Shift-Holdings Review 2020. New Forex Broker Shift-Holdings Scam?
GENERAL INFORMATION ⩤
Shift-Holdings may be a rising star on the forex market. New brokers appear every day on the market; most of them cannot survive their first six months. What is the reason? This is not as simple. Some of the new brokers face the risk level they undervalued before entering the forex market. Another group of unlucky brokers face time and money management issues – at last, forex brokerage is a business, and many new companies cannot survive.
Unfortunately, some new brokers are just fake companies who enter the forex market with criminal plans. So, every new broker is under our attention: we monitor and investigate company activities to evaluate it and forecast its future. Sometimes we even warn our readers to step away from some companies until they provide some proofs for their legibility. We hope this Shift-Holdings review will be helpful for the traders and other forex market players.
Shift-Holdings is at the end of its first year on the market. The company is registered in European Economic Area. Many businesses on the financial market chose the offshore registration because of the tax issue, but Shift-Holdings stays for safety of customers. Let us investigate Shift-Holdings as a forex broker and focus on its strong sides first.
⪧ GREAT FOR BEGINNERS ⪦
Shift-Holdings.com is an excellent point to start foe the new trader. There are several reasons for this. First, Shift-Holdings offers a superb service for new traders. Among the super beneficial propositions we’d mention the demo account and the vast knowledge database. Using the library of learning materials every novice can improve the trading skills without making many mistakes and learning from your own experience.
The valuable section is a Platform. It includes some manuals and explanations to them. We find it useful: for example, many traders use Metatrader as a trading tool, but a few of them can explain what it is and how it works.
We’d advice to pay attention to the Guide section on their site. This section holds the only commonly asked questions and answers. However, the detailed explanation after every answer makes this section a real tutorial for the newcomers. This section works as a reminder for both new traders and for experienced forex market player. Shift-Holdings broker declares that those who read through those two sections is a capable buyer or seller already.
⪧ NO EXTRA FEES ⪦
Many other forex brokers prefer to increase their profit by charging additional costs on deposits, withdrawals, or in the worst cases, both. Those extra costs do not appear to be an enormous deal, as they hover around 2% or less. However, as low it could seem, that amount is sort of important when planning around profit because, in the long-term perspective, the absolute amount charged for the significant fees can be unpleasantly big. Besides, it looks somewhat offensive for the loyal traders: it seems the company hides the extra fees from them. Luckily, there are not any fees to stress about with Shift-Holdings.com.
Returning to the extra fees, it becomes much harder to pay a part of your profit whenever you deposit or withdraw over an extended period. That becomes even more noticeable once you get into higher sums of cash. The clients of Shift-Holdings do not face such a problem: all they pay is the reasonable spread when they make the transaction within a system.
⪧ EXCELLENT DESIGN ⪦
The website is a major contact point for all the clients and visitors for most of the internet businesses. That is why the businesses are very careful about their website because it is the main gate for the upcoming requests. The broker Shift-Holdings features a sleek, modern-looking website, which is sort of pleasing to seem. Unfortunately, many brokers are overloading their sites with ads or needless pop-up windows that attract the attention and do not help to concentrate on the purpose. That is why we praise the minimalistic design and think this is the benefit. You can easily find what you want without loosing time and internet traffic for the needless ads.
Appearance may be a matter of taste, but the functionality remains a matter of profitability. Probably, you do not like the minimalistic approach and you probably do not like the Shift-Holdings website, but you can hardly deny it works perfectly. This site is that everyone can use to clarify any question and find any information. Besides, we did not notice any issue like the page not found, broken link, or beaten file. Everything works as is should work. Let us understand that people do not invest in such impressive quality assurance if they do not plan to stay on the market for a long time.
⩥ FUNDS TRADING AND SECURITY ⩤
It’s a good thing that there’re enough information about the regulator on the site of Shift-Holdings. All documents and licenses we checked for this Shift-Holdings.com review confirms that the broker has authorization to work on the market. However, leaving aside the regulation issue, we must recognize that the young brokers have a wide field of mistakes noticed by traders. Our Shift-Holdings.com review values the info left for users on a company website and advises newcomers to study all the documentation carefully.
We are sure they will fix any possible details within the nearest future, but even before they do this, we'd say Shift-Holdings.com is most probably a secure company. As we noticed, they have the perfectly functional site, no “long tail” of negative reviews on the Internet, and the excellent support service. We will explain it below. In sum, all these features are the proofs that Shift-Holdings forex broker has a solid professional background and will not fail because of the minor markets fluctuations.
⩥ TRADING ACCOUNTS AT Shift-Holdings ⩤
As a forex broker, Shift-Holdings sets four types of accounts named by the precious metals. The weakest account is Bronze, and the trader can open Bronze account with $250, which makes this option very attractive for the new investors. Moving upwards, we see Silver and Golden account, and the kind of luxury – Platinum account. However, for Platinum account you should invest $50,000, which is too much for many traders. You can get the above-expectation service with the any type of account.
What is your opinion about the demo account? Shift-Holdings broker offers the demo accounts for the new traders. However, the popular opinion says the demo account is not so good for a young trader. Learning the trading technologies with demo account, the young trader is too relaxed. The trader loses the ability to evaluate the risk correctly. Thus, Shift-Holdings broker offers the demo account but the time is limited. We consider this to be an advantage in Shift-Holdings broker reviews.
⩥ TRADING CONDITIONS REVIEWS ⩤
Shift-Holdings provides balanced services but nothing excellent. You will probably find the same conditions in many other forex brokerages. Their leverage, for instance, is up to 1:400 for different account types. That is an excellent number if you would like some assistance, but don't want to spend too much money. Their spreads are also similar between most account types, with Platinum standing out (but the Platinum account requires the deposit of more than $50,000).
We started discussing the types of accounts and what they get in the previous paragraphs. Of course, the broker wants to attract more clients and decrease the entry barrier, setting the lowest minimal deposit on the Bronze account. However, the client can progress through account types, and this option seems more sort of a luxury than a necessity. We appreciate it as a marketing move from Shift-Holdings.com: however, some traders obviously want to feel the belonging to the privileged group. After all, we all got to start from somewhere, and if the starting point is a starting point of a large investments, investing $50000 looks as a promising option.
Anyway, the best trading conditions cannot attract the client without an honest reputation. The number of fake brokers and scam companies on the market is sadly large. Luckily, the Shift-Holdings review proves that it's definitely a broker worth trusting.
⩥ TRADING PLATFORM ⩤
Shift-Holdings broker stepped away from the new fashionable platforms that are new on the market and try to expand their share. They turned to reliable and proven Metatrader4 instead. We support their decision because we know all the benefits of Metatrader4. The platform is quick, works on older devices, and is comfortable and user-friendly to adapt to and operate.
However, don't let the convenience of access fool you into thinking it's a beginner's toy. Metatrader4 is a multifunctional full-scale trader tool. In-built functions help you conduct marketing research on a high level, effective and information even for the experienced traders. It is available for almost any platform and gadget, and different instances of Metatrader4 can be easily synchronized. In this way, a trader can work from any place and so not miss the important moment during the business day.
Modern traders love to work remotely – do not stay at home but travel and trade at the same time. They can get the mobile version of Metatrader4 from Google Play, Apple App, or Microsoft online stores. It is an enormous plus for Metatrder4, together with the compatibility with the old gadgets. We consider this information as an important part of Shift-Holdings forex broker review.
⩥ CUSTOMER SERVICE at Shift-Holdings ⩤
The next step of our Shift-Holdings broker review is a test of the helpdesk. Every forex trader knows that the timely response from the support at the peak moment costs a lot. Our colleague contacted the support team and pretended to be a new customer. The support team at Shift-Holdings responds quickly and quite pleasantly.
On our opinion, the technical support for Shift-Holdings broker works well. You can contact them by email or by phone call. They provide their services on 3 languages and you can be provided the assistant who speaks your language. The support representatives can solve most of the technical issues though they prefer not to answer the questions about trading strategy. Unfortunately, they do not have a live chat on their site that we revealed after Shift-Holdings.com review. In general,, we are satisfied with their helpdesk work.
⩥ IS Shift-Holdings SCAM? ⩤
The main aim of our Shift-Holdings broker review is to clarify if this broker is safe for investors, if it is reliable or is fake company. Well, our conclusion is Shift-Holdings is not a scam. Of course, there are a couple of issues with Shift-Holdings.com, which may deter you. However, they are a young company, and we hope they will fix is soon. They will find and declare the official regulator, and they will add MT5 to the list of their trading platforms.
If we evaluate the balance of positive and negative sides, it benefits Shift-Holdings broker. They provide above-expectations service, user-friendly trading platform, and create the friendly environment for the beginners. The reputation of Shift-Holdings forex broker is good, the company is not related to major scandals or issues. Thus, we wish them luck and recommend you check this company by yourself. Probably, Shift-Holdings will be your reliable partner for many years.