FXTrading Forex Trade Platform and Broker Review

FXTrading Forex Trade Platform and Broker Review

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FX Trading Broker Review

FXTrading is an Australian-owned and ASIC-regulated Forex broker, formerly operating as RubixFX. FXTrading provides Forex and CFD trading with raw spreads and low commissions in a highly secure trading environment. 

FXTrading was first founded in 2014 and today has headquarters in Sydney. FXTrading has approximately 100 employees.

Is FXTrading Regulated?

Yes, FXTrading is regulated by the Australian Securities and Investments Commission (ASIC), and its parent company, Gleneagle Securities Pty Ltd, is regulated by the Vanuatu Financial Services Commission. 

According to the official website, FXTrading is under regulation for providing secure licensed and investment services under the auspices of the ASIC. 

FXTrading’s regulations guarantee extensive client protection measures, including capped leverage, negative balance protection, and reduced margin close-out levels.

Is FXTrading Regulated in the United States?

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

Is FXTrading Regulated in Europe?

No. FXTrading is not regulated in any European state.  

Is FXTrading regulated in a Tier-1 Jurisdiction?

According to the FXTrading website, FXTrading is regulated under Tier-1 jurisdiction. 

Regulation within a Tier-1 jurisdiction gives the broker licensing to operate in specific countries. These consist of Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Israel, Japan, Luxembourg, Netherlands, New Zealand, Norway, Puerto Rico, Singapore, Sweden, and Switzerland.

Is FXTrading regulated in Tier-2 Jurisdiction?

According to the official FXTrading sources, FXTrading is not regulated under Tier-2 jurisdiction. 

Licensing within a Tier-2 jurisdiction means the regulated operations within a specific region or country. These consist of the British V.I., Cayman Islands, Cyprus, Italy, Malaysia, Mexico, Poland, Portugal, Spain, and Taiwan.

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

FXTrading offers traders access to the MetaTrader 4 platform, by far the most popular software offering within the MetaTrader suite, and designed by MetaQuotes. 

  1. MetaTrader 4 from FXTrading has specially designed features for ease of use, fast execution, and customizable trading conditions. Provided within the FXTrading offering, these include the following:
  • Raw price spreads from 0.0 pips
  • Institutional grade liquidity
  • Lightning-fast order execution
  • No dealing desk intervention
  • Trading server located in NY4 Equinix Centre
  • Unrestricted trading environment (EA’s and Scalpers Allowed)
  • Hedging allowed
  • ASIC regulated broker
  • Trade mini and micro-lots

Does FXTrading Have a News Blog for Forex News?

Yes. FXTrading has a free news blog available on its official website. The news blog consists of important and regularly updated trading announcements and market news releases, allowing traders to remain abreast of significant currency changes from around the world. 

Does FXTrading Have a Traders Dashboard?

No, FXTrading does not offer a Traders Dashboard. This is a centralized area on some broker sites that allow users to oversee different data streams pertaining to market analysis, from one central location on the website. 

Does FXTrading Have an Educational Section?

No, FXTrading does not offer an Educational Section on its website. Many brokers provide free education to beginner traders, which may consist of lectures, webinars, and video tutorials, enabling beginner traders to improve their Forex trading skills.  

What is the content of FXTrading Forex Education?

FXTrading does not offer Forex Education. However, the dedicated blog on the broker’s website will allow traders to keep up to date on important market events, aiding in fundamental analysis for trading strategy adjustment. 

Is FXTrading Legit?

Yes, FXTrading is a legit Forex Broker and Trade Platform. FXTrading has an ASIC legal certificate to perform Forex Broker and trading services.

Is FXTrading Safe?

FXTrading is a reliable and safe Forex Trade platform in terms of its regulation and safety protocols. The broker is regulated by the Australian Securities and Investment Commission (ASIC), in Australia, which is a tier-1 jurisdiction. 

FXTrading stores all its client funds in segregated accounts with top-tier banks. This means the broker cannot use client deposits to trade or maintain its own positions. Client funds may be used to meet a client’s margin requirement and running profit and loss only. 

Is FXTrading a Good Broker?

Yes. According to the Forex Suggest review, for security, trading speed, online support, and cryptocurrencies, FXTrading is a good broker. 

  1. In terms of trading speed, the MetaTrader 4 platform is renowned for its fast execution, and its ability to fulfill various different order types depending on the user’s preference. 
  2. In terms of security, FXTrading fulfills various client protection measures as per the requirements of its regulator, ASIC. ASIC regularly audits brokers to stress test them in different operational scenarios. Each firm is required to hold a minimum amount of capital reserves.
  3. In terms of online support, FXTrading offers a dedicated live chat function. Using this, clients can contact a member of the support team directly or for the immediate resolution of their queries.  
  4. In terms of cryptocurrencies, clients can trade cryptocurrencies with floating spreads, with access to some of the most lucrative crypto assets, including BTC, ETH, and XR.

What is the Offering of Investment in FXTrading?

Offerings of FXTrading can be found below.

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

Does FXTrading have Nasdaq?

Yes, FXTrading offers traders the option of trading CFDs on the Nasdaq 100 Stock Index. Established over 25 years ago, the Nasdaq represents the largest non-financial companies and contains domestic and international stocks which are capitalization-weighted.

What are the Awards of FXTrading?

According to the official sources and Forex Trading platforms, FXTrading does not have any awards listed to date. 

How to Use FXTrading for Forex trading?

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

  1. A copy of their identification documents
  2. They should be 18 years or older
  3. They should be able to afford the minimum deposit of $200
  4. They should not be a resident of the United States, Canada, Japan, Korea, Iran, New Zealand, and Vanuatu. FXTrading does not offer brokerage services in these countries. 

If a Forex Trader has the conditions above, they can open a forex trading account to use FXTrading. 

How to open a Forex trading account with FXTrading?

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

  1. Navigate to the Accounts section on the official FXTrading website
  2. Click the button to open an account on the top right hand of the website
  3. Complete the simple online registration form, providing your full name email address, created password, and country of residence
  4. Click “submit” 
  5. Upon approval of your registration form, a client support team member will contact you with login details for your account
  6. Upon making your first deposit you will be able to start trading on your new account

What is the Forex Trader Account Types with FXTrading?

Forex Trading Platform and Financial Asset Management Institution FXTrading have 3 different account types. Every Forex trading account type has different features and conditions with FXTrading. 

FXTrading Account Types are listed below. 

  1. Demo Account

  2. Standard Account 

  3. Pro Account

  • Demo Account

FXTrading provides new traders with the option to open a free demo account, which will give them access to the various trade features of the MetaTrader 4 platform. 

The account is available for 30 days, and users will be able to test the platform features against the broker’s trading conditions before deciding to sign up for a real account. 

  • Standard Account

The Standard Account is FXTrading’s most popular account option and is designed for private retail traders. The account provides access to the full asset selection with competitive spreads and no commissions. 

Traders can open a Standard Account for a minimum deposit of $200, which is fairly standard compared to many other brokers in the industry. 

  • Pro Account

The Pro Account from FXTrading is designed for advanced and professional traders and includes commissions on trades, but the assets can be traded on raw spreads, amongst the other conditions described below. 

  • Base currency options: USD, EUR, GBP, AUD, NZD, SGD, and CAD
  • Spread: Raw Spread Variable from 0 PIPS
  • Commission: $3.50 USD PER LOT / PER SIDE ($3.5 AUD, €3.00 EUR, £3.00 GBP, $3.50 SGD, $3.50 NZD, $3.50 CAD)
  • Leverage: 100:1 200:1 400:1 500:1
  • Minimum deposit: $1000
  • Products offered: Forex, Metals, Energy, Cryptocurrencies & Index CFDs
  • Platforms: Desktop MT4, Mobile MT4, Web Trader MT4
  • Minimum trade size: 1 Micro-Lot (0.01 Lots)
  • Swaps: Pro Swaps

How to Withdraw Money from FXTrading?

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

  • Log in to the Secure Client Portal and click on the Withdrawals button
  • Select the withdrawal method
  • Enter the amount you wish to withdraw and submit the request
  • The requested amount will be deducted from your trading account and sent to you

How many days do deposits take with FXTrading?

Deposit times will vary depending on the selected deposit method. Credit and debits cards and e-payments like Skrill are processed instantly, while bank transfers can take up to five working days depending on the location of your institution.

What are the costs and fees with FXTrading?

There are three types of costs with FXTrading. Commission costs are charged to Pro Account users, spreads are charged per trade for each account, and swap fees are incurred on positions held overnight. 

A Forex Trading Cost is charged to broker clients in return for using their services. These constitute the means by which a broker will make its profit, and typically consist of commissions, spreads, and swap fees.  

The Forex Trading Fees with FXTrading are below. 

Spreads:

  • Raw, variable spreads are offered on the Pro account starting at 0 pips.
  • On the Standard account, variable spreads start from 1 pip with no commission. 

Commission: 

  • There is no commission charged on the Standard Account 
  • The Pro Account has commissions of $3.50AUD per lot

Swaps:

  • If Foreign Exchange Transactions are “rolled over” or “swapped”, you will be charged or will be entitled to receive a Finance Charge at the daily rollover rate determined by FXTrading. 
  • The rollover rate is the interest rate differential between the two applicable currencies. The Finance Charge ordinarily is calculated and applied by way of being added to the Transaction amount which will therefore vary depending on a number of factors including:
  • the currency pair you are trading; 
  • the applicable interest rates in the interbank markets according to the period of the rollover that is the interest rates offered for each currency pair (paid or earned); 
  • the size of the Transaction

What are the Trading Fees with FXTrading?

FXTrading charges spread, commissions, and swaps, depending on the trading account and the instrument being traded. There are no fees on deposits or withdrawals. 

What is the minimum deposit in FXTrading?

The minimum deposit amount required in order to open a Standard Account with FXTrading is $200. Professional traders can apply for a Pro Account with a minimum deposit of $1000. 

What are the contract specifications in FXTrading?

Feature FXTrading
Forex Trading Yes
CFDs 4
Forex Pairs 45
Cryptocurrency (Physical) 0
Cryptocurrency (CFD) 3
Social Trading  Yes

Does FXTrading have promotional offers?

No, FXTrading does not provide promotional offers or bonuses to its new or existing clients. This is due to the fact that the broker’s regulator, ASIC, recently restricted the offering of broker bonuses as part of extended client protection measures. 

Does FXTrading have a welcome bonus?

No, FXTrading does not offer a welcome bonus. 

However, provides raw spreads and some of the tightest spreads of all forex trading brokers globally. The Pro account Price Spreads start at 0.0 pips direct from the market on the MetaTrader 4 platform. 

The average EURUSD spread is one of the tightest average spreads globally. 

Does FXTrading have a deposit bonus?

No, FXTrading does not offer a welcome bonus.  This is due to the fact that FXTrading’s primary regulator, ASIC, restricts the broker from offering a deposit bonus. 

Is there a commission-free trade bonus in FXTrading?

No, FXTrading does not offer a commission-free trade bonus. The broker does however offer commission-free trading on the Standard Account.

Is there a VIP bonus in FXTrading?

No, FXTrading does not offer a VIP bonus. VIP clients can apply for a Pro Account to enjoy advanced trading conditions and raw spreads. 

Can you start trading with no money at FXTrading?

No, you cannot start trading with no money at FXTrading. This is because FXTrading does not offer any deposit bonus, therefore traders will need to deposit their own funds when opening a Trader Account.

How does leverage work with FXTrading?

Leverage is debt granted to a trader by a broker in order for them to open larger positions than they would have been able to use their own funds. 

Traders can use leverage with FXTrading by changing the leverage ratio from within their trading account settings. Professional traders can apply for higher leverage directly from the customer support team. 

Where are the headquarters of FXTrading?

FXTrading is headquartered in Sydney, Australia.  

Who is FXTrading’s CEO?

FXTrading does not divulge information regarding its CEO. 

What are the social media accounts of FXTrading?

Traders can follow FXTrading on the following social media accounts:

  • Twitter
  • Facebook
  • Instagram
  • YouTube

How many employees do work for FXTrading?

According to the official LinkedIn profile, FXTrading has approximately 100 employees.

What are the opinions about FXTrading?

FXTrading, formerly trading as Rubix FX, is a very well-regulated ASIC broker that offers extensive client protection measures and a secure trading environment. 

The broker stands out for its competitive pricing, with raw, tight spreads and no commission on the Standard Account. However, in terms of the rest of its offering, the broker is fairly limited, offering only one type of trading platform, and no education or additional analytics. 

What are FXTrading Contests?

FXTrading does not run any kind of Forex Trading Contests. Forex Contests can be performed for brokers who offer them to traders to profit on contest winnings. 

FXTrading didn't perform any Forex Contest in the past. For future forex exchange contests and competitions, FXTrading didn't perform any official announcements yet.

Does FXTrading have online support?

Yes, FXTrading has an online support team for Forex trade account users. The dedicated chat button on the broker’s website will redirect traders to a support team member for immediate assistance.  

Does FXTrading offer demo accounts for Forex trading?

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

  1. Navigate to the demo account registration portal on the broker’s website
  2. Fill out the required fields with the relevant information, including your full name, email address and contact details
  3. A confirmation email will be sent to your inbox with a link allowing you to open and start using your demo account 

Does FXTrading have a mobile app for Forex trading?

Yes, FXTrading offers the MetaTrader 4 App for both Android and iOS. 

Using this app, traders are granted access to 60 instruments including forex, metals, indices, and oil, via their handheld device. Traders can also access all of the other charting features and indicators available on the desktop version.

 

Does FXTrading publish an economic calendar?

An economic calendar is a resource provided by some brokers which allow traders to tack upcoming market announcements which may have a significant impact on currency prices, and therefore on their trades.  

FXTrading does not publish an economic calendar.

What is the communication information of FXTrading?

FXTrading has two telephone numbers and one local address. 

FXTrading’s main telephone number is: +61 (0) 2 8039 7366

FXTrading’s main local address is: Level 27, 25 Bligh Street Sydney NSW 2000 Australia

Alternate phone numbers are:

AU Local: 02 8039 7366