Loyal Forex Broker
|Offices in||Saint Kitts and Nevis|
|Payment options||Credit Cards, Debit Cards, Liberty Reserve and Wire Transfer|
|Demo Platforms||Meta Trader 4 (Limited with 14 days)|
|Account currencies||United States Dollar|
|Regulated by||Nevis Financial Services|
|US Traders welcome?||No|
|Website available in (languages)||English|
|Support available in||English|
|Support methods||Email, Live Chat, Web Form|
|Account Types (micro standard executive islamic)||Mini, Fixed Pro, ECN Pro|
|Minimum account size||$50|
|Minimum position size||0.01 lot|
|Minimum spread on EUR/USD, pips||1 Pips|
|Trading instruments (GOLD; CFD, etc. and the leverage)||Forex – 1:400|
|Trading platforms||Meta Trader 4|
|Digits after the dot in quotes||4|
|Number of currency pairs||60|
Loyal Forex was started by a group of private traders who say that they were in look of a honest broker in the market full of dishonest firms and then when they came with the idea of opening their own firm which would provide honest service to the clients. The company was established in the year 2008 and the very same year they also started their internet based online trading service. They have their offices in Saint Kitts and Nevis. They offer credit cards, debit cards, Liberty Reserve and Bank Wire transfer as the payment modes. The account currencies allowed is only United States Dollar and the company is regulated by Nevis Financial Services. Their website and customer support service is available only in one language that is English. The support staffs can be reached via email, live chat and web form. The customer service is of world class and the staffs are well trained to resolve any trade related issues. They have many bonus offers for their clients.
A free demo account is provided to the customers with Meta Trader 4 as the trading platform which is limited to 14 days of use. The customers are provided the same Meta Trader 4 platform when they start real trading and hence one can device their trading strategies while using the demo platform. The different account types with the company are Mini, Fixed Pro and ECN Pro. The minimum deposit required to open an account with them is $50 and the minimum position size is 0.01 lots. They offer only forex as the trading instrument and the maximum leverage on the same is 1:400. They have 60 currency pairs in which the traders can do their trade and it includes all the major pairs. Mobile trading and automated trading is also offered to the clients.
In your search for the right broker to start trading, reviews can be of great help. Reviews are the views posted by the users about a company’s performance and the quality of service. The reviews of Loyal Forex broker are very positive and have many satisfied customers. The features most liked by the users as mentioned in the reviews is that they have a fixed spread of 2 pips on EUR/USD as well as other major pairs. The spread across all the currency pairs is along with gold and silver is very narrow maximizing the profit of the customers. Many of them have written that no slippage, no margin calls and no commission or additional ticket fees is an added advantage of trading with this broker. Their affiliate program and IB programs conducted for professional traders is also liked by many. A few of the cons mentioned in the reviews is that their website and customer support service is available only in English. Also the payment options are very less which does not even include PayPal. However, the overall reviews are very positive and the average rating given to the company by its users is 6.0 out of 10.