What Is Definite Area?

Founded in March 2022, Definite Area is a newcomer to the highly competitive online brokerage landscape. The broker gives its clients access to various markets, for instance, commodities, indices, shares, forex, cannabis, and cryptocurrencies. The company is unregulated and does not provide its headquarters address. While the broker offers services to clients worldwide, Definite Area does not accept U.S. traders like many forex brokers. 

Trading at Definite Area is done through the broker's web-based platform. The trading platform is accessible via different web browsers like Chrome, Firefox, Safari, and Internet Explorer. The broker does not offer a downloadable platform or a functional mobile application for trading. 

Every broker comes with its own pros and cons. While that is a guarantee, some brokers are better off than others depending on what a trader's needs are. This in-depth guide will look at the advantages and disadvantages of investing with Definite Area to help traders determine if the broker is the right fit for them and avoid unwelcome surprises.

Overview of the Pros and Cons of Investing With Definite Area

While some brokers are generally praised by most of their traders, not every company can satisfy all types of traders. Every forex and CFD broker has its own pros and cons. But there are key areas/things which every broker should have to help traders trade safely and profitably. Based on the key things a broker should have here is an overview of the pros and cons of investing with Definite Area.  

Pros 

• Easy and quick payment methods
• Varied customer support options 
• A variety of order entry types 
• Segregates customers funds
• Extensive product offerings 

Cons

• Unlicensed and unregulated
• Undisclosed withdraw fees
• Only a web-based trading platform 
• No demo account 
• Limited free trading educational content and tools
• Failure to disclose basic company information 

Definite Area Pros Explained

Easy and Quick Payment Methods

One of the most important aspects traders consider when selecting a broker is the deposit and withdrawal procedures and methods. While some brokers make traders wait for a longer time to trade after making deposits with wire transfers, Definite Area offers swift deposits. The other payment methods traders can use to deposit and withdraw funds are credit/debit cards and cryptocurrencies.

Varied Customer Support Options 

Industry standards for customer support are easy to access via live chat, email, and phone. Definite Area offers three options. 

• Live chat: Can be launched when logged in to the platform. 
• Phone: +442035355844, +3197010282402
• Email عنوان البريد الإلكتروني هذا محمي من روبوتات السبام. يجب عليك تفعيل الجافاسكربت لرؤيته.

When it comes to the timeline in which you can reach the broker, most brokers offer 24/5 support. 

A Variety of Order Entry Types

Definite area of a variety of or the types which are important for protecting atria against excessive slippage. The broker's platform has all the minimum requirements for order types:

• Stop limit order
• Stop order
• Guaranteed stop-loss
• Market order
• Limits order

Segregates Customers' Funds

The safety of a trader's funds is a very important consideration when looking for a forex and CFD broker. There are many things that go wrong even with an established broker, for instance:

• Bankruptcy
• Internet exploits (hacks)
• Suddenly shutting down

Sometimes even with regulated brokers, there is no guarantee of account protection as with the stock market. However, when a company keeps the client's funds separate from company funds, (like Definite Area does) there is an added layer of protection.

Extensive Product 0fferings

Definitive area provides its clients with access to various markets. At the time of writing this guide traders can access the following: 

Definite Area Cons Explained

Unlicensed and Unregulated Broker 

Most trustworthy and established forex and CFD brokers are regulated. And that is why traders are wary of unlicensed, unregulated brokers. Every country has a financial regulatory authority that licenses firms to operate in their jurisdiction. When it comes to the United States, brokers can only offer their services to U.S. residents if they are registered with the national futures association (NFA). 

Regulation and licensing mean the broker must comply with the rules and regulations stipulated by the regulating authority. If the broker violates the rules then traders are assured that the broker will face legal disciplinary actions. With unlicensed brokers like Definite Area traders are not guaranteed the broker will face legal action in case it violates trading rules.

Undisclosed Withdrawal Fees

Most forex brokers usually give traders a stressful time when it comes to withdrawals and closing an account. From the broker's terms and conditions, traders are charged a commission on withdrawals but the exact amount is not disclosed. 

The broker also doesn't provide clear procedures to follow if a trader wants to opt-out or close the trading account. It's usually a good idea for traders to understand the account closure procedures in case they want to terminate the partnership in the future. 

Only a Web-Based Trading Platform

A broker's trading software matters a lot because it's where traders execute their trades. That is why there should be a mix of desktop-based, web-based, and mobile-based platforms. Web-based platforms are usually great but may lack some features which are crucial in executing different trading strategies.

No Demo Account 

Most brokers provide a demo account to allow new traders to practice their trading strategies and acquaint themselves with the interface, without risking real money. A demo account also enables even experienced or seasoned traders to examine the broker's platform before commencing trading. That is because the demo account is a clear reflection of what it is like to trade with a broker. It has the same features like watchlists, quotes, charts, and bid and ask prices, as the broker's live account. 

Traders should be wary whenever a broker does not provide a demo account. After all, how can traders tell if the broker is using a superior or outdated platform? How it is like to trade with the broker?

Limited Free Trading Educational Content and Tools

Brokers should provide numerous educational materials to help their customers make informed decisions and enhance their trading skills. The educational section of Definite Area has very limited content: 

• A glossary of common trading terms
• Explanation of technical analysis

Most established brokers provide various educational resources, like webinars, video tutorials, and in-depth blog posts on various trading topics. The educational section should also contain tutorials on a broker's trading platform.

For Definite Area, clients can only access educational content when they are signed in to their accounts except when using the standard account. 

Failure To Disclose Basic Company Information

Definite area does not disclose basic company information like

• Company's history
• Headquarters address
• Registered company name
• Company's finances 

This means that traders are dealing with an anonymous broker. Most brokers do provide such information for anyone to access through their websites and help to build trust with the brand. 

Our Final Thoughts on Investing With Definite Area

Every broker has its pros and cons. Traders weigh each and decide if the broker is worth their time and money. Some of the pros of Definite Area are its multi-asset offerings, various order types, different options for contacting customer support, segregation of clients' funds, and clear payment methods/procedures. 

The cons of trading with Definite Area include lack of a demo account, undisclosed withdrawal commissions, limited educational and research content, no company information, lack of licensing, and a web-based only trading platform. 

FAQ

What is Definite Area?

Definite Area is a forex trading company that provides traders with access to major financial markets. 

Is Definite Area regulated?

No, Definite Area is an unlicensed and unregulated brokerage firm. The broker does not offer services to U.S. traders because brokers must be registered with the National Futures Association (NFA) to offer FX trading services to US residents. 

While the regulation does not mean the broker will never violate trading rules, it assures traders that the broker, in such an event, will face legal consequences. That is not the case with unregulated brokers. 

What are the Definite Area trading fees?

Trading financial markets come with trading and non-trading fees. The trading fees include

• Swap fees
• Spreads

Definite area offers competitive spread rates of about 0.1 euro (pips) for popular currency pairs like EUR/USD. The swap rates are fixed but the amount is not stated on the broker's website and terms and conditions document. 

The non-trading fees include:

• Deposit and withdrawal commissions
• Account inactivity fee

Definite Area charges a commission on withdrawals and also a fee on inactive accounts. However, the precise fees are not disclosed. 

What are the Definite Area non-trading fees?

Definite Area non-trading fees are charges that are not directly related to trading activities. These include fees charged on deposits, withdrawals, and inactive accounts. 

Where is the headquarters for Definite Area?

Definite Area doesn't disclose where the company's headquarters is based. It also doesn't provide other basic company details like company history and registered company name. 

How long has Definite Area been in business?

Definite Area is relatively new in the online brokerage space. The company was founded around March 2022 which means it's been in business for a few months only. 

Does Definite Area accept PayPal?

No, Definite Area doesn't accept PayPal deposits and withdrawals. The accepted payment methods are

• Credit/debit cards
• Crypto transfers
• Bank wire transfers 

Does Definite Area have NASDAQ?

Yes, Definite Area offers NASDAQ and about 15 other indices like SP500. 

Does Definite Area offer a demo account?

No, Definite Area doesn't provide prospective clients with a demo account. This is usually not a good thing because traders (both novice and seasoned) should first try out a platform before investing real money. 

How to start trading with Definite Area?

Prospective clients from eligible countries who are above 18 years can start trading with Definite Area in a few steps. It all starts with creating an account and making an initial minimum deposit of 200 Euros. To create an account:

1. Go to the broker's website
2. Click the 'Open account' button
3. Enter the required details in the pop-up form (first name, last name, email address, country,  phone number, and password)
4. Hit 'Submit'
5. Use the email address and password generated in the previous step to log in

How can I contact Definite Area customer support?

You can contact Definite Area's customer support team by emailing عنوان البريد الإلكتروني هذا محمي من روبوتات السبام. يجب عليك تفعيل الجافاسكربت لرؤيته. or calling +442035355844, +3197010282402. Anyone who has an account can also access support by launching the live chat feature embedded on the platform. 

What payment methods does Definite Area accept?

Definite Area accepts crypto transfers, bank wire transfers, and credit/debit cards. 

How long do Definite Area withdrawals take?

While clients can withdraw funds any day, the withdrawal processing timelines are between one and seven business days. If there are further delays, the broker updates the client through email or phone. 

What is the timeline for Definite Area deposits? 

Definite Area deposit timelines are usually dependent on the trader's financial services provider processing time. Which, for the broker's accepted payment methods is a matter of minutes if not seconds. 

What is the initial minimum deposit for Definite Area?

To start trading with Definite Area, prospective clients must make an initial deposit of 200 euros. The amount is within the industry's average as most brokers accept anywhere from $10 to $500. 

How will my withdrawal be processed by Definite Area?

Clients choose the payment method to which they wish to receive funds, for example, crypto transfer, bank transfer, or debit card transfer. The broker doesn't state the minimum amount required to withdraw. However, the account to which the client intends to withdraw must bear the same name as what is available with the broker. 

Does Definite Area offer the MetaTrader platform?

No, Definite Area does not offer the MetaTrader platform. The MetaTrader is regarded as a standalone and industry-standard trading software with numerous features, for instance, a personalized watchlist, market news, price charts, and research. 

Instead, Definite Area built its web-based trading platform. 

Can you access the Definite Area trading platform on a mobile app?

Mobile apps for trading are convenient whenever traders are on the go. Unfortunately, Definite Area clients don't have a mobile app for executing trades on the go.  

Does Definite Area offer bonuses?

Yes, Definite Area offers bonuses to all account holders except those with a standard account. Bonuses come with a set of rules, for instance, a trader cannot withdraw the bonus amount until they meet certain criteria. The criteria are usually executing a number of trades. 

What type of accounts does Definite Area offer?

Definite Area offers seven types of accounts: standard, bronze, silver, gold, platinum, pro, and VIP. The accounts give traders access or limit access to various features like leverage cap, number of insured trades, financial plans, personal financial assistants, market news and an economic calendar, company financing, and educational courses.

Are my funds safe with Definite Area?

Definite Area keeps the client's funds in a separate account from its corporate funds. Segregating customers' funds usually protects traders if a company faces a difficult financial situation. However, when trading margin products, no broker can guarantee 100% safety of funds. 

Will Definite Area accept my account application?

Definite Area accepts most account applications instantly. However, the company has the right to reject any account registration at its own discretion. 

Can Definite Area terminate my account?

Yes, Definite Area can terminate a trader's account temporarily or permanently. The cited reason in the broker's terms and conditions is lack of account verification which usually requires new customers to upload:

• Proof of identity documents (photo ID, passport, or driver's license)
• Proof of address (utility bill, bank statement, etc.)

Are there any risks involved with trading with an unlicensed broker like Definite Area?

Yes, there are risks involved when trading with unlicensed brokers. First, licensing can help to verify if the company is legit and not a scam. Most scam brokers usually don't have licenses and when they indicate they have one on their website, it's usually a fake one. The process companies go through to acquire a license weeds out weak companies. 

Also, there is no guarantee that an unregulated broker will face legal scrutiny if it violates trading rules. 

What are the registration requirements for Definite Area?

Definite Area doesn't have many requirements for prospective clients to register. The only requirement is that the trader is at least 18 years and accepts the firm's terms and conditions. 

Another thing that can affect a trader's ability to register for an account with Definite Area is the country of residence. At the moment, Definite Area doesn't accept traders from the United States. 

What trading instruments does Definite Area offer?

Definite Area offers its clients a variety of financial instruments across major financial markets. Here's what traders can access with the broker:

• About 52 currency pairs, including the popularly traded EURUSD.
• 12 ETFs which include GLD and SPY.
• Nine cannabis
• Popular crypto and USD pairs like BTCUSD
• 19 Indices including NASDAQ and SP500.
• Individual stocks like TSLA and AMZN
• 17 commodities, including wheat and coffee.

How are the Definite Area lot sizes for currency pairs compared to the industry’s average?

A lot size is the smallest available trade size a trader can take for a particular currency pair. The lot size standard can vary depending on the currency. For the US dollar, the average lot size is 100,000 dollars. Definite Area offers micro lots starting with 1000 units so it is at par with the industry average. 

Does Definite Area offer zero negative balance protection?

Definite Area doesn't mention whether it offers zero negative balance for its clients. Typically a zero negative balance guarantees clients that they won't pay more than the money available in their trading accounts if a trade goes against the trader leading to a crash. Given the volatility of FX and CFD trading, a zero negative protection balance can help traders recover from crashed positions that drain their accounts. 

Are there any fees charged for closing a trading account with Definite Area?

Definite Area's website and terms and conditions document doesn't indicate whether a trader incurs any fees for closing an account. Also, there are no guidelines for the process or procedure of closing an account. 

Does Definite Area offer trading education and tools?

Yes, Definite Area offers ver limited educational content on its website but claims to offer educational courses for traders with all account types except the standard account.