Comprehensive Review of FXTrading.com: Pros and Cons of a Leading Trading Platform

FXTrading.com, an esteemed online forex brokerage, stands as a beacon of security regulated by the Australian Securities and Investments Commission (ASIC). This comprehensive review delves into the broker's array of features, robust platforms, and stringent security measures, empowering you to make an informed decision about commencing your trading journey.

Exploring FXTrading.com's Vital Aspects

Origins and Evolution

Situated in the vibrant hub of Sydney, Australia, FXTrading.com operates under the ownership of Gleneagle Securities Pty Ltd. Initially established as RubixFX in 2014, the brokerage underwent a strategic rebranding in 2020, adopting the distinguished domain name 'FXTrading.com.' This transformation aimed at fostering a broader global outreach, solidifying its position in the market.

MetaTrader 4: The Trading Powerhouse

At the core of FXTrading.com's offerings lies the highly acclaimed MetaTrader 4 (MT4) platform. Recognized as the pinnacle in the realm of online retail trading, MT4 boasts lightning-fast execution speeds and an extensive suite of functionalities. This encompassing toolkit includes an array of indicators, sophisticated charting tools, and robust trading signals, ensuring an enriched trading experience for users.

Comprehensive Platform Availability

FXTrading.com ensures accessibility across diverse platforms, catering to the preferences of its clientele. The desktop, web, and mobile trading stations are all available for seamless download, accommodating various trading styles and preferences. However, it's noteworthy that MetaTrader 5 currently remains unavailable within their platform repertoire.

FXTrading.com offers a range of sophisticated tools tailored for diversified trading needs. The MetaQuotes Multi Account Manager (MAM) platform stands as a testament to their versatility. This unique provision empowers clients to efficiently manage multiple accounts sans the need to open an investment fund.

For those seeking a more hands-off approach to trading, FXTrading.com presents the MetaQuotes Percentage Allocation Management Module (PAMM). This innovative service allows 'Master' fund managers to execute trades on your behalf. You retain control by setting specific conditions within which the fund manager operates, ensuring alignment with your trading objectives.

Dive into Diverse Markets

FXTrading.com boasts a comprehensive array of markets, catering to various trading preferences:

• Forex: Access over 70 forex pairs, including majors, a diverse mix of crosses, and intriguing exotics.
• Cryptocurrency: Engage with 17 crypto assets, encompassing popular options like Bitcoin and Ethereum.
• Indices: Trade 17 indices, encompassing major players from Europe, North America, and Asia, such as the NASDAQ 100 and Dow Jones US 30.
• Stocks: Choose from a pool of over 10,000 share CFDs, featuring blue-chip stocks from the US, UK, and other prominent markets.
• Metals & Energies: Dabble in commodities like gold, silver, and oil, alongside other tradable options.

Assessing Spreads & Commissions

FXTrading.com prides itself on competitive spreads across different account types:

• Pro Account: Experience variable raw spreads starting at 0 pips, coupled with a commission of $3.50AUD per lot.
• Standard Account: Enjoy variable spreads commencing from 1 pip without any commission. For gold and silver, spreads range from 10 cents and 1 cent, respectively. Other commodities start at 1 pip, while indices start at 0.5 pips.

Exploring Account Options and Leverage

Account options at FXTrading.com come with varying features:

• Pro Account: Raw spreads and a commission of $3.50 per lot/side.
• Alpha Account: Raw spreads with a reduced commission of $3.0 per lot/side.
• Standard Account: Variable spreads from 1 pip without any commission.

Regarding leverage, FXTrading.com stands out with high leverage offerings up to 1:500 for forex across all account types. However, it's crucial to note ASIC's stricter caps effective from March 2021, aimed at safeguarding clients' interests:

• 1:30 on major currency pairs
• 1:20 on minor currency pairs, gold, or major stock market indices
• 1:10 on commodities (excluding gold) or minor stock market indices
• 1:5 on shares or other assets
• 1:2 on crypto assets

Mobile App

FXTrading.com facilitates seamless trading experiences with the MT4 mobile app, available for download on Google Play or the Apple App Store. The app ensures hassle-free device transitions while retaining full trade functionality. Simply sign up for a real or demo account on the FXTrading.com website to initiate your trading journey. Post-account creation, detailed instructions on accessing the app will be provided.

Account Management and Transactions

FXTrading.com facilitates account creation in various base currencies such as AUD, USD, EUR, GBP, SGD, NZD, CAD.

Investors have the flexibility to deposit funds through multiple methods:

• PayPal, WorldPay, Visa, MasterCard, UnionPay, Neteller, POLi
• Bank Wire Transfer
• Local Bank Transfer

Notably, FXTrading.com does not levy any additional fees on transactions. Processing durations differ among methods: instant processing for credit cards and e-payment methods, 2-5 business days for wire transfers, and 1-2 business days for bank transfers.

Initiating deposits is straightforward via the secure client portal: users select the preferred method, specify the amount, and submit the request.

Withdrawals to bank accounts typically take 2-3 working days, aligning with industry-standard processing times, showcasing FXTrading.com's competitive edge.

Demo Account Offering

For those seeking to explore without commitment, a 30-day trial demo account is available. This simulated account allows users to trade with virtual funds, offering an opportunity to test the broker's platforms, tools, and customer support before registering for a real account.

Promotions and Bonuses

FXTrading.com presents various promotions:

• New Trader Programme: Up to a 25% cash bonus to offset trading losses.
• Convertible Deposit Bonus: A 10% convertible deposit bonus on new deposits up to $50,000.
• Welcome Trading Bonus: 50% trading bonus up to $250, along with an additional 10% trading bonus up to $2,250.
• 3% Interest Rates: Earn 3% interest on uninvested cash balances in forex trading accounts.

Note that promotions cannot be combined, and each offer has specific terms and conditions.

Regulation and Compliance

FXTrading.com operates under the regulation of the Australian Securities and Investments Commission (ASIC) since 2019, operating as a subsidiary of Gleneagle Securities PTY Limited. ASIC compliance ensures safety and reliability for traders, enforced through measures like segregated client funds, staff and owner training standards, stringent accounting and auditing, and regular risk management audits.

Moreover, FXTrading.com holds licensing from the Vanuatu Financial Services Commission, extending its coverage to traders globally.

Additional Offerings

Beyond a regularly updated blog keeping traders informed on market events, FXTrading.com's resource offerings are relatively limited. This brokerage caters to traders seeking a noise-free environment for trading.

Account Options

FXTrading.com provides three account types: Standard, Alpha, and Pro. Spreads start at 1 pip variable with the Standard account and offer raw spreads with the Pro and Alpha. Commissions, at $3.0 or $3.5, apply to Pro and Alpha accounts. Minimum deposits range from $200 (Standard) to $10,000 (Alpha).

Consider your trading strategy—opt for tighter spreads or avoid commissions per trade.

Account functionalities remain consistent across all types, including permissions for hedging, access to MT4 and MT5, and lot size options.

Trading Hours and Support

FXTrading.com operates variable trading hours based on assets, with the forex market open 24 hours from Sunday to Friday. Customer support is available via phone at +61 (0) 2 8039 7366 for international clients and through live chat during working hours (GMT+11). Email inquiries can be sent to service@fxtrading.com.

Security Measures

The website ensures data security with HTTPS encryption, offering relative protection against cyber threats. Additionally, the MetaTrader 4 platform provides dual-factor authentication and secure login settings.

FXTrading.com Verdict

FXTrading.com stands as a user-friendly, ASIC-regulated brokerage offering fundamental trading essentials at competitive rates. The company's 2020 rebrand signals its global aspirations, backed by strong sign-up bonuses. However, its limited resource offerings might be a downside for some traders.

Pros and Cons

Pros

• Diverse resources like blogs, forex books, V.O.D library, interactive courses, market analysis, webinars, and Autochartist
• Extensive market options, including 10,000+ stocks, 70+ forex pairs, and cryptocurrencies
• Supports the popular MT4 trading platform complemented by exclusive analytical tools
• Competitive raw spreads starting from zero based on market conditions
• ASIC regulation for the Australian branch
• High leverage up to 1:500
• No intervention from dealing desks
• Bonuses for active traders
• Swift execution
• Tier 1 liquidity

Cons

• Lack of negative balance protection
• Global branch has some limitations

FXTrading.com Broker Details

Disclaimer: - We at forexoverflow do not endorse neither refer anyone to trading broker websites. The information is for educational purpose and source of information is from the broker website.