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FXPrivate Review - Is it scam or safe?

FXPrivate Review - is fx-private.com scam or good forex broker?

RATING: 1.9 / 2 REVIEWS FXPrivate
FXPrivate is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Account type Minimum deposit  Minimum trade size Maximum leverage Average Spreads
Cent $10 0.001 1:500 1.0 pips, fixed
Standard $100 0.01 1:500 1.0 pips, fixed
Classic (ECN) $200 0.01 1:200 0.7 pips + $4 / lot (per side)
Premium $10 000 0.1 1:100 1.0 pips, fixed

 

FXPrivate offers its clients a choice of several commission-free accounts with fixed spreads and an ECN one which involves a commission and provides floating spreads. Maximum leverage levels available are pretty high, reaching 1:500, and there are micro lots available for trade on all account types, except the Premium.

 

In fact, FXPrivate’s spreads are good – both variable and fixed ones. A fixed spread of 1 pips on EUR/USD is two times lower than the average, as most fixed spread brokers usually offer 2 pips spread for this pair. Trading costs on ECN accounts are also comparatively low, amounting to around 1.1 pips on EUR/USD per standard lot, if we add the commission applicable to the spread.

 

The Company. Security of Funds

 

Company

Country

Regulation

FXPrivate Company Ltd. (ДЦ «ФорексПриват»)

Ukraine

N/A

 

Established in 2011, FXPrivate is a forex broker headquartered in Kyev that offers online trading in more than 40 currency pairs and precious metals on the good old MetaTrader 4. The company operates in Asia, the Middle East, the Far East, the CIS countries, and Africa.

 

Unfortunately, its website does not provide any information regarding its regulation. Last year, the Financial Services Commission of Belize (IFSC) issued a warning against FXPrivate because the broker has been removed from the country’s International Business Companies (IBC) Register.

 

In other words, FXPrivate is not a broker legally authorized to provide online trading services and we do not recommend offshore and non-regulated brokers, as doing business with such is very risky. That is why, we strongly advise you to be cautious regarding your investments and to only choose brokers and investment companies that are regulated by reputable financial watchdogs, such as the, CySEC, FINMA, FCA, etc.

 

Trading Platforms

 

FXPrivate supports the most popular forex trading platform - MetaTrader 4 (MT4). It is available as a desktop download and mobile apps.

 

The MT4 terminal is a perfectly equipped trading terminal which provides all the necessary tools and resources to analyze price dynamics of financial instruments, execute transactions and create & use automated trading strategies (Expert Advisors).  

 

Bonuses

This broker offers a 100% on-deposit bonus up to $5000, available to all live account holders. In order to withdraw the profits from the bonus, clients have to trade a certain number of lots.

 

Methods of Payment

 

FXPrivate’s clients can use a wide range of other payment methods, including bank cards and bank transfers, online payment systems OKPay, FasaPay, Skrill, PerfectMoney, DixiPay, WebMoney, EasyPay, PayCo and LiqPay. PayCo also accepts Bitcoin deposits, using bankcards and China UnionPay.

 

Conclusion

 

FXPrivate is a forex broker that offers attractive trading conditions on the popular MT4 platform, including ECN environment. Nonetheless, we don’t recommend this broker, because it is not authorized by any regulatory body. To sum things up, here are the advantages and drawbacks with regards to FXPrivate:

                                                                               

Pros   Cons
Competitive spreads Not regulated
ECN execution  available No CFDs in indices and stocks
MT4 provided  

 

Latest news about FXPrivate
No news about FXPrivate . Check back later.
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Traders` reviews for FXPrivate

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

 

 

broker fxprivate

This is the first time I do trading at this broker by using the funds welcome bonus 10 $ hope this broker is a trusted broker and pay the client, then I will tell you if this broker is really paying

sitingafifah 06/04/2017

chunning deception fx-private

Hi friends, I am a trader at www.fx-private.com, besides I also refer fxprivate to friends to get referral commissions. After some time I have a slight advantage of referral commissions that I pull. At that time I wanted to withdraw the funds but the numbers were few, in the end I was trading in order to get a lot of money. But when I withdraw the funds so easily rejected and the benefits that I have they have taken. My charred money is not paid to me on the grounds that I have multiple referrals and blame the rules, even though I do not know the activities of the clients I recruit. With a big heart I am willing to referral commission immediately dicancel but I ask for profit from trading efforts to be paid, but the results are futile. Money is still not paid. I just suggest to friends of traders to be more careful so you do not want to regret not to spend time because trading with fx-private.

weduzzfx 06/01/2017
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