FXTrading.com Complete Review - Benefits and Drawbacks Revealed

FXTrading.com is an online forex brokerage that caters to individuals seeking the security of Australian Securities and Investments Commission (ASIC) regulation. This evaluation looks at the broker's features, platforms, and security to help you decide whether it's a good location to start trading.

Headlines from FXTrading.com

The headquarters of FXTrading.com are in Sydney, Australia. Gleneagle Securities Pty Ltd owns the firm. After launching its virtual doors in 2014 under the name RubixFX, the company rebranded in 2020 to the premium domain 'FXTrading.com' to broaden its worldwide reach.

Platform MetaTrader 4

FXTrading.com offers the well-regarded MetaTrader 4 (MT4) platform. With quick execution speeds and broad functionality, including indicators, charting tools, and trading signals, MT4 is largely recognized as the greatest platform in the online retail trading sector.

All platforms, including desktop, online, and mobile trading stations, are accessible for download. Unfortunately, MetaTrader 5 is not available at this time.

MetaQuotes Multi Account Manager (MAM) platform is also available from FXTrading.com. Clients may manage several accounts without having to create an investment fund.

Furthermore, customers seeking a more hands-off trading account may make use of the MetaQuotes Percentage Allocation Management Module (PAMM). Using the service, 'Master' fund managers may trade on your behalf. You select the parameters and the fund manager trades within those parameters.

Learn more about WikiFX Expert Advisors and how they may assist you with your trading journey.

Markets

FXTrading.com provides access to the majority of online markets, including forex and cryptocurrency trading, as well as CFDs on indices and commodities:

• Forex — There are 44 forex pairs accessible, including majors as well as a fascinating mix of crosses and exotics.

• Cryptocurrency – Bitcoin and Ethereum Indices – 17 indices may be traded, including the majority of the major players from Europe, North America, and Asia, such as the NASDAQ 100 and Dow Jones US 30.

• Metals and energy - Most commodities, including gold, silver, and oil, may be exchanged.

Commissions and Spreads

FXTrading.com offers reasonable spreads. Raw spreads on their Pro account are changeable and begin at 0 pips. The fee on these deals, however, is $3.50AUD per lot.

Variable spreads start at 1 pip on the Standard account and there is no commission. Spreads on gold and silver start at 10 cents and 1 penny, respectively. Other commodities begin at one pip. Indices begin at 0.5 pip.

• Raw Spread for Pro Account $3.5 per lot / each side Commission

• Raw Spreads in Alpha Account $3.0 per lot / per side Commission

• No Commission on Standard Account Variable from 1 pip

Leverage

Leverage is high in comparison to European regulated brokers and varies according to the asset being traded. For FX, all account types provide leverage of up to 1:500.

Having said that, ASIC is implementing stronger limitations to safeguard customers beginning in March 2021:

• 1:30 p.m. ET on key currency pairings

• 1:20 on minor currency pairings, gold, or big stock indexes

• Commodities (other than gold) or small stock market indexes at a ratio of 1:10

• 1:5 on stock options or other assets

• 1:3 on cryptocurrency assets

Apps for Mobile Devices

Download the MT4 mobile app from Google Play or the Apple App Store.

The software makes it simple to transfer between devices while keeping trading functionality intact. To begin trading, just register for a genuine or demo account on the FXTrading.com website. After you've created an account, you'll get instructions on how to use the app.

Payments

Accounts at FXTrading.com may be opened in the following base currencies: AUD, USD, EUR, GBP, SGD, NZD, and CAD.

Investors may make deposits using any of the following methods:

• Paypal, WorldPay, Visa, MasterCard, UnionPay, Neteller, and POLi Bank are all accepted.

• Bank Wire Transfer

• Transfer to a Local Bank

There are no extra costs at FXTrading.com.

Processing timeframes vary depending on the approach. Credit card and E-payment deposits are quick. Bank transfers take 1-2 business days to complete, while wire transactions take 2-5 business days.

Making a deposit is straightforward. Simply log in to the secure client site, choose your deposit method and amount, and click request.

Withdrawals to bank accounts typically take 2-3 business days. This is comparable to most bank transfer or refund processing timeframes, therefore FXTrading.com is competitive in this regard.

Account Demo

You may start trading with virtual money with a 30-day trial demo account. For individuals who are unsure about opening a genuine account, the practice account is a fantastic method to evaluate the broker's platforms, tools, customer service, and other features.

Bonuses

FXTrading.com has numerous promos available:

• New Trader Program - Redeem a cash incentive of up to 25% to compensate for your trading losses.

• Convertible Deposit Bonus - Get a 10% convertible deposit bonus on new deposits of up to $50,000.

• Welcome Trading Incentive - a 50% trading bonus of up to $250, plus a 10% trading bonus of up to $2,250.

• Interest rates of 3% - Earn 3% interest on your uninvested cash balance in your forex trading accounts.

Promotions cannot be combined, so choose the one that best meets your requirements. Each transaction has its own set of terms and restrictions.

Review of Regulations

FXTrading.com, under its parent firm Gleneagle Securities PTY Limited, became a registered broker with the Australian Securities and Investments Commission (ASIC) in 2019.

ASIC is a strict regulator, and those that comply with its requirements are regarded as safe and trustworthy trading venues.

Obligations include the following:

• Client money is kept separate.

• The bare minimum of employee and owner training

• Strict accounting and auditing standards

• Regular risk management audits

FXTrading.com is also regulated by the Vanuatu Financial Services Commission, which accepts traders from all around the globe.

Features Not Included

FXTrading.com maintains a blog that is routinely updated to bring you up to speed on the latest market occurrences. Aside from that, the materials available are quite restricted. This is a brokerage for people who wish to trade without making a fuss.

Accounts at FXTrading.com

FXTrading.com has three types of accounts: Standard, Alpha, and Pro.

• Spreads on all accounts are competitive, ranging from 1 pip variable with the Standard to raw spreads with the Pro and Alpha.

• On Pro and Alpha accounts, the commission is $3.0 or $3.5.

• The Standard has a minimum deposit of $200, the Pro has a deposit of $1000, and the Alpha has a deposit of $100,000.

• Depending on your trading approach, you'll want to consider whether you want narrower spreads or to avoid fees on each transaction.

• Account functionality, such as hedging authorization, MT4, and MT5 access, lot size, and so on, is largely comparable across all accounts.

Benefits

FXTrading.com is particularly good in the following areas:

• ASIC's regulatory structure provides excellent leverage.

• There is no dealing desk interference.

• Spreads of 0 pips

• Exemplification in a hurry

• Liquidity at Tier 1

• Blog, forex book and V.O.D library, interactive courses, market analysis, webinars, and Autochartist are all available.

Drawbacks

There are a few drawbacks to choosing FXTrading.com over other brokers:

• There is no negative balance protection.

• When compared to other brokers, we have fewer resources.

Trading Hours

The hours of operation at FXTrading.com vary based on the asset. From Sunday through Friday, the forex markets are open 24 hours a day. The trading hours of commodities and indexes vary somewhat, but most open at 1 a.m. and conclude at 11 p.m. Monday through Friday.

Customer Service

For foreign customers, contact FXTrading.com customer care at +61 (0) 2 8039 7366. During business hours (GMT+11), a live chat feature is also accessible.

You may also contact FXTrading.com at service@fxtrading.com.

Security

Because the company's website is HTTPS encrypted, your data is generally protected from hackers. Dual-factor authentication and secure login settings are also available on the MetaTrader 4 platform.

FXTrading.com Verdict

FXTrading.com is a fantastic broker if you want a no-frills firm that is ASIC-regulated and will give you all the fundamentals you need to start trading at a reasonable fee.

With the 2020 redesign, it's evident that the corporation wants to become worldwide. The substantial signup incentives make for a compelling proposal as well, although its lack of resources holds it back somewhat.

Countries Accepted

Traders from America (USA), Ontario Province within Canada, North Korea, Iran, Japan, and New Zealand are not permitted to use FXTRADING.com.

FXTrading.com substitutes

If you are seeking FXTrading.com alternatives, we have produced a list of the best 5 brokers that are comparable to FXTrading.com. This list of brokers similar to FXTrading.com is organized by similarity and contains only organizations that allow traders from your area.

• FP Markets — FP Markets is a multi-asset broker that offers many trading platforms.

• RoboForex — RoboForex is a multi-asset online broker that provides effective trading tools.

• FXPrimus - Trade the markets using MT4 trading tools while being regulated by CySEC.

• OctaFX — OctaFX provides multi-asset trading across many platforms and mobile solutions.

• Moneta Markets - Moneta Markets is a regulated FX and CFD broker with an online platform.

FAQS

Where is FXTrading.com governed？

The Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission both regulate FXTrading.com (VFSC).

Is there a demo account available at FXTrading.com？

Yes, FXTrading.com provides a free 30-day sample account on the MT4 platform.

How much money do I need to start trading with FXTrading.com？

The Standard account requires a minimum deposit of $200, while the Pro account requires a commitment of $1,000.

A $10,000 minimum deposit is required for the Alpha account.

Is it possible to trade cryptocurrencies on FXTrading.com？

CFDs on Bitcoin and Ethereum are available at FXTrading.com.

These are the three most popular cryptocurrencies on the retail trading market.

Is there a commission charged by FXTrading.com？

If you establish a Pro account, you will be charged a $3 per lot commission on transactions. Trades using a Standard account incur no commission.