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On-line since: 2011
Country of origin: Malta
Regulation: FSA (Malta)
Payment options: bank wire transfer, bank cards, electronic payment systems
Minimum account size: $250
Minimum lot size: 0.01 lot
Leverage: up to 1:200
Spreads: fixed and floating

About the company:

Established in 2011, BTFX is a Maltese broker that offers trading more than 40 currency pairs as well as gold and silver through MetaTrader 4.

About the company. Security of funds

BTFX belongs to Brokersclub Ltd. It has a Category 2 investment services license issued by the Malta Financial Services Authority. This license authorizes the company to provide the investment services and to hold or control clients’ money.

The MFSA is the single financial regulator in Malta. It applies certain rules and requirements to the license holders.

The companies licensed by the MFSA must stick to the minimum capital requirements in a volume of 730,000 euro. The regulator also stipulates that the licensed companies must use the risk management system and provide reports on a regular basis.

Malta became a member of the European Union on May 1, 2004. Thus, every investment company that is regulated by the MFSA is eligible to render cross-border financial services on the territory of the union.

Furthermore, Brokersclub Ltd. is a member of the Investor Compensation Scheme (ICS) which insures safety of clients’ funds.

Trading conditions

BTFX offers five account types with floating spreads and the leverage of up to 1:200. Furthermore, trading micro lots is available. To execute orders, this broker applies the ECN technology. VIP clients who deposit at least $25,000 can enjoy special conditions.

Minimum initial deposit

To register an account with BTFX, traders should credit their accounts with at least $250. This is an average minimum deposit comparing to conditions of other brokers, but this amount can be lower ($100 or even $1).

Spreads and commissions

BTFX offers average floating spreads on commission-free accounts. On the other hand, the broker charges lower spreads on ECN accounts amounting to 0.5 point on EUR/USD but there is also a commission of $7 per lot. Thus, holders of ECN accounts pay 1.2 points for a standard lot on EUR/USD including commissions which is a standard fee in the brokerage industry.

Leverage

The maximum leverage at BTFX is 1:200 which is an average size. If you need to trade with higher leverage, you can find a broker with suitable conditions in our rating.

Trading platforms

This broker provides the popular MetaTrader4 platform and Autotrade MyFXBook.

MT4 features a wide range of trading tools such as technical indicators, charts, and expert advisors that can be both ready-made and self-developed.

Besides, those traders who copy deals can use Autotrade on MyFXBook through their profile BTFX Live.

Payment methods

Clients of BTFX can use the following payment methods: credit and debit cards, bank wire transfers, and electronic payment systems such as MoneyGram, Neteller, PayPal, and ClickandBuy.

Advantages:

• Regulated broker;
• MT4 is available;
• Competitive spreads;
• ECN technology.

Disadvantages:

• Indices and CFDs are not provided;
• High initial deposit for ECN accounts.