Templer FX Review 2023
United States not accepted.- DayTrading Review TeamTempler FX will appeal to traders looking for a cent account and very high leverage up to 1:2000. The $1 minimum deposit also makes it accessible for beginners.
Templer FX is an unregulated, offshore forex and CFD broker founded in 2004. The brokerage offers a small range of assets on the MetaTrader 4 or proprietary platform, with high leverage up to 1:2000 and micro-lot trading. As an ECN broker, the brand aims to provide ultra-low trading costs and fast execution, making it an attractive choice for active traders.
Trusted
Demo Account
MetaTrader 4
Bonus Offer
and 3 more
Forex Trading
Trade 30+ forex pairs with competitive spreads averaging 0.5 pips for EUR/USD. You can also access very high leverage up to 1:2000, though we urge caution when using unregulated brokers.
Stock Trading
Access a modest selection of 40 shares including big names like Apple and Microsoft. Trade stocks on any device with the broker's MT4 or Templer FX platforms, each with customizable charting packages.
CFD Trading
Templer FX offers a modest suite of CFDs compared to other brands, covering shares, commodities, indices and cryptos. The good news is that you can start with as little as $1 and there are no commissions.
Crypto Trading
Traders can access popular cryptocurrencies, though the selection is not as wide as competitors. There is also the broker's Bitcoin account, where you can start with as little as 0.000001 BTC.
✓ Pros
- ECN broker with competitive spreads from 0.1 pips, no commissions and fast execution
- A range of promotions on offer, including a loyalty bonus and no-deposit bonus
- Both trading platforms support Expert Advisors and custom indicators
- Responsive customer support team based on tests
- Decent range of fast and free deposit methods
- Low minimum deposit of $1
- Fast transaction times
✗ Cons
- Offshore and unregulated
- US, UK and EU clients not accepted
- Narrow range of assets compared to other brokers
- Unreasonable conditions for the 'segregated accounts' service
- Below average selection of education resources
- €50 fee for bank transfer withdrawals
With a focus on fast trade execution and high-quality customer service, Templer FX is an attractive choice for many traders around the world. Templer FX is principally a forex broker but also offers other assets with competitive spreads. This broker review explores the products offered by Templer FX, its mobile app, fees, plus deposit and withdrawal options.
Templer FX Headlines
Templer FX is a foreign exchange broker founded in 2004 and based in Kingstown, St. Vincent and the Grenadines. The owner of the company is Templer Holdings Management Limited. While Templer FX is a global broker that offers its services to residents of countries such as Uganda, Brazil and Kenya, the brokerage is not available for use in the US, UK or the EU.
The brand is an Electronic Communication Network (ECN) counterparty to clients trading the forex market. Being an ECN broker rather than a market maker means that the brokerage can offer lower spreads and faster trade execution, as it directly matches buyers with sellers. It is worth noting that being a counterparty means it can still take the opposite position in the market.
Importantly, Templer FX has a large number of major liquidity providers to ensure faster trade execution and more competitive spreads. Keep in mind that during periods of high volatility, there can still be differences between the quotes and the prices at which the orders are executed.
Trading Platforms
In addition to the market-leading MetaTrader 4 (MT4), the firm also has its own trading platform named Templer FX Trader. This terminal allows for effective technical analysis to be undertaken using indicators such as Bollinger Bands and the Money Flow Index (MFI).
At other brokers, traders can usually download MT4 for PC/Windows. However, the Templer FX website only advertises integration with the Android and iOS versions of MT4. MT5 is not available with Templer FX.
Below are some of the key features of each trading platform.
MetaTrader 4
- 30 technical indicators
- Pending market orders
- Available on your mobile or tablet (Android or iOS)
- Interactive charts (including bars, Japanese Candlesticks and lines)
- 7 time frames including 1-hour and 4-hour, which can be useful for forex day trading
Templer FX Trader
- Multiple time series
- Internal email system
- Automated trading systems
- Wide range of technical indicators
- Available on Windows, macOS, Blackberry, Linux or through your web browser
Products
Although the bulk of Templer FX’s platform is focused on the forex market, traders can also explore other markets:
- Shares CFDs – this group of assets includes over 40 major companies such as Amazon, Microsoft, Apple and American Express
- Forex – over 30 pairs including majors such as EUR/USD and GBP/USD
- Precious metals – gold and silver (against the US dollar)
- Cash indices – including the Nasdaq 100 and FTSE 100
- Cryptocurrencies – including BTC and ETH
- Energies – Brent and WTI crude oil
With CFDs, traders do not own the underlying equity. Instead, they simply speculate on the movement in price. Unfortunately, ETFs are not available with Templer FX, so traders should look at cash indices when seeking greater diversification.
Spreads & Commission
Templer FX is competitive when it comes to spreads. Spreads can be as low as 0.1 pips, although most traders should expect 0.5 pips for the EUR/USD pair. Low spreads make it easier for traders to profit from fluctuating exchange rates. Spreads for the GBP/USD pair begin from 0.8 pips. For spot indices, spreads typically start from 1 point.
The brokerage does not charge commissions, apart from with the Muslim FX account. The combination of low spreads and zero commission on most accounts means that Templer FX is good value for most traders.
Leverage
Being an offshore broker, Templer FX operates under loose regulation. Despite many brokers in Europe and elsewhere only being able to offer a maximum leverage of 1:30, the brand has a maximum leverage of 1:2000. This means some traders will be able to open positions with exposure 2000 times greater than their actual investment. But although this can magnify profits, it can also lead to large-scale losses.
Note that while 1:2000 is the maximum leverage, certain markets such as crypto will only have leverage of 1:10 on all account types. The leverage available to traders on Templer FX also decreases the more capital that you have in your account. For example, those that have more than $100,000 in their account only get a maximum leverage of 1:100.
Mobile App
Templer FX uses MT4 as one of its trading platforms. MT4 has an app available for download on both iOS and Android (APK) mobile/tablet devices. This means traders can open, monitor and close forex and CFD positions on the go. The company has also made MT4 available for Blackberry users.
Payment Methods
Deposits and withdrawals can be made once you log in to the TemplerFX Members Area. Once you have made a deposit, you can begin trading forex and other assets.
Deposits
Accepted deposit methods include:
- Wire Transfer
- Perfect Money
- Contact
- FasaPay
- Leader
- Skrill
- Visa
All deposits on Templer FX are processed instantly, except for wire transfers which take one hour. Although Visa deposits are free, some other deposit options come with a fee of 1% or 1.5%. Traders can also expect a fee with wire transfers. The minimum deposit amount varies, but for Visa deposits it is just $1.
Withdrawals
Traders may find that the minimum withdrawal amount is greater than the minimum deposit amount for the same payment method. For example, Visa withdrawals have a minimum withdrawal of $15. Withdrawal fees are also generally higher than deposit fees, with Visa withdrawals attracting a fee of 2% + $5.
Although some withdrawals made using payment providers such as Skrill or Perfect Money are processed instantly, others such as Visa and wire transfers can take 1-5 business days.
Demo Account
Templer FX offers a demo account to enable its customers to try out the broker’s services. Demo accounts are perfect for traders wishing to practise on a new trading platform without risking their own money. In addition, traders can download Templer’s FX Trader to use with the demo account, which makes for a more realistic investment experience.
Deals & Promotions
Since Templer FX is an offshore broker not subject to the same restrictions when it comes to promotions as many European brokers are, they offer a wide range of bonuses.
In the Loyalty Program, any deposits made after the initial deposit receive a 1% loyalty bonus for each trading year with the firm (up to 10% or 11.5% for bank transfers). Therefore the more deposits you make and the longer you are a customer, the more money you will receive.
In addition, there are various other bonus promotions where traders can receive up to 100% of their deposit amount. New customers are eligible for a no deposit welcome bonus of $30. Note that whether you’re investing in forex or another market, your trading volume must exceed 5 lots before you can withdraw the bonus or any profits.
Regulation
Templer FX is not strictly regulated and therefore less secure than other brokers. They are an offshore brokerage registered with the Financial Services Authority (FSA) of St. Vincent and the Grenadines. Offshore brokers usually come with additional risk for traders as they are not as stringently monitored.
Traders are also generally less protected should the company go bankrupt, or should the firm choose not to allow a withdrawal of funds to your bank account. Traders should be aware of these additional risks when comparing Templer FX with a broker regulated by the Financial Conduct Authority (FCA), for example.
Additional Features
Although there is an Education section on the Templer FX website, much of it is a glossary defining relevant trading terms. This is still useful for traders that frequently get confused by investing jargon.
Templer FX has also made a free pdf document/ebook available on their website that provides a full introduction to forex trading. They also provide a variety of online handbooks for free, such as “Finding The Right Hedge Fund.”
When it comes to trading features, Templer FX offers several types of advanced market orders to help clients manage risk and make more successful trades. These include a Buy Limit order where the position is opened at a specified price point, and a Sell Stop order.
Account Types
The main differences between the account types are in relation to the initial deposits and spreads offered.
Universal FX
- $25 initial deposit
- Spreads from 0.1
- Zero transaction fees
XBTC
- Deposit in Bitcoin
- 0.000001 BTC initial deposit
- Spreads from 0.1
- Zero transaction fees
Cent FX
- $1 initial deposit
- Spreads from 0.1
- Zero transaction fees
MAM
- $1,000 initial deposit
- Spreads from 0.1
- Zero transaction fees
Muslim FX
- Muslim/Islamic account
- $25 initial deposit
- Spreads from 1.0
- $5/lot transaction fee
Segregated Account
- €50,000 initial deposit
- Spreads from 0.1
- Zero transaction fees
Trading Hours
Trading hours vary depending on the market you trade. For example, the Gold/US Dollar market is open Monday-Friday 01:00-00:00 (EET). Although Templer FX has not confirmed its forex hours, the forex market in general is open 24 hours a day from Sunday evening until Friday night.
Customer Support
Templer FX’s customer support team is present 24/5 (Sunday 11pm GMT to Friday 9pm GMT.) In addition to live chat, there is also:
- Phone – +44 20 33557076
- Email – info@templerfx.com
- Website – www.templerfx.com
The customer service team is responsive. In a recent test scenario, a real-time query was responded to within 8 minutes.
Security
Client funds are stored in segregated accounts, which means that the deposits of each customer are kept separate from the funds of the company. If Templer FX were to go bankrupt, client funds would be protected, although only to a certain extent.
When customers sign up and register with Templer FX, they will be required to provide proof of identity and residence. This practice is known as “Know Your Customer (KYC)” and it is common across many brokers.
Templer FX Verdict
Templer FX has low spreads and zero commission on most account types, making it popular with traders looking to keep costs to a minimum. However, being an offshore broker not regulated by the likes of ESMA or the FCA comes with additional security risks for traders.
Accepted Countries
Templer FX accepts traders from Australia, Thailand, South Africa, Singapore, Hong Kong, India, Norway, United Arab Emirates, Saudi Arabia, Kuwait, Qatar and most other countries.
Traders can not use Templer FX from United States, United Kingdom, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Canada, Japan, Israel, Turkey.
Payment Methods
Templer FX Details
| Minimum Trade | 0.01 Lots |
|---|---|
| Regulated By | FSA |
| Account Types |
|
| Islamic Account | Yes |
| Mobile Apps | iOS, Android, Blackberry |
| Margin Trading | Yes |
| Volatility Index | No |
| Spot Trading | Yes |
| Perpetual Swaps | No |
| ELWs | No |
| REITs | No |
| AI / Machine Learning | No |
| Robo Advisor | No |
| P2P Trading | No |
| Negative Balance Protection | No |
| VPS Hosting | No |
| Tournaments | No |
| Demo Competitions | No |
| Managed Accounts | No |
| Market Maker | No |
| Auto Trading | Yes |
| Social Trading | No |
| Guaranteed Stop Loss | No |
| Stock Exchanges |
|
| Commodities |
|
CFD Trading Details
| FTSE Spread | 1.0 |
|---|---|
| GBPUSD Spread | 0.8 |
| Oil Spread | 2.0 |
| Stocks Spread | Variable |
| Leverage | 1:2000 |
Forex Trading Details
| GBPUSD Spread | 0.8 |
|---|---|
| EURUSD Spread | 0.5 |
| EURGBP Spread | 1.1 |
| Assets | 32 |
Cryptocurrency Trading Details
| Crypto Spread | Floating |
|---|---|
| Crypto Lending | No |
| Crypto Staking | No |
| Crypto Mining | No |
| Crypto Auto Market Maker | No |
| Crypto Coins |
|
Compare Templer FX
Compare Templer FX with similar brokers that accept traders from your location. Among available brokers these are the most similar to Templer FX:
-
IG Group – IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
Go to IG Group -
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 -
Just2Trade – Just2Trade is a reliable multi-regulated broker registered with FINRA, NFA and CySEC. The company has 155,000 clients from 130 countries and stands out for its huge suite of instruments and additional features, including a social network, robo advisors and a funded trader programme.
Go to Just2Trade
Templer FX Comparison Table
| Templer FX | IG Group | World Forex | Just2Trade | |
|---|---|---|---|---|
| Rating | 2 | 4.4 | 4 | 3.5 |
| Markets | Forex, CFDs, indices, shares, metals, energies, cryptocurrencies | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting | Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts | Stocks, ADRs, ETFs, Futures, Options, Commodities, Bonds |
| Demo Account | Yes | Yes | Yes | Yes |
| Minimum Deposit | $1 | $0 | $1 | $100 |
| Minimum Trade | 0.01 Lots | 0.01 Lots | 0.01 Lots | 0.01 Lots |
| Regulators | FSA | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA | SVGFSA | CySEC, NFA, FINRA, Bank of Russia |
| Bonus | $30 No Deposit Welcome Bonus | – | 100% Deposit Bonus | Up to $2,000 for professional accounts |
| Education | No | Yes | No | No |
| Platforms | MT4 | MT4, AutoChartist, TradingCentral | MT4, MT5 | MT4, MT5, TradingCentral |
| Leverage | 1:2000 | 1:30 (Retail), 1:250 (Pro) | 1:1000 | 1:20 |
| Payment Methods | 8 | 6 | 10 | 20 |
| Visit | – | Visit | Visit | Visit |
| Review | Templer FX Review |
IG Group Review |
World Forex Review |
Just2Trade Review |
Compare Trading Instruments
Compare the markets and instruments offered by Templer FX and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
| Templer FX | IG Group | World Forex | Just2Trade | |
|---|---|---|---|---|
| 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 | No | Yes | No | No |
| Silver | Yes | Yes | Yes | Yes |
| Corn | No | No | No | No |
| Crypto | Yes | Yes | Yes | Yes |
| Futures | No | Yes | No | Yes |
| Options | No | Yes | No | Yes |
| ETFs | No | Yes | No | Yes |
| Bonds | No | Yes | No | Yes |
| Warrants | No | Yes | No | No |
| Spreadbetting | No | Yes | No | No |
| Volatility Index | No | Yes | No | No |
Templer FX vs Other Brokers
Compare Templer FX with any other broker by selecting the other broker below.
FAQ
Is Templer FX Regulated?
Yes – Templer FX is regulated by the Financial Services Authority (FSA) of St. Vincent and the Grenadines. However, this regulator does not impose as stringent requirements on brokers as other regulators such as CySEC or the FCA.
Is Templer FX Safe And Legit?
Templer FX has existed since 2004, which means that it has a relatively long history for an online broker. It has also put precautions such as segregated accounts in place to protect client funds. However, being an offshore broker does mean less protection for traders.
Does Templer FX Have Cryptocurrencies?
Yes – Templer FX offers cryptocurrency trading pegged to the USD, for major cryptos such as BTC and ETH. As of 2022, it does not offer smaller cryptocurrencies such as Ripple (XRP).
How Do You Withdraw Money From Templer FX?
Traders wishing to make a withdrawal on TemplerFX need to navigate to “Finance-Withdrawals” in the dashboard menu, select live account login, and then enter the sum to withdraw and the method of withdrawal.
Where Can I Learn More About Forex Trading And Strategies?
Those wanting to explore sources external to Templer FX could start with websites such as Yahoo Finance or the Wall Street Journal. Online forums such as Reddit can provide a useful place for discussion. Certain YouTube channels are also a good way to learn new strategies. Some websites such as GitHub share various trading bots, built using a programming language such as Java, that can implement strategies automatically. Finally, see our comprehensive guide to forex trading in 2023 here.
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| Templer FX is an unregulated, offshore forex and CFD broker founded in 2004. The brokerage offers a small range of assets on the MetaTrader 4 or proprietary platform, with high leverage up to 1:2000 and micro-lot trading. As an ECN broker, the brand aims to provide ultra-low trading costs and fast execution, making it an attractive choice for active traders. | ||