FXTRADING.com is an online forex and CFD broker based in Australia, but with a global reach. The broker is owned by Gleneagle Securities PTY Ltd and was rebranded in early 2020 from RubixFX, under which it has been operating since 2014. Our following review is going to take a look at the broker features, account types, assets available to trade, and other areas in an effort to help you decide if the broker is worth your time.
Quick Look
FXTRADING.com has been in operation since 2014, but under the name RubixFX until rebranding in early 2021. As part of the rebrand the broker also significantly increased its available features, and as a result we believe it is a much stronger broker now than it was just a year ago.
Clients can take advantage of three different account tiers, with a low minimum deposit for the starter account. Even the top tier has a fairly reasonable minimum deposit for those who are serious about trading.
There are many different assets available to trade, including cryptocurrencies and more than 10,000 CFDs on stocks. Plus, the broker makes the IRESS platform available for those who wish to trade actual stocks rather than CFDs. Traders can choose from the MetaTrader 4 platform or the MetaTrader 5 platform for trading, with both available on desktop and mobile, as well as online as a web trader.
In short, the broker offers up everything a trader needs to be successful in their trading efforts.
Regulations
FXTRADING.com is registered with the Australian Securities and Investments Commission (ASIC) and is regulated under its parent company Gleneagle Securities PTY Ltd. Because ASIC is a tier-1 regulator with strict requirements for its brokers, those who comply with the directives of ASIC are considered to be trustworthy, safe, and reliable.
ASIC looks at a number of factors when regulating brokers, with some of the key areas being:
Segregated client funds
Minimum level of staff and owner training
Strict accounting and auditing compliance
Regular risk management audits
FXTRADING.com has also taken time to secure a license from the Vanuatu Financial Services Commission in order to offer their services to traders globally.
Account Types
FXTRADING.com has two different account tiers for CFD trading, and then an additional three account tiers for those who want to trade actual shares through the IRESS platform.
In each case the conditions offered are quite competitive, and the minimums for the CFD accounts are reasonable. However, the IRESS account minimums are quite high, and are really only suitable for experienced traders and investors.
Below you can see the three tiers for both CFD and IRESS accounts, the minimum deposit requirements, and the increasing features:
Standard Account
Minimum deposit: $0
Minimum trade size: 0.01 lots
Maximum leverage: 1:500
Variable spreads from 1 pips
Commission: none
Alpha Account
Minimum deposit: $0
Minimum trade size: 0.01 lots
Maximum leverage: 1:500
Average spreads: Raw Spreads from 0.0 pips
Commission: $2.00 per lot per side
IRESS Platform
One of the new features available from FXTRADING.com is the IRESS platform, which allows for trading of over 10,000 global stocks with Direct Market Access. You can trade with lightening fast access to markets, with all trades done within tight spreads and with zero exchange fees. IRESS is suitable for long-term investors and for very short-term scalpers, and for every trading style between.
The IRESS platform comes with all the following features:
Over 50 analytical charting tools and 59 technical indicators
Compatible with Windows 7 and above and Mac OSX
Highly configurable charts with rich graphics
Optional market depth feature
Advanced order management for complex strategies
Create multiple watchlists and view in-depth information
Real-time news with search criteria and custom filter functions
And there are three levels of accounts for IRESS: Silver, Gold, and Platinum. The conditions for each of these on Australian exchanges are as follows:
Silver
Minimum Deposit $10,000 AUD
Platform Fee of $60 AUD
Market Data Fee required for each Exchange
Commission rate of $10 AUD (bps)
Minimum Commission Charge of $10 AUD
Margin Financing at 3.00% +/- Floating Interest Rate
Gold
Minimum Deposit $50,000 AUD
Platform Fee of $60 AUD
Market Data Fee required for each Exchange
Commission rate of $7 AUD (bps)
Minimum Commission Charge of $7 AUD
Margin Financing at 2.50% +/- Floating Interest Rate
Platinum
Minimum Deposit $100,000 AUD
Platform Fee of $0 AUD
Market Data Fee required for each Exchange
Commission rate of $5 AUD (bps)
Minimum Commission Charge of $0 AUD
Margin Financing at 2.25% +/- Floating Interest Rate
Note that the platform fee and commission rates will vary based on the exchange being traded on.
Available Assets
FXTRADING.com makes all the major asset classes available for their clients, including the new cryptocurrency digital asset. In addition, traders will have access to forex, commodities, shares CFDs, and indices CFDs.
Forex – Over 40 different forex pairs available, from major pairs to a good selection of minors and exotics.
Cryptocurrency – Bitcoin, Ethereum and Ripple CFDs are available to those interested in the crypto markets.
Indices – There are CFDs on 10 indices, including those from North America, Europe, and Asia. For example, clients can trade on the S&P/ASX 200, the Nikkei 225, and the DAX 30.
Metals & energies – Several commodities, such as gold, silver and copper are available to trade.
This collection of assets is more than enough to offer something for every trader, during any market conditions.
Trading Platforms
FXTRADING.com has expanded its previous offering and now has both the MetaTrader 4 and the MetaTrader 5 platforms available. That gives traders the choice between two of the top trading platforms available, with all the advanced features needed to be successful in trading.
Those who prefer to trade forex will likely gravitate towards the MetaTrader 4 platform, which is designed for forex trading. It also allows for the use of Expert Advisors along with a VPS to automate trading.
CFD traders, especially those who want access to all the share CFDs, will appreciate MetaTrader 5 more as it was created to provide better trading conditions for CFDs. MetaTrader 5 has an expanded set of order types, and an increased library of indicators.
In addition to these basic platforms traders can also take advantage of social copy trading, MAM and PAMM solutions, actual stock trading through the IRESS platform, and API trading with FXTRADING.com Prime.
Banking
FXTRADING.com makes banking easy, with a large number of currencies accepted, and a wide variety of deposit and withdrawal methods. Those methods include credit card, bank wire transfer, local bank transfers, and online wallets such as Neteller and Skrill. Only the wire transfer option has any associated fees, which is $15 AUD per transaction.
Processing times for the deposits also vary. Credit card and ewallet deposits are credited instantly, but wire transfers can take up to 5 business days to process, and local bank transfers can take up to 2 business days.
Withdrawals follow much of the same procedures, although some of the ewallets can charge fees which are dependent on the wallet and the jurisdiction of the client. Withdrawals to bank accounts can be a bit quicker than deposits, with wire transfers taking 2-3 business days.
Customer Service
The customer service team at FXTRADING.com is available Monday through Friday from 9:00 to 18:00 AEST. Clients can reach the support team via telephone, email, or online chat. Support is provided in English, Chinese, and Vietnamese.
FXTRADING.com has transformed themselves into a world-class broker, with a solid selection of assets available, and some of the best trading platforms. Trading conditions are also competitive in the industry, and the ASIC regulation assures the broker is trustworthy, safe, and reliable.
There is not much you are going to find at other brokers that you cannot get from FXTRADING.com. In our minds that makes the broker well worth investigating, whether you are an experienced trader or brand new to trading.
