About the company:
TradeFxP offers its customers to trade currencies, indices, CFDs, and commodities.
About the company. Security of funds
TradeFxP is a forex broker which is located in Great Britain, but it is not regulated by the main supervisory authority of the country – the FCA. According to the Companies House (an executive body as a part of the Department of Trade and Industry), the broker was included in the Register in October 2015 with a capital of 1 pound sterling. The last application filed to the Companies House shows that the company's capital remains at 1 pound sterling, which is weird. But that explains why TradeFxP is not licensed by the FCA. All controlled companies should have a capital in the amount of at least GBP 730,000.
There are many unregulated brokers, but you should be aware that even those who argue that they are located in Great Britain are not necessarily under control of the FCA. It means that they may well ignore the regulator's rules: keeping of the clients' funds on segregated accounts. And often, when a company goes bankrupt, customers of such companies lose their money. We recommend you to run a business with reliable companies which you can find in our ranking.
TradeFxP has three types of active trading accounts: Mini, Standard, and ECN. There is also a free demo account for a test trading. But, despite our efforts, we were unable to open an account.
A minimum deposit, which you can start trading with, is $25. It is available on Mini accounts. Since the account is usually used by beginners, this is an advantageous proposal in the industry. If you consider that you belong to the professionals of trading, you can open Standard ($250) or ECN ($500) account.
Spreads and commissions
Spreads also differ depending on the account type: the highest level is on Standard accounts – a spread of 2.3 pips; on Mini accounts – 2.1; and the most advantageous offer is for ECN accounts, 0.5 pip, where transactions of a customer are redirected to liquidity providers.
The suggested maximum leverage is 1:1,000. You can use it on the Standard account. It is recommended for those traders who have already learned to manage risks.
TradeFxP offers MetaTrader 4 (MT4), the most popular platform in the industry, in desktop and mobile versions. Apparently, the broker does not provide an opportunity to trade in a web browser without loading an application.
MT4 is widely used by brokers, as it is stable and user-friendly. It has great functionality: numerous options, instruments, and charts.
TradeFxP offers a bonus on a deposit of up to 30%. You can also become a participant of the affiliate program. For attracting new clients, a partner will be rewarded with the commission from their trading.
You can ask your questions via live chat, email, or in the office. The broker's customers can also contact specialists via social networks: Facebook, Twitter, and Linkedin. Strange as it may seem that the company does not provide a phone number.
TradeFxP accepts customers’ deposits through bank wire, credit cards, and electronic payment systems such as Neteller, Skrill, FasaPay, and Trasuz. It is already an advantage that the broker provides a trader with an opportunity to choose between different means. And we consider these payment methods to be the most needed and user-friendly for most traders.
TradeFxP 1/10 (votes 2186)