FXFlat Forex Trade Platform and Broker Review

FXFlat Forex Trade Platform and Broker Review

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FXFlat Broker Review

FXFlat is an award-winning provider of online trading in Forex and CFDs which has been in operation since 1997 and is based in Germany. FXFlat’s main services include the facilitation of trades in a variety of financial instruments spread across several asset classes.

FXFlat has 66 employees and is headquartered in Ratingen, Germany.

Is FXFlat Regulated?

Yes, FXFlat is regulated by the Federal Agency for Financial Services Supervision (BaFin) in Germany. FXFlat has been a securities trading bank since 2015 and by having BaFin regulation, FXFlat can offer its services outside of Germany to other EU countries through the MiFID II directive.

Client funds are kept in segregated accounts with top-tier German banks, separated from the broker’s operational capital. These accounts are audited periodically to ensure that there is compliance with all the relevant policies and procedures. 

Is FXFlat Regulated in the United States?

No, FXFlat is not regulated in Virginia or any other US state. 

Is FXFlat Regulated in Europe?

Yes, FXFlat is regulated in Europe by the Federal Agency for Financial Services Supervision (BaFin) in Germany. Through the MiFID II directive, FXFlat is permitted to offer financial services and solutions to other European Union countries.

Is FXFlat regulated in a Tier-1 Jurisdiction?

Brokers who have Tier-1 Jurisdiction have the necessary license to offer financial services and products to forex traders based in Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Israel, Japan, Luxembourg, Netherlands, New Zealand, Norway, Puerto Rico, Singapore, Sweden, and Switzerland.

According to the official FXFlat website, FXFlat is regulated in Tier-1 jurisdiction.

Is FXFlat regulated in Tier-2 Jurisdiction?

Tier-2 Jurisdiction grants brokers such as FXFlat with the license to offer financial services and operate in the British Virgin Islands, Cayman Islands, Cyprus, Italy, Malaysia, Mexico, Poland, Portugal, Spain, and Taiwan.

According to the official website, FXFlat is regulated in Tier-2 jurisdiction.

What are the Platforms and Tools for Forex Trading in FXFlat?

FXFlat offers comprehensive trading solutions and for this reason, FXFlat offers the use of powerful, sophisticated, and reliable trading platforms that can be used namely MetaTrader 4, MetaTrader 5, AgenaTrader, and Trader Workstation (TWS).

  1. MetaTrader 4 is the most widely used trading platform in the world, especially among forex traders who use FXFlat. MetaTrader 4 offers Forex traders with user-friendly, customizable options, real-time prices and charts, advanced charting capabilities, 30 technical indicators, 24 drawing tools, and nine time-frames.
  2. MetaTrader 5 has additional features which are added such as the MQL5 language, additional indicators, drawing tools, and time-frames. MetaTrader 5 is also user-friendly and offers robust solutions for all types of forex traders with FXFlat in addition to providing a multi-currency strategy tester for EAs, depth-of-market, and more.
  3. AgenaTrader is a professional trading platform that is designed for use by professional forex traders who make use of FXFlat. The platform supports a variety of brokers, multiple tradable financial instruments, and offers forex traders a variety of trading tools that can be used. There are several versions of the platform that forex traders can choose namely Mercury, which is free, Neptune for $59 per month, Andromeda for $99, and Galaxy for $149 per month.
  4. Trader Workstation (TWS) is a trading platform that was developed by professional forex traders to allow all kinds of forex traders, investors, and institutional clients the trade in a variety of products through FXFlat. There are a plethora of functions and options on the trading platform that adds a competitive edge to the trading strategies of many forex traders.

Does FXFlat Have a News Blog for Forex News?

No, FXFlat does not have a news blog for forex news on the official website.

Does FXFlat Have a Traders Dashboard?

No, FXFlat does not have a forex traders dashboard on the official website.

Does FXFlat Have an Educational Section?

No, FXFlat does not have an Educational Section on its official website. 

Is FXFlat Legit?

Yes, FXFlat is a legit Forex Broker and Trade Platform that is regulated and authorized by the reputable Financial Services Supervision (BaFin) in Germany. 

In addition to this, FXFlat is also authorized by the MiFID II directive to offer financial services to clients outside German in other EU countries.

Is FXFlat Safe?

Yes, FXFlat is a reliable and safe Forex Trade platform where stringent regulation, as well as various security and client fund safety, is concerned, directed by requirements of:

  • Financial Services Supervision (BaFin) in Germany

FXFlat keeps client funds, deposited into trading accounts, in segregated accounts with top-tier, trusted, reputable German banks. These funds are kept separate from FXFlat’s operational funds and are only used towards trading activities.

Is FXFlat a Good Broker?

Yes. According to the Forex Suggest review, FXFlat is a good broker where trading speed, security, online support, and cryptocurrency trading is concerned.

  1. FXFlat ensures that trades are executed at the best possible speeds by ensuring that only the best prices are sourced from top liquidity providers. In addition to this, FXFlat ensures minimal slippage and no requotes, aiding in providing forex traders with the best execution speeds.
  2. FXFlat ensures security by using Secure Socket Layer (SSL) to protect transactions, data, and information of clients on the website and when data is transferred between trading platforms and the website.
  3. In terms of online support, FXFlat offers forex traders helpful, prompt support through the live chat function which is available on the website 24 hours a day, 5 days a week.
  4. In terms of cryptocurrencies, FXFlat offers Bitcoin, Litecoin, Ripple, Bitcoin Cash, Dash Cash, and Ethereum as forex CFDs.

What is the Offering of Investment in FXFlat?

Offerings of FXFlat can be found below.

Feature FXFlat
Forex Trading Yes
CFDs Yes
Forex Pairs Yes
Cryptocurrency (Physical) No
Cryptocurrency (CFD) Yes
Social Trading  No

Does FXFlat have Nasdaq?

Nasdaq is the second-largest stock exchange in the United States according to market capitalization and it tracks the top technology stocks in the US.

As a Nasdaq owner, FXFlat offers Nasdaq CFDs and Futures.

What are the Awards of FXFlat?

Forex Trading Platform FXFlat’s awards are listed below.

  1. Best Customer Service (2013) – Euro am Sonntag.
  2. Best CFD Broker (2013) – German Investor Fair.
  3. Best CFD Broker (2012).

How to Use FXFlat for Forex trading?

To use FXFlat, a forex trader should have the necessities below:

  1. Forex traders must have a valid ID and proof of their residential address.
  2. Forex traders must be 18 years or older.
  3. Forex traders must be able to afford the €200 minimum deposit.

Once a forex trader meets the conditions above, they can register a forex trading account to use the services of FXFlat.

How to open a Forex trader account with FXFlat?

To open a Forex Trading account with FXFlat, a trader should follow the steps below.

  1. Forex traders can navigate to the official FXFlat website and choose between opening a MetaTrader or a Trader Workstation Account.
  2. Forex traders must complete the application form by providing their basic information, their trading platform (MetaTrader 4, MetaTrader 5, or AgenaTrader), the extension they wish to add to their platform, and whether they wish to make the €200 now, or later.
  3. The next section requires more in-depth personal information along with the trader’s physical address information, tax information, whether they are a private or professional client, and their employment information.
  4. Forex traders must select and answer three security questions and proceed to the section requiring financial information such as trading experience and their reference account.
  5. Once forex traders have completed the application, they will be required to upload their ID and proof of residence so that their identity can be verified and confirmed.

What are the Forex Trader Account Types with FXFlat?

Forex Trading Platform and Financial Asset Management Institution FXFlat has 5 different account types that are offered.

FXFlat Account Types are listed below. 

  1. Demo Account

  2. Standard MetaTrader Account

  3. Professional Classic MetaTrader Account

  4. Professional Plus MetaTrader Account

  5. Trader WorkStation Live Account

  • Demo Account

FXFlat offers forex traders the option of a demo account, or paper account, which can be used in a variety of ways. Demo accounts are perfect for beginner forex traders who are starting out, allowing them to practice their trading before they move on to open a live trading account.

It can also be used by more advanced forex traders who want to test their trading strategies in a risk-free environment. It can also be used to explore what FXFlat has to offer.

  • Standard MetaTrader Account

The FXFlat Standard MetaTrader Account caters to forex traders who wish to use either the MetaTrader 4, MetaTrader 5, or the AgenaTrader platform through which to trade. This account caters to both beginner and expert forex traders and offers competitive trading conditions.

The features on the Standard MetaTrader Account are as follows:

  • Minimum deposit from 200 EUR.
  • Leverage that ranges from 1:2 on Crypto CFDs up to a maximum of 1:30 on forex major pairs (as per ESMA requirements).
  • Normal weekend margin and margin close-out of 100%.
  • Negative balance protection is automatically applied to the account.
  • The option of using the StereoTrader and MetaTrader plus extensions.
  • Taxation is a monthly settlement of the final withholding tax which is applicable to tax residents in Germany.
  • Free Account management and payment transactions.
  • Access to CFDs, spot forex, and futures.
  • Spreads that start from 0.9 on EUR/USD and 1 pip on US30 Index.

 

  • Professional  Classic MetaTrader Account

The FXFlat Professional MetaTrader Account is designed for professional clients who need the best trading conditions, options, and tools that are offered.

The features on the Professional Classic MetaTrader Account are as follows:

  • No minimum deposit requirement.
  • Leverage from 1:135 up to 1:200 on forex and metals.
  • Normal weekend margin and margin close-out of 100%.
  • The option of using the StereoTrader and MetaTrader plus extensions.
  • Taxation is a monthly settlement of the final withholding tax which is applicable to tax residents in Germany.
  • Free Account management and payment transactions.
  • Access to CFDs, spot forex, and futures.
  • Spreads that start from 0.9 on EUR/USD and 1 pip on US30 Index.
  • Additional contributions are charged on this account.

 

  • Professional Plus MetaTrader Account

The FXFlat Professional Plus MetaTrader Account offers professional forex traders with additional benefits such as negative balance protection, flexible minimum deposit, and more. Other features on this account include:

  • Minimum deposit from €200 up to €100,000.
  • Leverage from 1:135 up to 1:200 on forex and metals.
  • Normal weekend margin and margin close-out of 100%.
  • Negative balance protection is automatically applied to the account.
  • The option of using the StereoTrader and MetaTrader plus extensions.
  • Taxation is a monthly settlement of the final withholding tax which is applicable to tax residents in Germany.
  • Free Account management and payment transactions.
  • Access to CFDs, spot forex, and futures.
  • Spreads that start from 0.9 on EUR/USD and 1 pip on US30 Index.
  • Additional contributions are charged on this account.

 

  • Trader Workstation Live Account

The FXFlat Trader Workstation Live Account caters for forex traders who wish to use this trading platform through which they can execute trades in addition to performing several other functions.

The features on the Trader Workstation Live Account are as follows:

  • Minimum deposit from €2,000.
  • OptionTrader, BasketTrader, FXTrader, and several other extensions can be added onto the trading platform.
  • No deductions of the final withholding tax on this account.
  • Free account management and payment transactions.
  • forex traders who use this account are obliged to make additional contributions.
  • Access to Stocks, Options, Futures, CFDs, Spot forex, and several others.
  • Spreads from €1.90 on DE30 and €3.50 on EUR/USD.

How to Withdraw Money from FXFlat?

To withdraw money from FXFlat, the following should be done:

  • To withdraw funds from an FXFlat account, forex traders must navigate to the official website and access the withdrawal section.
  • Forex traders must complete a Withdrawal Form by providing their first and last name, email address, trading account number, the amount to be withdrawn, and the currency before submitting the request.

How many days do deposits take with FXFlat?

Deposits with FXFlat may be instantaneous or they take a few business days, depending on the deposit method that forex traders use.

What are the costs and fees with FXFlat?

There are four types of trading costs charged with FXFlat according to the official website. These costs relate to spreads, swap fees, commissions, and margin requirements.

The spread is the difference between the bid/ask price, which is expressed in pips, or maybe in EUR (with some instruments). The margin charges are charged according to overnight and intraday rates and will differ according to the instrument being traded.

Swap fees are charged according to interbank rates along with LIBOR while commissions are charged according to the financial instrument that is being traded.

What are the Trading Fees with FXFlat?

The Forex Trading Fees with FXFlat are below. 

Spreads on the FXFlat MetaTrader Accounts:

  1. Forex spreads from 0.9 pips EUR/USD.
  2. CFD spreads from 0.9 pips DE30 Index.
  3. Futures spread from €0.90 CME Micro Futures.

Spreads on the Trader Workstation Account:

  1. Forex spreads from €3.50 EUR/USD.
  2. CFD spreads from €1.90 DE30 Index.
  3. Futures spread from $0.90 CME Micro Futures.
  4. US Stock spreads from $1.90.
  5. ETFs from €3.90 XETRA.
  6. Options from €1.90 in Germany and $2.90 in the USA.

Swap Fees/Interest on FXFlat:

  1. Benchmark Credit of -3% per year on all currencies.
  2. Benchmark debits of +3% per year on all currencies.

Commissions on Trader Workstation Account:

  1. Forex commissions from 0.2 basis points per volume with a minimum commission of 3.50 per currency unit.
  2. Shares & ETFs have an order fee of 0.09% and a minimum fee of €1.90 on Tradegate.
  3. Options & Futures per contract start from €0.90 per contract while Options start from €1.90 per contract.
  4. CFDs have a commission that starts from 0.01%, with a minimum commission of $1.90 or currency equivalent in other currencies.
  5. Warrants and certificates have an order fee starting from 0.10% on Frankfurt warrants and certificates and 0.12% on the Stuttgart warrants and certificates, with a minimum fee of €3.90 on both.

Margin Requirements on FXFlat:

  1. Forex CFDs – from 3.33% on EUR/USD.
  2. Forex Spot – from 0.50% with a spread of 1.2 pips.
  3. EUREX – from €30 Intraday and €300 overnight on FGBS.
  4. CFD Individual Shares – 20% on the Standard Account, 10% on the Professional Account on Germany Shares while US Shares are 20% on Standard Account and 5% on the Professional Account.
  5. CFD Index – 5% on the Standard Account and 0.50% on the Professional Account.
  6. Crypto CFDs – 50% on the Standard Account and 35% on the Professional Account.
  7. CFD Commodities – 5% on Spot Gold on the Standard Account and 0.50% on the Professional Account.
  8. CFD Euro Bund – 20% on the Professional Account.
  9. ETF CFDs – 20% on Standard and Professional Accounts.

What is the minimum deposit in FXFlat?

According to the official website, the recommended minimum initial amount in FXFlat is 200 EUR. 

What are the contract specifications in FXFlat?

Feature FXFlat
Forex Trading Yes
CFDs 50+
Forex Pairs 65
Cryptocurrency (Physical) 0
Cryptocurrency (CFD) 6
Social Trading  No

Does FXFlat have promotional offers?

No, FXFlat does not have promotional offers indicated on the official website.

Does FXFlat have a welcome bonus?

No, FXFlat does not have a welcome bonus.

There is no indication of past, present, or future welcome bonuses on the official website. These bonuses are offered to new forex traders who register a live trading account for the first time, with the bonus amount paid into the trading account as trading credit.

Does FXFlat have a deposit bonus?

No, FXFlat does not have a deposit bonus.

There is no indication of any past, current, or future bonuses on the official website. Brokers offer deposit bonuses either on the initial deposit or recurring deposits into the trading account. It is offered either as a percentage back on the deposit or up to a certain amount.

Is there a commission-free trade bonus in FXFlat?

No, FXFlat does not offer forex traders a commission-free trade bonus.  

Is there a VIP bonus in FXFlat?

No, FXFlat does not offer forex traders a VIP bonus.

Can you start trading with no money at FXFlat?

No, you cannot start trading with no money at FXFlat. To start trading, forex traders must pay a minimum deposit of 200 EUR.

How does leverage work with FXFlat?

Leverage offered by FXFlat is according to the type of account the trader chooses to use and the financial instrument they wish to trade. Leverage ratios according to these parameters are indicated below.

Leverage is a useful tool that is offered to forex traders and is expressed as a ratio, for example, 1:100. 

The first number in the ratio represents the initial deposit of the trader, for instance, €200 (the minimum deposit amount for FXFlat), and the second number in the ratio is the leverage amount offered and what the initial deposit will be multiplied by.

On leverage of 1:100, the trader’s €200 deposit is multiplied by 100, thus giving the trader an amount of €20,000. This allows forex traders to open larger positions and maximize their profit potential. However, forex traders are also exposed to greater risk, especially if they are not granted negative balance protection, such as on the FXFlat Professional Classic Account.

FXFlat Standard Account:

  1. Forex CFDs (Major pairs): 1:30.
  2. Forex CFDs (Minor pairs): from 1:10.
  3. Spot forex: 1:200.
  4. Futures: from 1:135.
  5. CFDs on Indices (Majors): 1:30.
  6. CFDs on Indices (Minors): 1:10.
  7. Gold CFDs: 1:20.
  8. Metals CFDs: 1:10.
  9. Oil CFDs: 1:10.
  10. Stocks DE and US CFDS: 1:5.
  11. Interest CFDs: 1:5.
  12. Crypto CFDs: 1:2.

FXFlat Professional Classic and Plus Account:

  1. Forex CFDs (Minor pairs): 1:200
  2. Forex CFDs (Major pairs): 1:200
  3. Spot forex: 1:200.
  4. Futures: from 1:135.
  5. CFDs on Indices (Majors): 1:200.
  6. CFDs on Indices (Minors): 1:200.
  7. Gold CFDs: 1:200.
  8. Metals CFDs: 1:200.
  9. Oil CFDs: 1:50.
  10. Stocks DE: 1:10
  11. Stocks US: 1:20.
  12. Interest CFDs: 1:100.
  13. Crypto CFDs: 1:3.

Where are the headquarters of FXFlat?

FXFlat is headquartered in Ratingen, Germany.

Who is FXFlat’s CEO?

FXFlat does not have a CEO but is run by two managing directors namely Rafael Neustadt and Samed Yilmaz. Rafael Neustadt graduated from Internat Schloss Buldern in 2004 and has been managing director at FXFlat since the same year.

Samed Yilmaz graduated from the Frankfurt School of Finance and Management in 2012 and has held the position as managing director for 6 years and 7 months.

What are the social media accounts of FXFlat?

Forex traders can follow FXFlat on the following social media accounts:

  • Facebook
  • Twitter
  • YouTube
  • Google
  • Xing
  • LinkedIn
  • Instagram

How many employees do work for FXFlat?

According to an official source, FXFlat has over 66 employees according to official sources.

What are the opinions about FXFlat?

FXFlat is known for offering competitive trading conditions and excellent customer services.

What are FXFlat Contests?

FXFlat does not run any contests.

FXFlat’s official website does not mention or indicate any past, current, or future contests.

Does FXFlat have online support?

Yes, FXFlat offers prompt, informative online support through its provision of a live chat option that can be used 24 hours a day, 5 days a week.

Does FXFlat offer demo accounts for Forex trading?

Yes, FXFlat offers a free demo account for all new forex traders. The demo account can be opened with the following steps:

  1. Forex traders can visit the official FXFlat website, hover over “MetaTrader Account”, and select “Demo Account”.
  2. Forex traders can select whether they want to use MetaTrader or Trader Workstation by clicking “Select” below the options provided.
  3. Forex traders can complete the required fields by selecting the type of customer (private or professional) and by providing some basic information such as their title, first and last name, email address, and mobile number.
  4. Forex traders must select and accept the privacy policy and select the reCAPTCHA before they can select “Send”.
  5. Forex traders will be informed that registration was successful, and they will be provided with the relevant links to download/access their trading platform. forex traders will also receive a list and links of relevant add-ons according to the trading platform they chose.

Does FXFlat have a mobile app for Forex trading?

No, FXFlat does not have its own official mobile app for forex trading but offers the use of MetaTrader and TWS for forex trading.

With these trading platforms, forex traders are offered robust trading solutions while on the move and forex traders can rest assured that there is seamless account integration across platforms.

The trading platforms are free to download and can be used on any iOS and Android devices. With the trading apps, forex traders have access to all trading instruments, user-friendly interfaces, robust charting capabilities, and more.

Does FXFlat publish an economic calendar?

FXFlat publishes an economic calendar on the official website. 

An economic calendar is one of the most important trading tools that forex traders can use to stay updated on all financial occurrences. The economic calendar provides all the important releases and announcements from around the world. 

What is the communication information of FXFlat?

FXFlat several telephone numbers and one main local business address.

FXFlat can be contacted on the following numbers:

Germany: 0800 03 9352 8 or +49 2102 100 49 400

Swiss UK: +41 4172 69500 or +44 2077 1056 95

USA: +1 3125 4269 01

Hong Kong: +852 2156 7907

FXFlat’s main business address is 1 Kokkola Street, Ratingen, Germany 40882.