FXSuit-Overview of Minimum Deposit, Spreads & Leverage

WikiFX | 2021-11-24 19:28

Abstract：FX Suit is forex brokerage registered in Bermuda. The company behind the brokerage is registered with the name – Salvax Limited. The company is based in Bermuda which is an UK territory overseas in the North Atlantic Ocean.

General Information & Regulation

FX Suit is forex brokerage registered in Bermuda. The company behind the brokerage is registered with the name – Salvax Limited. The company is based in Bermuda which is an UK territory overseas in the North Atlantic Ocean. It also owns and operated the broker brand Navitas Markets. The government of Bermuda does not regulate Forex trading. We can safely conclude that the brokerage does not comply with any regulatory rules.

Risk Warning

An offshore location always brings with it unnecessary risk for traders because in case of fraud they have no authority for complaints, nor access to any sort of financial compensation scheme.

Markets Instruments

FXSuit offers 83 forex pairs with many exotic currencies like the Brazilian Real, Singapore Dollar, Norwegian Krone, Swedish Krona, Danish Krone, Hong Kong Dollar, Hungraina Forint, Polish Zloty, Czech Krona, South African Rand, Mexican peso, Turkish Lira, Russian Rubble and Chinese Yuan. Apart form those, while checking FXSuit trading platform we cam across a number of CFDs on spot metals like gold, silver, platinum and palladium, various agricultural and energy commodities like soybeans, wheat, coffee, cocoa, rice, sugar cotton, corn, copper, natural gas and oil, some 17 indices, stocks and even crypto coins – Bitcoin, Ethereum, Ripple and Litecoin. Besides, here you may also check our list of brokers, trading with Bitcoin CFDs:

Minimum Deposit

You can start trading with FXSuit with just a few dollars and that is great. However, since FXSuit is an unregulated broker, it is unsafe to register real trading accounts here.

Leverage

After leverage levels were caped throughout Europe, following similar moves by the regulators in the US and Japan, leverage as high as 1:500 as offered by FXSuit has become quite rare. Still, keeping in mind the risks associated with the higher leverage.

Spreads & Commissions

The spread on the EUR/USD pair is from 2.5 pips, higher than the industry standard, not a competitive pricing.

Trading Platform Available

FXSuit supports MetaTrader4 and this is another positive point. The platform is well known to traders – both professional and beginner. It features numerous market indicators and customizable trading bots, enabling you to run automated trading sessions. Also, the platform is light, with user-friendly interface and various charting tools.

Deposit& Withdrawal

Potential clients of the brokerage may deposit or withdraw via the standard Visa and MasterCard, as well as popular e-wallets such as Skrill and Neteller, FasaPay, as well as DotPay. Furthermore, there are withdrawal fees for the different payment gateways. Withdrawals via credit/debit cards are charged 2 euro per transaction while withdrawals via bank wire are charge-free. E-wallets Skrill, Neteller and FASAPAY are incurred the following fees respectively: 1 percent, 2 percent and 0.5 percent. DotPay is also charge-free.

Broker

Related broker

No Regulation

FXSuit

Company name：Salvax Limited.

Score

1.58

Website：https://www.fxsuit.com/en

5-10 years | Suspicious Regulatory License | Suspicious biz area | High potential risk

Score

1.58

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