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Forex Metal Forex Metal Review

Forex Metal Review, Rating and Comparison | Forex metal broker

RATING: 1.3 / 2 REVIEWS ForexBrokerz Forex Metal
Forex Metal is an offshore broker. Your money is not safe.

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Scammed by Forex Metal? Click here!

Trading Accounts

 

Account type Minimum deposit  Minimum trade size Maximum leverage  Spreads 
Standard $1 0.01 1:2000 From 1.5 pips on EUR/USD
ECN  $1000 0.1  1:100 From 0.2 pips on EUR/USD + 0.004% per lot
Professional $10 000 0.1 1:500 From 0.4 pips on EUR/USD

 

Clients of Forex Metal are offered a choice of three trading account types: a Standard commission-free one with no minimum initial requirement, where micro lots are available for trade, and ECN account offering tighter spreads, but involving commission; there is also a Professional account type, which also is commission-free, but requires high minimum initial deposit – $10 000.


What is more, this broker provides Islamic (swap-free) accounts which completely satisfy Islamic religious prohibitions of not receiving or paying interest. Those accounts do not have any swaps calculated for open positions. There could be a small maintenance fee taken at the end of each trading day.


If you are new to the forex trading and don’t know where to start, you can participate in the forex market and make profits without actually making trades yourself. Like most brokers, Forex Metal provides various Managed account solutions, the minimum initial deposit for which is $1000.


The Company. Security of Funds


Forex Metal is an offshore forex broker headquartered in Panama, offering over 60 currency pairs, oil and index CFDs precious metals, as well as binary options for trade.


Althogh this broker has almost 10 years of experience in the FX business, it is not regulated. The site forex-metal.com even does not indicate the company which operates it. That is why, if you intend to invest a large amount of funds, we advise you to select among well-regulated brokers, keeping client funds in segregated accounts, regularly reporting to the respective authorities and adhering to a number of rules that guarantee their good financial standing and non-fraudulent practices. 


Trading Conditions


Minimum Initial Deposit

In order to open an account with Forex Metal, one may deposit just $1, which is an attractive, yet reasonable offer, considering that this broker is not regulated. In comparison, ForexBrokerInc, registered ion the Marshal Islands, demands $100 for all account types as a start.


Average spreads & Commissions

Forex Metal provides floating spreads, which vary depending on the account type. The ones on the Standard account are averaged around 1.8 pips on EUR/USD, which is a comparatively high value for the forex market. However, no extra charges apply, as this account is commission-free.


ECN spreads, on the other hand, start from 0.2 pips on EUR/USD, but a commission of $4 per standard lot applies, so minimum trading cost per lot are around 1 pips, which is comparatively low for the FX market.


In comparison, Belize-based FX Choice offers variable spreads averaged 1.2 pips on EUR/USD on its commission-free account, while the Pro account provides spreads from 0.5 pips on EUR/USD, and a commission of $3.86 per lot (per side). For further information, you may look up and compare real-time spreads of 15 leading brokers here.


Maximum Leverage
This broker offers dynamic leverage up to 1:500, which is a relatively high ratio. Most brokers provide maximum leverage levels between 1:200 and 1:400. More forex brokers offering leverage equal to or exceeding 1:500 can be checked out here


What is more, Forex metal states that leverage higher than 1:500 is also possible upon request (up to 1:2000). Please, be advised that higher leverage levels carefully, for they may not only multiply their profits on a small deposit, but also lead to heavy losses in excess of initial investments.


Trading Platform


Like most brokers, this one supports MetaTrader 4 (MT4), available as a desktop and mobile version. MT4 is the preferred choice of most experienced traders, as the platform offers a number of technical indicators, advanced charting package, a wide range of Expert Advisors (EA), allowing clients to fully automate their trades, and extensive back-testing environment.


EAs are advanced automated trading systems written in MQL4, that are able to analyze market conditions automatically, open/close positions and place/modify/delete orders, so that traders are free from manual trading routines.


Moreover, Forex Metal has partnered with FX Replitrader to provide traders with forex signals. FX Replitrader is an automated trading system, which lets traders receive daily trading signals for free. FX Replitrader incorporates signals, sent from experienced and professional traders and signal providers from around the world into its trading system, which is fully compatible with Metatrader 4 platform. The Minimum deposit required to join to start receiving signals is $500.


Promotions
By the time of writing this review, Forex Metal runs the following promotions:


- 100% on deposit bonus, which may not exceed $15 000;
- Losses refund from the first five open trades up to the deposit (Minimum deposit required – $250), but may not exceed $500.;
- Rebates of 0.5 pip per lot (deposit of at least $100 required)
- a Virtual Visa credit card equal to 1% of the deposit for deposits amounting to at least $5000.


Methods of Payment


Forex Metal offers its clients a wide range of payment options: bank wire, credit card, e-wallets Neteller, Skrill, FasaPay, POLI, Perfect Money, Yandex, mBank, Bank Pekao, pagosonline, giropay, ePay.bg, Perfect Money, Sofort banking, UnionPay China, Allpay.com and Bitcoin. In fact, Forex Metal is the first forex broker to offer Bitcoin as deposit option.


Conclusion


Forex Metal is a Panama-based broker with almost 10 years of experience on the FX market. It offers reasonable trading conditions and attractive promotions. The only concern one might have with this broker is the fact that it is not regulated. Here are, in a nutshell, the advantages and disadvantages of Forex Metal:

 

Pros  Cons
Comparatively low ECN spreads Lack of regulation
MT4 available No choice of trading platforms
High leverage levels offered  
Attractive bonuses and rebates available  

 

Latest news about Forex Metal
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Traders` reviews for Forex Metal

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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Summary

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Forex Metal RIPPED US OFF!!! Names REVEALED! (e-ForexGold.com too!)

We expose Forex Metal and owner VLADISLAV KOGAN (Born 1973, living in Sydney, Australia) in this Video:
https://www.youtube.com/watch?v=SMruhPTsXBY

We will post this info at many popular trading forums (complete list under video); many already have posts on Forex Metal.

Where possible, we will start a new thread “Forex Metal Ripped Us Off!” for victimized traders to post comments.
To warn other unsuspecting traders, we will also post in the most viewed relevant threads.
Search “Forex Metal” for specific threads until we list them under Video Description.

We suspect Forex Metal created several personalities or used its affiliates either to say what a great broker they are or to market promotions, or both. Usually details are vague. Click on the names; often all their posts talk more about Forex Metal than actual trading.

We apologize for any repetition, but VLADISLAV KOGAN must be stopped from ripping off traders.

Rather than reposting at every site, WE WILL POST THE LATEST UPDATES AND LINKS IN ONE PLACE, UNDER THE VIDEO’S “DESCRIPTION.”

Please post your personal stories in this forum, and ALSO under the VIDEO’S “COMMENTS,”
This way, you have a record of your post at each forum and well as at one CENTRAL LOCATION for ALL traders to share comments.

A fellow trader that produces many videos exposing Forex, binary trading, and other financial scams has also created videos about Forex Metal:
Forex Metal - Avoid this Broker:
http://www.youtube.com/watch?v=BbK6gzCYvOc
Forex Metal - This Broker is a Scam, BEWARE:
http://www.youtube.com/watch?v=nbBT6hOqYDw
Forex Metal - Use this Currency Broker and Feel the Pain:
http://www.youtube.com/watch?v=9IQEuzLJbBk

He also recommends that victims create and post their own videos (Ezvideo.com is free and simple), and include a link to our detailed video.

VLADISLAV KOGAN is Forex-Metal Payments Department at
payments@forex-metal.com
Traders, let him know what you think of Forex-Metal.
Email him your comments and copy his employees at:
business@forex-metal.com
contact@forex-metal.com
info@forex-metal.com
support@forex-metal.com

If VLADISLAV KOGAN eventually returns ALL of our funds, we will post that information in the future.

Traders, thank you all for your time, as well as any additional help or information you may offer.

Don Julio 06/19/2014
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