FX EliteTrader-Overview of Minimum Deposit, Spreads & Leverage

General Information

FX EliteTrader presents itself as a Netherlands-based forex and CFD broker that provides its clients with supreme trading platforms, as well as up to 1:100 leverage and a choice of seven customized account types.

Market Instruments

FX EliteTrader advertises that it offers many classes of trading instruments, which includes but are not limited to forex and CFDs.

Account Types

There are seven trading accounts offered by FX EliteTrader, namely Standard, Core, Deluxe, Gold, Prime, Superior and VIP. Opening Standard account requires less than $10,000, while the other six accounts require much higher initial capital, $10,000, $25,000, $50,000, $100,000, $250,000 and $500,000 respectively.

Leverage

In terms of trading leverage, the maximum level offered by FX EliteTrader is 1:100. Bear in mind that too high leverage does not always do good for traders, for gains and losses are consistent.

Spreads & Commissions

The spreads seen on FX EliteTraders website show that for most currency pairs, the platform shows a spread of 7-8 pips. For the benchmark currency pair EUR/USD, however, the spread cannot even be measured in pips – the buy price is almost double the sell price. More other specific information about spreads and commissions are not concerned directly.

Trading Platform Available

When it comes to trading platforms available,FX EliteTrader provides its clients with access to Metatrader5 and a web-based trading platform.

MT5 is an industry standard with powerful automated trading features and a clean interface. While the web-based trading platform has the basic features for placing orders, customizing charts and application of technical indicators.

Deposit & Withdrawal

FX EliteTrader supports cryptocurrency through the way2finance provider or credit/debit card as payment methods. There are no obvious options for using popular online payment platforms such as PayPal, Skrill, or Neteller. Please note that there is a significant fee for an inactive account, amounting to $50 per month.

Customer Support

FX EliteTraders customer support can be reached through telephone: +31106680880, email: support@fx-elitetrader.io. Company address: Amsterdam, Nederland. Gustav Mahlerplein 3-117 1082 MS Amsterdam.