Galaxy ECN Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-10-16 22:38

Abstract：Galaxy ECN is a broker. Forex, commodities, metals, indices, energies, and softs are the broker's trading markets and standard, pro, and VIP are the broker's account types. In addition, Galaxy ECN sets a minimum spread of 0, a minimum deposit of $200, and a maximum leverage of 1:500.

Galaxy ECNReview Summary
Founded	2023-11-15
Registered Country/Region	United Kingdom
Regulation	Unregulated
Market Instruments	Forex, Commodities, Metals, Indices, Energies & Softs
Demo Account	✅
Leverage	Up to 1:500
Spread	Start from 0
Trading Platform	MT4
Min Deposit	$200
Customer Support	Phone: +971 50 7982131
Customer Support	Email: support@galaxyecnltd.com

Galaxy ECN Information

　　Galaxy ECN is a broker. Forex, commodities, metals, indices, energies, and softs are the broker's trading markets and standard, pro, and VIP are the broker's account types. In addition, Galaxy ECN sets a minimum spread of 0, a minimum deposit of $200, and a maximum leverage of 1:500.

Pros and Cons

Pros	Cons
24/7 Support	Unregulated
Leverage up to 1:500	Bad review: Difficult to withdraw money
Demo account available	Official website inaccessible
Various trading markets: forex, commodities, metals, indices, etc.
Multiple account types: standard, pro, and VIP
Spread as low as 0

Is Galaxy ECN Legit?

　　Galaxy ECN is not regulated, even if the broker claims to be authorized and regulated by the Financial Services Authority of the UK.

What Can I Trade on Galaxy ECN?

　　Traders can invest in forex, commodities, metals, indices, metals, energies, and softs on Galaxy ECN. Different currencies that can be invested in forex include FX Minors, Majors, Crosses, Exotics, Yen, and Europe. Traders can invest in various metals such as copper, silver, gold, platinum, etc. on the spot and future. In addition, there are energy products including natural gas and crude oil.

Tradable Instruments	Supported
Forex	✔
Commodities	✔
Metals	✔
Indices	✔
Metals	✔
Energies	✔
Softs	✔
Bonds	❌
Mutual Funds	❌

Account Type

　　Galaxy ECN offers three trading account types: standard, pro, and VIP. The spread range is 0.0-0.4pips, and the minimum deposit range is $200-$50,000. It is recommended that beginners and intermediate traders choose a standard account with a leverage of 1:100. Experienced and active traders are more suitable for pro accounts, with a leverage of 1:200. VIP accounts are more likely to be opened by high-volume and institutional traders, enjoying leverage up to 1:500.

Account Type	Standard	Pro	VIP
Applicable people	Beginners and intermediate traders	Experienced and active traders	High-volume and institutional traders
Leverage	1:100	1:200	1:500
Spreads	0.2-0.4 pips	0.1-0.2 pips	0.0-0.1 pips
Commissions	$2-$10 per lot	$1-$5 per lot	Not mentioned
Minimum Deposit	$200	$10000	$50000
Demo Account	Yes, unlimited duration	Yes, unlimited duration	Yes, unlimited duration

Galaxy ECN Fees

　　The spread is 0.0-0.4pips, and the maximum commission is $10.

Leverage

　　The maximum leverage is 1:500, which means that profits and losses are magnified 500 times.

Trading Platform

　　Galaxy ECN supports the MT4 online trading platform, and the applicable versions are DESKTOP, ANDROID, and iOS.

Trading Platform	Supported	Available Devices
MT4	✔	DESKTOP, ANDROID, and iOS

Deposit and Withdrawal

　　The minimum deposit is $200. Galaxy ECN accepts credit/debit cards(Visa、Mastercard and Maestro), bank transfers, and e-wallets like Skri and Neteler. In addition, Sofort, Trustly, and Giropay are also available. The processing time is 5 working days at the latest. Note that traders using Galaxy ECN have reported difficulty withdrawing funds.

Customer Support Options

　　Galaxy ECN offers 24/7 customer support and traders can contact Galaxy ECN via email and phone.

Contact Options	Details
Phone	+971 50 7982131
Email	support@galaxyecnltd.com
Supported Language	English
Website Language	English
Physical Address	71-75, Shelton Street London, GreaterLondon, United Kingdom Wc2H 9JQ