Pros & cons of StreamForex broker

StreamForex Fact sheet

The broker is unregulated, which is its main downside. Unregulated brokers are usually riskier than regulated ones, and we always advise our readers to recheck and exercise caution when dealing with brokers without a license. 

However, StreamForex, despite being unregulated, still offers several security policies that indicate its legitimacy. 

The broker keeps user funds in segregated bank accounts to ensure its employees can not touch client money. 

Negative balance protection is preventing traders from going into minuses and losing more than their initial investment. 

StreamForex maintains all security measures to ensure clients can feel safe and focus solely on trading activities and making profits rather than being nervous about their broker’s legitimacy. As a result, withdrawals are superfast and take several minutes to be processed. 

The broker excels in account type diversity and offers a flexible choice to select from four different trading accounts catering to traders with diverse experience levels, strategies, and budgets. Cent, Classic, Professional, and Crypto accounts offer diverse spreads and trading conditions to appeal to both day traders and scalpers. 

The Cent account starts from a 5 USD minimum deposit, up to 1:1000 leverage depending on the deposit size, and fixed spreads starting from 2 pips. Account currency is the cent USD, meaning the standard lot for this account is just 1,000 USD. The minimum lot size starts at 0.1 microlots. 

Cent accounts are suitable for beginner traders who want to test their trading skills in live market conditions without breaking the bank. 

The classic account is for more experienced traders and offers a low minimum deposit requirement of 5 USD and fixed spreads at 2 pips. Both the cent and classic accounts are suitable for day traders and swing traders who prefer to trade without commissions and prefer spreads to commissions. The maximum leverage is capped at 1:1000. 

The professional account comes with the lowest spreads from 0.5 pips, which are variable. The minimum deposit required starts here at 5 USD and maximum leverage is capped again at 1:1000. 

Finally, the crypto account comes with a minimum deposit requirement of 25 USD, 1:100 leverage, 0.1 pips spreads, and 0.01 minimum lot size. Professional and crypto accounts are perfect for scalpers and short-term traders as they have the lowest spreads.

As for the dynamic leverage system at StreamForex, the broker limits higher leverage depending on the trading account balance. For balances up to 1,000 USD, the maximum leverage is 1:1000, over 1,000 USD 1:500, over 5,000 USD 1:200, over 10,000 USD 1:100, over 25,000 1:50, and 1:30 for accounts over 50,000 USD balance. 

Pros & cons of StreamForex account types

The broker has a very flexible inactivity account policy. If the account has less than 8 USD available and is inactive for 30 days, the broker will close the account. If inactivity lasts for more than six months, the broker will put all the funds into the vault and will not deduct anything from it. Let’s discuss StreamForex's full trading costs and compare them to other popular brokers. 

Comparing StreamForex fees with other brokers

StreamForex fees compared to Interactive Brokers fees

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

StreamForex fees compared to CM Trading fees

StreamForex fees compared to plus500 fees

StreamForex fees compared to XM fees

StreamForex fees compared to AvaTrade fees

StreamForex fees compared to Capital.com fees

The broker provides its traders with an advanced MetaTrader 4 platform for all devices and offers tutorials on operating this platform. Copy trading, auto trading, and hedging are all allowed on StreamForex MT4, which is very convenient for traders of all types. 

The education at StreamForex is surprisingly well-thought-out and offers free trading courses for beginners to become successful traders. Trading courses, tutorial videos, and webinars are all offered by StreamForex, making it a very appealing broker for beginners, as it also offers very small minimum deposit requirements. 

After a trader passes a quiz at the end of the trading course, the broker grants them real trading funds to help beginners become professional traders. This is a unique and attractive offering for any beginner trader and makes it possible to start trading without your capital. 

The broker offers all types of support including live chat, email, support, online form, and hotline support. Additionally, the broker is available on popular social media platforms, adding to its legitimacy. The call-back function is also available on the website. 

Both the website and support are multilingual and available in several popular languages. 

Despite being an unregulated Forex broker, StreamForex still implements key security policies and ensures client fund safety. To increase its legitimacy, the broker offers fast withdrawals with zero commissions and offers multilingual live chat for any issues. 

Diverse account types offer the unique ability to select between fixed and variable spreads, and there is also a dedicated crypto account for crypto enthusiasts. 

Overall, all the specs and policies indicate that StreamForex is a very attractive and reliable broker that has been around since 2012. The company seems to have amassed considerable experience and focuses on its traders’ needs.