Broker Review - A well-equipped Forex broker
Written by:
Written on:
6 August 2022
Last edit:
5 March 2024
Our rating:

7.4 Broker Review - A well-equipped Forex broker
Written by:
Written on:
6 August 2022
Last edit:
5 March 2024
Our rating


CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
See how compares to it's closest alternatives.

Main summary

Founded in 2001, quickly became one of the leaders in the financial markets, providing services to traders around the world. is registered with the Cayman Islands Monetary Authority (CIMA) and is also regulated by top-tier authorities such as the FCA, FSA, and ASIC to name a few.

With the main purpose of trading currencies to its clients, now offers more than 9,638 financial assets including stocks, commodities, indices, cryptocurrencies, and many more. Trading is processed with different forms of fees and varies between fixed fees and variable spreads.

There are no deposit or withdrawal fees, but the broker charges inactivity fees. The minimum deposit requirement is $100 which attracts many traders to start working with this broker. The following guide will discuss the full list of services and offers that you can find at

Here Are the Pros and Cons

  • Regulated by top-tier authorities
  • 9,638+ financial assets are available 
  • Providing services in more than 140 countries
  • Variety of trading platforms
  • Comprehensive educational materials
  • No deposit and withdrawal fees
  • Variety of research and analysis tools
  • Website only supported in two languages
  • Islamic account is not available
  • High spreads
  • No support phone number or email Fact sheet

Main features
Regulations Australia, Canada, Cayman Islands, Hong Kong SAR, Japan, Singapore, UK, USA
Fees on deposits 0 USD
Fees on withdrawal 0 USD
Inactivity fees 15 USD per month after 12 months of inactivity
Minimum deposit 100 USD
Minimum account activation 100 USD
Number of available assets 9,638+
Leverage up to 1:50
Available trading markets CFDs on Stocks, Commodities, Cryptocurrencies, Forex, Indices
Account currencies EUR, USD, GBP
Demo account Yes
Live account types Standard, Commission, DMA. Standard, Commission, STP Pro for US based clients
Islamic account Yes
Negative balance protection Yes
Part of compensation fund Yes
Keeps funds on segregated bank account Yes
Forex 91
Shares 0
Cryptocurrencies 8
Indices 17
Commodities 22
Total 9,638+
Fees & spread
Forex From 0.8 pips
Shares N/A
Cryptocurrencies From 10p
Indices From 1 point
Commodities From 0.04
Platforms MetaTrader 4, MetaTrader 5
Mobile trading support Yes
Mac device support -
Commodities Yes
Payment systems
Payment methods Bank Transfer, Credit/Debit Card, Neteller, Skrill
Minimum deposit Bank Transfer, Credit/Debit Card, Neteller, Skrill
Minimum withdrawal Bank Transfer, Credit/Debit Card, Neteller, Skrill
Withdrawal processing time InstantBank transfer takes up to 2 working days
Time to open an account -
Show all

The Safety & Security of is trusted by traders due to the fact that it is regulated by top-tier authorities. These regulators constantly supervise the business conduct of either directly or through its affiliates. These regulatory bodies are:

  • The Cayman Islands Monetary Authority (CIMA).
  • Financial Conduct Authority in the UK (FCA).
  • Australian Services and Investments Commission (ASIC)
  • Financial Services Agency in Japan (FSA).
  • Commodity Futures Trading Commission in the US (CFTC).
  • Investment Industry Regulatory Organization of Canada (IIROC).
  • The Securities and Futures Commission (SFC).
  • The Monetary Authority of Singapore (MAS).

Additionally, is part of the StoneX group which is a financial corporation based in the US, and it is traded on the NASDAQ composite. Being part of a publicly-traded entity is a huge security factor, the NASDAQ composite would never enlist a company that is a scam for example. 

Also, if the broker gets into financial trouble, there is the possibility of receiving support from the mother company by raising funds from investments. StoneX as a traded company can release more shares or motivate investors to buy stocks and financially support the broker.

Therefore, is trusted by its users in terms of the legality of financial transactions, and any attempt of illicit activity is heavily punishable according to the regulations this broker follows. also cooperates with highly reputable banks around the world, which ensures the security of traders’ money, as their funds are kept in segregated accounts. This is a common practice by trusted brokers to safeguard the traders’ deposits against any default.

Reliable brokers like keep the users’ funds in different high-profile accounts in different countries, this way if the broker faces financial difficulties there is no threat imposed on the traders’ money.


Available Assets on - What Can You Trade?

There is no lack of tradable securities on, there are more than 9,638 assets that you can trade and make money from. These products are distributed across five main markets (Forex - Stocks - Indices - Commodities - Cryptocurrencies).

The trading costs depend on the trading account type that you use, most of the time you will be dealing with the spread as your direct cost. The spread is variable and it changes according to the financial asset you are placing your trading orders on, and according to the account type; for example, the commission-based account has the lowest spread ranges.

The variety of trading options is what attracts many traders to as you can diversify your trading portfolio and choose as many assets as you want. We will discuss this in more detail below.


There are 91 currency pairs available on Whether you want to trade using majors, crosses, or exotics, you can find the currency pair that works best for you and execute different market orders based on your analysis.

Spreads are variable and the tightest spread range can be as low as 0.8 for the pair EUR/USD, which is dynamic and changes according to market conditions. You can see live changes on the spread ranges from the advanced trading platform, and pick up the currency pair with the lowest trading cost.

You can get up to $10 as a cash rebate for every 1 million USD that you trade within the active trading market, which gives you another discount on your trading cost.

Most Forex traders use leverage when trading Forex, but you need to be aware of the risks and rewards associated with using leverage. Additionally, you need to consider the Forex leverage restrictions in your location as the maximum leverage on Forex can be limited in some countries.

Stocks offers a huge range of global corporate shares, from the US, EU, German, and Japanese stock exchanges. There are more than 9,500 companies' stocks that are available for trading.

Whether you prefer Meta, Amazon, or Google shares, you can go long or short on any company’s stock, and with low commissions starting from just 0.08%, there are some good trades to be made.

Additionally, there are some commission discounts that take place every now and then. You can enjoy a $0 commission on trading some stock CFDs, just check the terms & conditions to make sure whether such an offer is available.


Some traders prefer indices as a substitute for stocks, or to diversify their trading portfolio. If you are one of these traders, you can find your fair share of indices on There are more than 15 world-leading markets’ indices provided.

You can enjoy low spreads starting from 0.6 pips on the UK100 and Germany 40 indices.


Trading commodities help you expand your trading options. This market has a huge line of products that you can trade, and offers 22 commodities such as natural gas, crude oil, coffee beans, and precious metals.

You can trade these commodities on spot or enter future contracts if you can correctly predict the upcoming price. All this while receiving tight spreads starting from 0.04 and low margins starting from 1%. commodity trading is done using CFDs, which is faster, gives you good market exposure, and you do not need to physically own the commodity.


The cryptocurrency market is growing rapidly, there is a huge number of coins that are being traded every day, and millions of traders are involved. You can join this wave by trading the 8 cryptocurrencies available on the website. 

If this offering seems limited for you, these are the most stable cryptos that ensure you do not get trapped in a pump-and-dump scheme. Rather, you place market orders in a real coin that is used by millions of people and businesses around the world. offers Bitcoin, Ethereum, Ripple, and Litecoin among others. You can either invest in cryptos by owning coins and storing them in your wallet until their price increase and you make money, or you can trade on price speculation through CFDs. This form of trading gives you more options as you can go long or short, and you can avoid the gas fees and crypto wallets altogether.

You can speculate on any of these coins using low spreads ranging from 0.8 to 1.0 pips. Note that Bitcoin trading is available in four different currencies as well as Bitcoin Cash.

Which Account Types Are Offered by

Reliable brokers diversify their offers and packages for their clients. This helps in attracting as many traders as possible, fitting different traders’ styles and expectations. offers three different types of accounts, and they all differ in terms of fee structure and market access.

The trading accounts include the standard type that is offered by most brokers, a commission-based account, and an account with direct market access. These accounts also differ in the trading tools offered, such as trading software and tradable assets.

Pros & Cons of account types

Three different trading accounts are availableNo Islamic account is available
Different commission systems in each account typeThe demo account is limited to 30 days of use after registration
Direct market access account 

Standard account

This account type fits those who want to trade in the most traditional way, there are no fees for withdrawal and deposits, and no commissions on trade execution. The only form of commission charged here is the spread, which is the difference between the bid and the asking price of a tradable asset.

This is the only account type that offers MetaTrader 4 and MetaTrader 5, in addition to Webtrader and mobile app trading software. Traders of the standard account can open market orders on any financial instrument available at without any limits.

When we say a “traditional type of trading”, we mean market-making, where the broker acts as an intermediary between you and the financial market, and trading according to the spread set by the broker.

The minimum deposit required to operate in this market is $100. However, the broker recommends having a $1,000 balance in the account to be secured from any sudden fluctuations.

Commission account

This type of account applies commissions on trading activity. This way, the broker uses a mix of low spreads and low commission fees. This type of trading account offered by is suitable for those trading with bigger contract sizes.

The commission fee can be as low as $5 for every 100k traded, and the tight spreads can be as low as 0.8 on the EUR/USD pair. 

However, the downside of this account is that you cannot use MT4 or MT5, you are bounded to the Webtrader, the mobile app trading software, and the advanced trading software provided by the broker. Also, the offered tradable assets are similar to those offered in the standard account.

Similar to other types of accounts, there are cash rebates associated with this account type which can help you reduce your trading cost by 15%.

The minimum deposit for this type of account is also $100, while the broker recommends having $1,000 in the account as a financial cushion if the market diverges widely.

DMA account

The direct market access account is usually used by experienced traders. This account enables you to directly interact with the relevant financial market, where you can execute market orders according to the direct market spreads.

Using this type of account a trader does not pay spread or commissions to the broker. However, there are entry and exit fees charged by, while the trader uses the market spread without any markup by the broker.

The broker offers access to the financial market directly, through the broker’s advanced trading software. With a DMA account, a trader can use neither MT4 nor MT5.

Since it gives the trader access to huge pools of liquidity, only the Forex market is offered in this account as well as gold and silver. Traders can only execute orders in the FX market using 58 currency pairs.

The minimum deposit required by the broker in this account is $25,000, which is much higher than the other types of accounts, but it is meant to offset the lost commission and spread of the broker.

Demo account

Trading with you can use a demo account if you would like some practice before you start using your real money. The demo account enables you to implement trading strategies and execute market orders in a simulation of real trading scenarios.

Using the demo account of you will receive virtual money that you can use for practice trading. Note that the demo account is only valid for 30 days after you sign up, and once it is expired you cannot renew it and you need to start trading on a live account.

Getting started on - Main steps 

After checking the types of accounts and the trading assets that are offered on the website, it is time to take you through the steps to get you started with this broker.


Step 1: Select the account type

The first step is to click the "OPEN AN ACCOUNT" button on the broker's web page, then select the type of account that you want to start with. You will be asked to choose between the Standard, Commission, and DMA accounts. 

It is important to know which type of account suits your experience and your expectations, as you will not be able to switch between the types of accounts once you are registered.

Select the type of account you want and click “Open an account”, you will be directed to the application page where you need to insert your information such as country of residence, email address, full name, and date of birth. Also, you need to select a username and create a password.


Step 2: Details about you

In the next step, you need to fill in your physical address information and give more information about yourself and your identity.

Then, you need to enter your tax payment details, including the country where you pay tax and your tax ID number. Note that the tax info and the address details will be verified after you submit supporting documents. The broker will ask you for copies of these documents before completing the verification process.

Step 3: Introduce yourself

In this step, you will be asked to fill in information about your trading experience and expectations. This stage will help your broker understand you better, which will help them to suggest services that are more suitable for you.

You need to insert information about your employment status, your net worth, and your source(s) of income. 

Then, you will choose the account currency you wish to use (USD - EUR - GBP) and insert the amount of your first deposit. Note that the first deposit needs to be not less than 100 $/€/£.

Finally, you need to answer some questions about your trading experience, and whether you have any history with trading financial assets. Also, you will be asked about your trading expectations by selecting the frequency of trades you are expecting to make per month.


Step 4: Submit documents

To finalize the registration process on you need to submit some documents to verify your identity. The verification documents include a copy of your passport, driving license, national ID card, or other government-issued documents that prove your identity.

Additionally, you need to provide documents that prove your address. This is important as the broker needs to verify that you are able to legally trade and are not blacklisted or have a bad financial history. The proof of address document may be in the form of a utility bill, bank statement, tax bill, address registry, or a valid driving license; as long as your address will be clearly shown it should be good enough.

The broker will review these submitted documents within a couple of days, once everything is verified, your account will be ready and you can start funding your account and trading.

Step 5: Fund your account

Once your account is verified and ready, you can start depositing funds. Firstly, you need to verify your card as a method of payment, you can do so by sending a scanned copy of your debit card and bank statement.

Then, you can use any payment method (bank transfers - wire transfers - debit or credit card). The minimum amount allowed for deposits is $100, and the maximum amount allowed is $10,000.

Using a debit card is the most convenient way because it's faster and easier, almost everyone has a debit card that is within their reach.

However, wire transfers are considered the safest method as you do not reveal your bank account information and there are no minimum or maximum amounts needed for wire transfers. The only downside is that it takes more time to arrive (up to 7 business days), and the processing bank might deduct their own fees.

Step 6: Start trading

Once the money shows in your balance, you are totally ready to start trading. offers a wide range of tradable products, you can choose any market you want to get involved in.

After you decide on the financial market that suits you best, and the market that is interesting to you, start by analyzing your trading options and expected returns, and place some market orders. 

Note that not all trading platforms can be used by all trading accounts, MetaTrader4 and MetaTrader 5 can only be used by the Standard account.

Fees & Commissions

There are some fees that the broker charges for their service, which is understandable because you cannot expect a broker to work for free. However, to better control your profits and losses you need to understand the types of fees you are going to get charged.

Commissions and fees change depending on the type of account that you trade, and on the financial market. Some trading accounts use more than one form of commission, while another account can have just one type of fee. We will explain all the charges in the following breakdown.


Trading fees fees depend on the type of account. The Standard account does not have any trading fees that are charged separately. Here the fee is built into the spread, which is dependent on the financial market and the financial asset being traded.

On the other hand, the Commission account does charge a commission in addition to the spread, but it mixes low fees from both sides. Traders with this account can enjoy a low spread of 0.8 pips on the EUR/USD pair, and low commission fees every time they open and close a trading position.

The last type of trading fee is related to the direct market access (DMA) account, which includes only commission fees. Traders who directly interact and place market orders using the market’s live spread are only charged a commission fee every time they enter and leave the market.

ForexFrom 0.8 pips
SharesVariable. Some stocks have fixed commission starting from 0.08%
CryptocurrenciesFrom 10p
IndicesFrom 1 point
CommoditiesFrom 0.04 pips

Inactivity charges

There are inactivity fees that are charged by These charges take place when 12 months pass with no trading activity. This is a way for the broker to compensate for the cost of keeping the trader’s account running.

If you do not open any market position for 12 months an amount of $15 (or 1,500 JPY, if JPY is your base currency) will be deducted from your balance monthly.

Currency conversion commission

Exchanging between currencies can be costly, especially when brokers add hefty commission fees, making this conversion process costly. If your account currency is not one of the broker’s base currencies (USD - EUR - GBP), the broker will automatically convert between your currency and the base currencies.

Currency conversion takes place with every gain, loss, adjustment, or commission, and the broker uses reasonable exchange rates that you can see in the market. However, you may expect a divergence of 0.5 from the market rate.

Borrowing costs

When you trade CFDs with and open a short position, it means that you are borrowing shares from the broker, and you are selling them back after some time when you close the market position.

The borrowing costs vary depending on the account type, and the security you are trading. Therefore, to better understand the associated borrowing fees, you can see them in the trading terminal. The amount of this fee will show up every time you plan to enter a short position.

Rollover fees

If you trade currencies and keep your market position active overnight, rollover fees kick in.

Once your Forex trading position is active past 17:00 ET, the difference in the interest rates between the two currencies is calculated, and you will either be charged or credited the difference, with a 2.5% divergence from the direct rate. payment methods

Available payment methodsCredit/debit cards, Wire transfer, Neteller, Skrill
Minimum deposit$100
Minimum withdrawal$100
Processing time of withdrawalUp to 48 hours

Comparing fees with other brokers includes a reasonable commission structure for its services. However, comparing it with other brokers in the market will give you a better idea of where stands in terms of value.

So let's look at some brokers and see how things stack up. fees vs Interactive Brokers fees

Type of brokerInteractive Brokers
EUR/USD SpreadFrom 0.8 pipsFrom 0.6
Fees on DepositsNo1%
Inactivity feeYes, $15/m after 12 months of inactivityNo*

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m fees vs eToro fees

Type of brokereToro
EUR/USD SpreadFrom 0.8 pipsFrom 1
Fees on DepositsNo$5 on withdrawals
Inactivity feeYes, $15/m after 12 months of inactivityYes, $10/m fees vs IG fees

Type of brokerIG
EUR/USD SpreadFrom 0.8 pipsFrom 0.8
Fees on DepositsNoNo
Inactivity feeYes, $15/m after 12 months of inactivityYes, $10/m

Trading Platforms of Reviewed 

There are a few choices when it comes to trading on There is a dedicated web-based platform, MetaTrader, mobile trading, and some other advanced trading software that is offered for proficient traders.

MetaTrader is probably the most used trading software on the market today. It is offered by all reliable financial brokers and is one of them. You can use MT4 or MT5 with the Standard account, which comes equipped with many technical indicators and charts, and you can install more indicators if you wish.

Other trading platforms include the Web Trader and which allows you to directly trade different financial markets without installing any software on your device. 

Finally, the mobile trader is another option for traders who are always on the go. Once you install the mobile application on an Android or iOS device, you can directly log in to your account and manage your active trades, as well as open and close market orders.

The Standard trading account can use any trading platform including MetaTrader. But the Commission account can only use the advanced trading platform, Web Trader, and the mobile app.

DMA trading accounts can use the advanced trading platform provided by and Web Trader.


Mobile Trading Experience makes it easy for traders to control their trades on the go, with a contemporary mobile app and a mobile trading platform. You can find the application using any Android or iOS device, and you can access all the trading assets that you can find on the desktop trading website.

The mobile app mirrors exactly what’s on the website, so you can find charts for different financial markets including your active trades, as well as market analysis which helps you understand the next price movement that affects your trades.

Additionally, you can use the MetaTrader 5 mobile app to control your active trades if this platform is available on your account type. MT5 mobile allows you to execute different market orders, set different trading signals and alerts, and transfer money from and to your trading account.

Education & Trading Tools

Whether you are new to the game or an experienced trader, you can find some useful educational material for every level.

The market analysis section includes different market signals and analyses that relate to every financial market. There are market insights, trade ideas, an economic calendar, and more.

Additionally, the educational material includes webinars and courses on three different trading levels (Beginner - Intermediate - Advanced). If you find charts confusing, the educational section tells you the basics of chart reading, and how you can develop your own trading plan, which helps you level up your experience from beginner to pro in no time.

Customer Support of 

As a trader, finding answers to your questions is crucial to your success. provides you with multiple communication options. 

If ever you feel like you want to reach out to somebody, you can do so through the live chat option. Here you will be met by an automated bot that holds popular queries and their answers. If this doesn't put you on the right track and you cannot find an answer to your question, you will be connected to a live chat operator.


After going through this detailed review, we can say that we recommend this broker. There is a clear consistency between the claimed offers and what we found throughout the different pages of the website.

This broker has everything a trader might look for. is licensed by top regulators based in different continents, it has been operating for more than two decades, and being part of a publicly-traded corporation, it can reassure every trader to trust their money with this broker.

Have experience with Log in to leave a review

FAQs on

Is a regulated broker?

Yes, It is registered by the Cayman Islands Monetary Authority (CIMA) and several top-tier authorities from around the world. 

What is the minimum deposit for

$100 is the minimum amount to deposit in your balance, it can also be 100 EUR/GBP. However, the broker recommends having at least $2,500 in your balance as a safeguard against sudden market fluctuations.

Is good for beginners?

Yes, there are several tools and courses designed for beginners. Additionally, offers demo trading which is an excellent practical learning tool for traders to get hands-on training before trading with real money.