FxPlayer Review 2024


1.5 / 5
FxPlayer is #108 in our CFD broker rankings.

FxPlayer could suit beginners looking for a welcome bonus and access to popular financial markets with micro-lot trading.

- Daytrading Review Team

Founded in 2014, FxPlayer is a forex and CFD broker registered offshore in the Marshall Islands. This brokerage offers a very small selection of forex, commodities and indices on a range of accounts starting from $50. As an NDD broker, clients are promised tight ECN pricing, tier 1 liquidity and fast execution.

$50
MT4, MT5, ActTrader
CFDs, Forex, Stocks, Futures, Commodities
100% - 500% Deposit Bonus
USD
Visa, Mastercard, Debit Card, Credit Card, Bitcoin Payments, PayPal, Paysafecard, Wire Transfer, American Express

Forex Trading

FxPlayer offers an average suite of 38 forex pairs with competitive minimum spreads from 0.3 pips, in line with other brokers. The popular MT4 forex trading platform is also available.

Stock Trading

Trade on major indices in the USA, German, Japanese, Australian, Spanish, French, Italian, Swiss and UK markets. On the negative side, fees are higher than many alternatives.

CFD Trading

Access CFDs across indices and commodities with leverage up to 1:200. We liked the good choice of platforms, however, the lack of additional trading features is disappointing.

✓ Pros

  • Several trading platforms to choose from, including MT4, Currenex and ActTrader
  • The broker provides a strong selection of deposit bonuses for new users
  • Clients can fund accounts using popular payment options, plus Bitcoin
  • A range of account types with micro-lot trading available
  • Competitive ECN spreads from 0.3 pips on major currency pairs
  • Copy trading available in the broker's proprietary terminal
  • Low minimum deposit of just $50

✗ Cons

  • Beginners do not have access to helpful training materials or platform tutorials
  • Very poor customer support with no email, telephone or live chat
  • Registered offshore with weak regulation and trust score
  • No shares or cryptos available
  • No mobile app

FxPlayer Ltd was founded in 2014 and operates as an ECN/STP platform dealing in forex, commodities and indices. The broker is based in the Marshall Islands and is unregulated. Our FxPlayer review delves into the key features of the brokerage such as its fee structure, demo account, trading platforms, and payment options. Find out if becoming an FxPlayer trader is the next step in your investing career.

About FxPlayer

FxPlayer offers a wide selection of trading platforms to meet the needs of beginners through to veteran investors. The brokerage uses tier-one bank pricing with competitive spreads and low commissions. Traders benefit from a transparent pricing model with no dealing desk intervention.

While not regulated by a trusted financial agency, FxPlayer segregates client funds and offers secure deposits and withdrawals, including Bitcoin payments. In addition, new users can get started with welcome bonuses and can take part in trading competitions with cash prizes.

Assets & Markets

FxPlayer offers access to three asset classes:

Cryptocurrency trading is not available.

Trading Platforms

FxPlayer offers access to six trading platforms:

FxPlayer Trader

The broker’s own bespoke trading platform is currently in the beta stage. It boasts the following features:

FxPlayer broker reviews
Trader

UniTrader

UniTrader is a simplistic and straightforward platform that is designed to improve the ease of trading forex and other assets. Key features include:

FxPlayer price quotes
UniTrader

MetaTrader 4

FxPlayer provides access to MT4 which is an industry-leading terminal that is primarily used for forex trading. Key components of the platform include:

Why does FxPlayer keeps crashing?
MetaTrader 4

MetaTrader 5

The MT5 platform is best suited to advanced traders. Key benefits of the platform include:

FxPlayer platform ratings
MetaTrader 5

Other Platforms

FxPlayer also offers the ActTrader and Currenex platforms. Both platforms offer efficient order execution and advanced functionality aimed at experienced traders. The terminals can be downloaded from the broker’s website after account registration is complete

FxPlayer MOD APK download
ActTrader

Note, some online reviews have highlighted technical glitches when executing trades. Make sure you save orders if trying to queue trades.

Mobile App

Nowadays, having access to the financial markets on a mobile device is key. Therefore, we were disappointed to see that FxPlayer doesn’t provide a trading app that clients can download.

But while there is no FxPlayer app for Android (APK or MOD APK) or Apple, traders can still access the broker’s website via the internet app on their mobile device. Despite this, the best way for users to trade will be via PC, using Windows 10 or similar desktop software.

Fees

The broker’s variable spreads are in line with the top low-cost trading brokers. Average spreads on the EUR/USD, USD/JPY and GBP/USD are 0.4, 0.3 and 0.5 pips, respectively.

Commission-based costs vary depending on the account type:

FxPlayer offers no information regarding deposit fees, however they state that withdrawals are likely to incur a cost, dependent on third-party overheads. This is a red flag – it may be expensive to withdraw profits.

Leverage

FxPlayer gives investors the option to leverage their positions. Traders with the Micro and Mini accounts can access leverage up to 1:100 whereas all other accounts offer rates up to 1:200. Margin allows traders to increase position sizes by borrowing funds, however the risks of losses are also multiplied.

The brokerage doesn’t offer negative balance protection.

Live Trading Accounts

FxPlayer offers six different types of trading accounts with increasing minimum deposits. All accounts offer the same spreads and allow payments online, via e-wallet, Bitcoin or by credit and debit cards. As well as varying minimum starting deposits, the maximum position size and leverage differ between accounts:

Demo Account

FxPlayer also offers a free practice account. The demo account provides customers with $10,000 in virtual funds and simulates real-market conditions. This is a good opportunity to try the broker’s services before investing cash. Users can also test different strategies and get familiar with the firm’s in-house trading platform.

Note, some assets may not be available in the demo trading environment and margin requirements vary.

Bonuses

FxPlayer offers comprehensive welcome bonuses depending on the size of the deposit:

On the downside, the firm’s sign-up bonuses can only be used for forex trading. They are not eligible for commodities and indices.

FxPlayer also provides special holiday bonuses between 28 December and 01 January each year, as well as leap year offers.

Deposits & Withdrawals

FxPlayer offers a range of deposit and withdrawal methods:

Withdrawing funds from your FxPlayer account is straightforward. Traders simply need to login and request a withdrawal from the cashier portal. The information provided in the request form will be reviewed by the broker and processed no later than the next business day.  Withdrawal fees will apply depending on the third-party costs incurred by the broker.

Additional Features

FxPlayer offers additional features to entice prospective traders:

FxPlayer education
Live TV Channels

Unfortunately, the broker doesn’t offer a strong selection of educational resources, such as online classes, webinars or a dedicated YouTube channel. As a result, beginners may prefer to trade with another provider.

Regulation

FxPlayer is not registered with a reputable financial body such as the UK Financial Conduct Authority (FCA). The broker is based in the Marshall Islands and by law is not required to be regulated. Still, investors should be cautious when trading with brokers who are ungoverned and unregulated, and therefore do not have to follow measures designed to protect retail traders.

With that said, the firm does segregate client funds from its own capital, offering a degree of protection should FxPlayer go bankrupt.

Security

FxPlayer claims to have invested in high-tech encryption technology that reduces the risk of sensitive information being intercepted and mistreated. However, limited details are provided on the security systems used. It is also unclear how any transaction information, login verification data, or identity documents such as passports, are protected.

Trading Hours

FxPlayer provides trading and customer support from 10:00 PM Sunday to 10:00 PM GMT on Friday. Asset trading hours vary in line with the opening hours of the respective exchange. Head to the broker’s website for a breakdown.

Customer Service

FxPlayer offers two main routes for customers to get in touch:

The level of customer support is considerably lower than competitors. The best platforms offer live chat, telephone helplines, plus assistance via social media. The FxPlayer FAQ portal is also limited.

FxPlayer Verdict

FxPlayer has some positive qualities that will be attractive to new day traders, from multiple platforms and payment methods to a range of welcome deposit bonuses. However, the list of tradable assets is short and the absence of a reliable support team or dedicated mobile app may deter investors. The broker is also unregulated.

See our list of alternative brokers to start trading today.

FAQs

Is FxPlayer A Regulated Broker?

No. The broker is registered in the Marshall Islands where there is limited regulatory oversight. This is a real drawback versus the top-rated trading brokers that are licensed by recognized financial bodies.

Is FxPlayer A Good Broker?

FxPlayer offers a good range of deposit and withdrawal options, plus generous welcome bonuses. However, the limited customer support, narrow range of trading products, plus scarce regulatory oversight are concerns. As a result, we would recommend trading with an alternative provider.

Is FxPlayer A Legitimate A Broker?

FxBroker is a legitimate trading firm, however the broker has received negative reviews online and doesn’t offer the same regulatory protections afforded by big trading brands. See our list of alternatives to find the right brokerage for your needs.

Are There Restrictions With FxPlayer’s Welcome Bonuses?

Yes. Bonus funds can only be used to trade forex – promotional capital cannot be applied to commodity and index positions. Also check withdrawal terms and conditions before signing up.

Does FxPlayer Offer A Demo Account?

Yes. FxPlayer allows users to practice trading with $10,000 in virtual funds. The paper trading account can be opened from the broker’s main site.

Top 3 Alternatives to FxPlayer

Compare FxPlayer with the top 3 similar brokers that accept traders from your location.

  1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
    Go to IG
  2. AvaTrade – AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.
    Go to AvaTrade
  3. Swissquote – Swissquote is a Switzerland-based bank and broker that offers online trading and investing. The company has a high safety score and is listed on the Swiss stock exchange. The firm offers a huge range of products, from stocks, ETFs, bonds and futures to 400+ forex and CFD assets. Hundreds of thousands of traders have opened an account with the multi-regulated brokerage. Clients can get started in three easy steps while 24/7 customer support is available to assist new users.
    Go to Swissquote

FxPlayer Comparison Table

Compare FxPlayer With Similar Brokers
FxPlayer IG AvaTrade Swissquote
Rating 1.5 4.4 4.9 4
Markets CFDs, Forex, Stocks, Futures, Commodities CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures Forex, CFDs, Indices, Stocks, ETFs, Bonds, Options, Futures, Cryptos (location dependent)
Demo Account Yes Yes Yes Yes
Minimum Deposit $50 $0 $1000
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Regulators FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM FCA, FINMA, DFSA, SFC
Bonus 100% – 500% Deposit Bonus
Education No Yes Yes No
Platforms MT4, MT5, ActTrader Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade MT4, MT5, AutoChartist, TradingCentral
Leverage 1:200 1:30 (Retail), 1:250 (Pro) 1:30 (Retail) 1:400 (Pro) 1:30
Payment Methods 9 6 13 5
Visit Visit Visit Visit Visit
Review IG
Review
AvaTrade
Review
Swissquote
Review

Compare Trading Instruments

Compare the markets and instruments offered by FxPlayer and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare FxPlayer Trading Instruments
FxPlayer IG AvaTrade Swissquote
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes Yes Yes
Gold Yes Yes Yes Yes
Copper Yes Yes Yes No
Silver Yes Yes Yes Yes
Corn No No Yes No
Crypto No Yes Yes Yes
Futures Yes Yes Yes Yes
Options No Yes Yes Yes
ETFs No Yes Yes Yes
Bonds No Yes Yes Yes
Warrants No Yes No No
Spreadbetting No Yes Yes No
Volatility Index No Yes Yes No

FxPlayer vs Other Brokers

Compare FxPlayer with any other broker by selecting the other broker below.

 

Customer Reviews

There are no customer reviews of FxPlayer yet, will you be the first to help fellow traders decide if they should trade with FxPlayer or not?

Submit Your Own Review of FxPlayer

If you have experience trading with FxPlayer please share your personal review of the broker and what you think are strong and weak points. Thank you.

Visit
Founded in 2014, FxPlayer is a forex and CFD broker registered offshore in the Marshall Islands. This brokerage offers a very small selection of forex, commodities and indices on a range of accounts starting from $50. As an NDD broker, clients are promised tight ECN pricing, tier 1 liquidity and fast execution.