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Libertex Review 2022

For this Libertex review, we have opened a standard account with the broker and deposited over €5,000.

We traded the popular instrument in each market to get the real spreads and commissions, and placed a total of 15 trades.

We also reached out to customer support to solve the issues we faced.

Finally, we withdrew our funds to see if there are any issues with the withdrawal process.

What is Libertex?

Libertex is a Cyprus-headquartered forex and contracts for difference (CFDs) broker brand. It was established in 1997.

The broker operates globally with its license from Cyprus, South Africa, and Belarus. Its offerings include forex, indices, commodities, cryptocurrencies, and stocks CFDs.

Some of the highlights of Libertex are:

🗺️ Authorised & Regulated inCyprus, South Africa, Belarus
🛡️ Is Libertex safeYes
💰 EUR/USD SpreadZero Spread
💳 Minimum deposit€100 or $10
💰 Withdrawal feeDepends on the withdrawal method
🖥️ Trading PlatformMT4, Libertex platform
📈 Markets offeredForex, Indices, Stocks, Commodities, Cryptocurrencies
📉 Number of Products271 (depends on the jurisdiction)

Licenses and Regulations

Libertex holds licenses 3 regulatory licenses.

The broker is regulated in Cyprus, South Africa, Belarus. Being operational for more than two decades, the broker also has a good reputation in the market.

The full list of Libertex licenses is below:

Legal entityRegistered inRegulatorLicense numberAccepting clients fromCompensation scheme amount
Indication Investments LtdCyprusCyprus Securities and Exchange Commission (CySEC)164/12European Union€20,000
Libertex (pty) ltdSouth AfricaFinancial Sector Conduct Authority (FSCA)47381South AfricaNo compensation scheme
LLC Financial Company Forex ClubBelarusNational Bank of the Republic of Belarus (NBRB)192580558BelarusNo compensation scheme
Libertex International Company LimitedSt.Vincent & the GrenadinesNANAGlobalNA

Libertex International Company Limited is accepting non-EU clients, but the broker told us that it does not need any license from local regulators for operations.

Libertex CySEC (Cyprus Securities and Exchange Commission) Registration
Libertex CySEC License

Is Libertex Safe

Yes, Libertex is a safe broker for trading.

The broker is well-regulated with a total of 3 licenses. The clients under CySEC also receive a compensation scheme of €20,000 for the protection of their funds.

For our tests, we opened a Libertex Account with Indication Investments Ltd, which is regulated by Cyprus Securities and Exchange Commission (CySEC) in Cyprus.

Fees and Commissions

Libertex generally charges trading fees, but there are some spreads for some instruments as well.

Spread Charged in Our Trades

For our tests, we have chosen popular instruments in each market. We placed 3 trades for each instrument to get a picture of the average trading fees.

Our test is based on the Libertex account. The broker only charged commissions on our traders with zero spreads.

Details of our trades are shown below the table.

MarketsInstruments1st trade margin adjusted commission1st trade trading commission2nd trade margin adjusted commission2nd trade trading commission3rd trade margin adjustment commission3rd trade trading commission
ForexEUR/USD€6€0€6€0€6€0
IndicesFTSE 100€4.66€3€2.33€1.50€2.33€1.50
StocksApple€1.93€1.50€1.93€1.50€1.93€1.50
CommoditiesGold€3€0.66€3€0.66€3€0.77
CryptocurrencyBitcoin€5.52€1.50€5.59€1.50€2.26€0.60
MarketsInstrumentsMultiplierVolume
ForexEUR/USD30€2,000
IndicesFTSE 10020€1000 for 1st trade, €500 for 2nd and 3rd trade
StocksApple5€500
CommoditiesGold20€1,000
CryptocurrencyBitcoin2€500 for 1st trade and 2nd trade €200 for 3rd trade

Other Fees

Libertex does not charge any deposit fees (only with one exception). The broker, however, charges withdrawal fees for most of the methods.

Libertex also collects a $5 monthly inactivity fee from the accounts without any trading activity for 180 days, holding a balance of less than $10,000.

Account Types

Libertex offers three types of accounts: Libertex account, MetaTrader 4 account, and MetaTrader 5 account (available only to customers outside the EU).

Details of all account types under Indication Investments Ltd (for EU clients):

Libertex AccountMT4 Account
Trading PlatformsLibertex PlatformMetaTrader 4
Account CurrencyUSD, EUR, GBP, PLN, CHFUSD, EUR, GBP, PLN, CHF
Minimum deposit€100€100
CommissionFrom 0.03%From €0.04
Order executionMarket ExecutionMarket Execution
SpreadFrom 0From 0

Details of all account types under Libertex International Company Limited (for global clients):

Libertex AccountMT4 AccountMT5 Account (Market)MT5 Account (Instant)
Trading PlatformsLibertex PlatformMetaTrader 4MetaTrader 5MetaTrader 5
Account CurrencyUSDUSDUSDUSD
Minimum deposit$10$10$10$10
CommissionFrom 0%From $0.06From $0.07From $0
Order executionMarket ExecutionMarket ExecutionMarket ExecutionInstant Execution
SpreadFrom 0.00003From 0From 0From 0.6

Libertex Login

Our overall experience of opening a new account with Libertex was smooth and fast.

We opened a Libertex Account for our tests under the Cyprus-regulated entity.

The process of registration of a new Libertex account:

  1. Enter email and password in the initial registration form.
  2. Go to profile management and verify email and fill in details like name, date of birth, country, city, and passport.

Traders need to provide additional details and summit verification details during the first deposit.

We have to provide the following details while making the first deposit:

  1. Enter details on the level of education, employment status, annual income level, source of wealth, and anticipated yearly investment.
  2. Answers a few questions on trading experience and knowledge.
  3. Enter residential address and nationality.

We submitted the following documents to verify our Libertex account:

  1. Copy of national identification (both front and back)
  2. Copy of our bank statement

The registration process took around 5 minutesOur account was verified in 2 working days.

Our account was registered on April 2, 2022, and approved on April 6, 2022.

Our overall account opening experience was smooth and without any issues from registration to verification.

Libertex Account Opening
Libertex Account Opening

Deposit and Withdrawal

Deposits on Libertex are easy and fast, but we faced additional and tiresome scrutiny while making withdrawals.

The broker does not charge any fees for most of the deposit and withdrawal methods but there are some exceptions.

Deposit and withdrawals fee details on Indication Investments Ltd:

MethodDeposit FeeWithdrawal Fee
Bank transferNone0.5% (Min €2, max €10)
Credit/ debit cardNone€1
Skrill1.9%None
NetellerNone1%

Deposit and withdrawals fee details on Libertex International Company Limited:

MethodDeposit FeeWithdrawal Fee
Bank transferNone$29
Credit/ debit card2.5% (Min $0.5)NA
Skrill1.9% (Min $0.5)1% (Min $0.5)
Neteller4%NA

Libertex did not charge any fee on our Skrill deposit

Minimum Deposit

The minimum deposit on Libertex depends on the entity under which the account is opened.

  • Indication Investments Ltd: €100
  • Libertex International Company Limited: $10.

Traders only need to invest a minimum of $10 on every investment on Libertex International Company Limited.

Deposit

Libertex supports deposits with bank transferscredit and debit cards, and popular e-wallets like Neteller and Skrill. The broker also accepts funds through other regional payment platforms like Sofort (Germany, Spain, Italy, Austria), Ideal (Netherlands), GiroPay (Germany), and a few more.

The broker mostly does not charge any fees for deposits for EU clients but charges heavy fees for non-EU clients.

The deposit methods also depend on the account jurisdiction.

We tested the deposit process on Libertex using a credit card, Neteller, Skrill, and PayPal.

Details of our fund deposits are shown in the below table.

Payment MethodSubmitted DateFunded Account DateFunding TimeFee
Credit card2022-04-082022-04-08Instant0
Skrill2022-04-082022-04-08Instant0
Neteller2022-04-082022-04-08Instant0
PayPal2022-04-082022-04-08Instant0

Libertex mentions on its website that there is a 1.9% deposit fee on Skrill, but the broker did not charge us anything on our Skrill deposit.

After depositing €5,000, we received a notice from Libertex saying that we became a VIP client and will receive a Libertex platform trading commission discount of 30%, along with Premium support.

Libertex Deposit Methods
Libertex Deposit Page

Withdrawal

Libertex allows withdrawals with bank transfers, credit and debit cards, and online wallets like Neteller and Skrill.

Though the Libertex website mentions that there are withdrawal fees for most of the deposit methods, it did not charge any fee for most of our withdrawals.

Overall, our experience with the Libertex withdrawal process was not smooth.

Details of our withdrawal requests are in the table below.

Payment MethodSubmitted DateFund Released DateFund Arrived DateWithdrawal TimeFee
Credit card2022-04-09NANANANA
Credit card2022-04-14NANANANA
Neteller2022-04-122022-04-142022-04-142 working day1%
Skrill2022-04-122022-04-142022-04-142 working day0
PayPal2022-04-082022-04-142022-04-144 working day0
Skrill2022-04-152022-04-152022-04-15Instant0

Our experience with Libertex withdrawal was not smooth with quite a bit back and forth.

After submitting the withdrawal request, Libertex requested proof of identity (selfie with ID and image of front/backside of credit card) from us. Additionally, the requirements state that the selfie with ID must be a color photo clearly showing the trader’s face, the trader’s entire arm holding the ID, and all the information from the front side of the ID.

We provided a clear photo selfie with ID but Libertex said our ID was not clear enough and we needed to take another photo to make it more visible. Finally, we received the withdrawal fund on April 14.

We submitted twice withdrawal requests with a credit card twice, but both failed. Libertex said it was due to our bank issue and we had to withdraw the rest of the fund using Skrill at last.

Libertex Markets and Products

Libertex offers CFDs trading services with forex, indices, stocks, commodities, and cryptocurrencies instruments.

The complete list of Libertex offerings are:

MarketsInstruments
Forex51
Indices21
Stocks and ETFs129
Commodities18
Cryptocurrency52

The markets and the number of offered instruments will depend on the account jurisdiction.

Trading Conditions

Trading conditions on Libertex are decent. The broker allows hedging and scalping strategies but traders cannot change leverage levels.

Though scalping is allowed, traders cannot open more than 1 position within a minute.

Trading MethodAllowed
HedgingYes
ScalpingYes (Traders cannot open more than 1 position in a minute)
Change LeverageNo

Leverage

Leverages offered by the various entities of Libertex are detailed below:

MarketsIndication Investments LtdLLC Financial Company Forex ClubLibertex International Company Limited
Major Currency Pairs30:1100:1999:1
Non-Major Currency Pairs20:1100:1200:1
Gold20:1100:1300:1
Other Commodities (except Gold)10:1100:1200:1
Indices20:1100:1500:1
Stocks5:15:120:1
Cryptocurrencies2:15:1200:1

Trading Platform

Libertex offers trading services on its proprietary Libertex platform and industry-standard MetaTrader 4 and MetaTrader 5 (only for non-EU clients) platforms.

Libertex Trading Platform
Libertex Trading Platform

We executed all our trades on the Libertex trading platform.

Bonus

Libertex International Company Limited offers a 100% welcome bonus to all new traders. The minimum deposit amount to receive the Welcome Bonus is $100. The maximum bonus amount is $10,000.

Libertex Bonus
Libertex Bonus

Research and Tools

Libertex offers decent market research and analysis tools.

Tools offered by the broker include:

  • Good charting tools
  • Economic calendar
  • Signals
  • Trading automation
  • Newsfeed
Libertex Trading Tools
Libertex News and Signals

Education

Libertex offers poor educational resources.

The broker’s educational materials only include:

  • Some guides on trading
  • Webinars
  • Demo account
Libertex Educational Material
Libertex Educational Resources

Customer Service

Libertex has decent customer support.

Traders can contact the broker via:

  • Live chat 
  • email
  • Phone

The support staff is available only on weekdays.

Our experience with Libertex customer support was mixed.

The support staff on both live chat and email was quick enough with the response, but could not provide answers to all our queries.

QuestionResponse TimeQuality of reply
Live ChatAsked about minimum deposit and withdrawal fees1 minuteClear and accurate
EmailAsked about the offered leverage under Belarus license1 minuteCould not provide any answer
EmailAsked about account currencies1 working dayClear and direct

Libertex Forex Club

Libertex Customer Support
Libertex Customer Support

The broker also has a detailed FAQ section for frequently faced issues.

Conclusion

Our overall experience with Libertex was decent.

The broker offers fast execution without any spreads. It charges a commission on trades, which is higher than the industry average. The broker charged a 0.3% margin adjustment fee on all instruments.

Account opening and deposits were smooth and fast, but withdrawals on the broker were frustrating. We had to provide identity proof and selfies with harsh requirements for withdrawals.

Our experience with customer support was mixed as some of the responses were fast, clear, and detailed, while they could not answer one. We recommend traders to contact the broker via Live chat.

On the positive side, Libertex allows traders to run hedging and scalping, but they cannot change leverage levels.

We recommend Libertex to traders who are taking long-term positions.

We recommend Libertex for traders who are

  • Experienced traders
  • Swing traders
  • Trading currency pairs
  • Using Metatrader
  • EA trader
  • Day trader
  • Commission based Trading

Libertex might not be a fit if you are

  • Beginners in trading

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Best Forex Brokers Greece 2022

To come up with this list, we have tested forex brokers Greece.

We opened a real account and deposited between $4,000 and $6,000 with each broker. Afterwards, we placed trades in each popular market to get the actual picture. 

We also reached out to customer support to solve issues that we had encountered. To check the withdrawal process we withdrew our funds.

We handpicked the best forex brokers Greece based on our trading data and experience as a trader.

Is Forex Trading Greece legal?

Forex brokers in Greece are subject to rigorous regulation by the Hellenic Capital Market Commission (HCMC), which is responsible for regulating both securities markets and over-the-counter products. The Hellenic Capital Market Commission is a legal entity established by Law 1969/91 and organized in compliance with 2324. It aims to ensure protection, orderliness, or efficiency within the capital markets it regulates. The HCMC is a Member of the European Securities and Markets Authority (ESMA) and operates within its framework and under its authority.

The Hellenic Capital Market Commission’s website is www.hcmc.gr.

Being a part of the EU, Greek Forex traders have access to a variety of financial markets through the European Union. In addition, Greek brokers offer services for both domestic and international clients under MiFID rules. Most European forex brokers are available for Greek clients and they are considered trustworthy and safe.

During the last years, Greece faced an economic crisis. However, the country has been able to overcome the difficulties and the market is stable at present.

🏦RegulatorHellenic Capital Market Commission (HCMC)
🛡️Is It safe to tradeYes
🔒Negative Balance ProtectionYes
💰Compensation SchemeYes

Best Forex Brokers in Greece

When Greece residents first start Forex trading, finding a reliable broker is, perhaps, one of the most important decisions to make. When choosing a broker, there are a number of important aspects to pay attention to. Most importantly, traders should pick a strictly regulated broker. This is of utmost importance, as the market is full of scams nowadays. Thus a regulated broker will save the traders from a lot of headaches and financial loss.

In Greece, due to local regulation, there are many reliable local brokers. There are also brokers that accept traders from Greece. As the country is a EU member all the European brokers accept Greek traders due to ESMA regulations.

We recommend signing only with reliable firms so that the safety of your money is never compromised. Also, before signing with a broker, traders should verify if the accounts are supported by necessary payment methods. Another important aspect to consider is customer support. Check whether the customer support team provides services in Greece.

To select the best forex brokers Greece, we have tested and reviewed various brokers. For our tests, we opened a live account, deposited real money, and placed real trades with each broker.

Based on our tests, we recommend trading with the following brokers that we have selected as the best forex brokers Greece:

  • Capital.com
  • FP Markets
  • AvaTrade
  • Plus500

Overall Best Forex Brokers for Greece

We picked FP Markets as the overall best forex broker Greece. 

The broker offers a wide range of trading instruments with forex, stocks, indices, commodities, and cryptocurrencies. FP Markets stands out for its forex ECN pricing. FP Markets holds licenses in multiple jurisdictions: the United Kingdom, Australia, Cyprus, Saint Vincent, and the Grenadines.

The broker’s spreads are lower than the industry average, especially for forex and indices. Spreads on stocks, commodities, and cryptocurrencies, are mostly on the average benchmark. 

The broker offers to trade on MT4, MT5, and IRESS platforms. FP Markets accounts are based on its trading platforms: Standard and Raw account for MetaTrader platforms and Standard, Platinum, and Premier accounts for IRESS.

Best Forex Brokers for Beginners in Greece

We picked Capital.com as the best forex broker Greece for beginners.

Capital.com is a forex and CFDs broker. Founded in 2016, it is headquartered in London and the United Kingdom. With the broker, traders have access to the following trading categories: forex, indices, commodities, cryptocurrencies, and stock CFDs. The broker holds licenses in the United Kingdom, Cyprus, and Belarus.

We have picked Capital.com as the best forex broker Greece for beginners, as its educational section is exceptional. By signing with the broker, traders will gain access to detailed courses on trading, video guides, webinars, glossary, in-depth articles, and a demo account.

Best MT4 Forex Broker for Greek traders

We picked AvaTrade as the best MT4 broker in Greece. 

Founded in 2006 AvaTrade is headquartered in Dublin, Ireland. The broker is regulated in Ireland, Australia, the UAE, Japan, South Africa, and the British Virgin Islands. AvaTrade offers multiple instruments in the following categories: forex, indices, commodities, bonds, cryptocurrencies, stocks, and ETFs.

With AvaTrade clients have access to multiple trading platforms: MetaTrader 4, MetaTrader 5, WebTrader (AvaTrade’s proprietary web-based platform), AvaOptions (forex vanilla options), AvaTradeGo (for mobile trading). We have picked AvaTrade as the best MT4 forex broker in Greece, as its MT4 platform is very clear and easy to use. Also, it includes all the necessary tools and features for conducting favorable trades.

Best Low Spread Forex Companies Greece

We picked Plus500 as the best low spread forex broker in Greece.

Plus500 was founded in 2008. The broker is headquartered in Israel. The broker is regulated in multiple jurisdictions and holds licenses in Seychelles, Singapore, and Australia. Plus500 offers trading services with forex pairs and CFDs of stocks, indices, cryptocurrencies, ETFs, and options. 

Plus 500 offers the following deposit methods: credit/debit cards, bank transfers, and two popular electronic wallets, PayPal and Skrill. Plus500 offers its own trading platform. The platform is easy to use and user-friendly, yet it cannot be customized.

Based on our test, the broker’s spreads are consistent. Plus500 spreads for forex and ETFs are much lower than the industry average. On the other hand, spreads on indices, commodities, stocks, and cryptocurrencies are on the industry average or slightly higher.

Greece Forex Brokers List

There are many brokers available to Greek traders. We have tested them and come up with an impressive list.

Greece Forex BrokerAbout Our TestOur Review
eToroDeposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review
Plus500Deposit Amount: Over €6,000
Total Trade: 18 trades
Plus500 Review
AXI (AxiTrader)Deposit Amount: Over €6,000
Total Trade: 12 trades
AXI Review
XMDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
Admiral MarketsDeposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
PepperstoneDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
Vantage FXDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
ThinkMarketsDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
GO MarketsDeposit Amount: Over €4,500
Total Trade: 12 trades
GO Markets Review
ICM CapitalDeposit Amount: Over €5,000
Total Trade: 12 trades
ICM Capital Review
INFINOXDeposit Amount: Over €4,000
Total Trade: 9 trades
INFINOX Review
Capital.comDeposit Amount: Over €3,500
Total Trade: 15 trades
Capital.com Review
DarwinexDeposit Amount: Over €5,000
Total Trade: 12 trades
Darwinex Review
XTBDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
FXTMDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
TickmillDeposit Amount: Over €8,000
Total Trade: 12 trades
Tickmill Review
Trading 212Deposit Amount: Over €5,500
Total Trade: 15 trades
Trading 212 Review

FAQ and More on Forex Trading in Greece

There are often a lot of questions related to trading in Greece. We tried to choose and answer some of the most essential queries related to the brokers available in the country.

How to Verify Greece Regulated Broker?

In Greece, traders should make sure that the broker falls under ESMA regulation. This can easily be confirmed on the ESMA website. Besides, the main regulatory body in Greece that oversees the financial market and Forex trading is the Hellenic Capital Market Commission. Traders can also verify a Greece broker on the regulator’s official website.

However, it is better safe than sorry, so it is always advisable to double-check any information that is connected with your money safety. You can confirm the broker’s availability on the broker’s official website.

Greece main regulator body - HCMC

High Leverage Forex Brokers

Leverage is known as the borrowed money by a trader to invest in a trading instrument. High leverage is available in Greece for both professional traders and retail traders. They can open accounts with a Swiss broker, for instance, Dukascopy. Traders should pay attention to the reliability of the broker, as the majority of offshore brokers offer high leverage, yet, no matter how attractive their offerings seem, it is recommended to avoid offshore brokers.

According to the ESMA’s guidelines, the high leverage for retail traders is limited to 30:1. However, for professional traders, the leverage can be higher – up to 500:1. 

Tax in Greece for Forex Trading

In Greece, forex trading is subject to taxation. Generally, a tax of 15% is applied to the profits gained from forex trading.

Traders must remember that the responsibility of taxes is fully on them. Any kind of avoidance or delay may lead to unpleasant complications and fines.  

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GKFX Review 2022

For this GKFX review, we have opened a standard account with the broker and deposited over €5,000.

We traded the popular instrument in each market to get the real spreads and placed a total of 15 trades.

We also reached out to customer support to solve the issues we faced.

Finally, we withdrew our funds to see if there are any issues with the withdrawal process.

What is GKFX?

GKFX is a United Kingdom-headquartered forex and contracts for difference (CFDs) broker established in 2010.

The broker group runs three retail brands: GKFX, GKFX Prime, and GKFX Cambodia. It also runs the GKPro brand, which serves only professional traders.

Retail offers in the broker include contracts for differences (CFDs) trading with forex, indices, commodities, stocks, and cryptocurrencies.

GKFX is well-regulated with operating licenses from the financial regulators in the United Kingdom, Malta, the British Virgin Islands, Australia, and Cambodia.

Some of the highlights of GKFX are:

🗺️ Authorised & Regulated inUK, Malta, British Virgin Islands, Cambodia, Australia
🛡️ Is GKFX safeYes
💰 EUR/USD Spread0.67
💳 Minimum depositUS$0 or €200
💰 Withdrawal feeUS$0
🖥️ Trading PlatformMT4, MT5
📈 Markets offeredForex, Indices, Stocks, Commodities, Cryptocurrencies
📉 Number of Products282 (depends on the jurisdiction and account type)

Licenses and Regulations

GKFX holds licenses from regulators in 4 countries.

The broker is regulated in the UK, Malta, British Virgin Islands, and Cambodia. The UK’s FCA is considered as one of the top global financial regulators.

The full list of GKFX licenses is below:

Legal entityRegistered inRegulatorLicense numberAccepting clients fromCompensation scheme amount
GKFX Financial Services LtdUnited KingdomFinancial Conduct Authority (FCA)501320United Kingdom£85,000
AKFX Financial Services LtdMaltaMalta Financial Services Authority (MFSA)C60473European Union€20,000
International Finance House LtdBritish Virgin IslandsB.V.I Financial Services Commission (FSC)BVI SIBA/L/1066GlobalNo compensation scheme
GKFX Cambodia Co LtdCambodiaSecurities and Exchange Commission of Cambodia (SECC)026CambodiaNo compensation scheme
FairMarkets Trading Pty LtdAustraliaAustralian Securities and Investment Commission (ASIC)424122AustraliaNo compensation scheme
Global Kapital Investama BerjangkaIndonesiaCommodity Futures Trading Supervisory Agency (BAPPEBTI)824/BAPPEBTI/SI/11/2005IndonesiaNo compensation scheme

The Malta-regulated entity operates with the tradename GKFX, the British Virgin Islands entity with GKFX Prime, the Cambodian entity with GKFX Cambodia, the Australian entity operates under FairMarkets, and the Indonesian entity operates with GKInvest.

UK regulated broker GKFX Financial Services Ltd only offers services to professional and institutional clients with the tradename GKPro.

GKFX MFSA (Malta Financial Services Authority) License
GKFX MFSA License

Is GKFX Safe?

Yes, GKFX is a safe broker from a regulatory perspective.

The broker is well-regulated with a total of 4 licenses. It is also overseen by the UK’s FCA, which is a well-reputed financial market regulator and offers a compensation scheme of £85,000 to protect clients’ funds. Malta’s MFSA also offers a compensation scheme of €20,000.

For our tests, we opened an MT5 Standard account with AKFX Financial Services Ltd, which is regulated by Malta Financial Services Authority (MFSA) in Malta.

Fees and Commissions

Trading fees on GKFX are mostly built into spreads. The broker, however, charges commission on its higher-tier accounts with low spreads.

Spreads for forex, indices, commodities, and stocks on our trades were much below the average industry benchmark.

GKFX Spread Charged in Our Trades

For our tests, we have chosen popular instruments in each market. We placed 3 trades for each instrument to get a picture of the average spread.

Our test is based on GKFX’s Standard account. Spreads for our trades with forex, indices, stocks, and commodities remained stable with minor deflections for all asset classes.

Details of our trades are shown below the table.

MarketsInstruments1st trade2nd trade3rd tradeAvg. spread
ForexEUR/USD0.750.650.60.67
IndicesFTSE 1000.850.850.80.83
StocksApple3.73.73.73.7
CommoditiesGold2222
CryptocurrencyBitcoin38.242546.6136.62

Our testing finds that spreads on forex, indices, commodities, and cryptocurrency CFDs are lower than the industry average. Spreads on share CFDs are, however, on the higher side.

MarketsInstrumentsAvg. spread charged in our tradesIndustry avg. spread
ForexEUR/USD0.671.16
IndicesFTSE 1000.831.65
StocksApple3.71.75
CommoditiesGold23.53
CryptocurrencyBitcoin36.6272.81

Other Fees

GKFX does not have any prominent non-trading fees. The broker does not charge any deposit or withdrawal fees, and there are no maintenance or inactivity fees either.

Account Types

The retail account types offered by GKFX vary with each regulated entity.

Details of all account types under AKFX Financial Services Ltd (regulated in Malta) are:

Standard AccountPremium Account
Trading PlatformsMetaTrader 4, MetaTrader 5MetaTrader 4, MetaTrader 5
Account CurrencyUSD, GBP, EURUSD, GBP, EUR
Minimum deposit€200€25,000
CommissionNone€6/lot
Order executionInstant ExecutionInstant Execution
SpreadFrom 0.6From 0.1

Details of all account types under International Finance House Ltd (regulated in the British Virgin Islands) are:

Standard Fixed AccountStandard Variable AccountVIP Variable AccountECN Zero Account
Trading PlatformsMetaTrader 4, MetaTrader 5MetaTrader 4, MetaTrader 5MetaTrader 4, MetaTrader 5MetaTrader 4, MetaTrader 5
Account CurrencyUSD, GBP, EURUSD, GBP, EURUSD, GBP, EURUSD, GBP, EUR
Minimum depositNoneNone$5,000None
CommissionNoneNoneNone$10/lot
Order executionInstant ExecutionInstant ExecutionInstant ExecutionInstant Execution
SpreadFrom 1.8From 1.2From 0.6From 0

Details of all account types under GKFX Cambodia Co Ltd (regulated in Cambodia) are:

Standard AccountECN Zero AccountVIP Variable Account
Trading PlatformsMetaTrader 4MetaTrader 4MetaTrader 4
Account CurrencyUSDUSDUSD
CommissionNone$15 per round lotNone
Order executionInstant ExecutionInstant ExecutionInstant Execution
SpreadFrom 1.2From 0From 0.6

FairMarkets Trading Pty Ltd (Australian regulated broker) offers only one account type:

Real Account
Trading PlatformsMetaTrader 5
Account CurrencyUSD, AUD
CommissionNone
Order executionInstant Execution
SpreadFrom 1.2

Details of account types offered by Global Kapital Investama Berjangka (regulated in Indonesia):

Standard Fixed AccountSilver Fixed AccountGold Fixed AccountPlatinum Fixed AccountStandard Variable AccountECN Zero Account
Trading PlatformsMetaTrader 5MetaTrader 5MetaTrader 5MetaTrader 5MetaTrader 5MetaTrader 5
Account CurrencyUSD, IDRUSD, IDRUSD, IDRUSD, IDRUSD, IDRUSD, IDR
Commission$2 per lot$2 per lot$2 per lot$2 per lot$2 per lot$10 per lot
Order executionInstant ExecutionInstant ExecutionInstant ExecutionInstant ExecutionInstant ExecutionInstant Execution
Spread1.61.210.8From 1.2From 0

The Indonesian entity also offers a Multilateral account for commodities trading.

Account Opening

Our overall experience of opening a new account with GKFX was smooth and fast.

We opened a MetaTrader 5 Standard account for our tests under the Malta-regulated entity.

The process of registration of a new GKFX account:

  1. Enter personal details like the first name, last name, country of residence, phone number, email, and declaration of non-US nationality.
  2. Prove more personal details like date of birth, place of birth, residential address, nationality, and passport number.
  3. Provide professional and financial information: employment status, annual income, total assets, liquid assets, source of assets, expected annual deposit amount and expected trading frequency.
  4. Answer some questionnaires on trading knowledge and experience.

We submitted the following documents to verify our GKFX account:

  1. Copy of national identification (both front and back)
  2. Copy of our bank statement

The registration process took around 12 minutesOur account was verified in 1 working day.

Our account was registered on March 26, 2022, and approved on March 29, 2022.

Our overall account opening experience was smooth and without any issues from registration to verification.

GKFX Account Opening
GKFX Account Opening

Deposit and Withdrawal

Both deposits and withdrawals on GKFX are easy and fast. All our funding and withdrawal requests were completed without any issues.

The broker does not charge any fees for deposits and withdrawals.

Minimum Deposit

The minimum deposit on GKFX varies with the account types.

For Malta-registered entity operating as GKFX:

  • Standard account: €200
  • Premium account: €25,000

For the British Virgin Islands-registered GKFX Prime:

  • Standard Fixed account: $0
  • Standard Variable account: $0
  • VIP Variable account: $5,000
  • ECN Zero account: $0

Traders only need to maintain the minimum deposit balance on their accounts.

Deposit

GKFX supports deposits with bank transferscredit and debit cards, two online wallets, Neteller and Skrill. There are no deposit fees.

The deposit methods also depend on the account jurisdiction.

We tested the deposit process on GKFX using a credit card, Neteller, and Skrill.

Details of our fund deposits are shown in the below table.

Payment MethodSubmitted DateFunded Account DateFunding TimeFee
Credit card2022-04-062022-04-06Instant0
Neteller2022-04-062022-04-06Instant0
Skrill2022-04-062022-04-06Instant0
GKFX Deposit Methods
GKFX Deposits and Withdrawals

Withdrawal

GKFX allows withdrawals with bank transfers, credit and debit cards, and online wallets like Neteller and Skrill. It does not charge any withdrawal fee.

Overall, our experience with the GKFX withdrawal process was positive.

Details of our withdrawal requests are in the table below.

Payment MethodSubmitted DateFund Released DateFund Arrived DateWithdrawal TimeFee
Credit card2022-04-062022-04-072022-04-082 working day0
Neteller2022-04-062022-04-072022-04-071 working day0
Skrill2022-04-062022-04-072022-04-071 working day0

Markets and Products

GKFX offers CFDs trading services with forex, indices, stocks, commodities, and cryptocurrencies instruments.

The complete list of GKFX’s offerings are:

MarketsInstruments
Forex47
Indices20
Stocks and ETFs198
Commodities14
Cryptocurrency3

The markets and the number of offered instruments will depend on the account jurisdiction and also the type of account.

Trading Conditions

Trading conditions on GKFX are bad. The broker does not allow hedging and scalping strategies. Retail traders cannot even change leverage levels.

Only professional traders can change leverage levels.

Trading MethodAllowed
HedgingNo
ScalpingNo
Change LeverageNo (only professional clients can change leverage levels)

Leverage

Leverages offered by the various entities of GKFX are detailed below:

MarketsGKFX Financial Services LtdInternational Finance House LtdAKFX Financial Services LtdGKFX Cambodia Co LtdFairMarkets Trading Pty LtdGlobal Kapital Investama Berjangka
Major Currency Pairs30:1400:130:1400:130:1400:1
Non-Major Currency Pairs20:1400:130:1400:120:1400:1
Gold20:1200:120:1400:120:1400:1
Other Commodities (except Gold)10:150:120:1400:110:1100:1
Indices5:1200:120:1NA20:1100:1
Stocks5:110:120:1NANANA
CryptocurrenciesNA20:12:1NA2:1NA

Copy Trading GKFX Prime Review

The British Virgin Islands-registered GKFX Prime offers services with two third party copy trading platforms:

GKFX Copy Trading
GKFX Copy Trading

Trading Platform

GKFX offers trading services on MetaTrader 4 and MetaTrader 5 platforms. These are industry standard third-party platforms developed by the company MetaQuotes Software.

Both these platforms are available on the web, desktop, and mobile.

GKFX MT4

GKFX Trading Platforms
GKFX Trading Platforms

We executed all our trades on MetaTrader 5 platform.

Research and Tools

GKFX offers excellent market research and analysis tools.

Tools offered by the broker include:

  • Good charting tools
  • Trading signals using Autochartist and Trading Central
  • Economic calendar
  • Forex VPS
  • Trading automation with Tradeworks
  • Market research articles and weekly videos
  • Newsfeed
GKFX Trading Tools
GKFX Trading Tools

Education

GKFX offers good educational resources.

The broker’s educational materials include:

  • Video tutorials for beginners and expert traders
  • Details guides on trading and platforms
  • Ebooks
  • Webinars
  • Demo account
GKFX Educational Material
GKFX Webinar

Customer Service

GKFX has good customer support.

Traders can contact the broker via:

  • Live chat 
  • email
  • Phone

The support staff is available only on weekdays and takes questions in 14 languages.

Our experience with GKFX customer support was very good.

The support staff on both live chat and email was quick enough to answer our query accurately and in detail.

QuestionResponse TimeQuality of reply
Live ChatAsked questions on hedging and scalping1 minuteClear and accurate
EmailAsked about the number of trading instruments30 minutesClear and accurate
EmailAsked about releasing our withdrawal fund8 hoursClear and direct instructions
GKFX Customer Support
GKFX Customer Support

The broker also has a detailed FAQ section for frequently faced issues.

Conclusion

Our overall experience with GKFX was decent.

The broker offers attractive spreads on forex with fast execution. Commodity spreads also remained stable.

Account opening, deposits, and withdrawals are also smooth and fast on the broker. Our experience with customer support was again excellent as the responses were fast, clear, and detailed.

On the negative side, GKFX does not allow traders to run hedging and scalping.

We recommend GKFX to forex traders who run EA.

We recommend GKFX for traders who are

  • Experienced traders
  • Beginners
  • EAs trading
  • Trading through MT4

GKFX might not be a fit if you are

  • Real Stock / Futures Trading
  • Commission based trading
  • Run Scalping
  • Hedging
  • Prefer other platforms rather than MetaTrader

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Best Forex Trading Schools South Africa (Johannesburg, Pretoria) 2022

For this list, we have researched and tested popular Forex Trading Schools South Africa available both online and offline.

We have enrolled with several online forex trading webinars, seminars, and trading school programs that are provided by different trading schools available across South Africa in Johannesburg and Pretoria. We have completed the trading courses and programs, webinars and checked the quality of its service fully.

At last, based on our experience we have picked the Best Forex Trading School South Africa available to both beginner and advanced traders. 

What makes Best School for Trading South Africa?

There are many forex trading schools and courses available in South Africa offering plenty of courses, webinars, and seminars to help beginners get started or traders with experience improve knowledge or polish trading skills. For beginners, it is advised to take beginners course to get a general knowledge about Markets and then select the best trading school and find Course that will cover your trading need.

Forex brokers must be registered and authorized with the Financial Sector Conduct Authority (FSCA), formerly known as the Financial Services Board (FSB), to operate in South Africa. FSCA is a regulator with some strict scrutiny measures, and thus brokers regulated by it are considered safe. It is the only South African regulator overseeing the local Forex market. Read more about SA Forex Brokers here.

When it comes to Forex Trading South Africa Schools, the following options are available: Forex Trading School Online Free and others with a charge depending on the conditions of the school or Forex Broker or Financial institution that offers the course.

The characteristics of a good Forex Trading SA School are:

📈 EducationOnline Course
In class Lessons
👨‍💻 SchoolReputable School with Expert Instructors
🔎 CourseBeginners Course
Advanced Course
Macro Course
Live Streaming
📑 Free Materialse-Books
Guides
Intro Videos
🚀 CoachingPersonal Lessons
One on One Coaching
🏛️ QualityWell Structured material
Good access to resources
Live trade demonstrations
Demo Account
💸 FeeFree Materials
Prepaid Courses
Monthly Subscription

Best Trading School in South Africa

As a result of our research, we picked Forex Masters as the best pro trading school in South Africa, Pretoria. 

Forex Masters has received over 24 international awards and nominations as the Top Forex Training Institution in South Africa. Training Courses are presented every week in Pretoria and on request in Cape Town, Port Elizabeth, or elsewhere. Follow-up sessions are also available.

Forex Trading Courses in South Africa

While looking for SA trading courses to get started, traders are highly recommended to learn only from reliable and popular firms, and never use any education materials as trading advice. For our list, we selected only popular and reputable schools and courses with quality education and materials suitable for various level traders.

School Name City Course Course Cost Course Duration  Free Materials School Website    
Stock Market College (stock trading school online)  Johannesburg The Stock Market and Concepts of TradingR33 744 full payment once-offOn-demand Yes Stock Market College
Forex Masters   Pretoria Forex
Trading Course
One-to-One Training – R15,000.00 per person; Groups of 5 and more – R10,000.00 per person3 DaysYes  Forex Masters  
Wealth Forex Academy JohannesburgWFA Mentorship CourseOnline Forex Course – R4 999 ($350 USD); Face-to-Face – R 7 999; Online Indices Course – R3 999Two weeks Forex classes, 12 months mentorshipYes  Wealth Forex Academy  
Forex Academy Johannesburg Forex Trading Course$599 (VAT incl)All year long, on-demandYes  Forex Academy
International School of TradersJohannesburgBeginners CourseNot providedNot definedInternational School of Traders

Best Forex Trading School in Johannesburg

  • Stock Market College, Johannesburg – Best Stock Trading School Online
  • Wealth Forex Academy, Johannesburg – Best Financial Markets Trading Mentorship School
  • Forex Academy, Johannesburg – Best Forex Fundamental Courses

We selected Stock Market College as the best trading school in Johannesburg. 

The school offers courses on The Stock Market and Concepts of Trading, Fundamental Analysis, Technical Analysis, Planning a Trade, Practical Trading, and so on. The Stock Market College’s mission is to provide quality, learning opportunities to all candidates wanting to educate themselves in the Stock Market, so is an ideal choice for learning to trade Stocks.

Forex Trading Mastery School Johannesburg

The forex trading market is one of the traded markets in the world. That’s the reason that many people are interested in learning how to trade on it.

There are plenty of Forex Trading Mastery Courses available in Johannesburg offering a trader more than just strategies and markets. They provide an opportunity to learn about the selected topic in-depth, by enrolling in particular courses or workshops that match their needs specifically.

Here is our top selection of Forex Trading Mastery Schools in Johannesburg:

School Name Location Course Course Cost Course Duration  Free Materials School Website    
Wealth Forex AcademyJohannesburgWFA Mentorship Course Online Forex Course – R4 999 ($350 USD); Face-to-Face – R 7 999; Online Indices Course – R3 999Two weeks Forex classes, 12 months mentorship Yes Wealth Forex Academy
Stock Market CollegeJohannesburgThe Stock Market and Concepts of TradingR33 744 full payment once-offOn-demand Yes  Stock Market College
Forex AcademyJohannesburg Forex Trading Course$599 (VAT incl)All year long, on-demandYes  Forex Academy

Best Forex Trading School in Pretoria

For this list, we have selected the most reputable and popular Forex Trading Schools in Pretoria:

  • Forex Masters, Pretoria – Best Pro Trading School
  • NASDAQ Forex Academy, Pretoria – Best Nasdaq Education School
  • Calliba Forex Trading Academy, Pretoria – Best Trading School

As a result of our research, we selected Forex Masters as the best pro trading school in Pretoria. 

Forex Trading Courses Pretoria

If you are looking for a Forex Trading Course in Pretoria, you need to find a course that is taught by reputable and well-known schools, so you will be able to learn about market analysis, risk management, and technical analysis, among other topics. And also make sure the course you choose is flexible and adaptable to your unique learning style.

Here is our top selection of Forex Trading Courses in Pretoria:

School Name Location Course Course Cost Course Duration  Free Materials School Website    
Forex Masters Pretoria Forex
Trading Course
One-to-One Training – R15,000.00 per person; Groups of 5 and more – R10,000.00 per person3 DaysYes Forex Masters
NASDAQ Forex AcademyPretoriaAdvanced Trading Training CourseR2,500.00On-demand –  NASDAQ Forex Academy
Calliba Forex Trading AcademyPretoriaForex Trading CourseOn-demand–  Not available

FAQ and More on South Africa School of Investment and Trading

The South African trading market offers many trading school options for both beginner and experienced traders. Each trading school has its own advantages and disadvantages. You just need to consider your own goals and objectives before deciding which one is right for you. However, make sure you choose a school or course that offers high-quality education and provides accurate information.

Swing Trading School South Africa

Swing trading is one of the popular trading strategies applied to the financial markets and based on keeping positions longer than a day.

The South African Swing Trading School offers a comprehensive education in day trading and is suitable for NDD brokers. The school is located in Johannesburg offering a variety of courses for both beginner and experienced traders. The South African Swing Trading School is an excellent choice for those interested in learning how to swing trade effectively.

Trading Schools in South Africa

There are many offline and online schools available in South Africa, here we list some of the popular schools in South Africa cities available for online and offline learning:

  • Polokwane Forex Academy, Polokwane – Best from Basic to Advance Courses
  • S A Forex Trading School, Port Shepstone – Best Forex Trading Mentorship School
  • Wealth Forex Academy, Sandton – Best Forex Trading Fundamental Courses
  • Prime Forex Academy, Durban – Best Forex Trading School for Beginners

Crypto Trading School South Africa

Crypto trading schools in South Africa offer NDD brokers for those who want to learn about cryptocurrency. The schools provide both online and offline learning environments where students can access the course material at their own pace.

Here we selected the top Crypto Trading Schools in South Africa:

  • The Blockchain Academy, Cape Town
  • CoinEd, Johannesburg
  • IT Academy, Bellville

Binary Options Trading School

Binary options are financial products requiring traders to speculate if the price of the underlying assets will either go up or down. The products usually have an expiry date and/or time, and provide fixed returns if the asset price moves in favor of the trader.

Binary Options are considered high-risk instruments, so we do not recommend trading this instrument, mostly reputable schools do not teach this kind of trading for safety reasons, too. Read more about Binary Options in our Article.

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Best Forex Trading Schools & Courses Australia (Sydney, Melbourne) 2022

For this list, we have researched and tested popular Forex Trading School Australia available both online and offline.

We have enrolled with several online forex trading webinars, seminars, and trading school programs that are provided by different trading schools available across Australia in Sydney and Melbourne. We have completed the trading courses and programs, webinars and checked the quality of its service fully.

At last, based on our experience we have picked the Best Forex Trading Schools and Courses AU available to both beginner and advanced traders. 

What makes good Forex Trading Australian Schools?

Forex trading can be a profitable venture, however, it is important to understand how the market works before you start trading. There are many forex trading schools in Australia offering plenty of courses, webinars, and seminars to help beginners get started or traders with experience improve knowledge or polish trading skills.

Forex brokers must be authorized and licensed by the Australian Securities & Investment Commission (ASIC) to operate in Australia. ASIC-regulated brokers are safe to trade as ASIC is a good regulator with strict measures to protect investors and traders. Forex Trading itself is regulated by top-tier regulatory bodies including ASIC. Read more about Australian Forex Brokers.

For the very beginners, it is advised to take beginners course to get a general knowledge about Markets and then select the best trading school and find Course that will cover your trading need.

When it comes to Forex Trading AU Courses, the following options are available: Forex Trading School Online Free and others with a charge depending on the conditions of the school or institution that offers the course.

The characteristics of a good Forex Trading Australian School are:

📈 EducationOnline Course
In class Lessons
👨‍💻 SchoolReputable School with Expert Instructors
🔎 CourseBeginners Course
Advanced Course
Macro Course
Live Streaming
📑 Free Materialse-Books
Guides
Intro Videos
🏛️ QualityWell Structured material
Good access to resources
Live trade demonstrations
Demo Account
🚀 CoachingPersonal Lessons
One on One Coaching
💸 FeeFree Materials
Prepaid Courses
Monthly Subscription

Best Forex Trading School in Australia

As a result of our research, we picked Opes Trading Group as the overall best forex school in Australia. 

Opes provides several unique forex trading courses in-person/online, tailored to learners’ needs, and video trading courses online. Whether you are just beginning to learn forex or you are an experienced trader, their expertise will equip learners with the theory, technical and fundamental analysis, and professional mindset coaching.

Australian Trading School Courses

While looking for Australian trading schools and courses to get started, traders are highly recommended to learn only from reliable and popular firms, and never use any education materials as trading advice. For our list, we picked only well-known and reputable schools with quality education and materials suitable for various level traders.

School Name City Course Course Cost Course Duration  Free Materials School Website    
Opes Trading Group    Sydney Forex trading course online and Video trading, Opes Platinum Subscription (OPS)$140/MonthOn-demand Yes Opes Trading Group   
Learn to Trade   Sydney Forex free workshop, learn Forex, momentum coaching, Forex strategiesNot provided officially On-demand Yes  Learn to Trade     
Wealth Within Melbourne Trading mentor course, share trading, diploma of share trading, advanced and Forex trading courses$1,997 for Trading Mentorship Program11 lessons for Trading Mentorship ProgramYes  Wealth Within    
TradersCircle Melbourne Technical trading for the Australian market, and options and how to trade themDepends on the duration of the program2 monthsYes  TradersCircle
International Day Trading AcademyQueenslandDay trading, beginner trading courses, trading retreat, free trading workshop, free trading classNot provided14+ hours (day trading), 10 work hours a week (free workshop) Yes International Day Trading Academy

Best Trading School in Sydney

  • Opes Trading Group, Sydney – Best for Beginners and Seasoned Traders
  • Learn to Trade, Sydney – Best Free Resources and Education Package
  • Trading Mastery, Sydney – Best Free Trading Webinar & Training

We picked Opes Trading Group as the overall best trading school in Sydney. 

With Opes, from beginner to advanced levels, you will gain an in-depth understanding and knowledge of forex and how to trade currencies correctly. Opes offers a dynamic spectrum of forex trading courses and education across a flexible range of learning styles.

In addition, the school provides online and in-person training as well.

Forex Trading Courses Sydney

The forex trading market is one of the most liquid and traded markets in the world. That’s why it’s not surprising that so many people are interested in learning how to trade on it.

There are plenty of Forex trading courses available in Sydney offering a trader more than just strategies and markets. They provide an opportunity to learn about the selected topic in-depth, by enrolling in particular courses or workshops that match their needs specifically.

Here is our top selection of Forex Trading Courses in Sydney:

School Name Location Course Course Cost Course Duration  Free Materials School Website    
Opes Trading GroupSydney Forex trading course online$140/Month On-demand Yes Opes Trading Group     
Learn to
Trade
Sydney Learn Forex CourseNot provided officially On-demand Yes  Learn to
Trade
Trading MasterySydney Membership in Trading Mastery$5985 + $49 per month access fee(2 payment options available)– Yes  Trading Mastery

FAQ and More on Financial Trading schools in Australia

Australian trading market offers plenty of trading school options available for beginners looking to get deep into this field. Each trading school has its own advantages and disadvantages. You just need to consider your own goals and objectives before deciding which one is right for you. However, make sure you choose a school or course that offers high-quality education and provides accurate information.

Best Stock Trading Courses Australia

Stock trading is one of the popular trading assets in Australia. In order to find the best stock trading course, you need to define whether you wish to trade real Stocks or speculate on the price movement, known as Stock CFD Trading. Currently, many Australian schools offer some excellent stock trading courses like Wealth Within, Australian Shareholders’ Association (ASA), TradersCircle, etc.

Trading Schools by Instruments in Australia

Schools can focus either on one particular trading strategy or instrument preference or can run different courses based on the instrument or strategy the trader is looking for.

Here we selected some good trading instruments and schools in Australia offering courses on the topic:

  • Learn to Trade – Currency Trading School  
  • International Day Trading Academy – Futures Trading School
  • The Knowledge Academy – Bitcoin Trading School/ Cryptocurrency Trading School
  • Wealth Within – Stock Trading School Online/ Shares Trading School
  • StockWatch – Emini Trading School
  • SGS – Commodity Trading School
  • TradersCircle – Options Trading School
  • Binary Options Australia – Binary Options Trading School (Binary Option is a forbidden instrument in Australia)

Australia Day Trading School Online

Day trading is a strategy that requires traders to buy and sell financial instruments within a day. Traders do not take delivery of the assets as the trades are closed within a single trading day.

Before opening a trading account and starting placing trades you need to understand how the markets work. Australia has a few Day Trading Online Schools available offering comprehensive day trading courses. You will learn how to read trading charts and identify trading patterns. These patterns are the foundations of identifying high probability trades. Courses will help you develop a deep understanding of why the markets move and how you can take advantage of them.

Here we picked some popular day trading schools in Australia offering courses on the topic:

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Best Forex Broker Belgium 2022

To come up with this list, we have tested over 20 forex brokers Belgium.

We opened a real account and deposited between $4,000 and $6,000 with each broker. Then, we placed real trades in each popular market with the purpose of getting the actual picture. 

We also contacted customer support to solve issues that we had encountered. At last, we withdrew our funds to check the withdrawal process.

We handpicked the best forex brokers Belgium based on our trading data and experience as a trader.

Is Forex Trading Legal in Belgium?

Forex trading in Belgium is regulated by the Financial Services and Markets Authority (FSMA). The body was established in 2001 and it is committed to ensuring that people who use financial services are treated fairly. The FSMA, together with the National Bank of Belgium, is responsible for monitoring and supervising the Belgian financial sector.

You can visit the Financial Services and Markets Authority website for more information.

FSMA supervises the financial services providers, follows that the companies comply with conduct of business rules, supervises products, and contributes to the improvement of financial education in the country.

Belgium is a member of the EU, thus all the European and UK brokers are available for Belgium traders. Still, trading forex in the country is easier if you are not a Belgium citizen. For its citizens, there are some restrictions and rules. According to them, forex trading for retail traders is banned. Only professional traders are able to access the market. To prove that they are professional traders, the citizens of Belgium have to submit a Financial portfolio of at least 500.000€, also, proof of one or more years of experience. Only after the verification of the submitted information, Belgium traders are able to start trading. 

🏦RegulatorFinancial Services and Markets Authority (FSMA)
🛡️Is It safe to tradeYes
🔒Negative Balance ProtectionYes
💰Compensation SchemeYes

Best Forex Brokers in Belgium

As to forex brokers Belgium, there are a number of points traders should consider before making a final choice. First, if you are a retail trader, you should be aware that you will not have access to a number of instruments: spread betting, binary options, leveraged products, and spot forex.

In Belgium, there are local brokers based in the country. There are also brokers that accept traders from Belgium. All the European and UK brokers accept traders from the country as it is a part of the EU, due to ESMA regulation. 

When choosing a broker, it is advisable to avoid offshore brokers. Their offerings can be quite favorable, yet it is better to avoid signing with them. Also, another important point to pay attention to is customer service. Make sure that the broker provides services in your preferred language.  

To select the best forex brokers Belgium, we have tested and reviewed many forex brokers. For our tests, we opened a live account, deposited real money, and placed real trades with each broker. Based on our test and observations, we recommend choosing from Cyprus, Germany, or other EU brokers with a good reputation.

We have come up with the following best forex brokers Belgium:

  • AvaTrade
  • FBS
  • FXTM
  • Admiral Markets
  • OANDA

Overall Best Broker in Belgium

We picked FBS as the overall best forex broker Belgium. 

FBS is a forex CFDs broker founded in 2009. It is based in Belize and Cyprus. The broker is heavily regulated in Belize, Cyprus, and Australia. FBS offers a number of tradable instruments in different categories: forex, indices, commodities, stocks, and cryptocurrency CFDs.

FBS spreads on forex, indices, and stocks CFDs are rather low, mostly lower than the industry average. On the other hand, spreads on commodities are slightly higher. The broker offers a few account types: Standard Account, Cent Account, Micro Account, Zero Spread Account, ECN Account.

FBS supports deposits with bank transfers, credit and debit cards, and popular e-wallets like Neteller, and Skrill. FBS offers several options for trading platforms to choose from: MetaTrader 4, MetaTrader 5, and FBS Trader. FBS also offers quality education: webinars, video guides, glossary, demo account.

Best Forex Brokers for Beginners in Belgium

We picked OANDA as the best forex broker Belgium for beginners.

OANDA was founded in 1996, in the US. The broker is heavily regulated with a number of licenses: CFTC, NFA, FCA, MAS, ASIC, IIROC. OANDA offers a wide range of instruments: Forex and CFD trading, currency pairs, indices, commodities, bonds and metals, futures trading, commodities futures. OANDA has only one standard account type. However, clients with a minimum $50K deposit automatically acquire the status of a Premium client. This way they get tighter spreads and better offerings.

OANDA offers different trading platform options. It has its own proprietary platform – Oanda Trade, however, traders can perform their tradings through the MT4 platform.

We have picked OANDA as the best forex broker Belgium for beginners as its education section is rather good and diverse. It offers a wide range of educational materials and webinars for traders at different levels.

Best MT4 Forex Broker for Belgium

We picked FXTM as the best MT4 broker in Belgium. 

ForexTime was founded in 2011 and is headquartered in Cyprus. The broker is strictly regulated and holds licenses in different jurisdictions: the United Kingdom, Cyprus, South Africa, and Mauritius. Among FXTM offerings are forex pairs, indices, commodities, stocks, cryptocurrencies, spot metals, and also real stocks. FXTM offers several account type options: Standard Account, Cent Account, and Stock CFDs Account. 

FXTM traders can choose from 3 main trading platforms: MT4, MT5, FXTM Trader (proprietary mobile platform). We have picked FXTM as the best MT4 forex broker Belgium, as it includes most of the important tools and features to conduct successful trading.

Best Low Spread Forex Broker for Belgian Trader

We picked AvaTrade as the best low spread forex broker in Belgium.

AvaTrade was founded in 2006. It is headquartered in Dublin and Ireland. The broker is strictly regulated in several jurisdictions: Ireland, Australia, the UAE, Japan, South Africa, and the British Virgin Islands. AvaTrade offers trading with forex, indices, commodities, bonds, cryptocurrencies, stocks, and ETFs. 

Based on our test, AvaTrade offers attractive spreads on forex, stocks, commodities, and cryptocurrency CFDs. We have picked AvaTrade as the best low spread forex broker as its spreads for forex, indices, and commodities are much below the industry average. Anyway, Cryptocurrency and stock spreads are slightly on the higher side. 

Belgium Forex Brokers List

There are many brokers available to Belgian traders. We have tested them and come up with an impressive list.

Belgium Forex BrokerAbout Our TestOur Review
eToroDeposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review
Plus500Deposit Amount: Over €6,000
Total Trade: 18 trades
Plus500 Review
AXI (AxiTrader)Deposit Amount: Over €6,000
Total Trade: 12 trades
AXI Review
XMDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
Admiral MarketsDeposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
PepperstoneDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
Markets.comDeposit Amount: Over €4,500
Total Trade: 12 trades
Markets.com Review
Vantage FXDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
ThinkMarketsDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
GO MarketsDeposit Amount: Over €4,500
Total Trade: 12 trades
GO Markets Review
FortradeDeposit Amount: Over €5,000
Total Trade: 12 trades
Fortrade Review
ICM CapitalDeposit Amount: Over €5,000
Total Trade: 12 trades
ICM Capital Review
INFINOXDeposit Amount: Over €4,000
Total Trade: 9 trades
INFINOX Review
Capital.comDeposit Amount: Over €3,500
Total Trade: 15 trades
Capital.com Review
DarwinexDeposit Amount: Over €5,000
Total Trade: 12 trades
Darwinex Review
Amana CapitalDeposit Amount: Over €5,000
Total Trade: 12 trades
Amana Capital Review
XTBDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
FXTMDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
TickmillDeposit Amount: Over €8,000
Total Trade: 12 trades
Tickmill Review
Trading 212Deposit Amount: Over €5,500
Total Trade: 15 trades
Trading 212 Review

FAQ and More on Forex Trading in Belgium

There are often a lot of questions related to trading in Belgium. We tried to pick and answer some of the most important queries related to the brokers available in the country.

How to Verify Belgium Regulated Broker

In Belgium, traders should make sure that the broker is ESMA compliant. This can be checked out on the ESMA website, also, by contacting one of the two regulators- FSMA or CySEC (Cyprus).

You can always check the broker on the FSMA website, and type the name of the broker on the search bar. You can also search for the information on the broker’s official website. It is advisable to double-check the information before signing with the broker.

Belgium - FSMA website

Trading Gold Forex Belgium

The gold market offers high liquidity and excellent opportunities to profit in nearly all environments due to its unique position within the world’s economic systems.

The MetaTrader 4 platform is where you can trade gold, but many brokers offer this service on their own proprietary platforms, too. Based on our test we have selected two forex brokers Belgium for trading gold.

  • AvaTrade
  • FXTM

Tax in Belgium for Forex Trading

Forex trading is taxable in Belgium. However, as it is mostly available to professional traders, the taxing field is a bit complicated. Generally, taxes are applied to gains that exceed 20K annually. 

For additional information, traders should contact the local authorities. Anyway, traders are responsible for submitting a tax form to the relevant institutions in the country to avoid any complications.  

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Best High Leverage Forex Brokers India 2022

For this Best High Leverage Forex Brokers India article, we reviewed and tested 5 high leverage forex brokers operating within the country. We opened real accounts with each broker and deposited between $4000-$8000 and placed live trades into the popular instruments to determine spreads.

Also, we reached out to each broker’s customer support to address the issues we had encountered. Finally we withdrew some of our funds to make sure that the withdrawal process is smooth.

We have chosen the best high leverage forex brokers in India based on the trading data we gathered and our experience as traders.

High Leverage in Forex

In the Forex market, leverage is a crucial aspect of investing that allows traders to multiply their income by using borrowed capital from forex brokers as their funding source. This borrowed capital needed for deposit in leveraged trading is called margin. Simply put, you need margin to create leverage. Leverage is presented as a ratio between the amount of money you own and the amount of money you can trade. Let’s assume you intend to buy a position worth $50,000, with 50:1 leverage you will need $1,000. Find out more about the definition of leverage on Wikipedia.

Leverage can result in an increase in return on investment by trading larger positions, yet it is a double-edged sword that can lead to magnified losses as well. Hence, it is advised to choose proper leverage based on the amount of money you want to trade and the financial instrument you trade with. New traders should get acquainted with trading techniques and evaluate the potential risks before leveraging.

Leverage LevelMargin Required
🏅 50:12%
🥉 100:11%
🥈 200:10.5%
🥇 400:10.25%

Indian Forex Broker with High Leverage

Normally Indian Brokers are international entities that fall under particular regulations the broker is registered. Since the world authorities now restrict high leverage, the options to access high leverage are limited. There are a few ways how traders can access high leverage:

  • become a professional trader, prove the status, and claim high leverage from the broker
  • open account under a broker who still offers high leverage, like brokers from Switzerland (FINMA) and New Zealand (FMA), if available for the traders from India
  • open account under an offshore broker, the majority of them offer high leverage but are not recommended due to high risks and lack of regulations

Best Brokers with High Leverage in India

To select the best high leverage forex brokers India, we reviewed several high leverage brokers in India. We opened live accounts and deposited real money with each broker, also place real trades in popular market instruments to get the full picture of spreads, commissions, trading platforms, deposit and withdrawal conditions, education as well as customer support.

  • IG Markets – Best Overall High Leverage Broker India
  • Interactive Brokers – Best Commodity Broker with High Leverage in India
  • FP Markets – Best High Leverage Trading Platform in India
  • Swissquote – Best High Leverage Broker for Beginners India
  • BlackBull Markets – Best Broker with Low Spread and High Leverage

Traders need to make sure they are opening accounts under the right regulatory entity. If you want high leverage, then it’s important that your broker is properly regulated and licensed in accordance with applicable law across all jurisdictions where its services will be utilized.

Best Overall Brokers in India with High Leverage

We have handpicked IG Markets as the overall best high leverage forex broker in India.

IG Markets is headquartered in London, UK, and regulated by FINMA. The Broker offers a wide range of markets to trade with including forex, indices, commodities, shares, cryptocurrencies, etc. It also offers extensive and in-depth educational materials on both the forex market and trading, as well as a demo account that traders can use to learn before opening a real account and starting to invest.

Under the FINMA regulator, IG Markets offers a 200:1 leverage level on most forex pairs to its clients. Traders outside of this jurisdiction can use high leverage under IG offshore branch, but we do not recommend offshore entities since they bear downside risks.

Best Forex Broker with High Leverage for Beginners India

We have chosen Swissquote as the best high leverage forex broker for beginners in India.

Swissquote Group Holding Ltd is headquartered in Gland (VD) with offices in Zürich, Bern, Dubai, Malta, Hong Kong, and London. The broker is suitable for beginners since it gives a comprehensive understanding of high leverage trading by offering exceptional in-depth educational materials. It offers a wide range of courses, video guidelines, webinars, and articles on the forex industry. Also, traders can open a demo account before opening the real account itself to test their strategies in order to minimize the risks of losing their hard-earned money.

The broker offers a 100:1 leverage level under the FINMA entity which is a good level to begin with.

Best Commodity Broker with High Leverage India

We have picked Interactive Brokers as the best commodity broker with high leverage in India.

Interactive Brokers was founded in 1977, in Greenwich, USA.  It is a well-regulated broker and is licensed by SEBI. It is popular with its wide range of market instruments such as forex pairs, CFDs, stocks, cryptocurrencies, and commodities. Interactive Brokers offers the best high leverage conditions on the commodity market for its Indian clients; however, you need to be a professional trader in order to get access to high leverage levels.

To learn more about SEBI proceed to the SEBI website, or follow them on Twitter.

Best High Leverage Trading Platform in India

We have chosen FP Market as the best high leverage trading platform in India.

FP Markets, also known as First Prudential Markets, is a high leverage broker headquartered in Australia, in 2005. The broker offers trading with forex, indices, stock, commodities, and cryptocurrencies.

FP Markets has specifically designed their PRO Account to allow high leverage trading up to 500:1. The broker offers high leverage traders to open their accounts on popular MetaTrader4 and MetaTrader5 platforms. Both platforms offer trading services on desktop, web, and mobile.

Best Broker with Low Spread and High Leverage India

We have picked BlackBull as the Best Broker with Low Spreads and High Leverage in India.

BlackBull Markets is headquartered in New Zealand. The broker offers over 200 trading instruments on forex, stocks, indices, and commodities markets. All BlackBull Markets’ spreads are below the industry average on most of the market instruments with zero commissions charged.

BlackBull offers a 500:1 leverage level under the FMA entity.

Top 100 Regulated Forex Brokers with High Leverage

Many regulators across the globe are restricting high leverage levels, normally brokers offering high leverage fall under international regulators. There are some offshore entities that allow high leverage but we do not recommend using them because of the high risks. Apart from the above-mentioned shortlist of high leverage forex brokers India here is a complete list of forex brokers offering high leverage that we have reviewed.

Forex BrokerFINMA RegulatedFMA RegulatedVisit Broker
IG MarketsYesYesIG Markets Website
Interactive BrokersNoYesInteractive Brokers Website
BlackBull MarketsNoYes BlackBull Markets Review
CMC MarketsNoYesCMC Markets Review
SwissquoteYesNoVisit Swissquote
DukascopyYes NoDukascopy Review
Saxo MarketsYesNoSaxo Markets Website

FAQ and More on High Leverage Brokers in India

Traders often raise questions on trading-related topics. Hence, we tried to find and answer some of the most important queries associated with Indian forex brokers offering high leverage trading.

High Leverage Crypto Brokers in India

In terms of trading cryptocurrencies, most brokers in India offer Crypto CFDs trading. These are not real trades but rather speculation on their price movements and high leverage crypto exchange can be accessed if a trader opens an account with Swissquote and BlackBull brokers under FINMA/FMA regulations. Offshore regulators will also provide high leverage crypto exchange but we do not recommend them since they may come at greater risk due to fraud.

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Best Brokers Luxemburg 2022

To come up with this list, we have tested over 20 forex brokers Luxemburg.

We opened a real account and deposited between $4,000 and $6,000 with each broker. Then, to get the actual picture we placed real trades in each popular market. 

We also contacted the customer support to solve issues that we had encountered. At last, we withdrew our funds to check the withdrawal process.

We handpicked the best forex brokers Luxemburg based on our trading data and experience as a trader.

Is Forex Trading available in Luxemburg

Forex brokers Luxemburg are subject to rigorous supervision by the Commission de Surveillance du Secteur Financier (CSSF), which is an independent financial regulator overseeing all products and services. The agency has wide-ranging regulatory authority over non-banking sectors within its borders making it one powerful organization that can issue licenses or initiate investigations against member firms.

The Commission de Surveillance du Secteur Financier’s website is www.cssf.lu.

The CSSF is committed to promoting fairness and simplicity in the financial markets so as not only to protect clients from broker scams but also fraudulent activities.

Luxembourg is a highly attractive country for entrepreneurs and investors due to the many benefits it provides. The low tax rate of corporate income, as well as great privacy laws, make this EU member an excellent choice.

In recent years, there has been an increase in the popularity of Forex trading in the country. Some reputable brokers opened their offices in Luxemburg. However, Luxemburg is a part of the EU so all European Brokers and UK Brokers are available for Luxemburg clients. Traders are recommended to choose from Cyprus, Germany, or EU brokers with good reputation.

🏦RegulatorCommission de Surveillance du Secteur Financier (CSSF)
🛡️Is It safe to tradeYes
🔒Negative Balance ProtectionYes
💰Compensation SchemeYes

Best Forex Brokers in Luxemburg

When talking about the best brokers Luxemburg, traders should consider the fact that there are brokers based in the country falling under local regulation. However, as Luxemburg is a part of the EU,  there are also many reliable European brokers that accept traders from Luxemburg due to ESMA regulation rules.

Before choosing a broker, we recommend signing only with reliable brokers, as money safety in forex trading goes first. Also, it is essential to verify whether the broker supports the necessary payment methods. Another important point to pay attention to is the customer support of the broker. It is important to check if it offers services in the preferred language.

To select the best forex brokers in Luxemburg, we have tested and reviewed over 20 forex brokers. We opened a live account, deposited real money, and placed real trades with each broker. Our tests gave us an insight into the real spreads and commissions, trading platforms, deposit and withdrawal conditions, educational resources, and customer services. Based on them, we recommend choosing from Cyprus, Germany, or other EU brokers with a good reputation.

To be helpful, we have come up with the best forex brokers Luxemburg:

  • Markets.com
  • Admiral Markets
  • Trading 212
  • FxPro 
  • eToro

Best Forex Broker Luxemburg Overall

We picked Markets.com as the overall best forex broker Luxemburg. 

Founded in 2008, Markets.com is a global Forex and CFDs broker.  The broker is heavily licensed in the United Kingdom, Australia, Cyprus, South Africa, and the British Virgin Islands. The broker offers tradable instruments under the following categories: forex pairs, indices, stocks, commodities, and cryptocurrencies.

Most of the spreads charged by the broker are a little higher than industry benchmarks. As to the account types, the broker offers 5 main options: CFD, investment strategy builder, MT4 CFD, MT5 CFD, and share dealing accounts. Besides, Markets.com offers swap-free Islamic Accounts to its Muslim clients.

Deposits and withdrawals with Markets.com are fast and easy. The following payment methods are available: bank wires, credit and debit cards, and e-wallets such as Skrill, PayPal, and Neteller. The choice of trading platforms is also quite wide. Markets.com offers two proprietary trading platforms – Marketsx and Marketsi. Besides, traders preferring the popular MetaTrader 4 and MetaTrader 5 platforms, are still able to conduct their trades on one of the platforms.

Best Forex Brokers for Beginners in Luxemburg

We picked Admiral Markets as the best forex broker Luxemburg for beginners.

Admiral Markets is a global Forex and CFDs broker.  It was founded in 2001 and is based in Estonia. The broker is strictly regulated and holds licenses in Australia, the United Kingdom, Cyprus, and Estonia. Admiral Markets offers a great number of tradable instruments: Forex pairs, indices, stocks, commodities, and cryptocurrencies.

Admiral Markets offers 5 account types: Trade.MT4, Zero.MT4, Trade.MT5, Invest.MT5, and Zero.MT5. With the broker, traders have access to the popular MetaTrader 4 and MetaTrader 5 platforms.

We have picked Admiral Markets as the best forex broker Luxemburg for beginners, as its education section is really great, with quality materials. The broker has a great beginners course – Forex 101 that includes nine in-depth lessons designed for beginners. To gain access to the course, traders have to sign up for a free demo account first. 

Best MT4 Forex Broker in Luxemburg

We picked FxPro as the best MT4 broker in Luxemburg. 

FxPro is a UK forex broker. It was founded in 2006. FxPro offers CFDs across six trading instrument categories: forex, shares, spot indices, futures, spot metals, and spot energies. FxPro is heavily regulated with licenses in the United Kingdom, Cyprus, South Africa, and The Bahamas.

The broker has multiple accounts and all of them are based on the execution types and trading platforms. Based on our tests which we conducted on the FxPro MT4 and FxPro MT5 accounts, forex spreads are consistent, although spreads for indices and commodities tend to fluctuate. Stock spreads, on the other hand, are significantly lower than the industry average.

We have picked FxPro as the best MT4 forex broker Luxemburg because its MT4 trading platform is really good and offers the traders all the necessary features and favorable conditions for successful trading. Besides, FxPro also has a proprietary platform – FxPro (EDGE).

Best Low Spread Forex Broker Luxemburg

We picked Trading 212 as the best low spread forex broker Luxemburg.

When it comes to spreads, Trading 212 stands out for its low and consistent spreads. The spreads charged on forex and stock trades mostly linger around the industry average. Moreover, spreads for stock trades are much lower than the industry average.

Trading 212 offers 2 account types: the Invest and CFD accounts. The broker offers proprietary web and mobile trading platforms as the only trading platforms. It does not offer the popular MetaTrader 4 and MetaTrader 5 platforms. 

Luxemburg Forex Brokers List

Besides our best picks above, we also put together a complete list of 20 forex brokers available in Luxemburg.

Luxemburg Forex BrokerAbout Our TestOur Review
eToroDeposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review
Plus500Deposit Amount: Over €6,000
Total Trade: 18 trades
Plus500 Review
AXI (AxiTrader)Deposit Amount: Over €6,000
Total Trade: 12 trades
AXI Review
XMDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
Admiral MarketsDeposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
PepperstoneDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
Markets.comDeposit Amount: Over €4,500
Total Trade: 12 trades
Markets.com Review
Vantage FXDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
ThinkMarketsDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
GO MarketsDeposit Amount: Over €4,500
Total Trade: 12 trades
GO Markets Review
FortradeDeposit Amount: Over €5,000
Total Trade: 12 trades
Fortrade Review
ICM CapitalDeposit Amount: Over €5,000
Total Trade: 12 trades
ICM Capital Review
INFINOXDeposit Amount: Over €4,000
Total Trade: 9 trades
INFINOX Review
Capital.comDeposit Amount: Over €3,500
Total Trade: 15 trades
Capital.com Review
DarwinexDeposit Amount: Over €5,000
Total Trade: 12 trades
Darwinex Review
Amana CapitalDeposit Amount: Over €5,000
Total Trade: 12 trades
Amana Capital Review
XTBDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
FXTMDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
TickmillDeposit Amount: Over €8,000
Total Trade: 12 trades
Tickmill Review
Trading 212Deposit Amount: Over €5,500
Total Trade: 15 trades
Trading 212 Review

FAQ and More on Forex Trading in Luxemburg

Traders usually have many questions related to trading in Luxemburg. We tried to pick and answer some of the most important queries related to the brokers available in the country.

How to Verify Luxemburg Regulated Broker

The registration details of any broker can be checked on the ESMA’s website. ESMA is an independent European Union (EU) Authority that contributes to safeguarding the stability of the financial system by enhancing protection for investors and promoting stable, orderly markets.

In order to provide investment services and activities, a firm must first be authorized by an EU regulator. Brokers are authorized only when they comply with certain rules and requirements. Each country’s regulator keeps its own register of regulated firms. In Luxemburg forex brokers are overseen by the Commission de Surveillance du Secteur Financier (CSSF).

Besides, traders can always check the broker’s availability on its website. It’s always better to double-check any information, to avoid complications.

CSSF - official website

Forex Brokers with No Deposit Bonus in Luxemburg

No Deposit Bonus is one of the most popular marketing tactics used by forex brokers to attract new traders. A no-deposit bonus gives you free credit, which can be put toward any trade on their platform without having an initial deposit needed.

Many reputed brokers do not offer bonuses any longer. However, there are still reliable forex brokers with bonuses in Luxemburg.

Based on our tests, we have picked the following brokers in Luxemburg, offering no deposit bonus:

  • XM
  • Tickmill

Swap Free Forex Broker Luxemburg

Swap-free accounts offer traders services without fees. Swap-free accounts enable forex traders to take overnight positions on currency pairs without earning or paying interest. These types of accounts are acceptable for Islamic clients and are Halal. This is due to the no-commission trading. 

The brokers listed below offer Swap-free accounts in Luxemburg:

  • ThinkMarkets
  • Fortrade

Best Forex Broker for Scalping in Luxemburg

Scalping is the shortest time span when the traders take advantage of the small changes in currency prices. In scalping, it is very important to establish and liquidate a position within minutes or seconds. Scalping forex brokers allow scalping as a trading strategy.  Their number is growing rapidly.

Based on our tests, we selected scalping brokers available in Luxemburg:

  • FxPro
  • Pepperstone
  • Admiral Markets

High Leverage Forex Brokers

High leverage is available for professional or retail traders. They can open accounts with Swiss brokers such as Dukascopy. There are also many offshore brokers that offer high leverage, yet are not recommended due to the lack of reliability. Read also our article on the Best High Leverage Forex Brokers.

According to ESMA’s guidelines and limitations the maximum leverage offered to traders is 30:1. The maximum leverage up to 500:1 is available to only qualified professional traders.

ECN Forex Broker Luxemburg

ECN brokers provide traders with direct market access and do not take any positions against them. These firms offer raw spreads at low or tight prices, usually charging commissions as fees for their services.

We have picked several forex brokers Luxenburg that offer ECN accounts to traders.

  • Pepperstone
  • FXTM
  • AxiTrader
  • Admiral Markets

Tax in Luxemburg for Forex Trading

Luxembourg has been a popular tax haven for decades. More than 340 companies from around the world have set up subsidiaries in this small country and sought beneficial arrangements to relieve them of their taxes locally.

As to forex traders, it is important to fully understand the tax implications of trading forex before making the first trade. Generally, a rate of 20% WHT is applied to interest payments made by individuals who are subject to income tax. The deadline for submitting the tax return is March 31st of the following year. Generally, traders are responsible for submitting tax forms to the appropriate authorities.

When it comes to taxation, traders should keep in mind:

  • Traders should choose a tax situation before their first trade
  • They should keep clear records
  • Pay taxes without avoiding as avoidance may lead to greater fees

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Darwinex Review 2022

For this Darwinex review, we opened a live account and deposited over €5,000.

We traded the popular instrument in each market to determine the actual spreads and placed 12 trades in total.

We reached out to the broker’s customer service team to resolve the issues we faced.

Finally, we withdrew our funds to assess if the withdrawal process was smooth.

What is Darwinex

Darwinex is a global Forex and CFDs broker founded in 2012 as Tradeslide Trading Tech, a provider of trading technologies. Two years later, the company rebranded to Darwinex, an FCA-regulated Forex and CFD broker.

The broker is licensed in the United Kingdom by the Financial Conduct Authority (FCA).

Darwinex offers hundreds of instruments to traders in the following categories, Forex pairs, indices, stocks, and commodities.

The broker offers 287 tradable instruments, which is not a lot compared to some of its peers.

Here’s a summary of Darwinex’s main features:

🗺️ Authorised & Regulated inUK
🛡️ Is Darwinex safeYes
💰 EUR/USD Spread0.32
💳 Minimum depositUS$500
💰 Withdrawal fee1.2% for Card, 3.5€/£ for Trustly Bank Transfer, 1.2% for Skrill
🖥️ Trading PlatformMT4, MT5
📈 Markets offeredForex, Indices, Stocks, Commodities,
📉 Number of Products287

Licenses and Regulations

Darwinex is licensed by only one global regulator: the tier 1 UK Financial Conduct Authority (FCA), unlike most brokers who hold multiple licenses from different regulators.

Here are the details of Darwinex’s sole UK license.

Legal entityRegistered inRegulatorLicense NumberAccepting Clients FromCompensation Scheme Amount
Tradeslide Trading Tech LimitedUnited KingdomFinancial Conduct Authority (FCA)586466Globally many countries£85,000
Darwinex FCA (Financial Conduct Authority) Registration
Darwinex UK License

Is Darwinex Safe

Yes, Darwinex is safe to trade. The broker is regulated by the top-tier UK Financial Conduct Authority (FCA), which has strict rules and enforcement procedures.

The UK’s FCA guarantees investors’ deposit compensation of up to £85,000 if the broker declares bankruptcy. The broker has gone a step further to get free supplementary insurance covering eligible clients for up to £1,000,000.

For this review, we opened an MT5 Standard CFD account and an Mt5 standard stock account with Tradeslide Trading Tech Limited, regulated by the UK’s Financial Conduct Authority (FCA). We deposited funds into the account, placed trades, and finally withdrew our funds.

Given that the broker only operates the UK entity, any accounts you open with the broker will be under the entity regulated by the UK’s FCA, which offers deposit protection if the broker becomes insolvent.

Fees and Commissions

Darwinex charges low fees for trading most of the main instruments on offer, including Forex pairs, indices, and commodities.

However, the broker’s average spreads for trading stocks were much higher than the industry benchmark.

The broker charges low spreads because it charges a commission on all trades, making its fees much higher than other brokers.

Spread Charged in our Trades

For our tests, we traded the most popular instrument in each market. We executed 3 trades for each instrument to get an accurate estimate of the average spread. We tested Darwinex’s MT5 Standard CFD and stock accounts, which charges a spread and commission on all instruments.

MarketsInstruments1st trade 2nd trade 3rd trade Avg. Spread
ForexEUR/USD0.30.30.350.32
IndicesFTSE 1000.70.70.70.70
StocksApple3.51.51.52.17
CommoditiesGold1.11.41.51.33

We executed all our trades via the MetaTrader 5 mobile app on our iPhone.

A deeper analysis of the spreads charged in our trades revealed that most of the spreads were lower than industry averages. But the broker’s fees were higher because of the additional commissions charged on each trade.

MarketsInstrumentsAvg. Spread ChargedIndustry Avg. Spread
ForexEUR/USD0.321.16
IndicesFTSE 1000.701.65
StocksApple2.171.75
CommoditiesGold1.333.53

Other fees

Darwinex does not charge other non-trading fees. However, investors pay a 1.2% annual commission on invested equity for using the broker’s copy-trading feature known as a DARWIN. Investors pay a 20% performance fee if they make money with a Darwin strategy, with strategy providers earning 15% and Darwinex taking the remaining 5%.

Darwinex Account Types

Darwinex offers only 1 account type. The account is known as the standard account and is offered on the MetaTrader 4 and MetaTrader 5 platforms.

Here are its features:

Standard Account
Trading PlatformsMetaTrader 4 & 5
Account CurrencyEUR/ GBP/ USD
Minimum Deposit$500
Commission2.5 USD per lot
Order ExecutionMarket Execution
SpreadFrom 0
Note

Darwinex does not offer (Swap-free) Islamic Accounts.

For our tests, we opened an MT5 standard CFD account and an MT5 standard stock account with Tradeslide Trading Tech Limited, which is regulated by the UK’s Financial Conduct Authority (FCA).

Account Opening

Darwinex account opening is fast and efficient. We completed the entire process digitally within 10 minutes.

Here are the 5 steps to opening a Darwinex account:

  1. Select your trading platform, choose a name for your account, your account currency and deposit amount.
  2. Enter your username, email and password and choose whether to open an individual or corporate live account.
  3. Provide your title, full name, date of birth, nationality, country of birth, phone number and your residential address, including postcode, City/Town, State/Province, Country of Residence.
  4. Enter your tax details, current employment status, the value of your savings and liquid investments, and how much you plan to invest.
  5. Do you have an account with another broker and how frequently did you trade in the past 3 years?
Darwinex Account Opening
Darwinex Account Opening

The registration process took only 10 minutes, and our trading account was approved in one working day.

We registered the account on 26 March 2022, and it was approved on 29 March 2022.

For this test, we opened the MT5 standard CFD account and an MT5 standard stock account.

Deposit and Withdrawal

Darwinex offers fast deposits and withdrawals. Traders can use bank transfers, credit and debit cards, and e-wallets such as Skrill and Trustly to deposit and withdraw funds from their accounts.

However, Darwinex charges a 0.5% fee on Skrill deposits and is one of the few brokers that charge a fee on deposits.

Darwinex Deposit Methods
Darwinex Deposit and Withdrawal Methods

Darwinex Minimum Deposit

Darwinex has a minimum deposit requirement of $/€/£ 500 on its live accounts. Traders should make the next deposits in multiples of 100, as the broker will reject other figures.

Deposit

Darwinex’s clients can deposit funds into their trading accounts via bank transfers, debit/credit cards, and e-wallets such as Skrill and Trustly.

Skrill deposits attract a 0.5% fee.

The table below shows the details of our deposits:

Payment MethodSubmitted DateFunded Account DateFunding TimeFeeBank Fee
Credit Card01 April 202201 April 2022Instant€0.00Zero
Skrill01 April 202201 April 2022Instant0.5%Zero

Darwinex processes debit/credit card deposits instantly, while Trustly payments are processed in 1 day. Bank transfers may take up to 3 days to appear in your trading account.

Withdrawal

Darwinex does not charge a fee on withdrawals but passes on all associated costs to its clients. Therefore, traders end up paying varying fees on their withdrawals, which was unexpected.

Most brokers charge a fixed fee on withdrawals instead of passing on the merchant fees to their clients.

Hence, each withdrawal at Darwinex attracts a different fee based on the amount withdrawn and the percentage fees charged by the payments company.

Darwinex allows traders to make withdrawals using the same payment methods available for deposits.

Payment MethodSubmitted DateFunds Released DateFunds Arrived DateWithdrawal TimeFeeNote
Credit card01 April 202201 April 202203 April 20222 working days1%32.41 EUR fee was charged
Credit Card04 April 202205 April 202206 April 20222 working days3.30%2 EUR fee was charged
Skrill04 April 202205 April 202205 April 20221 working day1%16.41 EUR fee was charged

We did not encounter any difficulties during the withdrawal process and received our funds within a maximum of two working days.

Markets and Products

Darwinex offers a variety of tradable instruments in the Forex, indices, stocks, and commodities markets.

Here’s the complete list of Darwinex’s product offerings:

MarketsInstruments
Forex40
Indices10
Stocks233
Commodities4
Cryptocurrencies0

The broker offers a limited number of instruments to its clients compared to the leading brokers.

Trading Conditions

The trading conditions at Darwinex are good. Traders can execute most trading strategies since the broker allows high-risk strategies such as hedging and scalping.

Traders can keep their hedging positions open for as long as they want. Darwinex also allows traders to use Expert Advisors (EAs).

Trading MethodAllowed
HedgingYes
ScalpingYes
Change LeverageNo

Traders cannot change their account’s leverage level after opening the account.

Darwinex Leverage

Darwinex clients have access to standard leverage levels in line with the European Securities and Markets Authority (ESMA) regulations regarding leverage levels offered to retail traders based in the EU.

However, professional traders can access higher trading leverage levels, but they lose out on ESMA protections.

The table below shows the different leverage levels available to clients:

MarketsTradeslide Trading Tech Ltd
Major currency pairs30:1
Non-major currency pairs20:1
Gold20:1
Other Commodities (except gold)10:1
Indices5:1
Stocks5:1
CryptocurrenciesN/A

Bonus

Darwinex does not offer a bonus program to its clients.

Trading Platform

Darwinex offers traders a proprietary FIX API trading platform developed by Darwinex Labs ( its Quant team) that is specifically used for copy trading. The API software is used for copy-trading DARWIN assets on the broker’s proprietary marketplace known as the DARWIN exchange.

Investors can use the DARWIN API to buy and sell winning strategies created by professional traders and hosted on the DARWIN exchange.

Darwinex MT4 MT5

The broker also offers the MetaTrader 4 and 5 platforms for traders who want to trade their independent strategies. The MT4 platform offers traders a wide range of analytical tools and indicators, while the MT5 has additional features that deliver a better trading experience.

Darwinex further offers tools for automated trading in the form of auxiliary libraries that can be added to the MetaTrader and DARWIN platforms. These tools include ZeroMQ to MetaTrader and Zorro to MetaTrader bridging solutions.

Darwinex Trading Platforms
Darwinex Trading Platforms

Traders who prefer to copy the strategies developed by professionals will be at home on the DARWIN proprietary marketplace, while self-directed traders have to use the MT4 and MT5 platforms.

We found the MT5 platform to be great for traders who prefer to trade the popular MetaTrader platforms.

Research and Tools

Darwinex provides its clients who use its copy-trading platforms excellent research tools to sift through the over 2000 strategies (Darwins) and find the ones that fit their investor profile.

Traders can use the broker’s marketplace to research the performance rankings of each Darwin based on criteria such as the Darwinex score (D-score) to identify the best performing strategies.

Darwinex provides little in the form of traditional market research for self-directed traders except for occasional news articles on its blog.

Darwinex Trading Tools
Darwinex Trading Tools

The broker also offers a community forum where traders can discuss trending topics and learn from each other.

Education

Darwinex offers minimal education in the form of training videos and tutorials. These are found within its proprietary trading platform.

Darwinex Educational Material
Darwinex Video Tutorials

Customer Service

Darwinex’s customer service team was helpful and gave us direct answers to our questions. However, the broker does not offer support via live chat, unlike most brokers.

Darwinex Customer Support
Darwinex Customer Service

You can reach Darwinex’s customer service team via email. The customer service team answered our email query within 10 hours, which was okay.

Here are the results of our test below:

QuestionResponse TimeQuality of reply
Live chatN/AN/AN/A
EmailWe asked for general information about our account (minimum deposit, available currencies, execution type) bonus offers, leverage changes, hedging and scalpingWe received feedback within 10 hours. The first reply was a link to their website containing the account information. We then asked about the minimum deposit, available currencies and order execution types and got a detailed answer.

Conclusion

In summary, we had a positive experience with Darwinex starting from the account opening to the deposit, trading and withdrawal processes.

We had to open an MT5 standard CFD account and an MT5 stock account to get access to Forex pairs and stock CFDs, which were limited in number. The broker charges low fees on Forex, indices and commodities trades, while its fees for stock trades were higher than industry averages.

Darwinex offers instant deposits and a user-friendly client portal. However, Skrill deposits attract a 0.5% fee, hence, we recommend traders use credit/debit cards to deposit.

The broker passes on the fees charged by payment processors to its clients when processing withdrawals. Therefore, card withdrawals attract a 1.2% fee, Trustly bank transfers attract a €/£3.5 fee, while Skrill withdrawals attract a 1.2% fee.

Darwinex does not offer support via live chat, which is inconvenient when one needs a quick reply to a query. The broker’s email responses were not as fast as some of its peers.

We recommend Darwinex to traders who want to copy strategies developed by other successful traders. Traders who run scalping, hedging and automated strategies will also feel at home with this broker.

We recommend Darwinex for traders who are

  • Experienced traders
  • Run Scalping
  • Hedging
  • EAs trading
  • Copy Trading
  • Trading through MT4

Darwinex might not be a fit if you are

  • Beginners
  • Real Stock / Futures Trading
  • Commission based trading
  • Looking for wide instrument range
  • Prefer other platforms rather than MT4

Categories
Uncategorized

RoboForex RoboMarkets Review 2022

For this RoboMarkets review, we have opened a standard account with the broker and deposited €5,000.

We traded the popular instrument in each market to get the real spreads and placed a total of 12 trades.

We also reached out to customer support to solve the issues we faced.

Finally, we withdrew our funds to see if there are any issues with the withdrawal process.

What is RoboMarkets

RoboMarkets, which also operates as the brand RoboForex, is a forex and contracts for differences (CFDs) broker, headquartered in Cyprus.

The broker has multiple regional offices and is regulated in Cyprus, Belarus, and Belize.

RoboMarkets is a multiasset broker with offerings that include forex, stocks, indices, and commodities.

Some of the highlights of RoboMarkets are:

🗺️ Authorised & Regulated inCyprus, Belize, Belarus
🛡️ Is RoboMarkets safeYes
💰 EUR/USD Spread1.68
💳 Minimum deposit$100
💰 Withdrawal feeDepends on the payment method
🖥️ Trading PlatformMT4, MT5, R Trader
📈 Markets offeredForex, Indices, Stocks, Commodities
📉 Number of Products107 (depends on the jurisdiction)

Licenses and Regulations

RoboMarkets holds 3 regulatory licenses.

The broker is regulated in Cyprus, Belarus, and Belize.

The full list of RoboMarkets licenses is below:

Legal entityRegistered inRegulatorLicense numberAccepting clients fromCompensation scheme amount
RoboMarkets LtdCyprusCyprus Securities and Exchange Commission (CySEC)191/13European Union€20,000
RoboForex LtdBelizeFinancial Services Commission (FSC)000138/107GlobalNo compensation scheme
RoboMarkets, LLCBelarusNational Bank of the Republic of Belarus (NBRB)193179482GlobalNo compensation scheme
RoboMarkets CySEC (Cyprus Securities and Exchange Commission) Registration
RoboMarkets CySEC License

Is RoboMarkets Safe

Yes, RoboMarkets is a safe broker.

The broker is regulated in three jurisdictions, three of which are in Europe. The clients under the CySEC-regulated entity also receive a compensation scheme of €20,000 for the protection of their funds.

For our tests, we opened an MT5 pro account and another R Trader account with RoboMarkets Ltd, which is regulated by Cyprus Securities and Exchange Commission (CySEC) in Cyprus

Fees and Commissions

RoboMarkets fees are usually built into spreads. But higher-tier accounts charge commission too.

Spreads on our forex trades were a bit higher than the industry average benchmark. However, spreads charged for other asset classes were significantly lower.

RoboForex Spread Charged in Our Trades

For our tests, we have chosen popular instruments in each market. We placed 3 trades for each instrument to get a picture of the average spread.

Spreads for our trades varied but remained within a reasonable bound.

Details of our trades are shown below the table.

MarketsInstruments1st trade2nd trade3rd tradeAvg. spread
ForexEUR/USD1.61.91.551.68
IndicesFTSE 1000.750.7510.83
StocksApple0.70.70.70.7
CommoditiesGold3.23.053.13.12

Our testing finds that forex spreads on RoboMarkets are around the industry average or a bit higher. Spreads on indices and gold are on the lower side.

RoboMarkets charges commission on shares CFDs with zero spread.

MarketsInstrumentsAvg. spread charged in our tradesIndustry avg. spread
ForexEUR/USD1.681.16
IndicesFTSE 1000.831.65
StocksApple0.71.75
CommoditiesGold3.123.53

Other Fees

RoboMarkets does not charge any fee for deposits, but there are fees for most of the withdrawals.

Withdrawal fee of some of the most used withdrawal methods:

  • Rapid Transfer – 1%
  • Credit/Debit Card – 2.4%
  • Bank Transfer – 25 USD, 10 EUR, 20 GBP, 150 PLN, 75 CHF
  • WebMoney – 0.8%
  • Skrill – 1%
  • FasaPay – 0.5%
  • Neteller – 1.9%
  • PayPal – 2%

The broker does not have any inactivity or account maintenance fees.

Account Types

RoboMarkets offers five types of accounts to retail traders

Pro AccountProCent AccountPrime AccountECN AccountR Trader Account
Trading PlatformsMetaTrader 4, MetaTrader 5, R TraderMetaTrader 4, MetaTrader 5, R TraderMetaTrader 4, MetaTrader 5, R TraderMetaTrader 4, MetaTrader 5, R TraderMetaTrader 4, MetaTrader 5, R Trader
Account CurrencyUSD, GBP, EUR, CHF, GOLDUSD, GBP, EUR, CHF, GOLDUSD, GBP, EUR, CHF, GOLDUSD, GBP, EUR, CHF, GOLDUSD, GBP, EUR, CHF, CZK
Minimum deposit$100$100$100$100$100
CommissionNoneNone10 / mio20 / mioUS Stocks (Deposit from 10,000 USD) 0.02 USD per share, US Stocks 0.0045 USD per share. CFD on US stocks 0.015 USD per share, CFD on EU stocks 0.07%, Forex 15 USD per 1 million base currency, Indices variable commission
Order executionMarket ExecutionMarket ExecutionMarket ExecutionMarket ExecutionMarket Execution
SpreadFrom 1.3From 1.3From 0From 0From 0

RoboMarkets also offers swap-free Islamic accounts and professionals accounts.

Account Opening

Our overall experience of opening a new account with RoboMarkets was smooth and quick.

We opened an MT5 pro account and an R Trader account for our tests under the Cyprus-regulated entity.

The process of registration of a new RoboMarkets account:

  1. Enter email, first name, last name, mobile number
  2. Enter desired trading platform, account type, hedge system, currency, leverage, and affiliate code
  3. Answer a few questions on profession and trading experience
  4. Provide a few details on the financial situation and risk appetite

For our identity verification we have to provide the following details:

  1. Enter name, surname, gender, and date of birth
  2. Declare if we are politically exposed
  3. Declare if we are a reportable entity under FATCA
  4. Provide national id or passport number, issuing authority, and issuing date

We submitted the following documents to verify our RoboMarkets account:

  1. Copy of national identification (both front and back)
  2. Copy of passport

The registration process took around 23 minutesOur account was verified on the same day.

Our account was registered on April 2, 2022, and approved on the same day.

Our overall account opening experience was smooth and without any issues from registration to verification.

RoboMarkets Account Opening
RoboMarkets Account Opening

Deposit and Withdrawal

Deposits and withdrawals on RoboMarkets are easy and fast.

The broker, however, charges fees on most of the withdrawal methods.

RoboForex Minimum Deposit

RoboMarkets has a minimum deposit requirement of $100 for all account types.

Robo Markets Deposit

RoboMarkets allows deposits using bank transfers, credit and debit cards, and several top online wallets like PayPal, Skrill, and Neteller.

We tested the deposit process on RoboMarkets using a credit card, PayPal, Skrill, and Neteller.

Details of our fund deposits are shown in the below table.

Payment MethodSubmitted DateFunded Account DateFunding TimeFee
Credit card2022-04-032022-04-03Instant0
Neteller2022-04-032022-04-03Instant0
Skrill2022-04-032022-04-03Instant0
PayPal2022-04-032022-04-03Instant0
RoboMarkets Deposit Methods
RoboMarkets Deposit and Withdrawals

Withdrawal

RoboMarkets allows withdrawals with bank transfers, credit and debit cards, and other methods that are supported for deposits.

Overall, our experience with the RoboMarkets withdrawal process was positive.

Details of our withdrawal requests are in the table below.

Payment MethodSubmitted DateFund Released DateFund Arrived DateWithdrawal TimeFee
Credit card2022-04-042022-04-042022-04-051 working days0
Neteller2022-04-042022-04-042022-04-046 hours2%
Skrill2022-04-042022-04-042022-04-043 hours1%
PayPal2022-04-042022-04-042022-04-043 hours0.35%

Markets and Products

RoboMarkets offers CFDs trading services with forex, indices, stocks, and commodities.

The complete list of RoboMarkets offerings are:

MarketsInstruments
Forex36
Indices7
Stocks53
Commodities11

The markets and the number of offered instruments will depend on the account jurisdiction.

Trading Conditions

RoboMarkets offers excellent trading conditions. The broker allows hedging and scalping strategies and traders can change leverage levels as well.

Trading MethodAllowed
HedgingYes
ScalpingYes
Change LeverageYes

Leverage

Leverages offered by the various entities of RoboMarkets are detailed below:

MarketsRoboMarkets LtdRoboForex LtdRoboMarkets, LLC
Major Currency Pairs30:1888:1100:1
Non-Major Currency Pairs20:1200:1100:1
Gold20:1888:1100:1
Other Commodities (except Gold)10:125:1100:1
Indices5:1100:1100:1
Stocks5:110:15:1
CryptocurrenciesNANA5:1

Trading Platform

RoboMarkets offers the three trading platforms:

  • R Trader (the brokers proprietary platform)
  • MetaTrader 4
  • MetaTrader 5

RoboForex MT4

MetaTrader 4 platform and MetaTrader 5 platform are developed by MetaQuotes Software and are used extensively within the trading industry.

We executed our trades on the MetaTrader 5 and R Trader trading platform.

RoboMarkets Trading Platform
RoboForex R Trader Platform

Copy Trading

RoboMarkets offers copy trading services with its service called CopyFX.

RoboMarkets Copy Trading Servicies
RoboForex CopyFX

Bonus

RoboMarkets offers several bonus programs under its various entities.

Cashback (Rebates)

Account typeAll account types
Client typeProfessional
Minimum trading volume10 lots
EntityRoboMarkets Ltd

Details of payout:

Account typeCalculation method 10 – 1,000 lots1,000 – 3,000 lotsMore than 3,000 lots
Cent, Pro, ECN% of the company’s revenue5%10%15%
Prime% of commission5%7%10%

Classic Bonus up to 120%

Account typeMetaTrader4 and MetaTrader5-based accounts (ECN, ContestFX, and CopyFX accounts do not participate in the program)
Client typeProfessional
Bonus option Client can choose the bonus amount: 25%, 50%, 100% or 120%.
Maximum payoutUp to 50,000 USD / 50,000 EUR / 325,000 CNY / 39,000 GOLD
Restrictions“Classic bonus” bonus program is not available to the clients from Malaysia.
EntityRoboMarkets Ltd

Up to 10% of Extra Funds

Account typeAll MetaTrader4 and MetaTrader5 real accounts, including ECN, Prime, CopyFX, and affiliate accounts
Client typeProfessional
EntityRoboMarkets Ltd

Trading details:

Trading lots1-10 lots1-1,000 lotsMore than 1,000
Payout2.5%10%10%

Welcome Bonus $30

Account typeMetaTrader 4/5 accounts with USD or EUR as the base currency: ProCent, Pro (not including ContestFX).
Requirement1. Pass the personal information, which consists of two required steps – the passport verification and the address verification.
2. Verify your mobile phone number.
3. Deposit at least 10 USD / 10 EUR / 60 CNY to the trading account using the bank card (only deposits made through China UnionPay, Maestro, MasterCard, and VISA cards are valid. Deposits made by means of virtual cards issued by payment systems, as well as prepaid cards are not taken into account).
RestrictionsWelcome Bonus is only available for the accounts with the leverage up to and including 1:1000 (the participants of the offer can’t increase their account leverage).
EntityRoboForex Ltd

60% Profit Share Bonus

Account typeMetaTrader4/MetaTrader5-based cent or standard accounts (ECN accounts do not participate in the program)
Maximum payoutThe total amount of Profit Share bonuses on a single account (depending on the account currency) is up to 10,000 USD / 10,000 EUR / 65,000 CNY / 7,800 GOLD. The maximum amount of Profit Share bonuses on all accounts (depending on the account currency) owned by the same client is up to 20,000 USD / 20,000 EUR / 130,000 CNY / 15,600 GOLD.
Requirement1. When the Client deposits his account, the deposited sum is added to the Client’s own funds. The amount of Profit Share bonus makes a new share, which will be taken into account separately before the bonus is canceled or the requirements for the trading volume are fulfilled.
2. When the Client withdraws funds, the sum he withdraws is deducted from the Client’s own funds.
3. After the Client fulfills the requirements for the trading volume, the amount of the bonus funds is added to the Client’s own funds.
RestrictionsWelcome Bonus is only available for the accounts with the leverage up to and including 1:1000 (the participants of the offer can’t increase their account leverage).
EntityRoboForex Ltd

Classic Bonus up to 120%

Account typeMetaTrader4/MetaTrader5-based cent or standard accounts
Bonus optionsClient can choose the bonus amount: 25%, 50%, 100% or 120%.
Maximum payoutUp to 50,000 USD / 50,000 EUR / 325,000 CNY / 39,000 GOLD
Restrictions“Classic bonus” bonus program is not available to the clients from Malaysia.
EntityRoboForex Ltd

Cashback (Rebates)

Account typeAll Account Types
Minimum trading volume10 lots
EntityRoboForex Ltd
Account typeCalculation method 10 – 1,000 lots1,000 – 3,000 lotsMore than 3,000 lots
Cent, Pro, ECN% of the company’s revenue5%10%15%
Prime% of commission5%7%10%

Up to 10% of Extra Funds

Account typeAll MetaTrader4 and MetaTrader5 real accounts, including ECN, Prime, CopyFX, and affiliate accounts can participate in the program
EntityRoboForex Ltd

Trading details:

Trading lots1-10 lots1-1,000 lotsMore than 1,000
Payout2.5%10%10%
RoboMarkets Bonus
RoboForex Bonus

Research and Tools

RoboMarkets offers decent tools for market research and analysis.

Tools offered by the broker include:

  • Impressive charting tools
  • Economic calendar
  • Currency analysis and forecasts 
  • Trading ideas
  • Remote VPS servers
  • Newsfeed
RoboMarkets Analytics Tools
RoboForex Market Analysis

Education

RoboMarkets offers decent educational resources.

The broker’s educational materials only include:

RoboMarkets Educational Material
RoboMarkets Forex Courses

Robo Forex Customer Service

RoboMarkets offers excellent customer support.

Traders can contact the broker via:

  • Live chat
  • Email
  • Phone

The support staff is available 24/7.

Our experience with RoboMarkets customer support was mixed.

QuestionResponse TimeQuality of reply
Live ChatWe asked if our trading account is fully approved, do they charge any deposit&withdraw fees, or what are the deposit method3 minuteClear and accurate
Live ChatWe asked as we can see they have 4 options for depositing via card(VISA/MasterCard ‎CardPay/Connectum/BlueOrange Bank/Ecommpay), which one should we choose.1 minuteClear and accurate
EmailAsked if we are allowed to trade UK100 and Crypto in our trading account.3 minuteClear and accurate
EmailAsked if RoboForex allow hedging scalping and change of leverage2 hoursClear and accurate
RoboMarkets Customer Support
RoboForex Customer Support

The broker also has a detailed FAQ section for frequently faced issues.

Conclusion

Our overall experience with RoboMarkets was positive.

The spreads charged on our forex trades were around the industry average. Order execution speed was fast. Spreads on other asset classes were mostly impressive.

RoboMarkets allows hedging and scalping. Traders can also change the leverage levels. There are also no restrictions on trading.

The broker does not charge fees for deposits, but there are withdrawal fees. The customer support was also good and most of the responses were clear and detailed.

We recommend RoboMarkets to forex traders who run EA and other trading strategies.

We recommend RoboMarkets for traders who are

  • Experienced traders
  • Run Scalping
  • Hedging
  • EAs trading
  • Trading through MT4 or MT5
  • Looking fr good tools

RoboMarkets might not be a fit if you are

  • Real Stock / Futures Trading
  • Very Beginners in Trading
  • Commission based trading