Breakaway Forex broker specializes in providing foreign exchange trading services, the company's official website https://portal.breakaway-fx.com/#/user/register?code=T00001, the company's legitimate regulatory information AustraliaASICAppointed Representative(AR), to enhance the security of the company's address Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia.
Breakaway Forex Broker
Basic information
Australia
Within 1 year Regulated in Australia Appointed Representative(AR) MT5 Full License Regional Brokers Medium potential riskCompany profile
Breakaway Information
Breakaway is an online financial trading platform that provides 400+ instruments CFDs on stocks/indices/metal/commodities/currency pairs/cryptocurrency. It also provides 24/7 support in multiple languages and free tools such as trading calculator, and economic calendar. It also provides high leverage up to 1:1000 and three account types. The minimum deposit is $10
Pros and Cons
| Pros | Cons |
| Regulated by ASIC AR | High leverage causing risks |
| 400+ trading instruments | |
| Demo account available | |
| Spreads as low as 0 | |
| Multiple types of accounts | |
| Live chat available |
Is Breakaway Legit?
Breakaway is regulated by ASIC in Australia, with the license number 001311740.
What Can I Trade on Breakaway?
Traders will trade CFD stocks and ETF products on Breakaway.
| Tradable Instruments | Supported |
| ETFs | ✔ |
| Forex | ✔ |
| Commodities | ✔ |
| Cryptocurrencies | ✔ |
| Shares | ❌ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
Account Type
Breakaway offers real accounts and free demo accounts. Generally, demo accounts are more friendly to novices. Traders only need to enter their name, contact information, and password to register a real account for trading.
| Account Type | Feature |
| Dome account | Newbie friendly |
| Live account | Realize transactions |
Breakaway Fees
Breakaway offers competitive spreads according to the account type.
Specifically, the Micro account initiates spreads from 1.5 pips, while the Standard account presents reduced spreads starting from 1.2 pips.
The ECN account goes further to offer as low as 0 pips. The Customize account, on the other hand, provides scalable spreads which start from a minimum of 0 pips.
Leverage
Breakaway leverage is as high as 1:1000. For traders, it has relatively high trading leverage and requires more risks.
Trading Platform
Breakaway allows traders to trade via the MT5 trading platform.
Traders can download different versions of MT5, including the desktop, iOS, and Android versions, to implement online trading.
| Trading Platform | Supported | Available Devices |
| MT5 | ✔ | Desktop, iOS, Android |
Deposit & Withdrawal
The minimum initial deposit requirement at Breakaway is reportedly only $10. However, the broker has not explicitly mentioned the acceptable methods for deposit and withdrawal.
Nevertheless, based on the banks and electronic wallets displayed as partners on their official website, we can deduce that the deposit and withdrawal methods are probably associated with them. These partners include entities like Maybank, PermataBank, bKash, and others.
Customer Support Options
Breakaway provides two contact methods, phone, and email, and provides 24/7 customer support.
| Contact Options | Details |
| Phone | +91 11 46605233 |
| support@breakaway-fx.com | |
| Supported Language | English, Japanese, Traditional Chinese, etc |
| Website Language | English |
| Physical Address | B-46, Jhilmil Industrial Area, Delhi-110095 |
The Bottom Line
Breakaway provides free trading tools for traders, including demo accounts, to facilitate user trading. However, users need to be aware that the high-leverage products it provides carry relatively high risks.
FAQs
Is Breakaway legit?
Yes, Breakaway operates legally.
Is demo trading available at Breakaway?
Yes. It offers risk-free demo accounts.
Does CentFX offer MT4/5?
Yes. It offers MT5 for desktop, mobile and web.
What's the minimum deposit required by Breakaway?
$10.
6655818
Taiwan
Their copy trading is super convenient, but they still charge an annual fee of 6000 for the EA.
Neutral
02-15