FXTrading.com Review 2024
United States not accepted.Pros
- Excellent range of markets including 10,000+ stocks, 70+ forex pairs and cryptos
- Blog, forex books and V.O.D library, interactive courses, market analysis, webinars and Autochartist
- Supports popular MT4 trading platform backed up with proprietary analytical tools
Cons
- No negative balance protection
- Global branch has weak regulation
FXTrading.com Review
FXTrading.com is an online forex brokerage marketed towards those looking for the security of Australian Securities and Investments Commission (ASIC) regulation. This review explores the broker’s features, platforms and security to help you assess if it’s the right place to start trading.
FXTrading.com Headlines
FXTrading.com is located in Sydney, Australia. The company is owned by Gleneagle Securities Pty Ltd. Having opened its virtual doors in 2014 under the name RubixFX, the firm underwent a rebrand in 2020 to the premium domain ‘FXTrading.com’ in order to expand its global reach.
MetaTrader 4 Platform
FXTrading.com provides the coveted MetaTrader 4 (MT4) platform. MT4 is widely regarded as the best platform on the online retail trading market, with fast execution speeds and extensive functionality, including indicators, charting tools and trading signals.
All the platforms are available for download, including the desktop, web and mobile trading stations. Unfortunately, MetaTrader 5 is not currently an option.
FXTrading.com also provides the MetaQuotes Multi Account Manager (MAM) platform. This lets clients manage numerous accounts without opening an investment fund.
Plus, those looking for a more hands-off trading account can utilise the MetaQuotes Percentage Allocation Management Module (PAMM). The service enables ‘Master’ fund managers to trade on your behalf. You set the conditions and the fund manager trades within those limits.
Markets
FXTrading.com offers most online markets, including forex and crypto trading as well as CFDs on indices and commodities:
- Forex – 70+ forex pairs are available, including majors and an interesting mix of crosses and exotics
- Cryptocurrency – 17 crypto assets including Bitcoin and Ethereum
- Indices – 17 indices, including most big players from Europe, North America and Asia can also be traded; for example, the NASDAQ 100 and Dow Jones US 30
- Stocks – More than 10,000 share CFDs including blue-chip stocks from the US, UK and other major markets
- Metals & energies – Most commodities, such as gold, silver and oil, can also be traded
Spreads & Commission
Spreads at FXTrading.com are competitive. Raw spreads are variable on their Pro account starting at 0 pips. However, commission on these trades is $3.50AUD per lot.
On the Standard account, variable spreads start from 1 pip with no commission. For gold and silver, spreads are variable from 10 cents and 1 cent respectively. Other commodities start at 1 pip. Indices start at 0.5 pips.
Pro Account
Raw Spread
$3.5 per lot / per side Commission
Alpha Account
Raw Spreads
$3.0 per lot / per side Commission
Standard Account
Variable from 1 pip
No Commission
Leverage
Leverage is high compared to European regulated brokers and depends on the asset being traded. All account options offer leverage up to 1:500 for forex.
With that said, as of March 2021, ASIC is bringing in stricter caps to protect clients:
- 1:30 on major currency pairs
- 1:20 on minor currency pairs, gold or major stock market indices
- 1:10 on commodities (other than gold) or minor stock market indices
- 1:5 on shares or other assets
- 1:2 on crypto assets
Mobile Apps
The MT4 mobile app is available to download from Google Play or the Apple App Store.
The app makes it easy to switch between devices whilst maintaining trade functionality. To start trading, just sign up to a real or demo account via the FXTrading.com website. Once you’ve opened an account, details will follow about how to access the app.
Payments
FXTrading.com accounts can be created in the following base currencies AUD, USD, EUR, GBP, SGD, NZD, CAD.
Investors can choose from the following deposit methods:
- Paypal, WorldPay, Visa, MasterCard, UnionPay, Neteller, POLi
- Bank Wire Transfer
- Local Bank Transfer
FXTrading.com do not charge any additional fees.
Processing times vary between methods. Deposits are instant for credit cards and E-payments. Wire transfers take 2-5 business days to process and bank transfers take 1-2 business days.
Depositing is simple. Just log in to the secure client portal, select the deposit method and amount, and click request.
Withdrawals to bank accounts take around 2-3 working days. This isn’t much different from most bank transfer or refund processing times, so FXTrading.com is competitive here.
Demo Account
A 30-day trial demo account is available where you can start trading with virtual funds. For those undecided about registering for a real account, the practice account is an excellent way to test the broker’s platforms, tools, customer support and more.
Bonuses
There are a number of promotions on offer at FXTrading.com:
- New Trader Programme – Redeem up to 25% cash bonus to cover your trading losses.
- Convertible Deposit Bonus – Receive a 10% convertible deposit bonus on new deposits up to $50,000.
- Welcome Trading Bonus – 50% trading bonus up to $250, plus 10% trading bonus up to $2,250.
- 3% Interest rates – Receive 3% interest on your uninvested cash balance in your forex trading accounts.
Promotions can not be combined, so consider which is most beneficial to your needs. Terms and conditions are specific to each deal.
Regulation Reviews
FXTrading.com became a registered broker with the Australian Securities and Investments Commission (ASIC) in 2019 under its parent company Gleneagle Securities PTY Limited.
ASIC is a stringent regulator and those compliant with its obligations are considered safe and trustworthy places to trade.
Obligations include:
- Segregated client funds
- Minimum level of staff and owner training
- Strict accounting and auditing compliance
- Regular risk management audits
FXTrading.com is also licensed with the Vanuatu Financial Services Commission which covers traders from across the world.
Additional Features
FXTrading.com provides a regularly updated blog to keep you atop of the latest market events. Beyond this, the resources offered are fairly limited. This is a brokerage for those wanting to trade without the noise.
FXTrading.com Accounts
FXTrading.com offers three account options: Standard, Alpha and the Pro.
Spreads are competitive on all accounts, starting from 1 pip variable with the Standard to raw spreads with the Pro and Alpha.
Commission is payable on Pro and Alpha accounts, at $3.0 or $3.5.
Minimum deposits start at $200 on the Standard, $1000 on the Pro and $10000 on the Alpha.
Depending on your trading strategy, you’ll want to assess whether tighter spreads are what you’re after or if you’re looking to avoid commissions on each trade.
Account functionality is broadly similar across all accounts, including hedging permission, MT4 and MT5 access, lot size etc etc
Trading Hours
Opening hours at FXTrading.com are variable depending on the asset. Forex markets are open 24 hours from Sunday to Friday. There are slight differences in trading hours across commodities and indices, but most open around 1am and close at 11pm Monday to Friday.
Customer Support
Customer services at FXTrading.com can be contacted on +61 (0) 2 8039 7366 for international clients. There is also a live chat function available during working hours (GMT+11).
Alternatively, you can email FXTrading.com at service@fxtrading.com.
Security
The company’s website is HTTPS secure, meaning that your data is relatively safe from hackers. The MetaTrader 4 platform also offers dual factor authentication and secure login settings.
FXTrading.com Verdict
FXTrading.com is a good broker if you’re looking for a user-friendly company, regulated by ASIC that will provide you with all the basics required to get trading at a good price.
With its 2020 rebrand, it’s clear the company is keen to go global. The strong sign up bonuses also make for a good proposition, but its lack of resources let it down slightly.
Top 3 Alternatives to FXTrading.com
Compare FXTrading.com with the top 3 similar brokers that accept traders from your location.
- IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US 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.
- Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
- DNA Markets – DNA Markets is a forex and CFD broker established in 2020. The broker operates two entities in Australia and the offshore jurisdiction, St Vincent and the Grenadines. Traders can access 800+ markets, with a Standard account for beginners and a Raw account for experienced traders. The reliable MetaTrader 4 and MetaTrader 5 platforms are available, alongside Signal Start.
FXTrading.com Comparison Table
| FXTrading.com | IG | Interactive Brokers | DNA Markets | |
|---|---|---|---|---|
| Rating | 3 | 4.4 | 4.3 | 3.5 |
| Markets | Forex, CFDs, indices, shares, commodities, cryptocurrencies | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies | CFDs, Forex, Indices, Commodities, Stocks, Crypto |
| Demo Account | Yes | Yes | Yes | Yes |
| Minimum Deposit | $200 | $0 | $0 | $100 |
| Minimum Trade | 0.01 Lots | 0.01 Lots | $100 | 0.01 Lots |
| Regulators | ASIC, VFSC | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA | ASIC |
| Bonus | 50% Up to $250 plus 10% up to $2250 | – | – | – |
| Education | No | Yes | Yes | No |
| Platforms | MT4, AutoChartist | Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral | MT4, MT5 |
| Leverage | 1:500 | 1:30 (Retail), 1:250 (Pro) | 1:50 | 1:500 |
| Payment Methods | 9 | 6 | 6 | 10 |
| Visit | – | Visit | Visit | Visit |
| Review | – | IG Review |
Interactive Brokers Review |
DNA Markets Review |
Compare Trading Instruments
Compare the markets and instruments offered by FXTrading.com and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
| FXTrading.com | IG | Interactive Brokers | DNA Markets | |
|---|---|---|---|---|
| CFD | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes |
| Stocks | Yes | Yes | Yes | Yes |
| Commodities | Yes | Yes | Yes | Yes |
| Oil | No | Yes | No | Yes |
| Gold | Yes | Yes | Yes | Yes |
| Copper | No | Yes | No | Yes |
| Silver | Yes | Yes | No | Yes |
| Corn | No | No | No | No |
| Crypto | Yes | Yes | Yes | Yes |
| Futures | No | Yes | Yes | No |
| Options | No | Yes | Yes | No |
| ETFs | No | Yes | Yes | No |
| Bonds | No | Yes | Yes | No |
| Warrants | No | Yes | Yes | No |
| Spreadbetting | No | Yes | No | No |
| Volatility Index | No | Yes | No | Yes |
FXTrading.com vs Other Brokers
Compare FXTrading.com with any other broker by selecting the other broker below.
FAQ
Where is FXTrading.com regulated?
FXTrading.com is regulated with the Australian Securities and Investments Commission (ASIC) as well the Vanuatu Financial Services Commission (VFSC).
Does FXTrading.com offer a demo account?
Yes, FXTrading.com offers a 30-day free trial demo account on the MT4 platform.
How much capital do I need to trade with FXTrading.com?
The minimum deposit is $200 on the Standard account and $1,000 on the Pro account.
The Alpha account requires a minimum deposit of $10,000
Can I trade cryptos on FXTrading.com?
FXTrading.com offers CFDs on Bitcoin and Ethereum.
These are the three most widely traded cryptocurrencies available on the retail trading market.
Does FXTrading.com charge commission?
Commission of $3 per lot is charged on trades if you open a Pro account. There is no commission on trades with a Standard account.
Customer Reviews
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