Sponsored By
de | cn | ru

Flatex Review - is it scam or safe?

Flatex Review - Is flatex.de scam or good forex broker?

RATING: 3.3 / 1 REVIEWS Flatex
FIND BETTER FOREX BROKER

RECOMMENDED FOREX BROKERS


Flatex is brand of  FinTech Group Bank AG - a German public company, offering online brokerage and specialist banking services. Flatex is the online broker of the Group, where you can trade forex and CFDs, but also invest in ETFs and even buy Bitcoins. Here you can find more details about their trading conditions.

 

Account type Min. deposit Max. leverage Spreads
Standard Account $1 1:100 1,1 pips, floating

 

Flatex Advantages:

 

Sound regulation

 

As we already mentioned Flatex is a brand of FinTech Group Bank AG, which is a public company, listed on the Deutsche Borse, that holds a banking license in the Bundesrepublik. That makes Flatex a legit and reliable broker, although it is not regulated specifically by any of the major forex industry regulators, such as the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK or the Australian Securities and Investments Commission (ASIC).

 

Choosing to trade with a soundly regulated broker is crucial for the security of any investment. 

 

Regulated brokers have to follow strict fiscal rules, including to maintain a certain level of operational capital. They also have to keep all clients funds in a segregated, protected form creditors account and in some cases even to insure traders capital.

 

FCA and CySEC brokers for example have to participate in client compensation mechanisms. Under the FCA backed Financial Services Compensation Scheme traders can receive back up to 50 000 GBP of their capital in case their broker goes insolvent, while with a similar insurance scheme, clients of CySEC brokers can receive back up to 20 000 EUR. Here you can check our list of brokers licensed by the FCA:

 

>>FCA Regulated Forex Brokers<<

 

Great variety of investment instruments

 

As tested with a Demo account, the Flatex trading platform has some 38 forex pairs, including exotic currencies like Hungarian Forint, Norwegian Kroner, Polish Zloty, Swedish Krona, South African Rand, Czech Krona and Singapore Dollar. The broker also offers CFDs on spot metals like silver and gold, oil, indices and bonds.

 

However, what makes Flatex interesting, is that it offers traders the opportunity to buy ETFs, stocks and even Bitcoins.

 

Goldman Sachs partnership

 

Recently FinTech Group and Goldman Sachs established an ETP (Exchange Traded Products) partnership. Starting from March 15, 2018 the German bank started offering Goldman Sachs products to Flatex customers at a minimal flat fee of EUR 1.90. This is a significant milestone for FinTech Group's online broker Flatex, as it expands its market presence, trading certificates and warrants.

 

Competitive spreads

 

As tested with a Demo Account the EURUSD spreads was around 1,1 pips, which is well in line with what traders consider competitive with a standard account. Besides Flatex does not take a commission on the trade. Still, you may want to check our list of brokers, offering even tighter spreads:

 

>> Lowest spread forex brokers<<

 

Reasonable leverage

 

The leverage the broker offers is 1:100 and we consider this to be enough to accommodate any trading strategy. Still, having in mind that higher leverage means higher risk, you may want to check our list of brokers, where you can trade with a leverage of up to 1:500 and above:

 

>>Forex Brokers Offering 500:1 Leverage<<

 

No minimum deposit requirement

 

Flatex has no minimum deposit requirement to open an account, except that you should be able to cover the margin of your trade. This is in line with the best practices on the market. We should note that with well established brokers, such as XMFXTM and IG you can also open a trading account with just 5 USD or less.

 

MetaTrader4 supported

 

MetaTrader4 is a state of the art trading platform that has become an industry standard for the past decade. Besides its user friendly interface and intuitive charting tools, MT4 has more than 50 in-build market indicators, which, along with its trading bots or Expert Advisros, you can easily modify on specially designed editor. And yes, with MetaTrader4 you can run automated trading sessions – probably the feature that has made the platform so popular in the first place. Here you can check our list of brokers, also offering the MetaTrader4:

 

>>Find other MT4 brokers here<<

 

Flatex Advantages:

 

No information about the 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 and even Bitcoins. 

 

Unfortunately there is no information on the Flatex website about payment methods, so here, if you prefer, you may check our list of brokers accepting Bitcoins as payment:

 

>>Forex Brokers Accepting Bitcoin<<

 

Conclusion:

 

Flatex is a reliable broker, part of a well established German banking group, that offers not only forex and CFDs with good trading conditions, but also ETPs via their partnership with Goldman Sachs.

Latest news about Flatex
No news about Flatex. Check back later.
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Belize CySec, FCA, IFSC MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC 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, South Africa CySec, FSCA, FSC MT4, MT5, Web $5 Review Website
Cyprus CySEC MT4, Web $25 Review Website

Traders` reviews for Flatex

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

 

 

Flatex - Abzocke!

Nach laengerer inaktivitaet musste ich feststellen , das mein Konto bei Flatex mit 1108 euros belastet wurde , ohne eine Erklaerung dafuer zu erhalten .
Zudem kuendigen sie mir , wieder ohne Erklaerung .
Sie drohen meine restlichen Aktien ohne meine Einwilligung zu verkaufen um das Konto , welches sie selbst willkuerlich belastet haben , auszugleichen !
Falls der Ertrag aus den erzwungenen
Verkaeufen nicht reichen sollte um das Konto auszugleichen , drohen sie mir "rechtliche Schritte " an !
Bin seit vielen Jahren bei denen Kunde gewesen , mein Konto war immer im plus .

Totale Abzocke , geht vor Gericht ...!


Translated by Google:

After a long period of inactivity, I found out that my account at Flatex was charged 1108 euros without receiving an explanation for it.
In addition, they announce me, again without explanation.
They threaten to sell my remaining shares without my consent to balance the account, which they have arbitrarily charged themselves!
If the income from the forced
Sales should not be enough to balance the account, they threaten me with "legal action"!
I have been a customer for many years, my account was always in the plus.

Total rip-off, goes to court ...!

Steffen Meusel 12/06/2018
de | cn | ru