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Garnet Trade group includes 2 related companies.
Garnet Trade AU - located in Australia, regulated by the Australian Securities and Investments Commission (ASIC).
Garnet Trade MW - located in Mwali, regulated by the Mwali International Services Authority (MISA).
Unfortunately, AU company has been imposed with trading leverage limitations by ASIC since the end of March 2021.
At the same time, MW company is free from such restrictions.
Garnet Trade group accepts clients from all over the world, excluding some countries where restrictions apply.
Forex broker offers the following underlying assets for trading.
| 50+ Currency Pairs | Based on major and minor world currencies. |
| 10 Crypto Pairs | Based on Bitcoin, Bitcoin Cash, Ethereum, Solana, Ripple, Cardano, Litecoin, Stellar, Dogecoin, Avalanche. |
| 15 Indice CFDs | Based on baskets of different blue-chip stocks and US Dollar Index. |
| 4 Metal CFDs | Based on Gold, Silver, Platinum, Palladium. |
| 3 Energy CFDs | Based on Crude Oil (WTI, Brent) and Natural Gas. |
| 80+ Stock CFDs | Based on shares of US, EU and Asian companies. |
Garnet Trade is a forex and CFD broker that has been operating since 2010, offering a range of trading instruments and platforms to cater to retail traders from around the world. The broker is based in Sydney, Australia, and holds multiple regulatory licenses. This includes a license from the Australian Securities and Investments Commission (ASIC), one from the independent dispute resolution organization The Financial Commission (FinaCom), as well as a license from the Mwali International Services Authority (MISA). The broker is not regulated in the EU.
Garnet Trade provides access to a diverse range of trading instruments, including more than 50 currency pairs in the forex market. Traders can also access commodities such as gold, silver, and energies, as well as major global stock indices. The broker offers CFDs on shares from various international exchanges in the US, Europe and Asia, which allows traders to get leveraged exposure to price movements without actually owning the underlying stocks.
For trading platforms, Garnet Trade offers the MetaTrader 5 (MT5) platform, known for its advanced trading capabilities. The platform supports automated trading through so-called expert advisors, allowing trading systems developers to earn an income by selling access to their trading algorithms. The platform also provides VPS support, enabling automated trading even when the trader's own computer is turned off. MT5 is available on PC, web, and Apple and Android mobile devices.
Like most forex brokers we have reviewed, Garnet Trade offers a variety of account types tailored to meet the diverse needs of traders:
– The Beginner Account requires a minimum deposit of $100 and provides spreads starting from 0.9 pips, with a maximum leverage of 1:100.
– The Standard Account is designed for more experienced traders, with a minimum deposit of $1,500, offering spreads from 0.7 pips and leverage up to 1:300.
– The Prime Account, designed for active traders, requires a $5,000 minimum deposit, featuring spreads from 0.5 pips and leverage up to 1:300.
– The ECN Account caters to those seeking direct market access, requires a $10,000 minimum deposit, with spreads starting from 0.1 pips and leverage up to 1:500.
– The Zero Account also requires a $10,000 minimum deposit, and comes with very favorable spreads from 0.1 pips.
All account types can be denominated in either USD, EUR, GBP, or AUD, with a minimum lot size of 0.01 and no commission fees. Additionally, all strategies are allowed across these account types.
A notable thing about this broker is that the main method for account deposits and withdrawals is crypto, which is processed free of charge from the broker's side. At the time of writing, the accepted cryptocurrencies include Bitcoin (BTC), Ethereum (ETH) and the stablecoin Tether (USDT). In addition to crypto, regular bank wire transfers and credit cards are also accepted for deposits and withdrawals.
In terms of customer service, Garnet Trade unfortunately lags behind some of its competitors. The broker does not offer live chat with support, and has not published any phone numbers clients can use to call it directly. Judging from available information, the only way to reach Garnet Trade is currently through email.
Over the years, Garnet Trade has been involved in several sponsorships and partnerships. The broker has previously sponsored the Portuguese Braga Team between 2020 and 2022, as well as the HONDA LCR MotoGP team since 2022. Other sponsorships include the Galatasaray women's volleyball team in the 2022-2023 season. Garnet Trade has also received industry recognition, including awards such as "Best MT5 Broker" and "Most Valuable Broker" from World Finance in 2024.
Overall, Garnet Trade appears to be a solid forex and CFD broker with an offering that should suit most traders. We like that the broker has focused on the MT5 platform, which is already familiar for a large number of traders. It's also good to see that the broker is licensed and regulated in multiple jurisdictions, although we believe it could do more to improve its customer support experience.
