Pros and Cons of Definite Area

Definite Area Overview

Founded in March 2022, Definite Area is one of the newest players in the online brokerage landscape. The firm offers traders worldwide access to various financial markets, including forex, commodities, cryptocurrencies, cannabis, shares, ETFs, and indices. Like most brokers, Definite Area doesn't accept U.S. clients. 

Definite Area's trading platform is exclusively web-based. It has a user-friendly interface and can be accessed via any browser (Chrome, Safari, Firefox, Internet Explorer). The broker doesn't provide any mobile apps for on-the-go trading. 

From the Definite Area's website, the broker is entirely anonymous.

There is no trace of even the most basic company information like HQ address, founder, history, executive team, or 'about us' section. Notably, the broker also doesn't provide license information, meaning this is an unregulated broker. 

Is Definite Area here to stay or is it a scam broker that shouldn't be in business? Keep reading to uncover all the details about Definite Area and make an informed decision about investing with the company.

Definite Area Safety Review

Under a broker's safety review, there are several things to consider. One of them is licensing and regulation. 

There are many unlicensed brokers in the industry. But, an unlicensed broker should flash warning signs. For starters, such brokers are not monitored by regulatory bodies and can violate trading rules without the knowledge of unsuspecting traders. And, many brokers who turn out to be scammers are usually unlicensed. 

If an unregulated broker engages in malpractices at the cost of traders, there is no assurance the broker will face legal action. 

Definite Area is an unlicensed, unregulated broker. Brokers usually include their license information at the bottom section of their websites or on the 'about us' section. But this is not the case with Definite Area. Clients are not even sure of the broker's registered company name. 

As implied above, traders should always strive to avoid offshore, unregulated brokers. Instead, invest with regulated companies which stand to face legal action if things go wrong. 

Definite Area also doesn't disclose even the slightest company information. There's no trace of the company's location, name, HQ, founders, a team of analysts, financial experts, etc. The only details on the website that can reveal some information are the UK phone number +442035355844 offered under the 'Contact us' section of the broker's website. But still, that doesn't say anything about the company. 

On the brighter side, Definite Area keeps its clients' funds in a separate account from the corporate bank account. Such safety precautions come in handy if the company declares bankruptcy or goes out of business. 

 

The company also seems to take the data of its clients seriously. It uses SSL (Secure Socket Layer) technology to encrypt and safeguard traders' data from hackers and leaks.

Definite Area Commissions and Fees

Brokers should provide clear fee structures, but they rarely do. And that's the case with Definite Area. The broker hasn't published any fee structure on its website. 

Typically, traders incur both trading and non-trading fees. When it comes to non-trading costs, Definite Area clients can expect the following: 

• Withdrawal commissions: This amount is charged when making withdrawals. Although the amount making up the commission is not disclosed, most competitive brokers do not charge any withdrawal fees. 

• Account inactivity fee: With this fee, too, the broker doesn't disclose the amount. However, almost every broker charges an inactivity fee with no activity on the account after a specified time. 

Definite Area Spread Overview

Trading fees are directly related to trading activities. The fees vary widely between brokers as this is where and how they make money. At the time of writing this Definite Area review, the spread for the most popularly traded currency pair EUR/USD had a pip value € 0.1, which is at par with the industry average. Below is a brief sample of the spread available at Definite Area when writing this:

Definite Area Swap Rates

Another notable trading fee is swap rates charged on active orders kept open after a trading session ends. Definite Area charges an undisclosed, fixed-rate swap fee. 

Definite Area Deposits and Withdrawals

How long do Definite Area deposits take? According to the broker, deposit processing timelines depend on the trader's financial services provider, for instance, a bank (debit cards). 

Regarding withdrawals, clients are free to make requests at any time. However, the processing time is one to seven business days. In case of further delay, Definite Area updates the client through email or phone. 

Deposit and Withdrawal Methods

Definite Area allows deposits and withdrawals via the payment methods people use on a daily basis. Below is a quick overview of the payment methods accepted by Definite Area:

• Prepaid cards/Credit/debit cards (Maestro, Visa, MasterCard)

• Bank wire transfer

• Cryptocurrency transfer.

While it's awesome to see a broker accepting crypto transfers, clients should bear in mind that crypto transfers are irreversible and not disputable should anything go wrong.

Another thing worth noting is that the broker has one condition for deposits and withdrawals. The payment method should be the same as the client's name on the platform.

Definite Area Minimum and Maximum Deposit and Withdrawal,

The initial minimum deposit for Definite Area's clients is €200, which is not far from the industry average. Most brokers in the average range allow an initial minimum of up to $500.

Definite Area Tradable Markets and Products

What asset classes do you wish to trade?

Every trader has their own preferences, and that's why brokers provide a comprehensive selection of products across various asset classes. Even though you may be interested in a specific product today, you may want to diversify your portfolio tomorrow. Being able to diversify on the same account comes in handy. 

Definite Area offers a medium-range selection of tradable financial instruments. Traders have access to

• 19 Indices

• 50+ currency pairs 

• 30+ Individual stocks

• 17 Commodities

• 12 ETFs 

• 9 Cannabis

• 90+ Cryptos

Definite Area Leverage Offered

Definite Area offers leverage. But the cap depends on the type of account one holds. The specifics are not clear from the broker's website.

Leverage disclaimer: While higher leverage can result in enormous profit potential if the trade goes in your favor, it also significantly increases risk exposure. If the trade does not go as planned, you could quickly lose more than your initial investment.

Available Definite Area Trading Platforms and Tools

Trading at Definite Area happens on its web-based platform. The platform is simple and has a user-friendly interface. It's entirely web-based. No downloads are required. 

However, traders who wish to have a mobile app where they can access their trading accounts from anywhere are not catered to. 

Traders can view the spreads for products they want to trade on the right-hand side of the platform. On the left side, traders can see the entire catalog of what's possible to trade with Definite Area. 

It's worth noting that Definite Area doesn't offer widely used MT4 or MT5 trading platforms besides its own web-based trading platform.

Definite Area Account Types

Brokers provide different types of accounts. While the account names differ from broker to broker, the features are typically similar. The major categorization of accounts is the lot size a client is allowed to trade. Hence each type of account has a different initial minimum deposit. The account with a smaller minimum deposit is targeted for beginners and the one with a larger one for experts. 

With Definite Area, though, the main categorization factors are slightly different from the industry standard. Traders can access seven types of accounts. The accounts limit or provide access to various features like daily trading signals updates, level of financial advisor allocated minimum deposit, and the number of insured trades.

Clients can sign up with any account except the VIP account, whose features are not disclosed. According to the broker's website, clients interested in the VIP account should contact the Definite Area team to learn more about the exclusive offers.

Here is a full breakdown of the types of accounts at Definite Area and the features that come with each, as stated on the broker's website:

Standard Account

This is the most simplest account type, which has very limited features:

• Personal account assistant

• Standard leverage

Bronze Account

The bronze account features include:

• Beginner level course

• Bronze leverage

• Bonus

• One insured trade

• A personal finance assistant

Silver Account

The features of the silver account are:

• Silver leverage cap

• A personal finance assistant

• Company financing

• Bonus

• A standard level course

• Four insured trades

Gold Account

The Definite Area’s Gold account offers these 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

Clients who sign up for the platinum account get the following 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

Clients who purchase the Pro account have access to these 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

The VIP account is an exclusive type of account, only reserved for select people. There is no mention of the criteria for these people. Instead, the broker requires clients interested in the account to contact the broker’s financial experts for more details.

Definite Area Account Registration

Definite Area sign-up process is one of the simplest you can ever come across. To sign up, the requirements are also simple. The client should be 18 years old, agree to the broker's terms and conditions, and reside in an eligible country. Below is the sign-up process:

 

1. Go to the Definite Area's website.

2. Click the ‘Open Account’ button on the top right section of the website or, 

3. Go to account types and click the 'Buy' button under the account type you wish to use. 

4. Complete the form, which requires basic details (first and last name, email address, password, country, and phone number). 

Definite Area Customer Support

Definite Area clients can get in touch with the support team via phone, live chat, or email. Below are the details:

• Phone: +442035355844, +3197010282402

• Chat: the live chat feature is available only when logged in to the platform 

• Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

In terms of response times, the broker promises to respond as soon as possible. 

Research Tools Offered by Definite Area

Research materials and tools are lacking at Definite Area. There are no videos, webinars, analyses, in-depth articles, and expert commentaries on Definite Area's website. Compared to other brokers, Definite Area has a long way to go in providing top-notch market research materials for its clients. 

Traders can get such materials from anywhere else on the internet, but it's usually a plus when they can access them from their broker. 

Educational Tools Offered by Definite Area

Definite Area's education section is relatively blank. The only content available is a glossary with 12 terms and an introduction to fundamental and technical analysis. There are no instructional videos or articles on how to use the broker's trading platform. 

However, based on the broker's website, traders can access educational courses exclusive to those who purchase bronze, silver, gold, platinum, pro, or VIP accounts. Trader's can access this educational content by registering in the Definite Area system.

Definite Area Broker Review Final Thoughts

Only a few months into the ever-changing online brokerage landscape, Definite Area doesn't have a high trust score yet. While it usually takes several years for traders to find a broker to be reliable, Definite Area doesn't give prospective clients the kind of information that builds trust. 

There is nothing that clients know about the company except its services. Not even the most basic company information is available on the broker's website. No financials, team of experts, licensing details, headquarters address, etc.

The services offered seem great but are slightly different from what online brokerage firms provide. Is it a way for the broker to set itself apart from the competition? 

Traders should weigh the offers and the downsides of the broker to decide if they should invest with Definite Area. When starting with a newly launched broker, it's best to start small, test out their services, and decide from the kind of experience you get.

Definite Area FAQ

Is Definite Area a Legit Broker?

Definite Area is only a few months in business. Transparency is lacking throughout the broker’s website — there’s no company history or headquarters location. It’s an anonymous and unlicensed broker. Unless the broker invests in adding legitimate company information to the website, traders may not find the broker reliable.

Does an online brokerage firm like Definite Area really need a license?

There are countless unlicensed brokers in the business, and there will always be more. However, regulations in the forex industry are increasing due to cases of brokerage fraud. For traders, it’s easier to trust a licensed broker. While most countries allow unlicensed brokers to enter the market, the United States has strict regulations. For brokers to accept U.S. traders, they must be registered with the National Futures Association (NFA), regardless of any other international licenses the broker holds.

Which government agency or regulator licenses your broker?

Every country has one or more regulatory bodies for forex brokers. For instance:

• United Kingdom: The Financial Conduct Authority (FCA)

• South Africa: The Financial Sector Conduct Authority (FSCA)

• Australia: The Australian Securities and Investments Commission (ASIC)

• The United States: The Commodity Futures Trading Commission (CFTC 

Does Definite Area offer a demo account?

No, Definite Area offers seven different types of accounts, none of which include a demo account.

How secure is Definite Area?

On their website, Definite Area has a data policy section. According to that section, the broker protects customer data and sensitive information with full-data encryption.

Furthermore, the company keeps separate accounts for client funds and company funds.

What trading platform and tools does Definite Area Offer?

DefiniteArea offers limited options when it comes to trading platforms. The trading is done on the broker's web-based platform. No downloads are required. However, no mobile apps are available. 

What are the registration requirements for Definite Area?

The registration requirements for Definite Area are pretty straightforward:

• You must be at least 18 years old

• Accept the broker's terms and conditions

• Reside in an eligible country

Clients can open an account by visiting the broker's website and completing the form under the 'Open account' section. The form requests basic information, such as first and last names, email addresses, country of residence, and phone numbers.

What Trading accounts does Definite Area provide?

Definite Area provides seven different types of accounts which don't include a demo account. The accounts are 

• Standard 

• Bronze 

• Silver 

• Gold 

• Platinum 

• Pro 

• VIP

They vary in terms of the features clients can access, such as the maximum leverage ratio, the level of financial assistance provided, the number of insured trades, financial plans, etc.

How long do withdrawal requests take at Definite Area?

Definite Area withdrawal requests are processed within one day or up to a maximum of seven business days. Delays caused by security checks can extend the timelines, but the client is updated via email or phone about the progress.

Can Definite Area close your account?

Yes, Definite Area can close your account if you don’t submit the required verification documents. The broker requires documents that provide proof of residence and identity. The account termination can be either temporary or permanent.

Does Definite Area accept all account applications?

No, like other brokers, Definite Area doesn’t accept all account applications. Particularly, the broker doesn’t accept traders from the United States and those who are underage. However, the chances of rejection are close to none for the rest of the people.

Are my funds Safe with Definite Area?

Always exercise caution when dealing with unlicensed, unregulated brokers with no track record in the industry. It's best to start small with amounts you're willing to lose and gradually increase if you like the experience.

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

Definite Area clients can trade about 52 currency pairs and a good number of individual shares, ETFs, indices, commodities, and cryptocurrencies.

What payment methods does Definite Area accept?

Definite Area accepts withdraws and deposits via the following payment methods:

• Credit/Debit/Prepaid card

• Bank wire transfer

• Crypto.