Fantex -Overview of Minimum Deposit, Leverage, Spreads

Unavailable Official Website

Since Fantexs official website cannot be accessed for the moment, we could only pick up some relevant information from other website to get a rough picture of this forex broker.

General Information

Fantex is an online forex broker registered in Dominic, allegedly offering over 1,500 trading assets to its clients, including forex pairs and CFDs on indices, stocks, commodities, and more. Besides, Fantex also offers traders a series of flexible trading accounts, leverage up to 500:1.

Is Fantex safe to trade with？

Fantex is a trading name owned and operated by Felicity Group LTD, a Dominic-registered company and is not subject to any regulation for the moment. Trading with an unregulated broker is risky, as they can do whatever they want to for trading account, draining up your money, blocking your account, rejecting your withdrawal application due to lack of regulation. When you step into the forex world, the foremost and most vital step is to find a strictly regulated broker to ensure a secure and transparent trading environment.

Market Instruments

With Fantex, traders can get access to a s wide range of trading instruments, and traders can freely choose from the following assets based their trading style and investment portofolios

• Forex pairs

• Commodities

• Stocks

• Cryptocurrencies

Account Types

Fantex offers four live trading accounts, namely Classic, Gold, Platinum, Premium., with the minimum initial deposit for each account ranging from $250 to $50,000, while detailed account features are not disclosed.

Leverage

The maximum leverage offered by Fantex is capped at 100:1 for forex trading, commodity trading and major indices trading. Leverage allow traders to have the chance to make a fortune, however, it can also cause to heavy losses, especially to inexperienced traders. Therefore, inexperienced traders are strongly recommended to choose the proper amount based on their forex knowledge and risk tolerance.

Spreads & Commissions

Trading Platforms

When it comes to trading platforms available, Fantex claims that it offers a proprietary trading platform called Fantex Webtrader. Unfortunately, this platform cannot check for the moment.

Payment Methods

Fantex allows traders to make a deposit and withdrawal for their accounts through Credit Cards including VISA and MasterCard, Cryptos, Bank Transfer and a third-party payment provider called Paytrio. However, other popular payment processors like Skril, Neteller, PayPal are not available.

The withdrawal section shows that withdrawal application is processed within 24 working hours. The withdrawal fees are: $50 for Bank Transfers, $35 for Credit Card, $25 for e-Payment. Additionally, there is a fixed 20% charge will be deducted from accounts that have not achieved a trading turnover of at least $200. The minimum withdrawal amount for all methods is $100 and for Bank Transfer, it is $250.