Flag FX

WikiFX | 2024-10-22 18:55

Abstract：Flag FX is an unregulated financial service provider registered in Montenegro in 2015. Flag FX offers futures, indices, and forex trading through the MT5 platform. In addition, it provides three types of live accounts and a demo account, with a minimum deposit of $100 and a high leverage ratio of 1:500.

Flag FX Review Summary
Founded	2015
Registered Country/Region	Montenegro
Regulation	No regulation
Market Instruments	Futures, indices and forex
Demo Account	✔
Trading Platform	MT5
Leverage	1:500
Spread	From 1.0 pips
Min Deposit	$100
Customer Support	Live chat: 7/24
	Phone: +382 634 09 611
	Emaill: info@flagfx.com
	Physical Address: Radoja Dakica, The Capital Plaza V/44 Podgorica, Montenegro
	Facebook: https://www.facebook.com/flagfx
	Instagram: https://www.instagram.com/flagfx/

Flag FX is an unregulated financial service provider registered in Montenegro in 2015. Flag FX offers futures, indices, and forex trading through the MT5 platform. In addition, it provides three types of live accounts and a demo account, with a minimum deposit of $100 and a high leverage ratio of 1:500.

Pros and Cons

Pros	Cons
Multiple trading account types	Lack of regulation
Comprehensive customer service	Limited info on trading fees
Multiple trading choices
Demo accounts

Is Flag FX Legit?

Flag FX is an offshore broker, and its lack of regulatory oversight poses a significant risk to your assets. In addition, the domain of this broker was registered on February 20, 2018, was updated on February 8, 2024, and will expire on February 20, 2025.

What Can I Trade on Flag FX?

Flag FX offers three types of trading instruments across different asset classes, including futures, indices and 64 kinds of forex.

Tradable Instruments	Supported
Forex	✔
Commodities	❌
Indices	✔
Cryptocurrencies	❌
Stocks	❌
Futures	✔
Bonds	❌

Account Type

Flag FX offers three types of accounts for live operations: Standard, True ECN, and Islamic Account, each with a minimum deposit of $100. One thing to note is that for the True ECN account a $7 commission is charged per lot.

Additionally, Flag FX provides a demo account for beginners to practice trading in a risk-free environment.

Account Type	Standart	True ECN	Islamic/Swap Free
Number of Currency Pairs	64	64	50+ (Excluding Exotics)
Min Deposit	$100	$100	$100
Max Leverage	1:500	1:500	1:500
Spread	1	0	1
Commission	❌	$7 per lot	❌
Suitable For	Discretionary Traders	EAs & Scalpers	Who cannot earn or pay interest due to their religious beliefs

Leverage

The leverage offered by Flag FX ranges from 1:1 to 1:500. When considering the preferred leverage, you must be cautious because high leverage poses high risks and you may lose a large amount of assets when choosing high leverage.

Trading platform

Flag FX supports trading its products through MetaTrader 5, a multi-asset and professional platform. It offers advanced tools for price analysis, trading robots, Expert Advisors, and copy trading.

However, whether such an unregulated broker has obtained official trading permission from MT5 remains uncertain.

Trading Platform	Supported	Available Devices
MT4	❌	/
MT5	✔	Computer, phpne and Pad
cTrader	❌	/

Deposit and withdrawl

Flag FX supports depositing funds through VISA, Mastercard, Bitcoin, bank transfer, and American Express. The same methods are available for withdrawals. However, you must be aware that payments through Bitcoin are irrevocable, which poses high risks, and you'd better not deposit any funds with an unregulated broker.