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FxFlat broker review: An institutional-level broker with average spreads

fxflat.com
nika
Written by:
Nika
Av
konstantinrabin
Edited by:
Konstantin Rabin
Calendar
Written on:
26 March 2023
Date
Last edit:
5 March 2024
Our rating:
8

8

Summary
Safety & Security of FxFlat
2
2.0
Account types available for traders on FxFlat
8.8
8.8
Fees & commissions review of FxFlat
6.8
6.8
Trading platforms and mobile trading reviewed at FxFlat
9.4
9.4
Education and research tools offered by FxFlat
9
9.0
Customer support of FxFlat
7.2
7.2
Conclusion

FxFlat broker review: An institutional-level broker with average spreads

fxflat.com
nika
Written by:
Nika
konstantinrabin
Edited by:
Konstantin Rabin
Calendar
Written on:
26 March 2023
Date
Last edit:
5 March 2024
Our rating
8

8

Visit broker
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.1% 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 FxFlat compares to it's closest alternatives.
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Main summary

Founded in 1997 and obtaining its first regulatory license under BaFin in 1998, FxFlat is a German brokerage and bank, offering securities and CFDs trading to international traders who want to receive quality products and services. The brokerage offers over 300 trading instruments in various asset classes including Forex, commodities, stocks, indices, and cryptos. The broker also offers bonds, futures, and ETFs to its clients. FxFlat services both retail and institutional clients and has slightly better terms for professional traders when compared to retail traders. The differences are especially in the spreads category, where the spreads are lowered to 0.6 pips for professional traders. With several awards including Best Online Broker For Active Traders 2022, FxFlat is a legit and dedicated broker that is continually striving to improve its services and maintain its quality and value to traders. 

Pros & cons of FxFlat broker

  • Ability to deposit and withdraw with $0 fees
  • Offers access to MetaTrader 4, MetaTrader 5, and other advanced platforms
  • Fast and digital account opening/verification
  • Offers negative balance protection
  • No inactivity fees charged
  • Offers industry average spreads
  • Accepts only EUR as an account currency

FxFlat Fact sheet

Main features
Regulations Germany
Fees on deposits 0 USD
Fees on withdrawal 0 USD
Inactivity fees 0 USD
Minimum deposit 200 EURO
Minimum account activation 200 EURO
Number of available assets 312
Leverage up to 1:200
Available trading markets CFDs on Stocks, Commodities, Cryptocurrencies, Forex, Indices
Account currencies EUR
Demo account Yes
Live account types Standard
Islamic account Yes
Security
Negative balance protection Yes
Part of compensation fund Yes
Keeps funds on segregated bank account Yes
Assets
Forex 54
Shares 0
Cryptocurrencies 9
Indices 15
Commodities 9
Total 312
Fees & spread
Forex From 1 pip
Shares N/A
Cryptocurrencies N/A
Indices From 0.4 pips
Commodities From 0.02
Software
Platforms MetaTrader 4, MetaTrader 5, Agena Trader, Trader Workstation
Mobile trading support Yes
Mac device support Yes
Commodities Yes
Payment systems
Payment methods Credit/Debit Card, PayPal, Skrill, iDeal
Minimum deposit Credit/Debit Card, PayPal, Skrill, iDeal
Minimum withdrawal Credit/Debit Card, PayPal, Skrill, iDeal
Withdrawal processing time Instant
Time to open an account -
Show all

Safety & Security of FxFlat

The FxFlat is a regulated Forex and CFDs broker that falls under the regulations of the Federal Agency for Financial Services Supervision (BaFin).

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Account types available for traders on FxFlat

There is only one account type available for retail traders offered by FxFlat, namely the Standard account. There are different amounts of leverage for each trading asset class listed below:

  • Forex currency pairs - for spot Forex it is set to 1:200, and for Forex CFDs it's 1:20
  • Commodities - 1:10
  • Indices - 1:5
  • Crypto CFDs - 1:2
  • Share CFDs - 1:5

There are 28 FX pairs offered at spot Forex trading prices with a maximum leverage of 1:200, while the Forex CFDs have 54 pairs and maximum leverage of 1:30. Forex and other CFD trading are commission-free, and the spread starts from 1 pip for major pairs and 0.6 pips for professional accounts. 

Fees & commissions review of FxFlat

Comparing FxFlat fees with other brokers

Let’s see how well FxFlat is positioned against other popular brokers to draw some conclusions on the competitiveness of their fees. 

FxFlat fees compared to Interactive Brokers fees

Type of FeeFxFlatInteractive Brokers
EUR/USD SpreadFrom 1 pipFrom 0.6 pips
Fees on Deposits0 USD1%
Inactivity fee0 USDNo*

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

FxFlat fees compared to CM Trading fees

Type of FeeFxFlatCM Trading
EUR/USD SpreadFrom 1 pipFrom 0.9 pips
Fees on Deposits0 USDNo
Inactivity fee0 USDYes, 15 EUR/USD per month after 60 days of inactivity

FxFlat fees compared to plus500 fees

Type of FeeFxFlatplus500
EUR/USD SpreadFrom 1 pipVariable
Fees on Deposits0 USDNo
Inactivity fee0 USDYes, 10 USD per month after 3 months of inactivity

FxFlat fees compared to XM fees

Type of FeeFxFlatXM
EUR/USD SpreadFrom 1 pipFrom 0.6 pips
Fees on Deposits0 USDNo
Inactivity fee0 USDYes, 15 USD after 12 months, +5 USD/m

FxFlat fees compared to AvaTrade fees

Type of FeeFxFlatAvaTrade
EUR/USD SpreadFrom 1 pipFrom 0.9 pips
Fees on Deposits0 USDNo
Inactivity fee0 USDYes, 50 USD after 3 months, 100 USD administration fee after a year

FxFlat fees compared to Capital.com fees

Type of FeeFxFlatCapital.com
EUR/USD SpreadFrom 1 pipFrom 0.9 pips
Fees on Deposits0 USDNo
Inactivity fee0 USDYes, 50 USD after 3 months, 100 USD administration fee after a year

Trading platforms and mobile trading reviewed at FxFlat

The trading platforms offered by FxFlat are numerous, including well-known and advanced professional trading platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5), AgenaTrader, and Trader Workstation. MT4 and MT5 are popular platforms that provide advanced charting and technical analysis capabilities. AgenaTrader is a user-friendly multi-asset trading platform that offers similar features as those coming from the MetaTrader trading platforms. MT4 and MT5 come with custom indicators and automated trading system abilities. All the platforms mentioned here come with inbuilt indicators, and AgenaTrader also has a trading simulator. 

Education and research tools offered by FxFlat

There are some educational and research materials available on the FxFlat website. Educational webinars together with YouTube videos will offer all basic knowledge to novice traders who want to learn basic trading skills and test their knowledge. It is worth mentioning that these educational materials are available only in German at this moment, but the company is working to offer webinars in other languages in the near future. Research tools include an economic calendar and news. All in all, not the widest range of educational tools, but still has a fair amount for those just getting started.

Customer support of FxFlat

The broker has all kinds of online support features including email, phone call, and leaving a message features. The live chat is available 24/6 and all support options are available in several languages including German and English. The website is also multilingual to appeal to international traders from all over the world. The broker advertises itself as a top-quality support provider with its usage of new technologies and knowledgeable experts. FxFlat offers a comprehensive FAQ section to help traders find quick answers to all basic questions. There is also a user guideline available for clients who are new to CFD trading and its peculiarities. 

Conclusion

FxFlat is a German brokerage and bank that offers over 300 trading instruments in various asset classes including Forex, commodities, stocks, indices, and cryptos. While the brokerage is regulated and offers negative balance protection and segregated bank accounts, their fees and spreads are average compared to other brokers. FxFlat offers only a Standard account to retail traders and has different leverage offerings for each asset class. The highest, 1:200 leverage, is only available on spot Forex currencies, where 24 different pairs are included. For other instruments, the maximum leverage is just 1:30 making it difficult for beginners with low budgets to start trading. The trading platforms offered by the broker are quite good and include MT4, MT5, AgenaTrader, and Trader Workstation. Each of these platforms offers advanced technical analysis possibilities, with AgenaTrader even offering inbuilt simulated trading for testing new strategies. The broker has a 30-day free demo account and migrating to an Islamic account is also possible.

Ready to open an account with FxFlat? Click the button below to get started.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.1% 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.
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See how FxFlat compares to it's closest alternatives.

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FAQs about FxFlat

Is FxFlat a good Forex broker?

FxFlat is a CFDs and Forex broker regulated by Germany’s BaFin. The broker offers competitive spreads and conservative leverage and has been around since 1997, making it very unlikely that this bank who also offers trading services could be a scam. Since there are many advantages and few disadvantages to the broker, we can say that FxFlat is a legit and reliable broker. BaFin is also one of the most reputable regulators out there. 

What else can I trade on FxFlat platforms?

Besides the already mentioned asset types, there are several other instruments that include bonds, ETFs, and futures. So, traders will find themselves in a comfortable position as they will be able to find a good number of asset types to choose from. 

Which are the best trading accounts and platforms offered by FxFlat?

The best platform and trading account usually depends on each trader's style of trading and their experience and personal preferences. If you have been using MT4 for example, then that platform will be most comfortable for you. Since there is only one account, called the Standard account, it is crucial that it offers low spreads and low or no commissions. FxFlat has spread starting from 1 pip for Forex majors and offers trading without paying commissions which is a really positive sign. FxFlat is not for scalpers though, as with a 1 pip spread the profits are going to be eaten quickly, and it will be hard to stay profitable long term. But for day traders, all features offered are attractive and reasonable.