TRADEFXP

About company:

TradeFxP offers trading in currencies, indices, CFDs and commodities.

 

About company. Fund security

TradeFxP is a Forex broker based in the UK but not regulated by the country's main supervisory authority FCA. According to Companies House (the executive body of the UK Department of Trade and Industry), the broker was listed in October 2015 with a capital of £ 1. The latest filing with Companies House shows that the capital of the company is still £ 1. It is strange that a broker can work with capital of as little as £ 1. However, it is now clear why TradeFxP is not licensed by the FCA. All controlled companies must have a capital of at least £ 730,000.

 

There are many unregulated brokers out there, but keep in mind that even those who claim to be in the UK are not necessarily under FCA control. This means that they may not adhere to the rules of the regulator: keeping customer funds in segregated accounts. And often the clients of such companies lose their money when the company goes bankrupt. We recommend that you do business with trusted companies that you can find in our rating.

 

Trading conditions

TradeFxP has three types of active trading accounts: Mini, Standard and ECN. There is also a free demo account for test trading, but we were unable to open an account despite our efforts.

 

Minimum deposit

The minimum deposit you can get started with is $ 25. It is available on the Mini account. Since this account is used primarily for newbies, this is a great deal in the industry. If you consider yourself a professional trading, you can open a Standard ($ 250) or ECN ($ 500) account.

 

Spreads and commissions

Spreads also vary depending on the type of account: the highest value for a Standard account is 2.3 spread; on Mini - 2.1; and the most profitable application for an ECN account - 0.5 pips, where the client's transactions are directly transferred to liquidity providers.

 

Leverage

The suggested maximum leverage is 1: 1000. You can use it on a Standard Account. We advise to use leverage only for those traders who have already learned how to manage risks.

 

Trading platforms

TradeFxP offers the industry's most popular terminal, MetaTrader 4 (MT4), on desktop and mobile versions. Apparently, the broker does not provide the ability to trade from a web browser without downloading an application.

 

MT4 is widely used by brokers as it is stable, user-friendly. It has a lot of functionality: numerous options, tools, charts.

 

Promotions

TradeFxP offers a deposit bonus of up to 30%. You can also become a member of the affiliate program, for the clients brought in, the partner will receive interest from their trade.

 

Support service

You can ask your questions in live chat, by email, in the office. The broker also offers to contact specialists through social networks: facebook, twitter, linkedin. Strange, but the company does not offer a phone number for communication.

 

Ways of payment

TradeFxP accepts customer deposits via wire transfer, credit cards and electronic payment systems Neteller, Skrill, FasaPay and Trasuz. The advantage is that the broker provides the trader with the opportunity to choose between different methods. And we believe that the presented methods and systems are most in demand and will be convenient for most traders.

 

Pros:

 

small minimum deposit; MT4.

 

Minuses:

 

not regulated; the support service does not offer a phone number.