Fxview Review 2022
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Fxview is a European broker specializing in CFDs in forex, commodities and indices markets. This 2022 broker review will explore the trading platforms offered by Fxview and the tools that they provide. Read on for a guide to the pros and cons of opening an account, including regulatory and security considerations and details on customer eligibility.
The online brokerage was established in 2017. Fxview Europe is owned and operated by Charlgate Ltd, which has its registered office in Limassol, Cyprus. The broker is regulated by the Cyprus Securities and Exchange Commission (CySEC). Fxview Global (Charlgate SVG LLC) is registered in St. Vincent and the Grenadines.
In June 2021, the Finvasia Group acquired Fxview for an undisclosed sum. The broker’s suite of trading products and features hasn’t significantly changed following the move.
Like many online brokers, Fxview offers the renowned MetaTrader platforms: MT4 and MT5. The brokerage also offers a slightly less well-known option, ActTrader, as an alternative trading software. Web versions are available for each terminal for those that want to avoid a software download.
Key features of each trading platform includes:
- Available on the web, desktop, Mac, Android and iPhone
- Automated trading via EAs
- 4 pending order types
- 30 default indicators
- One-click trading
- 9 time frames
- News section
- Available on the web, desktop, Mac, Android and iPhone
- 6 pending order types
- 38 default indicators
- Economic calendar
- One-click trading
- 21 time frames
- News section
- Available on the web, desktop, Android and iPhone
- Risk management tools to conduct ‘what if’ analysis
- Visual strategy builder (for automated trading strategies)
- 4 pending order types
- 48 default indicators
- News section
- 11 time frames
Assets & Markets
Fxview specializes in CFD (Contract for Difference) trading. When purchasing a CFD, traders do not own the underlying asset. For example, when you purchase a CFD on gold, you don’t actually own the precious metal. The trader is simply speculating
on the price movement. The profit (or loss) is the difference in value between when the contract is purchased and when it is sold.
The following markets are available:
- 70 forex pairs (majors, minors and exotics)
- 8 commodities (precious metals and energies)
- 11 indices (including the D30EUR and NASUSD)
- 400+ stocks and shares (US, UK & European markets)
Spreads & Fees
Spreads start from 0 pips at Fxview. The best spreads are usually found in the most liquid markets, such as major forex pairs like the EUR/USD. Spreads in other markets such as commodities may be higher. For example, the XAU/USD market has a spread of 0.31. Low spreads mean that the market doesn’t have to move as far in the right direction before the trader begins to make a profit.
Raw spreads also mean that Fxview has to make its money through commission. The broker charges $1/$100k which is relatively low, but can affect high volume traders such as day traders and scalpers. Swap fees may also apply for those holding positions across more than one day.
Importantly, Fxview is an ECN (Electronic Communication Network) broker. This means it connects clients directly with other market participants without dealing desk intervention. This usually results in tighter spreads and faster trade executions.
Leverage means traders can open positions with a greater value than their actual investment. For example, leverage of 1:10 would mean a trader could get exposure of $1,000 with an investment of $100.
Like most European brokers, the maximum leverage on forex majors such as EUR/USD, EUR/GBP and GBP/USD, is 1:30. However, other markets must adhere to stricter leverage restrictions. For example, indices markets have a maximum leverage of 1:10.
Fxview has its own mobile app available on the App Store (Fxview Phone) and Google Play (Fxview Droid) that syncs with its desktop and browser-based trading platforms. The mobile terminal offers standard account management features, straightforward deposits and withdrawals, plus trade execution capabilities. Clients can also browse different assets and amend trade orders.
Note, Fxview clients can also download the MT4 and MT5 platforms to mobile devices.
The minimum deposit at Fxview is 5 EUR, although this depends on the deposit method. Some methods such as bank transfer and Visa/Mastercard have higher minimum deposits. Note that there is a difference between minimum deposit and the minimum trade size of 0.1 lots.
Fxview does not charge fees for deposits. However, traders should be aware of any third party fees that may apply, for example, from their bank. The deposit processing time is instant for Visa/Mastercard, Skrill and Neteller.
The full list of deposit methods and associated minimum payments is as follows:
- Visa & Mastercard (10 EUR/GBP/USD minimum deposit)
- Bank Transfer (200 EUR minimum deposit)
- Rapid Transfer (5 EUR minimum deposit)
- Skrill (10 EUR minimum deposit)
- Neteller (10 EUR minimum deposit)
- Klarna (5 EUR minimum deposit)
- Giropay (5 EUR minimum deposit)
- Przelewy24 (5 EUR minimum deposit)
- Nordea Solo (5 EUR minimum deposit)
Withdrawal options are limited:
- Bank transfer
The minimum withdrawal amount is 200 EUR for bank transfers, and 50 EUR for other methods. Fxview does not charge withdrawal fees and the processing time is 1 business day. Third party fees may still apply.
Note that deposits can only be withdrawn via the same payment method, but profits can be withdrawn by bank transfer, Skrill or Neteller.
Fxview offers a free demo account. This is particularly useful for beginners who want to get to grips with the trading platform, as well as more seasoned traders who want to test a new strategy that they have developed.
Clients can sign up for the paper trading account on the broker’s official website.
Deals & Promotions
There does not appear to be any current deals, promotions or a no deposit bonus offered by Fxview. This may be, in part, due to the tougher stance that CySEC has taken in recent years on promotions and broker bonuses.
Still, check the broker’s website when you register for an account in case of any new promotions. In the past Fxview has offered a deposit bonus scheme.
Regulation & Licensing
Fxview is regulated by the Cyprus Securities and Exchange Commission (CySEC) and is a member of the Investor Compensation Fund (ICF). This means eligible clients can claim up to 20,000 EUR if the firm is unable to meet its obligations.
Fxview is also regulated by other reputable regulators such as the UK Financial Conduct Authority (FCA) and the German Federal Supervisory Authority (BaFin). This makes the broker trustworthy compared to many offshore brokers.
Fxview has a helpful Market News section that is updated regularly. This allows traders to stay informed of the latest market developments. This is particularly important for those using fundamental analysis as part of their trading strategy.
In addition, Fxview’s video tutorial section is one of the best available. It explains multiple trading strategies, financial terms and different indicators. Additionally, the broker has free online webinars, although the content is not particularly recent.
Traders that struggle to identify sensible price levels to open a position may benefit from the Autochartist tool, which automatically scans markets and alerts traders to profitable opportunities.
Fxview also facilitates API trading, allowing traders to connect platforms to the live data and liquidity that the online broker offers. This can improve execution speeds and gives lower latency.
The RAW ECN account is Fxview’s main live trading account. It provides tight spreads with a reasonable commission.
Also available is the Fxview Zulu account that can connect with ZuluTrade, a firm with a good reputation for allowing retail traders to copy the trades of experienced investors.
Benefits Of Fxview
- Tight spreads
- VPS packages
- API trading
- Excellent customer support
- Negative balance protection
- Free VPS when depositing $5,000 or more
- Regulated by CySEC, the FCA and other reputable bodies
Drawbacks Of Fxview
- No ETFs or cryptos such as Bitcoin available
- Commission can reduce profitability for high volume traders
- Not available to residents in the UK, Canada or the US, or anyone outside the European Economic Area (EEA)
Trading hours vary depending on the market in question. Fxview’s server time is GMT+3 during US Daylight Saving Time (DST) and GMT+2 during US non-DST.
The forex market is open 00:05 Monday-24:00 Friday, with a daily break from 00:00-00:05. The hours of most of the commodities and indices markets are similar.
Fxview has a responsive customer support team, which will be a relief to many traders seeking reassurance that their broker will be on hand to deal with issues. Customer support at Fxview is available 24/5. We tested the live chat feature and received a response within seconds.
In addition to the live chat feature, the following customer support options are available:
- Online contact form
- Email (firstname.lastname@example.org)
- Phone (support numbers are +357 2526-2288 and +357 2526-2040)
In terms of social media, Fxview also has a presence on Facebook, Twitter, Instagram, LinkedIn and Reddit. In addition, the company has its own YouTube channel.
As is the case with most reputable brokers, Fxview uses segregated bank accounts to separate client money from company funds. In addition, user funds are spread across multiple financial institutions to reduce risk.
Two-factor authentication is an effective measure used by Fxview to strengthen security, as is 3D secure technology when processing card payments.
Although Fxview has a smaller range of assets vs brokers such as Pepperstone, it still has a decent offering of forex pairs. Its low spreads will also attract many traders, particularly day traders looking to keep costs low. The copy trading solution is another attractive feature that will appeal to beginners.
Fxview accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use Fxview from Cuba, Cyprus, India, Iran, Korea, Sudan, Syria, United States, Lebanon, Belarus, Afghanistan, Congo, Congo DR.
Alternatives to Fxview
If you are looking for alternatives to Fxview we have compiled a list of the top 5 brokers that are similar to Fxview below. This list of brokers like Fxview is in order of similarity and only includes companies that accept traders from your location.
- eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. eToro USA LLC does not offer CFDs, only real crypto assets available.
- LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
- Exinity – Exinity provides flexible low-cost trading in FX, commodities, indices and equities alongside unique education and support provided by teams located across the world. Now operating in the Middle East, through regulation from the Financial Services Regulatory Authority in Abu Dhabi and the Financial Services Commission of Mauritius, Exinity provides a range of services to traders and investors looking for new opportunities in the financial markets.
- EagleFX – EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
- Forex.com – Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.
Is Fxview Legit?
Yes, Fxview is a legitimate broker that is regulated by several reputable bodies, such as the CySEC and FCA. It has been operating since 2017.
Is Fxview A Market Maker?
No. Fxview is an ECN broker which means they match orders directly with liquidity providers rather than going through a dealing desk. This usually means lower spreads and faster trade execution.
Can I Choose Which Trading Platform To Use On Fxview?
Where Can I Find Customer Reviews Of Fxview?
Trustpilot is a good place to look at customer reviews of various brokers including Fxview. Discussion forums such as Reddit can also provide useful insight into customer experience.
How Quick Is The Sign-Up Process On Fxview?
New customers will need to provide their personal details, trading experience, as well as verifying their account with proof of identity and address. This can be completed in around five minutes. Once they are registered, traders will be able to login and start trading.
|Fxview is a CySEC-regulated ECN broker offering low spreads and leveraged CFDs.|
Fxview vs Other Brokers
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