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TradeFxP review

TradeFxP


On-line since: 2015
Country of origin: Great Britain
Regulation: -
Payment options: bank wire, credit cards, Neteller, Skrill, Trasuz, Fasapay
Minimum account size: $25
Minimum lot size: 0.01 lot
Leverage: up to 1:1,000
Spreads: from 0.5 pip

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.

Trading terms

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.

Minimum deposit

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.

Leverage

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.

Trading platforms

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.

Special offers

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.

Support service

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.

Payment options

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.

Advantages:

  • little minimum deposit;
  • MT4.

Disadvantages:

  • unregulated broker;
  • the number of support service is not provided.

TradeFxP 1/10 (votes 2186)
Author of TradeFxP: Yukin | Date 2022-06-17
I am very impressed with the technological advancements at TradeFxP. Very helpful in scalping my trading. In fact, sometimes I like swing trading, and it's very easy and profitable. Very updated information. Personally, everything helped me to set up how to manage my account correctly and when it was necessary to withdraw money, it was done without problems. Grateful for the cooperation and assistance. I've made $1500 this month. Got the money within a day without any problem. TradeFxP is a reliable broker.
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Author of TradeFxP: Wozpe | Date 2022-03-14
I have experienced several type of error with TradeFxP. Too much slow execution. I have seen orders can take 1 minute or more to close. They takes too much time for withdrawal. I made a request for withdrawal last three weeks! Until now I did not receive yet my money.
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Author of TradeFxP: Idris | Date 2021-05-19
Last week, I traded on pair USD/JPY with $1000 when the Asian market session is so volatile. Even at a time of high volatility market, Trade Fxp try to help clients and often reimburse losing trades if the client's account has any defects. However, I also earned some profit with $500. They are not expensive to trade because the spreads are low and the slippage is minimal. All in all, I highly recommend Trade Fxp to all traders. I never encountered any issues with this broker and have been introduced about them with one of my friend.
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Author of TradeFxP: Greg Hall | Date 2021-02-10
I'm trading on the TradeFxP platform, But recently I've found some uncertain activities, which can be harmful to me. As they cancelled my profitable order by the EA. So I can't make a profitable deal. I think that they are market maker broker so they actively trade against there customers. I have lost my MT4 platform's connection too. I tried a dozen of withdrawal via Neteller account but I've failed. Accually TradeFxP didn't care about their customer. So I wanted to move another broker.
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