FxPlayer ReviewCategory: Reviews | Author: Trading Brokers | Date: January 14, 2024
FxPlayer is a trading platform that offers access to a range of markets like forex, commodities, and indices. Launched in 2014, it provides traders with platforms like MT4, MT5, and its own FxPlayer Trader to trade on. One standout feature is that FxPlayer operates as an ECN/STP broker, which facilitates direct market access for potentially tighter spreads.
In this FxPlayer review, we’ll break down the key components like regulation status, account options, platforms & tools, educational resources, tradeable markets, funding methods, and more. The goal is to provide an unbiased assessment of what FxPlayer has to offer, including both the pros and cons, so you can determine if it’s a good fit for your trading needs. Let’s get started!
Pros & Cons
- Multiple account types cater to different levels of traders, from Micro to Institutional
- FxPlayer offers a variety of trading platforms, including MetaTrader 4 and MetaTrader 5
- A wide range of markets is available, including Forex pairs, commodities, and indices
- No dealing desk intervention, providing straight-through processing orders for better trade execution speeds
- Limited information on the website about the company's background and operational history
- FxPlayer is currently unregulated, posing a higher risk for traders
- Limited educational resources are available, primarily just a Support FAQ section
- No detailed information about the security measures in place to protect client funds
FxPlayer Ltd, which started in early 2014, is a true ECN/STP platform built by a group of traders. The platform is dedicated to providing investors with a highly transparent trading environment. It offers a variety of trading platforms, including FxPlayer Trader (BETA), MetaTrader 4, MetaTrader 5, UniTrader, Currenex, and ActTrader.
FxPlayer offers trading in a variety of markets, including major and minor currency pairs, global currency pairs, gold spot, silver spot, brass futures, USOIL futures, and UKOI futures. This gives traders a wide range of options to choose from based on their trading preferences and strategies.
To cater to different types of traders, FxPlayer offers six different types of accounts. These include Micro Accounts, Mini Accounts, Standard Accounts, Pro Accounts, Institutional Accounts, and Flex Accounts. The minimum deposit ranges from $50 for Micro Accounts to $100,000 for Institutional Accounts.
The platform offers leverage of 1:100 for Micro and mini accounts and 1:200 for Standard, Pro, Institutional, and Flex accounts. This allows traders to maximize their trading potential. All accounts come with floating spreads, with an average spread of 0.4 pips for EURUSD, 0.3 pips for USDJPY, and 0.5 pips for GBPUSD. Trading commissions range from $0.06 per micro lot for Micro accounts to $0.02 per micro lot for Institutional accounts.
FxPlayer also offers a variety of funding methods, including online payment, e-wallet, credit or debit card, bank wire transfer, and Bitcoin. This makes it easy for traders to fund their accounts and start trading.
So, you’re probably wondering about the regulation status of FxPlayer, right? Well, here’s the deal: FxPlayer isn’t currently regulated by any official financial authority. Yeah, you read that right. No regulation. This means there’s not any official body keeping an eye on their activities or making sure they’re playing by the rules. However, FxPlayer Ltd is governed by the laws of the Marshall Islands, as stated in their Terms and Conditions
Now, I’m not saying they’re definitely up to no good, but this does make things a bit risky. When a platform isn’t regulated, it’s kind of like the Wild West – anything goes. And if something does go wrong, there’s not much you can do about it.
So, if you’re thinking about investing your hard-earned cash with FxPlayer, you might want to think twice. It’s always a good idea to go with a regulated broker, just to be on the safe side.
And hey, don’t worry if you’re feeling a bit bummed out about this. There are plenty of other fish in the sea. Please see a list of regulated brokers for some alternative options. There’s bound to be a better fit for you out there.
Platforms & Tools
FxPlayer Ltd offers a variety of trading platforms and tools designed to cater to the needs of different types of traders. Here is an overview of the platforms and tools available:
- FxPlayer Trader (BETA): This is FxPlayer’s platform, still in beta. It’s designed by traders, for traders, so it’s got a lot of potential to be a game-changer. It’s always exciting to see what unique features these homegrown platforms can offer.
- MetaTrader 4 (MT4): MT4 is a classic in the world of trading platforms. It’s user-friendly and packed with features, making it a popular choice among traders. If you’ve been trading for a while, you’re probably already familiar with it.
- MetaTrader 5 (MT5): MT5 is like the upgraded version of MT4. It covers all trading activities and offers a comprehensive charting package, multilingual support, and integration with web services. It’s designed for self-traders and provides real-time trade operations and technical analysis. It also offers various execution technologies, a large number of technical indicators and line studies, and custom indicators and scripts.
- UniTrader: UniTrader is a new-generation trading platform designed as an easy and logical instrument for active traders looking for an edge. It’s built to be intuitive and user-friendly, making it a great choice for traders who want a straightforward trading experience.
- Currenex: Currenex is an all-inclusive FX trading software designed for professional traders. It offers sophisticated order management, allocation, and reporting tools, making it a comprehensive solution for serious traders.
- ActTrader: ActTrader is another platform offered by FxPlayer. While specific details about this platform are not provided, it’s part of the diverse range of platforms that FxPlayer offers to cater to different trading needs.
Their tools are;
- Economic Calendar: This tool keeps you updated with market-moving events. It’s like your personal assistant, reminding you of important dates and events that could impact your trades.
- Profit Calculator: This handy tool helps you calculate your potential profits based on your trading parameters. It’s a great way to plan your trades and manage your expectations.
- Margin Calculator: This tool helps you calculate the margin required to open and hold positions. It’s a must-have for managing your risk and ensuring you have enough margin to cover your trades.
- Pip Calculator: This tool helps you calculate the value of a pip in your base currency. It’s super useful for managing your trades and understanding your potential profit or loss.
- Currency Converter: This tool lets you convert between different currencies at the current exchange rate. It’s always handy to have a currency converter at your fingertips when you’re trading forex.
- Market Hours: This tool helps you track the opening and closing hours of different markets. It’s a great way to plan your trading day and make sure you’re trading at the right times.
When it comes to learning resources, FxPlayer keeps it simple. They have a Support FAQ section on their website. Now, I know what you’re thinking – “That’s it?” But hey, don’t underestimate the power of a good FAQ.
The FAQ section is like the unsung hero of a website. It’s where you’ll find answers to all those burning questions you’ve got about trading with FxPlayer. From account setup to trading basics, it’s all there. And the best part? It’s available 24/7, so you can get your learning on whenever you want.
So, if you’re the type of person who likes to learn at your own pace and you’re not afraid to do a little digging, the FAQ section could be a goldmine of information. Just pop in your question and boom – instant knowledge.
Remember, though, that while FAQs are great, they might not cover everything. If you’re new to trading, you might want to supplement your learning with some additional resources. But for quick answers to specific questions, the FxPlayer FAQ is a solid starting point.
Let’s dive into the exciting world of markets that FxPlayer offers. Whether you’re a currency enthusiast, a commodities connoisseur, or an indices aficionado, there’s something for everyone.
- Forex: First up, we’ve got the granddaddy of all markets – Forex. This is where you can trade major, minor, and exotic currency pairs. FxPlayer offers advanced Foreign Exchange (FX) trading conditions that can match the needs of novice and experienced traders alike. So whether you’re into the popular pairs like EUR/USD or you want to dabble in something a bit more exotic, FxPlayer has got you covered.
- Commodities: Next on the list, we have Commodities. This is where you can trade stuff like gold, oil, and other raw materials. The FxPlayer Trader platform offers investors the opportunity to trade Gold Spot and other commodities. It’s a different ball game from Forex, but it can be a lot of fun (and potentially profitable) if you know what you’re doing.
- Indices: Last but not least, we’ve got Indices. This is where you can trade on the performance of a group of stocks. FxPlayer gives you the opportunity to get exposure to the biggest indices of the world. Trade the USA, German, Japanese, Australian, Spanish, French, Italian, Swiss, and UK indices today. It’s a great way to get exposure to a whole sector or economy without having to buy individual stocks.
Let’s talk about the different account types that FxPlayer offers. They’ve got a pretty wide range, so whether you’re just dipping your toes into the trading waters or you’re a seasoned pro, there’s an account for you.
- Micro: The Micro account is perfect for beginners. With a minimum deposit of just $50, it’s a low-risk way to get started. The trading commission is $0.06 per micro lot, and the maximum volume is up to 10,000 units (1 mini lot). The max leverage is 1:100, and the margin call level and stop-out level are both at 50%.
- Mini: The Mini account steps it up a notch with a minimum deposit of $500 and a trading commission of $0.05 per micro lot. The maximum volume increases to 100,000 units (1 lot), and the max leverage stays at 1:100. The margin call level and stop-out level are both at 45%.
- Normal: The Normal account is for more experienced traders. It requires a minimum deposit of $5,000 and offers a trading commission of $0.04 per micro lot. The maximum volume is up to 1,000,000 units (10 lots), and the max leverage increases to 1:200. The margin call level and stop-out level are both at 40%.
- Pro: The Pro account is for the pros, as the name suggests. It requires a minimum deposit of $20,000 and offers a trading commission of $0.03 per micro lot. The maximum volume is up to 10,000,000 units (100 lots), and the maximum leverage is 1:200. The margin call level and stop-out level are both at 35%.
- Institutional: The Institutional account is for the big players. It requires a whopping minimum deposit of $100,000 and offers a trading commission of $0.02 per micro lot. The maximum volume is up to 100,000,000 units (100 lots), and the maximum leverage is 1:200. The margin call level and stop-out level are both at 30%.
- Flex: The Flex account is a bit of a wild card. It requires a minimum deposit of $10,000 and offers a trading commission of $0.035 per micro lot. The maximum volume is flexible (hence the name), and the maximum leverage is 1:200. The margin call level and stop-out level are both at 35%.
When it comes to putting money into your FxPlayer account, they’ve got a few different options to choose from. Here’s the rundown:
- American Express: For those who like to rack up points on their AmEx, you’re in luck. FxPlayer lets you fund your trading account using your American Express card.
- Bitcoin: If you’re all about that crypto life, you can use Bitcoin to get your account funded. It’s fast, it’s digital, and it’s pretty darn cool.
- MasterCard: Good old MasterCard is also on the list. It’s a straightforward way to fund your account, especially if you’re already using your MasterCard for everything else.
- PaySafeCard: This is a great option for those who prefer prepaid methods. PaySafeCard lets you fund your account without having to use a bank account or credit card.
- PayPal: Ah, PayPal, the OG of online payments. If you’ve got a PayPal account, you can easily transfer funds to your FxPlayer account.
- Visa: Last but not least, Visa is also accepted. Just like MasterCard, it’s a reliable and widely used funding method.
So, whether you’re into traditional credit cards, digital wallets, or cryptocurrencies, FxPlayer has got you covered. Just pick the method that works best for you and get trading.
In conclusion, FxPlayer offers a variety of features that cater to different types of traders. From a range of trading platforms and tools to diverse market offerings and account types, FxPlayer seems to have something for everyone. They also offer a variety of funding methods, making it easy for traders to get started.
However, it’s worth noting that while FxPlayer offers strong features, there are other brokers with longer track records that might be worth considering as alternative options. For additional choices, we encourage you to explore our trading brokers reviews.