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Is FXTRADING.com a good choice for beginner investors?

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Getting started with FXTRADING.com

Considering taking your first steps into investing but unsure if FXTRADING.com is the right choice for beginners like you? Curious about transaction costs at FXTRADING.com or how user-friendly their platform is?

Unfortunately, FXTRADING.com is not considered good for beginners. If you'd like to see alternatives, check out our picks for the Best brokers for beginners.

FXTRADING.com is not the best choice for new investors
András
András Régely
Investments • Stock Market • Market Analysis

Together with my brokerage analyst colleagues, I have thoroughly tested the services of FXTRADING.com by opening a real-money account. Here’s what you need to know about FXTRADING.com:

  • A broker is good for beginners if it has low fees and an easy-to-use platform.

  • FXTRADING.com has a user-friendly mobile platform.

  • FXTRADING.com has Low transaction costs and a minimum deposit of $50.

  • Account opening at FXTRADING.com takes 1 day.

  • FXTRADING.com is a legit and trusted broker.

  • Browse the Best brokers for beginners for some great alternatives.

BrokerChooser score
4.3 4.3 /5
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74-89% of retail CFD accounts lose money

How to determine if a broker is good for beginners?

There are many factors to consider when evaluating a broker's services, possibly too many to list. However, in general, beginner-friendly brokers should have:

  • an excellent web and mobile trading platform
  • low fees
  • an easy account opening process
  • low minimum deposit
  • great educational tools
  • good customer service

Let’s explore how FXTRADING.com compares to its peers when it comes to platforms, fees, account opening and education tools. We're rating each category on a scale from 1.0 to 5.0, where 1.0 is the lowest and 5.0 is the highest.

FXTRADING.com services vs. similar brokers
Web platform score
2.8 stars 2.8 stars 2.8 stars
Mobile platform score
3.8 stars 3.3 stars 3.3 stars
Fees
Low Low Low
Account opening score
5.0 stars 5.0 stars 5.0 stars
Deposit and withdrawal score
4.4 stars 4.2 stars 4.2 stars
Education score
4.5 stars 2.0 stars 3.0 stars
Customer service score
4.2 stars 5.0 stars 5.0 stars

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74-89% of retail CFD accounts lose money

Do FXTRADING.com's platforms cater to beginners, and is assistance provided?

Navigating the complexities of trading can be challenging. Easy-to-use interfaces and comprehensive learning materials can simplify these complexities, especially for new investors like you. So, choose a broker known for its user-friendly platform and robust educational resources.

FXTRADING.com's web trading platfrom vs. competitors
Web user-friendliness
Mid-range Mid-range Mid-range
Web two-step authentication
No No No
FXTRADING.com's mobile trading app vs. competitors
Mobile user-friendliness
Great Great Great
2-step authentication
No No No
Biometric authentication
No No No
Educational reasouces are useful, especially for novice investors.

Educational resources, such as demo accounts and platform tutorial videos, can really help you get the hang of trading platforms and make smarter investment choices. FXTRADING.com's educational resources have the following advantages: Demo account. Educational videos. In-depth courses. However, they also have some disadvantages which could be improved: Few webinars.

Similarly, effective customer support is also vital as it ensures that you receive timely assistance with account issues, trading problems, and general inquiries.

FXTRADING.com's customer support is generally quite reliable and helpful. At FXTRADING.com, customer support can be reached via live chat, phone and email.

What are the fees like at FXTRADING.com and is there a minimum deposit?

Transaction costs at a brokerage, including commissions and spreads, can eat into investment returns, especially for active traders. Choosing a broker with low fees is crucial as it allows more of your money to stay invested and grow, enhancing overall profitability.

Think of broker fees like admission to an amusement park. Just as you pay to enter and enjoy rides, you have to pay flat fees or commission-based charges to access trading services. Like different amusements parks offering various experiences and prices, brokers offer varied fee structures tailored to specific types of traders or investment strategies. Ultimately, like weighing park costs against fun, investors consider broker fees relative to trading benefits.

What about deposit requirements? At FXTRADING.com, the required minimum deposit is $50. This means that you have to put at least $50 in your broker account to be able to start trading.

Is that more than you're willing to commit at this point? See if you can start trading with less at other brokers.

Broker
Minimum deposit
Bank transfer
FXTRADING.com
$50
Fusion Markets
$0
TMGM
$100
Deposit requirement and funding methods

So what if you made a deposit but decide later that you want to switch brokers and invest your money elsewhere? No worries - you can always opt out and withdraw your funds.

How is the account opening experience at FXTRADING.com?

Account opening at FXTRADING.com is fully online, meaning you can do it from the comfort of your chair. In fact, you don't even need a chair: you can simply do it on the go on your mobile phone.

Opening a brokerage account is always free of charge, but the time it takes differs from broker to broker. At some brokers, it's as quick as signing up for a new Gmail account. At others, it might take a couple of days as they run a background check on your data. At FXTRADING.com, it usually takes 1 day to have your account up and running.

BrokerChooser score
4.3 4.3 /5
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74-89% of retail CFD accounts lose money

Is FXTRADING.com legit?

We hear more and more stories each day about clients who lost their money to scammers through unregulated services. BrokerChooser only features brokers that have top-tier financial regulators. As such, FXTRADING.com is a legit and trusted broker.

Top-tier regulators are regulatory or self-regulatory authorities that apply, oversee and enforce the strictest requirements and standards to ensure that brokers supervised by them do not engage in fraudulent activities. Oversight by a top-tier regulator is a good indicator that the broker adheres to the highest regulatory standards and practices. FXTRADING.com is regulated by ASIC in Australia.

If FXTRADING.com is not the right broker for you, go ahead and check out our top picks for Best Brokers for Beginners in 2024 for some alternatives.

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74-89% of retail CFD accounts lose money

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Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

András Régely
Author of this article
As a Broker Analyst at BrokerChooser, I'm dedicated to providing data-driven insights that simplify the world of investments. With a solid academic background, including an MSc in Accounting and Finance from LSE, I bring a deep understanding of financial markets to my role. My mission is to assist retail investors in finding the perfect broker fit by leveraging my trading experience and analytical skills. At BrokerChooser, I merge my passion for trading with a keen eye for market trends, helping clients navigate online brokers confidently and effectively.
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