Forex

FXANE.com Review - Is it scam or safe?

AnalyTrade Review - is anefx.com scam or safe forex broker?
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Trading Accounts

 

Account type  Minimum deposit  Maximum leverage Spread
Standard $500 1:200 From 2.1 pips
Professional $5,000 1:400 From 2.1 pips

 

Analytrade, which operates the fxane.com domain is a forex broker, which focuses on the Chinese market. This is easy to tell, as the Mandarin website is maintained better than the English one.

 

The Company. Security of Funds

 

Company Country Regulation
ANALYTRADE PTY LTD. Australia ASIC
Analytech (HK) Ltd. Hong Kong SFC

 

AnalyTrade apears to be operating out of Honk Kong, although the oarent company is registered in Australia. This broker is regulated by several agencies, including the Australian Securities and Investments Commission (ASIC), one of the most reputable watchdogs. Furthermore, the company has a Hong Kong license, due to the local regulatory requirement – a broker can only offer its services to Hong Kong residents, if it is registered with the local SFC.

 

Financial regulation probably is the most important aspect of a broker’s identity. Companies who follow stringent rules are forced to give traders a fair environment. Trading the dynamic global financial markets is hard enough, with a credible broker, but doing it with a scammer is impossible. The ASIC licensing, which AnalyTrade has, mandates the company must keep clients’ funds separate from the company’s. This is called the segregated accounts rule and is crucial towards preventing fraud. Furthermore, any broker applying for an ASIC license must have at least AUD 1 million in capital holdings, to prove they have a long-term outlook and can withstand capital shocks.

 

 

Trading Conditions

 

Minimum Initial Deposit

FXANE has set the minimum initial deposit at $500. This is higher than the demands of most brokers, nowadays. On the other hand some companies have even removed the entry barrier entirely. You can open an account with the FCA-regulated broker and spreadbetting provider IG, with as low of an amount as you feel comfortable.  

 

Of course, this factor should only be of importance to less experienced traders, who want to feel what a real money account feels like, without risking a lot. Trading veterans will tell you, serious trading requires serious capital. 

 

Average spreads & Commissions

Spreads at FXANE are variable, with our tests showing a minimum of 2.1 pips on EUR/USD. This is higher than the current industry averages, which gravitate around 1.0-1.5 pips, for this pair. You may think the difference is not that big, but it will add-up over time. By the way, you can view our live comparison, of the conditions offered by leading FX brokers here.

 

Leverage

FXANE provides a maximum leverage of 1:400 for premium account holders. Standard clients will be limited to 1:200. Both of these levels are high, so don’t worry if you can’t afford the premium account. In fact, they are so high, they can be dangerous, if you do not know what you are doing.

 

Trading Platforms

 

FXANE offers the popular MetaTrader 4 (MT4) platform. Lots of technical traders love this piece of software, as it provides excellent charts and has basically all the indicators you can think of. If there are some you can name, which are not present by default, you would definitely find them in the MQL marketplace – MT4’s online shop for extra trading tools. While technical indicators are popular, automated trading systems are also available. They are called Expert Advisors and by the way, you can read our reviews on some of these systems here.

 

Methods of Payment

 

There is no information on the payment methods available at FXANE. We suspect they would support China Union Pay, given their focus on the country.

 

Conclusion

 

AnalyTrade, which operates the domain fxane.com, is a forex broker, which is regulated in Australia and Hong Kong. There company has a major focus on the Chinese market. The trading conditions are nothing special and by the way information regarding them is limited. Here are is a list of this broker’s strong and weak sides:

 

Pros Cons
Solid regulation High Spreads
Meta Trader 4 platform Lack of information on the English website

 

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Spread

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Price feed

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Customer service

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Summary

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Traders` reviews for FXANE.com

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