FXFlat FXFlat Review

FXFlat forex broker review and rating | FlatTrader
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Trading Accounts

 

Account type  Minimum deposit Minimum trade size Maximum leverage Spread
DE account €200 0.01 1:400 from 0.8 pips

 

FXFlat offers a single forex account, through which its clients can trade with variable spreads, no commission fees and leverage up to 1:400 leverage. Micro lots are available upon request.

 

What is more, FXFlat is one of the few remaining big introducing brokers operating in Germany and it offers separate GB account types, referring clients to UK brokerages Alpha Capital Markets, FXCM and GFT Markets (a UK brand of Gain Capital).

 

PAMM services are also available with this broker, backed by the renowned asset management of the FXFlat securities trading bank.

 

The Company. Security of Funds

 

Company

Country

Regulation

FXFlat Wertpapierhandelsbank GmbH

Germany

BaFin

 

FXFlat is a German online the Forex and CFD broker founded in 1997. As we have mentioned, it is also a large and well-known Introducing Broker (IB).

 

FXFlat is a brand owned by FXFlat Wertpapierhandelsbank GmbH, an independent asset management company, headquartered in Ratingen near Düsseldorf.

 

It is licensed and supervised by the Federal Agency for Financial Services Supervision (BaFin) since 1998.  FXFlat also operates as a securities trading bank since 2015.

 

BaFin-regulated forex brokers must meet certain minimum capital requirements – they must hold at least €730,000. Also, there are reporting standards that all licensed German forex brokers must comply with.

 

Besides, there is a Compensation Scheme acting as a rescue fund for customers of failed investment firms which are licensed by BaFin. Of course, every BaFin -regulated forex broker is also MiFID compliant and therefore entitled to offer cross-border services within the EU under the MiFID Passporting Regime.

 

Trading Conditions

 

Minimum Initial Deposit

This broker requires €200 from its clients in order to open a live account, which is an average initial amount to start with..  

 

Average Spreads & Commissions

FXFlat offers relatively competitive trading conditions: commission-free trading and variable spreads, starting from 0.8 pips lot for the EUR/USD. This means that trading costs with this broker fall within the range of 1.0 – 1.5 pips per standard lot for this pair, which is average for the market.

 

In comparison, FxPro`s average spreads on commission-free accounts amount to 1.4 pips on the EUR/USD. For further information, check out and compare real-time spreads of 15 leading brokers here: http://www.forexbrokerz.com/forex-broker-comparison

 

Maximum Leverage

The default leverage rate offered by FXFlat is 1:200, and a maximum of 1:400 is available upon request. A leverage of 1:400 is considered a high ratio, as the higher the leverage, the greater the risks. Yet, many FX brokers provide leverage levels equal to or higher than 1:500, in order to tempt traders by the opportunity of making striking profits on a small deposit.

 

Trading Platforms

 

FXFlat supports the popular MetaTrader 4 (MT4) platform, available as desktop, web and mobile versions.

 

Developed by MetaQuotes, MT4 platform offers a number of built-in technical indicators, analysis options and interactive charting package. It is highly regarded by the online trading community mostly because it allows users to fully automate their trades, either by downloading ready-made or creating their own automated trading strategies (EA). Here is a list of more forex brokers offering MT4 platform.

 

 

 Besides, clients of can trade signals generated from numerous different sources. They are based, for example, on the broker-neutral Autochartist TM software, which FXFlat offers its customers free-of-charge, or on the technical analyses conducted by the FXFlat team itself. 

 

Under its partnership with FXCM, FXFlat offers its customers access to FXCM`s Trading Station with no-dealing-desk execution model. As an introducing brokerage of Gain Capital’s GFT Markets, FXFlat enables access to FlatTrader platform; and as an introducing broker of Alpha Capital Markets – to its Alpha Trader platform.

 

Promotion

This broker offers a Refer a friend bonus of 150 Euro for a first deposit of at least 500 Euro. And if the first deposit of the referred friend is 5,000 Euro and more, the bonus amounts to 250 Euro.

 

Methods of Payment

 

FXFlat offers its clients the following ways to deposit/withdraw their funds: bank wire, debit/credit cards, iDEAL, Przelewy24, and Skrill.

 

Conclusion

 

FXFlat is a well-regulated German forex and CFD broker that also acts as an IB of several major UK brokerages. It offers competitive trading conditions on the industry’s standard MT4. To sum up the above, here are the Pros and Cons with regard to FXFlat:

 

Pros Cons
BaFin-regulated, MiFID compliant  No choice of platforms within the DE account
Competitive spreads  
Commission-free trading  
MT4 available  

 

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Spread

Variable spreads
Typical spreads:   EUR/USD -1 | GBP/USD –2 | USD/CHF -2 | USD/JPY –1

Pros

Cons

No Commissions 

Spreads widen up during volitile market

Slippage

Pros

Cons

No slippage during normal market conditions

Slippage during news releases 

 


 

Requotes

 

Pros

Cons

No requotes during normal market conditions

 

Requotes during news releases

 

 

Price feed

 

Pros

Cons

No stop hunting

No price manipulaton 

Some spikes 

 

 

Platform

Pros

Cons

FlatTrader

WebTrader

Very intuitive and easy to handle

Decent charts

N/A




 

Deposit/Withdraw

 

Deposit

Withdraw

Wire Тransfer

Credit Card

Wire Тransfer

Credit Card 

 

Customer service

 

Pros

Cons

Customer service reps are polite and ready to help

Phone

E-mail  

No Live Chat 

 

 

 

Summary

Pros

Cons

 

 

Traders` reviews for FXFlat Add review

FX Flat is a reliable broker

I give a positive review to FX Flat because they have a tight spread, there’s almost no requoting and slippage, smooth execution. Payments are done quickly, never had a problem with deposits or withdrawals.

Martin 06/25/2012

FxFlat refunded me $300

FXFlat offers you the exact trading conditions as thair U.S. partner GFT. The only difference is that FXFlat customers benefit from an additional support.

I opened an account with FXFlat and losed over $300 in first day of trading. Fortunately it is Forex Airbag account and they refund it :)

GFan 08/03/2011

FxFlat Autochartist is my favorite forex software

With FxFlat I enjoy wide range of trading software and tools for free.


Autochartist is my favorite piece of software. It auto-identificates chart patterns and Fibonacci patterns like triangles, wedges, double tops and double bottoms and notifies me without personal attitude.

Sreads are pretty tight most of the time, EURUSD typical spread is below 2 pips.

Order execution is fast, no massive slippage.

Fx Max 07/07/2011