FXLider is a broker that offers its clients currency and CFD trading on various trading platforms.
FXLider is owned and operated by Fortrade, a UK-based Forex broker, which is regulated by the FCA. Fortrade owns several companies that target different regions. In the case of FXLider, he mainly works for traders from the Western Balkans and ranks among the top Forex brokers in Macedonia, Serbia, Bosnia, Albania and Kosovo.
Coming under FCA jurisdiction, FXLider is required to keep client funds in segregated accounts. He is also a member of the Investor Compensation Program (FSCS), which guarantees a refund of up to £ 50,000 per client in the event of a broker's insolvency.
Terms of trade
FXLider offers only one type of live trading account - Standard. According to the information on the website, there is also an ECN trading account, but we have not found confirmation of this. There is also a demo account with virtual $ 100,000. This is a great solution for newbie traders or those looking to test out a trading platform.
Clients can trade 50 currency pairs - major, minor and some exotic, as well as CFDs on oil, gold, agricultural products, stocks and indices.
Minimum initial deposit
The minimum initial deposit required by FXLider is $ 100 or € 100. This is not to say that this offer is the most profitable, especially considering the broker's main market. Many companies offer to start with $ 1.
Spreads and commissions
FXLider offers its clients fixed spreads and does not charge additional fees. The company's expenses and profits are included in the spreads.
The spread for some of the more popular currency pairs such as EUR / USD, EUR / GBP and USD / JPY is 3 pips. This is slightly above the industry average.
FXLider provides its clients with up to 1: 200 leverage, which is available for most currency pairs. For more exotic pairs the maximum leverage is 1:25.
The 1: 200 leverage is not very beneficial for many retail brokers, but it limits the broker's risk. In some countries, such as the USA, leverage is up to 1:50, in Japan the maximum leverage is even lower, 1:25.
FXLider, like other Fortrade subsidiaries, offers two trading platforms: MetaTrader 4 (MT4) and Sirix. In addition, FXLider offers social trading with the ZuluTrade platform.
The broker also has its own trading platforms: FXLider Mobile available for Android and iOS devices, FXLider Copy Trade and FXLider Pro Trader.
FXLider offers several types of promotions for both new clients and active traders. The first available are the welcome bonus, credit bonus and balance bonus.
For its active clients, FXLider is launching a "second deposit promotion", a credit bonus and a priority client bonus and incentives for long-term traders.
Ways of payment
FXLider customers can fund their accounts via bank transfer, credit card, or through the online Neteller and Skrill systems. This is a fairly standard set of payment options offered by many other brokers.
regulated broker; a large selection of trading accounts.
high minimum deposit; high spreads.
FXLIDER is a brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.
In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.
The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.
The broker FXLIDER makes profit from traders' transactions, as a rule, in two main ways.
The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.
The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.
Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.
We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.
The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.
Bonuses are traps. They are generously distributed for anything: for registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money, mixed with bonus money, it will be necessary to fulfill a number of virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.
In the User Agreement, a clause can also be disguised that allows the broker to manage the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points is the place of registration and regulation of the company's activities.
Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.
However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.
But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point - this is the regulation of the broker's activities. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization, considering disputes between its members - brokers and their clients.
If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.
It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.
Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.
Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.
Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over the world.
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Before any trade and choosing a broker You must always read reviews on this site and on other sites. Brokers who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the broker. FXLIDER received a score of 1 of 5 on our resource.