de | cn | ru

FXLider Review – is it scam or safe?

FXLider Review – Is www.fxlider.com scam or safe forex broker?

RATING: 3.3 / 3 REVIEWS
FIND BETTER FOREX BROKER

 Trading accounts

 

 

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Standard $/€ 100 0.01 lots 1:200 3 pips

 

 

FXLider offers just one type of live trading account – Standard. According to the broker's site, there is also an ECN trading account, but we could not find any further details about it. There is also a demo account with virtual $100 000 for those who want to try trading without risk.

 

The broker's clients can trade in around 50 forex pairs – major, minor and some exotics, and CFDs on oil, gold, agricultural products, stocks and indices.

 

 

The Company. Security of Funds

 

Company Country Regulation
Fortrade UK FCA

   

 

FXLider is owned and operated by the UK forex broker Fortrade, which is regulated by UK's Financial Conduct Authority. It is one of the several forex brokers owned and operated by Fortrade, that are targeting different global markets. In the case of FXLider it is mostly aimed at the Western Balkans and is among the leaders in Macedonia, Bosnia, Albania and Kosovo.

 

Falling under the jurisdiction of FCA, FXLider is required to keep the client funds in segregated accounts. It is also a member of the Financial Services Compensation Scheme (FSCS) that covers up to  £50,000  per client in case of the broker's insolvency.

 

 

Trading conditions

 

Minimum initial deposit

 

The minimum initial deposit required by FXLider is $ or € 100, which is not a small sum, especially considering the main market of the broker. Besides, there are other FCA-regulated brokers like IG and XM, that have much lower deposit requirements of $1 and $5, respectively.

 

Spreads and commissions

 

For most of its trading accounts FXLider offers its clients fixed spreads and does not additional fees and commissions. The company expenses and profits are included in the spreads instead.

 

The spread for some of the more popular forex pairs like EURUSD, EURGBP and USDJPY is 3 pips. This is a little above the average for the industry, but is the same as that of Fortrade.

 

Leverage

The maximum leverage FXLider gives to its clients is 1:200, available for the majority of forex pairs. For the more exotic pairs the broker gives a max leverage of 1:25.

 

The 1:200 leverage is not too lucrative for many retail brokers, but is less risky than much higher leverage like the one offered by Grand Capital – up to 1:2000. In some countries like the US, the leverage cap is set at 1:50 and UK's FCA will fairly soon set it at the same level, at least for some CFDs. In Japan the max leverage is even lower: 1:25.

 

 

Trading platforms

 

FXLider, like the other Fortrade affiliates that we have already reviewed, is offering two trading platforms: MetaTrader 4 (MT4) and Sirix. Additionally, FXLider offers social trading with the ZuluTrade platform.

 

The broker also has some own trading platforms: the mobile FXLider Mobile, available for Android and iOS devices, the copy trading platform FXLider Copy Trade and the FXLider Pro Trader.

 

Promotions

 

FXLider has several types of promotions, both for new clients and for active clients. For the former the broker offers a welcome bonus, a credit bonus and a balance bonus. To its active clients FXLider runs a “second time deposit promotion”, credit bonus and payoff, balance bonus, a priority client bonus and incentives for long term traders.

 

Methods of payment

 

FXLider's clients can fund their accounts through a bank transfer, with a credit card or through the online payment systems Neteller and Skrill.

 

This is a fairly standard set of funding options offered by many other brokers like FIBO Group and FxPro.

 

Conclusion

 

Thanks to the UK license of its owner, FXLider is a stable and well-regulated forex broker, but its trading conditions are nothing remarkable and it does not stand out among its peers. On the other hand, considering its main market which is probably not very saturated, it doesn't have to make a very significant effort.

 

The variety of trading platforms it offers, however, is rather striking.

 

Pros Cons
Abundance of trading platforms High initial deposit
  Low leverage

 

Latest news about FXLider
Broker Country Regulation Platform Min Deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web $100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Cyprus FCA, CySec MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus CySEC in-house mobile
app
$50 Review Website
Seychelles FinaCom MT4, Web $10 Review Website
Cyprus, UK CySEC, FCA eToro
WebTrader,
eToro OpenBook
$500 Review Website

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Traders` reviews for FXLider

Scam-Scam-Scam

http://www.forexpeacearmy.com/forex-reviews/8392/fxlider.com

Interesting.. IBA Options called me on phone, promising the moon, I told them I have no experience, then supersalesman gets on phone, talk, talk, talk, until you make deposit.... then when you make deposit, you do not know who is getting the money... Email confirmation says one name, Sir Global market Ltd-NONE3D yet bank statements says another, FXLIDER448000119072. Who is this guy??? FXLIDER448000119072 ??? where did the money go? Who has the money now? I smelled a rat when my trader was able to "remove a trade" and replace it with a profit... then the trader would not let me trade because I did not know what I was doing... Then boom, instant profit on a trade, in 20 seconds, how did he do that? I suppose by pure manipulation of the platform, as soon as I asked for a withdrawal, all $ was lost, never got 1 cent and site is closed... Wa.... Wa.... Wa...

Jack Bolderoff 06/12/2017

Scam

this company has taken money from my account without authorisation or premission total scam unthrustworthy

Gerry 05/31/2017

FXLider Scam

FXLider have tried to take money from my credit card account without my permission. I have never traded with FXLider nor have I expressed any desire to do so. Please leave me alone!

Reidun Hanserud 05/10/2017
Forex
de | cn | ru