FXTRADING.com Review
4.3
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74 - 89 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
One of the key strengths of FXTRADING.com is its comprehensive trading offerings. The broker provides access to a wide range of financial instruments, including forex, stocks, commodities, indices, and cryptocurrencies. This diverse selection allows traders to explore various markets and diversify their portfolios.
The trading platform offered by FXTRADING.com is intuitive and user-friendly, making it suitable for traders of all experience levels. The platform provides advanced charting tools, real-time market data, and a variety of order types, enabling traders to execute trades efficiently and make informed decisions.
FXTRADING.com emphasizes competitive pricing and offers competitive spreads and low trading fees. This can be advantageous for active traders who engage in frequent trades and seek cost-effective solutions. However, it's always recommended to review the specific fee structure and trading conditions on their website.
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Deposit and withdrawal at no cost
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Safeguard against negative balances
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Minimal forex fees
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Regulation by a leading authority
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Swift and straightforward account opening
Overview
Year founded
Minimum deposit
Withdrawal fee amount
Available Offerings
Platforms available
2014
200$
0$
Forex, CFD, Crypto
Desktop, Mobile, Web
Account Opening
Opening an account at FXTRADING.com is very easy, thanks to its user-friendly, fully digital account opening process. However, it's worth noting that the deposit required is a bit higher compared to its competitors. For the Standard Account, the minimum deposit stands at $200. Pro or Alpha accounts, are slightly steeper minimum deposits of $1,000 and $10,000, respectively. FXTRADING.com offers a convenient option to open a Demo account for a span of 30 days. During the registration for the demo account, you're given the flexibility to choose the initial deposit amount. When it comes to actual trading accounts, FXTRADING.com presents three distinct choices: Standard Account: Minimum deposit of $200, with wider spreads and no commission, Pro Account: Minimum deposit of $1,000, featuring narrower spreads and a $3.5 per lot per trade commission, Alpha Account: Minimum deposit of $10,000, offering narrow spreads and a $3.0 per lot per trade commission. If you are interested in trading share (stock) CFDs, the options diversify into Silver, Gold, and Platinum accounts. The dedicated platform here is IRESS, albeit with a platform fee in most cases and notably higher minimum deposits. Silver Account: Financing cost of 3.00% +/- Floating Interest Rate, Platform fee of AUD 60, Minimum Commission for US stocks at $10, and a minimum deposit of AUD 10,000, Gold Account: Financing cost of 2.50% +/- Floating Interest Rate, Platform fee of AUD 60, Minimum Commission for US stocks at $8, and a minimum deposit of AUD 50,000, Platinum Account: Financing cost of 2.25% +/- Floating Interest Rate, No platform fee, Minimum Commission for US stocks at $2, and a minimum deposit of AUD 100,000. Opening an account at FXTRADING.com is a swift and entirely digital process, it takes approximately 10 to 15 minutes to register, including very fast verification. The account setup on FXTRADING.com are four simple steps: 1. Begin by providing your email address and phone number. 2. Proceed to your personal details like your date of birth and address. 3. Verify your identity and residency by uploading essential documents, including a copy of your passport or ID, and a bank statement or utility bill. 4. Lastly, address inquiries about your citizenship status and any political exposure, then conclude by selecting your account type, base currency, and preferred leverage.
Safety
FXTRADING.com operates under the watchful oversight of the esteemed ASIC regulatory body, and it prioritizes safeguarding against negative balance scenarios. Nevertheless, it's important to note that there isn't investor protection in place. FXTRADING.com falls under the regulation of both the Vanuatu Financial Services Commission (VFSC) and the Australian Securities and Investments Commission (ASIC). FXTRADING.com is committed to providing you with negative balance protection. In the event that your account balance dips into the negative, rest assured that protective measures are in effect to shield you. Established in 2014, FXTRADING.com is headquartered in Australia.
Risk Disclaimer
Trading securities carries a significant level of risk. When it comes to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is substantial exposure to various risks. These risks include, but are not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility. They can have a significant impact on the price or liquidity of a currency or related instrument. It is important to note that the methods, techniques, or indicators provided in these products may not necessarily yield profits, and there is a possibility of incurring losses. For more information on the risks associated with forex trading, please refer to further resources.
Summary
At FXTRADING.com, you'll find that their forex fees are set at a wallet-friendly level, and the process of opening an account is both rapid and hassle-free.
Notably, deposits and withdrawals come at no cost to you, while FXTRADING.com stands regulated by the highest-ranking regulatory bodies.
However, it's worth highlighting that their product portfolio covers only forex and CFDs. Also,
it's important to acknowledge that investor protection isn't offered.
Summing it all up, FXTRADING.com has gone the extra mile to create a seamless and approachable entry into trading.
Their array of account choices caters to a variety of preferences and trading approaches.