SixTrading Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-11-19 18:17

Abstract：SixTrading is an unregulated brokerage platform based in China. There is limited information about its trading assets on the internet. It offer uncompetitive trading conditions with a web-based platform.

　　Note: SixTrading's official website: https://www.sixtrading.net is currently inaccessible normally.

SixTrading Review Summary
Founded	2022
Registered Country/Region	China
Regulation	No Regulation
Market Instruments	/
Demo Account	❌
Leverage	Up to 1:200
EUR/USD Spread	From 3 pips
Trading Platforms	A “state-of-the-art” web-based platform
MinDeposit	€250
Customer Support	/

　　SixTrading is an unregulated brokerage platform based in China. There is limited information about its trading assets on the internet. It offer uncompetitive trading conditions with a web-based platform.

Pros and Cons

Pros	Cons
None	Non-functional website
	Lack of transparency
	MT4/MT5 platform unavailable
	No regulation
	No demo accounts
	Wide spreads
	High minimum deposit
	No contact channel

Is SixTrading Legit?

　　At present, SixTrading lacks valid regulation. Its domain was registered on June 16, 2022, and the current status is “client Transfer Prohibited”. We advise you to look for other regulated brokers.

Account Type

　　SixTrading requires a minimum deposit of €250 to open an account. This is considered rather high considering that many licensed brokers would open an account for just $10 or sometimes even as little as $1.

Leverage

　　The leverage offered is up to 1:200,a ratio that is not overly high. However, it should be noted that higher leverage also leads to a significantly increased risk exposure. Trading with leverage higher than 1:100 is only recommended for those who possess some experience in the forex market.

Spread and Commission

　　The broker has mentioned that its spread on EUR/USD pair is around 3 pips on average. However, many brokers would offer far better spreads, usually around 1.5 pips on EUR/USD or lower.

Trading Platform

　　SixTrading appears to offer a “state-of-the-art” web-based trading platform. However, it cannot be accessed at present. Consequently, we are unable to describe what this platform is like.