FRFX

WikiFX | 2024-10-22 15:53

Abstract：FRFX is a financial services provider that aims to offer trading and investment opportunities to its clients. While it provides a popular trading platform, MT5, and claims to be regulated by FINTRAC, there is a concerning issue with the accessibility of its website. The inability to access the website raises questions about transparency and the ability to engage in trading activities seamlessly. It is highly recommended that clients thoroughly consider this issue of website accessibility and carefully assess its potential impact before engaging with FRFX or any other financial services provider. Transparency, reliability, and ease of access should be essential factors when evaluating the suitability of a trading platform.

FRFX Review Summary
Founded	2022
Registered Country/Region	Hong Kong
Regulation	FINTRAC
Market Instruments	Forex, Stocks, Commodities, Cryptocurrencies
Demo Account	Not mentioned
Leverage	Up to 1:400
Spread	From 0.2 pips (EURUSD)
Trading Platform	MT5
Min Deposit	$100
Customer Support	Email: support@florisiprime.com

FRFX Information

Established in 2022, FRFX is an unregulated brokerage company registered in Hong Kong. This firm provides more than 350 tradable instruments with its popular trading platform (MT5). FRFX gives five live trading accounts.

However, no phone support option could be a barrier for some investors.

Pros and Cons

Pros	Cons
350+ investment options	Limited customer support options
User-friendly MT5 platform
Multiple account types ( MINI, STD, VIP, PRO, and Trader)
Leverage options available
Regulated by the FINTRAC

Is FRFX legit?

FRFX is officially licensed and regulated by The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) under license number M20201096.

What Can I Trade on FRFX?

With FRFX, you can make a diversified portfolio in 5 asset classes, including forex, futures, indices, commodities, stocks, and cryptocurrencies. This firm claims to offer more than 350 tradable instruments.

Compared to some other online brokerages, FRFX doesn't offer as many ways to invest. There's no ETFs trading or bonds trading. But overall, you still have a good mix of investment options.

Tradable Instruments	Supported
Forex	✔
Stocks	✔
Futures	✔
Indices	✔
Commodities	✔
Cryptocurrencies	✔
Bonds	❌
Options	❌
Mutual Funds	❌
ETFs	❌

Account Types

Some online brokerages provide various account types. The bright side of this approach is that you might pay less in fees the more you invest.

FRFX presents five live trading accounts: MINI, STD, VIP, PRO, and Trader. Tighter spreads and higher margin call ratios become available as your investment grows.

If you invest at least $20,000, you will have spreads from 0.2 pips and a margin call ratio as high as 0.5.

Account Type	MINI	STD	VIP	PRO	Trader
First Deposit	100 USD	2,000 USD	5,000 USD	20,000 USD	5,000 USD
Subsequent Fund	100 USD				300 USD
Leverage		Currencies: Up to 400x; XAUUSD: Up to 200x; Cryptocurrency: Up to 100x; CFD: Up to 100x
Minimum Spread	EURUSD: 1.8+; XAUUSD: 3.5+	EURUSD: 1.3+; XAUUSD: 3.0+; EOSUSD: 1000; BTCUSD: 5000	EURUSD: 1.1+; XAUUSD: 2.8+; EOSUSD: 1000; BTCUSD: 5000	EURUSD: 0.2+; XAUUSD: 1.5+; EOSUSD: 1000; BTCUSD: 5000
Margin Call Ratio	0.2	0.3	0.5
Single Position Size	0.01-30	0.01-30	0.1-30	0.01-30	0.1-30

Leverage

FFRFX offers varying maximum leverages across its account types. The maximum leverage is 1:400. Detailed information is as follows:

Account types	Maximum Leverage
MINI	1:100 (Currencies: Up to 100x; XAUUSD: Up to 50x)
STD	1:400 (Currencies: Up to 400x; XAUUSD: Up to 200x; Cryptocurrency: Up to 100x; CFD: Up to 100x)
VIP	1:400 (Currencies: Up to 400x; XAUUSD: Up to 200x; Cryptocurrency: Up to 100x; CFD: Up to 100x)
PRO	1:400 (Currencies: Up to 400x; XAUUSD: Up to 200x; Cryptocurrency: Up to 100x; CFD: Up to 100x)
Trader	1:400 (Currencies: Up to 400x; XAUUSD: Up to 200x; Cryptocurrency: Up to 100x; CFD: Up to 100x)

FRFX Fees

This firm provides spread starting from 0.2 pips. The spreads for EUR/USD are as follows:

Account types	Spreads
MINI	From 1.8 pips
STD	From 1.3 pips
VIP	From 1.1 pips
PRO	From 0.2 pips
Trader	From 0.2 pips

Trading Platform

MT5 (MetaTrader 5) is available with FRFX. You can apply it on multiple devices, including Windows, MAC, Android, and IOS.

Trading Platform	Supported	Available Devices	Suitable for
MT5	✔	Windows, MAC, iOS, Android	Investors of all experience levels
MT4	❌
Proprietary platform	❌