StreamsFX Review 2024

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1.5 / 5
StreamsFX is #13 in our CFD broker rankings.

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

$500
MT4
CFDs, Forex, Commodities
-
USD, EUR
Credit Card, Visa, Mastercard, Skrill, Neteller, Maestro
Forex Trading

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

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.

Top 3 Alternatives to StreamsFX

Compare StreamsFX 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-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.
    Go to IG
  2. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage for experienced traders, 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.
    Go to Interactive Brokers
  3. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
    Go to World Forex

StreamsFX Comparison Table

Compare StreamsFX With Similar Brokers
StreamsFX IG Interactive Brokers World Forex
Rating 1.5 4.4 4.3 4
Markets CFDs, Forex, Commodities CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts
Demo Account Yes Yes Yes Yes
Minimum Deposit $500 $0 $0 $1
Minimum Trade 0.01 Lots 0.01 Lots $100 0.01 Lots
Regulators CySEC FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA FCA, SEC, FINRA, CBI, CIRO, SFC, MAS, MNB SVGFSA
Bonus 100% Deposit Bonus
Education No Yes Yes No
Platforms MT4 Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral Trader Workstation (TWS), Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral MT4, MT5
Leverage 1:30 1:30 (Retail), 1:250 (Pro) 1:50 1:1000
Payment Methods 6 6 6 10
Visit Visit Visit Visit Visit
Review IG
Review
Interactive Brokers
Review
World Forex
Review

Compare Trading Instruments

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

Compare StreamsFX Trading Instruments
StreamsFX IG Interactive Brokers World Forex
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks No Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil No Yes No Yes
Gold No Yes Yes Yes
Copper No Yes No No
Silver Yes Yes No Yes
Corn No No No No
Crypto No 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 No

StreamsFX vs Other Brokers

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