AssetsFX ReviewCategory: Reviews | Author: Trading Brokers | Date: December 27, 2023
AssetsFX is an online broker established in 2013 and based in Saint Vincent and the Grenadines. The broker caters to traders of various skill levels, offering access to a diverse range of markets, including forex, cryptocurrencies, commodities, indices, and stocks. In this detailed review of AssetsFX, we aim to provide an objective assessment of this newcomer in the trading landscape.
We will delve into essential aspects, starting with regulation, followed by an exploration of platforms and tools, educational resources, available markets, account options, and funding methods. Our objective is to present a comprehensive view of AssetsFX, allowing you to make an informed decision based on an understanding of its offerings and how they align with your specific trading preferences.
Pros & Cons
- Has competitive spreads starting from 0 pips
- Allows trading in a variety of assets like forex, metals, indices
- Offers ECN/STP execution for fast trade execution
- Provides MT4 and MT5 trading platforms
- Supports automated trading through Expert Advisors
- Not regulated by any major financial authority
- Safety of client funds is unclear without regulation
- Limited payment options - no cards or e-wallets
AssetsFX is an online forex and CFD broker that was established in 2013 and is registered in Saint Vincent and the Grenadines. Operated by AssetsFX Global Ltd, the broker aims to provide access to a wide range of trading instruments across currencies, cryptocurrencies, commodities, stocks, and indices. Operating with the popular MetaTrader 5 (MT5) platform, the broker facilitates seamless access to currencies, cryptocurrencies, commodities, stocks, and indices. The MT5 platform boasts advanced features, including comprehensive charting tools, technical indicators, automated trading through EAs, and support for algorithmic trading, making it versatile and user-friendly for both novice and experienced traders.
Diversifying its asset classes, AssetsFX offers an extensive range of options, encompassing over 40 currency pairs, 30+ major cryptocurrencies, commodities such as gold and oil, and major global stock indices. This broad array ensures that traders interested in forex, crypto, or CFD trading on commodities and indices find ample opportunities within the platform. Regarding account types, AssetsFX caters to a range of traders. It introduces a Cent account tailored for beginners with a minimal $10 deposit requirement. Additionally, Standard and ECN accounts are available, providing higher leverage and tighter spreads to accommodate mainstream and high-volume traders, respectively. In terms of funding and withdrawals, AssetsFX exhibits flexibility by accepting both fiat currencies and cryptocurrencies. Clients can manage their accounts conveniently through multiple deposit and withdrawal options, enhancing the overall accessibility and convenience of the trading experience.
AssetsFX is operated by AssetsFX Global Ltd, a company incorporated in Saint Vincent and the Grenadines. AssetsFX Global Ltd is registered in Saint Vincent and the Grenadines as a Limited Company with registration number 26438BC. However, it’s important to note that AssetsFX does not appear to be regulated by any major financial regulatory bodies. Saint Vincent and the Grenadines is known to have relatively relaxed regulations for financial services companies. While an SVG incorporation provides a legal standing, it does not offer the same level of oversight and investor protections as brokers regulated by agencies like the UK’s Financial Conduct Authority (FCA) or Australia’s Australian Securities and Investments Commission (ASIC).
So potential clients should be aware that trading with AssetsFX likely carries more risk than dealing with a regulated broker. AssetsFX clients would not have access to an investor compensation fund or ombudsman service if issues arise. Without regulation, it is unclear whether AssetsFX uses segregated accounts to keep client funds separate from the company’s operating funds, which is a common practice among regulated brokers to protect clients’ money. However, If you’re looking for brokers regulated by stricter financial authorities, please see a list of regulated brokers for some alternative options.
Platforms & Tools
AssetsFX offers two main trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
- MetaTrader 4 (MT4): MT4 is a popular platform in the forex trading industry. It is known for its user-friendly interface, advanced charting capabilities, and a wide range of technical indicators. MT4 also supports the use of trading robots (Expert Advisors) for automated trading and advanced trading strategies. It offers 11 different types of minute charts, 7 different types of hourly charts, and daily, weekly, and yearly time frames. The platform is accessible on all devices, allowing traders to trade anytime.
- MetaTrader 5 (MT5): MT5 is a more advanced version of MT4, offering additional features and tools. It provides greater control over trade positions with its sophisticated order types, advanced charting tools, and execution options. MT5 supports 21-time frames for more comprehensive market analysis. Like MT4, it also supports automated trading systems and professional trading advisors. MT5 is known for its highly customizable charts, potent technical indicators, and automated trading features.
In addition to MT4 and MT5, AssetsFX also offers some trading tools that allows customers to enhance trading on their accounts. It is designed to be user-friendly and convenient, making it possible for traders to manage their trades from any device with internet access.
- VPS (Virtual Private Server): AssetsFX offers VPS hosting services to its clients. A VPS is a dedicated virtual server that allows traders to run their trading platforms and EAs 24/7 without the need for their personal computers to be constantly turned on.
- Automated Trading: AssetsFX supports automated trading through Expert Advisors (EAs) on both MT4 and MT5 platforms. EAs are automated trading systems that can execute trades based on predefined parameters, allowing traders to automate their trading strategies.
- Economic Calendar: AssetsFX provides an economic calendar that keeps traders updated on upcoming economic events and news releases that can impact the financial markets. This tool helps traders stay informed about potential market-moving events and make informed trading decisions.
AssetsFX offers a variety of educational resources to help traders improve their trading skills and knowledge. These include:
- Webinars: AssetsFX hosts webinars that cover a range of topics related to trading. These webinars are designed to provide traders with insights into market trends, trading strategies, and other relevant topics. They are typically led by experienced traders or market analysts.
- Video Tutorials: AssetsFX provides video tutorials that guide traders through various aspects of trading, from the basics of forex trading to more advanced topics. These tutorials can be particularly useful for beginners who are new to trading.
- Articles: AssetsFX publishes articles on a variety of trading-related topics. These articles can provide traders with in-depth knowledge on specific subjects, helping them to understand complex trading concepts and strategies.
- Daily Market Analysis: AssetsFX provides daily market analysis and trading prompts from experts. This can help traders stay updated on market trends and make informed trading decisions.
However, it’s worth noting that some reviews suggest that AssetsFX’s educational offerings may not be as comprehensive as those of some other brokers. Therefore, traders, especially beginners, may need to supplement these resources with additional learning materials from other source.
AssetsFX offers access to a diverse range of global financial markets for traders to invest in. Specifically, some of the key markets offered by AssetsFX include:
- Forex: This covers over 40 major, minor, and exotic currency pairs that traders can access as CFDs. Popular pairs like EUR/USD, GBP/USD, AUD/USD, USD/CAD, USD/JPY, etc. are available to suit different forex trading strategies.
- Cryptocurrencies: AssetsFX allows trading on over 30 top crypto coins and tokens including Bitcoin, Ethereum, Litecoin, Ripple, Dash, etc. These are accessible as crypto CFDs.
- Commodities: Traders can invest in commodity CFDs that track the prices of precious metals (Gold, Silver), energy commodities (Brent oil, natural gas), and more.
- Indices: Major stock market indices from global economies are offered, spanning S&P 500, NASDAQ 100, FTSE 100, Nikkei 225, ASX 200, etc. These can be traded as index CFDs.
AssetsFX offers a wide variety of account types to cater to different trading needs. Each account type comes with its own set of features and benefits, allowing traders to choose the one that best suits their trading style and goals.
- Cent Account: The Cent account is designed with beginner traders in mind. It only requires a minimum deposit of $10 to get started, making forex and CFDs trading more accessible. This basic account comes with a personal account manager and competitive spreads starting from just 0.8 pips. It’s a great way to dip your toes into the world of trading without a huge financial commitment.
- Standard Account: For more seasoned traders, AssetsFX provides the Standard account which requires a slightly higher $50 minimum deposit. The Standard account grants access to all 40+ currency pairs, 30+ crypto coins, commodities, global indices and other trading instruments available on the AssetsFX platforms. It also offers lower spreads starting from 0.6 pips.
- ECN Account: The ECN account is AssetsFX’s offering for high volume traders looking for direct market access. While it requires a $50 deposit like the Standard Account, the ECN account provides raw spreads from top tier liquidity providers. These super tight spreads start from 0 pips, along with a commission of $5.95 per lot. This account is ideal for traders who trade frequently and in large volumes.
- ECN Pro Account: The minimum deposit for this account type is $1000 with a minimum trading volume of 0.01. It offers a swap-free account. The spread starts from 0 pips and there is a commission of $2 per lot per side. The leverage is up to 1:500. This account type supports MT4, MT5, and web trading platforms.
AssetsFX offers multiple convenient funding options for clients to deposit and withdraw from their trading accounts. For deposits, AssetsFX accepts fiat currency payments through processors like Perfect Money and Local-Cash. This allows clients to easily fund their accounts using traditional payment methods. Additionally, AssetsFX also enables direct crypto deposits from digital wallets. Support for cryptocurrencies like Bitcoin, Ethereum, Ripple and Litecoin gives traders flexibility to fund accounts directly from their crypto holdings.
The minimum deposit amount to open an account starts from just $10 for the Cent account designed for beginners. For the Standard and ECN accounts tailored for mainstream and high volume traders respectively, the minimum deposit is $50. Presumably withdrawals can be processed back to the same payment channels used for deposits. But clients should always verify available withdrawal methods with their account manager before funding accounts.
In conclusion, AssetsFX provides access to a wide variety of trading instruments across currencies, cryptocurrencies, commodities, stocks, and indices through the feature-rich MetaTrader 5 platform. Multiple account options are available to suit different trader requirements as well. There are other more established brokers with longer industry track records that may be worth considering as alternatives. For traders interested in evaluating other regulated and trusted brokers beyond AssetsFX, we encourage exploring our comprehensive trading broker reviews.