FujiFX Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this FujiFX Review.
FujiFX Review
Clients of FujiFX are offered a choice of 5 account types. All of them, except ECN accounts, are commission-free, and offer very high leverage levels, reaching 1:2000. All accounts offer trade in micro lots, variable spreads, and up to 5% annual interest on deposits.
Swap-free service is available on all account types (except ECN) to clients of Islamic belief, who are unwilling to earn interest, as it is against the Sharia rules.
Keep in mind that Expert Advisers (EAs) and free VPS only on EA Sever account.
Providing high leverage levels and requiring low initial deposit is typical for offshore brokerages. Spreads on all accounts, except the ECN one, are above the average range of 1.0 – 1.5 pips on EUR/USD. ECN spreads, on the other hand, are really tight, averaged 0.3 pips on EUR/USD, and besides the commission applicable is low, amounting to $5 per standard lot (round turn). In spite of this, FujiFX is not recommended, because of its unreliability – it is registered offshore.
The Company. Security of Funds
Company
Country
Regulation
Fuji Investment Corporation Co. Ltd.
Belize
IFSC
FujiFX is a Japanese broker offering trading in forex and CFDs that launched MT4 trading in 2009. Behind this brand is Fuji Investment Corporation Co. Ltd., an affiliate company of Fuji Yamada Group established in 2006. Unfortunately, the company is not regulated in Japan, but in Belize.
Belize is a popular offshore financial destination, where the licensing requirements are looser compared to other jurisdictions. Yet, its regulation regime is tighter compared to the Seychelles or Saint Vincent and the Grenadines, for example. The initial minimum capital required by the International Financial Services Commission (IFSC) for forex brokers is $500,000. Besides, IFSC regularly issues warnings against unauthorized brokerages. Nonetheless, little focus is placed on supervision and client protection.
Therefore, we advise traders to avoid offshore brokers as a general rule and to select a forex broker licensed in Cyprus, or Australia for instance, where traders have certain level of protection and where financial watchdogs are on the alert.
Trading Platform
FujiFX offers its customers the famous MetaTrader 4 (MT4), desktop and mobile versions available.
MT4 is the preferred choice of most experienced traders, as the platform offers a number of technical indicators, extensive back-testing environment, advanced charting package and a wide range of Expert Advisors (EA), allowing clients to fully automate their trades.
Methods of Payment
FujiFX offers its clients a wide range of payment methods: bank wire, credit/debit cards and e-wallets OKPAY, PayPal, truemoney, as well as Fuji Card. Thailand Bank Transfer is also available.
FujiFX is a Japanese forex and CFD brokerage that targets mainly Asian clients. It offers a number of account types on the MT4 platform and although its ECN trading conditions appear attractive, we do not recommend it because of its looser regulation.
The Broker is not a safe forex broker, Instead you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
FujiFX Review Conclusion
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