FOXITRADE-Overview of Minimum Deposit, Leverage, Spreads

General Information

FOXITRADE is an allegedly online forex and CFD brokerage and investment firm registered in the Republic of the Marshall Islands and regulated by the National Futures Association (NFA), claiming to provide its clients with the worlds most widely-used MetaTrader4 platform, leverage up to 1:100, floating spreads on a variety of financial instruments, as well as 24/7 customer support service.

Market Instruments

FOXITRADE advertises that it offers a wide range of trading instruments in financial markets, including all forex major currency pairs, to all precious metals, oil, indexes, energies, commodities and futures.

Leverage

The maximum leverage ratio provided by FOXITRADE is up to 1:100. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads

Through the demo FOXITRADE MetaTrader4 account, we found the spread for EUR/USD pair was floating around 2 spreads.

Trading Platform Available

When it comes to trading platforms available,FOXITRADE gives traders the worlds most trusted and popular MeatTrader4 platform, available on Desktop, iPhone and Android terminals. MT4 is the latest state-of-the-art and multifunctional trading platform, known for its user-friendly and highly customized trading interface, offering advanced charting and analysis tools, copy and auto-trade options and more. While with the MT4 mobile app, trading can be done from anywhere and at any time through the right mobile terminals including iPhone and Android.

Deposit & Withdrawal

FOXITRADE claims to accept deposits and withdrawals with Bank Wire and credit/debit cards like Visa and MasterCard. Please note if you transfer with Bank Wire less than the minimum amount of $100, your trading account will be credited and disabled for trading. The broker says it does not charge any withdrawal fees, but banks may charge some withdrawal fees. As for the processing time of deposit and withdrawal requests, the deposits are said to be instant, excluding Bank Wire. While withdrawals with Bank Wire, it usually takes at least 2 working days for the funds to reach your account within the SEPA zone. Other than that, it requires 5 working days and it may take longer due to internal bank producers. By contrast, withdrawal with credit/debit cards, it usually takes 5-7 working days to process.

Customer Support

FOXITRADEs customer support can be reached through phone: +17158143959, email: info@foxitrade.com or send messages online to get in touch. Company address: Trust company complex, Ajeltake Road, Ajeltake Island, Majuro MH96960, Marshall Island.