FXTRADING.com Review 2020
FXTRADING.com is a regulated Australian based forex and CFD brokerage firm that aims to provide traders with faster and easier access to the financial markets. It offers online trading of forex, commodities and indices. The trading brokers review team did not find this broker to have the lowest spread whilst there were limited trading instruments and a lack of educational resources.
FXTRADING.com Review 2020, Pros & Cons
- Regulated broker
- Access to popular MT4 trading platform
- No deposit & withdrawal fees
- MAMM/PAMM accounts are available
- Demo accounts expire after 30 days
- Limited trading instruments
- Lack of educational resources
- No market news & analysis
- Spreads not the lowest
- No US clients allowed
In this detailed FXTRADING.com review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
FXTRADING.com is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including FXTRADING.com.
FXTRADING.com Review: Summary
FXTRADING.com was set up in 2009 as Rubix FX but rebranded to FXTRADING.com in February 2020. It is owned by an Australian company, Gleneagles Securities Pty Limited.
In line with its objectives of providing traders with quick and easy access to the markets, FXTRADING.com offers competitive trading conditions including reliable trade execution speeds. This is as a result of its status as an ECN broker and partnerships with top liquidity providers (LP’s).
FXTRADING.com gives its clients access to trade on the MetaTrader 4 platform which is one of the most popular forex trading platforms that is used by millions of traders across the globe.
FXTRADING.com Review: Regulation
FXTRADING.com is regulated by the Australian Securities and Investments Commission (ASIC). It has the license number AFSL 337985.
FXTRADING.com is also regulated by the Vanuatu Financial services Commission (VFSC). It operates with the license number 40256.
ASIC regulations mandate that brokers under them must have a minimum operational capital of Australian dollars 1,000,000, submit to external auditing and provide their clients with negative balance protection.
According to the broker, the safety of customers’ deposits is a priority at FXTRADING.com. These deposits are kept in a separate trust account with a top tier 1 bank in Australia so that broker should not use these funds for its own internal operations.
FXTRADING.com Review: Countries
Clients from United States, Iran, Vanuatu and North Korea are not accepted on FXTRADING.com. Some FXTRADING.com broker features and products mentioned within this FXTRADING.com review may not be available to traders from specific countries due to legal restrictions.
If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.
FXTRADING.com Review: Trading Platforms
MetaTrader 4 Desktop Trading Platform
FXTRADING.com offers clients the opportunity to use the widely accepted trading platform, MetaTrader 4. The platform is replete with tools for trading and market analysis. Thousands of additional trading tools have already been built for MT4 and more are still in development.
The charting package consists of bar, line and candlestick charts that can be displayed on 9 timeframes ranging from one minute to one month. MT4 comes preloaded with 30 technical indicators and 24 analytical tools. Multiple order types can be used to place orders including 4 pending order types and risk management tools such as stop loss and take profit. At all times, live trades can be monitored, order history is also available. It supports the automation of trading through Expert Advisors (EAs) and also supports one-click trading. There is a strategy tester to test EAs over historical data.
The FXTRADING.com MT4 desktop version is downloadable for Windows and MAC OS computers. The MT4 WebTrader is accessible via a link from the FXTRADING.com website. WebTrader runs on web browsers and does not require any downloads or installations.
MT4 Mobile Trading Platform
The mobile version of the MT4 trading platform can be downloaded on Android and iOS devices. It supports trading on the go and integrates accounts created on the desktop versions. It displays the live quotes of all the tradable assets including their charts in real time. From the mobile app, clients can analyze the charts in up to 9 timeframe and also using 30 inbuilt technical indicators as well as drawing tools. Multiple order types, pending orders and risk and order management tools are all available on the mobile trading apps.
MetaTrader 4 Multi-Terminal
FXTRADING.com offers this terminal to fund managers or traders with multiple accounts. All the popular features of the MetaTrader 4 platform are available but its major difference is the ability to handle different accounts at the same time.
Order volumes are easily distributed among several accounts with the MetaTrader 4 Multi-Terminal ensuring that each account has the right pre-defined parameters. This terminal requires a minimum of three accounts with a total deposit of at least $10,000.
FXTRADING.com Review: Trading Tools
Multi Account Manager (MAM)
The Multi Account Manager (MAM) software allows fund managers and institutional traders to manage multiple accounts on FXTRADING.com. MAM helps traders execute trades of multiple accounts on the MetaTrader Multi-Terminal at the same time based on pre-defined allocation settings. Using MAM allows a trader to optimize use of the Multi-Terminal platform as it comes with more advanced analytical tools and allocation parameters.
There is no limit on the number of accounts that can be managed and traded with MAM. Trading robots can also be used to trade managed accounts. A minimum of 3 client accounts with a total of $5,000 is required by FXTRADING.com to make use of this tool. There is a user fee of 0.1 pips per trade.
Percentage Allocation Management Module (PAMM)
FX Trading’s PAMM system allows clients invest their funds with other traders and fund managers on the broker. The software provides data analysis of various fund managers on the program. Clients can check their performance and use the listed criteria to choose their fund manager. They can also follow the performance of their funds using the PAMM analytical tools. Funds can also be invested with multiple fund managers. It should be strongly emphasised that there are no guarantees on the performance of managed accounts and you should have a clear understanding of all the significant risks involved with trading online.
Prime API FX & CFDs
This service allows clients let FXTRADING.com automate their trades. With this tool, clients do not have to be at their terminals or devices most of the time. This tool allows FXTRADING.com provide a customized trading robot that will handle clients’ trades according to laid down settings which can be adjusted when necessary.
FXTRADING.com Review: Education
FXTRADING.com does not offer any educational resources on its website.
FXTRADING.com Review: Trading Instruments
FXTRADING.com offers 45 currency pairs, 4 commodities and 10 indices on its platform. This is a limited selection of trading instruments compared to many other trading brokers we have reviewed that offer thousands of tradeable assets.
FXTRADING.com Review: Trading Accounts & Fees
FXTRADING.com offers a maximum leverage of 1:400. The minimum lot tradable is 0.01 lots while a maximum of 100 lots can be traded on the platform.
There are two live accounts available with this broker and they are as follows:
FXTRADING.com requires a minimum deposit of $200 or its equivalent in the other base currencies to activate this account. The minimum spread on this account is 1 pip while no trading commission is charged.
This account needs at least $1,000 or its equivalent in the other base currencies to be opened. The minimum spread is 0 pips while the commission charged is $3.50 per lot.
Demo accounts are available so that you can practice trading online using virtual funds. These are however restricted to just 30 days.
FXTRADING.com Review: Customer Service
Anyone who needs to make enquiries about any aspect of FXTRADING’s services can contact the client support desk on phone, email, live web chat and Facebook messenger. They respond to inquiries in both English and Chinese and are available 24 hours daily on weekdays.
FXTRADING.com has an office in Sydney, Australia where you can physically meet service client support staff and make your queries known. You can as well send a paper mail to their address. The broker is also on the following social media channels; Facebook, Twitter, YouTube and Instagram.
FXTRADING.com Review: Deposit & Withdrawal
Bank Wire Transfer
Clients who do not reside in Australia can deposit and withdraw funds through international bank wire transfers. The minimum deposit with this method is $200 or its equivalent while a minimum of 50 Euros or its equivalent is required for withdrawals. The processing of funds takes 2-5 business days and AUD 15 transfer fee is charged.
Local Bank Transfer
Australian residents can make use of local banks to fund and withdraw from their accounts. The minimum deposit is AUD 200 and the processing time for deposits is 1-2 business days. The minimum withdrawal amount is AU$50 and the processing time is 2-5 days. There are no extra fees for local bank transfer.
FXTRADING.com allows the use of Visa and MasterCard for payment. Minimum deposit and withdrawal is $5 or its equivalent in Euros, pounds or Australian dollars. Payments are processed within a day. There are no extra fees.
Electronic payment options include Skrill and Neteller for both deposits and withdrawals, POLi internet banking solution is available for deposits. Minimum deposits and withdrawals is $5 or its equivalent. Payments are processed within a day.
As broker fees can vary and change, there may be additional fees that are not listed in this FXTRADING.com review. It is imperative to ensure that you check and understand all of the latest information before you open an FXTRADING.com broker account for online trading.
Colmex Pro: Account Opening
To start trading online with FXTRADING.com, click on the ‘Open Account’ tab on the brokers website. You will have to fill in a short form which unlocks a more detailed application form.
Afterwards you will be taken to a page where you have the legal documents and then to the verification page where you have to upload details of your personal identity and proof of residence. Once this is completed you can start trading online with FXTRADING.com.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
FXTRADING.com Review: Conclusion
The regulation of FXTRADING.com can provide peace of mind for the majority of potential clients. Traders’ funds should be held in segregated accounts. The brokers status as an ECN broker can help ensure reliable trade execution speeds and competitive trading conditions.
The broker also offers the MT4 trading platform which can be used by traders of all experience levels and various trading styles. The MAM/PAMM system allows fund management whilst there is a selection of convenient payment options.
Despite the positives, FXTRADING.com has some limitations which include the lack of educational resources on its website. There are no market news, analysis or market insights which can be important to traders.
The fact that the demo account can only be used for 30 days creates a problem for traders who require more time to hone their practical skills or test their EAs. The number of trading instruments is also another limitation as there are competing brokers who offer thousands of tradable assets.
Investing in over-the-counter derivatives carries significant risks and is not suitable for all investors. You could lose substantially more than your initial investment. When acquiring derivative products, you have no entitlement, right or obligation to the underlying financial asset.