What is Electrum?
Electrum is a forex and CFD broker based in Switzerland, listed with a foundation year of 2019. It offers leverage up to 1:2, spreads from 0.0 pips and a minimum deposit of $250. Clients trade on Electrum webtrader and on mobile.
Electrum is an online trading broker that trades on Forex, Commodities, Indices, Stocks, and Indices, and Cryptocurrencies. This broker is based on webtrading. Being a webtrader, this is easy for trading as it does not need any software installation or devices with high configuration.
Electrum
has three types of live trading accounts. All of these accounts have different levels of minimum deposit and different facilities. These three accounts are named Standard, Premium, and Premium+. All these three accounts are described below:-
- Standard Account:- This account starts with a $250 minimum deposit. This account is a zero commission account. The spread in this account ranges from 0.5 pips to 1.8 pips. The minimum trade size in this account is 0.01 lots and the maximum trade size is 100 lots.
- Premium Account:- The minimum first-time deposit requirement is $2500. The spread in this account starts from 0.2 pips and it is limited to 1.1 pips. The commission in this account is €2.5 per standard lot traded.
- Premium+ Account:- This account starts with $25000. The spread in this account starts from 0.0 pips and ranges to 0.7 pips. The commission in this account is €3.5 per standard lot traded.
All these accounts come with negative balance protection and stop-loss/take-profit feature.
Is Electrum safe and regulated?
Electrum is regulated by Electrum has no regulatory license. This is an offshore regulator. It sets capital and reporting rules, but its investor protection is lighter than tier-1 regulators such as the FCA (UK), CySEC (Cyprus) or ASIC (Australia), and there is usually no investor compensation scheme.
Safety checklist before you deposit
- Find the licence number on the broker's website and check it on the regulator's official register.
- Check that client funds are held in segregated bank accounts.
- Make a small first deposit and test a withdrawal before you add more.
- Confirm negative balance protection applies to your account type.
Electrum account types
The broker offers several account options so beginners and experienced traders can choose the right fit. Accounts open from a $250 minimum deposit.
| Account | Best for | Available |
|---|---|---|
| Mini account | Beginners trading small lot sizes | Yes |
| VIP account | High-volume traders wanting raw spreads | Yes |
| Islamic (swap-free) | Traders who need no overnight interest | No |
| Managed account | Investors who prefer a money manager | Yes |
Trading platform and conditions
Electrum provides Electrum webtrader, so you can trade from any browser without installing software. Mobile trading is supported as well.
- Scalping and hedging are permitted, which suits short-term and EA-style strategies.
- News trading is allowed during high-impact economic releases.
- Spreads from 0.0 pips are available on raw pricing, with a commission per lot.
- Leverage up to 1:2 gives large position sizes from a small deposit, which also raises the risk of fast losses.
Deposits and withdrawals
Electrum supports 6 funding methods, including Visa, MasterCard, Maestro, WireTransfer, e-wallet, Bank Transfer. Accounts can be held in 2 base currencies (USD, EUR), which helps you avoid conversion fees.
Electrum bonus: <p>This broker is not providing any welcome bonus</p>
How the promotion works
The current Electrum promotion is <p>This broker is not providing any welcome bonus</p>. Entry rules, dates and eligible countries are set by the broker. Read the full terms on the Electrum website before you trade for it.
Check the promotionLooking for free trading credit instead? Compare the latest forex no deposit bonus offers and forex deposit bonuses.
Electrum pros and cons
Pros
- Raw spreads from 0.0 pips
- Scalping and hedging allowed
- News trading allowed
- VIP, Mini and managed accounts
- 6 deposit methods
Cons
- Only offshore regulation
- No investor compensation scheme
- $250 minimum deposit is higher than some rivals
- Electrum webtrader only in our listing, no MT4/MT5 confirmed
- No Islamic account listed
How to open an Electrum account
- RegisterVisit the Electrum website and sign up with your name, email and phone number.
- Verify your identityUpload a passport or national ID and a recent proof of address (KYC).
- Choose an accountPick VIP, Mini, managed or a standard account, and your base currency.
- Fund the accountDeposit at least $250 with Visa, MasterCard, Maestro or another method.
- Start tradingLog in to Electrum webtrader or the mobile app and set your risk per trade.
Is Electrum a good broker? Our verdict
Electrum suits active traders who want raw spreads, freedom to scalp or trade the news, plus a wide choice of payment methods. The main trade-off is regulation: an offshore licence gives less protection than a tier-1 regulator. Start small, test a withdrawal, and only trade money you can afford to lose.