FXLider offers just one type of live trading account – Standard. According to the broker’s site, there is also an ECN trading account, but we could not find any further details about it. There is also a demo account with virtual $100 000 for those who want to try trading without risk.
The broker’s clients can trade in around 50 forex pairs – major, minor and some exotics, and CFDs on oil, gold, agricultural products, stocks and indices.
The Company. Security of Funds
Company Country Regulation
Fortrade UK FCA
FXLider is owned and operated by the UK forex broker Fortrade, which is regulated by UK’s Financial Conduct Authority. It is one of the several forex brokers owned and operated by Fortrade, that are targeting different global markets. In the case of FXLider it is mostly aimed at the Western Balkans and is among the leaders in Macedonia, Bosnia, Albania and Kosovo.
Falling under the jurisdiction of FCA, FXLider is required to keep the client funds in segregated accounts. It is also a member of the Financial Services Compensation Scheme (FSCS) that covers up to £50,000 per client in case of the broker’s insolvency.
Minimum initial deposit
The minimum initial deposit required by FXLider is $ or € 100, which is not a small sum, especially considering the main market of the broker. Besides, there are other FCA-regulated brokers like IG and XM, that have much lower deposit requirements of $1 and $5, respectively.
Spreads and commissions
For most of its trading accounts FXLider offers its clients fixed spreads and does not additional fees and commissions. The company expenses and profits are included in the spreads instead.
The spread for some of the more popular forex pairs like EURUSD, EURGBP and USDJPY is 3 pips. This is a little above the average for the industry, but is the same as that of Fortrade.
The maximum leverage FXLider gives to its clients is 1:200, available for the majority of forex pairs. For the more exotic pairs the broker gives a max leverage of 1:25.
The 1:200 leverage is not too lucrative for many retail brokers, but is less risky than much higher leverage like the one offered by Grand Capital – up to 1:2000. In some countries like the US, the leverage cap is set at 1:50 and UK’s FCA will fairly soon set it at the same level, at least for some CFDs. In Japan the max leverage is even lower: 1:25.
FXLider, like the other Fortrade affiliates that we have already reviewed, is offering two trading platforms: MetaTrader 4 (MT4) and Sirix. Additionally, FXLider offers social trading with the ZuluTrade platform.
The broker also has some own trading platforms: the mobile FXLider Mobile, available for Android and iOS devices, the copy trading platform FXLider Copy Trade and the FXLider Pro Trader.
FXLider has several types of promotions, both for new clients and for active clients. For the former the broker offers a welcome bonus, a credit bonus and a balance bonus. To its active clients FXLider runs a “second time deposit promotion”, credit bonus and payoff, balance bonus, a priority client bonus and incentives for long term traders.
Methods of payment
FXLider’s clients can fund their accounts through a bank transfer, with a credit card or through the online payment systems Neteller and Skrill.
This is a fairly standard set of funding options offered by many other brokers like FIBO Group and FxPro.
Thanks to the UK license of its owner, FXLider is a stable and well-regulated forex broker, but its trading conditions are nothing remarkable and it does not stand out among its peers. On the other hand, considering its main market which is probably not very saturated, it doesn’t have to make a very significant effort.
The variety of trading platforms it offers, however, is rather striking.
FXLider Review Conclusion
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