This is a relatively large, well structured, ASIC regulated broker. Since 2006 GO Markets is known as the first broker to offer the MT4 platform in Australia. The broker has some server problems at first but quickly expanded the IT infrastructure and opened new offices in London, Taipei, and Honk Kong.

Go Markets recently offered the Metatrader 5 and the web trading platform. The addition of cryptocurrencies, more features, and account types points that this broker is in the right direction and is following the trader’s needs. The website is very well designed for ease of use and has a good bland of marketing and information value. As with many companies that want to break through the competition, GO Markets tries to differentiate with some features mix that adds on to the overall trading experience. By going through the sections we will review what this broker has to offer.

Account Types

Go Markets has two distinct and feature-packed account types. The Standard Account for those that want to stick to standard floating spreads range and the GO Plus Account that features 0 pip floating spreads and the $3 commission per side. GO Markets provides a good introduction to both account types without redundant phrases. Traders of the Standard Account will get relatively low spreads comparing to other brokers from more than 22 liquidity providers. Account currencies options are great, traders can open an account in AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, and HKD. This number of base account currencies is rarely seen.

The GO Plus Account type takes raw spreads from the market but also charges a commission. This account also has a bit higher minimum deposit of $500 although this amount should be low enough for anyone that wants to trade seriously. To make this account even more interesting, GO Market included the Dedicated Account Manager service. Although further investigation showed that this service is available to both account types.

Platforms

Metatrader 5 and 4 are available for all desktop and mobile versions. The web platform is also available using the Metatrader layout and button shortcuts to GO Markets client portal, deposit, and live chat. Both MT5 and MT4 platforms are by default settings and quickly establish the connection with the server. The average execution on the MT4 is a bit slower than MT5 and is around 500ms. The MT5 though is around 200ms which is good enough. The account types do not matter much towards execution times. Go Markets does not have any proprietary trading platforms and focuses on the Metatrader only.

Leverage

GO Markets offers a leverage level of up to 1:500. This is a higher than average when compared to other brokers and shows that this broker is biased to low deposit, high-risk trading. The leverage is changeable, by default it is set to 1:100. GO Markets client portal is well designed and the leverage change is done from there for any account created by the client. Note that the leverage is scaled to the maximum account balance, for example, traders with more than $500.000 cannot have leverage higher than 50:1.

Also, anyone above $10.000 cannot have higher than 1:400 leverage. Some exotic trading instruments may have lower leverage than the set standard. Just to be clear, GO Markets states this information as a margin percentage in the MT4/5 instrument specifications, so traders may be confused with the 500% margin percentage for some exotics. For Cryptocurrencies, the leverage is 1:5. As we are informed by the GO Markets support, the leverage level is about to be revised.

Trade Sizes

Trade sizes are in-line with the two account types offered. The minimal trading volume size is 0.01 lots. Additional volume steps are also at 0.01 lots. The maximal volume is capped at 40 lots. Of course, this value differs from asset to asset, so for BTC/USD it is five lots is the maximum. For Oil, the maximum is at 20 lots with 0.1 lots minimal trade volume and step. GO Markets has set a Margin Call at 80% and a Stop Out at 50%, this is not usual levels as with other brokers (50%, 20%Stop Out) so traders will have to pay attention to risk management.

Trading Costs

Clients that choose to go with the GO Plus Account will have a $3 commission per side ($6 round trip), while the Standard is commission-free. From the MT4 platform, we have noticed a $5 commission charge for 1 lot, but that is Australian Dollar, just to avoid confusion.

Swaps are under normal levels, even for crypto at -25. Positive swaps are common, for the EUR/USD pair, a short swap is 6.08 points and long -9.55. For some exotic like the USD/HUF is 11.88 long and – 23.42 short swap. As we went on to see the swaps for each currency pair, we were impressed to see so many positive.

Assets

GO Markets does not want to leave any type of traders out, and that counts towards the asset range too. This broker covers almost all categories, Forex, Indices, Shares, Commodities, Metals, and Crypto.

Starting with Forex, a total of 50 pairs plus the USDollar index are listed. All the majors are there and the exotics offer is not bad either. AUD/CNH is a rare sight yet GO Markets is from the eastern forex block. Other exotics like the PLN, TRY, SGD, HUF, MXN, and Snadinavian currencies are not left out. All that forex traders need.

Indices offer is average with 13 total, not counting the USDollar index. China50 and the ASX are of course listed, but all other global major indices are on the list, this way the range covers all trading sessions.

GO Markets recently introduced shares from ASX (Australian Securities Exchange). Over 200 top ASX companies are listed but this offer is only for Metatrader 5 platform. Catered for Australian clients, this is a great offer.

Commodities are very limited. Some commodity traders may be disappointed as only 2 Oil assets can be traded. The spot WTI and Brent Oil. Brent Oil trading session is a bit shorter than usual, available from 03:00-24:00 GMT+3 time.

Just as with the commodities, the metals range are limited to Silver and Gold. On the GO Markets web site, more in this category are mentioned although during the writing of this review these are not yet on introduced.

Finally, the cryptocurrency range is not catered for the most demanding traders but all the majors are offered. What is interesting that Cryptocurrencies are not listed on the GO Markets web site at all, and this is unclear as Crypto is one of the most attractive CFD categories. The MT4 platform shows Bitcoin, Bitcoin Cash, Litecoin, Ethereum, And Ripple all denominated in USD.

Spreads

The always amazing 0.0 pip spread statement is often not true for most of the trading time. However, the most liquid pairs like the EUR/USD and USD/JPY had 0 pips spread sometimes. What is certain is that 90% of the time is from 0.1 to 0.3 pips. Of course, this is valid for the GO Plus Account where commissions also apply. For Bitcoin, the spread is 22 pips, and this is one of the best spreads in the industry.

The Standard Account has a somewhat wider floating spreads. For EUR/USD Metatrader5 platform showed 1.1 pips, same as with USD/JPY, GBP/USD and even the NZD/USD pair. Generally, all majors had around 1.2 pips and this is a very good spread comparing to other brokers.BTC/USD spread is the same as with the GO Plus Account at 22 pips. The Standard Account could be an even better choice for longer-term traders.

Minimum Deposit

From 200 AUD traders can open the Standard Account and from 500 AUD GO Plus Account.

Deposit Methods & Costs

Bank Wire transfers are available but imply transaction costs that vary and are subject to the client’s bank. BPAY deposits are possible although it may depend on the client’s country, currently only for Australian clients. We are informed by the GO Market support that the handling fees described in the Product Disclosure Statement are not charged anymore.

GO Markets does not charge any internal deposit fees using Visa/Mastercard, Skrill, Neteller, and Bank Transfer. In addition to the mentioned methods, FasaPay and Poli are also available. All the deposit methods may not be available for all clients. Credit Card, Bank Transfer are accepted from all countries, Skrill and Neteller for countries outside the EU for now.

The client portal will list all the deposit/withdrawal possibilities once a client is approved.

Withdrawal Methods & Costs

As GO Markets states, profit funds can only be returned to a bank account in the client’s name. No fees will be charged by GO Markets for withdrawals. The withdrawal process can be started from the client portal and all the methods as with deposits are optional.

Withdrawal Processing & Wait Time

The withdrawal process is submitted through the client portal and will take 24 hours during business days to complete. By Wire Transfer, the withdrawal processing will take 1 business day by the GO Markets, although it will take more time for the funds to reach the client’s account. This is usually 1-5 business days. Electronic payments like Poli and BPAY withdrawals are done in a few hours. E-wallets and Credit Cards are instant once the withdrawal is approved.

Bonuses & Promotions

Thre are several mentions about promotions in the Legal Documents section of the GO Markets website. What we have found is that currently, GO Markets has a 50% off on commission for GO Plus Accounts. To apply a client has to deposit $20.000 and have this promotion for some time (a few months). For deposits of $50.000, this period is extended to about 6 months.

For those that are interested in Introducing Brokers, Affiliates or White Labels, GO markets have offers for these partnerships too. Any marketing source like a blog, email, social media, websites, etc is possible to link with this broker marketing. To apply for these programs parties need to fill a form

Educational & Trading Tools

GO Markets has invested in education material and is on par with the top brokers. Introduction to the world of Forex trading is very good, complemented with videos and webinars. The Inner Circle is for any trader level that aims to learn even more. The education is not as deep as some traders enthusiast sites have to offer but it will cover the basics and more. The Videos are not long, easy to follow and have a good concept. As with other GO Market material, it is detailed and catered to be understood. E-books are available but only for live accounts, so in a way it is not accessible for free. Webinars are also available where attendees can pose questions. Of course, registration is required for these, weekly, Inner Circle webinars.

Tools offer is also great. Traders will have familiar Autochartist and Trading Central service for automated chart drawing and analysis. Full Autochartis and Trading Central abilities are well described. For this service traders will need to deposit at least 500 AUD. With the demo account, it is also possible to see Autochartist in action, you just need to contact the assigned Account Manager.

VPS is available although certain conditions have to be met. Traders will have to reach a $1million trading volume per month or a $10 fee will be applied monthly. VPS service will be terminated if your trading account balance falls below $30.

A-Quant Daily Trading Strategies offer is a third party service that encompasses trading signals from the AI learning machine. A-Quant is a new fin-tech company from Cyprus made up from experts in Finance, AI, that have decided to create this signal service. We do not have information on the quality or the success rate of these signals although it is always good to have an extra trading tool.

MT4 & 5 Genesis offered by GO Markets is an addon pack with apps and indicators for trading environment enhancement. Specifically, better info panels, Correlation Matrix, Alarm app, Economic News Calendar, Sentiment Indicator, and a Session Map. As with the VPS, this service is available for deposits of at least $500.

GO Markets is connected to Myfxbook social trading. As some may already know, Myfxbook features thousands of traders that share their signals. Copy trading is a popular method for anyone who does not have the expertise to trade successfully. Myfxbook features some good tools for various aspects of trading and is one of the most popular websites for traders. To be able to use this tool, clients need to deposit at least $1000 and have the Standard Account type. By adding this feature to the mix, GO Markets has covered all the interest areas of traders.

Go Markets Newsfeed and analysis is very similar to the headlines you can see with popular news companies. Some simple facts are stated with additional key fundamental figures are a very good way of approaching and covering global topics. All the sources are from trusty institutions. Traders that dive into fundamentals will enjoy the Daily and Weekly news section.

Economic Calendar is packed with features but not overwhelming. The design is good with plenty of useful filters. All the information about events is presented with impact meter, historic movements chart, source links, and the ability to save the setting for the next session. This type of Economic Calendar app is common with the top brokers.

Margin Call is GO Markets’s great podcast series with very good interviews. The series has a great concept and a nice overview of the interview structure so you can know what to expect. This high-quality feature will be very interesting to many listeners as it covers some deep and interesting industry topics.

Customer Service

Chat is the first choice for a quick answer and GO Markets has 24/5 multilingual support. What we have found out that chat is not always available so the 24/5 applies to emails. The queue is not long, the GO Market representatives are relatively quick to connect with you, in about 5 minutes. They will provide very good answers and explain some issues you have with examples. Any subsequent questions will be answered promptly.

The knowledge they have is enough for any level and they speak (type) English, Chinese, Thai, Portuguese, German, and Vietnamese. Email language does not matter as they have translators for all. The phone line is also available. Overall, the support is professional and close to the top level.

Quick support app (TeamViewer) is another feature that clients can use if they want to give GO Market staff access to their computer and resolve or explain any issues. Note that this method is not always easy to accept by some clients for privacy concerns although TeamViewer is a great and efficient problem solver.

Demo Account

The demo account will last for 30 days but this limit can be revoked by request to GO Market support. The process is protected from bad inputs (fake phone number) and the login password is sent by SMS, not to the email. For anyone not willing to provide their phone number, they can go and use free online phone numbers for SMS reading. The demo can reflect both account types, all the commission and swaps will be accounted when trading, no information will be hidden. Traders can select the account type during the registration process, the base currency and the leverage level. It is great to see that the demo can be used to compare all the pros and cons of both account types without any compromise in information transparency.

Countries Accepted

The very careful and meticulous registration process will filter all the countries that are not accepted from start. The list of prohibited countries is not short, many will find this broker off-limits. Clients from Afghanistan, Azerbaijan, Botswana, Bosnia and Herzegovina, Burundi, Central African Rep, Congo, Côte d’Ivoire, Ethiopia, Eritrea, Egypt, Gaza Strip, Ghana, Guinea Bissau, Haiti, Iran, Iraq, Lebanon, Libya, Myanmar, Nicaragua, North Korea (DPRK), Pakistan, Serbia, Sierra Leone, Somalia, Sri Lanka, Sudan, South Sudan, Syria, The Bahamas, Trinidad and Tobago, Tunisia, West Bank, Venezuela, Yemen and Zimbabwe are not accepted.

Conclusion

GO Markets has a mediocre score on the user satisfaction benchmark sites. The main issues were with international withdrawals and with people who are earning profits. As claimed they were locked out of the trading, had abnormal quotes before news events, etc. Of course, as an ECN and a Market Maker broker, they are hedging against the big and profitable traders. On the other side, GO Markets features a great Education, News, and tools that are not just for marketing sake.

The asset range is good enough, the account types are affordable and diversified enough, even if only two types are offered. The support staff is also giving an impression of quality. This broker is evolving and expanding quickly into new markets, the Middle East and Northern Africa (MENA) region are their new focus and we can expect new trading instruments, offers, and features. We have noticed some changes and outdated clauses in the legal documents that prove this rapid change and it is for the better. A great example of this is the “handling fee” cancelation and setting all transactions to be free of charge. Moreover, changes in the account type offer allow having different trading environments for an affordable minimum deposit.

Being very clear, attentive and informative to visitors of their website shows a professional attitude that traders will notice and this is certainly their best marketing. What traders need to be aware of is that their style of trading may not be adequate for GO Markets, even if this is a relatively low latency, ECN, raw spread broker. Similar user reviews posted on the benchmarking website may point to a valid issue about the profitable traders blocking in various ways. Note that EAs, scalping, hedging and news trading are not prohibited.

Fortrade is regulated by ASIC, NBRB, and FCA. This broker is well established and relatively popular on social media, possibly due to their volume of affiliate marketing. They are known for offering their own customized trading platform as well as MT4.

Account Types

Fortrade seems to offer only one account, ‘Fortrader’ account. You may use MT4 or their own Fortrade platform (web/mobile for both). It is not easy on the website to find basic information about the properties of the live account, which is frustrating, as it meant that we needed to contact client support to ask such basic questions.

Platforms

Fortrade offer both their own tailored trading platforms in web and mobile versions, as well as MT4 web and mobile versions.

Leverage

If you refer to their FAQ page, you can find that they offer the following leverage caps, as a result of ESMA policy:

• Major FX Pairs 30:1
• Minor FX Pairs 20:1
• Gold 20:1
• Commodities 10:1
• Major Indices 20:1
• Minor Indices 10:1
• Shares 5:1
• Cryptocurrencies 2:1

Note if you apply for a professional client account, maximum leverage allowed is 1:200 however deposit requirements are higher. You will need to apply for this account in order to be given the full set of requirements.

Trade Sizes

Unfortunately, the FAQ page is not very useful to pinpoint certain information such as minimum/ maximum trade sizes so this is not something we can confirm currently.

Trading Costs

Although specifications on how a dormancy fee can be applied and when Fortrade is entitled to charge such fees of $10 so that is one thing to bear in mind if your account becomes somewhat inactive. In terms of trade commission fees, there is no clear mention anywhere on the FAQ page or the website itself. When we asked Support to clarify this, we found out that Fortrade does not charge their clients commissions (so they make a profit from the spreads instead). For swap fees, there is a calculator handy from the website. Swaps vary in accordance with your trade sizes, etc.

Assets

Fortrade advertises that they offer over 70 currency pairs. Conclusively, they offer Forex, Indices, Commodities Shares, and cryptocurrencies. There is a fair variety of instruments to choose from, meaning clients have the opportunity to diversify their portfolio if they wish.

Spreads

Fortrade offers only fixed spreads. Bear in mind they make their money from the spreads since they charge 0 trade commissions, thus, they are a little higher than the average floating spreads from the average broker. Their fixed spreads have an average of 2 pips, which is not overly competitive. You can see a full list of their fixed spreads on the website.

Minimum Deposit

Fortrade requires a minimum deposit amount of $100, which is not too high compared to other brokers.

Deposit Methods & Costs

Fortrade does not charge fees for deposits. The funding methods available are as follows: Skrill, Neteller, Paypal, Wire transfer and Card.

Withdrawal Methods & Costs

Fortrade does not charge fees for their withdrawals, which are: Skrill, Neteller, Paypal, Wire transfer and Card.

Withdrawal Processing & Wait Time

Withdrawal timescales are not easily found on the website so we asked the live chat agent but it was incredibly frustrating that the response to this question was asking for client contact details to assist in opening a live account, rather than actually answering the basic questions asked. Even after much frustration and angst, we still never got to the bottom of the withdrawal processing times, but instead were demanded by the support agent to give a contact number to be assisted by an Account Manager to answer questions. Ridiculous customer service, and very pushy to get clients to open an account without knowing the full ins and outs of the account they are signing up to.

Bonuses & Promotions

Yes, Fortrade does offer deposit bonuses. When we asked the live chat agent about any deposit bonuses and where to find information on it (since it is not obviously displayed on the webpage), we were advised that yes, they offer a bonus, however, we were once again asked to give a contact number so an account manager could then give us the info. This is not efficient and also demonstrates that the agents are not fully trained or competent on the company products and services.

Educational & Trading Tools

Fortrade offers a multitude of educational services including training videos, seminars, and daily analysis articles.

Customer Service

Most of the time Customer support is efficiently responsive but at times we had to repeat ourselves and rephrase simple questions, which made it seem their support agents are not fully competent in the English Language. You may contact client support via telephone, email and live chat on a 24/5 basis (9 AM to 9 PM GMT).

Demo Account

Fortrade does offer a demo account, which is definitely handy if you are a beginner trader, however, the only issue we had with this is that you are encouraged to demo with $10,000 which for many is a highly unrealistic amount. In reality, you should only demo with what you could afford to trade with on a live account.

Countries Accepted

Due to the multiple regulations this broker is restrained by, Fortrade cannot accept clients from the USA or Belgium and is not intended for distribution to, or use by, any person in any country or jurisdiction where trading be contrary to local law or regulation, so be sure to check if your resident country is on the list before you apply for an account.

Conclusion

Firstly, the website is not easy at all to navigate, so beginner traders, find a broker that for a start, has a website that is easier to use. Secondly, customer support was painful in the sense that communication was not smooth and the quality overall is less than satisfactory. Thirdly, the trade conditions are not at all competitive; fixed spreads (and high ones at that), with low leverage… this makes profitable opportunities rather slim. This broker does not stand out for any element at all and therefore is not competitive to other brokers out there right now.

FX Choice is a Forex broker that is based in Belize and is regulated by the IFSC. The firm has actually been in the FX business since 2010 and for that very reason is viewed as being a veteran brokerage. In the FX Choice review below, you’ll not only learn exactly what this broker offers, but also learn how they differ from other brokers. The goal? To provide you with more than enough information to decide whether or not FXC is worthy of an even closer look.

Account Types

There are two account types offered, with these being Classic and Pro. With both types, the minimum required deposit amount is $100. Both also have the same leverage ratios, same lot size requirements, and most of the same assets. There are, however, some important differences that you’ll want to take note of. One being that the Pro account provides access to ten additional FX pairs. There are no commission charges on the Classic account, but the spreads are higher. On the Pro account, there are commission charges, but the spreads are tighter.

Classic Account:

• Minimum Deposit: $100
• Spreads: starting from 0.5 pips
• Commission: None

Pro Account:

• Minimum Deposit: $100
• Spreads: starting at 0 pips
• Commission: $3.5 per $100,000

Platforms

FX Choice offers both the MetaTrader 4 and MetaTrader 5 platforms. MT4 has been the preferred platform of most Forex traders for quite some time now. Even so, some traders are now making the move to MT5 and will be happy to see it as a platform option. Do note, however, that the MT5 platform is only made available to those who open a Pro level account. So, if you opt for the Classic account level, you’ll only be able to use MT4.

Both platforms are available as a download for Windows and can be accessed within any major browser using WebTrader. Both are also available in app formats and are available for download within the Apple Store or Google Play.

Leverage

The maximum leverage setting on both account types is 1:200, a ratio which some who trade Forex will consider less than optimal. If you’re looking for higher ratios of 1:500 or even higher, you’ll need to look to one of the offshore firms to provide it. The lowest allowed leverage setting is 1:25, which may also be viewed as a problem by those who wish to trade with no leverage whatsoever. On the Classic account, margin call is set to 25% and stop out at 15%. On the Pro account, margin call will take place at 100%, while stop out is set to 80%.

Trade Sizes

The smallest trade size is 0.01 micro lot and this goes for both account types. The maximum on both is 1,000 lots on all assets other than cryptocurrencies. On digital assets, the maximum trade size is capped at 5 lots. The ability to trade in micro-lots is a nice one to have. However, some may feel restricted by the maximum position size on cryptocurrencies.

Trading Costs

As mentioned previously, one will need to pay commission with a Pro account, but not on the Classic account. Essentially, you’ll be paying the broker by way of higher spreads on the Classic account. Swap, or rollover, fees are charged on both account types. Since these costs vary by the asset, you may want to create a demo account or contact the FX Choice support team for more information. The broker does keep a detailed rollover policy posted on its website.

Assets

FX choice offers six different asset groups, including:

• Currency Pairs
• Indices
• Metals
• Commodities
• Energies
• Cryptocurrencies

In total, here are 28 currency pairs available to Classic account holders, while Pro account holders have access to 38. Aside from this one difference, it appears that all other assets are available on both account levels.

Spreads

On the Classic account, spreads start as low as 0.5 pips. This is actually quite impressive, considering the fact that there is no commission charged on this account type. With the Pro level, spreads start as low as 0.0 pips. Spreads, of course, vary by the asset, so you may want to spend some time comparing the spreads on your preferred assets on both accounts.

Minimum Deposit

There is a $100 minimum deposit requirement across the board. This is relatively standard within the industry and certainly no cause for concern. With that being said, there are FX brokers that do ask for less. Commonly, brokers will ask for larger amounts on higher-level account tiers, but here, the minimum is the same for both.

Deposit Methods & Costs

FX Choice has done an excellent job of setting itself up to accept a broad range of incoming payments. The following list includes all of the payment methods that can be selected for deposits and withdrawals.

• Wire Transfer
• Bitcoin/Bitcoin Cash
• Skrill
• Neteller
• Litecoin
• Ethereum
• Ripple
• Tether
• FasaPay
• Perfect Money
• PaySafeCard
• Trustly
• Qiwi
• AstroPay
• POLi
• UPayCard
• ePayments
• Vload

Did you notice what is missing from this list? That’s right, credit and debit cards. Even so, cards can be used to purchase e-funds which can then be used to make a deposit. FX Choice does charge deposit fees on most of these payment methods. The fees vary by method, ranging from 0.5% to as high as 10%.

Withdrawal Methods & Costs

PaySafeCard, Trustly, QIWI, AstroPay, and POLi cannot be used for withdrawals, but all other payment methods can. With most methods there is a nominal withdrawal fee. However, Neteller and ePayments withdrawals are free. FX Choice provides complete details on all deposit and withdrawal fees on their website.

Withdrawal Processing & Wait Time

Same-day withdrawals are a possibility during the business week (Monday through Friday). The actual wait time for a payment to arrive will be determined by the payment method. Bank wires, for example, tend to take the longest time to post. Whereas payment methods such as Bitcoin can arrive in an hour or less.

Bonuses & Promotions

There are no trading contests offered by FX Choice at the moment. They do, however, offer a referral program. To profit from the referral program, one will need to share their own personal referral link (found in your account back office) with friends, family, or acquaintances. When someone uses the referral link to create a new account and deposit with FXC, the referrer (you) would earn $25 for each $100 deposited. The earnings are capped at $250 per new trader referred. A one-time deposit bonus in the amount of 15% of the total deposit is also offered.

Educational & Trading Tools

There are no educational resources provided, aside from a Knowledge Base. The only trading tools are those which are already built into the MetaTrader platforms. There are extra services available though, including Forex signals, Autotrading service, EAs, VPS, and more. The firm has also rolled out a program titled, “Pips+” which is targeted at Pro account holders who wish to reduce their commission charges. Visit the FX Choice website to learn more.

Customer Service

The FXC customer support team is available 24/5 and can be reached via live chat, phone, and email. It is possible to request a callback, which should be completed within 24 hours or less. Multilingual support is offered, which is excellent. Whether your native language is English, Spanish, Italian, Farsi, Mandarin, or Thai, help is available. The primary contact number for client support is +52 558 526 80 32, whereas the contact number for general inquiries is + 501 227 27 32.

Demo Account

Not only does FX Choice offer demo accounts, but they also offer them in ‘real account’ format. This means that their demo accounts offer trading conditions and pricing which is the same as what is seen within real accounts. Their demo accounts allow you to choose a leverage setting ranging from 1:25 up to 1:200. A demo account can be created on the FXC website by providing just some basic personal information.

Countries Accepted

Residents of Afghanistan, Belize, Iraq, Italy, North Korea, Spain, Sudan, and the Syrian Arab Republic are not allowed to create an account with this broker. As of now, they are allowing residents of the United States and China to trade with them, which is interesting, since many brokers ban these two countries from their platform. Obviously, this could change, so check with the support team should you have any questions regarding acceptance for your country.

Conclusion

The positives of FX Choice are pretty clear. They offer two solid platforms, accept plenty of payment methods, have good spreads, and do not ask for a crazy-high minimum deposit. There is the option to trade commission-free and withdrawal requests are reviewed and paid out quickly. As for the negatives, there are fees on most payment methods, there is no weekend support, and some may find the 1:200 leverage maximum too low. Overall, the final determination of this FX Choice review is that this Forex broker is reliable and worthy of at least some consideration by those in search of a brokerage.

NSFX is regulated by MFSA (Maltese Financial Services Authority) so bear in mind that residents of the US will not be granted trading access. NSF is well established and has a neat range to offer aside from a choice of 2 forex trading platforms. In addition, they offer trading tools to assist you, as well as educational courses for the very new traders.

Account Types

NSFX offers 3 account types to choose from, including MT4 FIxed, MT4 ECN, and JForex. All accounts have the same leverage allowance (1:50), minimum trade size (0.01 lot) however the MT4 fixed account only offers fixed spreads while the other two accounts offer floating spreads. Note that the MT4 fixed account does not charge trade commissions while the other two charge $8 per lot per trade (round turn).

Platforms

The MT4 Fixed and MT$ ECN accounts both allow traders to use MT4 platform via the web based, iOS and Android versions. The JForex account uses an alternative platform, which some may not have heard of. The web and mobile versions (iOS & Android) are all available.

Leverage

Due to regulation policies, the maximum leverage allowed with NSFX is 1:50. Some traders may find this rather restrictive when it comes to maximizing profits on winning positions.

Trade Sizes

All accounts with NSFX have a minimum trade size requirement of 0.01 lot which is very reasonable and allows flexibility for the client.

Trading Costs

As mentioned earlier, the MT$ FIxed account does not come with trade commissions charges, however, the MT4 ECN and JForex account both charge $8 R/T which can accumulate and make trading with this broker rather costly, in comparison to other brokers. Swap fees are not mentioned and their live chat was unresponsive when we asked. Do bear this in mind though and check beforehand if you consider signing up.

Assets

NSFX does offer a good variety of tradable assets, however, what they do not offer is crypto pairs. With this broker, you may, however, trade the following: Forex, CFD Energies, CFD Indices, and Metals. A full list of all available instruments is available on the website.

Spreads

NSFX advertises that their spreads start from 0.4 pips. Bear in mind the MT4 Fixed account has just fixed spreads, while the MT4 ECN and JForex account both have floating spreads, starting from 0.4 pips which is competitive.

Minimum Deposit

NSFX is not very cheap to get started; the MT4 Fixed account requires a minimum deposit of $300 to get started. The MT4 ECN account has a minimum deposit requirement of $3,000 while the JForex requires a minimum sum of $5,000. This is an element of this broker that suggests it is not perhaps ideal for a first broker account for newer traders.

Deposit Methods & Costs

NSFX offers an incredibly wide range of methods to fund your account: Wire transfer, Verified by Visa with card, debit/credit card, Neteller, Skrill, and Fast Bank Transfer (which, ironically, has the least fast processing time of up to 10 business days as stated on the website). None of the deposit methods carry any fees by the broker.

Withdrawal Methods & Costs

Withdrawal methods are the same as the deposit methods available (Wire transfer, Verified by Visa with card, debit/credit card, Neteller, Skrill, and Fast Bank Transfer). The only two withdrawal methods that incur a fee (2.9% of the withdrawal amount) are Skrill and Neteller.

Withdrawal Processing & Wait Time

Withdrawal processing time scales are as follows:

• Wire transfer up to 2 business days
• Mastercard up to 1 business day
• Maestro up to 1 business day
• Visa up to 2 business days
• Skrill up to 1 business day
• Neteller up to 1 business day
• Fast Bank Transfer up to 10 business days

Bear in mind the time your funds actually take to reach you/your account can depend on your provider, so always good practice to check with your provider of choice before you request a withdrawal.

Bonuses & Promotions

NSFX is not able, due to their regulation, to offer such deposit bonus schemes or promotions.

Educational & Trading Tools

NSFX does offer some useful tools to assist you in your everyday trading including Economic Calendar, fundamental analysis, Financial news. In addition, if you are looking for some trading courses prior to trading by yourself, NSFX offers e-books, forex guides, and some helpful videos. All educational material is free.

Customer Service

NSFX offers customer support via Live Chat, Email, and Telephone. Hours of operation are not stated anywhere on the website which may explain why they were unresponsive via live chat on a Wednesday mid-afternoon (GMT +2).

Demo Account

You may open a demo account to test NSFX trading conditions to see if they suit you and your trading style, and to see if you would like to then move on to a live account if you are satisfied with their service.

Countries Accepted

Due to this broker’s FCA and MFSA regulation, residents of the USA would not be able to become a client of NSFX. Of course, as standard goes, if you were to register for a live account, you would need to provide proof of address, and at this point, you will be told if your residency is accepted or not.

Conclusion

This broker does offer a solid trading service, however, for many, this is deemed quite an expensive broker to trade with, compared to other brokers in terms of minimum deposit requirements as well as commission fees. Indeed, their leverage caps are also not particularly favorable to many, but that is the sacrifice one has to take when dealing with a regulated broker.

This broker is based in Indonesia and locally regulated by BAPPEBTI since 2005. GK Invest is a part of Global Kapital Group that also includes brands such as GKFX, GKFX Prime, and GK Pro. This is a large global corporation that encompasses 18 countries and 1 million clients. GK Invest did not apply for better regulatory supervision but this does not assume a bad value proposition to traders. This broker has put some effort to get closer to clients through solid marketing, tools, education, as well as in other areas that back up their promotions. Lately, GK Invest has officially become a sponsor of the Arsenal football club as a part of the GK group. How this mix delivers to the overall quality of service will be evaluated in the following sections.

Account Types

Some important information about the accounts on the GK Invest web site is missing, like the minimum deposit for each. A total of five account types is offered. They are scaled by minimum deposit, although we have divided them into two groups, one offers fixed spreads, the second variable spreads. Standard, Silver, Gold, and Platinum Account types all offer fixed spreads, 1:100 leverage, the same number of tradeable assets, commission, and the same stop out levels (10%). The other group with variable spreads consists of two accounts, Standard and ECN Zero. The ECN Account starts with 0 variable spreads but to our surprise, also with a 5 times larger commission.

An interesting offer to some parties is the “Multilateral” account option. To expand their modes asset trading range, GK Invest packed this option as something extra. Multilateral adds on commodity Futures trading with a mix of Gold, Oil, and Crude Palm Oil that is a specific commodity to Indonesia. This account option has limits to a minimum of 1 trade lot size, 60 million IDR (around $4261) minimum deposit, etc. No limits for withdrawals or deposit amounts. We are unsure if this is just a gimmick or interesting to Indonesia clients. Only USD and IDR as account currencies are possible.

Platforms

GK Invest is focused only on the Metatrader5 platform available in Web, Desktop and Mobile versions. Metatrader 5 is superior to MT4 in some aspects although many EAs and indicators are not yet available for MT5. This can be also perceived through the Market tab within the MT5 and the MT4 platform. GK Invest allows any type of EAs and trading strategies and they even state that you should backtest them first before going live.
The MT5 platform quickly connected to the server, everything set up to MT5 defaults. The execution times on the desktop MT5 are just below 200ms, good enough for fast trading strategies. The platform is updated to the latest version.

Leverage

Leverage is always constant with GK Invest. Whatever account you select the leverage will be 1:100. This level is enough for normal risk management strategies. For traders that rely on small accounts and highly leveraged trading will be disappointed. Stop Out levels are fixed to 10% regardless of account type.

Trade Sizes

GK Invest decided to ditch micro-lots and go with 0.1 minimum trade size. The step-up volume is also 0.1 lot. The maximum one trade can carry is set to 50 lots. This kind of trading environment is too rigid for any risk-sensitive strategies. By our estimations, anything below $1000 deposit could be considered overexposed with a minimum of 0.1 lot trade size. The Multilateral Account has a minimum trade size of 1 lot although this is a different type of commodity trading.

Trading Costs

GK Invest has a $2 commission applicable to all account types. The only exception is the ECN Zero account with the $10 commission. The swaps are a bit different across account types but all are within normal ranges. EUR/USD swap is 0.5 positive and -3.5 negative. Market information documents are very detailed and clear. Each account type has an associated market information document although not in English.

Note that we have noticed a fee statement from $2 to $30 depending on the account type, during the real account registration process at step 2. We are not sure why this information is not in correlation with the commissions ($2-$10).

Assets

The asset range is modest by all means. None of the categories are wide enough to be considered a specialty of GK Invest. Forex has a total of 27 pairs. As per GK Invest’s statement, they try to differentiate by offering less liquid currency pairs, but we did not find any exotics, not even the local IDR, just the major cross pairs.

Indicies range is limited to majors and also tradeable like Futures CFD. A total of 6 major indices are listed on the MT5 platform, like the S&P 500, Dax, Dow Jones, and the rest.
Metals category is present but limited to just Silver and Gold. The trading session has a one-hour trade break every day. Although this is common with all brokers, GK Invest is also missing quotes feed during that time.

The commodity category offer is almost non-existent. Crude Oil is the only asset offered here, apart from the Palm Oil available only with the MULTILATERAL Account. GK Invest mentioned WTI and Brent oil, but these are not listed in the MT5 platform.

Company stocks category is, as with the rest of the GK Invest offer, very limited to major big, popular companies only. We fount a total of 16 companies like Microsoft, Alibaba, Amazon, Google, Netflix, although Apple is not on the list.

Note that GK Invest has an interesting category named “Inactive”. This list of assets that do not receive any signal from the servers has some instruments not found in the categories above. We can only assume that this may be a future expansion plan for the GK Invest assets offer.

Spreads

GK Invest has both variable and fixed type spreads, depending on the account type. ECN Zero states spread from 0 pips, in practice, the MT5 platform showed at least 1.3 pips for the EUR/USD. This value went up to 3.7 pips for the Standard fixed account type. In the metals category, the spread started from 37 to 60 pips for the XAU/USD. Interestingly, for WTI Oil futures, the spread was just 0.5 pips, significantly lower comparing to other brokers. S&P 500 always had 10 pips spread regardless of the account type.

Minimum Deposit

GK Invest stated that the minimum deposit is $200, although this does not apply to all account types. The Multilateral Account requires around $4200 or 60 million IDR.

Deposit Methods & Costs

The only possible method is by bank wire. The transaction cost is the sole responsibility of the client. If you make a transfer from a bank other than BCA (Bank Central Asia) or transfer it in USD, there may be a transfer fee charged by the bank. GKInvest does not charge any fees for the deposit process. This bank also holds segregated GK Invest client accounts.

Withdrawal Methods & Costs

GK Invest deals only with the bank wire fund transactions, so as with deposits. The costs are covered by the broker. Note that the minimum amount for withdrawal is $10 or 100.000 IDR. The absence of Credit cards also means that investors do not have a consumer protection policy that VISA and MasterCard companies offer. Withdrawal requests are limited to once per day.

Withdrawal Processing & Wait Time

The withdrawal processing is done in 1 business day by GK Invest. For the local Indonesian clients, the amount should be reflected in their bank account within 24 hours. For international transfers, it depends on the bank but not longer than 7 business days.

Bonuses & Promotions

There is no information about any kind of bonuses or promotions. For this reason, we assume there is none.

Educational & Trading Tools

GK Invest put some effort into education and some tools. The approach is genuine and careful to beginners and this leaves a nice impression on the visitors. The education section contains courses, videos, and webinars. Courses are just a few pages about general trading and provide some good and practical information on how to start everything up. Basic but important terms are nicely explained. The MT5 platform elementals are also very good for beginners.

There are no marketing biases to this material. The videos section does not contain high-quality material although there is one original webinar video that is 33 minutes long. Some educational sections are not complete like the webinar and weekly analysis. Still, a lot of updated content could be found on the GK Invest Facebook page, as well as other social media. Surprisingly, the GK Invest YouTube channel has a vast array of trading videos, some even longer than 1 hour. It remains unclear why the website webinar section is not complete.

The GK Invest tools offer is above average as it contains the Economic Calendar, simple profit Calculator based on pips and lots, Currency Converter, Trading Central, AutoChartist, News, the MT5 Booster, FIX API, and the free VPS service.

The Economic Calendar has great features and is completely custom made. The filter options are numerous and useful, although maybe a bit cluttered. Each event is described with a full-width history movement chart, source link, impact meter and filter with the saving ability.

Trading Central services are available and with the full ability to insert the signals and indicators to the desktop MT5 platform. Clients would need to contact GK Invest support for installation.

GK Invest’s MT5 Booster is a package of their proprietary set of indicators and applications for the MT5 platform. This package is for clients who deposit at least $2500 and features a more advanced Alarm Manager that can close positions, a custom Trade Terminal, Correlation Matrix, a kind of sentiment indicator, Session Map, better Market Watch, Excel RTD app, and a Mini Terminal.

The News service is updated with some basic technical analysis such as support levels, pivot, etc. This is maybe the least usable element of the GK Invests’ tools as it does not provide the information quality that more advanced traders may need.

Finally, the AutoChartist service is available and the page is oriented to present the possibilities and how to set it up. To wrap it up, GK Invest additionally offers VPS service as well as FIX API.

Customer Service

The GK Invest shows professionalism within their support staff. The chat service is available on the website but it seems just to send the message like an email. Still, the approach to the client is professional and ethical. All the support desks are neatly presented with a specific email, phone number and working hours. GK Invest would have above-average customer support if not for the missing chat feature.

Demo Account

GK Invest has a well-designed sign-up process for the Demo Account. The email you will receive will contain both the credentials for the MT5 platform and the client’s area on the web site. The demo account will show the swaps but not the commissions of a real account. Leverage, spreads, and the rest of the real environment should be reflected within the demo. After 30 days of inactivity, the account will be closed, although traders can always open a new one easily.

Countries Accepted

Since the complete GK Invest website and the material contained is not in English we assume that this broker accepts clients from Indonesia only.

Conclusion

During 2019, this broker claimed the number one spot in Indonesia in the transaction volume category within the Futures Exchange. Also, GK Invest holds the best broker award in 2018 for Indonesia. The local regulation does not have the prestige, insurance, and some other benefits that the largest have like the FCA, NFA, etc, but still, GK Invest shows a very detailed and secure way of accepting business. The drawback is the asset range, not open to international clients, one deposit/withdrawals method, and somewhat high trading costs compared to other brokers. Note that GK Invest offers ECN accounts but may also act as a market maker.

Visitors to the eMarketTrade’s web site will not understand what kind of broker this is. There is nothing that points out to a company except a single instance: “Kalessica Limited” in the footer. There is no location or anything mentioned about this company. After some research, we found out this is a company in Cyprus without any license to offer CFD or any kind of digital assets trading. The origin of the capital points to Bulgaria, one of gathering places for scam and prohibited broker companies from Israel. Still, we will cover each section for additional research and present what traders can expect.

Account Types

There are six account types, a table of packages scaled to the deposit level. Moreover, eMarketsTrade has two products CryptoFX and SimplexCrypto. They are the same thing except the Simplexcrypto is more tailored to beginners and is just a platform layout, not a product per se. The most affordable account type is the Bronze Chain starting from a $2.500 deposit. This account has the least of 18 features listed possible and is limited to Trading on the platform, Daily market review, webinars, and Financial market introduction.

The next tier account is Silver Chain, adding on top a Personal manager, Risk management Team and no maintenance fee. This Account type requires at least a $5000 deposit. As we go up to Gold, Platinum, and Diamond Chain type, the rest of the features are available as well as the higher deposit requirement. The Diamond Chain Account requires a $100.000 deposit with all the options like Welcome Bonus, Diamond Chain bonus, Executive crypto indicator, etc. Overall, the deposit requirements are among the highest we have seen in the industry, especially when looking at the VIP Account that requires a $250.000 deposit.

Most of the features overlap with the same function and few fees relief (like the maintenance and the withdrawal fee) that are not mentioned in the eMarketsTrade Terms and Conditions. Account types do not differ by offering a different trading environment or spreads, just by added features similar in nature.

Platforms

There is only one platform available through the web and its origin is not clear. Once a client registers, he will be able to see it after skipping the deposit process. There are two layouts CryptoFX and SimplexCrypto, also presented as products on the eMarketsTrade web site. SimplexCrypto layout hides the chart completely and lists cryptocurrencies and tokens only. To trade, clients just need to click the “invest” button. This is an attempt by eMarketsTrade to hide complex looking parts and make everything simple for beginners. CryptoFX layout includes the chart and all the available assets to trade.

The chart is based on TradingView although the same chart for BTC/USD showed a completely different price level from the TradingView.com web site chart. This was a very weird issue and seemed like a fake presentation. This was confirmed when refreshing the chart after some time. The price spike candle was always shiting to the right like it never happened before. After 15 minutes another spike is presented on eMarketsTrade chart except for this time it was a bullish candle, without a trace of the previous one.

To the right traders will see the market news feed from Investing.com that are updated but they cannot be filtered for any category, just randomly listed as they come out. Still, the news is very good and can be of use. The platform supports pending orders, take profit and stop loss that can be set by price or in pips distance. Besides, the orders can be set to expire. On the left side of the platform is the instruments list that can be set to view as a list or box, with some basic information about the daily change and current ask/bid. The spread is not presented anywhere on the platform, even manually it is hard to calculate unless using a screenshot as the price updates every second.

On top, the chart features different styles of price representation so traders can set to view as Heikin Ashi, Area, Hollow candles, Bars, etc. Indicators can be added and there is over 70 most popular. We have noticed an issue when adding any indicators that had a volume factor in their formula as none of them appeared on the chart. Even the simple Volume is not visible like it is blocked. Anyway, the rest worked as intended and could be set like with the TradingView. An additional feature is the comparison of different assets for any trader that wants to identify correlation patterns. Traders can also draw lines, shapes, channels, add text, etc.

Apart from the eMarketsTrade web platform, the mobile version is presented on the web site. When downloaded for Google Play, traders will also receive the $20 bonus, $50 free trade if you like the app and review it, and for deposits of $1000 – two Diamond Chan Account type signals. Unfortunately, we found out that the app does not exist on Google Play, all these pages and promotions are in vain.

Leverage

The leverage levels are not known. According to the eMarketsTrade support by default is 1:100. We have measured this form the platform to confirm this leverage level. For Crypto, the leverage was 1:20 and for Metals 1:10.

Trade Sizes

By looking at the web platform we did not find anything less than 1 for Bitcoin, which is very high. For Currencies, trade sizes are in units, from 1000 or 0.01 lots. The same trading size options are given for all Forex pairs. For Gold trade size was from 0.1 units and for Indices 1 unit.

Trading Costs

eMarketsTrade does not have commissions. No information on other fees is available except some are mentioned in the Account types comparison that we were unable to confirm. The trading cost falls to swaps only and they are under normal levels. None of the swap levels are positive for any trading instrument however for BTC swaps are low compared to other brokers at -1.5 points. EUR/USD, on the other hand, had -27 points on both, long and short sides. Higher than for example USD/CNY that had -25 on both sides. Generally, the swaps did not have any difference whether a trader goes long or short, all instruments had the same or similar negative swaps.

Assets

If traders select the CryptoFX layout in the platform, all the assets will be listed. eMarketsTrade has an average number of assets and focuses on cryptocurrencies.
Forex offer covers all the majors, minors and some exotic pairs like the USD/CNY, USD/RUB, and Scandinavian currencies (DKK, SEK, NOK) making a total of 32 pairs.
Stocks are limited to 24 companies and banks, like Apple, Ferrari, Nvidia, Facebook, all well known to a wider audience.

In the metals and the commodities range, eMarketsTrade does not have much to offer considering they are specialized in crypto. A total of 3 metals and just two commodities – Natural Gas and Oil. Gold, Silver, Platinum are available from the metals category.
Finally, where eMarketsTrade shines – Cryptocurrencies. On the list are Bitcoin, Bitcoin Cash, Litecoin, DASH, Ethereum, Ripple, Monero, NewEconomyMovement, Stellar Lumens, Zcash, IOTA, NEO, Cardano, and Golem token. All these cryptocurrencies are also available to trade in Bitcoin crosses like LTC/BTC, IOTA/BTC and the like. This range of crypto is certainly above average comparing to other brokers.

Spreads

The main issue is that the trading conditions and spreads are nowhere on the eMarketsTrade website. Whatsmore, their platform does not show the spread at all. There is no document to ask or download, so we had to calculate manually. Starting from the BTC/USD, the spread is around 200 pips which are way above any average industry benchmark. A similar spread percentage follows other cryptocurrencies. Forex spreads are also a bit weird, EUR/USD is at 7 pips, but GBP/USD is just 0.4 pips. Where USD/JPY is 4 pips where a more exotic USD/CNY is 3 pips. We are not sure if this is in purpose to keep the spreads high for more popular pairs or just the issue with eMarkeststrade liquidity providers.

Minimum Deposit

The minimum deposit is confirmed bu the support to be at $250. The information on the Account types seems to be just marketing, including the fees that do not apply in practice. Therefore, the first tier package called Bronze Chain requiring a $2500 minimum deposit is not the actual minimum you need to start trading with eMarketsTrade.

Deposit Methods & Costs

After registration and getting access to the trading room clients will be presented with deposit options. We can confirm that only Credit/Debit Cards are available through the Vogue Pay service processor or using the Vogue Pay wallet itself. This payment service processor is from Nigeria with solid ratings. There are no fees charged by the eMarketsTrade for deposits. The maximum deposit transaction amount is $10.000.

Withdrawal Methods & Costs

The initial deposit will be funded to the Credit/Debit Card used. Any profits will be funded using a bank transfer. The minimum withdrawal to a credit card is $25 and for bank transfer is $100. In other words, if your balance is lower than $25 you will not be able to withdraw. Also, if you have a profit below $100 mark, eMarketsTrade will not allow bank transfer withdrawal. There are no fees for withdrawals charged by the broker, despite the features stated in the Account Types section.

Withdrawal Processing & Wait Time

Once all the client documents are verified, eMarketsTrade will process the withdrawals as soon as possible, although the exact time frame is not stated within the Withdrawal of funds Policy document. Usually, it should not take more than 7 days for bank transfer but the support staff cannot confirm this.

Bonuses & Promotions

The bonus is featured everywhere on the eMarketTrade web site. Ther is also a Bonus document stating all the conditions. The bonus amount seems flexible and you can probably make a deal with the broker. As with many bonus types, a certain amount of trading volume is required for the bonus to be released. In the case of eMarketsTrade, it is 40 times the bonus and deposit amount. Bonuses are not reversible, so you cannot ask to cancel it. The conditions are too complex in case a trader does not reach the required turnover, what we have concluded that a trader should be able to withdraw their initial deposit in case of realized profits, but in case of a loss, it could mean many consequences that are not described. We are not able to confirm negative balance protection from this broker.

Educational & Trading Tools

The Academy section provides material that looks like is taken from other sources (MTE-Media) as the Metatrader platform which is not supported by eMarketsTrade is also described. The ebooks collection will be fully available once a trade has registered, no deposit is necessary. The quality is average but a lot of trading content is covered.
The analysis section is divided into Technical and market summaries. Videos could not start no matter how hard we tried. The technical is fresh but mostly basic without any deep and accurate analysis. Market summaries are almost useless as they come down to arrow showing up or down as a suggestion for each of the listed assets.

The Economic Calendar is available and it is basic without any filters or features. The description for each event is good though. The Market News section is fresh and updated daily. Most of the news id focused on cryptocurrencies and is very short and does not give any insight although good to make traders interested and find out more on the internet.

Customer Service

The representatives are not working full time, 9-5 pm and Fridays until 1 pm. The broker is available by phone, chat, and email. The quality of service you will get is not good, the support staff will answer your questions sporadically, and ignore if you are not a potential client. Comparing to the industry standard the support service is below average.

Demo Account

At first look, there is no demo available. eMarketsTrade does not want traders to practice on their platform as they may notice the inconsistencies with the price movement. Anyone interested to see the platform without investing can do it by skipping the deposit step and log in with the email and password. The support will not tell you this is possible but guide you to make a minimum deposit. We are unsure if they are willing to fund that demo account.

Countries Accepted

The United States of America and Israel residents are not accepted. Also, some other countries that eMarketsTrade deems unacceptable.

Conclusion

This unregulated broker has some user reviews on broker benchmarking sites and all are very negative. Many have reported manipulation of various kinds, money extortion, conditional withdrawals, hyping and trading on their own will, using TeamViewer and other similar remote control applications to access client’s sensitive data such as bank statements, and many more red flags. As for trading, the biggest strength of eMarketsTrade is in the cryptocurrencies, although the spreads alone will divert anyone who understands the basics of trading.

This broker has a well-designed web site that shows the regulation and education as their prime attraction points. ITRADER boasts about the availability of multiple platforms, a great range of assets, and quick withdrawals. Reading what the company has to offer, it does not go far from the usual, overused phrases most traders just skip. Be warned, from the start, until you make a profile, you will be redirected. ITRADER has alternative domains such as global.itrader.com that is used to redirect once you type in your residence. If you are not in the European Union, you will stay at www.global.itrader.com and be open to fraud risk.

This is one type of manipulation method and a cover-up under offshore companies and regulations. Domain – global.itrader.com is completely different in terms of regulation, the company, location, name, etc. Taking this serious issue into consideration, we will review the regulated ITRADER.com platform under CySEC licensed company, Hoch Capital LTD (no 198/13, www.itrader.com). The mentioned domain is owned by a cover, Bayline Global World LTD company, in Belize. Note that once a client logs out, the main www.global.itrader.com domain will return. Additional information about this issue is in the Conclusion.

Account Types

ITRADER offers 3 account types. Silver Gold and Platinum. They differ by the spread, leverage, swap discounts, and some additional services. Silver account has the widest spreads and clients will not receive a dedicated Account manager, videos, webinars, news alerts, and a VPS service. The minimum deposit value is not mentioned for any of the account types, more info on this in the Minimum deposit section. Gold type account has the assigned Account Manager, videos/webinars available, and a 25% swap reduction.

The most prestigious Platinum type account has the best spreads, higher possible leverage, news alert, a VPS service, and 50% reduced swaps. The overall offer has some bundled services that could be useful like the VPS. The quality of the videos and webinars is ok and probably is not better with the assigned Account Manager. Islamic Account is available and traders that want to apply have to contact the iTRADER management through the client portal.

Platforms

ITRADER is focused on the Metatrader 4 platform only. It is available as a web, mobile, and desktop versions. Interestingly, Google Play has an iTRADER app that is not like the standard MT4. This app has a 3.4 rating but only good reviews can be seen as the bad ones were deleted. It is not offered for download anywhere on the site, the regular MT4 Mobile by MetaQuotes is.

To download the platform, traders need to log into the iTRADER’s client portal and find them under the platforms section. Once they have requested an account, they can log in with the credentials provided.

 

The desktop MT4 is regular, by default, updated, uncustomized with the one-click trading buttons visible. The server response is good and it does not take long to log in. On average the order executions took 500ms, which is below standard for an ECN broker in our opinion and leaves a lot of room for a time type slippage. Most ECN brokers should have at least 200ms execution time.

Leverage

The leverage levels presented on the web site are for professional clients. ITRADER is also under the MiFID II directive and European Securities and Markets Authority (ESMA). As such the default leverage is set to 1:30 upon registration for all account types. To apply for greater leverage like 1:50, 1:200, etc, traders have to submit a request and pass certain requirements. We have noticed some contradictory information when comparing the web site information, Terms and Conditions, and the Contract Specifications document. Namely, the website just mentions the leverage for professional traders, not for retail. Probably because It was not attractive enough. Even that is not in-line with the downloadable legal documents.

To eliminate any confusion, we will give out the official levels from the Contracts document. For retail traders, Forex leverage is 1:30 for major pairs, 1:20 for others. Metals and Indicies have 1:20, Commodities 1:10, equities 1:5 and Crypto 1:2.

Trade Sizes

For retail clients, minimum trade sizes are set to 0.01 lots. For professional traders, this level is increased to 0.1 lots. From the platform, we have detected other levels. The minimal volume was 0.1 lots with the increment steps in 0.01. Only the cryptocurrencies had a minimum of 0.01 lots. A single decimal makes a lot of difference. This is a serious issue with anyone who is following strict money management where any 0.1 lot order would be too risky. We can openly claim that this practice is another way of forcing clients to trade and probably lose their funds, especially taking into consideration all the inconsistent information from the official iTRADER sources.

Trading Costs

ITRADER claims to be an ECN broker, and unlikely to other ECN brokers, does not charge commissions. Now, the commissions are mentioned in the legal documents but we have not encountered them for trading. The spreads are not that tight so iTRADER probably makes up for the lack of them.

Swaps are under normal levels and there are some positive values. For example, the EUR/USD has a -8.3 long position swap and 2.7 points positive on long positions. For Gold, it is -10.2 on both sides and for BTC/USD -78.75 points per coin! ITRADER has a lot of cryptos to offer, but traders need to pay attention not to leave positions overnight for too long as it is -1% daily interest.

The above values come from the MT4 platform feed, but the swap list on the iTRADER’s web site is completely different. Not that the swaps are all negative, but also extremely high. Any investor willing to trade with iTRADER should be well informed about current swaps directly from the iTRADER support.

Assets

ITRADER provides all usual asset categories except EFTs. Overall a wider range than average in the industry. Starting with Forex, a total of 53 pairs is offered. Noted exotics are USD/RUB, USD/INR (Indian Rupee), USD/PLN, EUR/HUF, and Scandinavian currencies. Israeli Shekel against the USD is listed but trading is only for 3 hours.
From metals, Gold and Silver are on the list on spot. Palladium, Platinum, and Copper are CFD Futures. A full range in this category.

Commodities offer is great. As CFD Futures there are Corn, Cocoa, Coffee and more. A rare find is also Orange Juice. Oil types are not excluded, with the addition of Natural Gas and Gasoline.

From shares, traders will find all they need, just not the most demanding ones. Shares from major companies all around the world, from different stock exchanges can be found.
A total of 25 indices are offered. Apart from the majors, rare ones like the Tel Aviv and Saudi indices can be found.

ITRADER Crypto list is interesting. All the majors and some minors can be found like the Bitcoin, Bitcoin Cash, Ripple, Ethereum, Litecoin Zcash, Dash, Zcash, and ETH classic. What is interesting is that mentioned coins can be found denominated also in EUR, USD, and GBP.

ITRADER’s asset range is good, not leaving out any trader category. Certainly, this is one of the iTRADER’s strong points.

Spreads

Depending on the Account type the variable spreads are scaled to the deposit levels. Silver Account has 2.2 pips for the EUR/USD, Gold 1.3 pips and the final Platinum Account has 0.7 pips spread. The information for the XAU/USD states it is 0.59, 0.48 and 0.37 pips which are incorrect. It can only be 59, 48, 37 pips, but we are unsure if this is just a mistake or in purpose for marketing. For BTC/USD the starting spread is 50 pips which is larger than average. Generally speaking, iTRADER does not shine in the spreads category but not bad either.

Minimum Deposit

ITRADER obscures this information and also states different amounts from different sources. Starting with the account types table, potential investors do not see this. To find this info using the iTRADER website, go to the FAQ section where the minimum deposit is stated at 250 EUR/USD/GBP. The same amount is mentioned in the Contract Specifications document located last in the footer. Yet, when we logged into the client portal, we found that the minimum deposit was $500 for any method, be it Credit Card, Bank Wire, or wallets. The maximum was $5.000 to $30.000 depending on the method.
Interestingly, there is also the “Alternative Deposit” method. Here the minimum deposit is $1000 whatever the method you select. In our book, providing traders inconclusive information about deposits is a serious issue.

Deposit Methods & Costs

ITRADER does not charge anything for deposits. The bank or e-wallet transaction fees are not covered by this broker. Investors can use Wire transfers, Credit Cards and e-wallets like Skrill, SEPA, Trustly, Klarna, Rapid transfer – all under Skrill. From the “Alternative Deposit” methods you will have Credit Card and other methods that go via another processor. This way of deposits is usually available if the broker has issues with credit card denials.

Withdrawal Methods & Costs

Apart from the fees not charged by the iTRADER, traders need to know that this broker will charge a withdrawal fee of EUR 50 if there is “insignificant (only one single position placed on the trading account)” volume, or in case the client wishes to withdraw less than $100. Apart from this fee, iTRADER will not cover the costs of transactions by third parties.

Withdrawal Processing & Wait Time

ITRADER will process the request from the client’s area in one business day. The funds should be reflected in the trader’s account in 5-7 business days.

Bonuses & Promotions

If you are registered with the regulated iTRADER in the EU, there are no special bonuses or promotions except the mentioned Swap discount that is for Gold and Platinum Account types.

Educational & Trading Tools

ITRADER is using the MTE media material and education scheme. This company provides good, easy to follow, basic education for beginners. In our opinion, the information is geared towards sales and not always deep enough. Most, if not all of the material is could be found on some popular learning web sites for free. The internet is overwhelmed with these practices that certainly are not the best traders can find. Still, iTRADER has covered the Educational section better than most brokers in the industry, with videos, articles, e-books, and more.

Customer Service

This broker has a phone, chat, and email communication channel. Also, social network pages are managed and updated with attractive trading hypes and content for amateur traders. The iTRADER Facebook message response rate is within a day. The chat service from the website is a bit time-constrained and is not 24/7, more like from 9 am until 9 pm, Monday-to Friday.

Demo Account

Speaking of the demo account, know that first-time visitors will be under the www.global.itrader.com domain where the demo is offered clearly. In essence, this is a live account registration process where visitors will be questioned and assessed to the document ID upload and, finally, deposit. Anyone inexperienced with the process (trick) will not know that the client portal account is created once the email is submitted.

The 6 step process can be closed midway and users will be automatically logged in to the iTRADER site. Of course, as mentioned, only if you are from the EU, you will be redirected to the CySEC regulated www.itrader.com after this. This unethical and manipulative practice is not sanctioned by CySEC. Although, Hoch Capital Ltd, owner of the iTRADER platform, was fined. More on this issue in the Conclusion.

Countries Accepted

ITRADER does not accept customers within the United States, Australia, and Belize. Although, the exact and correct information about this is obscured. We have found that Israel is also not on the list when applying for registration. This also suggests that iTRADER is found by Israeli capital.

Conclusion

This broker has a few major issues even though it gives traders good value at first glance. Firstly, the issues about www.global.itrader.com, shady off-shore “Bayline Global World” company and the manipulative registration process already described above. “Bayline Global World Ltd” is not typed as letters but put as a picture. This website is also designed with the user-select function that prohibits visitors to select the name of the company with the mouse. And many more practices that point to fraud. Finally, on the 27th of March 2019, Hoch Capital Ltd was fined 200.000€ by CySEC for compliance breaches about the information released to clients and investment practices. The official document about this can be found on the CySec website.

ISIK FX is an MT4 broker that does not appear to be all that well known, despite operating since 2013. They are regulated by the Capital Markets Board (Turkey).

Account Types

The website does not give specific advantages to their live accounts but instead link you right to the registration page to sign up. This is not particularly helpful, so we had to scout the website to find the benefits to the accounts, without the help of any FAQ page. ISIK FX offers only one 4 accounts Platinum, Gold, Silver, and Standard, all of which are compatible with MT4 with fixed spreads.

Platforms

As mentioned, ISIK FX offers the trusted MetaTrader 4 platform. You may use Web Trader, Desktop or the Mobile version.

Leverage

It is very odd that the website does not tell us the leverage available to use however quick online research on CMB Turkey (Capital Markets Board regulation body) tells us that the maximum leverage offered is 1:10. This is not very favorable and can make maximizing profits quite difficult for some traders, especially those that trade smaller capital.

Trade Sizes

Trade sizes (minimum/maximum requirements) are not mentioned so this is not something we can comment on at this time.

Trading Costs

It is not mentioned what, or even whether commissions are charged via ISIK FX. The same case is with Swap fees. However, bear this in mind as at least one is likely to be applicable.

Assets

With ISIK FX you can trade over 50 Currency Pairs, Commodities, Indices, and Stocks. The link to the full list on the website is in fact broken so you would need to download the demo to see the full available list of instruments.

Spreads

It is frustrating that the link on the website to the spreads is not working, so we cannot comment on how competitive their spreads are at this time. The only information available is that their spreads are fixed, and not floating. This seems to be applicable to all 4 account types.

Minimum Deposit

Assumably, the minimum deposit would vary according to the 4 account types, however information regarding advantages to each account is not even displayed on the website, so, unfortunately, we cannot comment on this at this time.

Deposit Methods & Costs

The broker website is really not easy to navigate and pinpoint information, and also a lot of it is not translatable from Turkish. Even after some thorough perusing, we were unable to find specifically the deposit methods available.

Withdrawal Methods & Costs

We experienced the same issue with withdrawal methods as we did with trying to locate the deposit methods on the website. Unfortunately, this is not something we can comment on at this time.

Withdrawal Processing & Wait Time

We were unable to find the withdrawal methods thus it was impossible to find the withdrawal timescales. It would be prudent to check with client support on a preferable deposit/withdrawal method that you are familiar with, to see if it is available before you go ahead and register an account with them.

Bonuses & Promotions

There is no mention of deposit bonus schemes listed on ISIK FX website.

Educational & Trading Tools

ISIK FX does offer some educational tools to assist you in developing yourself as a trader. There is ample free reading material and some videos but unfortunately, the videos seem to have an error, and cannot be accessed. No matter, there is plenty of free trading education material online, if you know where to look.

Customer Service

ISIK FX can be contacted on a 24/6 basis, via telephone, email or live chat. There is also a facility whereby you can request a call back at a time that is convenient for you.

Demo Account

ISIK FX offers a demo account to trade via so you can see if their live trading conditions would be suitable for you and meet your expectations as a trader.

Countries Accepted

There is absolutely no wording in relation to which residents are allowed to trade with this broker, and which are not. The only way to tell really is to sign up and since you will need to declare your proof of residency, it is only then you will be accepted or declined.

Conclusion

This broker barely provides any of the most basic and standard information you should know before even considering a broker, let alone opening an account. Without knowledge of what you would be involving yourself into, we feel it is best to conduct thorough research and fully consider whether this sort of broker is worth your while and risk.

FXTM is an award-winning online forex and CFD broker with a client base that has grown to more than one million since its establishment back in 2011. This broker is a well-known and trustworthy option, due to their regulation by the Cyprus Securities and Exchange Commission and the Financial Sector Conduct Authority (FSCA). The company is located in Cyprus. Since this broker offers six different account types, there is a lot of information one would need to review before deciding whether to open an account. We will say that this broker offers several competitive advantages, but you’ll want to keep reading to find out more.

Account Types

This broker offers six different account types, with the options being the Standard, Cent, Shares, ECN, ECN Zero, and FXTM Pro accounts. The Cent account is essentially a version of the Standard account with a lower deposit requirement, similar spreads, and smaller trade sizes. All of the accounts differ significantly when it comes to the deposit minimums, spreads, minimum and maximum trade sizes, number of products available for trading, platforms supported, and more. All accounts offer competitive trading costs, including spreads. There is so much to take into consideration, so we hope you’ll continue reading to ensure that you choose the best account type for your own personal trading style. Below, you can view a quick overview of each account type.

Standard Account:

-Minimum Deposit: $100
-Leverage: up to 1:1000
-Spreads: from 1.3 pips
-Commission: None

Cent Account:

-Minimum Deposit: $10
-Leverage: up to 1:1000 (FX), 1:500 (Spot Metals)
-Spreads: from 1.5 pips
-Commission: None

Shares Account:

-Minimum Deposit: $100
-Leverage: 1:10 fixed
-Spreads: from 0.01 pips
-Commission: None

ECN Account:

-Minimum Deposit: $200
-Leverage: up to 1:1000
-Spreads: from 0.1
-Commission: $2 per lot

ECN Zero Account:

-Minimum Deposit: $500
-Leverage: up to 1:1000
-Spreads: from 0.01 pips
-Commission: None

FXTM Pro Account:

-Minimum Deposit: $25,000
-Leverage: up to 1:200
-Spreads: from 0 pips
-Commission: None

Keep in mind that you’ll need to submit a few documents for personal verification with this broker. On their website, the company states that accounts are often approved within the same day. Make sure that you upload your personal ID and address document as early as possible to ensure that support has everything they need to review your account quickly.

Platform

Unlike many of their competitors, FXTM actually offers both the MetaTrader 4 and MetaTrader 5 trading platforms. Typically, we only see one option or the other, with MT4 being offered most commonly. Therefore, if you’re a clear fan of the MT5 platform, you should be happy to see this option. If you’re trying to decide which platform to use, you should know that both are available on desktop, web, or mobile, and links can be accessed from the broker’s website. MT5 is the newer version of the platform, but many still prefer to use the classic MT4 platform. However, MT5 does offer more timeframes, pending order types, technical indicators, and more. Note that only the Standard, ECN, ECN Pro, and FXTM Pro accounts may opt to choose between the two platforms, while the Cent and Shares accounts will be trading with MT4.

Leverage

FXTM offers floating leverage options from 1:1 up to 1000:1. Their outstanding leverage cap provides traders with the ability to trade with 1000 times their buying power and to trade a larger volume while only making smaller deposits. We must point out that trading with high leverages, especially with one as high as what this broker offers, can be risky. It is best left to more experienced traders that prefer a high-risk high-reward experience.

With that in mind, it is still a great advantage to have the option to select leverage this high and any beginner could start with a more realistic leverage and possibly work their way up in the future. Note that this option is available on the Standard, Cent, ECN, and ECN Zero accounts. The Cent account only allows for a leverage of up to 1:500 on spot metals. The Shares account offers a leverage that is fixed at 1:10, while the maximum leverage on the FXTM Pro account is set at 1:200. Still, options are higher than the industry average for all account types, aside from the Shares account.

Trade Sizes

The minimum allowed trade size is 0.01, or one micro lot, on all account types. Meanwhile, the maximum trade size differs much more significantly, based on which account you’ve chosen. The Cent account was designed to support a smaller trading volume, so the maximum trade size is set at just 1 lot on this account type. The maximum trade size is 10 lots on the Shares account and 30 lots on the Standard account type. From there, options climb much higher, with a 100-lot size on the ECN and ECN Zero account, and an impressive 250 lots being offered for the FXTM Pro account. Like the maximum trade sizes, the accounts also come with a varying margin call and stop-loss levels. Those levels can be viewed below.

Margin Call/Stop Out Levels:

-ECN, ECN Zero, FXTM Pro: 80%/50%
-Standard Account: 40%/20%
-Cent Account: 60%/40%
-Shares Account: 40%/20%

Trading Costs

Brokers typically make a profit through spreads, commission charges, and swap fees. Fortunately, FXTM does not charge commission fees on the majority of their account types, which can provide a financial advantage to choosing them as a broker. The only exception would be the ECN account, which charges a commission fee of $2 per lot, although this is made up for by the much lower than average spreads. Speaking of spreads, we will mention that the majority of the accounts with this broker offer lower than average options. More on that later.

There are also swap free versions of all of the account types available on the MT4 platform, although this isn’t offered on the MT5 platform. Overall, trading with a bigger broker like this one can really provide an advantage when it comes to trading fees, since the broker is able to almost completely wipe out commission fees, offer lower than average spreads, and provide swap-free options.

Assets

FX, cryptocurrencies, precious metals, oil, indices, and stocks make up this broker’s impressive asset portfolio. However, one should note that the number and variety of assets available actually depend on the chosen account type. Also, there are more options available within the MT4 platform. The Standard account is the only account that offers cryptocurrencies and seems to offer the largest variety, with 50 majors, minors, and exotics, 5 spot metals, 14 spot CFDs, and 4 cryptocurrencies being available within the MT4 platform.

The ECN and ECN Zero accounts come in second place when it comes to the number of offered products, with 48 majors, minors, and exotics, 3 spot metals, and 14 spot CFDs being available. Note that the only options for the Standard, ECN, and ECN Zero account on MT5 would be 33 majors, minors, and exotics and 2 spot metals. The Pro account offers 43 majors, minors, and exotics and 2 spot metals within MT4, but offers 33 majors, minors, and exotics, 2 spot metals, and 10 stock trading options within MT5. The Cent account has fewer options, with 25 majors and minors and 2 spot metals available. Finally, you’ll find more than 180 plus shares available on the specialized Shares account.

Spreads

FXTM mentions on their website that spreads on EUR/USD start as low as 0.01. Spreads on this asset are typically the lowest you’ll find, which is likely why the broker chose to use this particular pair in their example. Note that the FXTM Pro account actually offers spreads from 0 pips, so you won’t be able to find a lower option elsewhere. Spreads start from the 0.01 pip example on the Shares, ECN, and ECN Zero accounts, while spreads are from 1.3 pips on the Standard account and from 1.5 pips on the Cent account. This means that all of the account types, aside from the Cent account, are offering less than the average 1.5 pips offered by their competition.

Another plus is the fact that the spreads are competitive on all of their account types, so you won’t be missing out on the savings if you opt for one of the account types with a lower deposit minimum. Another thing to take into consideration would be the fact that these lower than average spreads are offered in addition to zero commission fees on the majority of account types. Usually, a lack of commission fees would mean that spreads would be higher than average.

Minimum Deposit

The minimum deposit requirements with this broker range from just $10 to $500 for all of their account types, except for the FXTM Pro account. If you open a Cent account, you’ll only be required to deposit $10, while there is a $100 requirement for the Standard Account and Shares account. The ECN account requires a deposit of $200. None of the amounts so far are intimidating, so these could be great options for anyone that is apprehensive about making a deposit. Moving up, the ECN Zero account type requires a larger deposit of $500.

Overall, the largest deposit amount may be a little high for some traders, but it is nice to see more realistic deposit amounts for most of the account types with this broker. Elsewhere, you’ll often need to make deposits in the thousands and upwards to open an account that mimics this broker’s cheaper ECN Zero account. The most expensive account would be the FXTM Pro account, which requires a minimum deposit of $25,000. Obviously, this account type is meant for professional traders that have the means to make that type of deposit.

Deposit Methods & Costs

FXTM offers an amazing variety of deposit options, including Visa, MasterCard, Maestro, Bank Wire Transfer, FasaPay, South East Asia Online Banking, Dusupay, TC Payment, Latin American Solutions via Skrill, Online Banking Malaysia, Online Banking Indonesia, Nganluong, GlobePay, Online Banking Vietnam, Online Banking Thailand, and China Online Banking(P). E-wallet options include Neteller, Skrill, VLoad, Crypto (BTC, ETH, LTC, Dash), TC Pay Wallet, Alfa-Click, WebMoney, DixiPay, Cash U, Yandex.Money, QIWI, PerfectMoney, Bitcoin, and Konnexone.

There are also a variety of local transfer options, including Malaysian Local Transfer, Nigerian Local Bank Wire Transfer, Indonesian Local Transfer, Algerian Local Transfers, Kenyan Local Transfers, Local Transfer for India and Pakistan, Ghanan Local Transfers, Local Exchange House, Afghani Local Transfer, Laos Local Transfers, Egypt Local Transfer, Bangladeshi Local Transfer, Iraqi Local Transfer, Palestinian Local Transfer, Tanzanian Local Transfers(BRK), and Syria Local Agent(KD). All of the e-wallets and card options, excluding Crypto and Konnexone, are available instantly.

Almost all of the other deposit methods are available within 24 hours, aside from Latin American Solutions via Skrill, which can take 1-2 business days, and bank wire, which can take 3-5 business days. FXTM does not charge any commission fees on deposit methods, but some banks may charge fees from their side.

Withdrawal Methods & Costs

All of the deposit methods are also available for withdrawal. These methods charge varying fees, although many of them are commission-free. Commission Free options include all of the local transfer options, TC Payment, Latin American Solutions via Skrill, Syrian Local Agent (KD), Local Exchange House, GlobePay, Online Banking Thailand, China Online Banking, China UnionPay, Neteller, Skrill, VLoad, and TC Pay Wallet. Below, you can view the fees for each withdrawal method.

• Visa/MasterCard/Maestro: 2EUR/3USD/2GBP
• Bank Wire Transfer: 30 EUR
• FasaPay, PerfectMoney, DixiPay: 0.5% (DixiPay max is $5 USD)
• Dusupay: $1 USD
• Crypto: 1%
• Nganluong: 1.1% + 0.05 USD
• South East Asia Online Banking: 1.4%
• 1.5% Fees: QIWI, Yandex.Money
• 2% Fees: Online Banking Malaysia, Online Banking Indonesia, Online Banking Vietnam, WebMoney, and Konnexone

Withdrawal Processing & Wait Time

The vast majority of withdrawals are available within 24 hours, including cards and Bank Wire Transfer. Exceptions would be Latin American Solutions via Skrill, which has a 3-4 business day withdrawal period, China Online Banking(P0), which can take up to 48 hours, and all of the Crypto options, which can take 24 to 48 hours.

Bonuses & Promotions

To start, FXTM is offering a 30% welcome bonus, which runs until November 30th, 2019. Time is running out, but hopefully, there’s just enough time left for you to claim the bonus. This broker also offers loyalty rewards that payout in cash, so long as one trades for six months. There are five different rebate levels and one’s level would depend on the amount that they have deposited. You can view the rebate levels and terms by clicking on ‘Forex Trading Promotions’ under the ‘FXTM Promotions and Contests’ section of the website.

It also seems as though this broker offers contests on demo and live accounts periodically, so be sure to check if there are any ongoing contests at the time of sign-up. Finally, FXTM is offering up to $10,000 to those that refer friends and family to the broker. You and the referred person will earn $50 each once conditions are met. Below, you can review the terms and conditions for the Welcome Bonus and Refer a Friend program.

30% Welcome Bonus (Standard or ECN Zero accounts only)
-Must deposit at least $100/ Maximum amount bonus can reach is $300
-Number of lots traded must equal the benefit amount times 2
-Cannot make a withdrawal of part of the deposit that granted the bonus or bonus will be removed
-Can be withdrawn within 30 days of meeting minimum lot requirement

Refer a Friend
-Both participants must make the minimum deposit amount for the account type
-Must trade at least 5 standard lots before the bonus will be credited

Educational & Trading Tools

FXTM offers several helpful educational tools, many of which are much more interactive than what you’ll typically find with other standard brokers. In fact, this broker offers enough to completely teach beginners everything they’ll need to know through their webinars, online courses, and other resources. Be sure to subscribe to the broker’s YouTube video to ensure that you don’t miss out on any of their educational videos. The website also has a section devoted to Market Analysis, so remember to visit it to find even more helpful tools. Below, we’ve listed all of the educational opportunities and tools offered by this broker.

-Seminars and webinars with experts
-Online trading courses
-Download eBooks and market outlooks
-Infographics that explain how to manage time and money effectively
–Forex Glossary
-Periodic Table
-Economic Calendar
–Forex News Timeline
-Quarterly Market Outlook
-Market Analysis Videos

Demo Account

Many forex brokers have been offering demo accounts lately, but this broker’s demo accounts stand out from most of the crowd. This is due to the fact that FXTM offers advanced demo accounts that mirror each of the real accounts they offer. This provides one with the ability to test out the features of each of these account types before making an actual commitment. For example, one could test out the demo version of the ECN Zero account before making the decision of whether they would want to make the $500 minimum deposit on its real account counterpart. It’s free to open a demo through this broker, so anyone that could use some practice, or who would like to test out the available account types should take advantage of the opportunity.

Customer Service

Support is offered in more than 30 languages and is available 24 hours a day, 5 days a week. The support team at FXTM won awards in both 2016 and 2017 for providing top customer service, so one should have high expectations when it comes to receiving quality customer service with this broker. Getting in touch with an agent is available through three convenient methods – phone, email, or LiveChat. This broker is also active on several social media platforms, including Facebook, Twitter, Instagram, YouTube, and more. You can follow them by scrolling to the bottom of the website and clicking on the chosen social media platform. Below, you’ll find all of the contact information. Note that there are several different phone and email options, based on your location, so be sure to choose the right one.

-China: [email protected]
-Malaysia: +60-3-9212 5856/[email protected]
-South Korea: 003-0813-2643/[email protected]
-India: 000800-100-4352/ [email protected]
-Nigeria, Albuja: +234 803 153 4373/[email protected]
-Nigeria, Lagos: +234 1 460 1586, +234 908 735 2313, +234 803 457 3593/[email protected]
-Thailand: +66 60 003 5095/[email protected]
Indonesia: 007 803 321 8183/[email protected]
Address: 35, Lamprou Konstantara, FXTM Tower, Kato Polemidia, 4156, Limassol, Cyprus

Countries Accepted

FXTM does not offer service to clients located in the USA, Mauritius, Japan, Alberta, British Columbia, Quebec, Saskatchewan, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, and the Occupied Area of Cyprus. These strict regulations are likely due to the fact that the broker is regulated by more than one authority, which imposes stricter conditions on the locations that they are able to accept.

Conclusion

FXTM is an established and regulated broker that offers six specialized account types. The broker has won multiple awards for customer service, trading conditions, and most recently, in 2019, they were awarded Best Investment Broker. Choosing a more established broker such as this one grants one access to a much larger variety of deposit and withdrawal methods, lower than average trading costs, extremely flexible leverage options, and the ability to choose between the MT4 and MT5 platforms.

This broker also offers low deposit minimums on the majority of their accounts, although the impressive FXTM Pro account requires a deposit of $25,000. This broker’s customer service team is also available instantly on LiveChat and has won a variety of awards for providing top-notch service. Educational opportunities are seemingly endless. There is honestly nothing to dislike about this broker and we would highly recommend signing up for an account with them. Of course, if you’re on the list of restricted countries, which includes the United States, you’ll have to look elsewhere.

TFX Markets is a broker situated in the United Arab Emirates. First impressions given by the website are concerning, as the site can be hard to read and the website runs with a little bit of lag. First impressions can be deceiving though, so we will look a little deeper into the services being offered and see how TFX Markets perform.

Account Types

There are three accounts on offer from TFX Markets, information regarding all features can be a bit scarce, but we will take a look into each account to see what the trading conditions are like for each one.

Standard Account:

This is the entry-level account for TFX Markets, there is not a whole lot of information regarding the trading conditions. There is maximum leverage of 1:500, it states quick withdrawals and payments but no information on what that means and it uses the Veta Trader as a trading platform, the account also comes with fixed spreads, but no information on what that spread is.

Gold Account:

The gold account has the same level of information available, and very little has changed, there is mention of some additional support however the only noticeable difference is that it states super low fixed spreads instead of fixed spreads. All other information remains the same.

VIP Account:

The VIP account is identical to the VIP account in terms of the information provided. There is a small additional section which states that traders will receive market updates, trading ideas, and special VIP promotion offers. There is no additional information given at all.

Islamic Account:

We have included the Islamic account on this list as it is given its own page and account specifications. Islamic accounts are accounts where the overnight swap fees are not charged or received.

Platforms

TFX Markets use a platform called Veta Trader, this is one of the first times we have seen this platform mentioned so we had to have a little look into what it offers. It is available as a desktop download, an app for iOS and Android devices and as a WebTrader within your internet browser. It seems to follow some of the same ideas as MetaTrader does, however it does not have the same database of indicators and expert advisors and does not seem to be as well supported. It has a large number of tradable instruments and has features such as one-click trading and multiple account management.

Leverage

The maximum leverage on all accounts is set at 1:500 which seems to be quickly becoming the industry standard and what a lot of more modern brokers are looking towards.

Trade Sizes

There wasn’t much information regarding this available on the website, we would be assuming that the minimum trade size would be 0.01 also known as a micro lot, however without concrete information we can not say this with certainty. There is also no information present regarding the maximum trade size.

Trading Costs

There is no mention of any commissions being charged, so it appears that all accounts use a spread based structure. There is also no information regarding spreads except for stating that they are fixed spreads or ultra-low fixed spreads.

Assets

When looking at the platform part of the website regarding the use of the Veta Trader, the only mention of assets is that it states that you can trade over 200 instruments, there is no indication of what these are or if all account have access to them.

Spreads

No information regarding this except for the statement of them being fixed spreads or ultra-low fixed spreads. There is no mention of an average or minimum spread and so we are getting a bit concerned about the overall lack of information on the trading environments.

Minimum Deposit

No mention of minimum deposits on the website, the accounts page does not mention them and neither does any of the other pages.

Deposit Methods & Costs

TFX Markets state that they allow the use of bank transfer, Visa / MasterCard, UnionPay, Neteller, Skrill, and PayPal. There is no information regarding the fees on any deposits.

Withdrawal Methods & Costs

So, another section with little to no information, we would assume that the same methods for depositing would be available for withdrawing but we can not say this with any certainty.

Withdrawal Processing & Wait Time

Without knowing which withdrawal methods are available we, unfortunately, can not comment on the processing time for withdrawals. The only mention is on the accounts page where each account states “Quick withdrawals and payment”.

Bonuses & Promotions

There are mentions of bonus funds on the accounts page and in the terms and conditions, however there is no information in regards to what the bonuses are, only that you need to trade 10,000 times the volume of the net deposits in order to withdraw any of the bonus funds, it is safe to say that 99.9% of people will never achieve this.

Educational & Trading Tools

TFX Markets provide a couple of education or trading tools, there are signals being provided for a number of different currencies including AUDJPY, AUDUSD, and CHFJPY. These help to teach you the trends and get a better understanding of what is going on in the Forex markets. There is also a very brief overview of what different strategies are and what they mean, it is very basic and won’t teach you to trade, but it is there and could be helpful.

Customer Service

TFC Markets provide a few different ways to get in touch with them, there is the online form, which once filled in, the customer service team will reply via email or mobile. There is also a phone number available as well as a physical address and an email address.

We tried to use the phone service, however, the phone did not pick up and cut out, the next time we tried it just cut out and did not ring at all, we are unsure if this was a temporary or permanent fault.

Demo Account

Demo accounts are available on the website, you can get one by simply filling in the application form on the site. Once it is open, you can trade indefinitely, however, if left dormant for too long it will close and another will need to be opened.

Countries Accepted

There is no information present on the TFX Markets website indicating which countries can and cannot trade with them, so we cannot provide much information for this part of the review.

Conclusion

The lack of information available is quite alarming and not something you want to see when looking for which broker to use. Customer services were not able to help us either so there is a huge lack of understanding surrounding what is actually being offered. The terms of service are very bare and provide very little information which can be a major concern for any website, let alone one that you are putting your money into. For these reasons, it is hard for us to recommend using this service.

We hope you like the review, if you did, be sure to check out some other reviews to help find the broker that is right for you.

The Trader’s Domain is a forex brokerage company located in St. Vincent & the Grenadines. The company describes themselves as being built by traders, for traders, with a focus on providing a convenient experience and mentions that their objective is to become a leading brokerage company, but smart traders know that is much easier said than done. Does this broker have what it takes to meet their goal, or will they fall short? Stay with us to find out.

Account Types

This broker offers Standard and ECN account types, although everyone seems to be granted with a Standard account upon registration, so you may need to reach out to support if you’d prefer an ECN account. Also, note that Islamic accounts are available for the ECN account type only. Both account types come with the same minimum deposit requirement and leverage options. Below, you can view the differences in the account types.

Standard Account
-Minimum Deposit: $100
-Leverage: Up to 1:500
-Spreads: From 1 pips
-Commissions: None

ECN Account
-Minimum Deposit: $100
-Leverage: Up to 1:500
-Spreads: From 0.0 pips
-Commissions: $3.50 per 100k traded

Upon opening an account, one will need to provide ID and address verification documents. Accounts are approved once enough documents have been provided to achieve 100 points. Address documents count as 70 points per document, while proof of identity documents count as 70 points per document.

Platform

Those that decide to trade through this broker will have the advantage of choosing between the MetaTrader 4 and MetaTrader 5 platforms. Many other brokers feature either one platform or the other, with the award-winning MT4 being the most commonly offered option, due to is highly customizable, user-friendly interface, along with a number of pre-installed indicators and tools that are also included. Developers of MT5 kept most of its predecessor’s strong suits and added in more pending order types, analytical objects, and more.

Both platforms are excellent options, so it really comes down to one’s own personal preference when it comes to choosing which to trade through. Accessibility is also no issue on either platform since both can be downloaded on a desktop, Android, and iOS. You can also access the platforms on the WebTrader, which is the browser-based version. The WebTrader would be the best option for Mac users.

Leverage

The Trader’s Domain allows traders to trade with up a volume of up to 500 times their trading capital. This provides an opportunity to maximize profit, regardless of how limited one’s actual capital is. However, one should note that trading with high leverages goes hand in hand with taking higher risks, so one should not simply choose the highest leverage offered. It is advantageous for brokers to offer options that are so much higher than the industry average because it provides lower-level traders with room for growth if they make it big in the forex world.

Trade Sizes

The Trader’s Domain allows a minimum trade size of 0.01 lots, otherwise known as one micro lot. Trading a micro lot allows for smaller positions that what would be allowed with a mini or standard lot. Support informed us that the maximum trade size usually depends on how much your margin can handle. Margin call and stop-loss levels are set at 50%.

Trading Costs

Many brokers charge fees through spreads, commissions, and rollover interest. With this broker, those charges differ based on account type. On the Standard account, spreads are from 1 pip and there are zero commission charges. Meanwhile, the ECN account offers spreads from 0 pips, with a commission fee of $3.50 per 100k traded.

Assets

The Trader’s Domain offers 100 plus tradable instruments, including CFDs, precious metals, and some cryptocurrencies. Sadly, the website does not offer a list of products, nor does it go into any further detail. A Product Disclosure Statement can be obtained on request from their offices and the website suggests that this should be considered before one decides to enter into a transaction with the broker. We would recommend reaching out to support to request the PDS.

Spreads

The ECN account type offers the most attractive spreads, advertised as starting from 0.0 pips. The Standard account advertises spreads as starting from 1 pip. Keep in mind that the industry average would fall somewhere around 1.5 pips, so both are presented as being well below average and are therefore competitive. However, The Trader’s Domain does not list their products on their website with actual spreads, so it is difficult to investigate whether these options are truly as low as advertised.

Minimum Deposit

This broker allows traders to open either of their account types with a deposit of $100. There are really two sides to the coin when it comes to comparing this amount to the minimum required by other brokers. On one side, this amount may be steep, considering that many brokers offer deposit minimums of around $10, or even eliminate the requirement altogether. Offering lower minimums would be more beneficial to beginners or those that are iffy about signing up with this broker. On the other side, this is a bit lower than average, and $100 provides one with the ability to make a number of trades before needing to make another deposit quickly.

Deposit Methods & Costs

This company accepts deposits through Bank Wire and a number of e-wallets. E-wallet options include more popular options like Bitcoin, Bitcoin Cash, LiteCoin, and Dash, alongside some lesser-known options like Monero, Neo, Ripple, and Cardano. It’s odd to see so many e-wallet options available without the option to deposit via Visa/MasterCard. Also, note that a deposit fee of 2.5% is charged on all deposits. Aside from Bank Wire, all deposits are processed within 24 hours. Bank Wire can take 2-3 business days to be credited to the account. This broker does not accept third party deposits, so ensure that you are always funding from a method under your own name to avoid the hassle.

Withdrawal Methods & Costs

The website doesn’t offer any information on withdrawals, so we reached out to support to find out more. We learned that all of the available deposit methods are also available for withdrawal. The broker charges a 2.5% withdrawal fee, one that matches their deposit fee. This fee may seem steep at first glance, but this means that if you made a deposit and a withdrawal of $100, the broker would take a total of $5 by the time funds were deposited and withdrawn. Of course, if you made a larger deposit, the fees would add up to a larger amount. Upon requesting a withdrawal, you’ll find that the website does the math for you and displays what the commission cost will be once fees are applied. Withdrawals to accounts that have never had any open trades will be subject to a 15% processing fee.

Withdrawal Processing & Wait Time

All withdrawals are processed within 24-48 business hours. It would be nice to see some instant options; however, these options are still realistic. One would simply need to put in the request a day or two in advance of the time when funds would be needed. Of course, you may want to request a withdrawal earlier in the week in order to avoid the delay caused by the weekend. Remember that all compliance documents must be uploaded and approved before a withdrawal request can be processed.

Bonuses & Promotions

At this time, there are no bonus opportunities being offered by this company. While we love seeing bonus options available, this is just one of those extra things that aren’t necessary. If you do continue looking for a broker that offers a bonus, be sure to read the terms and conditions. If a bonus seems too good to be true, it probably is. Remember that you should never choose a broker based on this category, but it can be a nice addition to a list of positive qualities if you do find a qualified broker that offers an attainable bonus opportunity.

Educational & Trading Tools

Aside from the ability to trade with a demo account, The Trader’s Domain is barren when it comes to educational opportunities. However, the company does offer an economic calendar and multiple calculators. Overall, these trading tools are helpful, but we can’t help but feel that this broker could be doing more to educate their client base. If you’re a beginner, we would suggest researching elsewhere and then opening a demo account through the broker when you’re ready. Below, we’ve listed all of the available calculators.

-Pip Calculator
-Margin Calculator
-Fibonacci Calculator
-Pivot Calculator
-Profit Calculator
–Lot Size Calculator

Demo Account

The Trader’s Domain does offer demo accounts to any traders that would like the advantage of opening one. If you haven’t heard of demo accounts before, you should know that many forex brokers offer these practice accounts in order to give their clients a chance to test out the market using virtual currency. Opening a demo account is free and one could maintain both a demo and a real account at the same time.

Customer Service

24/7 customer support is provided in multiple languages via LiveChat, email, or phone. We were able to get in touch with an agent via LiveChat instantly and our support agent was willing to answer all of our questions clearly. We didn’t get the usual run-around or refusal to answer certain questions that we’ve received in the past with other brokers. On another note, this broker admits to a 24 to 48 wait time in order to receive a response via email, so you may want to use one of the other contact methods if you have an important inquiry.

-Phone: 18334004242
-Email: [email protected]
-Address: Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont, Kingstown, St. Vincent & the Grenadines

Countries Accepted

The Trader’s Domain does not accept applications from residents of the US, Canada, the United Kingdom, Israel, and the Republic of Iran. However, we were able to bypass the restriction by opening an account from one of our US-based offices by selecting the ‘US Minor Outlying Islands’ as our country of residence. When chatting with an agent, we were never asked about our location and we had no issue accessing our account through the back office.

Conclusion

The Traer’s Domain is a forex and CFD broker that offers the ability to trade with high leverages on two account types. Traders can choose between the Standard and ECN account types, both of which offer competitive spreads and commission charges with a minimum deposit of $100. This broker also offers both the MT4 and MT5 platforms and multilingual, 24/7 instant support. The downside to choosing this broker would be the lack of variety and unavoidable deposit and withdrawal fees when it comes to the funding of one’s account.

Educational options and bonuses are also absent, but these are simply extra options that don’t affect the main experience. In some places, the website can be vague, but support is always available to answer any questions one may have. In our opinion, this broker is offering competitive enough trading costs to potentially meet their goal of becoming a leading broker, but they’ll need to offer better funding conditions and add more opportunities on their website in order to make it all the way to the top.

Golden FX is based in Saint Vincent & the Grenadines and offers not only offer their services via the MT5 trading platform but also offers FX tools and free educational material which can all be found on their website. The website itself has a very modern and simplistic theme, making navigation easy, and especially attractive to beginner traders.

Account Types

Golden FX offer 4 account types: Standard, Silver, Gold and Platinum. All accounts can be held in EUR or USD, but trading conditions of course vary. The Standard account must have a deposit of $$250 – $999, the Silver $1,000 – $24,999, the Gold $25,000 – $99,999 while the largest account, Platinum, must have over $100,000.

Some details are vague from the website information provided, such as spreads being ‘standard’ on the Standard and Silver accounts, while the Gold account has 1.9 pip spreads and the Platinum has 1.5 pip spreads. All accounts have access to the same markets, educational material, and Islamic account equivalent. Leverage is also favorable across the board, which we will expand on shortly.

Platforms

Golden FX offers the MT5 trading platform, which is not everyone’s cup of tea, but MetaTrader is, of course, the most trusted platform, so many clients will be happy to use MT5.

Leverage

Leverage allowances depend on the account type you opt for. The Standard account offers a maximum leverage of 1:100, the Silver account allows maximum 1:200, the Gold 1:400 and the Platinum is not stated but suggests it can be very high according to the client’s request.

Trade Sizes

The minimum trade size is 0.1 lots for all accounts.

Trading Costs

The FAQ page states that all 4 accounts do not charge any trade commissions or additional fees.

Assets

Golden FX must be commended for its provision of variety when it comes to tradable instruments; clients are at luxury to trade the following: Forex, Stocks, Commodities, Indices, and Cryptocurrencies. This really is quite the banquet for the clients to choose from.

Spreads

Golden FX offer both fixed and variable spreads, which assumably are available specifically on particular trading instruments, and could vary from account type, but this is not specifically stated. It is not possible to find live spreads or the fixed spreads, or even a full list of instruments available without opening an account to do so, which is a clever way to quickly entice clients into signing up for a live account before having a full understanding of trade conditions offered.

Minimum Deposit

As mentioned earlier, minimum deposits start at $250, which is not low or average to competitors by any means. It seems that for each account type, you must maintain a balance in your account, as stated below:

• Standard: $250 – $999
• Silver: $1,000 – $24,999
• Gold: $25,000 – $99,999
• Platinum: $100,000 or more

Deposit Methods & Costs

Golden FX does not charge clients for deposits and the following methods of funding are available: Local bank transfer, debit/credit card, and cryptocurrency.

Withdrawal Methods & Costs

Withdrawals must be completed via the same method you used to make the initial deposit of funds you wish to withdraw. No broker charges are mentioned in respect of withdrawals but of course, your banking provider, or e-wallet could carry fees, so be sure to check that before you process withdrawal requests.

Withdrawal Processing & Wait Time

Withdrawals can take up to 7 business days but to reach you can depend on your banking provider. Compared to alternative brokers, 7 business days for a withdrawal to simply be processed is incredibly lengthy and not many traders will appreciate this wait time.

Bonuses & Promotions

Each account type is eligible to be granted a deposit bonus of up to 100% of the original amount. Bear in mind the deposit requirements are rather high compared to many brokers, and this amount can essentially be doubled. Although this gives the appearance of having double the capital in your account, bear in mind that withdrawing a bonus is near on impossible unless strict trading requirements are met, which are set out to be almost impossible for a reason.

Educational & Trading Tools

Golden FX offer free educational material on their website, for those who wish to read up about trading to enrich their knowledge. A Glossary is also available to refresh knowledge on trading terminology you will encounter as a trader.

Customer Service

There is only an option to contact Golden FX via email (ticket) or via telephone. The hours of customer support operation are not stated so it is unknown when you will receive a response.

Demo Account

Golden FX does not offer any demo account version of any of the 4 account types offered. This makes is very difficult for potential clients to really know if these accounts are suitable for them or not.

Countries Accepted

The website footer makes a clear statement that all traders are welcome other than If you are a citizen and/or resident of Japan, USA, Russia, Ukraine or Canada, then you will not be granted permission to trade with Golden FX.

Conclusion

On the surface, this broker has many positive attributes. In terms of deposit methods, leverage allowance and variety of assets to trade, this broker are highly appealing. However, the minimum deposit requirements and the deposit bonuses to put a slightly sour taste in one’s mouth, especially given the absence of a demo to fully try out the broker’s services before depositing real money into a live account, and a substantial amount too.

Trader’s Home is a foreign exchange broker located in Saint Vincent & the Grenadines. Although they’ve only been around since 2018, this broker is already becoming more well-known and has established a large customer base right out of the gate. The company boasts about providing low-cost trading in multiple asset classes, including currencies, commodities, energies, global shares, and cryptocurrencies. However, good traders know that you can’t judge a book by its cover, so stay with us to find out if the trading costs are as competitive as this broker makes them out to be.

Account Types

Trader’s Home offers six unique account types that were created with traders of different skill sets in mind. The options are the Student, Starter, Premium, Advanced, Pro, and VIP account types. While it is nice to see so many options, the higher minimum deposit amounts may limit one’s choices to one or two options. All accounts share the majority of the same specifics, including leverage, spreads, minimum trading sizes, and more.

There only seem to be a few small differences, with minimum deposit requirements being the main one, although the Student and Starter accounts are aimed towards beginners, while the other account types are meant for more experienced traders. Note that the VIP account is more mysterious than the other account types since the broker mentions one should contact their account manager for details. Islamic accounts are offered on the Starter, Premium, and Pro accounts. Once your documents have been submitted, account verification typically takes less than 24 hours.

Student Account
-Minimum Deposit: $250
-Leverage: up to 1:400

Starter Account
-Minimum Deposit: $2,500
-Leverage: up to 1:400

Premium Account
-Minimum Deposit: $10,000
-Leverage: up to 1:400

Advanced Account
-Minimum Deposit: $25,000
-Leverage: up to 1:400

Pro Account
-Minimum Deposit: $50,000
-Leverage: up to 1:400

VIP Account
-Minimum Deposit: $100,000
-Leverage: up to 1:400

Platform

Trader’s Home exclusively features MetaTrader 5, the successor to the world’s most popular trading platform, MetaTrader 4. MT5 comes with many more additional timeframes, pending order types, order execution types, market depth, an economic calendar, graphical objects, and more. The variety of features and the upgrade in the number of services offered should be enough to make the larger part of Traders Home’s clients feel content, although some may miss the user-interface offered by the classic version. Another plus to trading MT5 would be the accessibility offered by the platform, which is available on Android, Apple, browser, or download for PC. This means one can trade on the go with a phone or tablet, on their PC, and on their Mac with ease.

Leverage

Where most brokers offer leverage options up to 1:100, Trader’s Home offers more flexible leverage options up to 1:400. This means that one would be able to trade with 400 times the amount of funds in their account if they choose to open an account with this broker. This can provide a significant advantage when it comes down to making a profit. However, we should note that it wouldn’t be wise to select leverage this high if you are less than experienced. We suggest testing out different leverage options on a demo account if you fit into this category.

Trade Sizes

The minimum trade size is listed at 0.01 lot, otherwise known as one micro lot. This is listed on all account types, except for the VIP account, which states that one should speak with their account manager for details. The website is less forthcoming with details about the maximum trade sites that are allowed for each account types and no information is listed about stop-loss levels. This broker’s website can be frustrating at times due to the lack of some important details, so feel free to reach out to support if you need more information.

Trading Costs

Fees include, but are not limited to, revenue share, commissions, rebates, overnight interest, and spreads for third parties. Furthermore, the client agrees that he/she is solely responsible for any tax that may be incurred. Commission fees will be waived when trading cryptocurrencies, but are applicable on all other asset types. Overnight interest can be avoided if one does not leave positions open overnight. Alternatively, swap-free Islamic accounts are available for those of the Muslim faith on the Starter, Premium, and Pro account types.

Assets

Trader’s home offers multi-asset classes including more than 90 currency pairs, stocks, derivatives, commodities, spot metals, indices, and even cryptocurrencies. Traders will have access to more than 1000 shares in the biggest companies in the world and will have the advantage of being charged zero commission fees when trading cryptocurrencies. Note that crypto options include the ever-popular Bitcoin, LiteCoin, Ethereum, and more. The impressive product portfolio offered by this broker provides one with an excellent selection and variety that cannot always be found elsewhere.

Spreads

This broker’s website is not too descriptive about their spreads; therefore, we did our best to come up with a clear idea of what spreads one should expect. First, we will note that it seems that spreads are based on the type of asset being traded, rather than the account type one is trading from. For example, spreads start from just 0.3 pips on currency pairs, which is significantly lower than the 1.5 pip industry average. It seems as though this is the option on all account types, although the site is not completely clear. When it comes to precious metals, spreads start from 0.4 pips on Spot Gold and from 3 pips on Spot Silver. On Crude Oil, spreads start from 6 pips. The website does not provide specific information about the spreads on indices, cryptocurrencies, or spot shares. We should also mention that the Pro Account lists fixed spreads as an advantage, so this suggests that spreads are floating on the other account types.

Minimum Deposit

Deposit minimums with this broker range from $250 up to $100,000. The Student account is the most affordable, with a $250 deposit requirement. This amount tends to be the industry average, although it isn’t rare to find brokers offering at least one deposit option around $100 or less. Moving up, you’ll need to make a much more significant deposit of $2,500 to open the Starter account. The minimum is $10,000 for the Premium account, $25,000 on the Advanced account, $50,000 for the Pro Account, and $100,000 on the VIP account. The deposit requirements with this broker can be high and may limit one to choosing the Student or Starter account types. It is common to see one or two account types with high deposits elsewhere, but a $2,500 requirement for a Starter account is steep.

Deposit Methods & Costs

This broker supports deposits through bank, card, and e-wallets. The options are Bank Transfer, Skrill, Visa, MasterCard, Neteller, and Western Union. Deposits are processed quickly, within one business day of the funding time. There may not be a lot of options to choose from, but it is nice to see a little variety available. Many clients are satisfied with Visa/MasterCard and Bank Transfer options, although some prefer to deposit through lesser-known e-wallets. On the bright side, this broker is offering a couple of e-wallet options, so most should be able to find a suitable deposit method.

Withdrawal Methods & Costs

Withdrawals are systematically processed through the same method that was used to deposit, so you’ll want to keep that in mind when choosing a deposit method. Fortunately, the company does not charge any fees on withdrawals, but the website suggests that their clients may be charged fees from third-party payment processors. For bank wire, you can expect these fees to be around $25 or higher, but this is unavoidable, regardless of which broker you choose.

Withdrawal Processing & Wait Time

Withdrawal requests are processed back to the method used to deposit within one to five business days. While one or two business days is a reasonable amount of time to wait with an established broker, three days or more for a withdrawal to Visa/MasterCard or to an e-wallet seems to be a long waiting period. Hopefully, the broker would manage to process your withdrawal within one of the quicker time frames, however, based on how many clients are being serviced at the time, you would need to be prepared for the longer waiting period just in case.

Bonuses & Promotions

At the time this article was written, Trader’s Home did not have any ongoing bonus opportunities. It’s disappointing that there isn’t at least a simple welcome bonus available, but extra opportunities such as these are not always offered. Remember that you should never choose a broker based solely on special bonuses, although it is a nice extra option if terms and conditions are realistic. Note that this broker does have a section related to bonuses and promotions on their legal terms document, so it is very possible that they may provide these options from time to time. Be sure to check for any updates before signing up.

Educational & Trading Tools

Under the Insights section of the website, you’ll find an Economic Calendar, a Bitcoin calculator, and a ‘Trading Signals’ option. The latter section offers recent updates that explain how different assets have been trading in the market, along with helpful charts that support each entry. However, this is as far as the educational opportunities with this broker go. It’s always nice to see brokers take the time to provide learning materials, although this doesn’t actually affect the trading experience they offer. If you’re a beginner, you’ll need to search the web for the educational material you’ll need.

Demo Account

Sadly, Trader’s Home does not seem to be offering demo accounts at this time. Many forex brokers offer these free practice accounts to clients because of the number of advantages they offer – the ability to get a feel for the trading platform, to test out different strategies, compare account types, educational opportunities for beginners, and more. Therefore, it is a little disappointing that this isn’t offered here, even though it won’t affect your experience trading on a real account. If you were really hoping to trade from a demo, you could test out one on another broker’s website, while trading from a real account with this broker. However, the experience won’t be exactly the same, since other brokers demos would reflect their own conditions, rather than those offered here.

Customer Service

Support is available 24 hours a day, five days a week and can be accessed through LiveChat, phone, email, or the contact form on their website. The lengthy support hours are convenient, although it would be nice to see this broker offering weekend support since this is often when many decide to sign-up and would, therefore, have questions. This broker is also active on Facebook, Twitter, and Instagram, so be sure to follow them if you decide to sign-up for an account. Below, you can find all of their listed contact information.

Email: [email protected] & [email protected]
Phone: +18774031459
Address: Suite 305, 5 Richmond Hill Road, Beachmont, Kingstown, Saint Vincent & The Grenadines

Countries Accepted

We were disappointed to find that the United States was excluded from the list of acceptable countries with this broker, especially considering their location in Saint Vincent & the Grenadines, which is typically more accepting of clients in the US. Fortunately, US residents can get around this roadblock by selecting the US Minor Outlying Islands as their country of residence. There do not appear to be any other restrictions, but you can always check the account registration page to ensure that your county is available.

Conclusion

Trader’s Home is an established broker that offers high-leverage trading on a wide variety of asset classes. Choosing this broker would also mean that one would have the advantage of paying zero fees when depositing or withdrawing funds, access to the MetaTrader 5 trading platform, and the ability to open an account from the United States. However, this broker does have high deposit requirements that may not be affordable enough for some of their potential clients.

Another downside would be the fact that the website can be vague at times and does not explain spreads clearly enough. Educational opportunities can be limited and bonuses are not available, although those could be considered extra perks that wouldn’t affect the main experience. On another positive note, the customer service team is available 24 hours a day through several convenient contact methods. With all things considered, this could be an excellent potential broker.

Polo Invest is a forex based investment and broker firm that was founded in 2014 and is based out of Hong Kong. Offering a number of different accounts and benefits, we take a little look in more detail and see if it is worth taking the plunge with Polo Invest.

Account Types

There are three different account types (not including demo) on offer with Polo Invest, these are the silver, gold and platinum accounts, let’s take a little look in more detail to see what each account offers:

Silver Account:

This is the entry-level account at Polo Invest, however for an entry-level account, having $10,000 as the minimum deposit can price out a lot of potential clients. It has fixed leverage at 1:100 and spreads from around 1.6 pips. The minimum trade size is 0.01 lots (micro lot) and there is a maximum of 10 lots open at any one time and a maximum of 50 open trades.

Gold Account:

The gold account has a minimum deposit of $50,000 which is high, very high. The leverage can be set anywhere between 1:1 and 1:100 and the spread remains at around 1.6 pips. The minimum trade size remains at 0.01 however you are now able to have 50 lots open at one time and also 100 open trades.

Platinum Account:

The premium account from Polo Invest comes with a premium price, you need a minimum deposit of $100,000 to open this account. This gives you the standard 1.6 average spread, a choice of leverage between 1:1 and 1:100, 0.01 lots as the minimum trade size, no limits to the maximum trade size, how many trades can be open and total open lots. For an account requiring $100,000, you would expect a few more benefits.

Platforms

There is only one platform on offer with Polo Invest and that is MetaTrader 4 (MT4). MT4 is one of the world’s leading trading platforms with many retail traders using it as their go-to platform. It offers huge amounts of flexibility, compatibility with hundreds and thousands for indicators and expert advisors to help improve your analysis and trading.

It would have been nice to have more choice, however with MetaTrader 4 you can not go too far wrong, MT4 is available with Polo Invest as a desktop download, apps for both iOS and Android devices and as a WebTrader to use on your internet browser.

Leverage

There is fixed leverage of 1:100 if you go for the silver account, if you use any other account then you have the option to choose anywhere between 1:1 and 1:100. Retail traders these days are looking for more and more leverage, usually opting for between 1:200 and 1:500, so Polo Invest may put some potential clients off with their lower leverage, having said that, 1:100 is relatively safe and profitable leverage to use.

Trade Sizes

All three accounts at Polo Invest offer a minimum trade size of 0.01 lots (micro lot). There isn’t a maximum trade size for individual trades, instead, there are a maximum number of open lots on each account which in turn will limit the individual maximum trade size. With the silver account, the maximum open trade volume is 10 lots, with gold it is 50 lots and with the platinum account, it is unlimited.

Trading Costs

There are no additional commissions charged for each trade with Polo Invest, instead, they opt for ana additional spread. Spreads start at an average of around 1.6 pips, however, these fluctuate due to market conditions and also some currency pairs naturally have a higher spread. So use 1.6 as a minimum, but expect slightly higher. A 1.6 spread with no other commissions is a relatively good deal, with some other brokers going much higher, however, due to fluctuations, we have seen spreads starting at 2 pips or more at certain times of the day.

Spreads are also charged for holding trades overnight, these are not outlined on the site but can be viewed from within MetaTrader 4 itself.

Assets

With Polo Invest you have access to a number of different instruments and assets, you have the standard Forex, you also have Shares, Metals, Commodities, and Indices. There is no information however as to how many of which assets are available, there are of course some examples but they are not exhaustive lists so unfortunately, we can not give precise figures.

Spreads

Spreads on all three accounts start at around 1.6 pips, however when we have examined the spreads they have always been slightly higher at a minimum of 2 pips. While this isn’t anything crazy, due to the required capital in Polo Invest accounts, it would have been nice to see slightly lower spreads across the board.

Minimum Deposit

The minimum deposit with Polo Invest is a whopping $10,000, so it is clear that Polo Invest is going for the bigger fish rather than people new to trading.

Deposit Methods & Costs

There are a huge number of deposit methods on offer, far too many for us to list here, however, we can highlight a few of them including Bank Transfer, Visa / Mastercard debit and credit, Skrill, UnionPay, PayPal, Neteller, Perfect Money and many more. If there are any fees added to deposit we can not tell, as there is no mention of any fees, but also no mention that there aren’t any.

Withdrawal Methods & Costs

The same withdrawal methods are available as the ones for depositing, so there are plenty of choices. Similarly to deposits, there are no mentions of any fees, so we can not comment on that aspect of the withdrawal process.

Withdrawal Processing & Wait Time

There are no specific details mentioned on the site in regards to processing time, however going through the terms and conditions (we had to search for them too), it appears that withdrawal requests are processed within 48 hours. So depending on what method you used, your funds will be with you between 2 – 7 business days. This can be a long time to wait and the majority of modern brokers are now aiming for 24 hours processing as a maximum, it would be nice to see Polo Invest follow suit.

Bonuses & Promotions

There are bonuses available, however, when going to the bonus information page it gives an “Oops! This page can’t be found” error. When comparing the accounts, it appears that there are deposit bonuses available, however, the details of these are not prevalent and we could not find the exact details of these bonuses.

Educational & Trading Tools

Polo Invest has a very basic education program based on an introduction to the basics of Forex, it isn’t going to help you trade or become an expert, but it is something to refer to when starting out, however considering the minimum deposit, most people trading with Polo Invest should already know the basics. There is also a glossary available should you not understand any terms that are being used.

Customer Service

Should you wish to get in contact with Polo Invest, then you can do via their support page which offers a number of different ways to get in touch. They have the standard online form to fill out, a phone number, an email address, and a postal address.

We tested out the phone line, however we did not manage to get through to anyone, it was early on a Monday morning so that may be why however we would expect someone to be there considering they are touting 24 hours a day from Monday to Friday support, possibly just not that early (8:30 am) on a Monday.

Demo Account

Demo accounts are available with Polo Invest, they come with unlimited usage, real market conditions, access to the MT4 platform and WebTrader and have up to $20,000 as an opening balance. The accounts remain active forever according to the terms and are easy to set up, simply select a demo account when creating a new account. If you close your demo account, you are able to open up as many others as you like.

Countries Accepted

There is no information present on countries that are accepted or not, so we can not confidently answer this part of the review.

Conclusion

Polo Invest seems competent, however, they are excluding a huge number of potential clients with their $10,000 minimum deposit, with such high capital being invested, we would have expected to see slightly improved trading conditions, sticking with a 1.6 pip spread is high for that capital investment. Customer services didn’t pick up which isn’t a concern, no matter how early it was in the morning.

There is a huge range of deposit and withdrawal methods available so anyone should be able to find one that works for them, however, the processing time for withdrawals is longer than we would be expecting from a modern broker. At this time, we would recommend looking elsewhere for a broker with a lower minimum deposit and slightly better trading conditions.

We hope you enjoyed this review, be sure to check out some of the other reviews to help find the broker that is right for you.

Capital Markets Group (CMG) is a global forex and CFD broker registered by the Financial Services Authority (FSA) and located in Saint Vincent & the Grenadines. The company claims that they work relentlessly to provide their clients with competitive pricing, fast order execution, and reliable trading infrastructure. CMG also mentions that they are constantly updating their services to stay ahead of the competition and even goes as far as to claim that they are the best around. Of course, brokers typically advertise their positive qualities and try to put a positive spin on any drawbacks. We wanted to know if this broker has the right to boast, so we delved beneath the surface to find out whether they are the worthy competitor they claim to be.

Account Types

Those signing up for an account through CMG will be automatically signed up for their MT4 account, which seems to be the only option available; therefore, there is no need to compare conditions on multiple account types with this broker. From a quick glance, we discovered that the cost to open an account is $250, leverage options are above average, and spreads tend to be very competitive, although they are variable. There is a lot more to take into consideration, so stay with us to find out more detailed information on each of these categories. You can view a quick overview below.

CMG Account

-Minimum Deposit: $250
-Leverage: Up to 1:400/Up to 1:500
-Spreads: Variable from 0.2 pips
-Commissions: Not specified
-Minimum/Maximum Trade Sizes: 0.01 lot/Depends on Instrument

This broker requires compliance documents before an account can be approved for trading. For proof of ID, passports, Driver’s License, or a non-Driver’s ID are all accepted. Several documents are accepted as proof of residence, and all of the acceptable documentation can be viewed on the website under ‘Support’ > ‘Legal Documents’.

Platform

CMG supports the most commonly offered trading platform available in today’s forex world, MetaTrader 4. Most traders have probably heard of MT4 already, but if you haven’t, you should know that the platform offers a rich user-friendly interface, advanced technical analysis tools, Trading Signals, Expert Advisors, and is compatible with a variety of devices. MT4 is preferred among the vast majority of traders and is available for download on desktop, mobile, tablet, and through the web browser.

Leverage

This broker offers leverages that are very flexible and above average, although they certainly aren’t the highest options we’ve ever seen. However, we did find the website to be contradicting when listing the leverage cap. On their homepage, the broker advertises leverage options of up to 1:400. Under the forex category, the website lists a higher option, of up to 1:500 on forex pairs. We would expect the homepage to advertise the very best leverage available, so it is a little confusing as to why the higher option is displayed elsewhere. Since both options are very similar, we were not entirely alarmed by the discrepancy. Whether the highest leverage cap is 1:400, or 1:500 on forex options and 1:400 on all other tradable instruments, it should be enough for traders of all different skill levels.

Trade Sizes

All instruments offer a minimum trade size of 0.01 lots, otherwise known as one micro lot. Maximum trade sizes vary, based on the type of instrument that is being traded. This is not specified on currency pairs. For oil, the maximum trade size is 10 lots. On Gold and Silver, the maximum trade size is 50.00 lots. The maximum trade size on indexes ranges between 2 lots and 20 lots and can be viewed by navigating to ‘Products’ on the website’s directory and then selecting ‘CFDs’. There are no limits to the size or number of positions that a trader may hold and available margin in the account is the only constraint on the size of a position. Initial margin and total margin requirements will fluctuate with the value of the Underlying Instrument on which the contract is based.

Trading Costs

Depending on the type of account you hold, commission fees may be applied. We know that there is only one primary account type, so we can assume that CMG is hinting that there may be lowered, or zero commission charges for their wholesale clients. In order to be considered a wholesale client, one would need a balance of $500,000, so the majority of traders will have to pay the applicable commission charges. Note that there are zero commission charges when trading commodities. Rollover interest is also applicable when positions are held overnight. Rollover time is around the New York closing time (17:00 EST). Rollover costs can either add a significant extra cost, or profit, to your trade, so keep these charges into consideration.

Assets

CMG offers trading on Forex, CFDs, precious metals, and oils. The website’s homepage mentions that 80 plus instruments are available, but we did some further research to find out more. The website does not list all of the available forex options, but we do know that some of the most commonly traded currency pairs are available, including the EUR/USD, for example. Precious metal options include Gold and Silver. Oil options include WTI Crude Oil and Brent Crude oil. Overall, there are eleven popular indexes available. Considering that we can only add fifteen options so far, it is safe to assume that the bulk of tradable products with this broker would fall within the category currency pairs, with about 65 options being available.

Spreads

Spreads with this broker are variable, meaning that they fluctuate along with the trends in the market. Spreads start as low as 0.2 pips, much lower than the industry average of 1.5 pips. However, these spreads may rise and fall, due to fluctuation. To view live spreads on all of the tradable assets, we recommend opening a demo account.

Minimum Deposit

CMG requires a $250 minimum deposit upon opening an account. This amount may seem steep to less-experienced traders, although it could technically be considered average. Still, many other brokers do offer much lower minimums and some have completely done away with them altogether. The minimum with this broker is realistic, even if it is a bit intimidating to some, although lower options are out there. Fortunately, it would not take an impossibly long time for one to save up the funds if they are not immediately available.

Deposit Methods & Costs

Deposits are accepted from the following payment methods: Bank Wire Transfer, Credit Card, Neteller, Skrill (Moneybookers), Konnectivity, China UnionPay, and B2B Transfer. Note that there is a $1,000 limit on Credit Card deposits and a $3,000 limit on deposits made through China UnionPay and Skrill. CMG does not charge transfer fees; however, fees may be charged by your provider. Deposits are credited instantly for the majority of methods. However, it can take 1-2 days for Bank Wire Transfer and B2B Transfer to be posted. It can take up to one day for Konnectivity to post. The broker cannot accept third-party deposits, but joint bank accounts are accepted, so long as the name of the account holder is listed on the document.

Withdrawal Methods & Costs

All of the available deposit methods can be used for withdrawal. Credit Card withdrawal can only be made for the amount used to make the deposit and extra profits must be withdrawn through a different method. Any transfer fees charged by CMG’s banking institution will be passed on to the client, however, the website does not explain how high those fees would be.

Withdrawal Processing & Wait Time

Withdrawal forms received before 21:00 GMT (5:00 pm) will be processed the same business day. Any forms received after this time will be processed the same business day. Withdrawals made by Bank Wire Transfer usually take 3-5 working days to reach the client’s account. Sam-day processing is quicker than what we’re used to seeing, but note that the website does mention that any unforeseen circumstances may cause withdrawal times to be longer.

Bonuses & Promotions

At the time this article was written, there were no special opportunities or promotions available with this company. Finding these types of options is common, but finding bonus opportunities with realistic terms and conditions is rarer than one may realize. With that said, it would certainly add something extra to what this broker is offering, but we would never choose a broker based on this category alone. Since the company states that they are constantly adapting to keep up with the competition, one should definitely check back to see if anything is added in the future.

Educational & Trading Tools

On their homepage, CMG advertises an economic calendar and tools & analysis, but none of these options are accessible from the website. Most likely, the broker is referring to the built-in tools within MT4, rather than what is offered directly via their website. This broker does offer demo accounts, which is one of the best learning tools out there, but one wouldn’t be able to operate one of their demo accounts properly without any prior insight into trading. With that said, the educational resources offered by this broker fall short. This shouldn’t be something that stops a beginner, but it is disappointing that the broker doesn’t offer more directly. We would also like to see a link to the advertised economic calendar, some calculators, and perhaps updated market news on the website.

Demo Account

Free demo accounts can be opened through the broker before one has made the decision to sign-up with this broker, or one can be opened alongside a real account. Opening a demo is an excellent way to test the market and the broker offers a $50,000 balance in virtual currency upon opening one of their accounts. This should be more than enough, however, the broker does offer to add funds to a demo account if one’s balance is depleted, so you could continue trading on the same account, even after blowing through those funds. Demo accounts only expire if one does not trade regularly for 30 days. In order to open a demo account, you can make a request directly on the broker’s homepage, or through the CMG MT4 Client Terminal, by navigating to the menu bar file > Open an Account, select CMG Demo Server, and select New Demo Account.

Customer Service

24/7 customer support is available via phone, email, or through the contact form on their website. Having the ability to contact support on the weekends definitely adds an advantage to choosing this broker, especially considering many traders sign-up on the weekend and therefore have questions. The majority of big brokers fail to cover weekend support, and some even close in the evenings, so CMG is ahead of the competition on that front. However, support falls a little short when it comes to contact methods since the instant contact option LiveChat is not available. This means that the phone would be the quickest way to get in touch with an agent. We’ve listed all contact information for the company below.

-Phone: +61 2 4036 3165
-Email: [email protected]
-Address: Suite 305, Griffith Corporate Centre 1510, Beachmont, Kingstown, St. Vincent & the Grenadines

Countries Accepted

For citizens in certain countries or municipalities, currency trading is not permitted. The list of restricted countries includes: Central African Republic, Congo, Cote D’lvoire, Democratic People’s Republic of Korea (North), Ecuador, Eritrea, Ethiopia, Guinea-Bissau, Haiti, Iran, Islamic Republic of Iraq, Japan, Kyrgyzstan, Liberia, Libya, Myanmar, Republic of Korea (South), Sierra Leone, Somalia, Sudan, Syrian Arab Republic, United States of America, United States Virgin Islands, Western Sahara, Yemen, and Zimbabwe. Note that the website will allow one to sign up for an account under the United States, however, it is possible that compliance documents may be denied if you sign-up under that location. However, it is possible that these accounts could be approved based on the fact that this broker is located in Saint Vincent & the Grenadines, which typically has more relaxed regulation laws.

Conclusion

Capital Markets Group offers high-leverage trading on a number of tradable instruments, mostly made up of currency pairs. Accounts can be opened with a minimum deposit of $250, a variety of funding methods are available, and withdrawals are often processed within the same business day, although there are applicable charges when withdrawing. CMG also offers low spreads that start from 0.2 pips, but the website does not go into detail about their exact commission charges, which could be a red flag. Customer support is available 24/7, so there should never be an issue getting in touch with this broker. Taking all of those things into account, we can say that the broker rightfully boasts about their competitive advantages when it comes to spreads, leverage options, and customer support availability.

With that said, this broker is missing some of the extra things, like bonuses, LiveChat, and educational resources. One would likely be satisfied with the majority of options available, but we can’t help to wonder if commission charges are higher than average in order to make up for the better than average spreads. Overall, the website could be more transparent in that category but seems to deliver a clear and transparent explanation of all of the other conditions. At the end of the day, only you, the trader, can take all of this into consideration and decide whether this broker is a candidate worthy of your business.

SwissCapitalFX is a Forex broker based out of St Vincent and the Grenadines, claiming to be a market-leading provider when it comes to Forex and offering unparalleled trading conditions. These are bold claims and we are now going to take a closer look to see what they really offer and if they can live up to these claims.

Account Types

There are four different account types on offer from SwissCapitalFX, these are Silver, Gold, Platinum and Pro, each with their own perks and requirements. Let’s take a deeper look at what they each offer.

Silver Account:

This is the entry-level account at SwissCapital, it has a deposit range of between $0 and $4,999 however the minimum deposit with SwissCapitalFX is $100, the leverage offered on this account is 1:500 which is a very popular level, spreads are from 1.6 pips and there is no additional commission. You can open up to 100 positions and the minimum trade size is 0.01 lots with the maximum being 100 lots.

Gold Account:

The gold account has a slightly higher entry fee of a minimum deposit of $5,000 and a maximum deposit of $19,999. It maintains the 1:500 leverage, however, the spread is now reduced by 30%, there is still no commission being charged for this account. Lot sizes remain the same with 0.01 lots being a minimum and 100 lots being the maximum.

Platinum Account:

The platinum account deposit requirement further increases with a minimum deposit of $20,000 and a maximum of $49,999. Leverage remains at 1:500 and the spreads are further reduced by another 30% and there is still no commission being charged. The maximum number of open trades increases from 100 to 200, however, the trade sizes remain the same as 0.01 lots minimum and 100 lots maximum.

Pro Account:

This is the top tier account and so you need a minimum deposit of at least $50,000 which will price out a lot of retail clients. Leverage again remains at 1:500, however, this account is charged differently, the spread is reduced to a minimum of 0 pips, but the commission will now be charged with each trade (however we are unsure how much). Minimum trade size has been increased to 0.1 lots but the maximum trade size has been increased to unlimited, along with the maximum allowed opened positions.

Also note that all accounts come with the ability to hedge, use of expert advisors, copy trading, crypto trading, dedicated support, and all account types can also come in an Islamic version. All accounts have a base currency of USD, EUR or GBP and use the MetaTrader 4 trading platform.

There are a lot of features on offer and all four accounts seem quite enticing, so we approve of the account types which are on par with the majority of the competition.

Platforms

There is one platform on offer from SwissCapitalFX, and that is MetaTrader 4 (MT4). MetaTrader 4 is currently available as a desktop download or as an app for your Android and iOS devices, this gives a good amount of flexibility to trade both at home and on the move. MT4 is one of the most popular trading platforms due to its flexibility and compatibility with thousands of expert advisors and indicators. You can’t really go wrong with MT4, and a broker focusing solely on it as a trading platform is not such a bad idea. It would, however, have been nice to have a little choice, but we can not complain about MT4.

Leverage

All account with SwissCapitalFX come with a maximum leverage of 1:500, you aren’t stuck using this leverage though, if you want to reduce it you can and there are ranges anywhere between 1:1 and 1:500, this can be changed at any time as long as there are not any open trades.

Trade Sizes

Trade sizes with the silver, gold, and platinum account start with a minimum trade size of 0.01 lots (micro lot) and a maximum of 100 lots, this is more than enough for 99.9% of all retail traders. The VIP account jumps up a bit with a minimum trade size of 0.1 lots and there is no maximum trade size, however, we can not see many people going past the 100 lot size limit of the other accounts anyway.

Trading Costs

SwissCapitalFX uses two different costing methods, the silver, gold and platinum accounts use a spread based system with the silver account having a 1.6 pip spread on average and the gold account reducing this number by 30% and the platinum reducing it by a further 30%.

The VIP account has a 0 pip spread but charges a commission, we had a good rummage around the site for the commission numbers, however, we were unable to locate it so we are unsure on what amount of commission is actually charged.

There are also waps charged for holding trades overnight, these can be viewed both on the site and also from within the MT4 platform. Islamic accounts are also available if you are unable to accept or pay swaps.

Assets

There are a number of different tradable assets with SwissCapitalFX, they are broken down into the following categories:

Forex: Over 60 instruments from major, minor and exotic pairs.
Energy Commodities: Metals, energies and agricultural commodities are available.
Stock Indices: Global indices with no commission or fees.
Equity Shares: Popular shares such as Apple, Tesla, and Amazon.

Spreads

Spreads start at an average of 1.6 for the silver account and are then reduced by 30% for the gold account, then further reduced by 30% for the platinum account. The VIP account states 0 pip spread, however, there will be some spread due to fluctuation, there is a commission charged on trades on this account though.

Minimum Deposit

Even though the silver account states a minimum of $0, there is an overall minimum deposit of $100. If you want the benefits of a higher tier account then you will need to increase this amount to a minimum of $5,000. $100 is a pretty standard minimum within the forex industry.

Deposit Methods & Costs

There are a number of different methods available with SwissCapitalFX, these are Visa / Mastercard deposits, Skrill, Neteller, and bank transfer. Each has a minimum deposit of $100 and there are no added fees to the transactions. All deposit methods are instant except for bank transfer which can take 3 – 5 business days.

Withdrawal Methods & Costs

The same methods are available for withdrawal as they were for deposits. If you withdraw via bank card there are no charges, however requesting a bank transfer withdrawal will have a charge of $30 added to the transaction. It has been a while since we have seen a broker adding fees to withdrawals and it so it is a shame to see it here.

Withdrawal Processing & Wait Time

We had to dig deep into the terms and conditions to find any relevant information, the terms state that SwissCapitalFX will process all withdrawal requests within one working day, how long it takes after this will depend on the method and the bank you are receiving the money at. For e-wallets this is usually the same day, for other banks via bank transfer this will usually be between 3 – 5 business days.

Bonuses & Promotions

There are no bonuses or promotion advertised on the site, however when using their search bar, we can see some now expired promotions and bonuses, so it is clear that SwillCapitalFX has been doing bonuses in the past, there just aren’t any available right now. Be sure to check them out regularly to see if any new promotions have popped up.

Educational & Trading Tools

There is only an economic calendar available with SwissCapitalFX and nothing else, the calendar is nice to have but it is not as informative as many other ones available elsewhere on the internet. It would have been nice for there to be more education for their clients.

Customer Service

If you need to get in contact with SwissCapitalFX there are a number of different ways to do it. You can use their live chat which opens up pretty quick and response is acceptable, we got through to someone after around 4 minutes, there was a small delay between each response but nothing we aren’t used to. They also have a number of different phone numbers depending on the department you need as well as an email address and a postal address, so plenty of ways to get in touch.

Demo Account

We could not locate any information in regards to demo accounts, so we are unsure if these are being offered, if they are, they are not easy to find.

Countries Accepted

We could locate information regarding this on the site or within the Terms and Conditions.

Conclusion

SwissCapitalFX has a number of benefits, their accounts offer competitive features and prices and while they only offer one trading platform, it is MetaTrader 4 which is a very solid choice. The fact that there are fees charged on some of the withdrawals is a bit of a disappointment as the majority of modern brokers are no longer charging for withdrawals, that along with no demo accounts makes it harder for us to fully test the service. While SwissCapitalFX is certainly not the worst broker around, we feel that due to the fees, it may be better to look elsewhere.

If you enjoyed this review and wanted to see more, make sure to check out our other reviews to help find the broker that is right for you.