Reviewing Fxview: A Comprehensive 2023 Broker Review

Reviewing Fxview: A Comprehensive 2023 Broker Review

Are you seeking a European broker with expertise in CFDs within forex, stocks, cryptocurrencies (available for global clients only), commodities, and indices markets? Look no further. This 2023 broker review delves deep into Fxview, uncovering its trading platforms and the accompanying tools it offers. Join us on this journey as we provide insights into the advantages and disadvantages of opening an account, touching on regulatory matters, security considerations, and customer eligibility.


Unveiling Fxview


Fxview, a prominent online brokerage, commenced its operations in 2017. It operates under the ownership and management of Charlgate Ltd, situated in Limassol, Cyprus. Additionally, Fxview Global (Charlgate SVG LLC) is officially registered in St. Vincent and the Grenadines. To ensure a secure and reliable trading environment, the broker holds regulatory licenses from the Cyprus Securities and Exchange Commission (CySEC), the Financial Sector Conduct Authority (FSCA) in South Africa, and the Financial Services Commission (FSC) in Mauritius. It's noteworthy that in June 2021, Fxview was acquired by the Finvasia Group.


Trading Platforms


When it comes to trading platforms, Fxview offers a range of options tailored to meet traders' needs. The standout platforms include the well-known MetaTrader series: MT4 and MT5. Additionally, they provide ActTrader for those seeking an alternative trading software. Web-based versions of these platforms are readily available for traders who prefer to avoid software downloads. Let's take a closer look at these platforms:


MetaTrader 4

  • Available across various platforms including web, desktop, Mac, Android, and iPhone.
  • Supports automated trading through Expert Advisors (EAs).
  • Offers 4 pending order types.
  • Includes 30 default indicators.
  • Features one-click trading for swift execution.
  • Provides 9 time frames for versatile analysis.
  • Keeps traders updated with a dedicated news section.


MetaTrader 5

  • Accessible on web, desktop, Mac, Android, and iPhone.
  • Offers 6 pending order types for flexible trading.
  • Boasts an impressive array of 38 default indicators.
  • Features an economic calendar for staying informed.
  • Allows one-click trading.
  • Provides an extensive 21 time frames.
  • Keeps traders updated with a dedicated news section.


ActTrader

  • Accessible on web, desktop, Android, and iPhone.
  • Offers risk management tools for 'what if' analysis.
  • Equipped with a visual strategy builder for automated trading strategies.
  • Provides 4 pending order types.
  • Includes 48 default indicators.
  • Offers a dedicated news section.
  • Allows traders to explore the market through 11 different time frames.


Assets & Markets


Fxview specializes in CFD (Contract for Difference) trading, which enables traders to speculate on price movements without owning the underlying asset. The following markets are available:

  • 70 forex pairs, including majors, minors, and exotics.
  • 8 commodities, encompassing precious metals and energies.
  • 11 indices, with options like the D30EUR and NASUSD.
  • 400+ stocks and shares from US, UK, and European markets.
  • 5 cryptocurrencies, including popular options like BTC/USD and ETH/USD.


Analyzing Spreads & Fees


Fxview boasts competitive spreads starting from as low as 0.0 pips, with the tightest spreads found in highly liquid markets, such as major forex pairs like EUR/USD. While spreads may be slightly higher in markets like commodities, Fxview's raw spreads mean that they derive revenue through commissions. The broker charges $1 per $100,000 traded, which is relatively low, though it may impact high-volume traders, particularly day traders and scalpers. Additionally, swap fees may apply for positions held overnight. Notably, Fxview operates as an ECN (Electronic Communication Network) broker, fostering direct connections between clients and other market participants. This approach typically leads to tighter spreads and faster trade execution.


Understanding Leverage


Leverage empowers traders to open positions with a higher value than their initial investment. For example, a leverage ratio of 1:10 enables a trader to access $1,000 with just a $100 investment. While European clients typically enjoy a maximum leverage of 1:30 on major forex pairs like EUR/USD, global clients can leverage their investments up to 1:500.


Mobile App


Fxview offers a user-friendly mobile app, available on both the App Store (Fxview Phone) and Google Play (Fxview Droid). The mobile app seamlessly syncs with the desktop and browser-based platforms, ensuring a consistent trading experience. Users can easily manage their accounts, make deposits and withdrawals, and execute trades while on the go. The mobile app also supports the MT4 and MT5 platforms for those who prefer mobile trading.


Payment Methods


Deposits

Fxview sets a minimum deposit of $200 for EU traders and a lower threshold of $50 for global traders. It's essential to distinguish between the minimum deposit and the minimum trade size, which is 0.1 lots. Importantly, Fxview does not charge any fees for deposits. However, traders should be mindful of potential third-party fees, such as those imposed by their banks. Visa/Mastercard, Skrill, and Neteller deposits are processed instantly.

The full list of deposit methods includes:

  • Visa & Mastercard
  • Bank Transfer
  • Rapid Transfer
  • Skrill
  • Neteller
  • Klarna
  • Giropay
  • Przelewy24
  • Nordea Solo
  • Cryptocurrencies (available for global clients only)


Withdrawals

Withdrawal options are somewhat limited, featuring:

  • Visa/Mastercard
  • Bank transfer
  • Neteller
  • Skrill
  • Cryptocurrencies (available for global clients only)

Fxview refrains from imposing withdrawal fees, and the processing time for withdrawals is a speedy one business day. As with deposits, third-party fees may still apply.


Demo Account


Fxview generously offers a free demo account, a valuable resource for both beginners and experienced traders. It serves as an excellent platform for acclimating to the trading environment and testing new strategies. To access the demo account, interested clients can sign up directly on the broker's official website.

Deals & Promotions

For those looking for added incentives, Fxview extends a 100% deposit bonus on deposits exceeding $200. This bonus allows for maximum leverage of up to 300x and is exclusively available to non-EU clients.


Regulation & Licensing


Fxview demonstrates its commitment to transparency and safety through regulatory compliance. The broker is regulated by the Cyprus Securities and Exchange Commission (CySEC) and is affiliated with the Investor Compensation Fund (ICF). This means eligible clients can potentially claim up to 20,000 EUR in the event that the firm fails to meet its obligations. In addition to CySEC regulation, Fxview holds a license with the Financial Sector Conduct Authority (FSCA) in South Africa. This combination of licenses underscores the broker's dedication to maintaining high standards. Furthermore, Fxview holds over 30 registrations, including BaFin, CNMV (Spain), CONSOB (Italy), FCA (UK), and Finanstilsynet (Norway).


Additional Features


Fxview offers an informative Market News section, regularly updated to help traders stay informed about the latest market developments. This feature proves particularly valuable for traders relying on fundamental analysis in their trading strategy. Moreover, Fxview's video tutorial section is an exceptional resource, offering insights into various trading strategies, financial terminology, and different indicators. The broker also hosts free online webinars, although the content may not always be the most up-to-date. Additionally, Fxview facilitates API trading, enabling traders to connect their platforms to the broker's live data and liquidity, thereby improving execution speeds and reducing latency.


Account Types


Fxview's RAW ECN account stands as the primary live trading account, featuring tight spreads and a reasonable commission. For those interested in copy trading, Fxview offers the Zulu account, which can integrate with ZuluTrade. Global clients also have access to an Islamic account, catering to their specific needs.


Trading Hours


Trading hours vary depending on the specific market. Fxview's server time adheres to GMT+3 during US Daylight Saving Time (DST) and GMT+2 during US non-DST periods. The forex market remains open from 00:05 on Monday to 24:00 on Friday, with a brief daily break from 00:00 to 00:05. Trading hours for most commodities and indices markets follow a similar pattern.


Customer Support


Fxview prides itself on maintaining a responsive customer support team, offering peace of mind to traders in need of assistance. Customer support at Fxview is available 24/5, ensuring that help is just a message or call away. In our testing, the live chat feature proved particularly efficient, delivering quick responses. In addition to live chat, Fxview offers an online contact form, email support for both EU and global clients, and phone support with dedicated numbers. The broker maintains a presence on various social media platforms, including Facebook, Twitter, Instagram, LinkedIn, and Reddit. Additionally, Fxview hosts a YouTube channel where users can access valuable content.


Safety and Security


In line with the practices of reputable brokers, Fxview safeguards client funds by utilizing segregated bank accounts, separating them from company assets. Furthermore, user funds are distributed across multiple financial institutions to mitigate risk. Fxview employs two-factor authentication and 3D secure technology when processing card payments, enhancing the overall security of the platform.


Fxview Verdict


Fxview's competitive spreads are sure to capture the attention of investors, especially day traders seeking to minimize costs. The inclusion of copy trading through the Zulu account is a notable feature that can benefit beginners. As we wrap up, let's summarize the pros and cons:


Pros and Cons


Pros

  • A wide range of assets, including 70 forex pairs and a diverse selection of stocks.
  • Operates as a no-dealing-desk broker with ECN pricing starting from 0 pips.
  • Responsive customer support, verified by our tests.
  • Offers a free VPS for deposits of $5,000 or more.
  • Global clients can access high leverage options.
  • Regulated by CySEC, providing a sense of security.
  • Facilitates API trading for enhanced execution.


Cons

  • Does not accept traders from the US and the UK.
  • Limited availability of cryptocurrencies.
  • Does not offer ETFs.

In Summary, Fxview presents itself as a competitive and reliable option for traders looking to engage in the world of CFDs. With its robust platform offerings, diverse asset selection, and regulatory compliance, it caters to both new and experienced traders, particularly those outside the US and the UK.


Fxview 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.

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