86fxtrade Forex Broker

AspectInformationRegistered Country/AreaUnited StatesFounded year2022RegulationUnregulatedTradable assetsForex, share indexes, energy carriers, and commodity futuresDemo accounts✔Maximum LeverageUp to 1:100SpreadsFrom 1.2 pipsTrading PlatformsMetaTrader 5 (MT5)Customer SupportPhone: +12015283874Email: support@86fxtrade.com 86FXTrade is a trading platform that was launched in 2022. Utilizing the popular MT5, 86FXTrade offers over 70 tradable products. The platform provides several account types. However, it is not regulated and their minimum deposit requirements are too high.Pros and Cons ProsConsRange of tradable assetsAbsence of regulatory oversightMT5 availableHigh deposit minimum and spreadsNo commissions chargedNo 24/7 customer supportSecurity measures providedIs 86fxtrade Legit? 86fxtrade claims it offers many security measures including Investor Compensation Scheme, and Negative Balance Protection. It claims it is regulated by MFSA. However, the MFSA has warned that it is a unlicensed exchange.What Can I Trade on 86fxtrade? 86fxtrade offers 70 instruments available for trading, including forex, share indexes, energy carriers, and commodity futures.Tradable InstrumentsSupportedForex✔Commodities✔Indices✔Cryptocurrencies❌Shares❌ETFs❌Bonds❌Mutual Funds❌Account Type 86fxtrade offers two main kinds of accounts: the Weekly and Monthly accounts. Each account has different sub-account type. In the Weekly account, you can choose the Basic, Starter, Deluxe, Executive, and Gold accounts with the minimum deposits of $300, $1,000, $2,000, $3,000, and $4,000 respectively. Besides, in the Monthly account, there are the Premium, VIP, VIP Luxury, Silver Platinum, Gold Platinum, VIP Gold Platinum, Gold Luxury Platinum with the minimum deposits of $5,000, $75,000, $150,000, $350,0000, $500,000, $750,000 and $1,000,000 respectively. To this end, their minimum deposits are rather high.Account TypeMinimum Deposit (USD)Deposit BonusScalpingDaily SignalsFinancial PlanWeeklyBASIC$30010%✓✓✓STARTER$1,00015%✓✓✓DELUXE$2,00025%✓✓✓EXECUTIVE$3,00035%✓✓✓GOLD$4,00050%✓✓✓MonthlyPREMIUM$5,00075%✓✓✓VIP$75,00095%✓✓✓VIP LUXURY$150,000120%✓✓✓SILVER PLATINUM$350,000145%✓✓✓GOLD PLATINUM$500,000150%✓✓✓VIP GOLD PLATINUM$750,000185%✓✓✓GOLD LUXURY PLATINUM$1,000,000250%✓✓✓Leverage 86fxtrade offers leverage up to 1:00. High leverage can lead to significant gains, but it also increases the risk of substantial losses.86fxtrade Fees Account TypeSpreadsCommissionWeeklyBASIC1.9NoneSTARTER1.5DELUXE1.2EXECUTIVE1.2GOLD1.2MonthlyPREMIUM1.9NoneVIP1.5VIP LUXURY1.2SILVER PLATINUM1.2GOLD PLATINUM1.2VIP GOLD PLATINUM1.2GOLD LUXURY PLATINUM1.2Trading Platform 86fxtrade offers MT5 trading platform. Developed in 2000 by MetaQuotes Software Corporation, the MetaTrader 5 (MT5) platform swiftly became one of the world's most popular trading platforms across desktop, Android, and iOS platforms.Deposit and Withdrawal 86FXTrade offers credit/debit card payments (Visa, Mastercard), e-wallets (such as Webmoney, Neteller), and Bitcoin for deposits and withdrawals. It does not charge any fees for deposits but charges 2.9% for NETELLER and Skrill withdrawal.