FXVV Forex Broker review
|Offices in||United Arab Emirates|
|Payment options||Bank Wire, Credit Cards, Skrill (MoneyBookers), Perfect Money, LiqPay, CashU. Western Union, Debit Cards|
|Demo Platforms||Meta Trader 4, cTrader|
|Account currencies||USD, EUR, GBP|
|Regulated by||Not Regulated|
|US Traders welcome?||Yes|
|Website available in (languages)||English, Russian|
|Support available in||English, Russian|
|Support methods||Live Chat, Phone|
|Account Types (micro standard executive islamic)||Started ECN, Standard ECN, Professional ECN|
|Minimum account size||$10|
|Minimum position size||0.01 Lots|
|Minimum spread on EUR/USD, pips||0.8|
|Trading instruments (GOLD; CFD, etc. and the leverage)||Gold & Silver, Forex. Maximum Leverage is 2000:1|
|Trading platforms||Meta Trader 4, cTrader|
|Digits after the dot in quotes||5|
|Overnight interest rates (swaps)||Yes|
FXVV forex broker was established in the year 2011 and also started internet based online trading the very same year. The company has it’s headquarter at office No. 3704 (Level 37) Executive Towers, Sheikh Zayed Road, Dubai, United Arab Emirates. It is an ECN or STP type broker and is an Independent broker. The company is not a regulated by any regulating authority. They also provide swap free accounts to their traders. They also offer MAM accounts to their customer. They also provide the facility of mobile trading to their traders which is of great help to all the traders who are constantly travelling. They also have many promotional offers for their customer. They offer various payment options which include Liberty Reserve, MoneyBookers, Perfect Money, LiqPay, CashU, Bank Wire, Debit/Credit card and Western Union. The website is very informative and is available in Russian and English. You can have USD, EUR and GBP as the account currencies. The customer support service is also very responsive and can be reached via email and live chat.
They offer free demo account with trading platform as Meta Trader 4 and cTrader. The real account also can be operated using these two trading platform. The minimum deposit required to open a Started ECN account is $10, for Standard ECN account is $5000 and for Professional ECN account it is $50,000 and the maximum leverage on each of them is 1:2000, 1:500 and 1:100 respectively. The minimum position size of Started ECN account is 0.01 lots, for Standard ECN it is 0.1 lots and for Professional ECN account it is 1 lot. They offer trading in Gold and Silver along with forex. They do not have any other trading instruments. The spread on the trade is as low as 0.8 pips and varies with the type of account that you hold.
The reviews are the best medium to know about a company’s performance in the market and the quality of service that it provides to its customers. The reviews for FXVV forex broker posted online seem to be mixed and the most liked feature of the company is that they offer ECN account for a minimum deposit of $10 and also the leverage on that account is as high as 1:2000. Their trading platform Meta Trader 4 and cTrader both are excellent and helps the trader execute their trades successfully. They offer a host of payment issue which is liked by many as it makes the deposit and withdrawal of money easy and hassle free affair. The leverage offered is as high as 2000:1 and low as 100:1 for professional account and is liked by many. However, a few cons mentioned in the reviews are that it not being regulated reduces its reliability factor. They do not offer customer support service via email or fax and is a concern for many. They allow the use of scalping, hedging and Expert Advisor. The overall review is good and the average rating given to the company by its users is 2.5 out of 5 based on 15 votes casted.