Fitrex Spreads, leverage, minimum deposit Revealed

WikiFX | 2021-03-29 17:28

Abstract：Fitrex claims to be an award-winning, international trader offering investors thousands of assets to trade, including Forex currency pairs, CFDs on stocks, energy commodities. However, it should be noted that Fitrex itself is not regulated and was blacklisted by the Financial Conduct Authority in January 2021.

　　General Information & Regulation

　　Fitrex claims to be an award-winning, international trader offering investors thousands of assets to trade, including Forex currency pairs, CFDs on stocks, energy commodities. However, it should be noted that Fitrex itself is not regulated and was blacklisted by the Financial Conduct Authority in January 2021.

　　Market Instruments

　　Fitrex claims to offer investors thousands of trading assets, including mainly Forex currency pairs, indices, stocks, energy, commodities, futures, and cryptocurrency CFD products.

　　Minimum Deposit

　　Fitrex has three different types of trading accounts: Standard (minimum deposit of $250), Premium (minimum deposit of $2,500), and VIP (minimum deposit of $35,000).

　　Leverage

　　When it comes to trading leverage, Fitrex doesn't make this part clear. Leverage magnifies the returns from favorable movements in a currency's exchange rate.It's important that forex traders learn how to manage leverage and employ risk management strategies to mitigate forex losses.

　　Spreads & Commissons

　　Fitrex doesn't provide any spreads and commissions related information, making its trading fees quite vogue for all traders.

　　Trading Platforms

　　Fitrex claims to offer investors a feature-rich web-based trading platform and an Exchange Traded Fund (ETF) platform, rather than the most popular MT4 or state-of-the-art MT5 trading platforms on the market today. A stable, fair, and transparent trading platform is the most important part of the trading activity, which proves from the side that Fitrex is an unorthodox broker.

　　Deposit & Withdrawal

　　Fitrex claims that it only supports traders to deposit and withdraw funds from their investment accounts via VISA, MasterCard, wire transfer, and Klarna.

　　Fitrex Pros & Cons

　　Fitrex Disadvantages Include:

　　1. Unregulated & blacklisted by the FCA

　　2. High initial deposit requirements

　　3. Non-MT4/MT5 trading platform

　　4. Not providing spreads, commissions, and other fees

　　5. No leverage information

　　6. Fewer options to deposit and withdraw funds