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In this review, we are going to dig into the broker’s offering including taking a look at their trading platform, their customer service as well as the regulatory coverage. is a Forex and CFD broker that is based in Cyprus that was founded in 2008. Hence, they seem to be an established name in the industry. They are owned by Safecap Investment Ltd which manage a number of other online forex brands.

If you follow the English premier league then will already have caught your eye as they sponsor the arsenal football club. was also recently acquired by a technology company that is listed on the London Stock Exchange, Playtech.

Given the track record of as well as the purchase by a company as large as Playtech we are left with an initial favourable impression. We need to see whether the broker is indeed all it is cut out to be.

Minimum Deposit€100
Max Leverage200:1
Min Spreads2 pips
Support FeaturesLive Chat, Email and Telephone
Demo AccountDemo
Deposit & Withdrawal MethodsVisa, Mastercard, Diners, Bank Wire, Skrill
Account CurrenciesEUR, GBP, JPY, PLN and USD
JurisdictionUK, Europe, Australia, Asia, Africa and South America
Languages Available20
Investment TypesForex and CFDs on Forex, Commodities, Indices, ETFs and Stocks
Additional ToolsAutochartist
Mobile TradingiOS, Android and Windows
FXaxe Rating
9.2/10 Account Options has three types of trading accounts. These differ in terms of the type of support the client is entitled to as well as any other analysis tools which could make it easier for the trader to enter positions.

  • Classic Account. The classic account is the entry level account for the trader. You are entitle to daily market analysis, webinars & video tutorials as well as the standard desktop and mobile trading functionality. You require a minimum deposit of $100 in order to start trading with the classic account.
  • Standard Account. When you deposit over $2,500, you are upgraded to a standard trading account. With this account, you are entitle to all of the benefits of the Classic trading account but will receive a dedicated account manager. This could be useful should you have any immediate account related questions that you need attending to. You can also get access to their premium daily analysis which is also termed “news to mobile”.
  • Premium Trading Account.
    This is the top tier account available at With this account, you are entitle to all of the features of standard account as well as premium customer support. Regulation

One of the most important things to consider as a Forex or CFD trader is the regulation of the broker. As mentioned, is owned by Safecap Ltd. They are regulated by the Cyprus Securities and Exchange Commission (CySec) with regulation number 092/08.

This means that they are authorised to provide their services to clients in Europe through the MiFid agreement. You can read more about E.U. and global broker regulation here. is also regulated by the South African Financial Services Board (FSB) which means that they are allowed to offer their products in that country. also has an Australian Securities and Investments Commission (ASIC) license with number 424008. This licence was issued to STA Global Investments Ltd. This means that traders in the Oceania region can safely trade with has an office in Cyprus and is located at 148 Strovolos Avenue, 2048 Strovolos, P.O.Box 28132, Nicosia. You can reach them at their trading desk number of +357-2-203-0583.

From a regulatory standpoint, we can’t find any fault with Besides from the protections that these agencies afford traders, they are costly to maintain and could be revoked for any missteps. This means that will no doubt go to great lengths to maintain their favourable standing.

Unfortunately for traders in the USA and Canada, is not authorised to offer their services to these citizens.

Trading Platform

The trading platform at includes over 200 currency pairs as well as most major indices, single stocks and commodities. This is indeed quite an impressive array of assets to trade. Review

In terms of trading software, has a number of different platforms to choose from. They have 2 web based trading technologies. These are the Sirix Web Trader and the Markets Web Trader.

We opened up the trading platforms to see how intuitive and functional they were. Indeed, they seemed to be well laid out and easy to understand. Similarly, there are a number of different trading tools on the site that allows for extensive analysis. These include all of the oscillators and indicators which can be combined with pricing alerts for a refined strategy. Mobile App also has MetaTrader 4 functionality. This is advantageous for the more advanced traders who are used to using the industry standard in online forex trading software.

For those traders who are always on the move, has a mobile application. We fired up the mobile app and tried it out to see how user friendly it was. Using the app to trade was quite seamless. We were able to quickly enter and exit positions on the fly.

Something else that we found welcoming on the platform was a demo account. This is beneficial for both beginners and more advanced traders. For beginners, it allows them to improve their trading skills and for professional traders it allows them to ascertain whether the platform will work with their trading strategies. also has a social trading option where you can follow fellow traders and copy their positions. We did not examine this as we generally avoid social trading offers.

Spreads and Leverage has reasonable fixed spreads on their Forex pairs which start at about 2 pips for a major pair such as GBP/USD. Floating spreads have a minimum of 2.2 pips. When trading CFDs, the minimum spread depends on the asset traded but we observed about 0.008 pips on some major forex crosses. There are no commissions for trading at

Leverage is up to 200:1 on for Forex, 100:1 on indices and commodities and 20:1 on individual stocks. Although we have seen brokerages with higher leverage options, this is still reasonable. One has to be careful as leverage is risky and can lead to a complete loss on your account.

Deposits and Withdrawals

There are a number of options for deposits and withdrawals on Firstly, one can use credit or debit cards and they accept Visa, MasterCard and Diners. When we did a transfer via credit card, the funds arrived in the account immediately. They also have the option for wire transfer for the larger deposit sizes.

We also wanted to test how seamless the withdrawal process was. We initiated a withdrawal of $200 from our account. The money arrived almost instantaneously. We noticed that this was because we made a withdrawal request via credit card. says that they could take up to 3 days for a wire transfer withdrawal request. Of course, if you have a Skrill account you can fund your account with that.

Of course, these withdrawal and payment times via wire depend on how busy the interbank market is. One thing that we really found impressive was the fact that charges no fees on either a deposit or a withdrawal request. They even claim that they could reimburse the client for charges that they incurred from their bank in the case of deposits of more than $2,500.

Customer Support has made a considerable point about their customer service. They claim that they offer support in over 20 different languages as well as regional phone numbers for 35 different countries.

They also have live chat and email support that is apparently available 24 hours a day throughout the week. We wanted to test the customer support at so we decided to call the local London number during market hours.

Indeed, the customer support team was helpful and was able to address our query quite effectively. We also wanted to test the email support outside of market hours. At 5am GMT while trading Asian currencies, we reached out to the team. Although it took about 20 minutes to receive a response, it still addressed our concern.

Training and Education

If you are a new trader who wants to learn the Forex trading ropes or if you are an experienced trader who wants to pick up a new skill, then the training and education section of may be appealing.

These include a number of videos, webinars and seminars as well as personal 1-on-1 training. When we moved over to the News and Research section, we took a read through the daily forex briefings.

For traders who trade economic fundamentals, you could select to get full coverage of the daily news and events. For the technical analysis traders, one can make use of the Autochartist tool and they can elect to receive a number of alerts based on your chosen indicator (Fibonacci, Bollinger Bands etc.)

Autochartist also has a “power stats” tool. We found this quite interesting as it allowed the trader to analyse the historical statistics of a particular asset such as the volatility cross asset correlation.

Conclusion Logo

After our extensive FXaxe review, we are quite satisfied with Given their extensive regulatory footprint as well as long and clean track record one would be hard pressed to find any dishonesty.

In terms of the platform, our reviewer found the trading experience to be quite seamless. The range of trading tools both on the web platform and embedded into the MT4 platform was an added bonus. Even though the platform included all of these features, we found that it could still be user friendly enough for a new trader getting started.

Moreover, the unlimited Demo account was refreshing as it will allow any prospective trader to test out the platform without investing money and to see how it works for them.

One of the most impressive factors that stood out for us was the extensive range of instruments one can trade. To our experience we have not found a forex broker who had the range of tradable forex pairs and indices as

There were some downsides that we found with Firstly, although they offer clients the option of either a variable or a fixed spread, these are not the lowest that we have seen. Similarly, we have seen brokers with more leverage and professional traders may find the 200:1 ratio slightly limiting.

For clients who are based in Canada or the USA, they may be disappointed to find out that is not regulated and hence authorised to offer their services in those regions. FXaxe has a list of brokers who are approved for the USA.

Nevertheless, for traders who are not based in these regions, is indeed one of the best forex brokers that we have reviewed. There is a reason that Playtech acquired the broker for over €400 million and that is because of their stellar reputation. Therefore, gets our FXaxe stamp of approval.