Flag FX

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

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.

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.

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.

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.