Offers a range of trading platforms suitable for different trading styles.

Provides access to various currency pairs and financial instruments.

Potential for high leverage, allowing traders to amplify their positions.

Flagged as a suspected scam broker by the FCA, raising concerns about legitimacy.

Lack of transparency regarding regulatory status and operational practices.

Negative reviews and reports of difficulties in fund withdrawals from clients.

FX Daily broker Accounts

FX Daily Account Type

FX Daily offers several types of trading accounts to cater to different trader needs. The primary account types include:

Standard Trading Account: This is the most common account type, allowing traders to trade in standard lots of 100,000 currency units. The minimum deposit typically starts at $2,000, with leverage up to 1:400. Each pip is worth $10 when trading pairs where USD is the quote currency.
Mini Trading Account: Ideal for new traders, this account allows transactions in mini lots of 10,000 currency units. The minimum deposit is usually $250, and it offers higher leverage, often up to 1:400. Each pip is worth $1, making it a more manageable option for those with limited capital.
Pro Trading Account: This is designed for experienced traders, requiring a minimum deposit of $5,000. It offers maximum leverage of 1:400, with tighter spreads starting from 0.1 pips, making it suitable for high-frequency trading.
Managed Trading Account: In this account type, a broker or a hired manager executes trades on behalf of the account holder. It typically requires a minimum deposit of $10,000, and the management fees apply based on performance.

Opening a trading account with FX Daily involves several straightforward steps:

Choose Account Type: Decide on the type of account that suits your trading needs—Standard, Mini, Pro, or Managed.
Registration: Fill out the online application form, providing personal details such as your name, contact information, date of birth, and national ID number.
Documentation: Submit necessary verification documents, including:

A valid government-issued ID (passport or drivers license)
Proof of address (utility bill or bank statement dated within the last three months)

Account Verification: Await the broker's verification of your documents. This process generally takes a few hours to a couple of days.
Fund Your Account: Once verified, you will receive instructions to deposit funds into your account. FX Daily accepts various funding methods such as bank transfers, credit cards, and e-wallets.
Start Trading: After funding your account, you can download the trading platform provided by FX Daily, log in using your credentials, and begin trading.

By following these steps, you can successfully open a trading account with FX Daily and start your forex trading journey.