Forex

FXSOL FX Solutions Review

FXSOL Review | FX Solutions Forex Broker | fxsol.com | Forex Trading
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9 REVIEWS

FXSOL execution and slippage

1.36 pips

 

Slippage is the difference between the price at which the order has been placed and the price at which it has been executed by the broker. The less slippage you get, the better your trading results will be.

 

Our slippage data about Fx Solutions is sampled by 10 of the most popular forex trading strategies in Zulutrade.com

0.57 pips

FXSOL slippage with Kama-spot trading strategy

Kama-spot is a forex trading strategy, based on technical analysis. It trades mainly EUR/USD, GBP/USD and USD/CHF

Average profit:                14.0 pips
Average trade lifespan:  19 hours
Most traded pairs:               EUR/USD, GBP/USD and USD/CHF

 

0.85 pips

FXSOL slippage with Saved FX trading strategy

Average profit:                  16.0 pips

Average trade lifespan:    1 day

Most traded pairs:                 EUR/USD, GBP/USD, USD/CHF
1.16 pips

FXSOL slippage with Qurenix trading strategy

Average profit:                  9.0 pips

Average trade lifespan:  5 hours

Most traded pairs:             EUR/USD
0.80 pips

FXSOL slippage with Forex Cruise Control trading strategy

Average pips/trade:           5.0

Average trade lifespan:   18 hours

Most traded pairs:              GBP/USD
0.68 pips

FXSOL slippage with For333 trading strategy

Average pips/trade:           12.0

Average trade lifespan:   15 hours

Most traded pairs:              GBP/USD, EUR/USD, AUD/USD
2.62 pips

FXSOL slippage with Azar Consulting trading strategy

Average profit:                   28.0 pips

Average trade lifespan:   3 days

Most traded pairs:               EUR/USD
0.52 pips

FXSOL slippage with The Best Player trading strategy

Average profit:                  22.0 pips

Average trade lifespan:   13 hours

Most traded pairs:               EUR/USD
0.46 pips

FXSOL slippage with Xiaolidao trading strategy

Average pips/trade:           9.0 pips

Average trade lifespan:   1 day

Most traded pairs:               EUR/USD
1.82 pips

FXSOL slippage with Youron trading strategy

Average profit:                  9.0 pips

Average trade lifespan:   11 hours

Most traded pairs:               EUR/USD, GBP/USD
4.13 pips

FXSOL slippage with Duanxian(GBP\USD) trading strategy

Average profit:                      10.0 pips

Average trade lifespan:      1 days
 
Most traded pairs:                   EUR/USD, NZD/USD, GBP/USD

Trading Accounts

 

Account type Minimum deposit  Minimum trade size Maximum leverage Spread
Standard $250 0.1 1:50 3 pips, fixed

 

FX Solutions provides a single type of trading account with fixed spreads and leverage up to 1:50 on the good old MetaTrader 4. Unfortunately, there are no micro lots available for trade with this broker.

 

The Company. Security of Funds

 

Company

Country

Regulation

Gain Capital UK Limited

UK

FCA

 

FX Solutions, or FXSol, is a forex and CFD broker operating out of the United Kingdom, after shutting down its U.S. operations in 2013. Back then, Forex.com took over FXSol's U.S. customer base and currently the FX Solutions brand is currently operated by Gain Capital UK Ltd. – a company authorized and regulated by the Financial Conduct Authority (FCA). 

 

In order to acquire a license from the UK financial watchdog, brokers have to provide proof of financial stability: they must hold at least €730 000 net tangible assets and maintain it. Besides, client funds have to be kept in segregated accounts, separated from the company’s operational funds, and brokerages are required to deliver regular financial reports and accounts on conducted trades, among other things.

 

FCA regulation also involves additional customer protection, since clients of licensed companies fall under the umbrella of the Financial Services Compensation Scheme (FSCS), where the maximum compensation cover is £50,000 per person in the event that a broker becomes insolvent.

 

GAIN Capital is one of the biggest providers of online trading services and is one of the few left to operate on the US market. It is active in North America, Europe and the Asia Pacific regions, serving both retail and institutional clients. 

 

The Gain Capital Group is operating a number of brands, including the brands Forex.com, GTX, City IndexFinSpreads, among others.

 

Trading Conditions

 

Minimum initial deposit

The minimum initial deposit required to open an account with FX Solutions is average, amounting to $250.

 

Average Spreads & Commissions

FX Solutions is a fixed spread broker and as is usually the case with such companies, no commission fees apply. Unfortunately, spreads offered by FX Solutions amount to 3 pips on the  the EUR/USD pair, which is not a tempting offer, to say the least.

 

In comparison, another UK brokerage, FxPro, offers spread fixed at 1.6 pips on the EUR/USD, and its variable spreads are of course, even lower. For further information you may look up real-time spreads of 15 leading brokers here.

 

Maximum Leverage

The maximum leverage provided by FX Solutions is low, up to 1:50. Other FCA-regulated brokers, like FxPro both provide leverage up to 1:500.

 

We advise traders to be careful with higher leverage levels, as they involve greater risk i of losses which may exceed initial investments.

 

Trading Platform

 

Clients of FX Solutions are offered the renown MetaTrader 4 (MT4), available as desktop, web and mobile versions.

 

MT4 is user-friendly and offers a wide range of technical analysis indicators, advanced charting package and extensive back-testing options. Besides, traders can fully automate their trades by Expert Advisors (EAs). Here is a list of more forex brokers offering MT4 platform.

 

FX Solutions’ web-based platform. Click for a larger image.

 

Methods of Payment

 

This broker supports limited payment methods – just bank wire transfer and credit/debit cards. 

 

Conclusion

 

FX Solutions is UK brokerage brand operated by leading global broker Gain Capital. Although it charges no commission fees, its spreads are high and besides, FX Solutions acts as a Market Maker. To sum up the above, here are the Pros and Cons with regard to this brokerage:

 

Pros

Cons

Strong regulation

High spreads

Commission-free trading

Limited payment methods

Part of a global major brokerage group

Market Maker model

 

No choice of trading platforms

 

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Spread

 Fixed spreads: EUR/USD -3 | GBP/USD - 5 | USD/CHF - 4 | USD/JPY – 3

 

Pros

Cons

Fixed Spreads during all market conditions, even durign news releases 

Wide spreads 

 

Slippage

 

Pros

Cons

 N/A

 

 

Slippage during news releases

Slippage during normal market conditions. Customer service reps explain it with FXSOL Fast market policy 

 

Requotes

 

Pros

Cons

No requotes during calm market

 

 

Requotes during volatile market

Slow execution of market orders

"Rate has expired" message 

 

Price feed

 

Pros

Cons

N/A

 

Some Spikes

 

 

Platform

 

Pros

Cons

Reverse Button

Trailing Stop

Hedging

Reliability 

Detached charting package FX AccuCharts

No Autotrading

 

 

 

Deposit/Withdraw

 

Deposit

Withdraw

Deposit    Withdraw

Bank Wire

Online Check

Paper Check

Credit card

 

Bank Wire

Check

 

 

 

 

 

Customer service

 

Pros

Cons

Phone

Live Chat

E-mail 

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Summary

 

Pros

Cons

Fixed spreads
User friendly platform
Regulated 

 

Wide spreads
No integrated charts
Slippage during normal market conditions
Slow execution
Some spikes 

 

Traders` reviews for FXSOL

I tried to withdraw my money

There is something fishy when a demo offers something that they dont actually offer. Also, when I tried to withdraw my money, they told me I need to send them my drivers license, bill statement, and a photocopy of my credit card before I could withdraw my money. They seemed happy to take my money without those things!

LIMAFX 01/18/2015

FX Sol has the best charting I have seen

In my opinion, FX Sol’s execution is perfect and their charting is fantastic – it is well worthy to sign up with them even only for the charts. The other brokers I have used before all had limited charting options, so I highly recommend FX Sol to any beginner or day trader.

Martha Williams 06/25/2012

FXSOL EA trading review

I started using FXSOL 3 years ago as a newbie. Now I used EA’s for scalping and they don’t seem to mind, so that’s cool. I admit that from time to time they would hunt SL’s but I believe all brokers do that. The FXSOL services have always been good – I’ve never had multiple requotes or anything like that.

tim 05/14/2012

FXSol Australia (MT4 Platform) is real robber

FXSol/Australia (MT4 Platform) is real robber! Last week they open trade for me with $790 loss. This morning (12/4/2009 Canadian Employment Change, 7AM), trading on news, I closed a position with about $2400 profit, to realize that they closed at same price at which was open ($0 profit). Responce: It was gapped and should not open! Graph shows that price did not gap. During NFP (8:30 AM, 12/3/09) I had a profit of $4345.05 just to realised an hour later that they took my profit - rationale: improper trading profit. When I complained about that, they deactivatedmy account. They also deactivated another account which I did not use for a months!

Leotar 12/05/2009

I love FX solutions trading platform

I love FX solutions platform. I highly reccomend it. what i dont reccomend is there customer support unless you are dealing with Joseph Oropeza. If it wasnt because of Joseph i would have never known the benefits of dealing with the GTS Pro. If you do decide to go with FX solutions i suggest you contact joseph at joropeza@forexsystems.com .

Carlston, forexf1.com 08/28/2009

FX Solutions Scam

Total Scam:
1- High level of slippage.
2- Big rollover or overnight fees.
3- Poor execution if the customer order is not favorable to the company interest. Some times fill out is more than 2 minutes or till you're losing money (even in low demand times).
4- Bad customer service including no product knowledge.

Forexrater, Goforex.net 08/28/2009

I don't like FxSol forex trading platform

Poor explanations regarding swap. Not the best design for the interface, difficult to use. Unpleasant people to deal with.

ForexPP, Goforex.net 08/28/2009

Fx Solutions is a real deal

From my experience, Fxsolution is the real deal. I opened an account easily, made 25000 dollars with 1500 $, withdrew it all and received my money in 2 days ! Spreads stayed fixed, stops were not hunted ( then again I dont use them a lot ) And if they trade against us like many say, who cares? If you have a good strategy, there is no problem. I will not give more than7 since I dont have more than 2 months experience with them.

Leo, Goforex.net 08/28/2009

FxSolutions: Slippage and off market prices

My findings show that they've ripped me off via the following unscrupulous methods:

1. Repeated and frequent slippages that can add up my trading costs by as high as an additional 100 pips more per lot per trade!
2. Even when no slippages occurred, the actual price captured in my statement is often a few pips more than what appeared on the screen when a trade is executed.
3. Their dealers entered my open positions and exited them without my instructions. Initially they denied doing so, but eventually offered to compensate me with a few thousand dollars as settlement, but I didn't accept because they cheated me many folds more.
4. They have dealers to trade against me.
5. They fixed off-market prices by as high 152 pips via Gapping, when at that identical time a check with two other brokers' platforms showed no price gaps at all.
6. They manipulated prices to STOP out trades that have STOP LOSS level set, even as far away as over 100 pips!
7. They manipulated the MACD indicator that traders usually relied upon, to trick them into entering trades in the wrong direction.

Cirippedoff, Goforex.net 08/28/2009
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