FXPrivate offers its clients a choice of several commission-free accounts with fixed spreads and an ECN one which involves a commission and provides floating spreads. Maximum leverage levels available are pretty high, reaching 1:500, and there are micro lots available for trade on all account types, except the Premium.
In fact, FXPrivate’s spreads are good – both variable and fixed ones. A fixed spread of 1 pips on EUR/USD is two times lower than the average, as most fixed spread brokers usually offer 2 pips spread for this pair. Trading costs on ECN accounts are also comparatively low, amounting to around 1.1 pips on EUR/USD per standard lot, if we add the commission applicable to the spread.
The Company. Security of Funds
FXPrivate Company Ltd. (ДЦ «ФорексПриват»)
Established in 2011, FXPrivate is a forex broker headquartered in Kyev that offers online trading in more than 40 currency pairs and precious metals on the good old MetaTrader 4. The company operates in Asia, the Middle East, the Far East, the CIS countries, and Africa.
Unfortunately, its website does not provide any information regarding its regulation. Last year, the Financial Services Commission of Belize (IFSC) issued a warning against FXPrivate because the broker has been removed from the country’s International Business Companies (IBC) Register.
In other words, FXPrivate is not a broker legally authorized to provide online trading services and we do not recommend offshore and non-regulated brokers, as doing business with such is very risky. That is why, we strongly advise you to be cautious regarding your investments and to only choose brokers and investment companies that are regulated by reputable financial watchdogs, such as the, CySEC, FINMA, FCA, etc.
FXPrivate supports the most popular forex trading platform – MetaTrader 4 (MT4). It is available as a desktop download and mobile apps.
The MT4 terminal is a perfectly equipped trading terminal which provides all the necessary tools and resources to analyze price dynamics of financial instruments, execute transactions and create & use automated trading strategies (Expert Advisors).
This broker offers a 100% on-deposit bonus up to $5000, available to all live account holders. In order to withdraw the profits from the bonus, clients have to trade a certain number of lots.
Methods of Payment
FXPrivate’s clients can use a wide range of other payment methods, including bank cards and bank transfers, online payment systems OKPay, FasaPay, Skrill, PerfectMoney, DixiPay, WebMoney, EasyPay, PayCo and LiqPay. PayCo also accepts Bitcoin deposits, using bankcards and China UnionPay.
FXPrivate is a forex broker that offers attractive trading conditions on the popular MT4 platform, including ECN environment. Nonetheless, we don’t recommend this broker, because it is not authorized by any regulatory body.
FXPrivate Review Conclusion
For more information about currency trading brokers visit TopForexBrokers.com forex brokers comparison website, Tip ForexSQ.com foreign exchange trading experts please by share this article about FXPrivate Review.