LARIOX Spreads, leverage, minimum deposit Revealed

WikiFX | 2022-08-29 10:12

Abstract：Established in 2022, LARIOX is an online forex broker registered in Saint Vincent and the Grenadines, boasting that it offers clients access to a massive financial markets, such as Foreign Exchange, Indices and Cryptocurrencies. TradeFills gives two choices of trading platform, with leverage up to 1:5000, spreads as low as 0.0 pips. Besides, this broker says it is available for 24 hours, 7 days a week to assist.

　　General Information

　　Established in 2022, LARIOX is an online forex broker registered in Saint Vincent and the Grenadines, boasting that it offers clients access to a massive financial markets, such as Foreign Exchange, Indices and Cryptocurrencies.

　　TradeFills gives two choices of trading platform, with leverage up to 1:5000, spreads as low as 0.0 pips. Besides, this broker says it is available for 24 hours, 7 days a week to assist.

　　Is LARIOX safe to trade with？

　　When it comes to regulation, it has been verified that LARIOX, an unregulated offshore forex broker, has not authorized or regulated by any regulatory authorities. Consequently, its regulated status is classified as “No License” and it receives a very low score of 1.10/10 on the WikiFX website.

　　If you trade with a forex broker that is not regulated by a government agency, you are asking for a financial disaster. Please keep in mind the potential consequences.

　　Market Instruments

　　LARIOX claims to offers its clients access to a bulk of more than 500 trading instruments. Different types of trading assets, such as Foreign Exchange, Metals, Stocks, Indices, Energy, and Cryptocurrency are all available through this brokerage platform.

　　Account Types

　　LARIOX offers three tiered accounts designed for regular traders, professional traders and scalpers, respectively. the minimum deposit required by this broker is relatively low compared with many other brokers, with the Standard account from $10, the ECN account from $50 and the Scalper account from $200.

　　The low deposit requirement

　　a great opportunity for traders with different trading experience and level to test the waters of forex trading without risking too much money.

　　Stop Out Level: 20%.

　　How to open a live account with LARIOX？

　　Opening an account with LARIOX is simple and easy, with a few straightforward steps to follow:

　　1. Click on the “Open A Live account” Link and fill in the application form.

　　2. Upload your photo ID and Proof of Address document from inside your client portal which will be verified by this trading accounts.

　　3. After verification, your account is successfully registered. Fund your account and then start trading.

　　Leverage

　　Problematically, the maximum trading leverage offered by LARIOX is quite high, reaching up to 1:500, which is much above the levels considered appropriate by many regulatory authorities, with the maximum leverage for major pairs in Europe and Australia capped at 1:30, 1:50 in U.S and Canada.

　　Spreads & Commissions

　　Commission is not shared by this brokerage firm, and spread is determined by trading accounts.

　　The spreads offered by the Standard account start from 1.2 pips, and 0.6 pips from the ECN account, 0.2 pips from the Scalper account.

　　Swap Rates

　　If you plan to hold your position overnight, you should always consider swap rates as an additional cost. Each currency pair has its own swap charge and is measured on Standard size of 1.0 lots. Swap rates are calculated in points, MT4 covert them automatically into the base currency of your account.

　　As a reminder, swap fees are tripled on Wednesday evenings.

　　Trading Platform

　　LARIOX gives its clients access two choices of trading platform, the MT4 trading platform that can be accessed via Desktop, Mobile as well as a Webtrader. MT4 is among the most popular trading platforms around the world, featuring multiple technical indicators, robust charting package, the ability to use automated trading bots (Expert Advisors), and the flexibility of the interface.