The Company. Security of Funds
FXB Trading is a brand that is owned by FAZCO CAPITAL LIMITED and is registered with St. Vincent and the Grenadines. We usually advise taking cautiousness in dealing with offshore companies. The company is an affiliate of The Financial Commission (FinaCom) an international, non-profit organization that assists in the resolution of disputes.
This being said, FinaCom doesn’t function as a regulatory body, in any way. Regulators are government-owned organizations, and are legally able to enforce lawful requirements on brokers that belong to them. A mediator in dispute resolution similar to FinaCom could assist traders in some instances but does not have the same authority over its members, like the top-rated watchdogs do.
In this regard as an example, it is the case that the United Kingdom has the Financial Conduct Authority (FCA) which is among the world’s most respected regulators. It oversees the operations of the companies it supervises and is able to put new regulations in to place. There are two fundamental rules that guarantee protection for the funds of traders. There is the principle of segregated accounts that requires brokers to ensure that their clients’ funds are apart from their own. This stops the “accidental” spending of your investments on wages or marketing campaigns, as well as “corporate bonuses”. Another important rule is the requirement to participate of the Financial Services Compensation Scheme (FSCS). It will protect client funds in the event that their broker goes insolvent. If you are trading with an FCA-regulated business your account will be protected against insolvency up to a maximum of PS50,000.
In relation to their cryptocurrency offering it is stated on their website that they have what we might describe as the term “exchange”. This caught our attention since not a lot of forex brokers be directly involved in the crypto world, but they do provide CFDs. There’s an enormous difference between both. Here’s a quick overview of the part that we’re talking about (click to zoom into):
We could not find this feature in the dashboard on the website So we made the decision to contact customer service. This is the response they gave us:
We could be able to determine that the person we spoke to was not aware of the new changes (which is unlikely) or the old section on the website is extremely in error.
Trading Conditions
Minimum Initial Deposit
FXB Trading requires a very minimal deposit for both basic types of account. This is a relatively new (maybe not that novel at the moment) trend within the forex market Try to take any of the least amount of clients. The top-rated, FCA-regulated broker IG for instance has no minimum amount to be met.
However, the minimum deposit should not be seen as a major factor for experienced traders, because it doesn’t say any information about the credibility of a business.
Average spreads and Commissions
The cost of trading at FXB Trading are spreads and commissions. The raw feed was quite unreliable during our tests offering an 0.3-0.4 pip spread for EUR/USD in the initial US session. Be aware that you will need to add commissions. The most efficient way to determine the spread for this kind of ECN offering is to keep in mind that every dollar of commissions equals 0.1 pip (in pairs where USD as the other currency).
For example, with the Basic account offered by FXB Trading, the real expenses of trading would be close to 1.5-1.6 pip (the spread mentioned above plus 1.2 percent of the commission of $12). This amount is comparable to the current offers offered from other brokers, some of which are available below.
Leverage
The maximum leverage offered by FXB Trading is 1:500, for accounts with smaller amounts. Although this might seem odd to some however, it’s not that unusual..
A trading strategy that has such the leverage ratio is risky for novices. Be aware of the fundamentals of risk management prior to you begin any derivatives that are based on margin.
Trading Platforms
FXB Trading permits traders to make use of MetaTrader4(MT4) and the latest version MT5. The two platforms are very identical, but with minor changes to the latest version. Charting features are of the highest quality and they are able to manage many instruments simultaneously and execution times are lightning speedy. The last two depend on your system, hardware as well as your internet connection and broker, obviously. The interface might be a little confusing for beginners however once you get the grasp of it, you’ll be able to fully enjoy this fantastic platform.
One of the best features that is unique to MetaTrader is the manner in it allows for the creation of new add-ons. It’s a relatively simple programming language that allows users to develop new technical indicators, or to make their own trading techniques automated to create Expert Advisors. The two tools can be purchased from the MQL Marketplace, an online store that is completely separate from brokers.
A sneak preview of the MT4 product offered by FXB Trading.
Methods of Payment
FXB Trading accepts a lot of payment options. These include: Bank Transfer, Credit Card, Skrill, Neteller, GiroPay, Qiwi, Alipay, WeChat, Webmoney, Perfect Money, Yandex Money and many more less well-known electronic wallets. In addition, the company accepts Bitcoin transactions through BitPay along with Neteller. The lack of clarity about the entire crypto offerings seems somewhat strange.
Conclusion
FXB Trading is an off-shore forex broker. While they are a part of FinaCom but they aren’t controlled by any government institution, which can be quite alarming. Conditions for trading are competitive, with the demanding types of account offering quite good deal. The state of crytocurrencies is somewhat shady due to the disparity in what the support representative and website states.
| FXB Trading Summary | |
|---|---|
| FXB Trading Details | Information |
| Regulators | |
| Country |  United Kingdom |
| Base Currencies | EUR, USD |
| Type Of Brokers | ECN, STP |
| Trading Platform | Desktop, Mobile, MT4 |
| Established Year | 2017 |
| Website Language | English |
| US Clients | |
| FXB Trading Spreads | |
|---|---|
| Option | Information |
| Minimum Spreads | 0.0 |
| Commission | |
| Fixed Spreads | |
| FXB Trading Payment & Withdrawal Option | |
|---|---|
| Option | Information |
| Acc Funding Methods |  Skrill,  Wire transfer,  Visa Card,  Master Card |
| Acc Withdrawal Methods | Skrill, Wire transfer, Visa Card, Master Card |
| FXB Trading Suitable For | |
|---|---|
| Option | Information |
| Publicly Traded | |
| Beginners | |
| Day Trading | |
| Weekly Trading | |
| Professionals | |
| Swing Trading | |
| FXB Trading Trading Account Options | |
|---|---|
| Option | Information |
| Maximum Leverage | 1:1000 |
| Mini Account | |
| VIP Accounts | |
| Segregated Accounts | |
| Free Demo Accounts | |
| Managed Accounts | |
| Pro Account | |
| Minimum Deposit | 100 USD |
| Islamic Account | |
| FXB Trading Trading Services | |
|---|---|
| Option | Information |
| Hedging | |
| News Trading | |
| Scalping | |
| Automated Trading | |
| Indices | |
| Commodities | |
| Forex instruments | |
| CFDs | |
| ETFs | |
| Stocks | |
| Bonds | |
| Cryptocurrencey | |
| Trading Signals | |
| Educational Service | |
| Copy Tradings | |
| FXB Trading Contact & Support | |
|---|---|
| Option | Information |
| Telephone No | +44 (0) 2035041520 |
| support@fxbtrading.com | |
| 24 Hours Support | |
| Support During Weekends | |
| Address | 3 Gateway Mews Ringway, Bounds Green, London, England, N11 2UT |
