FIXI Markets Review
- State of the art trading platforms
- Low fees and commissions when compared to other brokers
- Quality and professional Customer Support is available
- Restriction for traders from USA and many other countries
- Limited trading instruments. No ETFs, Cryptocurrencies and Stocks
Fixi Markets is an online forex and CFD broker that was established in the UK in 2017. They state that they offer multiple account types, modern trading platforms, financial security and quality customer support.
Fixi Markets is the trading name of Fixi Plc, which is registered in England & Wales under Company Number 05577579. The address is 1, King Street, London, EC2V 8AU, United Kingdom.
The website is available is in three languages: English, Russian and German.
From their official website, all seems right for this broker, but we will take a further step to review the services offered by Fixi Markets. Then, we will know if this broker is to be trusted or to be avoided.
Fixi Markets offer modern trading platforms which include MT4, Currenex and the newer MT5.
MetaTrader 4 (MT4)
MT4 is very popular in the forex trading world. It comes with tools for market analysis and everything required for advanced trading operations. It provides a wide range of analytical functions. It has up to 30 in-built technical indicators, 24 graphic objects and much more. It also enables automated trading with Expert Advisors (EA). MT4 provides the MQL4 IDE environment to help a trader create, test and optimize his own trading robot.
The MT4 is available for download on iPad/iPhone and on android phones. This enables mobile trading from anywhere. The MT4 Web trader is also available from Fixi Markets.
MetaTrader 5 (MT5)
This is the upgraded version of the very popular MT4 platform. With MT5, there are even more options for the trader. There are up to 100 charts, 21 timeframes, over 80 built-in technical indicators, very detailed price analysis and so much more. MT5 is fully equipped with all the necessary tools need to be a successful trader. Expert Advisors are also supported. MT5 is also downloadable on mobile devices like the android and iPhone.
This trading platform uses an innovative and patented technology to make the trading activities a rewarding experience. It grants access to multiple sources of liquidity (over 60 banks). It provides comprehensive reporting and fully auditable trade history. It incorporates trading strategies and risk management tools to optimize trades while maximizing market impact.
Fixi Markets is still a very new broker and so their asset portfolio is still increasing. At the moment, they offer 53 currency pairs for trading. These include the major, minor and the exotic pairs. 8 Indices are available which includes AUS 200, US 100, UK 100, EU 50 etc. Only 4 commodities are offered. They are US Oil, Gold Spot, Silver Spot and UK Oil. They are yet to offer ETFs and Stocks.
Fees and Commissions
Fixi makes their money from spreads as well as commissions charged on ECN trades performed by users of the Currenex platform. They offer both fixed and raw spread depending on the account type held by the trader. Standard Account holders pay on a fixed spread. The spread starts from 0.6pips for the EUR/USD. They do not pay commissions.
Pro Account holders are offered raw spreads which starts from 0pips for the EUR/USD currency pair, but they pay commissions starting from $7 per lot.
Islamic Account holders do not pay rollover charges or swap fees when they hold open positions overnight. This is in compliance to Sharia law. Both the Standard and Pro account holders pay rollover fees when they hold open positions overnight.
When compared to other brokers, Fixi Markets charges are low and affordable.
Security and Fairness
Fixi Markets are regulated by the FCA in the UK with FRN: 448399.
This means that they abide by the regulatory standards stipulated by the FCA. Client’s funds are segregated from Fixi Markets funds in case of broker insolvency. Their website and trading platforms are secured by modern security encryption softwares to prevent hacking and information theft.
Only $100 is required to open a standard account. They offer very low spreads when compared to other brokers. They also offer a demo account for practice purposes. This enables the prospective trader to understand the modern trading platforms offered. They consider the Muslim community by creating Islamic accounts for them. Also, they support multiple payment options.
‘Request a call back’ is featured on the website. Website visitors are required to fill a form inputting their Names, phone number and preferred language. The call back can be through email or phone call. It is available in six languages.
An instant chat messenger is available on the web site. A support staff is available for chatting on a 24/5 basis. Support through phone calls is available. The phone numbers for their offices in the UK and Georgia are available. The support staff are friendly, courteous and willing to help.
Fixi Markets is a good broker. Though, very new in the market but they seem to be on the right part. The provision of multiple and modern trading platforms are exactly what the expert trader needs to remain successful. Mobile trading is very popular among traders and Fixi Markets supports trading on multiple devices. Fixi Markets offer very low charges with competitive spreads and low commissions. They are fully registered and regulated by the appropriate regulatory authorities. Traders’ money is secure and safe. Their platforms are equally secured. The quality of the customer support is top notch. The support staff are well trained and knowledgeable. This broker is good for all level of traders.
Fixi Markets Q&A
The following are the common questions many customers asked about Fixi Markets.
Is Fixi Markets regulated?
Yes, it is regulated by the Financial Conduct Authority (FCA) in the UK.
Is Fixi Markets a scam?
No, Fixi Markets is a legitimate broker that is fully registered and regulated.