YFX Capital Review
YFX Capital offers several account types, which basically offer commission-free trading on the MetaTrader 4 platform with fixed spreads and high leverage levels. In order to use variable spreads, one has to invest at least $2 500. Micro tradeable lots are available solely on Mini accounts.
Indeed, a minimum initial investment of $250 is standard for the forex industry, however, the problem is that with that deposit you don’t get good trading conditions. A spread fixed at 3 pips for the EUR/USD pair is far too high. Most fixed-spread brokers provide a spread of 2 pips for this pair.
In comparison, with an initial investment of $100, one may trade with spread averaged 0.5 pips on EUR/USD and commission of $7 per lot (round turn) with FxChoice. For further information and comparison, you may check out real-time spreads of 15 leading brokers here.
The Company. Security of Funds
T.W capital LTD
YFX Capital offers trading in over 45 currency pairs, as well as numerous CFDs on the industry’s standard MetaTrader 4 platform. It looks like this broker acts as a market maker, as it offers mainly fixed spreads and no STP/ECN trading environment.
The brand is operated by T.W capital LTD, a company registered on the Marshall Islands. Brokers based in Marshall Islands are not under any regulation and you should be aware of all the risks associated with investing with offshore companies. What is more, the Spanish regulator, Comisión Nacional del Mercado de Valores (CNMV) has warned that YFX Capital is not authorized to provide the investment services in the country.
We generally advise traders to avoid offshore brokers and to invest with companies regulated by reliable authorities such as Cyprus’ CySEC or Australia’s ASIC.
Like most brokers, YFX Capital supports MetaTrader 4 (MT4), available as a desktop, web-based versions, and mobile applications.
Although there may be newer and even better trading platforms, MT4 has stood the test of time. Apart from its reliability, this platform is easy to use and provides a number of useful trading tools. There are, for example, wide range of technical analysis indicators, and new custom-made ones are being regularly added to the broker independent MQL marketplace. Besides, the MT4 supports multiple types of orders, hedging, automated strategies (EAs) and third-party APIs.
YFX Capital’s desktop MT4. Click to enlarge.
Methods of Payment
YFX Capital offers its clients only credit/debit card, and bank wire transfer as payment methods. Popular e-wallets such as Skrill, and Neteller, are not supported.
YFX Capital Review Conclusion
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