tier1fx Spreads, leverage, minimum deposit Revealed

WikiFX | 2021-04-21 14:27

Abstract：Tier1FX is a STP/DMA broker, eliminating the inherent conflicts of interest that may occur between market makers and clients. This broker specializes in a variety of trading instruments such as Forex, Precious Metals, Commodities, CFDs, etc. Traders can trade through multiple platforms in different versions, such as T1FX MT4, JForex, FORTEX 6, and FIX API.

Tier1FX Review Summary
Founded	2013-06-04
Registered Country/Region	Malta
Regulation	Regulated
Market Instruments	Forex/Spot Commodities/Spot Precious Metals/CFDs
Demo	✅
Leverage	Up to 1:200
Spread	ultra-low
Trading Platform	T1FX MT4 & JForex(Android/iPhone/iPad)/FORTEX 6/FIX API
Min Deposit	1,000 EUR or equivalent
Customer Support	Email: support@tier1fx.com
Customer Support	Phone: +356 23 27 3000

Tier1FX Information

　　Tier1FX is a STP/DMA broker, eliminating the inherent conflicts of interest that may occur between market makers and clients. This broker specializes in a variety of trading instruments such as Forex, Precious Metals, Commodities, CFDs, etc. Traders can trade through multiple platforms in different versions, such as T1FX MT4, JForex, FORTEX 6, and FIX API.

Pros and Cons

Pros	Cons
Regulated	Unspecific spread information
MT4 available	Comments about being unable to withdraw
Demo available
Leverage up to 1:200

Is Tier1FX Legit?

　　Malta Financial Services Authority(MFSA) regulates Tier1FX with license number C 18954 and License Type Market Making(MM), making it safer than the unregulated one. Due to regulatory restrictions, applications from residents of the United States, Iran, North Korea, and Japan cannot be processed.

What Can I Trade on Tier1FX?

　　Tier1FX offers various market instruments, including 50+ Forex pairs, Spot Precious Metals, Spot Commodities, Index CFDs, Multi-Asset Trading, and CFDs on Cryptos.

Tradable Instruments	Supported
Forex	✔
Spot Commodities	✔
Spot Precious Metals	✔
Index CFDs	✔
Multi-Asset Trading	✔
CFDs on Cryptos	✔

Account Type

　　Tier1FX offers main trading accounts for EUR, USD, and GBP，and demo accounts with a default validity period of 60 days. The demo account is predominantly used for familiarizing traders with the trading platform and for educational purposes only.

Account Type	Main
Base Currencies	EUR, USD, GBP
Minimum Initial Deposit	1,000 EUR/USD/GBP
Maximum Leverage	1:200

Leverage

　　The leverage for retail clients is 1:2-1:30, for retail clients it is 1:2-1:100, and for all other clients, it is 1:2-1:200.

Trading Platform

　　Tier1FX offers a variety of trading platforms, such as MT4-the world's most well-known foreign exchange platform, JFOREX linked to ECN-Swiss Foreign Exchange Market (SFXM) liquidity, FORTEX 6, and FIX API. Both T1FX MT4 and JForex offer mobile applications for Android, iPhone, and iPad.

Trading Platform	Supported	Available Devices
T1FX MT4	✔	Android/iPhone/iPad
JForex	✔	Android/iPhone/iPad
FORTEX 6	✔	-
FIX API	✔	-

Deposit and Withdrawal

　　The minimum initial deposit to open an account is 1,000 EUR or equivalent in other currencies. Bank wire deposits are processed instantly, but international transfers may take 3-5 business days to reach our bank account. Withdrawals may take up to 3-5 business days for international bank transfers and up to 10 business days for funds to reach your credit card. A fixed fee* of $20/€15/£15 applies to each withdrawal.