Fenghe Forex Broker

Fenghe Review SummaryFounded2023Registered Country/RegionIcelandRegulationunregulatedMarket InstrumentsCryptocurrency, Forex, Stocks, Equities, Global Indices, CommoditiesDemo Account✅LeverageUp to 1:100 (London Gold Account), 1:12.5 (Gold T+D Account), None (Paper/Physical Gold Account)SpreadNot specifiedTrading PlatformSirixStation-FengheMin DepositNo minimum depositCustomer SupportEmail: support@fengheltd.comFenghe Information Based in Iceland, Fenghe is a non-regulated brokerage providing a spectrum of market instruments including stocks, currencies, bitcoin, and commodities. It offers London Gold, Gold T+D, Paper Gold, and Physical Gold Accounts among numerous account kinds. Fenghe is open to different investors since it does not need a minimum deposit.Pros and ConsPros Cons Several account typesNo regulationsNo minimum deposit requirementAbsence of a clear fee schedule0 commissionsIs Fenghe Legit? Fenghe is uncontrolled, thus it is not under control by acknowledged financial agencies such as FCA or ASIC. Since the broker is not answerable to any set of rules, traders run more danger without control. Fenghe's domain (fengheltd.com) was registered lately on May 7, 2023, and is active based on WHOIS data; nonetheless, its short operational history calls questions regarding its legitimacy.What Can I Trade on Fenghe? Fenghe provides a range of trading possibilities, mostly concentrated on the gold market and cryptocurrencies. They also give access to other conventional instruments including commodities and currencies.Tradable Instruments Supported Forex✔Commodities✔Crypto✔CFD✔Indexes❌Stock❌ETF❌Account Types Fenghe provides several accounts. Designed for traders seeking maximum leverage, London Gold Account provides leverage up to 1:101. Gold T+D Account gives reduced 1:12.5 leverage. Neither a physical nor a paper gold account would be appropriate for conservative traders with large investment funds without any leverage.Leverage For its London Gold Account, Fenghe offers leverage ranging up to 1:101. For other accounts like Gold T+D, lower leverage is provided. Although leverage raises possible earnings, it also raises possible losses, hence using leverage should be done with great care.Trading Platform Fenghe offers the SirixStation-Fenghe platform, available for both PC and Android users. It is known for its simplicity, flexibility, and built-in risk control features.Trading PlatformSupported Available Devices Suitable for what kind of tradersSirixStation-Fenghe✔PC, AndroidTraders looking for simplicity, flexibility, and built-in risk control featuresDeposit and Withdrawal The platform allows several ways of making deposits and withdrawals. Deposit OptionsDeposit Options Min. DepositFees Processing Time Bitcoin$500Not mentionedInstantEthereum$500Not mentionedInstantTether (USDT)$500Not mentionedInstantTron$500Not mentionedInstant Withdrawal Options Withdrawal Options Min. Withdrawal Fees Processing Time BitcoinNot specifiedNot mentionedInstantEthereumNot specifiedNot mentionedInstantTether (USDT)Not specifiedNot mentionedInstant