BigFx-Overview of Minimum Deposit, Spreads & Leverage

General Information

BigFx is allegedly an Estonian forex broker that provides its clients with a web-based trading platform, leverage up to 1:300, fixed spreads on diverse tradable assets, as well as a choice of five different account types.

Market Instruments

BigFx advertises that it offers an extensive range of trading instruments in financial markets, including forex currency pairs and CFDs on indices, commodities, precious metals, stocks, cryptocurrencies, ETFs and bonds.

Account Types

There are five live trading accounts offered by BigFx, namely Elementary, Standard, Investor A, Trader VS and Premium A+. Opening an Elementary account requires the minimum initial deposit amount of $500, while the other four account types with the much higher minimum initial capital requirements of $2,500, $5,000, $10,000 and $50,000 respectively.

Leverage

Traders holding different account types can experience quite different maximum leverage ratios. Clients on the Elementary or Standard account can experience the leverage of 1:100, the Investor A account with the leverage of 1:150, the Trader VS account with the leverage of up to 1:200, while the Premium A+ account can enjoy the maximum leverage as high as 1:300. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads

As we tested on BigFxs web-based trading platform, we found the spread for EUR/USD pair is fixed at 3.5 pips. Other more detailed information about spreads is not involved directly on its official website.

Trading Platform Available

When it comes to trading platforms available, instead of the worlds most widely-used MetaTrader4 and MetaTrader5 platforms, BigFx gives traders a web-based platform. The interface of this web-based trading platform is just as the following screenshot shows. It looks simple and clear, yet it seems to lack many functionalities while MT4 and MT5 trading platforms are equipped with, such as technical analysis indicators, Expert Advisors for automated trading and others.

Deposit & Withdrawal

BigFx accepts deposits via credit cards, wire transfers, e-wallets, and cryptocurrencies. The minimum initial deposit amount is said to be $250. In the FAQ, the broker states “BigFX imposes a tariff of 10% of the withdrawal sum requested if a total margin of more than 200 is not satisfied”. Besides, it will charge some other withdrawal fees. For instance, a Wire Transfer fee is $/£/€50, credit card fee is $25. Other more detailed information can be seen in the following screenshot.

Customer Support

BigFx‘s customer support can be reached through telephone: 3726026545, email: support@bigfx.net. However, this broker doesn’t disclose other more direct contact information like company address while most brokers offer.