Finance

Published on February 10th, 2021 | by Bibhuranjan

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FX Trading Review – What is FX Trading?

FX Trading is a consultancy and foreign exchange provider offering advice and expertise and Forex trading account service. FX Trading facilitates Forex trading on the Metatrader 4 app to register demo and live accounts. FX Trading provides Forex Trading education to beginners and offers information on current market trends to allow their customers to make wise trading decisions.

FX Trading Review – Account types

FX Trading offers two forms of trading account, regular, and ECN. Neither account has an exact minimum deposit and expenditures and collateral for beginner forex dealers. Unfortunately, such a large organisation does not include inexperienced traders.

  • Standard Account: Minimum deposit of $200.
  • ECN Account: Minimum deposit of $100.

The accounts offered are very simplistic and provide limited website information. The minimum deposits are large, but it takes a much greater spread for the regular account. These accounts are not suitable for beginners. Furthermore, FX Trading offers a 30-day trial account.

FX Trading Review – Trading platforms

You use the MT4 platform when trading with FX Trading. MetaTrader 4 offers all required resources and features, including advanced maps, skilled analysts, multiple technical metrics, robust backtesting, etc. FX Trading also delivers VPS (virtual private server) for the 24-hour use of expert advisors. However, there may be extra costs for the use of VPS depending on the exchange rate. It will vary between $29 and $98 each month.

The highest leverage is 1:400, but the norm is 1:100. You have the choice of leverage, depending on how much you are willing to risk your assets. The greater the leverage, the higher the risk and vice versa.

FX Trading Review – Trading Tools

You will exchange Forex, CFD measures and commodities in FX Trading. You have comprehensive reports about all the financial components on the website.

Their forex section addresses the benefits of the forex but does not mention their offering currencies. FX Trading tells us that they only sell 70 currency pairs, probably major, small and exotic pairs. FX Trading outlines what CFDs are and what incentives trading CFDs can bring. They say 11 big global stock indices are offered on MT4.

FX Trading Review – Payment and Withdraw options

FX Trading also offers very small payment options. The currencies often differ according to the mode of payment. Credit/Debit cards, Bank Wire, Neteller, and China UnionPay, are the various payment options available.

Although FX Trading does not charge any additional deposit fees and withdrawals via bank wires, cards exist. There are many costs for brokers using wallets. Foreign transfers are commonly also paid.

FX Trading provides only one e-wallet, but while it’s common, it’s not necessary. The currencies offered are very common, but it is disappointing that they vary in terms of the purchase volume.

FX Trading Review – Security

While FX Trading regulations do exist, they are very comprehensive. FX Trading shall be licenced under the ASIC-regulated name of Gleneagle Markets Pty Ltd. Researchers recommend rules to be set down by the brokers themselves because this ensures better control. There are also openings and vulnerabilities left whether a business is regulated rather than the broker.

FX Trading Review – Customer Service

Customer support on FX Trading is provided via chat, telephone or fax. The live chat lapses on the platform too and is mostly ignored. We have to update the website several times before opening the chat tab. Everyone knows that users should have all the options to contact FX Trading digitally. You should click on the “Contact us” tab.


Image by Gerd Altmann from Pixabay

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About the Author

Editorial Officer, technofaq.org I'm an avid tech enthusiast at heart. I like to mug up on new and exciting developments on science and tech and have a deep love for PC gaming. Other hobbies include writing blog posts, music and DIY projects.



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