Spy-Fx Forex Broker

Spy-FxReview Summary Founded2018 Registered Country/RegionChina RegulationNo Regulation Market InstrumentsForex Demo Account/ Leverage/ Spread/ Trading PlatformMT4 Minimum Deposit$500 Customer SupportContact form Email: support@adrofx.com Social Media: WhatsApp, Twitter, Facebook, InstagramSpy-Fx Information SPY-FX is a trading platform founded in 2018 and registered in China, which mainly focuses on foreign exchange (Forex) trading services, and supports the MT4 trading system, which requires a minimum deposit amount of $500. Although the platform claims to offer 24/7 customer service and competitive trading with low spreads, it is not regulated by any regulator and lacks transparency in terms of account features, fee structure, and deposit and withdrawal processes. In addition, the SPY-FX platform automatically deducts 25% of the client's trading profits as a performance fee, and it is recommended that users with deposits of less than $10,000 choose a Cent account or only trade a single currency pair (e.g. EUR/USD). Therefore, investors should exercise caution when using the platform.Pros & Cons ProsCons 24/7 availableLimited info on account features MT4 providedNo regulation Specialized in forex tradingNo MT5 Multilingual supportHigh minimum deposit No withdrawal feeIs Spy-Fx Legit? SPY-FX is not regulated, and traders need to be cautious when trading.What Can I Trade on Spy-Fx? Tradable InstrumentsSupported Forex✔ Stocks❌ Commodities❌ Indices❌ Bonds❌ Cryptocurrencies❌ Options❌ Mutual Funds❌ ETFs❌Account Types SPY-FX supports two types of live trading accounts: aCent Account and a Standard Account. When depositing less than $10,000, SPY-FX advises traders to open a Cent account, or can open a Standard account, and apply for support to connect it to only 1 currency pair (EUR/USD).Fees Spreads: No specific data is declared, but spreads are low. Membership Fee: SPY-FX automatically deducts a 25% performance fee from the trader's profits.Trading Platform SPY-FX supports trading using the MT4 platform. MT4 is a powerful and versatile trading platform that is widely used in forex, commodities, and cryptocurrency trading. It offers a wide range of technical analysis tools, custom indicators, and automated trading features such as Expert Advisors, and supports a wide range of account types and leverage options, making it one of the most popular trading platforms worldwide. Trading PlatformSupported Available Devices Suitable for MT4✔Desktop, Mobile, WebBeginners MT5❌/Experienced tradersDeposit and Withdrawal Deposit: The minimum deposit at SPY-FX is $500. Withdrawal: SPY-FX does not charge fees for withdrawals.