LiveFX Exchange-Overview of Minimum Deposit, Spreads & Leverage

General Information

LiveFX Exchange is allegedly a broker based in China that provides its clients with the industry-standard MetaTrader5 trading platform, leverage up to 1:500, variable spreads on over 200 tradable assets, as well as a choice of three different account types and 24×5 customer support services.

Market Instruments

LiveFX Exchange advertises that it offers more than 200 trading instruments in financial markets, which include forex, CFDs, metals, indices and futures.

Account Types

There are three live trading accounts offered by LiveFX Exchange, namely Standard, Advanced and Expert. Opening a Standard account requires the minimum initial deposit amount of $500+, while the other two account types with the much higher minimum initial capital requirements of $2,500+ and $10,000+ respectively.

Leverage

Traders holding different account types can experience quite different maximum leverage ratios. Clients on the Standard account can enjoy the maximum leverage of up to 1:500, while the Advanced account with leverage as high as 1:400 and the Expert account can experience the leverage of 1:200. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads

Spreads are influenced by what type of accounts traders are holding. LiveFX reveals that the spreads in the Standard account start from 1.5 pips, the clients on the Advanced account enjoy spreads from 1.0 pips, while the Expert account with the lowest spreads from 0.4 pips.

Trading Platform Available

When it comes to trading platforms available,LiveFX gives traders the worlds most widely-used MetaTrader5 platform, available on smartphones including iPhone and Android, tablets and laptops. MetaTrader5 is known as one of the most user-friendly, efficient, and competent forex trading software for any kind of trader, equipped with more native supported assets, execution options, order types, Expert Advisors (EA), a wide selection of trading indicators and drawing tools. While with MT5 mobile versions, trading can be done from anywhere and at any time through the right mobile terminals.

Deposit & Withdrawal

We didn‘t find any information about deposit or withdrawal methods on LiveFX’s official site. According to the information searched on the Internet, the broker seems to accept deposits via Bitcoin only. The minimum deposit requirement says to be $500+, while the minimum amount allowed for withdrawal is $100. As for the processing time of deposit and withdrawal requests, deposits are instant while the withdrawal requests are said to be processed within 48 hours.

Customer Support

LiveFX Exchange‘s customer support can be reached by telephone: +441173181652, email: info@livefx.exchange, live chat or send messages online to get in touch. Besides, you can also follow this broker on some popular social media platforms like Facebook, Twitter, LinkedIn and Skype. However, this broker doesn’t disclose other more direct contact information like company address while most brokers offer.