RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
FXView is an international proven Forex brokerage with years of experience in the market. The company behind it – CharlGate ltd – is based in Cyprus but has offices around the globe. FXView provides clients with very attractive trading conditions, as well as a wide range of trading products which include Forex pairs, CFDs on commodities, indices, precious metals and energies. Clients have at their disposal two of the most popular trading platforms – the MetaTrader 5 and Metatrader 4, as well as the customizable trading platform ActTrader.
Regulation & Safety
The broker brand of FXView operates via the website – fxview.com – and abides by the highest regulatory standards. It is owned by the Cyprus-based company CharlGate Ltd which is regulated by the Cyprus Securities and Exchange Commission with a registration number 372060 and is a member of the Investor Compensation Fund. CySEC is among the foremost financial regulators in the world and all brokerages licensed by it have to follow strict rules and are subjected to intensive regulatory oversight. This removes any unwanted risk in trading and guarantees that the client’s funds are safe and their interests protected by the respective laws. Such rules include the segregation of accounts which assures that commingling with the client’s money is not possible. Furthermore, a license by CySEC entails participation in a financial mechanism by which clients may be compensated if they suffer losses due to fraud or bankruptcy. The compensation goes up to 20 000 euro per person.
FXView is also licensed by the Financial Conduct Authority in the UK with a registration number 850138, the German Federal Financial Supervisory Authority – BaFin with a segistration number 157125, the French Autorité de Contrôle Prudentiel et de Résolution – ACR with a registration number 85051, the Italian Commissione Nazionale per le Società e la Borsa – CONSOB with a registration number 5151, the Spanish Comisión Nacional de Mercado de Valores – CNVM with a registration number 4892 and the Norway Finanstilsynet with a registration number FT00118545. Such diverse regulatory assurance guarantees FXView legitimate access to an array of European markets.
Negative Balance Protection (NBP)
An immense advantage in trading with FXView is the fact that it provides their clients with Negative Balance Protection. This means that if your balance becomes negative due to Stop Out, the brokerage will compensate the amount and bring your account balance back to zero. We always recommend that readers invest only with brokers who provide NBP, so that there is assurance they many not lose more money that their initial deposit.
The trading conditions offered by FXView are very attractive and much more favorable that the standard for the industry. Here are some of the highlights:
- the minimum initial deposit is only $200, which is lower than the standard $250;
- extremely low floating spreads;
- flexible leverage with maximum levels which vary according to the qualification of the client;
- Negative Balance Protection removes the risk of losses exceeding the initial deposit;
- low-risk trading in micro lots available on all account types.
- Virtual Private server – a VPS ensures a safe environment without the need of any hardware, internet or power backup
Readers have to keep in mind that trading conditions vary a bit (the leverage for instance) according to the client that is receiving the financial service. This is, again, a sign of FXView’s commitment to comply with regulatory standards.
FXView trading accounts
|Account type||Minimum deposit||Minimum trade size||Maximum leverage*||Average Spreads|
|ECN Raw Account||$200||0.01||1:400/1:30||0.1 + $1 /lot|
* The maximum leverage extended to clients depends on the qualification of the client. In order to access a leverage of up to 1:400 you have to successfully pass the qualification test which consists in meeting at least two requirements. A financial instrument portfolio which exceeds $500,000 and a trading history which includes large transactions on the relevant market with an average frequency of 10 (ten) per quarter over the previous four (4) quarters. Otherwise for retail clients FXView offers a leverage of up to 1:30 which is in line with the European regulatory cap.
FXView trading software
FXView provides clients with two popular trading terminals that are sure to meet their expectations: MetaTrader 4 (MT4) and the MetaTrader 5. The fact that boths trading platforms of the MetaQuotes software are supported is something we always consider an advantage since both are among the foremost trading terminals in Forex trading at the moment and close to 80 percent of users prefer them. The platform provide an advanced charting package, lots of technical indicators, extensive back-testing environment and a variety of Expert Advisors (EAs).
FXView also provides clients with access to the ActTrader trading platform which offers an amalgam of advantages. Clients may utilise the fully customizable interface which allows them to customise the trading screen that fits their style, combining charts, live risk reports, and streaming prices in any combination. There is also One-Click trading which allows you to open a new position in just one click, simplifying trading process and significantly reducing trade fulfillment time. Another advantage worth mentioning is the visual strategy editor which allows you to create automated strategies directly from charts without an coding knowledge.
Methods of Payment
FXView supports the standard payment methods of Forex, as well as a popular e-wallet. Clients of the brokerage may deposit or withdraw via Visa, MasterCard, bankwire, as well as Skrill and Neteller Furthermore, the brokerage does not charge any withdrawal or deposit fees which lower the cost of trading but is does require a $100 minimum withdrawal amount.
FXView is a reliable and legitimate FX and CFDs broker that offers pretty good trading conditions and has air-tight regulation. To sum up the above, here are the advantages and drawbacks with regards to this broker:
Solid regulation No significant disadvantages
Negative Balance Protection
Competitive spreads, low initial deposit
MT5 & MT4 both available
Customizable trading platform
Fast execution speed