Costra FX-Overview of Minimum Deposit, Leverage, Spreads

General Information

Costra FX is an online forex broker registered in Spain, boasting that offers a true ECN/DMA trading environment for its clients. However, the absence of key information about trading assets, account setting, trading platform, regulatory information, even the FAQ section, and the its incomplete website design all indicate that this broker is not safe one to trade with.

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We can see that Costra FXs regulatory status on WikiFX is classified as “No License” and it only receives a pretty low score of 1.33 out of 10 overall. This all means that trading with a broker like Costra FX is taking a huge risking of losing your money.

Market Instruments

From its simple website, we can see that Costra FX does offer foreign exchange trading services, while other instruments are not available.

Account Types

Aside from demo accounts, Costra FX offers four trading accounts to suit different traders trading needs, including Mini, Normal, ECN, and Nordia FX accounts.

To open a Mini account, investors are required to fund at least US$ 150 or equivalent amount of other currencies. While to open an ECN account, the requirement soars to $2,500.

Leverage

With the Costra FX platform, investors can use leverage up to 1:300, which is much above the levels considered appropriate by many regulators to protect retail traders.

Bear in mind that high leverage is not necessarily the good thing, as it can amplify gains as well as losses. It is important for traders to choose the proper amount that they feel most at ease.

Sreads & Commissions

Like its peers, Costra FXs spread setting is determined by trading accounts. The Mini account offers the widest spreads from 3.0 pips, almost twice the amount of the industry standards. The ECN account typically offers competitive spreads, starting from 0.2 pips. Commission details are not disclosed yet.

Trading Platform

Please note that Costra FX fails to offer its clients the industry-leading MT4 or MT5 trading platform, which is a big pity, as MetaTrader 4 and MetaTrader 5 are two most popular trading software in the forex market.

Customer Support

Traders with any inquiries or trading-related issues can get in touch with Costra FX through the following channels:

Telephone: +34 682 399 845

Email: info@costra-fx.net

Risk Warning

There is a level of danger that comes with trading on the financial markets. As sophisticated instruments, foreign exchange, futures, CFDs, and other financial contracts are typically traded using margin, which significantly increases the inherent risks involved. You can use the leverage to your benefit or to your detriment. Therefore, you should consider carefully whether or not this sort of investment activity is right for you.

Please note the information contained in this article is for general information purposes only.