SSFX Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-10-12 10:46

Abstract：SSFX Limited is an offshore broker offering forex, metals, and CFDs. It also provides the most popular trading platform - MT4. Besides, the minimum deposit of $10 is very attractive. However, it is not supervised by financial authorities.

　　Note: SSFX's official website: https://www.ssfxlimited.com is currently inaccessible normally.

SSFXReview Summary
Founded	2017/6/12
Registered Country/Region	Saint Vincent and the Grenadines
Regulation	Not regulated
Market Instruments	Forex, Metals, CFDs
Demo Account	✅
Leverage	Up to 1:200
Spread	From 1.0 pips
Trading Platform	MT4
Min Deposit	$10
Customer Support	Email: support@ssfxlimited.com
Customer Support	Social media: Twitter and Facebook

　　SSFX Limited is an offshore broker offering forex, metals, and CFDs. It also provides the most popular trading platform - MT4. Besides, the minimum deposit of $10 is very attractive. However, it is not supervised by financial authorities.

Pros and Cons

Pros	Cons
Popular trading platform MT4	Limited trading assets
Low minimum deposit $10	Not regulated
High leverage up to 1:200	Lack of transparency
Demo accounts offered

Is SSFX Legit?

　　SSFX was registered by SSFX Limited in Saint Vincent and the Grenadines in 2017. SSFX claims it was regulated. However, the Financial Services Authority of St. Vincent and the Grenadines does not supervise forex brokers and CFDs. Traders should be cautious when trading.

What Can I Trade on SSFX?

Tradable Instruments	Supported
Forex	✔
Metals	✔
CFDs	✔
Stocks	❌
Options	❌
ETFs	❌

Account Type

　　SSFX offers three account types: Islamic Standard, ECN Standard and Pro.

Account Types	Minimum Deposit	Minimum Lot Size
Islamic Standard	$10	0.01 per point
ECN Standard	$200
Pro	$10000

Leverage

　　The maximum leverage of SSFX's Islamic Standard account is 1:1000, and other accounts are 1:200. Leveraging can increase returns, but it also raises the risk of losing more than you invested.

Spreads & Commission

　　When we tried out SSFX's platform in demo mode, we found the broker's spreads floating around 0.7 pips on EUR/USD with no commission fees.

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
MT4	✔	Windows and iOS	Beginners

Deposit and Withdrawal

　　SSFX can deposit and withdraw through Bank Transfer, Credit Card, Skrill and Neteller. The minimum deposit of SSFX is $10. SSFX Limited has a withdrawal fee for all clients. For Indonesia, Thailand, Vietnam, and Malaysia, the fee is 1.5% plus the conversion. But when it comes to the deposit, it is free. Moreover, the processing time is not mentioned.

Customer Service

Contact Options	Details
Phone	❌
Email	support@ssfxlimited.com
Support Ticket System	❌
Online Chat	✅
Social Media	❌
Supported Language	❌
Website Language	❌
Physical Address	Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, Saint Vincent and the Grenadines

The Bottom Line

　　In conclusion, traders should be cautious when coming across SSFX. SSFX offers a few trading assets and lacks regulation. Besides, customer support methods are limited so that problems can't be solved in time. Moreover, it doesn't mention its fees.