REVIEWS

Definite Area Broker Overview

Definite Area is a forex, cryptocurrency, and contract for difference (CFD) broker. The firm is relatively new in the online trading space, having launched around March 2022. It offers its clients access to global financial markets. Like most forex brokers, Definite Area allows its clients to trade a wide variety of financial instruments across major financial markets. These include commodities, stocks, forex, indices, cannabis, ETFs, and crypto.

At the time of writing this Definite Area review, the broker was unregulated and did not provide basic company information (for example, HQ address and the registered company name).

Trading at Definite Area is done via the company’s web-based platform, which doesn’t require downloading or installation. However, it is not available for mobile devices.

While the primary goal of FX and CFD brokers is to give traders access to financial markets, not all of them offer high-quality services and trading experiences. Some provide seamless trading features and experience, while others are just mediocre. So, where does Definite Area forex broker stand? What factors should a trader consider when choosing one brokerage over another?

This Definite Area review will cover everything you need to know about the firm to decide if it's the right broker for you.

Definite Area Safety Review

It's always a good idea to choose a forex and a CFD broker that takes the safety of your money and personal information as seriously as you do. Traders consider several factors when determining how safe it is to trade with a particular online broker.

One of the first factors to consider is regulation and licensing. Every country has financial regulators that grant licenses to companies offering FX and CFD trading services to operate in their jurisdictions. For instance, the Financial Conduct Authority (FCA) regulates financial services providers in the United Kingdom, the Financial Sector Conduct Authority (FSCA) in South Africa, and the Australian Securities and Investments Commission (ASIC) in Australia.

Definite Area doesn’t provide license information on its website, implying that no regulatory body monitors its trading operations. Most brokers that have been in business for a while mention their licensing information on their websites, including the license number of the company and the financial authority that regulates them. Anyone can check with the regulatory authority to see if the license is valid and up to date.

Working with licensed brokers is advantageous because they adhere to the rules and regulations established by the financial body that regulates them. In turn, this means that the company is less likely to violate trading rules because someone is monitoring their compliance.

At the time of writing this review, the broker did not disclose company information like its registered company name and address. While there are excellent FX and CDF brokers who remain anonymous about their founders and staff, they do at least provide corporate names, addresses, and headquarters details. For Definite Area, the only defining contact information is a UK phone number +442035355844 provided under the 'Contact us' section of the broker's website.

However, Definite Area does a good job of maintaining segregated accounts for its clients, which means that the client’s funds are kept separate from company funds. The broker also uses SSL (Secure Socket Layer) technology to protect clients’ personal details from possible internet exploits.

Definite Area Fees

Both trading and non-trading fees that a broker charges affect a trader’s profits and the overall trading experience. That’s why brokers need to provide fee structures that clearly break down the costs of trading with them.

Every broker has its way of presenting such information, although most do not make fee structures easily accessible. Often, clients must first open a trading account and test trades to understand the trading costs, which appears to be the case with Definite Area.

Clients are charged a commission on withdrawals from the broker’s terms and conditions document, but the amount is not specified. There is no mention of deposit fees.

Definite Area Spread/Trading Fees Overview

Trading fees vary from one broker to another. Definite Area spread rates for most currencies are at par with the industry’s average. For instance, when writing this, the platform's spread for EUR/USD was floating around 0.1 pips.

Definite Area Swap Rates

Swap fees are the fees that traders are charged for leaving active orders open after the end of the trading session. According to the Definite Area’s terms and conditions, traders are charged an unspecified, fixed-rate swap fee.

Definite Area Deposits and Withdrawals

Definite Area deposits are subject to the processing times of the payment method provider, such as a bank. Clients can withdraw funds at any time from the broker. However, for security reasons, withdrawal requests take anywhere from one to seven banking days to process. If the withdrawal processing exceeds seven banking days, Definite Area notifies the client of the status through email or phone.

Deposit and Withdrawal Methods

A broker's payment methods affect clients' overall experience. Definite Area does a good job when it comes to the provision of payment methods with which clients can deposit or withdraw funds.

Here are the payment methods accepted by Definite Area:

• Prepaid cards/Credit/debit cards (Maestro, Visa, MasterCard): This option is usually quick and convenient for most people. One good reason for using this payment method is that transactions are disputable, and clients can sometimes get a refund if something goes wrong.
• Bank wire transfer: These transfers are also relatively quick in moving the funds from the client’s bank account to the broker’s bank account and vice versa.
• Cryptocurrency transfer: While cryptocurrency is an excellent payment method, clients should be aware that most crypto payments are not disputable if something goes wrong.

When making deposits and withdrawals, the name on the client's bank account or credit/debit card must match the name with which they registered with the broker.

Definite Area Minimum and Maximum Deposit and Withdrawal,

The minimum initial deposit for the broker is €200, which is fine compared to the industry’s average rates. While some brokers allow minimum deposits of as low as $10, the amount Definite Area accepts is at par with most brokers.

Definite Area Tradable Markets and Products

When it comes to which instrument or market to trade in, every trader has different preferences. So it's essential to understand what a broker offers before opening an account with them. While a client may be only interested in one instrument or market, having access to a diverse range of instruments from various financial markets comes in handy if the client wishes to diversify in the future.

Definite Area does a good job here. It provides access to multiple markets in one place. Clients can trade cryptocurrencies, currency pairs, indices, stocks, ETFs, cannabis, and commodities. So, if the broker meets your other criteria for a broker worth trading with, you can use a single account to trade in multiple markets.

Definite Area Leverage Offered

Definite Area provides different leverage levels depending on the account the trader has opened.

Leverage disclaimer: While higher leverage can translate to tremendous profit potential if the trade works in your favour, it also creates a significantly higher risk exposure. If the trade does not go as expected, you could lose more than your initial investment in a matter of minutes.

Available Definite Area Trading Platforms and Tools

A broker’s trading platform affects the trading experience of its clients. Most traders are accustomed to using the MT4 or MT5 trading platforms, which are available for both desktop and mobile devices. 

Other brokers, however, like Definite Area, create and offer their platforms to their customers. Definite Area clients trade using a web-based platform. There is no need to download or install anything. The platform is simple to use, making it appropriate for both new and experienced traders.

The dashboard of the Definite Area's platform has some amazing trading tools which can come in handy for traders, like trading charts, signals, and price alerts.

Definite Area may not be a good fit for those looking for a mobile trading app because the broker doesn't provide one.

Definite Area Account Types

Definite Area provides its clients with seven different types of trading accounts. When signing up, clients can opt for any kind of account except the VIP account, which is only available to select clients. The accounts vary in terms of the features provided, for instance, minimum deposit, number of insured trades, daily trading signals updates, and more.

Below is a full breakdown of the types of accounts at Definite Area and the features that come with each:

Standard Account

The standard account is the most basic one, and the key features are:

• Personal account assistant
• Standard leverage

Bronze Account

The available bronze account features include:

• Beginner level course
• Bonus
• One insured trade
• Bronze leverage
• A personal finance assistant

Silver Account

This account comes with the following features according to the brokers website:

• Silver leverage ratio
• Company financing
• Bonus
• A standard level course
• Four insured trades
• A personal finance assistant

Gold Account

Clients who sign up for the Gold account get the following features:

• Gold leverage ratio
• Company financing
• An advanced level course
• A personalized investment strategy which includes a financial plan
• Eight insured trades
• A senior financial assistant

Platinum

The Definite Area’s platinum account offers these features:

• Bonus
• Advanced company financing
• Investment strategy and financial plan
• A calendar of market events and trends updates
• Trading signals
• 16 insured trades
• Access to mutual investment programs 
• A financial assistant
• Premium contracts
• Company financing

PRO Account

According to the broker’s website, traders who purchase the PRO account have access to the following features:

• Premium bonus
• 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

VIP Account

This is the only Definite Area’s account that traders cannot just sign-up for. It is reserved for exclusive clients, but the broker doesn’t provide specifications for the criteria. Instead, clients who are interested in the account should contact the broker’s financial experts for more information.

Definite Area Account Registration

Are you eligible to create an account with Definite Area? The broker doesn’t have a lengthy list of requirements. Anyone from an eligible country who’s 18 years old and above can create an account on the broker's website. All clients have to do is

1. Visit the Definite Area's website.
2. Click the ‘Open Account’ button on the top right section of the website or click the 'Buy' button under the desired account type. 
3. Fill out the form, which requires basic details (first and last name, email address, password, country, and phone number). 

Definite Area Customer Support

Definite Area offers three ways for clients to get in touch with their customer support team:

• Phone: +442035355844, +3197010282402
• Chat: the feature is accessible only when logged in to the platform 
• Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

There's no mention of whether the customer support is available 24/7 or 24/5, but the industry standard is 24/5. 

Research Tools Offered by Definite Area

Most brokers engage their team of analysts to compile comprehensive research packages for their clients, including technical market analysis. Definite Area offers an economic calendar and the latest trends update only to clients who have specific types of accounts. There are no research materials or packages on the broker's website.

Educational Tools Offered by Definite Area

Definite Area provides some educational content for its clients. The educational resources on the website are minimal and best suited for traders who are at the beginning of their trade careers.

The education section on the broker's website has:

• A glossary: These are the definitions of common terms in the financial markets, such as volatility, market correction, leverage, margin call, CFD, etc.
• Analysis: This section explains how to conduct fundamental analysis (and the common indicators that affect the markets like politics) and the basics of technical analysis.

According to the broker's website, the company offers several training programs which are made for traders with varying levels of trading knowledge and experience. These training programs are available under different account types except the standard account. Clients must first register in the Definite Area system to access this training.

Definite Area Broker Review Final Thoughts

Definite Area is a relatively new player in the forex and CFD trading landscape. While there are some areas that the broker excels at, like providing access to a wide range of trading instruments and segregating clients' funds, there are also areas that the broker must address to improve customer trust (like transparency). 

For instance, Definite Area doesn’t provide the registered company name, headquarters address, and licensing details.

Definite Area FAQ

Is Definite Area a Legit Broker?

Definite Area is relatively new, so determining whether it is a legit broker or is not straightforward as it takes time to create trust with clients. However, certain aspects of the broker leave clients with suspicion; for instance, Definite Area is unlicensed, doesn’t provide company information, offers personal finance assistants, and provides clients with financial plans. 

Does an investment company or forex broker like Definite Area really need a license?

No, forex brokers can operate without licenses in some jurisdictions. However, countries like the United States do not allow companies to offer trading services to their citizens if a financial regulator in the country does not regulate the company. In most cases, regulations also help to distinguish between scammers and real companies because regulators conduct due diligence before giving out any license. 

Which government agency or regulator licenses your broker?

Financial regulators typically license brokers in the country where the company is registered or intends to offer services. Some notable financial regulators for various jurisdictions include

• The FCA (United Kingdom). 
• FSCA (South Africa).
• ASIC (Australia). 
• CFTC (United States).

What trading instruments will you use when you sign up with Definite Area?

Definite Area offers its clients the ability to trade forex, indices, ETFs, stocks, commodities and some cryptocurrencies.

What payment methods does Definite Area accept?

Definite Area clients can deposit and withdraw funds through the following payment methods:

• Credit/Debit/Prepaid card
• Bank wire transfer
• Crypto.

Does Definite Area offer a demo account?

No, Definite Area doesn’t provide a demo account.

How secure is Definite Area?

Definite Area uses full-data encryption to protect customer data and sensitive information. 

The company keeps customers’ funds in a separate account from the corporate funds to safeguard client funds in case anything affects the company’s finances.

What trading platform and tools does Definite Area Offer?

DefiniteArea has developed its own trading platform that is available only via browser. The platform is compatible with various browsers but is not available for Android or Apple operating systems. 

What are the registration requirements for Definite Area?

Registering to trade with Definite Area is quite straightforward. The broker doesn't have a list of requirements that clients have to meet. Instead, clients only need to be 18 years old and above and agree to the broker's terms and conditions. 

To create an account, clients must navigate to the broker's website and fill out the form under the ‘Open account’ section. The form comprises basic information, including first and last name, email address, country of residence, and phone number.

What Trading accounts does Definite Area provide?

Definite Area offers its clients seven types of accounts. Clients can register for any type of account except the VIP account, which is reserved for particular clients. These accounts (Standard, Bronze, Silver, Gold, Platinum, Pro and VIP) differ in terms of the features clients can access, for instance, maximum leverage ratio, number of insured trades, etc.

What are the risks of trading with unregulated brokers like Definite Area?

One of the risks of trading with an unregulated broker is that there’s no guarantee the broker will face legal scrutiny if things go wrong with the company.

How long do withdrawal requests take at Definite Area?

According to the broker’s terms and conditions, traders can send withdrawal requests at any time. But due to security checks, withdrawal requests can take up to seven banking days. In case of further delays, Definite Area notifies the client of the transaction status through email or telephone.

Can Definite Area close your account?

According to Definite Areas terms and conditions, traders must undergo identity verification by submitting documents like ID photos or driver's license. If a trader does not provide the required documents, Definite Area can decide to close that account either temporarily or permanently.

Does Definite Area accept all account applications?

No. Just like other forex brokers, Definite Area reserves the right to accept or reject account approval requests.

Are my funds Safe with Definite Area?

Unlicensed, unregulated brokers who are new in the space are usually risky to trade with unless the trader has conducted their due diligence and determined otherwise. It’s also important to proceed cautiously when a CFD brokerage firm provides investment plans and finance assistants.