Fx Trade Expert-The overview of minimum deposit, leverage, spreads

General Information

Fx Trade Expert is allegedly a CFD broker, founded in 2009, providing its clients with powerful trading platforms (MT4 and MT5), over 300 tradable assets with leverage up to 500:1 and spreads from 0.0 pips, a choice of three different account types and 24×5 customer support services.

Market Instruments

Fx Trade Expert advertises that it offers access to more than 300 trading instruments in financial markets, including forex, commodities, indices, share CFDs, Bitcoin CFDs, energy and precious metals as well.

Account Types

Apart from demo accounts, there are three live trading accounts offered by Fx Trade Expert, namely RAW ECN, Standard STP and PRO ECN. Opening any class of account requires the minimum initial deposit amount of $500.

Leverage

The maximum leverage ratio provided by Fx Trade Expert is much higher than most brokers, up to 500:1. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads & Commissions

Spreads and commissions are significantly affected by what type of accounts traders are holding. Fx Trade Expert says that clients on RAW ECN accounts can enjoy competitive spreads with $3.00 commissions per standard lot and per side. While clients with Standard STP accounts will enjoy tight spreads and no commissions, and clients with PRO ECN accounts can enjoy ultra-tight spreads from 0.0 pips with $2.00 commission per standard lot and per side.

Trading Platform Available

When it comes to trading platforms available,Fx Trade Expert gives traders two choices: MetaTrader4 and MetaTrader5, available for windows, iOS and Android terminals. MT4 and MT5, known as the industry standard trading platforms, both include everything traders need to chart assets, place orders, manage positions and alongside advanced trading infrastructure, competitive price and superior order execution with no dealing desk intervention.

Deposit & Withdrawal

Fx Trade Expert works with a wide range of deposit methods, ranging from Bitcoin, Domestic Fast Transfer (Australia Only), Wire Transfer (International EFT), BPAY (Australia Only), POLi Payments (Australia Only), Credit/Debit Card (Visa and MasterCard), JCB, China Union Pay, Neteller, Skrill, Broker-to-Broker Transfer, FasaPay to Thailand Instant Bank Wire Transfer. The minimum deposit amount is $500. Also, the broker takes some deposit fees. Deposit via China Union Pay will charge a fee of 1.30% - 2.50%, and Neteller, Skrill and Broker-to-Broker Transfer are subject to Neteller's fees, Skrill's fees and bank transfer fees respectively, while other deposit methods are free. The processing time of deposits varies depending on different deposit methods. For instance, deposit with Bitcoin usually requires 1-30 minutes, Domestic Fast Transfer with up to a few hours, during AEST Business hours, Wire Transfer and Broker-to-Broker Transfer with 2-5 business days, BPAY with 1-2 business days, POLi Payments and Skrill can be processed within 24 business hours, while the processing time of other deposit methods is instant. As for withdrawals, International Telegraphic Transfers will charge a processing fee of 20 units of account base currency, and it will deduct this fee from the withdrawal amount prior to depositing to the to the nominated bank account. The broker claims that it will process withdrawals Monday to Friday 9am-7pm, but requests received after 7pm will be processed on the following working day.

Tools

Fx Trade Expert also offers its clients a forex economic calendar, which is advertised as a tool for forex traders to track important, potentially market-moving events, and as a release schedule to assist traders to anticipate major movements in the market.

Customer Support

Fx Trade Experts customer support can be reached through phone: +1(111)522-0000, email: info@fx-tradeexpert.com or send messages online to get in touch. Company address: Sacramento, CA 90001.