FXFlat Review |
|
| 📅 Year founded |
1997 (Trading from 2015) |
| 📈 Multiple top-tier regulation |
No |
| 📍 Headquarters |
Dusseldorf, Germany |
| 🌍 Country of regulation |
Germany |
| ✅ Regulators |
BaFin |
| 📈 Execution Type |
Market Execution |
| 💰 Minimum Deposit |
None |
| 🛡️ Negative Balance Protection |
Yes |
| 📉 Trading Platforms |
MetaTrader4 / MetaTrader5 / AgenaTrader / Trader Workstation |
| ☪ Islamic account |
Yes |
| 📉 Trading Instruments |
Forex / Commodities / Stocks / Futures / Options / ETFs / Bonds / Mutual Funds / Cryptocurrencies |
| 📱 Mobile trading |
iOS / Android / Windows |
| 💳 Payment Types Accepted |
Debit and Credit Card / Bank Wire Transfer / PayPal / Skrill / Sofort / Giropay / iDEAL |
| 🎮 Demo Account |
Yes |
| ⓒ Copy Trading |
Yes |
| 🎁 Bonus Offer |
None |
| 💰 Account Currencies |
Over 24 available |
| 📈 Minimum Trade |
0.01 Lots |
| 📈 Account Types |
PAMM / MAM / ECN / STP |
| 📈 Margin Trading |
Yes |
| 📈 Trading fees |
Low |
| 📈 Inactivity fee |
None |
| 💰 Withdrawal fee |
None |
| ☎ Customer Support |
24/5 |
| 💰 Max. Leverage |
200:1 |
| ✔️ Hedging Allowed |
Yes |
| ✔️ Scalping Allowed |
Yes |
| 💰 Commission |
0.2 basis points x volume / minimum of $3.50 USD |
| 💰 Spreads |
From 0.8 pips |
| 💰 Leverage |
Flexible |
| 💰 Currency Pairs (Total Forex pairs) |
54 + |
| 🔢 Number of clients |
Unknown |
| 🥇 Instruments Offered |
1 500 000 + |
| 📙 Education |
Webinars / Seminars / Trade Fairs / Events / Trading Videos |
WHAT IS FXFLAT?
FXFlat is a prominent online brokerage firm based in Germany, established in 1997. The broker offers a comprehensive range of trading services tailored to meet the needs of both individual and institutional investors.
One of the key aspects that sets FXFlat apart from other brokers is its robust regulatory framework.
FXFlat is regulated by the Federal Financial Supervisory Authority (BaFin) in Germany, which is known for its stringent regulatory standards and rigorous oversight, ensuring that brokers under its jurisdiction adhere to high levels of transparency, financial stability and client protection.
FXFlat supports multiple advanced trading platforms including MetaTrader4 (MT4), MetaTrader5 (MT5), AgenaTrader and trader Workstation.
These platforms offer a range of features and tools, catering to different trading styles and preferences, ensuring traders have access to a user-friendly and efficient trading environment.
FXFlat is a well-regulated and reliable broker that offers a wide array of trading instruments, advanced platforms and competitive pricing. With strong regulatory oversight by BaFin and commitment to client protection, FXFlat stands out as a trustworthy choice for traders looking to navigate the financial markets.
INTRODUCTION
In the dynamic and competitive world of online trading, choosing a reliable and well-regulated broker is crucial for achieving success. FXFlat, headquartered in Düsseldorf, Germany, has been a prominent player in the financial markets since its inception in 1997.
Founded with the vision of offering high-quality trading solutions, FXFlat has consistently evolved to meet the changing needs of the trading community. The broker’s longevity in the industry is a testament to its stability, reliability and commitment to excellence.
FXFlat’s comprehensive range of trading instruments includes forex pairs, commodities, stocks, futures, options, ETFs, bonds, mutual funds and cryptocurrencies. This extensive selection allows traders to diversify their portfolios and explore various trading opportunities across different asset classes.
The broker’s competitive pricing, with tight spreads and low commissions, further enhances the trading experience, making it an attractive choice for traders seeking cost-effective solutions. FXFlat’s commitment to customer service, education and continuous improvement has earned it numerous industry awards and accolades.
PROS & CONS
PROS
- The broker is regulated by BaFin, a top-tier regulator.
- Access to a wide range of trading instruments.
- Advanced trading platforms are available to the broker’s clients.
- Provision of StereoTrader, which can be integrated with the MetaTrader platforms for even more advanced features.
- Competitive spreads and commission charges.
CONS
- High minimum deposit requirements for some account types.
- Fairly complex fee structure.
TRADING INSTRUMENTS
FXFlat offers an extensive range of trading instruments, enabling traders to diversify their portfolios and access various financial markets. This broad selection caters to different trading strategies and preferences, making FXFlat a versatile broker for traders worldwide.
Forex
Forex trading is one of FXFlat’s core offerings, with access to over 50 currency pairs. Forex traders at FXFlat benefit from competitive spreads, fast execution and deep liquidity due to the interbank system implemented by the broker, allowing for efficient and effective trading.
Commodities
FXFlat provides a variety of commodity CFDs, allowing traders to speculate on the price movements of popular commodities. The number of commodities available is not clearly stated on the broker’s website, although this number is expected to be high considering the broker’s wide range of instruments available.
Stocks
FXFlat offers access to a wide range of global stocks through CFDs. Traders can invest in shares of leading companies from various sectors and regions from some of the leading stock exchanges around the globe.
Additionally, the broker also offers its traders access to penny stocks, something which is not readily available at other brokers.
Futures
For those interested in trading futures, FXFlat provides access to a variety of futures contracts on indices, commodities and financial instruments. Futures trading allows traders to speculate on the future price movements of these assets with leverage, enabling potentially higher returns.
FXFlat’s advanced platforms offer comprehensive tools and resources for effective futures trading.
Options
FXFlat also offers options trading, providing traders with the ability to hedge their portfolios or speculate on price movements with defined risk. Options on various underlying assets, including indices, commodities and forex pairs, are available.
ETFs (Exchange-Traded Funds)
FXFlat provides access to a wide range of ETFs, which are funds that track the performance of specific indices, sectors or commodities. ETFs offer a cost-effective way to diversify a portfolio and gain exposure to various markets.
Bonds
Traders looking to invest in fixed-income securities can access a selection of bonds through FXFlat. These include government bonds, corporate bonds and other debt instruments from various regions.
Mutual Funds
FXFlat offers access to a variety of mutual funds, which are professionally managed investment funds pooling money from multiple investors to invest in a diversified portfolio of assets. Mutual funds available at FXFlat cover different asset classes, including equities, bonds and mixed portfolios, providing traders with a range of investment options.
Cryptocurrencies
Cryptocurrency trading has gained significant popularity and FXFlat provides access to a range of cryptocurrencies through CFDs. Trading cryptocurrency CFDs allows traders to speculate on the price movements of these digital assets without owning them, benefiting from the high volatility and potential profit opportunities in the crypto market.
FXFlat’s diverse range of trading instruments makes it a comprehensive and versatile broker, catering to various trading preferences and strategies. Whether you’re interested in forex, commodities, stocks, futures, options, ETFs, bonds, mutual funds or cryptocurrencies, FXFlat provides the tools, resources, and market access you need to succeed.
TRADING PLATFORMS
FXFlat offers a suite of advanced trading platforms designed to cater to the diverse needs of traders, from beginners to experienced professionals.
Each platform provides unique features and tools to enhance the trading experience, ensuring that traders have access to the best resources to execute their strategies effectively.
MetaTrader4 (MT4)
MT4 is one of the most popular trading platforms globally, known for its user-friendly interface and robust functionalities. MT4 FXFlat offers various features such as advanced charting tools, automated trading tools, custom indicators, a variety of order types and real-time market data.
MT4 is ideal for forex and CFD trading, providing traders with the tools they need to analyse the markets and execute trades efficiently.
MetaTrader5 (MT5)
MT5 is the successor to MT4, offering enhanced features and capabilities. MT5 provides even more features which include additional timeframes, advanced order types, an integrated economic calendar, improved charting tools and multi-asset trading.
MT5 is suitable for traders looking for a more comprehensive trading experience with advanced tools and additional market access.
AgenaTrader
AgenaTrader is a professional trading platform designed for advanced traders and institutional investors. It offers features such as multi-asset trading, advanced charting and analysis, automated trading tools, risk management tools and great customisation tools.
AgenaTrader is ideal for traders who require advanced analysis and trading tools for multiple asset classes.
Trader Workstation (TWS)
Trader Workstation (TWS) is a powerful platform designed for active traders and investors. It provides access to a wide range of instruments, advanced trading tools, real-time monitoring, comprehensive order types and a highly customisable interface.
TWS is suitable for traders who require comprehensive market access and advanced trading tools.
StereoTrader
StereoTrader is a sophisticated add-on integrated with both MT4 and MT5, enhancing their capabilities with even more additional features such as scalping and hedging tools, chart trading and further features for trading automation.
FXFlat’s diverse range of trading platforms ensures that traders have access to the tools and features they need to succeed in the financial markets.
Whether you prefer the user-friendly and widely recognised MetaTrader platforms, the advanced capabilities of AgenaTrader, the comprehensive tools of Trader Workstation or the enhanced functionalities of StereoTrader, FXFlat provides a platform to suit your trading style and requirements.
ACCOUNT TYPES
FXFlat offers a variety of account types to cater to the diverse needs of traders, depending on their location and trading preferences. These account options are designed to provide flexibility and accommodate different trading strategies, risk appetites and investment goals.
Cash Account (European based)
The Cash Account is ideal for traders who prefer to trade using their available funds without leveraging. This account type is suitable for those who want to manage their risk by avoiding borrowed funds.
The Cash Account does not require a minimum deposit, however as there is no leverage available, sufficient funds are required to trade any instruments. This account type only allows traders to access stocks and options.
Margin Account (European based)
The Margin Account allows European traders to trade with leverage, enabling them to control larger positions with a smaller amount of capital. This account is suitable for more experienced traders who are comfortable with the risks associated with margin trading.
This account type allows traders to access leverage of up to 30:1 and requires a minimum deposit of 2 000 EUR. Additionally, traders can trade all available instruments with this account type.
Cash Account (Non-European based)
Similar to the European Cash Account, this account type allows non-European traders to trade without leveraging. It is suitable for risk-averse traders who prefer to use their available funds for trading.
While other features are similar to the European-based account, this account type requires a minimum deposit of 2 000 EUR.
Reg T Margin Account (Non-European based)
The Reg T Margin Account, compliant with Regulation T of the Federal Reserve Board, allows non-European traders to trade with leverage under specific regulations. This account type is designed for traders who are comfortable using margin to potentially enhance their trading returns.
This account type has access to all trading products, with a minimum deposit requirement of 2 000 EUR. Additionally, leverage and margin requirements are variable and updated according to traders position sizes in other instruments.
Portfolio Margin Account (Non-European based)
The Portfolio Margin Account is designed for professional and institutional traders who require higher leverage and more sophisticated risk management tools. This account type offers greater flexibility and lower margin requirements based on the overall risk of the portfolio.
However, this account type requires a high minimum deposit amount of 110 000 EUR.
Managed Account
The Managed Account is tailored for clients who prefer to have their funds managed by professional portfolio managers. This account type is ideal for investors who want to benefit from expert trading strategies and professional management.
Corporate Account
The Corporate Account is designed for businesses and institutional clients who need specialised trading solutions. This account type provides tailored services and features to meet the specific needs of corporate entities.
Further details on the corporate account can be obtained from the broker upon request, as clients need to qualify for this account.
FXFlat’s diverse range of account types ensures that traders can find an account that suits their specific needs, whether they are based in Europe or outside.
From Cash and Margin Accounts to specialised Portfolio Margin, Managed and Corporate Accounts, FXFlat provides the flexibility and tools necessary to accommodate different trading styles and goals.
HOW TO OPEN AN ACCOUNT
Opening an account with FXFlat is a straightforward process which can be accessed via the broker’s website. Potential traders are required to register on the broker’s website, before providing the document required by the KYC process.
Once these documents have been submitted and verified, traders are able to select their account type, deposit funds and begin trading. The broker states that their process should take around 3 days, before traders can begin trading.
DEMO ACCOUNT
FXFlat offers a free demo account for traders who want to practice their trading strategies and familiarise themselves with the platform without risking real money.
The demo account is available for 30 days and provides access to all trading instruments and platforms, allowing traders to simulate real market conditions.
SOCIAL TRADING AND COPY TRADING
FXFlat supports social trading and copy trading features, enabling traders to follow and copy the strategies of experienced traders.
In addition to the features on the MetaTrader platforms, the provision of StereoTrader allows for even more in-depth social and copy trading features on these platforms.
COMMISSIONS AND FEES
FXFlat offers competitive pricing with tight spreads and low commissions. The fee structure varies depending on the account type and trading instrument.
The broker’s fee structure is readily available on their website, although it is quite difficult to understand. Essentially, the broker charges commission of 0.2 basis points x volume, or alternatively, a minimum charge of $3.50 USD.
These fees are slightly higher when trading small amounts, however, they may be well suited to traders who trade higher volumes.
LEVERAGE
Leverage is a crucial aspect of trading that allows traders to control larger positions with a smaller amount of capital. FXFlat offers varying leverage levels based on the account type and trading instrument.
Leverage for European-based clients is limited to 30:1 due to regulatory restrictions, while traders outside of Europe have access to leverage of up to 200:1 on forex pairs.
It is always vital for traders to understand the risks associated with leverage and use it smartly to avoid significant losses.
WITHDRAWALS AND DEPOSITS
FXFlat provides a range of deposit and withdrawal methods to facilitate smooth transactions. These methods include bank wire transfers, debit and credit cards, PayPal, Skrill, Sofort, Giropay and iDEAL.
The broker does not charge any fees on withdrawals or deposits, however they do state that these fees may be applied by third-party financial service providers, depending on the transaction method.
CUSTOMER SERVICE
FXFlat offers excellent customer service, available through multiple channels to assist traders with their inquiries and issues. The customer service team can be contacted via email, phone, contact form and a call back service.
The customer service team is known for being responsive, knowledgeable and helpful, ensuring that traders receive timely and effective support.
SAFETY AND SECURITY
Ensuring the safety and security of traders’ funds and personal information is paramount when selecting an online broker. FXFlat places a high emphasis on maintaining a secure trading environment and adheres to strict regulatory standards.
FXFlat operates under the stringent regulatory oversight of the Federal Financial Supervisory Authority (BaFin) of Germany. BaFin is one of the most respected financial regulators globally, known for its rigorous standards and comprehensive oversight.
BaFin’s regulatory framework ensures that FXFlat maintains adequate capital reserves, adheres to client protection policies, complies with anti-money laundering regulations and follows KYC protocols.
Client funds are held in segregated accounts, separate from the broker’s operational funds. This segregation ensures that client funds are protected and cannot be used to cover the broker’s operational expenses or liabilities.
FXFlat provides negative balance protection to its clients, ensuring that traders cannot lose more than their account balance. This feature is particularly important in highly volatile markets, where sudden price movements can lead to significant losses.
FXFlat strictly adheres to AML and KYC regulations, implementing rigorous checks and monitoring processes to prevent financial crime. The broker’s compliance team continuously monitors client activities and transactions for suspicious behavior, ensuring that the broker remains compliant with regulatory requirements.
As a regulated broker, FXFlat participates in investor compensation schemes that provide an additional layer of protection to clients. In the event of the broker’s financial failure, these compensation schemes offer compensation to eligible clients, up to a 1 000 000 EUR, further enhancing the security of clients’ funds.
FXFlat’s strong regulatory framework and robust protective measures make it a highly secure and reliable broker for traders. With FXFlat, traders can have peace of mind knowing that their funds and personal information are well-protected.
PROMOTIONS
Currently, the broker does not provide any promotions or bonuses to new customers, however, potential clients are encouraged to regularly visit the broker’s website to see if this is updated.
RESEARCH
FXFlat provides a range of research tools and resources to help traders make informed decisions. These features are provided via the trading platforms the broker utilises.
These platforms have various advanced tools available including integrated economic calendars, advanced charting tools, news feeds and Expert Advisors (EAs). These research tools enable traders to stay updated on market developments and identify potential trading opportunities.
EDUCATION
FXFlat offers comprehensive educational resources to help traders enhance their knowledge and skills. These resources include webinars, seminars, trade fairs, events and trading videos.
The educational resources cater to traders of all levels, from beginners to advanced traders, ensuring that everyone can benefit from continuous learning.
GLOBAL AWARDS
FXFlat has received several industry awards, recognising its excellence in various areas. Some of the notable awards include the following:
- 1st Place Online Broker (2023) – Focus Money and DEUTSCHLAND TEST.
- Best Online Broker for Active Traders (2022) – Euro am Sonntag.
- One of Germany’s Best Financial Service Providers (2022) – FAZ Institut.
- Germany’s Best Financial Service Provider (2021) – Handelsblatt.
- Germany’s Best Financial Service Provider (2021) – FAZ Institut.
- 1st Place Broker Rating (2021) – Fuchs-Briefe.
These awards highlight FXFlat’s commitment to maintaining high standards and delivering quality services to its clients.
SAFE OR SCAM?
FXFlat stands out as a reputable and secure broker, backed by several factors that affirm its legitimacy and reliability.
One of the strongest indicators of FXFlat’s trustworthiness is its regulation by BaFin, a well-respected regulatory body.
Additionally, FXFlat has been operating since 1997, a testament to its stability and reliability in the financial industry. Over two decades of service, the broker has built a solid reputation for offering high-quality trading services and maintaining a secure trading environment.
FXFlat implements robust client protection measures including segregated accounts, negative balance protection and SSL encryption. These measures ensure that client funds are secure and personal information is protected.
The broker’s adherence to anti-money laundering (AML) and know-your-customer (KYC) regulations further demonstrates its commitment to preventing financial fraud and maintaining a secure trading environment.
Considering its regulatory oversight, longevity, robust client protection measures, positive reputation and industry accolades, FXFlat can certainly be regarded as a safe and reliable broker.
CONCLUSION
FXFlat is a well-established and reputable broker that offers a comprehensive suite of trading services. With a strong regulatory framework, advanced trading platforms and a wide range of trading instruments, FXFlat caters to the needs of both beginner and experienced traders.
The broker’s commitment to customer service, education and security makes it a reliable choice for anyone looking to trade in the financial markets. While there are some areas for improvement, such as the complex fee structure and limited regional availability, the overall advantages of trading with FXFlat far outweigh these drawbacks.
After conducting the above review, the team at Brokersuggest.com highly recommends this broker as a strong trading partner for all traders.
