Brokers aren’t all equal, so it is important to do your homework and ensure the broker you go with has great qualities that will help you be more successful as a trader. This FXTrading.com review covers a range of important things to look out for when selecting a broker, along with the pros and cons of FXTrading.com.
FXTrading.com Review
FXTrading.com has a range of awesome features and tools, ranging from economic calendar analysis tools and charts, high quality web trader access, Copytrading features and more. But it’s not always features that get traders in, the key is the actual trading conditions.
In order to provide a comprehensive review of FXTrading.com, we must cover a range of topics including trade conditions, tools and resources and ease of depositing and withdrawing funds from the broker.
FXTrading.com Trade Conditions
Being one of the few Prime Broker’s remaining in the industry and backed by one of the strongest financial institutions in Australia, FXTrading.com has excellent trade conditions including tight spreads, fast execution speed and low costs. How do they achieve these great trading conditions?
Let’s dig a little deeper.
Tight spreads are often derived from access to the best liquidity providers and technology to find the lowest bid and ask figures on the market, then distribute that pricing to the clients of FXTrading.com through the trading platform.
Add to this, being a Prime Broker means that FXTrading.com acts like a central broker to other broker firms. This brings a number of benefits to the clients of FXTrading.com almost similar to that of buying direct from a wholesaler. With the best prices coming through from a range of providers, then those prices being facilitated to clients and other brokers, FXTrading.com has massive liquidity.
This massive liquidity then snowballs, since it attracts high net worth individuals, financial institutions and fund managers to the broker too.
More liquidity and more buying power is a good thing for a broker to have, and those benefits of great pricing and liquidity flow down to clients of the brokerage.
Low Costs are primarily based on the spread, but there’s also a couple of other points that are important here too.
The first is commissions. With a Pro Account, the commissions are fixed and below average, making FXTrading.com cheaper to trade with than other brokers.
Additionally, the swap fees are similar to that of the spreads in that they come from a prime broker price feed. This means that the swap fees are able to be kept close to wholesale rates. Comparatively, other brokers may have to increase their swaps on top of a prime broker’s swaps to earn from them.
FXTrading.com Features and Benefits
FXTrading.com is always working towards bringing clients the best trading experience possible, including access to tools and features like Copytrading. They don’t settle for just having market access and tight spreads, they want to bring their clients an experience worth staying around for. Stick around to find out the features FXT has on offer.
FXTrading.com Copytrading
Copytrading is a popular service among investors, since they don’t have to know how to trade in order to benefit from the way trading works. Simply pick a trader that fits the style of investing you like and you’re good to go.
It’s got a full suite of statistics and information about the trader, making it easy to look through their performance.
Once you copy a trader you can basically set and forget, go about your day and the trader takes care of the rest.
FXTrading.com Economic Calendar
There’s a ton of economic calendars on the market, not all of them show you deep insights into recent events which can be filtered by results (vs forecast) above, below or exact. This enables traders to map out their plan before the event, getting an idea of what happened in similar events recently, on their preferred currency pair.
An event was mapped out in their blog, outlining the value these deep insights have in selecting a direction and stacking probabilities in your favor.
FXTrading.com Deposits & Withdrawals
There are plenty of options to make deposits to your trading account, along with plenty of options for withdrawals.
Withdrawals are processed quickly so that you get your money when you need it.
Generally, when it comes to deposits and withdrawals, the main thing is, do you get your money back if you make a profit, and the answer is yes.
FXTrading.com WebTrader
WebTrader for FXTrading.com has had a big update and is custom built for its traders. For those wanting to use a browser to trade, the webtrader by FXT has some cool features and is easy to use.
One of the best features is the Trader Trend. This shows you the sentiment of orders bullish or bearish, giving you insight into the feel of the market.
FXTrading.com Regulation & License
FXTrading.com are licensed under and AFSL which is the most ideal license for a trader to see when choosing a broker. Other licenses don’t hold all that much weight as they don’t have strict regulations like Australia do.
When looking for a broker, it is good to also check who backs them and what company owns them. FXTrading.com is backed by a group called Gleneagle Securities, a large financial institution with access to a institutional price feeds and a client base consisting of government organizations, corporations and other financial institutions.
That kind of backing far outweighs the backing of an individual or small group that forked out for a brokerage but don’t really live and breathe the industry, or have the financial backing to pay out profitable traders when they are making good money.
The key to the regulation is also understanding where your funds sit. Client funds are held in a segregated client trust account (this is pretty standard among quality brokers) but to add another layer, the trust audits also show a massive amount of money is confirmed in reports as being held in these trusts with Gleneagle Securities.
FXTrading.com Overall Review
Overall, FXTrading.com ticks all the boxes for a trader to be in their sanctuary and build their trading business long term. From regulatory requirements and licensing, to trading conditions and costs, FXTrading.com has it all.
Add to this, the awesome features such as the Trader Trend tool, amplified webtrader compared to many providers, copytrading features and the super detailed economic calendar, FXTrading.com is the choice that many traders go for when looking for a CFD broker.
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