FXtrds Review - Is it scam or safe?

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Trading Accounts

Account type	Minimum deposit	Maximum leverage	Spread
Standard	$100	1:100	From 1.8 pips

FX Trader (operatting the domain fxtrds.com) is forex broker, which places great focus on the Chinese market. The English version of their website feels slightly clunky and is missing a few key points of information.

The Company. Security of Funds

Company	Country	Regulation
FX TRADER PTY LTD	Australia	ASIC

FX TRADER PTY s the company behind this broker. It is registered in Australia and more importantly is regulated by the local financial watchdog.

The Australian Securities and Investments Commission (ASIC) is on of the globally respected watchdogs. They require minimum capital holdings of AUD 1 million, from companies wishing to register as forex brokers. This rule alone prevents most scammers from registering, as they simply can not afford such a sum. Furthermore ASIC forces companies to keep client funds in the so called segregated accounts. This means a forex broker, registered with ASIC, can not take funds from its clients’ accounts and spend them for company purposes.

Trading Conditions

Minimum Initial Deposit

The minimum initial deposit at FX Trader is $100. This is pretty much the industry average nowadays. Many brokers, such as easyMarkets, require this level.

Keep in mind, the minimum deposit should not play a crucial role when chosing a broker, as long as you can afford it. This is probably the most important rule in trading – do not risk money you can not afford to lose.

Average spreads & Commissions

Spreads at FX Trader, start from 1.8 pips on EUR/USD. This is slightly higher than the current industry average, which is around 1.0-1.5 pips. While testing the broker’s platform we found the spread fluctuation above 2 pips in the early part of the US trading session. While this is in-line with their claims, it is still slightly higher. Did you know, you can compare the conditions provided by some of the world’s leading brokers, in real-time, via our dedicated page?

Leverage

The maximum leverage at FX Trader is 1:100. Although this is a perfectly fine ratio for most trading systems, nowadays brokers provide even higher leverage ratios.

Remember, high leverage can be dangerous, especially in the hands of a new trader. Familiarize yourself with the basics of margin trading and risk management early on in your development as a trader.

Trading Platforms

FX Trader provides MetaTrader4 (MT4) to its clients. This is the world’s most popular trading platform (when it comes to currency trading). It has earned its popularity, due to the amazing charting capabilities. Some traders, who trade with different platforms still keep a demo version of MT4 running, only to do their technical analysis on it.

That being said, the platform’s most unique feature is the programming environment, which allows the creation of new technical indicators and automated trading systems, also known as Expert Advisors.

Here is a preview of the MetaTrader platform provided by FX Trader (click to zoom-in):

Methods of Payment

FX Trader does not provide any information on the payment methods it allows clients to use. Given their focus on China, we suspect UnionPay is supported. Westerners will prefer options like Skrill or PayPal.

Conclusion

FX Trader is a forex broker, which focuses on the Chinese market. The company is regulated by the Australian Securities and Investments Commission (ASIC), which gives them a lot of credibility. Trading conditions are not too bad, but are nothing special, when compared to the current offers by other brokers. Here are this broker’s pros and cons:

Pros	Cons
ASIC Regulation	Higher than expected spread
MetaTrader4 Platform	Lack of some information on the website

Latest news about FXtrds

No news about FXtrds. Check back later.

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Broker	Country	Regulation	Platform	Min Deposit	Review
	Cyprus, UK, Mauritius	CySec, FCA, FSC	MT4, MT5, Web	$10	Review Website
	UK, Bulgaria	FCA, FSC	Web	€29	Review Website
	Australia	ASIC	MT4, MT5, IRESSTrader	$100	Review Website
	Cyprus, Australia	CySec, ASIC	MT4, MT5	$5	Review Website
	UK, Australia, South Africa	FCA, ASIC, FSCA	MT4, Trading Station, NinjaTrader	$50	Review Website
	UK, Cyprus, UAE, South Africa	FCA, CySEC, DFSA, FSB	MT4, MT5, FxPro Markets, cTrader	$100	Review Website
	Cyprus	CySEC	MT4, MT5, Web	$1	Review Website
	Belize	IFSC	MT4, MT5	$100	Review Website
	Cyprus, UK, South Africa, UAE	CySec, FCA, FSCA, DFSA	MT4, MT5, Web	$5	Review Website
	Cyprus, UK	CySEC, FCA	MT4, MT5	$1	Review Website
	UK	FCA	MT5	$5	Review Website
	UK	FCA	MT4, Web, MT4 for Mac	$100	Review Website
	Australia, UK	ASIC, FCA	MT4, MT5, cTrader	$200	Review Website
	UK, Cyprus, Dubai	FCA, CySEC, DFSA	MT4, MT5, Web, PrimeTrader	$100	Review Website

Traders` reviews for FXtrds

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