FRXE is an online trading broker with its head office in Majuro, Marshall Islands. The broker gives traders access to trade various financial markets using multiple platforms, including the MT5 trading platform that is available in the desktop, web, and mobile versions. The broker also offers clients a variety of different trading account types to choose from.
FRXE Review, Pros & Cons
- Advanced trading platforms
- A good selection of educational resources
- A range of useful trading tools
- Wide variety of trading instruments
- Lack of regulation
- Located offshore
- Not the lowest spreads
- No contact telephone number
- No USA traders allowed
In this detailed FRXE review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
FRXE is an online financial services provider that makes it possible for traders to access several financial markets, including forex, precious metals, indices, and cryptocurrency, through the MetaTrader 5 (MT5) trading platform. The broker provides a vast array of educational resources and trading tools, while a knowledgeable customer service team is on hand to assist traders.
FRXE is owned by FRXE Trading Limited, which is registered in the Marshall Islands in accordance with Marshall Islands Business Corporation Act Business license no. 87985.
Traders from different parts of the globe can open live trading with the broker provided that their countries of residence permit online trading with international brokers.
Some FRXE features and products mentioned within this FRXE review may not be available to traders from certain countries because of legal restrictions.
FRXE provides traders with the advanced MetaTrader 5 trading platform. MT5 has an intuitive interface and is packed with a range of useful features, such as advanced charts and multiple timeframes, to ensure a hitch-free trading experience. It also supports automated trading using expert advisors. The broker provides the MetaTrader 5 trading platform as a desktop application for windows and Mac computers, a Web version that can run directly on most modern web browsers, and a mobile app that is developed for Android and iOS devices and can be freely downloaded from the respective app stores.
There is also the FRXE mobile trading app that gives the current market price of multiple asset classes and updates the quotes instantly without time lag. It can be downloaded from the Android app stores and used to place trades and check trading positions even while on the go.
FRXE Trading Tools
The broker provides traders with a range of useful trading tools that are required to ensure that traders make the best use of every trading opportunity. These include Economic Calendar, Technical Analysis, Forex Indicators, Forex Scripts, and Trading Signals.
There is a vast array of educational resources on the broker’s website, such as a trading blog, news, trading psychology, and a trading school that is designed for all levels of traders.
The broker offers the following tradable assets: forex, precious, metals, indices, and cryptocurrency.
FRXE Accounts & Fees
Traders are offered a choice of different trading account options, and they include Micro ($100), Standard ($2,000), and ECN ($25,000) Accounts. They have spreads starting from 0.4 pips and are denominated in USD. Swap-free Islamic accounts that comply with the sharia laws are available upon request.
As broker fees can vary and change, there may be additional fees that are not listed in this FRXE review. It is imperative to ensure that you check and understand all of the latest information before you open an FRXE broker account for online trading.
The broker’s client support team is on hand 24/7 to respond to clients’ inquiries via email, Live Chat, social media, or by filling the form on the broker’s website.
FRXE Deposit & Withdrawal
Traders can deposit and withdraw funds to and from their trading accounts using any of the following payment methods:
- Credit/Debit cards
- Electronic payment processors, such as Neteller and Skrill
- Cryptocurrencies (Bitcoin)
FRXE Account Opening
To open an account, click on the ‘Open Live Account’ button on the broker’s website and fill in the account application form providing all the required information.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.
Registered in the Marshall Islands, FRXE is an unregulated trading broker that strives to provide traders with all the needed resources for hitch-free access to various financial markets. There are multiple account options, whilst the least deposit requirement is $100.
There is a high level of risk in Margined Transaction products, such as, Foreign Exchange (FX), Bitcoins, Metals and Contracts for Difference (CFDs) trading which may not be suitable for all traders as the losses could exceed the total deposit at times; only use risk capital. Prior to trading any products offered by FRXE Trading LTD., please carefully consider your experience level and financial situation.