Independent Review - FxView
Fxview is a broker brand owned and operated by Charlgate Ltd based in Cyprus. It’s a global company with offices around the world and proven global experience. It offers the award winning Metatrader 4 platform, and huge library of tools, and excellent trading conditions. It is a bit sparse on assets offered, unless you are a forex trader, in which case you’ll love the over 60 pairs on offer at FxView.
The Fxview website has a clean and modern look and we found that all the areas of the website were easily reached through the menu at the top of the site. The information presented throughout the site is clear and transparent and was enough to answer our questions. In general, we’ve found that websites like this that are easy to navigate with clear information are also the ones that have the most trustworthy brokers.
The Fxview website is one such, where prospective clients can easily find information about accounts, spreads, the company itself and pretty much anything they need to know.
We were also happy to see Metatrader 4 offered as a trading platform, and a raw ECN account as the only account offered, keeping things nice and simple.
FxView is fully regulated by the Cyprus Securities and Exchange Commission (CySEC) through its parent company Charlgate and holds license number 367/18 and company registration number 373060. In addition it is also registered in the following jurisdictions: the UK Financial Conduct Authority – FCA(Registration number: 850138), the German Federal Financial Supervisory Authority – BaFin (Registration number: 157125), the French Autorité de ContrôlePrudentiel et de Résolution – ACPR (Registration number 85051), the Italian Commissione Nazionale per le Società e la Borsa – CONSOB (Registration number: 5151), the Spanish Comisión Nacional de Mercado de Valores – CNVM (Registration number: 4892), the Norway Finanstilsynet – (Registration number: FT00118545).
The broker also participates in the Investor Compensation Scheme, as well as providing Negative balance Protection. These are both nice benefits that add to the security and safety of trading through Fxview.
Fxview has just one account type, the Raw ECN account. That’s alright though because the account comes with 0.0 pip minimum spreads and a low $1 commission per full lot. They also allow traders the ability to trade micro-lots, which works well with their EUR 5 minimum deposit. The broker is under ESMA regulations so can only offer a maximum 1:30 leverage for retail traders, but if you can qualify as a professional trader, you’ll get access to leverage that goes up to 1:500.
Fxview is somewhat unique among modern brokers. Rather than offering everything under the sun, they have decided to primarily focus on forex trading. With that in mind you will not be surprised to learn that the only assets on offer here are forex pairs, some commodities, and a small selection of equity indices. By far the best asset class is the forex pairs, where traders will find a total of 69 major, minor, and exotic pairs to trade. Commodities are sparser, including U.S. WTI and Brent crude oil, natural gas, gold and silver. These commodities are also offered denominated in multiple currencies. The broker also offers major global indices, but only 9.
Clients at Fxview can take advantage of using my favorite trading platform – Metatrader 4. The broker also offers MetaTrader 5 for those who prefer the updated MT version. This is, in my opinion, the best trading platform available for forex traders. It has everything you need in terms of charting, indicators, Expert Advisors for automated trading, and analysis tools. Plus Fxview is supercharging their MT4 and MT5 offering by adding Auto Chartist for free as well as a suite of 11 tools they call the Trader Toolbox. These tools include:
- Alarm manager
- Correlation Matrix
- Correlation Trader
- Excel RTD
- Market Manager
- Mini Terminal
- Sentiment Trader
- Session Maps
- Stealth Orders
- Tick Trader
- Trade Terminal
For those who are not as fond of MT4 and MT5 as we are the broker also offers ActTrader, which comes with its own benefits. The charts are extremely detailed and customizable and also include risk management features you won’t find in the Metatrader suite. It includes one-click trading functionality to simplify trading and cut down on order placement time. Sometimes seconds can make a big difference in your order fulfillment. Another nice feature in ActTrader is the visual strategy editor which allows traders to generate their own automated strategies based on chart patterns. The visual strategy editor requires no coding knowledge.
Fxview has support for all the most popular deposit and withdrawal options, which includes bank transfers, Visa and Mastercard credit/debit cards, and several e-wallets. The minimum deposit and withdrawal for bank transfers and credit/debit cards is EUR 100, but many of the e-wallets allow deposits as small as EUR 5 and have no minimum withdrawal requirement. Fxview does not charge any deposit or withdrawal fees unless the deposit or withdrawal does not meet minimum requirements.
Fxview supports the standard payment methods of Forex, as well as a popular e-wallet. Clients of the brokerage may deposit or withdraw via Visa, MasterCard, bank wire, as well as Skrill and Neteller. Furthermore, the brokerage does not charge any withdrawal or deposit fees which lower the cost of trading but is does require a EUR 100 minimum withdrawal amount when it is a bank or credit/debit card withdrawal.
Customer service is an extremely important component to any broker, which you will know if you’ve ever needed support. Fxview is offering support via four different channels. There is an online chat app that is available 24/5 and is the preferred method of contact. It is also possible to use a web form or email the broker at email@example.com, but they clearly state that responses will be made within 24 hours. If you are not willing to wait until the next day for a response these aren’t good options. Honestly though when we tested the email support, I received a response within 2 hours.
It is also possible to call the support staff at +357 25 251 100, +357 2526-2288, +357 2526-2040 but they are only available Monday through Friday from 03:00: 19:00 (GMT+3 DST / GMT +2 Noon DST)
Simply based on the regulation, licensing, negative balance protection, and investor compensation scheme we found Fxview to be a safe and secure broker. There really are no significant disadvantages other than the lack of a full set of assets to trade. Forex traders should be more than happy here, but anyone looking to trade other assets will need to look elsewhere. Oh, and they do not accept U.S. residents either.
Otherwise we were impressed with the low spreads, low initial deposit requirement, and access to Metatrader 4 & 5, including a whole suite of tools to improve on what is already an award-winning platform.
We are happy to say Fxview is a trader well worth using if forex is your thing.
No Dealing Desk