StreamsFX Review and Tutorial 2021

Flag Traders in United States welcome
StreamsFX Facts & Figures

StreamsFX is a forex and CFD broker with MetaTrader 4 support and over 35 financial instruments available to trade on demo or live accounts.

InstrumentsCFD, Forex
Demo AccountYes
Min. Deposit$500
Payment MethodsCredit Card, Mastercard, Neteller, Skrill, Visa
Min. Trade0.01 lots
Regulated ByCySEC
MetaTrader 4Yes
MetaTrader 5No
cTraderNo
STP AccountYes
ECN AccountYes
DMA AccountNo
Mobile AppsiOS & Android
Margin TradingYes
Auto TradingNo
Social TradingNo
Copy TradingNo
Trade SignalsNo
Islamic AccountNo
Account
Currencies
USD, EUR
CFD
FTSE Spread1.21
GBPUSD Spread0.00021
Oil Spread0.035
Stocks Spread
Leverage1:30
Forex

StreamsFX offers CFDs on 28 major, minor and exotic currency pairs.

GBPUSD Spread0.00021
EURUSD Spread0.00016
EURGBP Spread0.00017
Assets28
Risk Warning – Your capital is at risk

StreamsFX is a CySEC regulated STP global forex broker offering the MT4 platform and 36 trading instruments. This review will detail spreads, commission and leverage, alongside exploring account types, minimum deposits and demo accounts. Read on to find out whether you should open a StreamsFX account today.

StreamsFX Headlines

StreamsFX is an international Forex and CFD broker based in Cyprus. The broker operates under Streams Financial Services Ltd. This company is authorised and regulated by CySEC (Cyprus Securities and Exchange Commission) and is a member of the Investor Compensation Fund (ICF). Streams is an STP broker with a fully automated no dealing desk (NDD) execution model.

Headquartered in Limassol, Cyprus, StreamsFX caters to clients from many countries across Europe. However, the broker has recently decided to revoke its services to UK residents through the temporary permissions regime (TPR) and is currently under the supervised run-off (SRO) regime within the Financial Conduct Authority (FCA) legislation.StreamsFX Fees And Security

Trading Platform

MetaTrader 4

StreamsFX only provides one trading platform – MetaTrader 4. MT4 is an industry-leading forex and CFD platform that provides numerous tools and features that are key to a trader’s performance. This includes interactive charts, analytical objects and technical indicators. Another advantage to trading with MT4 is the ability to customise your interface to suit your needs. It is currently used by millions of traders worldwide. The main benefits of MT4 are:

StreamFX’s MT4 platform is downloadable on MacOS, Windows PC, Android (APK) and iPhone (iOS).

Assets

StreamsFX offers 36+ trading instruments from the global markets that can be accessed from one trading account. The following are some of the assets available:

Spreads And Commission

StreamsFX offers floating, variable spreads from as low as 0 pips, though spreads & commissions vary across account types.

Note that market spreads can widen considerably during marketing opening and closing times and before key market announcements.

Leverage

As a CySEC regulated broker, StreamsFX must adhere to the leverage limits imposed by ESMA legislative rules. Therefore, all account types on StreamFX offer a maximum leverage of 1:30. Leverage allows you to trade much bigger volumes than you would normally be able to afford by borrowing some of a position’s stake from the broker.

Leverage trading can amplify profits as well as increase losses. However, to protect its customers from losing more money than their initial deposit, StreamsFX offers negative balance protection for all clients.

Mobile Apps

StreamsFX Mobile Trading App
MetaTrader 4 Mobile Platform

StreamsFX does not offer a proprietary mobile app for their trading platform. However, MetaTrader 4 offers a mobile app that is available for both Android and iPhone. The MT4 mobile app is free to download on the Apple App Store or Google Play Store. Once downloaded, you will simply need to log in with your StreamFX sign up credentials.

The MT4 mobile app provides an alternative solution to trading on a PC or desktop so that you can manage trades on the go. The app has also received thousands of positive customer reviews.

Deposit And Withdrawal Payment Methods

StreamsFX offers several options for funding and withdrawing from your account:

StreamsFX reserves the right to charge a company service fee of 2.75% on card deposits and 4% on e-wallets. Fees on wire transfers vary depending on the bank, though StreamsFX does not charge any fees. The broker does not charge any fees on withdrawals.

Members must submit a withdrawal request from their personal profile and send this from their registered and verified email address. The minimum withdrawal request for a wire transfer is EUR/USD 20. The StreamsFX website does not make deposit processing times clear. However, bank withdrawals normally take 3-7 working days, while credit/debit card withdrawals can take up to 8 working days.

Demo Account

Members with a verified StreamsFX account can access a demo account for free directly from the client area. Unfortunately, unverified members are not able to try out the StreamsFX platform.

StreamsFX enables you to open a demo and live account simultaneously by installing the MT4 platform in two separate folders on your computer. This allows you to test out your strategies risk-free and, once you are ready, implement these onto your live account. Additionally, you can modify the balance on your demo account by emailing the broker, including your demo account number and desired balance.

Deals And Promotions

Under CySEC regulation, StreamsFX is prohibited from offering any bonuses to retail traders. This is to protect users from brokers that incentivise retail clients to trade in complex speculative products.

Regulation And Licensing

StreamsFX is operated under Streams Financial Services Ltd., which is authorised and supervised by the Cyprus Securities and Exchange Commission (CySEC) under license number 376/19. This ensures that the broker is acting in the interests of the client’s protection. This comes in the form of limited leverage, negative balance protection and legal protection.

The company is also a member of the Investor Compensation Fund (ICF). This guarantees members the payment of compensation if StreamsFX is not able to pay its liabilities.

Additional Features

On top of the powerful MT4 platform, StreamsFX offers the following tools to build on your trading strategies.

Account Types

StreamsFX offers three account types with a straight-through processing (STP) and no dealing desk (NDD) trading model. All accounts have fast execution speeds as quick as 0.2 seconds, 50% stop out level and 100% margin call. Additionally, all accounts come with negative balance protection and the MT4 platform:

To open an account, you simply need to click on ‘register now’ on the broker’s website and provide your details, proof of identity and proof of address. Your account will be verified in as little time as 10 minutes.

Benefits Of StreamsFX

Drawbacks Of StreamsFX

Trading Hours

StreamsFX follows the standard trading hours for the forex, indices and commodities markets. While the broker does not detail specific trading sessions or market holidays, the forex markets can be traded 24/5 Monday through Friday. Trading hours can also be viewed on the MT4 platform.

StreamsFX forex and CFD trading
MetaTrader 4 Platform

Customer Support

StreamsFX customer service can be contacted through the following methods:

The broker also has a comprehensive FAQs section, where you can find out more about the MT4 platform, deposit and withdrawal methods and account information.

Security

As a CySEC regulated broker, we are confident that StreamsFX is a legitimate broker. The broker is subject to strict regulatory conditions that ensure a secure trading environment. It also provides compensation for all members and negative balance protection. Additionally, the MT4 platform is highly secure, which encrypts your login and account information.

StreamsFX Verdict

StreamsFX offers a secure, legitimate trading environment as a CySEC regulated broker. The company offers the powerful MT4 trading platform with competitive spreads and low costs across three account types that suit many types of traders. However, the broker offers a limited range of trading instruments with no educational tools and high minimum deposits, which may be a downside for some. Nonetheless, we are comfortable in recommending StreamsFX to suitable traders.

FAQs

Is StreamsFX Regulated?

Yes. StreamsFX is authorised by the Cyprus Securities and Exchange Commission (CySEC) under license number 376/19. CySEC is a robust and reputable financial watchdog.

Does StreamsFX Offer A Demo Account?

StreamsFX only offers a free demo account to verified members. Unfortunately, users wishing to try out the platform without an account are not able to do so. Verified members can modify their demo account balance and open both a demo account and a live trading account at the same time.

How Much Capital Do I Need To Trade With StreamsFX?

The minimum capital required to open an account on StreamsFX is USD/EUR 500 on the Classic and Pro account. The ECN account requires a USD/EUR 20,000 minimum deposit.

Can I Open A StreamsFX Trading Account In The UK?

Unfortunately, StreamsFX has revoked the offering of its services to UK residents through the TPR regime. The company is currently under the SRO regime, in line with FCA’s rules.

What Trading Platform Does StreamsFX Have?

StreamsFX offers the powerful and industry favourite MetaTrader 4 platform. This platform is best suited for forex and CFDs and has a user-friendly interface that traders of all skill levels can benefit from.

Accepted Countries

StreamsFX accepts traders from Australia, Thailand, Canada, United States, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use StreamsFX from United Kingdom.

Alternatives to StreamsFX

If you are looking for alternatives to StreamsFX we have compiled a list of the top 5 brokers that are similar to StreamsFX below. This list of brokers like StreamsFX is in order of similarity and only includes companies that accept traders from your location.

  1. eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
  2. LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
  3. 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.
  4. EagleFX – EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
  5. ZuluTrade – Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets
StreamsFX is a forex and CFD broker with MetaTrader 4 support and over 35 financial instruments available to trade on demo or live accounts.

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