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Our AvaTrade review can confirm that this is a highly reputable broker, thanks to its vast experience and global regulation. AvaTrade is an award-winning company that was founded in 2006 by a team of financial experts. Since then, the company has grown rapidly and now boasts over 400,000 globally registered customers, who execute over two million monthly trades. At AvaTrade. you can trade forex, CFDs, cryptocurrency, stocks, indices, and commodities. These are available via MetaTrader 4, MetaTrader 5, and proprietary platforms.
More than 1250 instruments available
Supports automated trading and copy trading
Regulated by CBI, B.V.I. FSC, ASIC, FSCA, FSA, FFAJ, and FRSA
Best broker for forex trading
Not regulated in the United States
AvaTrade overall scores
In this review, you can find all the information you need to decide whether AvaTrade is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how AvaTrade scored in each of our high-priority categories.
AvaTrade fees and commissions
It’s easy to review AvaTrade’s fees as the broker lists spreads clearly on the Financial Instruments page. This page allows you to view the various spreads, which are the main form of fees charged by AvaTrade. The broker does charge an inactivity fee, which is fairly standard, yet if the account is not used for a year, there is also an administration fee. There are no deposit or withdrawal fees, however – a competitive decision which stood out as a major plus in our AvaTrade review.
Our experts have reviewed AvaTrade’s fees based on how they compare with the fees of other reviewed brokers. For each broker, we analyze both trading fees and non-trading fees:
– Trading fees are charged every time you place a trade. They include spreads, commissions, overnight and rollover fees, and currency conversion fees.
– Non-trading fees aren’t directly related to trading, but you should consider them as they make up the cost of using a certain broker. They include payment fees and inactivity fees.
Below you will find a snapshot of the fees charged by AvaTrade. Our experts have created these tables based on the fees applied to a standard account. We consider a standard account to be the one that will appeal to most traders, often not the cheapest option but not a premium option either.
The following table summarizes the fees charged by AvaTrade:
Trading Fees
| TYPE OF FEE | COST |
|---|---|
| Minimum Spread EURUSD (pips) | 0.6 |
| Commission (%) | 0% |
| Commission on Islamic Accounts (%) | 0% |
*Based on Standard account type.
Non-Trading Fees
| Account Fee | N |
| Inactivity Fees | Y |
| Deposit Fees | N |
| Withdrawal Fees | N |
AvaTrade trading fees
Our review of AvaTrade found that the broker has highly competitive trading fees. AvaTrade does not charge fees for trading directly and instead makes its profit via spreads. Within that model, the trading fees are very appealing, with some of the following example spreads:
- EUR/USD from 0.9
- Apple from 0.13%
- Crude Oil Spot from 0.03
- S&P 500 from 0.25 Over Market
- MSCI Emerging Markets Index Fund from 0.13%
- EURO-BUND from 0.03 Over Market
- BTCUSD from 0.35% Over Market
Financing/overnight rates
As expected, AvaTrade does charge an overnight rate, which the broker refers to as an Overnight Premium. This is a set fee, and it varies by instrument. You can view and calculate the Overnight Premium by viewing information on the Trading Conditions and Charges page.
Click on the asset that you want to know the fees for, and you will see the relevant rates. As an example, the Overnight Interest Sell rate for EUR/USD is 0.0000%, whereas the Buy rate is 0.0118%.
Other examples of Overnight Interest Sell/Buy rates include:
- Apple: -.01111% Sell/-0.0166% Buy
- Crude Oil Spot: -0.0053% Sell/-0.0053% Buy
- S&P 500: -0.0058% Sell/-0.0058% Buy
- MSCI Emerging Markets Index Fund: -0.0111% Sell/-0.0166% Buy
- EURO-BUND: -0.0042% Sell/-0.0042% Buy
- BTCUSD: -0.033% Sell/-0.0694% Buy
Non-trading fees
Those who do not trade regularly should be aware of the potential fees for inactivity. Our AvaTrade broker review team cautions that if you have not used your account for three consecutive months, you will be charged an inactivity fee of $50 or 50 in your account’s base currency (e.g. 50 EUR or 50 GBP).
If you leave your account inactive for 12 consecutive months, AvaTrade will then charge you an administration fee of $100 or 100 in your account’s base currency (e.g. 100 EUR or 100 GBP).
You should keep in mind that most brokers have lower inactivity fees and charge them monthly. AvaTrade takes a somewhat unique approach by having a higher inactivity fee and administration fee, yet each of which is only charged once.
AvaTrade safety
Our AvaTrade forex broker team can confidently state that AvaTrade is a safe broker. It is regulated by numerous organizations and regulatory bodies around the world, including the CBI, B.V.I. FSC, FSCA, ASIC, FSA, FFAJ, and FRSA. Client funds are always segregated, regardless of where your AvaTrade account is based. European clients additionally receive deposit compensation via the ICCL Investor Compensation Company Ltd.
AvaTrade licenses and regulation
As a worldwide broker, AvaTrade is regulated and licensed by various authorities in different jurisdictions:
- The Central Bank of Ireland (CBI) regulates AVA Trade EU Ltd. in Europe with license number C53877.
- The V.I. Financial Services Commission regulates AVA Trade Ltd. in the British Virgin Islands with license number SIBA/L/13/1049.
- The Australian Securities and Investments Commission (ASIC) regulates Ava Capital Markets Australia Pty Ltd in Australia with license number 406684.
- The South African Financial Sector Conduct Authority (FSCA) regulates Ava Capital Markets Pty. in South Africa with license number 45984.
- The Financial Services Agency (FSA) and the Financial Futures Association of Japan (FFAJ) regulate Ava Trade Japan K.K. in Japan with license numbers 1662 and 1574, respectively.
- The Abu Dhabi Global Markets (ADGM) Financial Regulatory Services Authority (FRSA) regulates Ava Trade Middle East Ltd. in Abu Dhabi with license number 190018.
The number of licenses certainly caught our eye during our review of AvaTrade forex broker, as it’s rare for a single broker to be regulated and licensed by so many organizations around the world. As such, this should give you a high level of trust in the broker.
Is AvaTrade safe?
Our review methodology considers several factors to ensure that all of our recommended brokers are safe and reputable. Alongside the number and strength of licenses, we also consider:
- What protection and/or insurance AvaTrade offers should something go wrong
- AvaTrade’s reputation, history, and management
AvaTrade client protection
Depending on the region in which you open your AvaTrade account, you may be entitled to additional client protection.
Client Protection
As an AvaTrade client, you will always receive negative balance protection. This is true regardless of the country or region in which you open your account. Client funds are also stored in segregated accounts, in compliance with various regulatory bodies.
The broker uses 256-bit SSL encryption across its website and has the Embedded True-Site identity assurance seal. To prevent identity theft and credit card fraud, AvaTrade utilizes McAfee Secure (HackerSafe).
AvaTrade background and reputation
AvaTrade has been in operation since 2006, providing consistently reliable service to clients. This should give you confidence while you review AvaTrade, as the longevity of the broker indicates that it is unlikely to fail anytime soon.
AvaTrade’s history is almost entirely clear from scandals, scams, and warnings. The sole exception is that the Canadian government in Saskatchewan advised residents not to invest with AvaTrade in 2018. This was simply due to the lack of registration for operations in that jurisdiction, as well as in British Columbia, Quebec, and Ontario. This should be taken with a grain of salt, as many brokers choose not to operate in these Canadian provinces due to regulations that are extremely hard to meet. Additionally, AvaTrade will not accept clients from these provinces anyway, due to the lack of regulation. With proper context, this is far from a scandal.
The American Institute of Certified Public Accounts has determined that AvaTrade is WebTrust-compliant.
The AvaTrade Financial Centre is located in Dublin, Ireland. The broker has additional international offices in Sydney, Australia; Santiago, Chile; Beijing, China; Milano, Italy; Tokyo, Japan; CDMX, Mexico; Mongolia; and Johannesburg, South Africa.
Opening an account with AvaTrade
Our AvaTrade review team found it incredibly straightforward to open an account with the forex broker. It is quick, only taking a matter of minutes, and can be completed online. The minimum deposit is also very accessible at just 100 units of the base currency i.e. $100, 100 EUR, 100 GBP, or 100 AUD. Overall, this easy registration process should make AvaTrade a convenient option no matter where you’re trading from.
Is AvaTrade available in your country?
AvaTrade is available in most countries due to its global regulation. Some countries, however, have a more limited selection of assets available.
AvaTrade is not available in the United States as it is not regulated there.
How to open an AvaTrade account
Opening an AvaTrade account is incredibly easy, and you can complete the steps within minutes.
- Step 1
Go to the XM Group homepage and select the “Open an Account” button in the top-right corner
- Step 2
Fill in personal details, including name, email address, country of residence, preferred language and phone number
- Step 3
Select which XM Group entity you wish to trade with (only for EU traders, choose between XM CY or XM Global) and select your trading platform (choose between MT 4 and MT5)
- Step 4
Supply the broker with your date of birth and address (this should be the same as it will appear on your supporting documentation). Verify whether you are a US citizen for tax purposes, choose your base currency and your leverage
- Step 5
Answer questions about employment status, capital, trading aims, and trading experience
- Step 6
Create a password, accept terms and conditions and select the “open real account” button
- Step 7
Download and open the trading platform software and log in with your new XM credentials
What you will need to open an account
Review AvaTrade forex broker registration requirements before opening an account. This will help you ensure that you have the proper information and documents on hand.
- Personal information – You will need to provide your full name, email address, phone number, address, tax residency information, and employment status.
- Regulatory information – As part of KYC and AML requirements, AvaTrade requires the above personal information and below documentation. In some jurisdictions, such as Europe, AvaTrade may also ask you to complete a small questionnaire concerning your trading aims, experience, and knowledge.
- Documentation – You must submit proof of ID and address to verify your account. The proof of ID must be a colored copy of a government-issued ID, such as a driver’s license or passport. It must include your date of birth, name, and photo. The proof of address must be a utility bill that includes your name and address. It must also display the date issued, which must be within the past six months. Mobile phone bills are not accepted. If you make a deposit using a credit card, you may also need to submit images of the card in question, with the middle eight digits from the front and the back security code hidden.
To open an account with AvaTrade, you’ll need to provide proof of identity and proof of address. This process allows AvaTrade to meet KYC (Know Your Customer) guidelines. KYC guidelines keep you safe and stop the broker from accidentally facilitating illegal practices, such as money laundering.
What is the minimum deposit at AvaTrade?
The minimum deposit at AvaTrade is just 100 units of the base currency. If your account is in USD, this is $100. Otherwise, it may be 100 EUR, 100 GBP, or 100 AUD.
AvaTrade payment methods
You can choose to open an AvaTrade account in one of four base currencies: USD, EUR, GBP, or AUD. Keep in mind that only Australian customers can choose AUD as their base currency, and only customers from the United Kingdom can choose GBP as the base currency. The deposit and withdrawal methods vary based on location. All clients can use credit cards and wire transfers, and clients from outside Australia and the EU can also use e-payments.
AvaTrade account types
As you review AvaTrade forex broker account types, you will notice that they vary based on where you’re trading from. Most clients can open one of two account types: a Standard Account or an Options Account. If you are in Abu Dhabi, you’ll also have the option of a Professional Account, whilst European clients can open Professional or Spread Betting accounts too. As each account type offers access to all asset classes and numerous trading platforms. whichever way you like to trade, there’s an AvaTrade account for you.
Demo accounts
Our AvaTrade review team strongly suggests that you open a demo account before trading with a live account on AvaTrade. The demo account is completely free, and you can use it on all of the supported trading platforms. The demo account comes with $100,000 in virtual funds.
We suggest that beginners use this demo account to hone their skills and test strategies. The demo account is also an excellent way to get a feel for the various platforms. Even advanced traders should use the demo account to test new strategies before implementing them.
Islamic accounts
Opening an Islamic account is simple and lets you trade in a way that is compliant with Sharia law. Before you open an Islamic account, you must first open a regular account. After you’ve created and verified it, add some funds. Once there are funds in the account, you can register for an Islamic account. It usually takes one or two business days to process the requests.
Professional accounts
Because the account offerings from AvaTrade are fairly straightforward, we included a deeper look at Professional accounts in our review of AvaTrade Forex broker. Remember that this type of account is only available in select EU countries and under European Union regulations.
Professional traders receive tighter spreads when trading, along with the possibility of increased leverage. Because the risks are greater, you must meet two out of three requirements to open a professional account with AvaTrade.
To open a Professional account, you must:
- Have had an average of 10 transactions per quarter, of significant size, for the past four quarters
- Have at least a year of experience working in the financial sector in a professional role that required service or transaction knowledge, and/or
- Have at least 500,000 EUR in your financial investment portfolio, including financial instruments and cash savings
AvaTrade trading platforms
Our AvaTrade broker review team is highly impressed by the variety of platforms offered by the broker. Clients can use the ever-popular MetaTrader 4 and MetaTrader 5 platforms, which advanced traders are already familiar with. There is also a mobile AvaTradeGO application, AvaOptions, and support for external automated trading platforms. This includes DupliTrade, ZuluTrade, and MQL5 – Signals Service.
AvaTrade offers seven trading platforms. A trading platform is simply a software interface that allows you to place trades. Trading platforms often come with charting, research, and order processing tools, too.
To ensure that we only recommend high-quality brokers, our reviewers have tried and tested each of AvaTrade’s trading platforms. When doing so, they considered a range of factors, including how easy the platforms are to use, what features each trading platform offers, and how suited each platform is to different types of traders.
MetaTrader 4
MetaTrader 4 (MT4) has been around since 2002 and is the industry standard for Forex and CFD trading. You can access the AvaTrade MT4 trading platform via your personal computer, web browser, or mobile device. The platform is fast and flexible.
You can access trading signals from some of the top providers via MetaTrader 4. Plus, you can take advantage of expert advisors for algorithmic trading. Our AvaTrade broker review also encourages you to look into the Guardian Angel feature incorporated into MT4, which is a personal decision-making tool aimed at novice traders. MetaTrader 4 also allows hedging, which gives you protection from market uncertainties.
You can use the MQL4 programming language to develop custom trading tools or take advantage of those that are already in the program.
MT4 already includes nine timeframes, three charts, 30 built-in indicators, and 24 graphical indicators as well as four pending order types.
With MT4, AvaTrade clients can trade directly from the charts, trade micro-lots, and take advantage of streaming news. There is even a free chat function for the trading community on the mobile version.
MetaTrader 5
We suggest that advanced traders review AvaTrade’s MT5 access as this platform has even more tools available than the MetaTrader 4. MT5 also supports expert advisors and custom indicators, as well as scripts and libraries. It is available on mobile devices, the web, or as a download.
You can use the already-created automated trading robots made by professionals or create your own. The programming language in MT5 is MQL5, which is for financial applications. Compared to MT4, MT5 is more advanced and features a quicker development cycle, which makes optimization easier.
To help with your analysis and trading, you can use 12 timeframes, three charts, 38 built-in indicators, six pending order types, and 37 graphical objects with MT5 for AvaTrade. You also get the ability to trade directly from charts, one-click trading, micro-lots, and a multi-threaded strategy tester that advanced traders will appreciate.
AvaTradeGO
In addition to the mobile versions of MT4 and MT5, you can trade on the go with AvaTradeGO. It includes full access to AvaTrade instruments. The application includes clear charts, details, zoom functionality, and intuitive management tools.
Monitoring markets and executing trades is simple on AvaTradeGO. There is also an exclusive Market Trends feature to monitor social trends from the community of traders. This feature gives you insight and helps with sentiment analysis.
AvaTradeGO also offers AvaProtect, a unique feature that sets the broker apart from the crowd. Our AvaTrade reviewers found that AvaProtect is a risk management tool that protects your trades. You have the option to purchase protection for a trade and indicate the duration. If the protection period is over and the open position is losing, AvaTrade will reimburse you. It is a small fee that can provide 100% protection on your trades.
AvaOptions
AvaOptions is the AvaTrade platform designed specifically for trading options. It features 13 options trading strategies as well as the ability to trade forex and forex options visually. AvaOptions is available as a mobile application, where you can access more than 40 currency pairs in addition to any combination of put and call options. The platform lets you execute spreads, risk reversals, straddles, strangles, and more.
Both the mobile and desktop versions of AvaOptions feature risk management tools, including the ability to view risks and simulate positions. You also get flexible orders, including limit and stop orders, with pre-determined premium levels. This way, you have complete control. The interface is fully customizable, with features like streaming prices for options and spots, payoff diagrams, and live risk reports.
Our AvaTrade review team also recommends this platform to professionals because of its money management features. That includes the ability to trade on multiple accounts with just one ticket. AvaOptions also comes with an interactive streaming pricing widget, options education, physical or cash settlement in a margin account, and streaming liquidity.
DupliTrade
We encourage AvaTrade clients interested in automated trading to consider using the DupliTrade platform, which is compatible with MT4. This is a user-friendly platform that makes it possible to copy trades made by experts. You can choose from a range of successful traders and their successful strategies. You can see trading records and the proven history before you choose who to copy, providing you with additional confidence.
With DupliTrade for AvaTrade, you can easily analyze and track your trading account with real-time information. For further control, you can view extensive information about each strategy and strategy provider before choosing one. You can see the strategy type, net profit/loss (percent), followers, and charts of the strategies.
To use the DupliTrade platform, you will need to have at least $2,000 in your AvaTrade account. Our review of the AvaTrade Forex broker points out that this minimum is higher than the $100 minimum for opening an AvaTrade account, so you should plan accordingly.
ZuluTrade
ZuluTrade is another automated trading platform that can appeal to a range of AvaTrade clients. This platform also works with MetaTrader 4. With ZuluTrade, you copy and follow seasoned traders. It gives you the ability to choose from many signal providers and view rankings based on currency, success, and other factors.
ZuluTrade comes with strategy and risk management tools. It also features ZuluGuard for protection, in case the signal providers you are copying change their strategy or their trades stop doing well.
Our team cautions that there is a higher minimum deposit to access ZuluTrade than AvaTrade in general, although it is more accessible than that of DupliTrade. The minimum balance to use ZuluTrade with your AvaTrade account is $500. You can also use your demo account with ZuluTrade if you wish.
What is the execution policy at AvaTrade?
As you review AvaTrade’s execution policy, you will notice that the broker is a market maker. According to AvaTrade, this execution policy allows it to maintain highly competitive spreads. AvaTrade prides itself on offering a fast execution speed, and there are no requotes on MetaTrader 5.
AvaTrade markets and products
AvaTrade provides access to more than 1250 instruments in nine asset classes, including forex and CFDs, commodities, ETFs, shares, and cryptocurrencies. This huge range is larger than many brokers of the same caliber and provides you with great opportunities to protect your balance by diversifying your portfolio. Our AvaTrade review team was especially happy to find a wide range of cryptos, as we know these are increasing in popularity with all types of traders.
| Instrument | Number |
|---|---|
| Currency Pairs | 55 |
| Commodities | 18 |
| Precious Metals | 5 |
| Indices | 20 |
| Stocks and Shares | 617 |
| Cryptocurrencies | 14 |
| Options | 44 |
| ETFs | 5 |
Currency pairs
The 55 currency pairs offered by AvaTrade include majors, minors, and exotics. With so many currency pairs, you can trade currencies from around the world.
As an example of the trading conditions for Forex pairs, EUR/USD has spreads from 0.9 pips, leverage of up to 400:1, and margin requirements of just 0.25%.
Commodities
Commodities are one of the many instruments AvaTrade offers as CFDs, allowing you to diversify your portfolio without owning the underlying asset. Commodities include agricultural products and energy. Spreads and leverage depend on the commodity in question.
As an example, gold has spreads from 0.34 and leverage of up to 200:1, while these figures are $0.25 over market and 33:1 for corn or $0.0015 over market and 50:1 for heating oil.
Precious metals
Precious metal CFDs are included under the commodity CFDs from AvaTrade. These include copper, platinum, gold, silver, and palladium. Most of these have maximum leverage of 50:1, although the maximum leverage for gold is 200:1.
Indices
You can easily see the global reach of AvaTrade via its index offerings, which are also offered solely as CFDs. There are indices from around the world, including the S&P 500, NASDAQ 100, DJ EURO STOXX50, MSCI, SPAIN 35, NIKKEI225, and CHINA A50. There are also rarer indices, such as the CANNABIS INDEX, which are perfect for adventurous traders.
Stocks and shares
Trading stocks and shares on AvaTrade is only available via CFDs, so you should keep that in mind. This is a nice alternative to traditional stock trading as it allows you to profit from market movements in either direction and trade with leverage.
As an example of stock trading conditions, Apple, Cisco Systems, Google, and Amazon all have spreads from 0.13%, margin requirements of 10%, and leverage of up to 10:1.
One important thing to note is that trading on MetaTrader 5 gives you full access to the 617 stocks and shares from AvaTrade. Trading on MetaTrader 4 only provides access to 64 of these. In the experience of our AvaTrade broker review team, the latter of these figures is an average amount of CFD shares available for trading, while the offerings for MT5 are exceptional.
Cryptocurrencies
Based on the findings from our review of AvaTrade, we encourage those of you with an interest in cryptocurrency to consider crypto CFDs at this forex broker. Cryptocurrency CFDs let you trade and make a potential profit without having to own the underlying asset. With 14 cryptocurrency pairs available, AvaTrade has an above-average selection.
Notably, our AvaTrade Forex broker review team points out that Bitcoin is available as an instrument traded with more than just USD. You can also trade BTC/EUR and BTC/JPY, the latter of which is a particularly rare offering. The inclusion of the CRYPTO 10 INDEX is also noteworthy as it allows you to invest in cryptocurrency as a whole.
ETFs
Although AvaTrade only has five ETFs available, they are fairly varied, including the MSCI Brazil Index Fund for international interests. The other ETFs are the MSCI Emerging Markets Index Fund, the S&P 500 VIX Short-Term Futures ETN-Series B, Market Vectors TR Gold Miners, and Energy Select Sector SPDR.
Bonds
Just two bond CFDs are available from AvaTrade, although this is more than most competitors offer. You can trade EURO-BUND or JAPAN GOVT BOND, each with leverage of up to 20:1 and with spreads of 0.03 over market and 0.06 over market, respectively.
FX options
The inclusion of forex options in certain markets is a feature that helps AvaTrade stand out from the competition. Trading vanilla options lets you choose from call or put options, including the ability to buy or sell either.
Leverage on most Forex options is up to 100:1, and the spreads are typically the same as they are for the relevant Forex pair.
Social trading
Social trading is available on AvaTrade via DupliTrade and ZuluTrade, both of which easily integrate with MT4 and accommodate a range of asset classes.
AvaTrade research tools
Between the tools offered on its website and those on the various platforms, our AvaTrade forex broker review team found multiple useful research resources for traders of all levels. In addition to the Guardian Angel tool available on MT4 and MT5, and AvaProtect on the AvaTradeGO app, the broker also offers earnings releases, CFD rollover dates, trading calculators, and other useful analysis tools.
AvaTrade Research Tools
| News (from top-tier sources) | Y |
| Trading Signals and Indicators | Y |
| Trade Ideas | Y |
| Expert Analysis | Y |
| Autochartist Tools | Y |
| Sentiment Charts | Y |
| Economic Calendar | Y |
Trading signals and indicators
The MQL5 Signals Service is one of the ways that AvaTrade gives you access to forex signals. MQL5 Signals Service is fully integrated with both MT5 and MT4. There is no required minimum account balance nor any hidden fees or commissions. Before choosing a provider to subscribe to, you can view their historical data to make an informed decision. Additionally, MQL5 has global cloud infrastructure, allowing for faster execution of signals. MQL5 signals put you in complete control, as you can add, remove, or renew signal subscriptions.
Trade ideas
Trade ideas come in multiple forms with AvaTrade. If you want ideas, the best option we discovered during our review of the AvaTrade Forex broker is subscribing to MSQL5 signals or Expert Advisors. Alternatively, you can make use of the social and copy-trading capabilities on ZuluTrade and DupliTrade.
Expert analysis
AvaTrade offers market analysis to all clients, and a login is required to access this information. The expert analysis includes technical analysis, fundamental analysis, and sentimental analysis.
Autochartist tools
You can use Autochartist with MetaTrader 4 on AvaTrade, including technical analysis tools, chart pattern recognition, Fibonacci pattern recognition, pattern quality indicators, and key level analysis.
AvaTrade customer support
Our experience with AvaTrade customer support has been positive, with quick response times across multiple contact methods. There are even separate contact numbers for dozens of countries, meaning you can always call a local number for phone assistance. Between phone, email, and live chat, you’ll have no problem contacting customer support.
During our review of AvaTrade, we tested multiple contact methods, including:
- Live chat
- Sending an email via the contact form
- International phone number: +353766705834
Additionally, AvaTrade has separate contact numbers for many of the countries where it operates. There are unique numbers for 21 European countries, Australia, two African countries, seven Asian countries, four South American countries, two Middle Eastern countries, and one North American country. For added convenience, you can find the number for your location at the top of the AvaTrade website at all times, preventing the need to visit the Contact Us page and scroll through numbers.
AvaTrade has a reasonably extensive FAQ section with answers to most of the questions you are likely to have. Conveniently, the FAQ section has categories, sub-categories, and a search feature.
The customer support team is competent and available 24/5. It is easy to get answers to your questions, and our sample queries were answered promptly and in plenty of detail.
AvaTrade mobile compatibility
Our AvaTrade review found that the broker was easy to use on mobile devices. We appreciate the fact that AvaTradeGO, MetaTrader 4, and MetaTrader 5 are all available on mobile devices, in addition to mobile compatibility with automated trading. You’ll enjoy full functionality via these mobile applications, as well as unique features like AvaProtect. Furthermore, the ability to use a single login across devices – including mobile ones – is highly convenient.
The AvaTrade website is among the easier broker pages to navigate on mobile devices. It does not cut off any of the navigation menus on a mobile device, which is rare and makes exploring the site easier. Of course, visiting the website on a mobile device requires additional clicks, but all content is readily available.
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Our Axiory review confirms that this is a reputable broker with a strong reputation. Founded in 2012 and based in Belize, Axiory allows you to trade forex and CFDs on indices, metals and commodities. Though this may seem like a limited product selection compared to other brokers, fair fees, great trading platforms, and regulation from IFSC make the broker worth your consideration. Continue reading our broker review to discover how Axiory caters to your trading needs.
Trade over 80 instruments
Choose between MT4 and cTrader
Winner of the ‘Most Transparent Broker in 2020 Award’ at the International Investor Awards
Winner of the ‘Excellence in Customer Service Award’ at the International Investor Awards
Best broker for trading with analytical tools
Not available in the United States
Axiory overall scores
In this review, you can find all the information you need to decide whether Axiory is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how Axiory scored in each of our high-priority categories.
Axiory fees and commissions
Our review of Axiory found that the broker offers lower fees than many of its competitors. All spreads are floating, and only Nano account holders must pay commissions. There are no inactivity fees, and most deposits and withdrawals are free too. Overall, this makes Axiory perfect for traders of all skills and budgets.
Our experts have reviewed Axiory’s fees based on how they compare with the fees of other reviewed brokers. For each broker, we analyze both trading fees and non-trading fees:
– Trading fees are charged every time you place a trade. They include spreads, commissions, overnight and rollover fees, and currency conversion fees.
– Non-trading fees aren’t directly related to trading, but you should consider them as they make up the cost of using a certain broker. They include payment fees and inactivity fees.
Below you will find a snapshot of the fees charged by Axiory. Our experts have created these tables based on the fees applied to a standard account. We consider a standard account to be the one that will appeal to most traders. It is often not the cheapest option but not a premium option, either.
Trading Fees
| TYPE OF FEE | COST |
|---|---|
| Minimum Spread EURUSD (pips) | 1.1 |
| Commission (%) | 0% |
| Commission on Islamic Accounts (%) | 5% |
*Based on Standard account type.
Non-Trading Fees
| Account Fee | N |
| Inactivity Fees | N |
| Deposit Fees | N |
| Withdrawal Fees | Y |
Axiory trading fees
Axiory offers floating spreads on all account types and, with a Standard or Max account, these are the only fees to consider. With a Nano account you will pay commission fees too, although spreads are tighter to reflect this difference. Overall, this pricing structure allows Axiory to offer lower trading fees than many competitors.
To make calculating the cost of your trades easy, Axiory publishes a list of the average spreads and swaps for each instrument it offers. To give you a good overview of what to expect, we’ve also created the following list of average spreads on forex pairs:
- EURUSD: 0.2 for Nano, 1.2 for Standard, 1.9 for Max
- AUDUSD: 1.2, 2.4, 3.5, respectively
- GBPUSD: 0.5, 1.5, 2.2, respectively
- ZARJPY: 5.6, 6.6, 7.4, respectively
The following are average spreads for some index CFDs on Axiory:
- DAX: 1.5 for Nano, 1.8 for Standard, 1.8 for Max
- FTSE: 2.1, 3.1, 3.7, respectively
- DOW: 4, 6, 8, respectively
- NSDQ: 1.1, 1.6, 1.5, respectively
Average spreads for metal CFDs are:
- XAUUSD: 0.1 for Nano, 0.3 for Standard, 0.37 for Max
- XAGUSD: 0.011, 0.031, 0.038, respectively
- XPTUSD: 1.9, 1.9, 2, respectively
- XPDUSD: 3.9, 3.9, 4, respectively
Finally, the following are example spreads for energy CFDs:
- NGAS: 0.007 for Nano, 0.007 for Standard, 0.024 for Max
- CL: 0.04 for all accounts
- BRENT: 0.05 for all accounts
It is also worth noting that if you have a large account balance or a high trading volume, you can discuss reducing your spread rates with Axiory directly.
Axiory commissions
Standard and Max accounts do not have any commissions. Nano accounts, with their tighter spreads, have commissions of $6 per lot.
Financing/overnight rates
You can view the overnight or swap rates on the specific market pages on Axiory or on the Spreads, Swaps, and Dividends page. The following show some of the average swaps in points:
- EURUSD: -4.59/0.05 long/short
- AUDCAD: -1.41/-2.5 long/short
- GBPUSD: -4.76/-3.5 long/short
- ZARJPY: 0.632/-1.071 long/short
- DAX: -0.1/-0.2 long/short
- NSDQ: -0.85/-0.65 long/short
- XAUUSD: -5.38/-2.38 long/short
- XAGUSD: -0.919/-0.35 long/short
- CL: -1.0204/0.7693 long/short
Non-trading fees
As you review Axiory’s payment methods, you will notice that the broker does not charge for most deposits or withdrawals. However, if you make a deposit or withdrawal of less than $200, there is a $15 for wire transfers and a $10 fee for all other methods. The payment method provider may also charge a fee, which will be passed on to you. Additionally, you must pay the remittance fee in the case of withdrawals via wire transfer.
It is important to note that Axiory does not charge inactivity fees, but the broker reserves the right to close your account after three months of inactivity. As such, you should make it a point to make regular trades if you want to keep your account open.
Axiory safety
Our review of the Axiory forex broker found numerous indications that your funds and information are safe with this broker. Axiory is regulated by the IFSC and is a Financial Commission member, entitling clients to a compensation fund. The broker also offers negative balance protection and transparency and is audited twice each year by a Big Four auditing firm.
Axiory licenses and regulation
Axiory Global Ltd. is the parent company of Axiory, which is one of its trade names. Axiory Global Ltd. is regulated and authorized by the International Financial Services Commission of Belize with license number 000122/15. It has registration number 127 090. It has its registered address at No. 1 Corner of Hutson Street and Marine Parade, Belize City, Belize.
The website for Axiory is owned by the AXIORY group of companies, which includes Axiory Global Limited and PT International Limited. This company operates the website and has registration number 9668659 with its registered address at Enterprise House, 5 Roundwood Lane, Harpenden, Herts, England, AL5 3BW, London. As that company only operates the website, there is no need for financial regulation.
Is Axiory safe?
Our review methodology considers several factors to ensure that all of our recommended brokers are safe and reputable. Alongside the number and strength of licenses, we also consider:
- What protection and/or insurance Axiory offers should something go wrong
- Axiory’s reputation, history, and management
Axiory client protection
To provide additional peace of mind, Axiory clients have access to a client compensation scheme in the unlikely event that the broker files for bankruptcy. If this occurs, a third-party auditing firm will handle the relevant funds.
All clients of Axiory receive negative balance protection for additional safety of funds. To prevent you from needing to use this feature, Axiory also offers margin calls and stop-outs. The margin call stops you from opening a new position if you drop below 50% of it.
Axiory background and reputation
As you review the Axiory forex broker’s safety, fairness, and transparency measures, you will notice that the broker is transparent. It publishes trading statistics freely on its website. The broker also never manipulates the prices; instead, it gets pricing right from liquidity providers.
All client funds are held in segregated accounts. Those funds are never used in any way other than for your trading account.
Our Axiory review also appreciates that the broker annually files reports for PWC, one of the Big Four accounting firms. These ISRS 4400 reports include confirmation that individual balances are properly calculated and reconcile with the company’s general ledger. Essentially, the auditing reports confirm that Axiory had no miscalculations or misplacements of funds, not even cents.
Opening an account with Axiory
Our Axiory review confirms the broker’s claim that you can open an account in less than 10 minutes, as the process is incredibly straightforward and quick. The process is fully digital, and verification takes place via Jumio. There is also the convenient option of opening a Light Live account with just your proof of address. However, keep in mind that you cannot withdraw more than your initial deposit without upgrading to a fully verified account.
Is Axiory available in your country?
As you review the Axiory forex broker’s availability around the world, you will notice a handful of key regions and countries in which it is not available, including:
- The United States
- Canada
- The European Union
- The Islamic Republic of Iran
- North Korea
- Indonesia
- Belize
There may also be restrictions on the services available in certain other countries.
How to open an account at Axiory
As mentioned, Axiory claims you can open an account and start trading within 10 minutes, which our team found accurate. The process of signing up and verifying your account is intuitive and entirely digital.
- Step 1
Click “Open Account” in green on the top right corner of the website.
- Step 2
Fill out the form with your first and last name, email address, country, phone number, and chosen password. Enter an affiliate code if you have one, agree to the privacy policy and terms and conditions and click “Start Trading.”
- Step 3
Submit your documents for verification using Jumio and your mobile phone camera or a scanner.
- Step 4
Check your email for your login information to get started.
- Step 5
Fund your account and start trading.
What you will need to open an account
To open an account with Axiory, you will need to have some key information and two documents. Our Axiory broker review team suggests gathering these documents before you start registration, as this saves time. By using Jumio for client verification, Axiory dramatically reduces the time it takes to start trading, as many competitors take days for account verification.
- Personal information – You will need to provide your personal information, including your first and last name, birthdate, nationality, email address, phone number, postal address, and an official identification number.
- Regulatory information – The regulatory information includes the above personal information and the below documentation. You may also be asked to complete a short questionnaire to assess the suitability of Axiory’s products for you.
- Documentation – To open a full live account, you will need to submit proof of identity and proof of address. If you opt for the Light Live Account, you can skip the proof of address, but remember that you cannot withdraw profits greater than your deposits with that account type. To withdraw those profits, you would need to switch to a Live Trading Account by submitting a proof of address.
The proof of identification documents can be your driver’s license, official ID, or passport. Jumio will ask you to take a clear photo of the document plus a photo of yourself to confirm it is you in the ID.
The proof of residence must be from the last six months and must be issued by a third party in your name. It must have all four corners visible and can be a PDF. Options include tax-related documents, residence permits (with the seal on the same page), bills from credit card companies or banks (with the issuer’s seal visible), telephone receipt (with the issuer’s seal visible), or a public utility receipt.
To open an account with Axiory, you’ll need to provide proof of identity and proof of address. This process allows Axiory to meet KYC (Know Your Customer) guidelines. KYC guidelines keep you safe and stop the broker from accidentally facilitating illegal practices such as money laundering.
What is the minimum deposit at Axiory?
The minimum deposit at Axiory is incredibly accessible, as you just need to deposit $10 to open a Max account. Similarly, Nano and Standard accounts have a minimum deposit of $10 as well, which is still highly accessible.
This low deposit requirement helps Axiory appeal to beginners who do not have much to invest or do not want to commit to a large investment without more experience.
Axiory payment methods
As you review the Axiory forex broker’s payment methods, you will notice numerous local and international options. Remember that accounts can have base currencies of USD or EUR. If you deposit in a different currency, you will likely have to pay a currency conversion fee. It is also worth mentioning that Axiory does not charge for deposits or withdrawals, provided they are over $200, but the payment provider may charge a fee. Withdrawals are processed within 24 hours. Remember that withdrawing more than your deposit requires full account verification.
Axiory account types
You can choose from three main types of accounts at Axiory: Nano, Standard, or Max. There are also corporate accounts with exclusive spreads, but those are obviously only available to corporate clients. We encourage you to review Axiory’s demo accounts to practice strategies and hone your skills.
Demo accounts
Our review of the Axiory forex broker strongly suggests you make full use of the broker’s demo accounts. This account is risk-free and provides you with access to real trading conditions. It is a great resource for beginners who want to be familiar with trading before risking real funds. It is also helpful for traders of all experience levels, as it lets you test new strategies without risk.
Axiory’s demo account stands out from those offered by the competition because it does not expire. By contrast, many brokers place time limits on their demo accounts. You can use Axiory’s demo account as long as you want. The broker even lets you open multiple demo accounts, which is convenient for testing several strategies at once or to determine the account type or platform that will best match your trading style.
The demo account is also fully featured, giving you $10,000 in virtual currency and your choice of USD or EUR as well as the choice of account type and trading platform. It includes full use of the indicators, EAs, and other tools, fundamental and technical analysis, and full customer support.
Islamic accounts
Whether you choose to open a Nano, Standard, or Max account, it can be a swap-free Islamic account. To open this account, start by opening a live account and then send a message to the Axiory Support Team. They should make you a new Islamic account within 24 hours.
Keep in mind that to make up for the lack of swap fees on overnight positions with Islamic accounts, Axiory charges commissions on positions that are held open overnight. These commissions are subject to change but at the time of writing are $3, $5, or $8 per lot for forex and $8 per lot for XAGUSD, XAUUSD, and CL.
Axiory trading platforms
There are three main platforms to choose from when trading with Axiory, each of which offers several alternatives. You can use either MetaTrader 4, MetaTrader 5 or cTrader as a downloadable desktop platform, a web-based trader (WebTrader or cTrader Web), or a mobile platform, available for both iOS and Android. As the various formats of MetaTrader 4, MetaTrader 5 and cTrader have nearly identical features, it is easiest to describe them as three platforms instead of the total of eight that are available, with each having four versions.
Axiory offers three trading platforms. A trading platform is simply a software interface that allows you to place trades. Trading platforms often come with charting, research, and order processing tools.
To ensure that we only recommend high-quality brokers, our reviewers have tried and tested each of Axiory’s trading platforms. When doing so, we considered a range of factors, including how easy to use the platforms are, what features each trading platform offers, and how suited each platform is to different types of traders.
MetaTrader 4
MetaTrader 4 is the industry standard for trading forex and CFDs. As mentioned, Axiory offers MT4 for desktop, as a WebTrader, or as a mobile application. The desktop version is available for Windows or Mac, and the mobile app is available for Android or iOS.
MT4 includes Expert Advisors for automated trading. You can also create your own expert advisors using the MQL4 programming language. The desktop version of MT4 also supports using the built-in MQL4 development environment as well as historical price data. Trading with Axiory on MT4 includes 99.99% order execution.
MetaTrader 4 includes more than 50 built-in indicators, including RSI, moving average, and others. You can also review the Axiory extensions for Custom Indicators and Expert Advisors, which take these features to the next level. The Expert Advisor extension includes ready-made EAs and the ability to make your own. The Custom Indicators extension also includes both ready-made ones from Axiory and the ability to make your own using MQL.
You can also benefit from the full range of features that MetaTrader 4 is known for, including a range of order types, a detailed trading history, 24 analytical objects, three chart types, and nine timeframes.
cTrader
cTrader has been around for about a decade. While it has not quite gained the following of MetaTrader, it is still an industry leader. It is also updated regularly and has a convenient cTrader ID that lets you log into all of your cTrader accounts. As mentioned, you can download it for Windows or Mac, use it in your browser via cTrader Web, or download the mobile app for iOS or Android.
The cTrader mobile application is specific to Axiory, so it is optimized to work with your Axiory account. You can access multiple order types, price alerts, advanced technical analysis tools, symbol watch lists, market sentiment indicators, news, and more. There are five types of charts views, eight chart drawings, and four chart types.
When conducting analysis with cTrader, you will find more than 60 indicators already built into the platform. The cTrader platform also includes cTrader Automate, which is an integrated function that allows automatic trading. This feature used to be called cAlgo, so you may also see it referred to by that name. It now integrates with the cTrader platform.
What is the execution policy at Axiory?
Axiory uses an STP execution model. There is no limit to the open or pending orders you can have with a restriction of 1,000 forex lots per ticket. Axiory prides itself on offering stable infrastructure to help deliver fast trading.
For transparency, you can review Axiory forex broker’s trading statistics right on its website. There are monthly charts available that show the execution time, slippage distribution, and execution time vs. slippage for whichever month you choose to select. You can view the statistics for “overall” or for one of the following nine specific assets: EURUSD, USDCHF, USDJPY, EURJPY, AUDUSD, GBPUSD, NZDUSD, GBPJPY, and USDCAD.
To provide an example, the vast majority of trades in August 2020 took between 150 and 179 milliseconds to execute. In the same month, more than 60% of slippage was positive within 0.1 pips.
Axiory markets and products
Reviewing Axiory broker’s offerings will show you a focus on forex. The broker also offers access to indices, energy commodities, and precious metals in the form of CFDs. While other brokers offer a larger selection of instruments and some offer other instrument types, most beginners and traders who focus on forex will find more than enough to diversify their portfolio.
| Instrument | Number |
|---|---|
| Currency Pairs | 62 |
| Commodities | 5 |
| Precious Metals | 4 |
| Indices | 0 |
| Stocks and Shares | 0 |
| Cryptocurrencies | 0 |
| Options | 0 |
| ETFs | 0 |
Currency pairs
Trading forex with Axiory gives you access to more than 60 currency pairs, including majors, minors, and exotics. The forex market has an estimated daily trading volume of over $6.6 trillion and is available for trading 24/5. The range of currency pairs at Axiory lets you diversify your portfolio by trading currencies from around the globe, including numerous pairs with AUD, CAD, CHF, EUR, GBP, USD, NZD, CAD, ZAR, JPY, and more.
Commodities
Reviewing Axiory’s commodities will show you that the broker currently focuses on offering energy CFDs. The prices of energy are frequently affected by environmental and geopolitical situations, leading to volatility that makes energies popular for short-term trading.
With Axiory, you can trade CL, NGAS, BRENT, CL.i, and BRENT.i. While some brokers offer more commodities, this is enough of a variety to allow for diverse strategies.
Precious metals
Precious metals are commonly viewed as safe havens when there is uncertainty, typically keeping their value even with inflation. Precious metals also have uses in technology and jewelry. Axiory lets you trade CFDs of gold or silver with leverage of up to 1:100 and CFDs of platinum or palladium with leverage of up to 1:20.
Indices
Trading index CFDs with Axiory lets you trade indices with leverage. With each index, you trade numerous underlying assets, each of which balances each other out to some extent. The DAX 30, for example, includes 30 companies from the Frankfurt Stock Exchange.
The indices offered by Axiory include those from around the world, such as HK40, DOW, SP, NSDQ, NIKKEI, ASX, FTSE, STOXX50, DAX, and CAC.
Social trading
Axiory does not offer social trading in the traditional sense. However, if your interest in social trading is for the copy trading aspect that allows for automated trading based on expert suggestions, there are some options available.
Trading signals, Expert Advisors, and cTrade Automate all provide this ability. You can use any of these tools to follow the movements and suggestions of professionals or other traders. You can also use these tools to create your own automated trading strategy and decide whether to share it with others.
Axiory research tools
Our review of the Axiory forex broker found numerous tools to help you with your trading. You will find expert analytics and advice, an economic calendar, Autochartist integration, and calculators for margin, currency, pips, swaps, and profits. There is also sentiment analysis built into the cTrader platform. Axiory also has its own proprietary tools, including the Axiory Strike Indicator and integration for Custom Indicators and Expert Advisors.
| Axiory Research Tools | |
|---|---|
| News (from top-tier sources) | Y |
| Trading Signals and Indicators | Y |
| Trade Ideas | Y |
| Expert Analysis | Y |
| Autochartist Tools | Y |
| Sentiment Charts | Y |
| Economic Calendar | Y |
Trading signals and indicators
As mentioned, MetaTrader 4 has more than 50 built-in indicators, while cTrader has more than 60. In addition to this, you can add indicators. You can also install the previously mentioned Custom Indicators on MetaTrader 4, including those provided by Axiory and those you create with MQL.
You should also review Axiory Strike Indicator, a proprietary tool that uses a sophisticated mathematical model to look at historical data and find where trends currently start. This identification gives you a head start compared to other traders. To make it easy to read and use, it is color-coded with red indicating downtrends and blue indicating uptrends.
Although Axiory does not offer anything it explicitly refers to as trading signals, the available Expert Advisors serve a similar purpose.
Trade ideas
Some of the trade ideas from Axiory come from Autochartist, as the program’s automated technical analysis identifies potential trading opportunities for you.
Other trade ideas come in the form of the Expert Advisors. The difference is that Expert Advisors execute the trades for you as well as identify them. You can use Axiory’s ready-made EAs, create them with MQL, or use EAs created by other traders and professionals.
There are also trade ideas mixed into the expert analysis on the Axiory Intelligence page, especially on the Market Alerts and Weekly Market Commentaries.
Expert analysis
For expert analysis, visit the Axiory Intelligence page and look for several types of posts. Market Alerts briefly explain a primary and a secondary view for major instruments, such as gold, EURUSD, CHFJPY, GBPUSD, and DOW.
The Weekly Market Commentary includes some similar information after a quick review of the previous week and a summary of what to expect in the current week.
Axiory also has a Technical Analysis section on its website that is updated on most trading days. It features technical analyses conducted by experts on major instruments, such as GBPUSD and USDJPY. Each analysis is in-depth and includes charts and written descriptions with figures.
Autochartist tools
The Autochartist integration with Axiory comes via a feature for cTrader or a plug-in for MetaTrader, so you can use it with either platform. By offering Autochartist for free with all account types, Axiory adds a great deal of value.
Autochartist is a recognized leader in automatically identifying trading opportunities. It includes six types of Fibonacci patterns to help you find support and resistance lines, chart patterns to find those lines, key levels, volatility analysis, and quality indicators. The last of these lets you check how reliable the information from the other tools is, displaying the information in a user-friendly manner.
Axiory customer support
Our review of Axiory found that the forex broker offers strong customer support, including multiple methods of contacting support and the ability to do so in several languages. The only thing to keep in mind is that Axiory does not offer 24/7 support, but 24/5 instead.
The following are the methods of contacting Axiory customer support:
- Live chat
- Contact form
- Email: [email protected]
- Phone (UK): +442031502506
- Representative office address: 1008 Clover Bay, Al Abraaj Street, Business Bay, Dubai, United Arab Emirates
- Registration address: No.1 Corner of Hutson Street and Marine Parade, Belize City, Belize
- Social media, including Facebook, Twitter, and LinkedIn
There are also specific support numbers for Belize, the United Arab Emirates, Singapore, Chile, and Cyprus. As the broker is still growing, Axiory also encourages clients to contact its team if there is not enough support in their region, as this helps the broker determine where to expand its resources next.
Our Axiory broker review team also appreciates the FAQ section, as it has answers to the most common questions. It would be more useful if it was expanded, though. When we contacted support, we were met with friendly staff and quick responses in a professional manner.
Axiory mobile compatibility
You do not have to worry about mobile compatibility with Axiory as both of the trading platforms offer mobile applications, which are offered for both iOS and Android. This makes it easy to trade on the go.
Additionally, Axiory’s MyAxiory lets you easily access your account from your desktop or smartphone, providing seamless access to everything on the go. You are able to register, open and verify accounts, fund your account, and place trades with ease from your smartphone or tablet.
The Axiory website has also been optimized for mobile and loads all images and information clearly regardless of the device you use.
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During this FBS review, our team will take a look at every important detail you need to know about this broker. FBS entered the trading market in 2009, and in the same year, it had already amassed 50,000 clients. The broker has an impeccable reputation, which is further enforced by CySEC, ASIC, FSCA and IFSC regulation. Offering four different asset classes and five different account types, you can kickstart a successful trading career at FBS. Moreover, any broker that is the main sponsor of FC Barcelona and with as many prestigious awards as FBS will surely live up to its reputation.
100+ tradable instruments
Reputable sponsor of FC Barcelona
CySEC, ASIC, FSCA and IFSC licenses
The best broker for high leverage trading
Certain commissions on deposits/withdrawals
FBS overall scores
In this review, you can find all the information you need to decide whether FBS is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how FBS scored in each of our high-priority categories.
Commissions & Fees – 89 Points
Payments – 92 Points
Licensing & Safety – 93 Points
Customer Service – 90 Points
Trading Platforms & Tools – 95 Points
Education – 96 Points
FBS fees and commissions
When you trade with FBS, you are liable to pay certain fees. However, as our team has discovered during this FBS broker review, the broker charges low commissions on trades and low non-trading fees too. You can also choose between fixed and variable spreads, starting from 0 pips. This transparent cost structure makes FBS perfect whether you’re a beginner or an experienced trader.
Our experts have reviewed FBS’s fees based on how they compare with the fees of other reviewed brokers. For each broker, we analyze both trading fees and non-trading fees:
– Trading fees are charged every time you place a trade. They include spreads, commissions, overnight and rollover fees, and currency conversion fees.
– Non-trading fees aren’t directly related to trading, but you should consider them as they make up the cost of using a certain broker. They include payment fees and inactivity fees.
Below you will find a snapshot of the fees charged at FBS. Our experts have created these tables based on the fees applied to a standard account. We consider a standard account to be the one that will appeal to most traders, often not the cheapest option but not a premium option either.
Trading Fees
| TYPE OF FEE | COST |
|---|---|
| Minimum Spread EURUSD (pips) | 1 |
| Commission (%) | 0% |
| Commission on Islamic Accounts (%) | 0% |
*Based on Standard account type.
Non-Trading Fees
| Account Fee | N |
| Inactivity Fees | N |
| Deposit Fees | Y |
| Withdrawal Fees | Y |
FBS trading fees
As our team has found out during this review of FBS forex broker, you will be charged certain trading fees for different instruments. To allow you to price up trading with FBS correctly, we’ve explained what costs are applied to each asset class below.
Forex fees
Spreads on currency pairs vary depending on which trading account you choose and where you’re trading from. If you are trading from outside of the EU, the standard account features floating spreads that start from 0.5 pips on forex pairs. Alternatively, you can also choose the Zero Spread account and use the full power of fixed 0 spreads – something that experienced traders will find especially useful.
Here are forex spreads for different accounts outside of Europe:
- Cent – floating from 1 pip
- Micro – fixed from 3 pips
- Standard – floating from 0.5 pip
- Zero Spread – fixed at 0 pip
- ECN – floating from -1 pip
From within the EU, you can choose between a Standard or Cent account, both of which offer floating forex spreads from 1 pip.
Metals fees
Spreads also apply to metal instruments at FBS. For the Standard account, you will be charged anywhere from 2 pips for the XAGUSD pair to 240 pips for palladium. Our FBS reviewers found that you can also enjoy low spreads on gold from within Europe, yet palladium fees rise to 420 pips.
CFD fees
With FBS, you can trade contracts for indices with competitive spreads. Minimum spreads can vary from 2 pips to 25 pips, and this remains the same no matter which country you are trading from.
Stock fees
This FBS review has shown us that the broker has very low spreads on stocks. The minimum bid-ask price difference for these instruments can go as low as 1 pip while the typical spread is around 3 pips.
FBS commissions
As noted in the table above, the Standard trading account at FBS won’t charge you commissions for round turn lots. The same can be said about Cent and Micro trading accounts – they too have 0% commissions.
However, if you choose the Zero Spread or ECN accounts (only available outside of Europe), you will have to pay a small fee to use their features. For the Zero Spread account, commissions start from 24 USD for round turn lots, whereas for the ECN account the commission is fixed at 6 USD.
Financing/Overnight Rates
When it comes to swaps, FBS charges the same overnight fees for all live account types. For CFDs and stocks, you will have fixed swaps at -1 and -0.1 respectively for both long and short positions. For forex pairs and metals, spreads vary depending on whether you open a long or a short position.
As usual, if you keep your trades open from Wednesday to Thursday, swaps will be tripled to account for the weekends when the market is usually inactive.
Non-trading fees
In addition to trading fees, FBS also charges small non-trading fees on deposits and withdrawals. When it comes to deposits, the majority of financial platforms are commission-free, yet the GlobePay and Stic Pay charge 1.5% and 2.5%+0.3 USD commissions respectively. You may also incur some charges for depositing with Perfect Money.
As for withdrawals, all payment methods feature a certain amount of commissions. The minimum commission is 0.5% for Perfect Money withdrawals, whereas the maximum commission is charged for Stic Pay withdrawals at 2.5%+0.3 USD.
All EU clients can usually enjoy fee-free deposits and withdrawals. You should note, however, that the broker reserves the right to impose a 5% commission if you make a withdrawal before trading.
FBS also does not charge any inactivity fees on its international accounts. Your account will be disabled after 90 days of inactivity, but you can simply contact the broker to reopen it. Unfortunately, if you are an EU trader, you will be charged €10 per year if your account is inactive for over 180 days.
FBS safety
At FBS, you can trade safely in the knowledge that this is a stringent broker that follows international rules and guidelines. The European branch of the broker is regulated by CySEC, one of the most reputable authorities in the world. Whilst outside of Europe you will be trading under an IFSC license (International Financial Services Commission of Belize), which is considered a lesser regulator, the CySEC license should still provide you with confidence.
FBS licenses and regulation
As noted in this review of FBS forex broker, the International Financial Services Commission (IFSC) of Belize is the main institution that regulates the broker’s activities. The legal entity that falls under that regulation is called FBS Markets, with registration No. 119717 and the license code IFSC/60/230/TS/19.
On top of that, FBS also boasts a license from the Cyprus Securities and Exchange Commission (CySEC). The broker is registered under the name of Tradestone LTD in the European Economic Area (EEA) with the license number 331/17.
Additionally, FBS has 2 more licenses from ASIC & FSCA (ASIC#426359 & IFSC#IFSC/60/230/TS/18 & FSCA #50885)
Is FBS safe?
Our review methodology considers several factors to ensure that all of our recommended brokers are safe and reputable. Alongside the number and strength of licenses, we also consider:
- What protection and/or insurance FBS offers should something go wrong
- FBS’s reputation, history, and management
FBS client protection
As a CySEC regulated brokerage, FBS offers client protection that complies with the Investor Compensation Fund rules. Unfortunately, this isn’t extended to international clients.
Our FBS review team also found that the broker offers a free negative balance protection mechanism on all account types. Thanks to this, you won’t be in danger of owing the broker any more money than you first deposited.
FBS background and reputation
FBS is very transparent about its background and history. FBS was founded in 2009 as an international brokerage under the name of FBS Markets. The address of registration was 2118, Guava Street, Belize Belama Phase 1, Belize. By the end of the same year, it already had more than 50,000 worldwide clients.
FBS has managed to distinguish itself as a high-tier forex broker, having received various awards such as the “Best mini forex-broker,” “Best forex broker Asia,” and many more.
Currently, FBS boasts 16 million traders all around the world and annual profits of around 500,000,000 USD. Not only does this prove that they are a popular and well-trusted choice, but such a huge presence within the industry indicates that they have the funds to survive economic crises and operational problems.
Luckily this review of FBS found that, as of yet, the broker has never encountered any difficulties. Our reviewing team tried to uncover any scandals or negative reviews yet there was nothing to be found. It seems that FBS has a clean reputation that is strengthened by financial statements regularly submitted to its regulators.
Opening an account with FBS
To give you a complete picture of FBS, our experts tried and tested trading. They found that the registration process is incredibly easy and quick, in comparison to most brokers of the same caliber. You can open an account from desktop or mobile and the whole procedure takes no more than 10 minutes. The minimum deposit requirements are also super-affordable, for all account types.
Is FBS available in your country?
FBS has a global reach that covers over 150 countries across the globe. This means that the chances of you being covered by the broker’s services are very high.
Some countries aren’t currently covered by FBS, however. These countries include Japan, the USA, Canada, the UK, Myanmar, Brazil, Malaysia, Israel, and the Islamic Republic of Iran.
How to open an account at FBS?
As noted earlier, creating an account at FBS is as simple as it can get. Everything is done digitally, and you don’t need extensive paperwork for the process. You just simply visit the FBS website, click the “Open Account” button, and the process will kickstart on its own. Here’s what our team encountered during this FBS review:
- Step 1
Fill in your full name and email address, verify the registration in your mailbox, and create a password.
- Step 2
Select the account type you want to create.
- Step 3
Choose the trading software, base currency, the maximum leverage.
- Step 4
Proceed to the Personal Area, confirm your phone number, and read and accept 4 disclosures (client agreement policy, execution policy, conflict of interest policy, risk acknowledgment).
- Step 5
Go to the Confirm Identity section and provide ID/password number, date of birth, and photo scans of the ID document and a utility bill. EU traders will also need to complete a small survey before trading.
As a way to make the registration process easier, FBS also allows you to open an account via Facebook or Google. This means you don’t need to spend time filling in as many personal details and can start trading with FBS faster.
What you will need to open an account
To create an account with FBS as quickly as possible, have the following information to hand:
- Personal information – Full name, email address, phone number, and tax/ID number
- Regulatory information – EU traders must provide details of their employment, net income and wealth, trading aims and trading experience
- Documentation – Proof of identity (photo scan of your government-issued identification card/passport/drivers license) and proof of address (this can be a recent utility bill which displays your name, postal address, and the date)
To open an account with FBS, you’ll need to provide proof of identity and proof of address. This process allows FBS to meet KYC (Know Your Customer) guidelines. KYC guidelines keep you safe and stop the broker from accidentally facilitating illegal practices such as money laundering.
What is the minimum deposit at FBS?
In this FBS review, our team has found out that the minimum deposit required to open a real trading account is 1 USD. Here’s a more detailed list of deposit requirements for individual accounts:
- Cent – 1 USD
- Micro – 5 USD
- Standard – 100 USD
- Zero Spread – 500 USD
- ECN – 1,000 USD
It is also important to note that the European branch of FBS has different minimum deposit requirements:
- Cent – 10 EUR
- Standard – 100 EUR
FBS payment methods
FBS supports many financial platforms for deposits and withdrawals, allowing you to fund your account in a way that’s convenient and familiar. Alongside debit/credit card payments, FBS also accepts various international e-wallets and localized solutions. Transactions are fast too, taking around 15-20 minutes to complete, which is quicker than most other brokers. The base currencies for the majority of these methods are USD and EUR, with JPY for bitwallet payments.
FBS account types
As our team has discovered within this FBS forex broker review, there are five live account types to choose from. These accounts fit the needs of traders with different experiences, whether they’re veterans or beginners. FBS’s European platform features only two live accounts, Cent and Standard, but these are also designed to suit all skill levels. In the table below, our team of reviewers has compiled all the accounts and their conditions.
Demo accounts
FBS also offers you free demo versions of all account types. These accounts can be funded with however much virtual money you want, up to a maximum of 1 million USD. As this is a much larger virtual balance than offered at many other brokers, our reviewers think this makes FBS perfect for beginners and traders who want to test multiple strategies.
Islamic accounts
FBS allows Muslim clients to trade in Sharia-compliant conditions. With an Islamic account at FBS, you won’t be charged overnight interest fees or swaps. You can request a swap-free version of each account type we’ve listed above, besides the ECN account, however, you won’t be able to trade exotic forex pairs and CFDs. To activate this account, you have to contact the support team and provide proof of your Muslim faith. Besides swaps, the conditions are the same as they are with regular accounts.
FBS trading platforms
The FBS broker supports two of the most popular trading platforms – MetaTrader 4 and 5. These platforms are available for Windows, Mac, web browsers, and many other platforms. What’s more, FBS also features a proprietary mobile trading platform that works on both iOS and Android systems.
FBS offers three trading platforms. A trading platform is simply a software interface that allows you to place trades. Trading platforms often come with charting, research, and order processing tools too.
To ensure that we only recommend high-quality brokers, our reviewers have tried and tested each of FBS’s trading platforms. When doing so, they considered a range of factors including how easy the platforms are to use, what features each trading platform offers, and how suited each platform is to different types of traders.
FBS Trader
During our review of FBS forex broker, we tried out the proprietary trading platform, FBS Trader, which works with Android mobile devices.
This platform is perfect for FBS clients who want to trade on the go, as it supports over 50 instruments, including currency pairs, metals, CFDs, and stocks. It comes complete with real-time stats and market developments, as well as allowing stop-loss and take-profit orders. Do note, however, that you cannot use EAs or robots FBS Trader.
Overall, this is a very easy-to-use platform that protects your credentials and allows you to trade and manage your account wherever you are.
MetaTrader 4 and 5
As noted above, FBS also supports both MetaTrader platforms. With these platforms, you gain access to diverse charting methods, drawing tools, indicators, and even VPS service. These platforms are also a great choice if you want to use automated trading bots.
MetaTrader 4 supports 41 different instruments, including currency pairs, CFD, and metals. MetaTrader 5 also supports the 67 stocks offered by FBS. As a MetaTrader trader, you can access the MLQ5 community and free trading signals that are updated quite frequently.
Like the FBS Trader platform, you can also place stop-loss and take-profit orders, which is a very useful feature. On top of that, with MT5 you can place more advanced types of orders. All in all, you cannot go wrong with these pieces of trading software at FBS.
Mobile trading
As our team has found out during this review, FBS enables you to use MT4 and MT5 on your smartphone alongside its own FBS Trader platform. Both MetaTrader platforms are available on both Android and iOS devices, whilst FBS Trader is currently limited to Android devices only.
What is the execution policy at FBS?
The execution policy at FBS is one of the best in the industry. FBS focusses on providing real-time asset prices and allowing you to execute trades within a split-second. In fact, 95% of trades are executed within 0.5 seconds.
By registering at FBS, you get the ability to place various order types, such as market orders and stop orders. FBS is also a non-dealing desk (NDD) broker, which means it doesn’t go against its traders and there are no requotes. Additionally, you can choose the ECN platform and make the most out of tight spreads and live price quotes.
For most account types, the maximum number of open positions is 200. The ECN account, however, has no limitations. The maximum order size at FBS is 500 lots. On top of all that, FBS also features the fractional pip pricing at the fifth decimal point.
FBS markets and products
Depending on your account type and jurisdiction, you can trade 75 instruments across five asset classes. This includes popular and exotic forex pairs, energy and index CFDs, stocks, and metals. Our FBS reviewers were happy to find that the broker offers 5 cryptocurrencies, alongside the inclusion of precious metals and indices which gives you further opportunities to diversify and protect your portfolios.
| Instrument | Number |
|---|---|
| Currency Pairs | 35 |
| Commodities | 35 |
| Precious Metals | 4 |
| Indices | 2 |
| Stocks and Shares | 33 |
| Cryptocurrencies | 0 |
| Options | 4 |
| ETFs | 0 |
Forex pairs
Currency pairs are among the main tradable instruments at FBS. In total, there are over 190 major, minor, and exotic forex pairs from 150 countries offered by the broker. It is worth noting, however, that EU clients only have access to 28.
Precious metals
When it comes to precious metals, FBS offers four of them on its platform: Palladium, Platinum, Silver (XAGUSD), and Gold (XAUUSD). The maximum lot size for silver is 5,000, while the rest max out at 100 lots.
Indices
You can trade indices as Contracts for Difference (CFDs) at FBS. Our team found 11 symbols on the website; DAX30, NASDAQ, S&P 500, WTI Crude Oil, Dow Jones andd mnore. Currently, you cannot trade these indices within the swap-free account.
Commodities
Although FBS does not have a designated commodities section of its website, our reviewers found that energies are also offered as CFDs at FBS. At the moment, however, there are only two instruments available (Brent Crude Oil and WTI Crude Oil) which is far fewer than other brokers.
Stocks and shares
If you want to trade stocks from major companies such as eBay and Tesla, then you’ll be happy to know that FBS boasts 32 different options, all with typical spreads of 3 pips. This gives you a great opportunity to trade with the news and with company news and releases.
Unfortunately, stocks are not currently available to European traders and are only available on Cent and Standard international accounts.
Social trading
At FBS, you can also choose CopyTrade to benefit from social trading. This feature works for Standard and Micro account types that are verified with a balance of 100 USD or more. After setting it up, CopyTrade will connect you with a huge community of experienced traders. You can copy or observe these traders to increase your success rate
FBS Group research tools
Market analysis and research take a special place at FBS. The broker offers various tools and features, such as an economic calendar, daily market analysis, and multiple calculators to help you stay ahead of the curve and make more informed trading decisions. You can also take advantage of Forex TV, a video channel with quick and informative market overviews and trade ideas.
FBS Research Tools
| News (from top-tier sources) | Y |
| Trading Signals and Indicators | Y |
| Trade Ideas | Y |
| Expert Analysis | Y |
| Autochartist Tools | N |
| Sentiment Charts | Y |
| Economic Calendar | Y |
Market news
Providing detailed and specific information about market developments is one of the main tasks of FBS. Within this FBS forex broker review, our team came across a news section that spans all available asset classes. You can get updates about developments in forex, commodities, stocks, and the economy as a whole. News is available both in text and video form, and you can get updates on the go via the FBS Trader app.
Trading signals and indicators
FBS also features a pretty extensive forex signals department. The broker gives you access to in-depth signals, which analyze economic developments that will ultimately affect asset prices. Alongside signals, there are various indicators and tools like the forex calculator and currency converter. These help you to measure the specific trade size that you need to open and contribute to the process of technical analysis.
Trade ideas
Trade ideas also fall into the broker’s offerings. FBS’s expert analysts and experienced traders offer their takes on various market developments and suggest some ways for you to make a profit out of them. Again, these are offered in both video and text format.
Expert analysis
Expert analysis at FBS can be found within all of the research mentioned above. Disappointingly, however, the broker does not specify which experts are offering their advice. This leaves something to be desired; our FBS review team would have appreciated knowing something about the trading experience and education of their analysts.
FBS customer support
Customer support is at its finest at FBS. The broker offers two main ways of contact, the live chat, and scheduled callback. Various social media platforms also facilitate broker-client interaction, including Telegram and Facebook Messenger. In this FBS broker review, our team had to contact the broker a couple of times and the response came immediately, which is very appreciated.
Here are the ways in which you can contact FBS:
- Email: [email protected]
- Callback
- Live chat that is directly accessible on the website
- Telegram FBS Bot
- Facebook Messenger
Email support
The first contact method at FBS is email support. You can directly send a mail to [email protected] and get a fairly quick response from the broker. It’s worth noting, however, that compared to other support methods, email is probably your slowest option. That said, slower response times are compensated by competent and helpful answers.
Callback
The callback feature at FBS allows you to schedule a chat with a support agent or your account manager. You can request that they call at a specific time of the day too, making this a convenient choice. To use the callback feature, you simply need to enter your number, email address, a small message for the operator to respond to, and the exact time you want them to contact you. The support team is very helpful, competent, and punctual.
Live chat
During the following FBS review, our team has found that the live chat feature is the easiest way to contact the FBS broker. You just press the “Help” button at the very bottom-right corner of the screen and the chatbot will automatically activate. What’s good about this form of communication is that the operator enters the chat immediately, therefore, you don’t need to wait for more than a couple of seconds for your answer. The answers themselves are valuable and easy to understand.
Social media: Telegram and Messenger
You can use various social media platforms to contact FBS. With Telegram and Messenger chats, you can engage in communication with FBS, just like you would with the broker’s Live Chat service. Answers here are equally useful and quick and you get the added benefit of using a familiar app.
FBS mobile compatibility
The FBS’s website is accessible from within your mobile browser. The experience there is almost identical to on desktop: you get the same sections, same functionality, and even the ability to contact the customer support. All of FBS’s trading platforms are mobile compatible too and you can register and fund your account wherever you are.
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With multiple licenses from top-tier regulatory bodies, our XM Group review reveals a respected and reliable broker with over a decade of experience. Launched in 2009, XM Group is a great choice for all types of traders as it offers a wide range of instruments, extensive research tools, and five different account types. XM Group has also won multiple awards, including ‘Best FX Broker for Europe 2020’.
1,200+ available instruments
Free educational materials
Licensed by FCA
Best broker for forex trading beginners
Only supports MT4 and MT5
XM Group overall scores
In this review, you can find all the information you need to decide whether XM Group is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how XM Group scored in each of our high-priority categories.
XM Group fees and commissions
Our XM Group review team found that this broker outrivals others when it comes to fees and trading costs. XM offers competitive spreads on forex, low trading fees for CFDs, and low non-trading fees. This low-cost approach makes this broker ideal if you are a veteran trader, who tends to trade with more volume or a beginner who is just starting out.
Our experts have reviewed XM Group’s fees based on how they compare with the fees of other reviewed brokers. For each broker, we analyze both trading fees and non-trading fees:
– Trading fees are charged every time you place a trade. They include spreads, commissions, overnight and rollover fees, and currency conversion fees.
– Non-trading fees aren’t directly related to trading, but you should consider them as they make up the cost of using a certain broker. They include payment fees and inactivity fees.
Below you will find a snapshot of the fees charged at XM Group. Our experts have created these tables based on the fees applied to a standard account. We consider a standard account to be the one that will appeal to most traders, often not the cheapest option but not a premium option either.
The XM Group broker review shows:
Trading Fees
| TYPE OF FEE | COST |
|---|---|
| Minimum Spread EURUSD (pips) | 1 |
| Commission (%) | 0% |
| Commission on Islamic Accounts (%) | 0% |
*Based on Standard account type.
Non-Trading Fees
| Account Fee | N |
| Inactivity Fees | Y |
| Deposit Fees | N |
| Withdrawal Fees | N |
XM Group trading fees
XM Group offers variable spreads on all instruments as standard, and fractional pip pricing to the fifth digit. Whilst this means that the trading fees with XM Group are often much lower than with competitors, and you’ll enjoy the most accurate quoting possible, it also means it is important to consider the fees of each instrument separately. Below our experts have outlined how fees are applied to each asset class so that you can correctly calculate how much your trades would cost.
Forex
When trading forex, you’ll benefit from low fees. With a standard account, your fees are incorporated into the spread, which can be as low as 0.00016 pips. On average, however, our XM Group review found that spreads are around 1 pip on all major currency pairs.
If you’re looking for tighter spreads, you can opt for a Zero Account. Here, spreads average 0.1 pips on major pairs, but you will be charged a $3.5 commission fee per side, per $100,000 traded.
Stock CFDs
Stock CFDs at XM Group have different spreads depending on the stock itself. The lowest out team was able to find was 0.012 pips and the highest was 6.91 pips. Commissions here depend on which stock market you’re trading on. There is a 0.1% commission on the UK, French and German markets and a 0.04% commission on US markets. You’ll also incur some charges if you are selling a dividend stock. This is calculated as such; ‘stock dividend declared x lots x contract size’.
Commodities
When conducting the review of XM Group forex broker fees, our team found that commodities have a minimum spread of 0.0009 and a maximum of 15 pips.
Equity indices
Equity indices come with a minimum spread of 0.6 and a maximum of 18 pips depending on the asset itself.
XM Group commissions
With a standard account, you won’t be charged any commissions when you trade with XM Group. Commission fees are, however, applied to both Zero Accounts and Shares Accounts. Only non-EU clients can open a Shares Account.
Overnight rates
XM Group charge rollover interest fees on positions that are held overnight. Fees are credited on positions that are left open after 22:00 GMT and, for any position left open during a weekend, our reviewers found that XM applies a 3-day rollover charge on Wednesdays.
For forex trades, the rollover fee depends on what kind of position is being taken (i.e. long or short) and the difference of rates between the currencies within the pair. With stocks and stock indices, the fee depends on whether a long or short position has been taken. Futures products, which have an inherent expiry date, are not subject to overnight charges.
To calculate the rollover rates for FX and precious metals, you need to use the tomorrow-next day charged amount, the XM markup, and the general condition of the assets themselves. The formula looks like this:
Trade size x (+/- tom-next rate – XM markup)
With stocks and stock indices, the formula looks like this:
Trade size x closing price x (+/- short term interbank rate – XM markup)
Non-trading fees
Our XM review also found that the broker charges a comparatively low inactivity fee of $5 a month. This is only charged if there is no activity on your account for 90 days, and you have a free balance of less than $5. If the account a balance of $0, then no charges will be imposed.
XM Group safety
Our XM Group reviewers are happy to report that this broker is licensed and regulated by several top-tier financial institutions, including the FCA, ASIC, and CySEC. XM also offers investor compensation and boasts a great reputation and history. Overall, this makes XM highly trustworthy and secure.
XM Group licenses and regulation
Our expert reviewers found that XM Group is highly compliant with regulations in many jurisdictions around the world. We checked the authenticity of the licenses stated on the broker’s website to make sure they were still active. Here’s what we found.
XM Group is currently licensed and regulated under these trading names by the following bodies:
- Trading Point of Financial Instruments UK Limited with the UK Financial Conduct Authority (FCA), under license no. 705428
- Trading Point of Financial Instruments Limited with the Cyprus Securities and Exchange Commission (CySEC), under license no. 120/10
- XM Global Limited with the International Financial Services Commission of Belize (IFSC), under license no. 60/354/TS/19
- Trading Point of Financial Instruments Pty Limited with the Australian Securities and Investments Commission (ASIC) under license no. 443670
- Trading Point MENA Limited with the Dubai Financial Services Authority (DFSA), under reference no. F003484
Is XM Group safe?
Our review methodology considers several factors to ensure that all of our recommended brokers are safe and reputable. Alongside the number and strength of licenses, we also consider:
- What protection and/or insurance XM offers should something go wrong
- XM’s reputation, history, and management
XM Group client protection
Our reviewers of XM Group were pleased to find that the broker offers investment protection to the majority of clients. As XM Group operates under several trading names with different regulators, however, the protection offered changes depending on which arm of XM you decide to trade with.
In the table below, you can find the details of what protection you will benefit from.
Client Protection
XM Group also has a strict segregated accounts policy. Your funds are stored in separate accounts at top-tier financial institutions and are inaccessible to the company for anything other than your requested trades. This policy, paired with comprehensive investor insurance, means that if the broker was to become insolvent, your capital would be completely secure.
XM Group provides negative balance protection on all leveraged products, proportionate to the size of the customer’s account. Your personal data is also protected and will never be shared for commercial purposes.
XM Group background and reputation
As part of our XM Group forex broker review, we investigated the background of the company and its owners. XM Group was first founded by Constantinos Cleanthous under the name Trading Point Group. Since then, Tasos Anastosiou has taken up the role of CEO, and Ilias Mavrommatis is the company’s Managing Director. Our experts were happy to find this information is readily available, as it shows that the company is transparent.
Since launching in 2009, XM Group has received dozens of awards. This includes being votes ‘Best FX Broker for Europe 2020’ by World Finance Magazine.
As per regulatory requirements, XM Group is also subject to quarterly audits and must submit financial statements. In some jurisdictions, such as the UK, you can view these files online. Again, this shows that XM Group is honest and upfront about its operations.
XM Group was founded in 2009. Such a long history proves that this is a credible broker to trade with. Since launching, the broker has also received dozens of awards and never suffered any scandals. Overall, XM Group is one of the most trustworthy companies in the industry.
Opening an account with XM Group
Registering for a trading account with XM Group is a simple process, which you can complete from either mobile or desktop. The minimum deposit amount is accessible for all types of trader, and our XM Group review team were happy to find that the broker doesn’t require any unexpected documentation.
Is XM Group available in your country?
Thanks to XM’s multiple licenses, the broker can provide services to clients from all over the world. There are some restrictions that even XM could not overcome, however, and this includes not offering accounts to residents of the USA, Canada, Israel, and Iran amongst others.
How to open an account at XM Group
To create an accurate and reliable XM broker review, our expert team registered and opened a new trading account. Including the downloads and email confirmation, the process took around 6 minutes, which is far quicker than many competitors.
The whole registration process is digitalized, which means you needn’t worry about mailing documentation to the broker. To open an XM Group account, simply follow the steps below.
- Step 1
Go to the XM Group homepage and select the “Open an Account” button in the top-right corner
- Step 2
Fill in personal details, including name, email address, country of residence, preferred language and phone number
- Step 3
Select which XM Group entity you wish to trade with (only for EU traders, choose between XM CY or XM Global) and select your trading platform (choose between MT 4 and MT5)
- Step 4
Supply the broker with your date of birth and address (this should be the same as it will appear on your supporting documentation). Verify whether you are a US citizen for tax purposes, choose your base currency and your leverage
- Step 5
Answer questions about employment status, capital, trading aims, and trading experience
- Step 6
Create a password, accept terms and conditions and select the “open real account” button
- Step 7
Download and open the trading platform software and log in with your new XM credentials
What you will need to open an account
Although the registration process is quick and straightforward, there are some details you’ll need to know before beginning the process. What’s more, to start trading, you’ll also need to verify your email address and validate your account by supplying documentation.
To make this as easy as possible for you, our XM Group reviewers have compiled a list of everything you will need:
- Personal information – Email address, phone number, date of birth, personal address, social security number (NI number for UK traders), level of education, employment details
- Regulatory information – Tax residency details, intended invested amount, estimated income and net worth in USD, trading aims and knowledge, P.E.P disclosure
- Documentation – Proof of identity (valid passport, driver’s license or official country ID), proof of address (recent utility bill or bank statement)
To open an account with XM Group, you’ll need to provide proof of identity and proof of address. This process allows XM Group to meet KYC (Know Your Customer) guidelines. KYC guidelines keep you safe and stop the broker from accidentally facilitating illegal practices such as money laundering.
What is the minimum deposit at XM Group?
The minimum deposit to open an account with XM Group varies depending on your location and which account type you choose. Below, you can find the minimum deposit amounts of each account type and where they are applicable:
- Micro Account (all countries) – 5 USD
- Standard Account (all countries) – 5 USD
- Zero Account (only EEA clients) – 100 USD
- XM Ultra-Low Account (not available for EEA clients) – 50 USD
- Shares Account (only non-EEA and non-Australian clients) – 10,000 USD
XM Group payment methods
At XM Group you can expect quick and easy payments, no matter how much you wish to deposit. The broker supports a wide range of traditional payment methods, as well as modern e-wallet solutions and bitcoin funding. To cater to all types of traders, XM also allows you to choose between 11 account base currencies; EUR, USD, GBP, CHF, JPY, AUD, RUB, PLN, HUF, ZAR or SGD.
Withdrawals at XM Group are relatively quick in comparison to competitors. All cash out requests are processed within 24 hours, except for bank transfers. There are also no fees on any payments, aside from if you choose to deposit/withdraw under $200 via bank transfer.
Payment Methods
XM Group account types
XM Group offers five different account types for you to choose from, depending on your country of residence. Our XM Group broker review team found that each account type is suitable for different budgets and trading aspirations. In the table below we’ve highlighted the main features of each account type and where it is available so that you can compare them with ease.
Account Types
*Maximum leverage for EU clients is 1:100
**Maximum leverage for Australian clients is 1:500
Demo accounts
XM Group offers a variety of demo accounts to all clients. If you are trading with the EU arm of XM, you can open a Standard demo account or a Zero demo account. If you are based in Australia or another country, you can enjoy a Standard demo account or an Ultra Low demo account. All demo accounts boast the same features as their real-money counterparts. This gives you a great opportunity to decide which account type is best for you.
All demo accounts at XM Group boast the same features as their real-money counterparts and allow you to practice with up to $5,000,000 of virtual cash.
Our XM Group review team found that whilst XM advertises that all demo accounts come with a starting balance of $100,000, you can actually practice with up $5,000,000 of virtual cash. If a demo account is not used for 90 days, however, it will be automatically terminated.
Islamic accounts
XM Group offers Muslim traders the ability to convert any of the account types mentioned above into Islamic accounts. Our XM Group reviewers were pleased to find that, to ensure these accounts are 100% Sharia-compliant, the broker not only removes swap-fees but doesn’t charge any extra fees either.
Occasionally, lesser brokers simply widen the spreads or add commissions Islamic accounts to make up for the lack of swap fees. This isn’t the case at XM Group, which means Muslim clients can trade in confidence.
To open an Islamic account with XM, our review team found that you’ll first need to follow the standard account opening process. Once your account is verified, you can request to change your account to an Islamic one by logging into the Members Area.
You shouldn’t need to provide the broker with proof of religion, but you should not have conducted any trades conducted on the account before requesting the change. XM Group also retains the right to revoke the swap-free status of your account if they believe you are violating the terms.
XM Group trading platforms
When trading with XM Group, you can choose between the ever-popular MT4 or MT5. The broker supports mobile versions of each platform and, if you don’t wish to download any software, you can also use the efficient WebTrader version. Overall, this gives you convenient trading solutions at all times and access to a wealth of great charting and research tools.
XM Group offers 2 trading platforms. A trading platform is simply a software interface that allows you to place trades. Trading platforms often come with charting, research, and order processing tools too.
To ensure that we only recommend high-quality brokers, our reviewers have tried and tested each of XM’s trading platforms. When doing so, they considered a range of factors including how easy the platforms are to use, what features each trading platform offers, and how suited each platform is to different types of traders.
Below, our XM Group broker review experts have highlighted the main features of each available trading platform.
MetaTrader 4
MetaTrader 4 is one of the most popular trading platforms around. With XM Group, you can use MT4 to trade forex, commodities, equity indices, precious metals, and energies. The only instruments which aren’t supported are stock and share CFDs.
MT4 supports robots and scalping and is incredibly easy to use. In addition to allowing you to customize the look of your charts, you can also set up over 50 different trading indicators and signals. Considering this, our XM review found this platform to be perfect for both beginners and veterans.
If you choose to use MetaTrader 4 when trading with XM Group, you can place four different types of orders; market orders, limit orders, stop orders, and trailing stop orders.
MetaTrader 5
MetaTrader 5 is, essentially, a slightly enhanced version of MT4. The main advantage of using this platform at XM Group is that it supports stock and share CFD trading. In terms of trading signals, order types, and charting tools, you can expect the same high-quality features as MT4.
Whilst most XM Group clients can choose between using MT4 and MT5, if you hold a Shares account you will be trading via MT5.
XM Group mobile platforms
Although there is no exclusive mobile trading software available, all XM Group account holders can use the mobile app versions of MT4 and 5 to enjoy smooth and secure trading on-the-go. These platforms are compatible with both iOS and Android devices and can be downloaded as native apps.
To complete this XM Group broker review, our team downloaded both mobile apps and tested their security features. We were disappointed to find that we could log in to the trading platform without two-step verification, but happy to find that this security feature was needed to make deposits and withdrawals. Overall, the mobile security features at XM could be somewhat safer.
What is the execution policy at XM Group?
Our reviewers were impressed with XM Group’s execution policy. Although they are a market maker broker, they have variable spreads and fractional pip pricing. This enables them to offer real-time execution and no requotes.
The XM Group execution policy is well respected and, since being put into practice in 2010, they have had no rejection of orders and no requotes at all. Our review of XM Group discovered that 100% of orders with this broker are executed, and 99.35% are executed within 1 second.
As an XM Group client, you can open up to a maximum of 200 positions at any one time (including pending orders). Orders of up to 50 lots (5 million) can be filled with a simple click. If you want to trade larger quantities, you can either trade via phone or split the order into smaller sizes.
XM Group markets and products
XM offers over 1000 trading instruments in 6 different asset classes, which makes it the perfect choice if you are looking to diversify your portfolio. XM also offers you the unique ability to purchase company shares as well as stock CFDs, giving it a definite edge over other brokers.
| Instrument | Number |
|---|---|
| Currency Pairs | 57 |
| Commodities | 13 |
| Precious Metals | 4 |
| Indices | 30 |
| Stocks and Shares | 1184 |
| Cryptocurrencies | 0 |
| Options | 0 |
| ETFs | 0 |
Currency pairs
There are 57 currency pairs offered on XM. This includes all major pairs, minor pairs, and exotic pairs too. This gives you a chance to trade currency pairs you may not find elsewhere, such as AUD/NZD or EUR/HUF.
Commodities
XM Group offers 8 commodities and 5 energy CFDs. This is great news no matter what type of trader you are, as commodity trading offers something for everyone. Beginners will benefit from small lot sizes and low deposit amounts, whilst oil is ideal for day traders looking for fast market movements.
Precious metals
In addition to offering the two common precious metal CFDs (Gold and Silver), our review team was happy to see that XM Group also allows you to trade Palladium and Platinum CFDs.
Indices
If you enjoy trading indices, then we think you’ll be more than impressed by XM Group’s offerings in this area. They offer the option to trade 30 equity indices, including 18 cash indices CFDs and 12 futures indices CFDs. This includes major indices such as Nasdaq, FTSE 100, and Nikkei 225.
Stocks and shares
Our XM Group review team counted almost 1,200 stock CFDs on offer. These come from 17 different countries: the USA, the UK, Germany, France, the Netherlands, Belgium, Switzerland, Spain, Greece, Italy, Portugal, Norway, Finland, Sweden, Austria, Australia, and Russia. As such, you should be able to always find stocks that suit your interests and trading style.
When it comes to shares, XM Group offers 100 shares from the US, UK, and German companies. This includes large brands such as Amazon, Siemens, and Volkswagen. This variety is great for beginner traders, as well-known brands are slightly easier to get involved in.
XM Group research tools
This section of our XM Group broker review looks at the available research tools. Our experts were not disappointed, as XM offers an array of research tools to ensure you get the most from your trades. The broker offers analytical video content, created by an in-house team of trading experts, as well as trading signals, economic calendars, news, and technical analysis. Compared to other brokers, XM Group’s tools stand out due to their clear and intuitive nature.
XM Group Research Tools
| News (from top-tier sources) | Y |
| Trading Signals and Indicators | Y |
| Trade Ideas | Y |
| Expert Analysis | Y |
| Autochartist Tools | Y |
| Sentiment Charts | Y |
| Economic Calendar | Y |
News
XM Group offers a comprehensive news feed on both their ‘Markets’ and ‘News’ pages. Created by the broker’s professionals, the news feed offers important updates on all markets and summaries of information taken from credible sources. Our reviewers particularly liked the fact that news is categorized by product type, and that there is video content available too.
Signals and indicators
XM Group clients can use trading signals and technical indicators created by industry guru, Avramis Despotis. These signals cover 10 financial instruments and are released twice a day. You can also access MQL5 signals via the MT4 and MT5 platforms.
Trade ideas
The Trade Ideas tool at XM Group offers you sentiment analysis, where you can see whether people are mostly bullish or bearish on a currency pair. This insight is provided by Autochartist, one of the industry’s most respected analytics companies.
Expert analysis
In addition to using the trading signals and technical indicators created by XM Group’s team of market professionals, XM clients can also benefit from expert technical analysis articles. Here you can learn more about recent trends through the lens of common indicators, such as RSI and Fibonacci.
XM Group customer support
You can contact customer support at XM via phone, email, or live chat. All three of these services are offered in 25 different languages, so you will likely get a native speaker to help out with your problem. XM tries to be as fast as possible with its customer support, but with 2,500,000 million customers and many others sending requests daily, some issues are to be expected.
There are three ways you can get customer support with XM. These are:
- Phone: +501 223-6696
- Email: [email protected]
- Live chat: available 24/7
Phone support
You can contact customer support at XM Group by phone, 24/5. When we called XM during this review, it took us about 10 minutes to get through to an operator. This included waiting time, choosing a support language, and being directed to the correct department. Compared to other brokers, this is quite fast, yet 10 minutes is still inconvenient if you need help immediately.
Email support
When our experts emailed XM Group support, they expected an answer within 24 hours. Unfortunately, the responding email came after around 3 days and it took a further 2 days for their follow-up questions to be answered. If you require urgent help when trading with XM Group, our reviewers recommend avoiding email support.
Live chat
The live chat feature at XM Group is the superior customer support option. This service is incredibly fast, and there is little to no waiting times. The live chat agents are friendly and knowledgeable, and you can access the service on desktop and mobile.
XM Group mobile compatibility
XM is designed for traders on the go. During this XM Group broker review, our experts trialed the mobile version of the broker and were impressed. On a mobile device, you can access all of the same features as from desktop and you’ll find the site is easy to navigate and fast to load.
In addition to offering mobile versions of MT4 and MT5, XM Group also offers its educational materials on mobile. Customer support is always accessible in the bottom right corner of your screen, and it’s even possible to log into your account for both deposits and withdrawals.
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Our review of FXTM confirms that this is a highly reputable broker with a strong background and a wide variety of trading opportunities. FXTM entered the industry in 2011 and has since gained licenses from four top-tier authorities. The broker stands out with an average client approval time of less than 12 minutes, 84% of funds processed within five minutes, and a high customer approval rating. FXTM has also earned numerous awards over the years, named Best Investment Broker from FX Daily Info to Best Trading Experience from the World Finance Awards, both in 2019.
- Trade more than 250 instruments, including forex and stocks
- Benefit from an intuitive copy trading platform
- Licensed and regulated by the CySEC, FSCA, FCA, and FSC
- Best broker for its selection of trading tools
- Does not accept clients from 8 countries
FXTM overall scores
In this review, you can find all the information you need to decide whether FXTM is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how FXTM scored in each of our high-priority categories.
FXTM fees and commissions
Our FXTM review team found that this broker has highly competitive trading and non-trading fees. Most account types at FXTM carry no commissions and offer low spreads on all instruments. There no deposit fees with this broker either, however, you will pay a small fee for using some withdrawal methods. Although FXTM does charge inactivity fees, at $5 these are lower than competitor rates and are not applicable until after six months of inactivity.
Our experts have reviewed FXTM’s fees based on how they compare with the fees of other reviewed brokers. For each broker, we analyze both trading fees and non-trading fees:
– Trading fees are charged every time you place a trade. They include spreads, commissions, overnight and rollover fees, and currency conversion fees.
– Non-trading fees aren’t directly related to trading, but you should consider them as they make up the cost of using a certain broker. They include payment fees and inactivity fees.
Below you will find a snapshot of the fees charged at FXTM. Our experts have created these tables based on the fees applied to a standard account. We consider a standard account to be the one that will appeal to most traders, often not the cheapest option but not a premium option either.
The following table outlines the fees for Standard accounts:
| Trading Fees* | |
|---|---|
| TYPE OF FEE | COST |
| Minimum Spread EURUSD (pips) | 1.2 |
| Commission (%) | 0% |
| Commission on Islamic Accounts (%) | 0% |
*Based on Standard account type.
| Non-Trading Fees | |
|---|---|
| Account Fee | N |
| Inactivity Fees | Y |
| Deposit Fees | N |
| Withdrawal Fees | Y |
FXTM trading fees
It is no small feat to review the FXTM forex broker’s trading fees as there are six main account types, and each has a different set of fees. As mentioned, most accounts do not charge commission and instead make a profit for FXTM via spreads.
The following outlines the minimum spreads for each account type as well as commissions, where applicable:
- FXTM Standard Accounts have spreads from 1.3.
- FXTM Cent Accounts have spreads from 1.5.
- FXTM Shares Accounts have spreads from 0.1.
- FXTM ECN Accounts have spreads from 0.1 and commissions of $2 per lot.
- FXTM ECN Zero Accounts have spreads from 1.5.
- FXTM Pro Accounts have spreads from 0.0.
To give you a better idea of the spreads charged on various asset classes, we’ve created the following snapshot of minimum spreads across all account types:
- Forex: EUR/USD from 0.1, GBP/USD from 0.3, AUD/CAD from 2.5, EUR/HKD from 2.9
- Stocks CFDs: Apple from 17, BP from 2, Google from 130
- Stock trading: Apple from 2, Amazon from 21
- Spot metals: XAGEUR from 7.0, XAGUSD from 0.4, XAUUSD from 9.0
- European stock CFDs: Adidas from 19, Bayer from 4, Deutsche Post AG from 2
FXTM commissions
Only ECN accounts carry commissions at FXTM. Here, the broker makes up for low spreads with $2 commissions per round. This is a very low commission compared to other brokers, and it is less than half of the amount some competitors charge.
Financing/overnight rates
If you review the FXTM broker’s overnight rates, you will notice that they are around average. To help you make a decision regarding your trades and to provide transparency, you can see the rates on the Contract Specification page of the FXTM website without logging in.
The following are some examples of swap rates from FXTM:
- EUR/USD: -0.02 short and -0.77 long
- GBP/USD: 0.02 short and -0.76 long
- AUD/CAD: -0.37 short and -0.33 long
- EUR/HKD: 0.82 short and -07.7 long
Overnight rates are settled on the second working day after the deal, between 23:59:45 – 00:00:00 (EET) from Monday to Friday. Any orders held overnight from Wednesday to Thursday are charged triple, to include weekend fees when the market is closed.
Non-trading fees
There are no general account fees associated with FXTM, but the broker does charge an inactivity fee. Our FXTM review team found that this inactivity fee is highly competitive at just $5 per month. Additionally, FXTM does not consider an account inactive until it has had no trading activity for six consecutive months. As such, the broker not only has a lower inactivity fee than most competitors, but FXTM also waits longer than most competitors to begin charging it.
There are no deposit fees with FXTM, however some withdrawal methods to carry fees:
- FasaPay: 0.5%
- Africa Local Solutions: 1 USD
- Latin America Solutions: 3.2% in Brazil, 1% + 1 EUR in Mexico
- South East Asia Online Banking: 1.4%
- Online Banking Malaysia: 2%
- Online Banking Indonesia: 2%
- Nganluong: 1.1% + 0.05 USD
- Online Banking Vietnam: 2%
- Visa, MasterCard, or Maestro: 2 EUR/3 USD/2 GBP
- Cryptocurrency: 1%
- WebMoney: 2%
- Money: 1.5%
- QIWI: 1.5%
- Perfectmoney: 0.5%
- Konnexone: 2%
- Bank wire transfer (EUR): 30 EUR
We encourage you to keep in mind that there are also many commission-free withdrawal methods.
FXTM safety
Our review of the FXTM forex broker found multiple reasons to trust this broker, including the fact that it is licensed and regulated by CySEC, FSCA, and the UK’s FCA. As these are some of the most stringent regulators in the market, you can rest assured that FXTM is economically stable and responsible. FXTM also offers compensation via the Financial Commission’s Compensation Fund, and you’ll benefit from free negative balance protection no matter which account type you choose.
Our review of FXTM confirms that this is a highly reputable broker with a strong background and a wide variety of trading opportunities. FXTM entered the industry in 2011 and has since gained licenses from four top-tier authorities. The broker stands out with an average client approval time of less than 12 minutes, 84% of funds processed within five minutes, and a high customer approval rating. FXTM has also earned numerous awards over the years, named Best Investment Broker from FX Daily Info to Best Trading Experience from the World Finance Awards, both in 2019.
Trade more than 250 instruments, including forex and stocks
Benefit from an intuitive copy trading platform
Licensed and regulated by the CySEC, FSCA, FCA, and FSC
Best broker for its selection of trading tools
Does not accept clients from 8 countries
FXTM overall scores
In this review, you can find all the information you need to decide whether FXTM is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how FXTM scored in each of our high-priority categories.
FXTM fees and commissions
Our FXTM review team found that this broker has highly competitive trading and non-trading fees. Most account types at FXTM carry no commissions and offer low spreads on all instruments. There no deposit fees with this broker either, however, you will pay a small fee for using some withdrawal methods. Although FXTM does charge inactivity fees, at $5 these are lower than competitor rates and are not applicable until after six months of inactivity.
Our experts have reviewed FXTM’s fees based on how they compare with the fees of other reviewed brokers. For each broker, we analyze both trading fees and non-trading fees:
– Trading fees are charged every time you place a trade. They include spreads, commissions, overnight and rollover fees, and currency conversion fees.
– Non-trading fees aren’t directly related to trading, but you should consider them as they make up the cost of using a certain broker. They include payment fees and inactivity fees.
Below you will find a snapshot of the fees charged at FXTM. Our experts have created these tables based on the fees applied to a standard account. We consider a standard account to be the one that will appeal to most traders, often not the cheapest option but not a premium option either.
The following table outlines the fees for Standard accounts:
| Trading Fees* | |
|---|---|
| TYPE OF FEE | COST |
| Minimum Spread EURUSD (pips) | 1.2 |
| Commission (%) | 0% |
| Commission on Islamic Accounts (%) | 0% |
*Based on Standard account type.
| Non-Trading Fees | |
|---|---|
| Account Fee | N |
| Inactivity Fees | Y |
| Deposit Fees | N |
| Withdrawal Fees | Y |
FXTM trading fees
It is no small feat to review the FXTM forex broker’s trading fees as there are six main account types, and each has a different set of fees. As mentioned, most accounts do not charge commission and instead make a profit for FXTM via spreads.
The following outlines the minimum spreads for each account type as well as commissions, where applicable:
- FXTM Standard Accounts have spreads from 1.3.
- FXTM Cent Accounts have spreads from 1.5.
- FXTM Shares Accounts have spreads from 0.1.
- FXTM ECN Accounts have spreads from 0.1 and commissions of $2 per lot.
- FXTM ECN Zero Accounts have spreads from 1.5.
- FXTM Pro Accounts have spreads from 0.0.
To give you a better idea of the spreads charged on various asset classes, we’ve created the following snapshot of minimum spreads across all account types:
- Forex: EUR/USD from 0.1, GBP/USD from 0.3, AUD/CAD from 2.5, EUR/HKD from 2.9
- Stocks CFDs: Apple from 17, BP from 2, Google from 130
- Stock trading: Apple from 2, Amazon from 21
- Spot metals: XAGEUR from 7.0, XAGUSD from 0.4, XAUUSD from 9.0
- European stock CFDs: Adidas from 19, Bayer from 4, Deutsche Post AG from 2
FXTM commissions
Only ECN accounts carry commissions at FXTM. Here, the broker makes up for low spreads with $2 commissions per round. This is a very low commission compared to other brokers, and it is less than half of the amount some competitors charge.
Financing/overnight rates
If you review the FXTM broker’s overnight rates, you will notice that they are around average. To help you make a decision regarding your trades and to provide transparency, you can see the rates on the Contract Specification page of the FXTM website without logging in.
The following are some examples of swap rates from FXTM:
- EUR/USD: -0.02 short and -0.77 long
- GBP/USD: 0.02 short and -0.76 long
- AUD/CAD: -0.37 short and -0.33 long
- EUR/HKD: 0.82 short and -07.7 long
Overnight rates are settled on the second working day after the deal, between 23:59:45 – 00:00:00 (EET) from Monday to Friday. Any orders held overnight from Wednesday to Thursday are charged triple, to include weekend fees when the market is closed.
Non-trading fees
There are no general account fees associated with FXTM, but the broker does charge an inactivity fee. Our FXTM review team found that this inactivity fee is highly competitive at just $5 per month. Additionally, FXTM does not consider an account inactive until it has had no trading activity for six consecutive months. As such, the broker not only has a lower inactivity fee than most competitors, but FXTM also waits longer than most competitors to begin charging it.
There are no deposit fees with FXTM, however some withdrawal methods to carry fees:
- FasaPay: 0.5%
- Africa Local Solutions: 1 USD
- Latin America Solutions: 3.2% in Brazil, 1% + 1 EUR in Mexico
- South East Asia Online Banking: 1.4%
- Online Banking Malaysia: 2%
- Online Banking Indonesia: 2%
- Nganluong: 1.1% + 0.05 USD
- Online Banking Vietnam: 2%
- Visa, MasterCard, or Maestro: 2 EUR/3 USD/2 GBP
- Cryptocurrency: 1%
- WebMoney: 2%
- Money: 1.5%
- QIWI: 1.5%
- Perfectmoney: 0.5%
- Konnexone: 2%
- Bank wire transfer (EUR): 30 EUR
We encourage you to keep in mind that there are also many commission-free withdrawal methods.
FXTM safety
Our review of the FXTM forex broker found multiple reasons to trust this broker, including the fact that it is licensed and regulated by CySEC, FSCA, and the UK’s FCA. As these are some of the most stringent regulators in the market, you can rest assured that FXTM is economically stable and responsible. FXTM also offers compensation via the Financial Commission’s Compensation Fund, and you’ll benefit from free negative balance protection no matter which account type you choose.
FXTM licenses and regulation
FXTM is licensed and regulated by various organizations around the world, with a slightly different trading name in most regions:
- ForexTime Limited is licensed by the Cyprus Securities and Exchange Commission (CySEC) under CIF license 185/12, the Financial Sector Conduct Authority (FSCA) in South Africa under FSP number 46614, and the Financial Conduct Authority (FCA) in the United Kingdom under number 600475.
- ForexTime UK Limited is authorized and licensed by the FCA under license number 777911.
- Exinity Limited holds an Investment Dealer license with the Financial Services Commission of the Republic of Mauritius under number C113012295.
Additionally, Exinity Limited is part of the Financial Commission, which is an organization that resolves disputes in the forex market of the financial services industry around the world. This gives you an extra layer of protection should anything happen to the broker.
Is FXTM safe?
Our review methodology considers several factors to ensure that all of our recommended brokers are safe and reputable. Alongside the number and strength of licenses, we also consider:
- What protection and/or insurance FXTM offers should something go wrong
- FXTM’s reputation, history, and management
FXTM client protection
Under the relevant regulations, FXTM offers client fund protection in the form of compensation, which is as follows:
It is important to note that due to the nature of the Financial Commission, the entire client base of FXTM is not automatically entitled to compensation in the event of insolvency. Each client must file the Dispute Resolution Process in the unlikely event that FXTM becomes insolvent.
As you review FXTM safety precautions, you will also notice that all accounts carry negative balance protection free of charge.
FXTM background and reputation
FXTM has its headquarters in Cyprus and has been in business since 2011. This moderately long history indicates that FXTM is here to stay and is unlikely to face major problems in the near future.
To get a stronger idea of FXTM’s reputation, consider that the broker has received over 90% positive feedback from its traders. In addition to positive FXTM forex broker reviews, the broker has earned 30 awards throughout its history including Best Trading Experience at the 2020 World Finance Forex Awards.
Importantly, FXTM always stores client funds in segregated accounts held with top-tier EU banks to ensure that the funds are always protected. The broker additionally takes all necessary precautions to keep personal client information and other details safe.
This includes using the SSL protocol for safe connections. Thanks to server authentication and user identification processes, FXTM ensures data goes to the proper server and customer terminal. All data transmission is encrypted to stop unauthorized access or data theft. As such, you can rest assured your personal information and banking details are always protected.
Opening an account with FXTM
Not only is opening an account with FXTM straightforward, but the broker approves clients in an average of 12 minutes. This is much quicker than other brokers, who often take up to 72 hours to verify supporting documents. To register with FXTM you will need to provide some basic information and the process can be completed from desktop or mobile. The minimum deposit of just $10 for the Standard Cent account is also highly accessible for most clients.
Is FXTM available in your country?
FXTM is a global broker with clients in over 150 countries. That being said, our FXTM broker review cautions that the broker does not provide services to residents of the following jurisdictions:
- Hong Kong
- Canada
- Democratic Republic of Korea
- Haiti
- Japan
- Mauritius
- Occupied Area of Cyprus
- Puerto Rico
- Suriname
- USA
How to open an account at FXTM
You should find it incredibly easy to open an account at FXTM as the process is fully digital which makes it straightforward and quick.
- Step 1
Select Open Account on the top right corner of the website
- Step 2
Enter your full name, country, email address, and phone number. Choose a password.
- Step 3
Click Send PIN and enter either of the PINs you receive. You will be sent one PIN on your phone via SMS and the other through your email. Agree to the terms and conditions and click Register Now.
- Step 4
Complete the questionnaire, detailing further personal information, trading aims, and trading knowledge.
- Step 5
Submit the required documents to verify your account.
- Step 6
Fund your account and start trading.
What you will need to open an account
Like all brokers, FXTM requires you to submit some personal information and documentation before your account can be verified. Here’s what you’ll need:
- Personal information –Full name, address, phone number, country, email address, and tax residency information.
- Regulatory information – Employment details, proof of forex knowledge, trading aims, and income.
- Documentation – Proof of identity and proof of address, both of which must be in the form of clear color copies. The proof of identity can be a national identity card, driving license, passport, or a government-issued ID. The proof of address may be counted as proof of identity if it has the right residential address listed. Otherwise, you will also need a bank or card statement or a utility bill from the past six months.
To open an account with FXTM, you’ll need to provide proof of identity and proof of address. This process allows FXTM to meet KYC (Know Your Customer) guidelines. KYC guidelines keep you safe and stop the broker from accidentally facilitating illegal practices such as money laundering.
What is the minimum deposit at FXTM?
The minimum deposit limits at FXTM are incredibly accessible, especially if you choose the Standard Cent Account. This account type has a minimum deposit of just $10 (or €/£ 10 or ₦2,000). Other account type minimum deposit limits are as follows:
- Standard and Shares Accounts – $100 (or €/£ 100 or ₦40,000)
- ECN Zero Account – $200 (or €/£ 200 or ₦80,000)
- ECN Account – $500 (or €/£ 500 or ₦80,000)
- FXTM Pro Account – $25,000 (or €/£ 25,000 or ₦5,000,000)
FXTM payment methods
Our FXTM forex broker review team is highly impressed by the range of payment methods available. Many are available in various countries, while others are region-specific. All FXTM accounts are available in USD, EUR, GBP, or NGN (only Nigerian clients). The following chart outlines the payment methods available at FXTM. Keep in mind that FXTM does not have a maximum deposit amount, but individual payment methods may have their own.
FXTM account types
One of the many areas where FXTM stands out in our forex broker review is in the variety of account types that are available. There are a total of six account types to choose from, including three standard accounts and three ECN accounts, so you can be certain you’ll find one to suit your needs.
Demo accounts
Our FXTM broker review team strongly encourages you to take advantage of the broker’s demo account before trading with real money, especially if you are new to forex and CFD trading. The demo account lets you familiarize yourself with the various trading platforms on offer and test trading strategies, the latter of which benefits all skill levels.
Islamic accounts
Islamic accounts are available for all account types, except with MT5 and when trading exotic currency pairs. Our FXTM review team found that there was no need to contact the broker to open an Islamic account. Instead, you can either choose this option when you first open your account or you can go to Accounts Overview and then click on the green arrow that is next to Deposit on your trading account. There, select ‘Enable swap-free mode’. If your account does not have this option available, then you will need to contact FXTM who will take care of your request promptly. We found the process notably easier than at other brokers.
FXTM trading platforms
As you review FXTM platforms, you will find familiar options such as MetaTrader 4 and MetaTrader 5. Both these platforms are available on a range of devices, ensuring that you can easily trade when and where you want. Additionally, FXTM has a proprietary mobile application, named FTXM Trader, which is relatively new and accessible for all account types. All trading platforms offered come with a range of indicators and drawing tools too.
FXTM offers three trading platforms. A trading platform is simply a software interface that allows you to place trades. Trading platforms often come with charting, research, and order processing tools too.
To ensure that we only recommend high-quality brokers, our reviewers have tried and tested each of FXTM’s trading platforms. When doing so, they considered a range of factors including how easy the platforms are to use, what features each trading platform offers, and how suited each platform is to different types of traders.
FXTM Trader
FXTM Trader is the broker’s proprietary mobile trading platform. Our FXTM broker reviewers found the application intuitive to use, with excellent functionality. You can use indicators and other features on the mobile app, however, you will not be able to use Expert Advisors or trailing stop orders as these are only available through other platforms.
Most people who trade on mobile applications combine them with desktop or web trading platforms, so these minor limitations should not be a problem. Other than that, you have nearly full functionality on the mobile app. You can use it to view live currency rates, manage all trading accounts, and open or close positions in a matter of seconds with one-click trading. The trading dashboard also allows you to see details of your trades, including profit, margin, and balance.
You can access MyFXTM from the platform, to monitor funds or make withdrawals and deposits. The mobile application is available from both the Google Play and the Apple App Store. The application also lets you trade across devices, so you can switch from mobile to your computer when convenient.
MetaTrader 4
MetaTrader 4 is the most popular forex trading platform in the world and for good reason too. Our FTXM reviewers were happy to find that the broker provides access to MT 4 on Mac, PC, and both iOS and Android mobile devices and tablets. The platform is available in over 20 languages too.
Trading with FXTM via MT4 gives you access to multi-device functionality and easy-to-read interactive charts. With MT4, you can choose between three order execution types and four pending order types. For analytics, enjoy nine timeframes, 31 graphical objects, 30 technical indicators, and a single-thread strategy tester.
MetaTrader 5
If you want a more advanced trading platform, we suggest MetaTrader 5 with FXTM. It is available in 30+ languages and is also available via PC, Mac, tablet, and mobile.
Some standout features of MetaTrader 5 include the fund transfer capability between accounts, alerts, and the multi-threaded strategy tester. MetaTrader 5 has six pending order types and four order execution types. You can use 21 timeframes, 44 graphical objects, and 38 technical indicators to analyze data with MT5.
This platform also incorporates an economic calendar and the MQL5 community chat that lets you communicate with other traders.
What is the execution policy at FXTM?
The execution policy at FXTM depends on the account type. Standard, Cent, and Shares Accounts have instant market maker execution while ECN, ECN Zero, and FXTM Pro Accounts follow an ECN policy with market execution. For transparency, you can view requote, slippage, and order execution statistics from FXTM on the broker’s Performance Statistics page.
Standard Accounts allow for 30 lots per trade, up to 100 orders, up to 200 lots of orders, and up to 100 pending orders. These figures are 1, 300, 10, and 100 for Cent Accounts and 10, 100, 20, and 100 respectively for Shares Accounts.
All ECN type accounts allow for unlimited orders and unlimited volume in lots of orders with up to 300 pending orders. There is a maximum volume of 100 lots per trade for ECN and ECN Zero Accounts and 250 for FXTM Pro Accounts.
FXTM offers fifth-decimal pip pricing for forex, two for shares, and spot metals vary between two and three. This allows the broker to be as accurate as possible.
FXTM markets and products
Our FXTM reviewers were impressed with the broker’s extensive range of asset classes and instruments. Availability varies slightly between account types, yet no matter which you choose FXTM provides you with plenty of trading opportunities. Choose between currency pairs, spot CFDs, spot metals, cryptocurrencies*, and shares.
*Availability subject to regulations
| Instrument | Number |
|---|---|
| Currency Pairs | 59 |
| Commodities | 3 |
| Precious Metals | 5 |
| Indices | 11 |
| Stocks and Shares | 170 |
| Cryptocurrencies | 4 |
| Options | 0 |
| ETFs | 0 |
Currency pairs
Trading currency pairs with FXTM gives you access to the world’s most liquid market. Leverage can reach as high as 1:2000, and spreads can be as low as 0.1 pips on ECN accounts. The available currency pairs include 19 majors, 22 minors, 19 exotics, and two RUB pairs.
Commodities
FXTM lets you trade commodity CFDs on instruments such as oil and gas, giving you the chance to diversify your portfolio without having to own the product. Spot commodities include UK Brent, US Crude, and US Natural Gas. This gives you the ability to choose instruments of this asset class from around the world.
Precious metals
As with most other asset classes, you can trade precious metals on FXTM in the form of spot metal CFDs. Metals are commonly considered safe havens, making them popular during volatile times and a good way to diversify your portfolio. With FXTM, you can trade silver or gold, doing so against up to three currencies. Silver can be traded against the EUR or USD, while gold can be traded against the EUR, GBP, or USD. This range of base currencies helps FXTM appeal to global traders.
Indices
If you want to take advantage of the most active securities on the market, you’ll be pleased to learn you can trade spot indices in the form of CFDs at FXTM. You can trade these long or short and enjoy long trading hours. Our FXTM broker review appreciates the fact that FXTM offers indices from Australia, France, Germany, Hong Kong, Japan, the US, Spain, Europe, and the UK. This breadth of indices is particularly impressive, given that there are only 11 available.
Stocks and shares
FXTM also offers access to shares in the form of CFDs. Shares Account holders have access to more than 120 US shares and 40 European shares in this form. By trading shares in the form of CFDs instead of directly, you can open a position in either a bear or bull market.
The US share CFDs are highly varied. You will find major names, such as Apple and Google, as well as others not always offered by competitors, such as Bed, Bath & Beyond. The European share CFDs provide excellent diversification options, with choices from across the continent, including the UK, France, Germany, the Netherlands, and more.
FXTM Pro Account holders can also trade stocks with the broker in the traditional sense. This is a rare offering from a Forex broker, giving FXTM a competitive advantage. The available stocks are all listed on the NASDAQ and the NYSE.
Cryptocurrencies
Yet another CFD offering from FXTM is cryptocurrency. This is a growing investment strategy and a great way to diversify your portfolio. With FXTM, you don’t need to go through the hassle of creating a crypto wallet either, as you can trade BTC, ETH, LTC, and RPL against the USD directly on the broker’s platforms. Please note, the availability of cryptocurrencies is subject to regulations.
Social trading
Those interested in social trading or copy trading can do so via FXTM Invest. You can take part in this with just $100. With FXTM Invest, you choose a Strategy Manager and follow his or her trades. This allows you to take advantage of advanced trading strategies with minimal technical skills and time.
The rankings help you choose a Strategy Manager based on trading days, drawdown percentage, risk level, and monthly returns. When you use FXTM Invest, you share a percentage of your profits with the Strategy Manager as commission.
FXTM research tools
Our review of FXTM research tools is highly favorable, as the broker offers daily analysis, an economic calendar, and even a free virtual private server (VPS) to help you trade 24/5 with Expert Advisors. There are also multiple calculators including a currency converter and the FXTM Invest profit calculator. Overall, FXTM provides everything you need to get the most from your trades.
News
News at FXTM is mixed together with the daily market analysis. In this section, you will also find numerous current affairs articles, which outline they affect the various tradable markets. If you prefer just news, then the Forex News Timeline provides this. You can access this news via the FXTM website or from within MetaTrader.
Trading signals and indicators
FXTM’s trading signals come directly from the broker’s market experts who consider several factors, including popular technical indicators and alternative scenarios. The trading signals offered combine elements of daily updates before market opening, protective stop-loss recommendations, exploring scenarios, up to four take-profit levels, and popular technical indicators.
The FXTM Pivot Points Strategy is also worth mentioning. This unique tool helps you understand price direction and market sentiment, in relation to resistance and support levels. You can access it when logged into your FXTM account and use it to create strategies based on your pivot point method, risk profile, and trading style. It features eight timeframes, MACD, moving average, and momentum, and five calculation methods.
Trade ideas
You can find trade ideas from FXTM in the Monthly Market Outlook as well as via the previously mentioned trading signals.
Expert analysis
FXTM has a dedicated team of analysts with a solid industry background. Short descriptions of their qualifications can be found on the website. The Daily Market Analysis page includes detailed articles as well as videos featuring technical analysis and other methods. This allows you to review FXTM analysis in the form that you prefer. For longer-term planning, FXTM also maintains a Monthly Market Outlook page.
FXTM education and training
We encourage traders of all skill levels to review FXTM’s educational resources. Here you will find videos, articles, seminars, webinars, e-books, a glossary, and comprehensive guides, among other resources. There is even a periodic table of investments to help traders gain a firm grasp of relevant topics and strategies.
FXTM customer support
After reviewing and using FXTM’s customer support options, our team confirmed that contacting the broker is both easy and quick. You can do so via live chat, phone, or email, and this service is available in an impressive 18 languages. All clients also receive their very own personal account managers.
To help provide support that is specific to your needs and in your chosen language, FXTM provides multiple contact addresses, phone numbers, and/or email addresses for different countries and regions. These include China, India, Indonesia, Malaysia, Nigeria, Thailand, and South Korea. There are also two physical locations in Nigeria, one in Abuja and one in Lagos with a further office based in London. The following are the contact details for general customer support, all phone numbers are registered in the UK:
- Live chat
- Phone: +44 20 3734 1025
- Telegram: @UKFXTM_bot
- Facebook Messenger: ForexTime
- Viber: +447593612469
- WhatsApp: +447440961025
Customer support responded quickly when we contacted them, and we found the support team to be knowledgeable and ready to answer our questions. If you prefer, you can also browse the broker’s comprehensive FAQ guide before reaching out to an agent.
FXTM mobile compatibility
After completing an FXTM test drive on our mobile devices, we are happy to report that most of the website is readily accessible on mobile devices. Trading with FXTM on mobile should never be a problem either, as you can always choose between the MT4, MT5, and FXTM Trader applications.
FXTM information
- Year Founded: 2011
- Company Trading Names: ForexTime Limited, ForexTime UK Limited, Exinity Limited
- Licenses: CySEC, FSCA, FCA, and FSC
- Headquarter Address: FXTMTower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus
- Phone Number: +44 20 3734 1025
- Facebook: https://www.facebook.com/ForexTime
- Twitter: https://twitter.com/ItsForexTime
Risk Disclaimer: FXTM offers CFD products. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Our methodology: This review of FXTM has been created using accurate data and unbiased facts. To test the broker, we have used our unique and detailed methodology, which assesses over 200 criteria points in 10 key areas. This guarantees that all of our reviews are fair and extensive.
We update our methodology and reviews regularly. Methodology updates are made so that new broker features and products are taken into consideration. Review updates ensure that all the information we provide is current and correct.
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Our Margin FX Markets review can confirm that this is a highly reputable broker, thanks to its vast experience and global regulation. Margin FX Markets is an award-winning company that was founded in 2006 by a team of financial experts. Since then, the company has grown rapidly and now boasts over 400,000 globally registered customers, who execute over two million monthly trades. At Margin FX Markets. you can trade forex, CFDs, cryptocurrency, stocks, indices, and commodities. These are available via MetaTrader 4, MetaTrader 5, and proprietary platforms.
More than 1250 instruments available
Supports automated trading and copy trading
Regulated by FSCA, FSA (SVG).
Best broker for forex trading
Not regulated in the United States
Margin FX Markets overall scores
In this review, you can find all the information you need to decide whether Margin FX Markets is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how Margin FX Markets scored in each of our high-priority categories.
Margin FX Markets fees and commissions
It’s easy to review Margin FX Markets fees as the broker lists spreads clearly on the Financial Instruments page. This page allows you to view the various spreads, which are the main form of fees charged by Margin FX Markets. The broker does charge an inactivity fee, which is fairly standard, yet if the account is not used for a year, there is also an administration fee. There are no deposit or withdrawal fees, however – a competitive decision which stood out as a major plus in our Margin FX Markets review.
Our experts have reviewed Margin FX Markets fees based on how they compare with the fees of other reviewed brokers. For each broker, we analyze both trading fees and non-trading fees:
– Trading fees are charged every time you place a trade. They include spreads, commissions, overnight and rollover fees, and currency conversion fees.
– Non-trading fees aren’t directly related to trading, but you should consider them as they make up the cost of using a certain broker. They include payment fees and inactivity fees.
Below you will find a snapshot of the fees charged by Margin FX Markets. Our experts have created these tables based on the fees applied to a standard account. We consider a standard account to be the one that will appeal to most traders, often not the cheapest option but not a premium option either.
The following table summarizes the fees charged by Margin FX Markets
Trading Fees
| TYPE OF FEE | COST |
|---|---|
| Minimum Spread EURUSD (pips) | 0.6 |
| Commission (%) | 0% |
| Commission on Islamic Accounts (%) | 0% |
Non-Trading Fees
| Account Fee | N |
| Inactivity Fees | Y |
| Deposit Fees | N |
| Withdrawal Fees | N |
Margin FX Markets trading fees
Our review of Margin FX Markets found that the broker has highly competitive trading fees. Margin FX Markets does not charge fees for trading directly and instead makes its profit via spreads. Within that model, the trading fees are very appealing, with some of the following example spreads:
- EUR/USD from 0.9
- Apple from 0.13%
- Crude Oil Spot from 0.03
- S&P 500 from 0.25 Over Market
- MSCI Emerging Markets Index Fund from 0.13%
- EURO-BUND from 0.03 Over Market
- BTCUSD from 0.35% Over Market
Financing/overnight rates
As expected, Margin FX Markets does charge an overnight rate, which the broker refers to as an Overnight Premium. This is a set fee, and it varies by instrument. You can view and calculate the Overnight Premium by viewing information on the Trading Conditions and Charges page.
Click on the asset that you want to know the fees for, and you will see the relevant rates. As an example, the Overnight Interest Sell rate for EUR/USD is 0.0000%, whereas the Buy rate is 0.0118%.
Other examples of Overnight Interest Sell/Buy rates include:
- Apple: -.01111% Sell/-0.0166% Buy
- Crude Oil Spot: -0.0053% Sell/-0.0053% Buy
- S&P 500: -0.0058% Sell/-0.0058% Buy
- MSCI Emerging Markets Index Fund: -0.0111% Sell/-0.0166% Buy
- EURO-BUND: -0.0042% Sell/-0.0042% Buy
- BTCUSD: -0.033% Sell/-0.0694% Buy
Non-trading fees
Those who do not trade regularly should be aware of the potential fees for inactivity. Our Margin FX Markets broker review team cautions that if you have not used your account for three consecutive months, you will be charged an inactivity fee of $50 or 50 in your account’s base currency (e.g. 50 EUR or 50 GBP).
If you leave your account inactive for 12 consecutive months, Margin FX Markets will then charge you an administration fee of $100 or 100 in your account’s base currency (e.g. 100 EUR or 100 GBP).
You should keep in mind that most brokers have lower inactivity fees and charge them monthly. Margin FX Markets takes a somewhat unique approach by having a higher inactivity fee and administration fee, yet each of which is only charged once.
Margin FX Markets licenses and regulation
As a worldwide broker, Margin FX Markets is regulated and licensed by various authorities in different jurisdictions:
- The Bank of England (BOE) regulates Margin FX Markets in Europe with license number C53877.
- The SVG regulates Margin FX Markets in the Finland with license number SIBA/L/13/1049.
The number of licenses certainly caught our eye during our review of Margin FX Markets forex broker, as it’s rare for a single broker to be regulated and licensed by so many organizations around the world. As such, this should give you a high level of trust in the broker.
Is Margin FX Markets safe?
Our review methodology considers several factors to ensure that all of our recommended brokers are safe and reputable. Alongside the number and strength of licenses, we also consider:
- What protection and/or insurance Margin FX Markets offers should something go wrong
- Margin FX Markets reputation, history, and management
Margin FX Markets client protection
Depending on the region in which you open your Margin FX Markets account, you may be entitled to additional client protection.
As an Margin FX Markets client, you will always receive negative balance protection. This is true regardless of the country or region in which you open your account. Client funds are also stored in segregated accounts, in compliance with various regulatory bodies.
The broker uses 256-bit SSL encryption across its website and has the Embedded True-Site identity assurance seal. To prevent identity theft and credit card fraud, Margin FX Markets utilizes McAfee Secure (HackerSafe).
Margin FX Markets background and reputation
Margin FX Markets has been in operation since 1998, providing consistently reliable service to clients. This should give you confidence while you review Margin FX Markets, as the longevity of the broker indicates that it is unlikely to fail anytime soon.
Margin FX Markets history is almost entirely clear from scandals, scams, and warnings. The sole exception is that the Canadian government in Saskatchewan advised residents not to invest with Margin FX Markets in 2018. This was simply due to the lack of registration for operations in that jurisdiction, as well as in British Columbia, Quebec, and Ontario. This should be taken with a grain of salt, as many brokers choose not to operate in these Canadian provinces due to regulations that are extremely hard to meet. Additionally, Margin FX Markets will not accept clients from these provinces anyway, due to the lack of regulation. With proper context, this is far from a scandal.
The American Institute of Certified Public Accounts has determined that Margin FX Markets is WebTrust-compliant.
Margin FX Markets research tools
Between the tools offered on its website and those on the various platforms, our Margin FX Markets forex broker review team found multiple useful research resources for traders of all levels.
Margin FX Markets Research Tools
| News (from top-tier sources) | Y |
| Trading Signals and Indicators | Y |
| Trade Ideas | Y |
| Expert Analysis | Y |
| Autochartist Tools | Y |
| Sentiment Charts | Y |
| Economic Calendar | Y |
Trading signals and indicators
The MQL5 Signals Service is one of the ways that Margin FX Markets gives you access to forex signals. MQL5 Signals Service is fully integrated with both MT5 and MT4. There is no required minimum account balance nor any hidden fees or commissions. Before choosing a provider to subscribe to, you can view their historical data to make an informed decision. Additionally, MQL5 has global cloud infrastructure, allowing for faster execution of signals. MQL5 signals put you in complete control, as you can add, remove, or renew signal subscriptions.
Trade ideas
Trade ideas come in multiple forms with Margin FX Markets. If you want ideas, the best option we discovered during our review of the Margin FX Markets Forex broker is subscribing to MSQL5 signals or Expert Advisors.
Expert analysis
Margin FX Markets offers market analysis to all clients, and a login is required to access this information. The expert analysis includes technical analysis, fundamental analysis, and sentimental analysis.
Autochartist tools
You can use Autochartist with MetaTrader 4 on Margin FX Markets, including technical analysis tools, chart pattern recognition, Fibonacci pattern recognition, pattern quality indicators, and key level analysis.
Margin FX Markets customer support
Our experience with Margin FX Markets customer support has been positive, with quick response times across multiple contact methods. There are even separate contact numbers for dozens of countries, meaning you can always call a local number for phone assistance. Between phone, email, and live chat, you’ll have no problem contacting customer support.
During our review of Margin FX Markets, we tested multiple contact methods, including:
- Live chat
- Sending an email via the contact form
Additionally,Margin FX Markets has separate contact numbers for many of the countries where it operates. There are unique numbers for 21 European countries, Australia, two African countries, seven Asian countries, four South American countries, two Middle Eastern countries, and one North American country. For added convenience, you can find the number for your location at the top of the Margin FX Marketswebsite at all times, preventing the need to visit the Contact Us page and scroll through numbers.
Margin FX Markets has a reasonably extensive FAQ section with answers to most of the questions you are likely to have. Conveniently, the FAQ section has categories, sub-categories, and a search feature.
The customer support team is competent and available 24/5. It is easy to get answers to your questions, and our sample queries were answered promptly and in plenty of detail.
Margin FX Markets mobile compatibility
Our Margin FX Markets review found that the broker was easy to use on mobile devices. We appreciate the fact that MetaTrader 4, and MetaTrader 5 are all available on mobile devices, in addition to mobile compatibility with automated trading. You’ll enjoy full functionality via these mobile applications, as well as unique features like Margin FX Markets. Furthermore, the ability to use a single login across devices – including mobile ones – is highly convenient.
The Margin FX Markets website is among the easier broker pages to navigate on mobile devices. It does not cut off any of the navigation menus on a mobile device, which is rare and makes exploring the site easier. Of course, visiting the website on a mobile device requires additional clicks, but all content is readily available.
Opening an account with Margin FX Markets
Our Margin FX Markets review team found it incredibly straightforward to open an account with the forex broker. It is quick, only taking a matter of minutes, and can be completed online. The minimum deposit is also very accessible at just 100 units of the base currency i.e. $100, 100 EUR, 100 GBP, or 100 AUD. Overall, this easy registration process should make Margin FX Markets a convenient option no matter where you’re trading from.
Is Margin FX Markets available in your country?
Margin FX Markets is available in most countries due to its global regulation. Some countries, however, have a more limited selection of assets available.
Margin FX Markets is not available in the United States as it is not regulated there.
How to open an Margin FX Markets account
Opening an Margin FX Markets account is incredibly easy, and you can complete the steps within minutes.
- Step 1
Go to the Margin FX Markets homepage and select the “Open an Account” button in the top-right corner
- Step 2
Fill in personal details, including name, email address, country of residence, preferred language and phone number
- Step 3
Select which Margin FX Markets entity you wish to trade with and select your trading platform (choose between MT 4 and MT5)
- Step 4
Supply the broker with your date of birth and address (this should be the same as it will appear on your supporting documentation). Verify whether you are a US citizen for tax purposes, choose your base currency and your leverage
- Step 5
Answer questions about employment status, capital, trading aims, and trading experience
- Step 6
Create a password, accept terms and conditions and select the “open real account” button
- Step 7
Download and open the trading platform software and log in with your new XM credentials
What you will need to open an account
Review Margin FX Markets forex broker registration requirements before opening an account. This will help you ensure that you have the proper information and documents on hand.
- Personal information – You will need to provide your full name, email address, phone number, address, tax residency information, and employment status.
- Regulatory information – As part of KYC and AML requirements, Margin FX Markets requires the above personal information and below documentation. In some jurisdictions, such as Europe, Margin FX Markets may also ask you to complete a small questionnaire concerning your trading aims, experience, and knowledge.
- Documentation – You must submit proof of ID and address to verify your account. The proof of ID must be a colored copy of a government-issued ID, such as a driver’s license or passport. It must include your date of birth, name, and photo. The proof of address must be a utility bill that includes your name and address. It must also display the date issued, which must be within the past six months. Mobile phone bills are not accepted. If you make a deposit using a credit card, you may also need to submit images of the card in question, with the middle eight digits from the front and the back security code hidden.
To open an account with Margin FX Markets, you’ll need to provide proof of identity and proof of address. This process allows Margin FX Markets to meet KYC (Know Your Customer) guidelines. KYC guidelines keep you safe and stop the broker from accidentally facilitating illegal practices, such as money laundering.
What is the minimum deposit at Margin FX Markets?
The minimum deposit at Margin FX Markets is just 100 units of the base currency. If your account is in USD, this is $100. Otherwise, it may be 100 EUR, 100 GBP, or 100 AUD.
Margin FX Markets payment methods
You can choose to open an Margin FX Markets account in one of four base currencies: USD, EUR, GBP, or AUD. Keep in mind that only Australian customers can choose AUD as their base currency, and only customers from the United Kingdom can choose GBP as the base currency. The deposit and withdrawal methods vary based on location. All clients can use credit cards and wire transfers, and clients from outside Australia and the EU can also use e-payments.
Margin FX Markets account types
As you review Margin FX Markets forex broker account types, you will notice that they vary based on where you’re trading from. Most clients can open one of two account types: a Standard Account or an Options Account. If you are in Abu Dhabi, you’ll also have the option of a Professional Account, whilst European clients can open Professional or Spread Betting accounts too. As each account type offers access to all asset classes and numerous trading platforms. whichever way you like to trade, there’s an Margin FX Markets account for you.
Demo accounts
Our Margin FX Markets review team strongly suggests that you open a demo account before trading with a live account on Margin FX Markets. The demo account is completely free, and you can use it on all of the supported trading platforms. The demo account comes with $100,000 in virtual funds.
We suggest that beginners use this demo account to hone their skills and test strategies. The demo account is also an excellent way to get a feel for the various platforms. Even advanced traders should use the demo account to test new strategies before implementing them.
Islamic accounts
Opening an Islamic account is simple and lets you trade in a way that is compliant with Sharia law. Before you open an Islamic account, you must first open a regular account. After you’ve created and verified it, add some funds. Once there are funds in the account, you can register for an Islamic account. It usually takes one or two business days to process the requests.
Professional accounts
Because the account offerings from Margin FX Markets are fairly straightforward, we included a deeper look at Professional accounts in our review of Margin FX Markets Forex broker. Remember that this type of account is only available in select EU countries and under European Union regulations.
Professional traders receive tighter spreads when trading, along with the possibility of increased leverage. Because the risks are greater, you must meet two out of three requirements to open a professional account with Margin FX Markets.
To open a Professional account, you must:
- Have had an average of 10 transactions per quarter, of significant size, for the past four quarters
- Have at least a year of experience working in the financial sector in a professional role that required service or transaction knowledge, and/or
- Have at least 500,000 EUR in your financial investment portfolio, including financial instruments and cash savings
Margin FX Markets trading platforms
Our Margin FX Markets broker review team is highly impressed by the variety of platforms offered by the broker. Clients can use the ever-popular MetaTrader 4 and MetaTrader 5 platforms,
Margin FX Markets offers seven trading platforms. A trading platform is simply a software interface that allows you to place trades. Trading platforms often come with charting, research, and order processing tools, too.
To ensure that we only recommend high-quality brokers, our reviewers have tried and tested each of Margin FX Markets trading platforms. When doing so, they considered a range of factors, including how easy the platforms are to use, what features each trading platform offers, and how suited each platform is to different types of traders.
MetaTrader 4
MetaTrader 4 (MT4) has been around since 1998 and is the industry standard for Forex and CFD trading. You can access the Margin FX Markets MT4 trading platform via your personal computer, web browser, or mobile device. The platform is fast and flexible.
You can access trading signals from some of the top providers via MetaTrader 4. Plus, you can take advantage of expert advisors for algorithmic trading. Our Margin FX Markets broker review also encourages you to look into the Guardian Angel feature incorporated into MT4, which is a personal decision-making tool aimed at novice traders. MetaTrader 4 also allows hedging, which gives you protection from market uncertainties.
You can use the MQL4 programming language to develop custom trading tools or take advantage of those that are already in the program.
MT4 already includes nine timeframes, three charts, 30 built-in indicators, and 24 graphical indicators as well as four pending order types.
With MT4, Margin FX Markets clients can trade directly from the charts, trade micro-lots, and take advantage of streaming news. There is even a free chat function for the trading community on the mobile version.
MetaTrader 5
We suggest that advanced traders review Margin FX Markets MT5 access as this platform has even more tools available than the MetaTrader 4. MT5 also supports expert advisors and custom indicators, as well as scripts and libraries. It is available on mobile devices, the web, or as a download.
You can use the already-created automated trading robots made by professionals or create your own. The programming language in MT5 is MQL5, which is for financial applications. Compared to MT4, MT5 is more advanced and features a quicker development cycle, which makes optimization easier.
To help with your analysis and trading, you can use 12 timeframes, three charts, 38 built-in indicators, six pending order types, and 37 graphical objects with MT5 for Margin FX Markets. You also get the ability to trade directly from charts, one-click trading, micro-lots, and a multi-threaded strategy tester that advanced traders will appreciate.
What is the execution policy at Margin FX Markets?
As you review Margin FX Marketss execution policy, you will notice that the broker is a market maker. According to Margin FX Markets, this execution policy allows it to maintain highly competitive spreads. Margin FX Markets prides itself on offering a fast execution speed, and there are no requotes on MetaTrader 5.
Margin FX Markets markets and products
Margin FX Markets provides access to more than 1250 instruments in nine asset classes, including forex and CFDs, commodities, ETFs, shares, and cryptocurrencies. This huge range is larger than many brokers of the same caliber and provides you with great opportunities to protect your balance by diversifying your portfolio. Our Margin FX Markets review team was especially happy to find a wide range of cryptos, as we know these are increasing in popularity with all types of traders.
| Instrument | Number |
|---|---|
| Currency Pairs | 55 |
| Commodities | 18 |
| Precious Metals | 5 |
| Indices | 20 |
| Stocks and Shares | 617 |
| Cryptocurrencies | 14 |
| Options | 44 |
| ETFs | 5 |
Currency pairs
The 75 currency pairs offered by Margin FX Markets include majors, minors, and exotics. With so many currency pairs, you can trade currencies from around the world.
As an example of the trading conditions for Forex pairs, EUR/USD has spreads from 0.9 pips, leverage of up to 400:1, and margin requirements of just 0.25%.
Commodities
Commodities are one of the many instruments Margin FX Markets offers as CFDs, allowing you to diversify your portfolio without owning the underlying asset. Commodities include agricultural products and energy. Spreads and leverage depend on the commodity in question.
As an example, gold has spreads from 0.34 and leverage of up to 200:1, while these figures are $0.25 over market and 33:1 for corn or $0.0015 over market and 50:1 for heating oil.
Precious metals
Precious metal CFDs are included under the commodity CFDs from Margin FX Markets. These include copper, platinum, gold, silver, and palladium. Most of these have maximum leverage of 50:1, although the maximum leverage for gold is 200:1.
Indices
You can easily see the global reach of Margin FX Markets via its index offerings, which are also offered solely as CFDs. There are indices from around the world, including the S&P 500, NASDAQ 100, DJ EURO STOXX50, MSCI, SPAIN 35, NIKKEI225, and CHINA A50. There are also rarer indices, such as the CANNABIS INDEX, which are perfect for adventurous traders.
Stocks and shares
Trading stocks and shares on Margin FX Markets is only available via CFDs, so you should keep that in mind. This is a nice alternative to traditional stock trading as it allows you to profit from market movements in either direction and trade with leverage.
As an example of stock trading conditions, Apple, Cisco Systems, Google, and Amazon all have spreads from 0.13%, margin requirements of 10%, and leverage of up to 10:1.
One important thing to note is that trading on MetaTrader 5 gives you full access to the 617 stocks and shares from Margin FX Markets. Trading on MetaTrader 4 only provides access to 64 of these. In the experience of our Margin FX Markets broker review team, the latter of these figures is an average amount of CFD shares available for trading, while the offerings for MT5 are exceptional.
Cryptocurrencies
Based on the findings from our review of Margin FX Markets, we encourage those of you with an interest in cryptocurrency to consider crypto CFDs at this forex broker. Cryptocurrency CFDs let you trade and make a potential profit without having to own the underlying asset. With 14 cryptocurrency pairs available, Margin FX Markets has an above-average selection.
Notably, our Margin FX Markets Forex broker review team points out that Bitcoin is available as an instrument traded with more than just USD. You can also trade BTC/EUR and BTC/JPY, the latter of which is a particularly rare offering. The inclusion of the CRYPTO 10 INDEX is also noteworthy as it allows you to invest in cryptocurrency as a whole.
ETFs
AlthoughMargin FX Markets only has five ETFs available, they are fairly varied, including the MSCI Brazil Index Fund for international interests. The other ETFs are the MSCI Emerging Markets Index Fund, the S&P 500 VIX Short-Term Futures ETN-Series B, Market Vectors TR Gold Miners, and Energy Select Sector SPDR.
Bonds
Just two bond CFDs are available from Margin FX Markets, although this is more than most competitors offer. You can trade EURO-BUND or JAPAN GOVT BOND, each with leverage of up to 20:1 and with spreads of 0.03 over market and 0.06 over market, respectively.
FX options
The inclusion of forex options in certain markets is a feature that helps Margin FX Markets stand out from the competition. Trading vanilla options lets you choose from call or put options, including the ability to buy or sell either.
Leverage on most Forex options is up to 100:1, and the spreads are typically the same as they are for the relevant Forex pair.
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