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Fair Lane Review - is it scam or safe?

Fair Lane Review - Is ppdefl.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz Fair Lane
Fair Lane is an offshore broker. Your money is not safe.

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Fair Lane is a forex and CFD broker, offering fixed and floating spread accounts on the MetaTrader4 platform. If you are thinking about opening an account with them be sure to read this review first.

 

Account type Min. deposit Max. leverage Spreads
Floating Spread Account n/a 1:500 0,9 pips, floating
Fixed Spread Account n/a 1:500 1,9 pips, fixed

 

Fair Lane Advantages:

 

Maximum leverage of up to 1:500

 

Fair Lane allows leverage of up to 1:500 and we should note that very few brokers offer such levels. The leverage however is a two edged knife – you can score higher profit with a small investment, but in the same time you can loose your money much faster. Still, here you may check our list of brokers, also offering leverage of up to 1:500 and above:

 

>>Forex Brokers Offering 500:1 Leverage<<

 

MetaTrader4 available

 

The good news is you can download MetaTrader4 – no doubt the most popular trading platform for the past 10 years and more. 

 

MT4 has user friendly charting tools and more than 50 in-build market indicators. Its most prominent feature, however, is the option to run automated trading sessions with the help of ExpertAdvisors – trading algorithms, which you can compile by yourself on a specially designed scripting language – the MQL4. Here you may want to check our list of brokers, also supporting the Metaatrder4:

 

>>Find other MT4 brokers here<<

 

Fair Lane Disadvantages:

 

Misleading information on the regulatory status of the broker

 

Fair Lane Ltd or FAIR LANE Financial Group, claims it is regulated by the Australian Securities and Investments Commission (ASIC) - along with the Financial Conduct Authority (FCA) in the UK and Cyprus Securities and Exchange Commission (CySEC) one of the most respectable financial authorities world wide.

 

 

After checking ASIC registers, however, we discovered that is not the case. Fair Lane is generic and there are registrations of companies with similar names, but Fair Lane Ltd is not one of them. That is the reason, for the purpose of this review, we will treat Fair Lane as an unregulated broker. 

 

Besides, the broker turned out to be an offshore company, registered in Samoa.

 

Licensed brokers on the other hand are subject to strict fiscal regulations, including the rule to maintain a certain level of operational capital. ASIC brokers for example have to maintain operational capital of at least 1 000 000 AUD. In addition they also have to keep all clients money in a segregated, protected from creditors account. Here you can check our list of brokers, regulated in Australia:

 

>>Brokers regulated in Australia<<

 

Few trading instruments

 

Fair Lane says it offers more than 200 trade instruments, including commodities, indices and stocks. As tested with a Demo account we counted just 26 base forex pairs, no exotic currencies at all, and just a few CFDs - on gold, silver, oil and three indices. We do not see crypto CFDs either, so here you may check our list of brokers, offering Bitcoin CFD:

 

>>Bitcoin Forex Brokers<<

 

Unclear trading conditions

 

With Fair Lane you can open a Floating Spread Account with spreads advertised to start from 0,9 pips and a Fixed Spread Account with spreads starting from 1,9 pips. And although this might not seem too bad, when tested a Demo Account we were horrified to see the EURUSD spread fluctuating between 3,4 and 3,6 pips. Here you can check our list of brokers offering tighter spreads: 

 

>> Lowest spread forex brokers<<

 

No information about payment methods

 

With most forex brokers you can deposit or withdrawal funds with all major credit or debit cards like Visa and MasterCard, e-wallets such as PayPal, Skrill and Neteller, bank wire or even Bitcoins. 

 

There is no information on Fair Lane website about payment methods and this is a clear minus. Here you may check our list of brokers, accepting Bitcoins:

 

>>Forex Brokers Accepting Bitcoin<<

 

No information about the minimum deposit requirement either

 

With most brokers you can open an account with 100 USD or less and with some big players such as IG you can start trading with just 1 USD.  Unfortunately we were not able to find any information about the minimum deposit requirement on the broker's website.

 

Conclusion:

 

Fair Lane is an offshore, unregulated broker with limited credibility. Apart form that trading conditions are mediocre and the choice of forex pairs is scarce. 

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Traders` reviews for Fair Lane

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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