FairForex-Overview of Spreads, Commissions, Leverage
Abstract：As an ECN broker, FairForex provides services for trading currency pairs and CFDs across a range of asset classes. It has been in business since 2018, has three offices, and is subject to SVG FSA regulation (St Vincent & The Grenadines Financial Services Authority). The business closes transactions at the best price and assures there won't be any requotes by using the A Book execution approach. Customers of Fair Forex have the option of trading independently as well as earning passive money through the use of the MAM system, a trade copying service that also makes use of robot advisers.
Note: Fair Forex's official website: https://fairforex.com/ is inaccessible normally.
| Fair ForexReview Summary | |
| Founded | 2022 |
| Registered Country/Region | United Kingdom |
| Regulation | VFSC |
| Market Instruments | Stocks, indices, forex, commodities, cryptocurrencies |
| Account Type | Raw Spread, Standard, Pro |
| Leverage | Up to 1:500 |
| Spread | From 0.0 pips |
| Trading Platform | MT4, MT5 |
| Min Deposit | $50 |
| Payment Method | Bank Transfer, Visa, MasterCard, Zelle, BTC, Paypal and Cashapp. |
| Customer Support | Email: support@fairforex.com |
| Physical Address: Suite 305, Griffith Corporate Centre, Beachmont, Box 1510, Kingstown, St Vincent and the Grenadines. | |
Fair Forex Information
Fair Forex is a brokerage registered in the United Kingdom. The trading instruments it provides cover stocks, indices, forex, commodities, cryptocurrencies. It is regulated by VFSC. Its maximum leverage is 1:500. The min deposit is $50. It offers 8 types of payment methods.
Pros and Cons
| Pros | Cons |
| Wide range of instruments | Suspicious clone |
| Low minimum deposit of $50 | No demo trading account |
| Generous leverage up to 1:500 | No Islamic trading account |
| Low spreads start from 0.0 pips | |
| MT4 and MT5 supported |
Is Fair Forex Legit?
Fair Forex is regulated by VFSC in Vanuatu. Its current status is Suspicious Clone.
| Regulated Country | Regulated Authority | Regulated Entity | License Type | License Number | Current Status |
| Vanuatu | VFSC | Fair Forex(UK) Ltd | Retail Forex License | 700478 | Suspicious Clone |
What Can I Trade on Fair Forex?
Fair Forex offers traders the opportunity to trade Stocks, indices, forex, commodities, cryptocurrencies.
| Tradable Instruments | Supported |
| Stocks | ✔ |
| Indices | ✔ |
| Forex | ✔ |
| Commodities | ✔ |
| Cryptocurrencies | ✔ |
| Precious metals | ❌ |
| Energies | ❌ |
| Futures | ❌ |
| Options | ❌ |
Account Type
Fair Forex provides 4 types of account types, which are Raw Spread, Standard, Pro and Enterprise.
| Account Type | Raw Spread | Standard | Pro |
| Min Deposit | $50 | $50 | $10000 |
| Maximum Leverage | 1:500 | 1:500 | 1:500 |
| Spread | From 0.0 pips | From 0.8 pips | From 0.0 pips |
| Commissions Per 1.0 Lot | $6 | $0 | $5 |
| Max Lot Size | 500 | 500 | 1000 |
Fair Forex Fees
Fair Forex'spreads that start from 0.0 pips. Raw Spread Account charges $6 commissions per 1.0 lot. Standard Account charges $0 commissions per 1.0 lot. Raw Spread Account charges $5 commissions per 1.0 lot.
Trading Platform
Fair Forex's trading platforms are MT4, MT5, which support traders on PC, Mac, iPhone and Android.
| Trading Platform | Supported | Available Devices |
| MT4 Margin WebTrader | ✔ | Web, Mobile |
| MT5 | ✔ | Web, Mobile |
Deposit and Withdrawal
Fair Forex accepts deposits and withdrawals with Bank Transfer, Visa, MasterCard, Zelle, BTC, Paypal and Cashapp.
| Method | Currency | Deposit Fees | Withdrawal Fees | Deposit Time | Withdrawl Time |
| Bank Transfer | USD | $0 | $3 | Same Day | Same Day |
| Visa | USD | $0 | $0 | Instant | 2-5 days |
| MasterCard | USD | $0 | $0 | Instant | 2-5 days |
| Zelle | USD | $0 | $0 | 4 hours | Same Day |
| BTC | USD | $0 | Vary | 4 hours | Same Day |
| Paypal | USD | $0 | $0 | 4 hours | Same Day |
| Cashapp | USD | $0 | $0 | 4 hours | Same Day |
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