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FIXI Markets Review - is it scam or safe?

FIXI Markets Review - is fiximarkets.com scam or good forex broker?

RATING: 3.5 / 2 REVIEWS
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Trading accounts and Conditions

 

Account type
Minimum deposit
Min. trade size
Max. Leverage
Spreads
Standard
$100
0.01
1:400
From 0.8 pips
Pro
$1000
0.01
1:400
From 0 pips + $7 / lot

 

FIXI Markets is a London-based brokerage that offers two account types, both of which provide competitive variable spreads, leverage up to 1:400 and the option to trade in micro lots. One of the accounts is commission-free, while the other provides significantly lower spread involving a commission fee.

 

In addition, swap-free services are also available at FIXI Markets’ Standard accounts.

 

FIXI Markets Advanatges:

 

- Solid regulation (FCA)

The main benefit of those who choose to trade with FIXI Markets is its solid regulation. The company that owns and operates the brand, FIXI PLC is licensed by UK’s Financial Conduct Authority, one of the most reliable financial authorities worldwide. To put it simply, clients of FIXI Markets can trade with the ease of mind that their money is safe.

 

>>More FCA-regulated brokers <<

  

- Low cost of trading

Trading at both accounts offered by FIXI Markets appears to be relatively low-cost. Spreads on the commission-free Standard account are averaged 1.1 pips, which is on the lower end of average. As regards Pro accounts, they provide raw spreads and commission is charged on a tiered structure, based on volume. Clients start at $7 per lot but with increased volume it goes down to $4 per standard lot. So, the pricing of FIXI Markets seems attractive. In fact, we’ve tested the broker’s demo MT4 with a Standard account, so you can see for yourselves:

 

 

We have to point out that other FCA-regulated brokers offer even tighter spreads. For example, CFD and spread-betting giant IG  provides spread averaged 0.6 pips on its commission-free accounts.

 

 >>Compare the real-time spreads of top brokers<<

 

- Multiple platforms offered

Apart from the MetaTrader 4 platform, which is supported by more than 80% of all brokers, FIXI Markets also offers its newest version, the Metatrader 5, as well as Currenex, a professional FX trading solution.

 

While MT4 is still the most popular trading platform, lately its successor, MT5 gains popularity among forex brokers, due to the number of enhancements made lately by their developer, MetaQuotes. Metatrader 5 has great charting, much like Mt4, there are numerous indicators available, as well as Expert Advisors.

 

- High leverage levels

The maximum level of 1:400 offered by FIXI Markets will suite most trading styles. That being said, we must mention a higher ratio only gives you the ability to risk more. If you are that type of trade, you may check out a list of brokers offering even higher leverage levels below.

 

>>Brokers providing leverage of 1:500 or higher<<

 

FIXI Markets disadvantages:

 

-No significant weak sides

We could not think of any disadvantages of this broker.

 

Conclusion

 

FIXI Markets is a UK forex brokerage brand that offers access to the forex and CFD market through several trading platforms. On top of that, its trading conditions seem very attractive. Nonetheless, FIXI Markets’ main advantage over many of its competitors, is its solid regulation.

 

Forex broker regulation in UK involves strict rules on client account segregation, minimum capital adequacy, transaction reporting, and many more. More importantly, FCA provides coverage by the Financial Services Compensation Scheme (FSCS), in case a licensed broker becomes insolvent (up to GBP 50 000).

 

Actually, London-based institutional forex broker FIXI Markets launched retail trading in 2017 after a change of control at the company. The new controlling shareholder in the broker is the founder and longtime CEO of AxiTrader – a well-known Australian broker with licenses from both ASIC and FCA.

  

To sum up the above:

 

Pros
Cons
Solid regulation (FCA), part of an international group
No significant disadvantages
Competitive spreads
 
Multiple platforms (MT4, MT5, Currenex)
 
Reasonable leverage levels offered
 
Commission-free trading
 

 

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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 FIXI Markets

Very Good Regulated Broker

I'm with Fixi Markets for the past 9 Months and very happy with the support and trading conditions. I'm a trader for the last 15 years and have joined many top Forex brokers around the world and have lost to many scam brokers. Fixi Markets is one of the very few Forex brokers out there with top regulations with good support and trading conditions. There is no issues in withdrawal too. Highly recommended broker. I'm thankful to the awesome support given to me by my Account Manager Mr. Max Moriarty.

Thomas 03/09/2018

Fixi Markets - trading experience

After trying their demo, I registered Pro Account with Fixi Markets. I have been trading with Alpari and Teletrade before. However Fixi offered tighter spreads and faster execution speed. I believe it was around 100 milliseconds for any order execution.

After 2 weeks of trading I can say it has been a much better experience. However registration and account confirmation takes around 20 minutes. They requested list of documentation, probably they were verifying account(nothing too special, just ID, drivers license, address verification documentation).

I am an Algotrader and enjoyed flawless experience, sometimes execution speed was even lower than promised, lowest I recorded was 38 milliseconds, if I remember correctly.

I should note that, during market news their platform performs as usual.

Fixi's account manager was helpful and approachable. I did not really need his assistance, I just called him once while opening my account. However, he came back to me couple times.

Overall, I will keep trading with Fixi markets and update my review in case anything changes. So far, they seem reliable and I can recommend Fixi.

David Karapetian 01/04/2018
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