FXFair Review

Review

FXFair was founded in 2013 and is an ECN Forex online broker domiciled in Saint Vincent and the Grenadines, West Indies.

Accounts

FXFair offers three different types of trading accounts. Almost anyone can open the Standard Zero account as the minimum requirement is only $1.00. Leverage is available up to 1:1000 and all deposits receive a 100% Welcome Bonus and a 50% Loyalty Bonus.

The Real ECN account requires $1000 to start and $2500 is needed to open the Real ECN Pro. Both of them receive leverage up to 1:200 and there are no additional bonuses.

All three accounts have similar features. They trade on the MT4 platform, use USD and EUR and trades are executed at market. They all use floating spreads starting at 0.0 pips, offer 62 currency pairs, CFD’s and metals and there is no minimum or maximum transaction size.

FXFair Account Types

A demo account is available from all three accounts and an Islamic Swap Free account is also provided.

The SignalTrader is an automated trading revolution and stands for Real Money, Real Trades in Real Time. The accounts are managed by professional traders, who trade with real money. The Team of experts allows traders to copy the experts’ trades as they place orders in their live trading accounts. Trading is done through the FXFair MetaTrader 4 (MT4) terminal and new positions can be opened manually.

FXFair SignalTrader

In addition to these accounts, there are several PAMM/MAM –managed accounts that bring together investors and managers. PAMM/MAM allows investors to benefit from the experience of a successful trader while at the same time traders benefit from the customers acquired by FXFair on their behalf.

Features

All kinds of trading strategies and techniques are available at FXFair. As an ECN/STP broker they never hold the opposite position of the trader and traders can place their SL as tight as they want with no limitations whatsoever.

Scalping and Hedging are also allowed.

An interesting feature at FXFair is their ‘Trading Talent.’ When the team at FXFair notices good traders they help promote their skills by allowing them to trade with a special portfolio.

Regulation

There is no well-known regulation at FXFair but the separation of customer and corporate capital is a strict requirement by the FSA in St.Vincent so clients’ money is kept safe by depositing them in a specially created bank account that cannot be used for any service within the FXFair organization.

Parnerships

Partnerships and white labels are offered to individuals as well as businesses. Partnering means referring clients to FXFair, and receiving a commission each time a referred client makes a trade. It's an ideal solution Networkers, IB partners, Website Owners, Bloggers or Forex Traders and the program is available to all registered clients.

Although a real-time chart of currency prices is available on the first page, there is no other educational or analytic content provided on the web.

Bonuses/Promotions

I understand that there are always different bonuses and promotions being offered at FXFair that include trading contests, demo contests, rebates, refer-a-friend and others. At the time of this review, however, there were only two bonuses available.

The 100% deposit bonus credit is a limited time offer and is offered on the trader’s first payment which must be made within 48 hours after registration. The bonus will be added to the trader’s account as credit a within twenty-four (24) working hours after the deposit has been received and turns into cash after all conditions are met.

A minimum deposit of $100 is required in order to receive the bonus credit and the maximum deposit is $10,000 for the bonus credit. The client can transfer more than $10,000, but will not get more than a total $10,000 bonus credit.

The 50% Deposit Bonus credit is a Loyalty Bonus offered to all clients trading in a Standard Zero account for their second, third and all further deposits. The same conditions exist for this bonus as that of the Welcome Bonus including a minimum deposit of $100 and the maximum deposit of $10,000 for the bonus credit. The client can transfer more than $1,000, but will not get more than a total $5,000 bonus credit.

Deposits/Withdrawals

Accounts can be funded by credit cards, bank wires, Fasapay and other online payment programs.

Withdrawals are made using the same methods.

Customer Support

Traders can speak to an FXFair representative via email, fax or chat. Telephones to their Cyprus office are answered by an English speaking representative only.

Conclusion

FXFair is still quite a young broker among the list of brokers offering currency trading and although the website has already been updated several times, it still needs some additional content before it can really compete with the big guys. Blatantly missing is any educational material such as lessons, tutorials, seminars or webinars. In addition, the site has no market updates or analysis.

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Features

There are some lovely features at FXFair and as a fairly good broker, FXFair stands out from its competitors in several ways. There is a choice of three trading accounts which are similar except for the amount of required deposit. The MT4 platform is used in both its Web and the mobile forms and this makes the broker stand out from many of its competitors. There is no educational material and I found it hard to understand why even the daily news was not posted anywhere on the site.

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Platforms

MetaTrader 4

FxFair uses the popular MetaTrader 4 (MT4), the leading Forex trading platform. It offers an easy accessible user interface that is characterized by a wide variety of indicators and illustrated tools which could lead to a greater success in the Forex market. It also allows traders to add their own systems and Expert Advisors (EA) allow automated analysis of the Forex market and the automatic execution of trading operations.

In addition to the usual MT4 features, the FxMeta Trader4 provides an optimal view of more than 20 key indicators of MACD, RSI or stochastic as well as other individual indicators which can be organized in an easy accessible system itself, either as a download or on Metaquotes own programming using the MQL programming language.

Mobile App allows you access to all tradables underlying. You can trade Forex and CFDs and keep an eye on open positions. Trade directly in real-time charts with information on current spreads and price movements tick by tick.

Mobile

Possible mobile order options:

The Mobile App at FXFair allows traders access to all features. Traders can trade Forex and CFDs and keep an eye on open positions and trade directly in real-time charts with information on current spreads and price movements tick by tick.

FXFair MT4 Mobile Platform

They can place trades at market, set buy and sell limits, buy and sell stop orders and stop loss orders. The Mobile application can be downloaded from App Store and Google Play.

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User Reviews

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