86fxtrade Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-10-15 10:41

Abstract：86FXTrade is a trading platform that was launched in 2022. Utilizing the popular MT5, 86FXTrade offers over 70 tradable products. The platform provides several account types. However, it is not regulated and their minimum deposit requirements are too high.

Aspect	Information
Registered Country/Area	United States
Founded year	2022
Regulation	Unregulated
Tradable assets	Forex, share indexes, energy carriers, and commodity futures
Demo accounts	✔
Maximum Leverage	Up to 1:100
Spreads	From 1.2 pips
Trading Platforms	MetaTrader 5 (MT5)
Customer Support	Phone: +12015283874
Customer Support	Email: support@86fxtrade.com

　　86FXTrade is a trading platform that was launched in 2022. Utilizing the popular MT5, 86FXTrade offers over 70 tradable products. The platform provides several account types. However, it is not regulated and their minimum deposit requirements are too high.

Pros and Cons

Pros	Cons
Range of tradable assets	Absence of regulatory oversight
MT5 available	High deposit minimum and spreads
No commissions charged	No 24/7 customer support
Security measures provided

Is 86fxtrade Legit?

　　86fxtrade claims it offers many security measures including Investor Compensation Scheme, and Negative Balance Protection. It claims it is regulated by MFSA. However, the MFSA has warned that it is a unlicensed exchange.

What Can I Trade on 86fxtrade?

　　86fxtrade offers 70 instruments available for trading, including forex, share indexes, energy carriers, and commodity futures.

Tradable Instruments	Supported
Forex	✔
Commodities	✔
Indices	✔
Cryptocurrencies	❌
Shares	❌
ETFs	❌
Bonds	❌
Mutual Funds	❌

Account Type

　　86fxtrade offers two main kinds of accounts: the Weekly and Monthly accounts. Each account has different sub-account type.

　　In the Weekly account, you can choose the Basic, Starter, Deluxe, Executive, and Gold accounts with the minimum deposits of $300, $1,000, $2,000, $3,000, and $4,000 respectively.

　　Besides, in the Monthly account, there are the Premium, VIP, VIP Luxury, Silver Platinum, Gold Platinum, VIP Gold Platinum, Gold Luxury Platinum with the minimum deposits of $5,000, $75,000, $150,000, $350,0000, $500,000, $750,000 and $1,000,000 respectively. To this end, their minimum deposits are rather high.

Account Type	Minimum Deposit (USD)	Deposit Bonus	Scalping	Daily Signals	Financial Plan
Weekly
BASIC	$300	10%	✓	✓	✓
STARTER	$1,000	15%	✓	✓	✓
DELUXE	$2,000	25%	✓	✓	✓
EXECUTIVE	$3,000	35%	✓	✓	✓
GOLD	$4,000	50%	✓	✓	✓
Monthly
PREMIUM	$5,000	75%	✓	✓	✓
VIP	$75,000	95%	✓	✓	✓
VIP LUXURY	$150,000	120%	✓	✓	✓
SILVER PLATINUM	$350,000	145%	✓	✓	✓
GOLD PLATINUM	$500,000	150%	✓	✓	✓
VIP GOLD PLATINUM	$750,000	185%	✓	✓	✓
GOLD LUXURY PLATINUM	$1,000,000	250%	✓	✓	✓

Leverage

　　86fxtrade offers leverage up to 1:00. High leverage can lead to significant gains, but it also increases the risk of substantial losses.

86fxtrade Fees

Account Type	Spreads	Commission
Weekly
BASIC	1.9	None
STARTER	1.5
DELUXE	1.2
EXECUTIVE	1.2
GOLD	1.2
Monthly
PREMIUM	1.9	None
VIP	1.5
VIP LUXURY	1.2
SILVER PLATINUM	1.2
GOLD PLATINUM	1.2
VIP GOLD PLATINUM	1.2
GOLD LUXURY PLATINUM	1.2

Trading Platform

　　86fxtrade offers MT5 trading platform. Developed in 2000 by MetaQuotes Software Corporation, the MetaTrader 5 (MT5) platform swiftly became one of the world's most popular trading platforms across desktop, Android, and iOS platforms.

Deposit and Withdrawal

　　86FXTrade offers credit/debit card payments (Visa, Mastercard), e-wallets (such as Webmoney, Neteller), and Bitcoin for deposits and withdrawals. It does not charge any fees for deposits but charges 2.9% for NETELLER and Skrill withdrawal.