FOXITRADE Forex Broker

Foxitrade Forex Broker - Complete Information Guide

1. Broker Overview

　　Foxitrade is an online trading platform that provides access to various financial instruments, including forex, CFDs, and cryptocurrencies. The company, Foxi Trade Limited, was established in 2020 and is headquartered in Majuro, Marshall Islands. It operates as a private entity and primarily serves retail clients looking to engage in forex trading and other investment opportunities.

　　Since its inception, Foxitrade has aimed to provide a user-friendly trading experience with competitive trading conditions. The broker has made significant strides in expanding its service offerings, including the introduction of multiple account types and trading platforms. Although specific milestones in the companys development are not well-documented, Foxitrade has positioned itself as a player in the online trading sector by leveraging technology and market analysis tools.

　　Foxitrade operates on a retail forex brokerage model, allowing individual traders to access global financial markets. The company emphasizes providing a diverse range of trading instruments, catering to various trading strategies and preferences.

2. Regulatory and Compliance Information

　　Foxitrade is registered in Marshall Islands, and it operates without regulation from any prominent financial authority. The company claims to be registered with the International Regulatory Institution (IRI) under the number 107712; however, this registration does not provide the same level of oversight as more recognized regulatory bodies like the FCA or ASIC.

　　Due to its offshore status, Foxitrade does not offer the same protections for client funds as regulated brokers. The company does not participate in any investor compensation schemes, and there is no segregation of client funds from company operational funds. Furthermore, Foxitrade adheres to basic KYC (Know Your Customer) and AML (Anti-Money Laundering) compliance measures, requiring clients to submit personal identification documents during the account registration process.

　　Given the lack of stringent regulation, potential clients should exercise caution when considering Foxitrade as their trading partner.

3. Trading Products and Services

　　Foxitrade offers a variety of trading products across multiple asset classes. The broker provides access to over 5 forex currency pairs, including major and minor pairs, allowing traders to engage in diverse trading strategies. In addition to forex, Foxitrade offers CFDs (Contracts for Difference) on various instruments, including:

• Indices: Major global indices for diversified exposure.
• Commodities: Precious metals and energies.
• Cryptocurrencies: Popular digital currencies for speculative trading.

　　The company frequently updates its product offerings, though specific details on new instruments or updates are not readily available. Foxitrade focuses primarily on retail trading services, providing a platform for individual investors to trade various financial instruments.

　　While there is no information indicating that Foxitrade offers institutional services or white-label solutions, the broker aims to provide a comprehensive trading environment for retail clients.

4. Trading Platforms and Technology

　　Foxitrade supports the MetaTrader 4 (MT4) trading platform, which is widely recognized for its user-friendly interface and robust analytical tools. The MT4 platform is available for desktop, web, and mobile applications, making it accessible for traders on various devices.

　　The broker does not appear to offer a proprietary trading platform, focusing instead on the established features of MT4. The platform supports multiple order types, advanced charting capabilities, and automated trading through Expert Advisors (EAs).

　　In terms of execution models, Foxitrade primarily operates on a Market Making basis. The broker's servers are located in strategic data centers to ensure low latency and reliable order execution. However, specific details regarding the infrastructure and API access for automated trading are not disclosed.

5. Account Types and Trading Conditions

　　Foxitrade offers several account types to cater to the needs of different traders. The standard account requires a minimum deposit, although specific figures are not disclosed. The trading conditions include:

• Leverage: Up to 1:100, which allows traders to amplify their positions.
• Minimum Trade Size: The minimum trade size is not explicitly stated.
• Overnight Fees: The broker does not provide detailed information on swap rates or overnight fees.

　　Additionally, there may be advanced account options available, such as VIP accounts, but specific details are not provided. Foxitrade does not offer Islamic accounts or corporate accounts at this time.

　　A demo account is available for new traders to practice their trading strategies without financial risk. However, the terms surrounding the demo account's availability are not clearly defined.

6. Fund Management

　　Foxitrade supports various deposit methods, including bank transfers and credit/debit cards. The minimum deposit requirement varies by account type but is generally accessible for most traders.

• Deposit Processing Time: Deposits are typically processed instantly, except for bank transfers, which may take longer.
• Deposit Fees: The broker does not charge deposit fees; however, banks may impose their charges.

　　For withdrawals, Foxitrade allows clients to request funds through the same methods used for deposits.

• Withdrawal Processing Time: Withdrawals are processed within one working day, but the time to receive funds may vary depending on the method used.
• Withdrawal Fees: There are no withdrawal fees charged by Foxitrade, although banks may impose fees for processing.

7. Customer Support and Educational Resources

　　Foxitrade provides customer support through multiple channels, including:

• Phone: +1 (715) 814 - 3959
• Email: info@foxitrade.com
• Online Chat: Available on their website.

　　The support team operates during business hours, but specific details regarding the time zone coverage are not disclosed. Foxitrade offers support in English and Bahasa.

　　In terms of educational resources, Foxitrade provides limited information. There are no comprehensive educational materials or market analysis services listed on their website. Traders may not find sufficient resources to enhance their trading knowledge or skills.

8. Regional Coverage and Restrictions

　　Foxitrade primarily serves clients from various regions, but specific countries where it operates are not clearly outlined. The broker may have restrictions on clients from certain jurisdictions, particularly those with stringent financial regulations, such as the United States.

　　The absence of a clear list of restricted countries means potential clients should verify their eligibility before engaging with the broker.

　　In conclusion, while Foxitrade offers a range of trading products and services, potential clients should be aware of the broker's unregulated status and exercise caution when considering it as their trading partner. The Foxitrade broker operates in a competitive space, but the lack of regulatory oversight may pose risks for investors.