktop, and web-based.
The platform includes helpful trading tools such as daily trading signals, market updates, charting, and technical indicators. However, remember that the features a trader has access to are determined by the account they purchase.
On the other hand, the key trading features are available to all accounts (stop loss, take profits, create and manage trade orders).
Definite Area Fees and Commissions
Fees and commissions affect the bottom line cost; hence brokers need to provide clear fee structures and avoid hidden costs. While that's the expectation, most brokers across the industry fail here, which is also the case with Definite Area. The firm does not provide clear fee disclosures with price quotes. On the terms and conditions, the broker discloses that clients can incur these non-trading costs:
However, the exact amount is not disclosed. This is not to say that Definite Area is intentionally misleading its clients but that the complexity of accessing information like fees which is fairly distributed or associated with many brokers, is quite strange and can lead to confusion.
Definite Area Spread Overview
Spread affects profits directly. Definite Area offers a low spread value of about € 0.1 pip for major currency pairs. Here’s a preview of the spread available at Definite Area when writing this guide:
Definite Area Swap Rates
Traders are charged swap fees for trades that remain active after the closure of a trading session. The broker states that the swap rates are at a fixed rate, but the precise amount is not disclosed.
Definite Area Deposit and Withdrawals
Deposits and withdrawals are usually sensitive issues when it comes to brokers. It’s one thing to deposit money, and it’s another to withdraw successfully when you make profits or wish to. Brokers that provide seamless deposits and withdrawals consistently over a long period of time earn the trust of their clients and hence grow a positive reputation.
While Definite Area doesn’t have a long history in the online trading landscape, the broker allows withdrawals at any time. The minimum or maximum withdrawal limits are not specified. But withdrawal requests take a maximum of seven days unless there is an issue, for instance, the security of a trader's account.
Definite Area Deposit and Withdrawal Methods
Below are the payment methods traders can use to deposit or withdraw funds at Definite Area:
Bank wire transfer
Credit cards and prepaid cards (Visa, Mastercard, Maestro)
Definite Area Minimum and Maximum Withdrawals and Deposits
The minimum deposit for Definite Area is € 200. While it isn't the most competitive rate, it is close to what most brokers require.
How To Register at Definite Area
The broker signup process is simple and can be completed in a matter of minutes from the broker's homepage. Follow these steps to create an account:
Go to the Definite Area homepage.
Under account types, select the account you wish to create or click the ‘Open Account’ button at the top section of the website.
Enter the details on the registration form that pops up.
Tick the checkboxes for age and terms and conditions, then hit the ‘Sign up’ button.
Use your email address and password created in the previous step to login into the platform.
How To Verify Your Account in Definite Area
Definite Area requires its clients to submit documents proving their identity and residency. Most brokers require such documentation to ensure that legitimate account holders carry out all activities in traders' accounts and to prevent fraud.
Below are the documents required to verify a Definite Area trading account:
Proof of address document with the trader's name on it, for instance, bank statement, utility bill, or residence certificate.
Proof of identity document, for instance, passport, photo ID, or driver's license.
Log in to the platform and click on the profile icon to verify an account. Under your profile, click the 'private office' button, then go to the 'verification center' on the top left of the pop-up window.
After completing the full verification, Definite Area staff will automatically review your documents and update your account status.
Definite Area Account Types
Forex and CFD brokers typically offer different types of accounts to their clients based on client profiles, for instance, novice traders and professionals with a lot of trading experience. The accounts are important because they limit or expand the access to features that impact a trader’s experience. For instance, professional traders usually get unlimited leverage, while novice traders have lower-capped leverage.
For Definite Area, traders have access to seven types of accounts with varying features. While the features of the advanced accounts may be great, it’s important to proceed with caution, maybe start with the standard account. This is because most of the features offered by the broker are not standard across the competitive and reputable brokers. These features include an investment plan package and a personal financial assistant.
Here are the detailed account features:
The standard account is the most basic one, and the key features are:
Personal account assistant
The available bronze account features include:
Beginner level course
One insured trade
A personal finance assistant
This account comes with the following features according to the broker's website:
Silver leverage ratio
A standard level course
Four insured trades
A personal finance assistant
Clients who sign up for the Gold account get the following features:
Gold leverage ratio
An advanced level course
A personalized investment strategy which includes a financial plan
Eight insured trades
A senior financial assistant
The Definite Area’s platinum account offers these features:
Advanced company financing
Investment strategy and financial plan
A calendar of market events and trends updates
16 insured trades
Access to mutual investment programs
A financial assistant
According to the broker’s website, traders who purchase the PRO account have access to the following features:
Premium company financing
Daily trading signals
Pro level leverage
Personal order notifications
A premium investment strategy and financial plan
Updates on market events and trends
According to the broker's website, clients need to get in touch with the broker's financial experts to obtain details about this specific account. It's meant for a particular type of trader, but Definite Area does not specify the criteria.
Definite Area Customer Support
Clients who are signed into the platform can contact customer support by launching the online chat embedded within the trading platform. Below are the other ways to contact Definite Area’s customer support:
Phone: +442035355844, +3197010282402
Trading With Definite Area Final Thoughts
It usually takes time for new forex and CFD brokers to build trust with their clients. However, some scam brokers appear and disappear instantly, which is why most traders prefer to use well-established brokers.
Definite Area provides its clients access to diverse asset classes at relatively low spreads. While the broker excels in such areas, it still has issues to address for traders to find them trustworthy. These issues include a failure to disclose company information such as the headquarters address and the registered company name.
Definite Area FAQ
Is Definite Area a good broker?
For new brokers like Definite Area, determining whether they are a good broker or not is usually not a straightforward thing. However, looking at their offerings and types of accounts, the broker has a long way to go in establishing trust with traders.
Is Definite Area regulated?
No, Definite Area is not regulated by any financial authority in any country. Regulations give clients some hope because financial services providers usually undergo certain verifications to get a license. Also, in the case that a broker goes out of business or engages in malpractices, clients are assured the broker will face legal action.
Is Definite Area regulated in South Africa?
No, Definite Area is not regulated by government authorities in any country worldwide, including South Africa.
Does Definite Area offer NASDAQ?
Yes, Definite Area offers NASDAQ.
Is Definite Area a trustworthy broker?
It usually takes time and necessary efforts, like acquiring a license for new online trading companies to build trust with their clients. This is understandable given the number of scam brokers who appear and then vanish with their clients' money. For Definite Area, traders would feel more trust towards the broker if it discloses its HQ address and acquires licensing.
What is Definite Area all about?
Definite Area is a forex and CFD brokerage firm that offers its clients access to asset classes across major financial markets, for instance, forex, indices, individual stocks, and crypto.
How does Definite Area work?
Definite Area is a forex broker that works by providing a platform for traders to execute trades and also access various financial instruments. The company also claims to offer investment plans for clients who purchase accounts with that feature.
What is the minimum deposit for Definite Area?
The minimum deposit for Definite Area is €200. For the transactions to be approved, the payment method must be managed under the same name as the Definite Area account holder.
What types of accounts are available on Definite Area?
Definite Area provides seven types of accounts for its clients. Traders can sign up with any of those accounts except the VIP type of account. What differentiates the accounts is the features that traders can access with each, such as leverage cap, number of insured trades, and level of financial education offered.
What type of broker is Definite Area?
Definite Area is an unregulated forex and CFD broker.
Does Definite Area accept PayPal?
No, Definite Area does not accept deposits or withdrawals through PayPal. The accepted payment methods are bank wire transfer, debit and credit cards, and cryptocurrency transfer.
How long does it take to withdraw money from Definite Area?
According to the website, clients can withdraw money at any time, which can take a maximum of seven days to process. In case of further delays, the broker will inform the client.
Does Definite Area offer bonuses?
Yes, Definite Area provides bonuses to clients who register using certain types of accounts, such as the bronze account.
How long does Definite Area deposit take?
Deposit processing time depends on the client's payment method to transfer funds. For instance, bank transfers and credit cards are usually very swift in just a few minutes.
What if my verification documents do not meet the requirements listed on the Definite Area platform?
You should contact the customer support team for guidance if your verification documents do not meet the criteria listed on the broker's platform.
How to check if I am fully verified on Definite Area?
The broker will update your account status automatically.
What happens if I don't verify my profile?
Definite Area requires clients to verify their profiles by submitting verification documents, like proof of residence. Definite Area can terminate the trader's account temporarily or permanently if the trader does not verify the account.
Are my payments safe with Definite Area?
Definite Area ensures the security of clients' funds by segregating the customers' funds from those of the company. The fact that the clients' funds are kept in a different or separate account from the company's funds protects the clients in case of any financial events that may affect the company's finances.
Can I trade with definite brokers in the United States?
Like many unregulated forex and CFD brokers, the Definite Area doesn't accept us, traders. The United States has strict requirements for providing trading services to its citizens. A regulatory body must regulate a broker in the United States for it to offer services to U.S. residents.
Does Definite Area offer MT4 or MT5 trading interface?
The market standard MT4 and MT5 trading platforms are unavailable on the Definite Area platform. Instead, the broker uses its own developed web-based trading platform.
Who is Definite Area best suited for?
Definite Area is best suited for traders who are looking for a broad range of financial instruments.