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Summary: Fixi Markets has garnered mixed reviews in recent assessments, with some users praising its competitive trading conditions and regulatory oversight by the FCA, while others express concerns about its operational transparency and customer service. A key finding is the broker's transition to an offshore registration status, which has raised red flags among potential clients.
Note: It's crucial to recognize that Fixi operates under different entities across regions, which can significantly impact user experience and regulatory compliance. This review aims to present a balanced perspective based on various sources to ensure fairness and accuracy.
Category | Rating (out of 10) |
---|---|
Account Conditions | 6 |
Tools and Resources | 5 |
Customer Service and Support | 4 |
Trading Setup (Experience) | 6 |
Trustworthiness | 5 |
User Experience | 4 |
We evaluate brokers based on user feedback, expert opinions, and factual data.
Founded in 2008, Fixi Markets is a UK-based brokerage headquartered in London, offering a range of trading services across various asset classes, including forex, CFDs, and commodities. It primarily operates on the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, catering to both novice and experienced traders. Fixi is regulated by the Financial Conduct Authority (FCA), ensuring a level of client protection and operational integrity.
Regulated Geographic Areas: Fixi Markets is primarily regulated in the UK under the FCA. However, its transition to offshore registration has raised concerns about its legitimacy and operational transparency, as highlighted by various sources (55 Brokers).
Deposit/Withdrawal Currencies and Cryptocurrencies: The broker accepts deposits in GBP, USD, EUR, and AUD, providing flexibility for international clients. However, specific details about cryptocurrency trading options remain sparse, with some sources indicating an absence of crypto assets in their offerings (Forex Peace Army).
Minimum Deposit: The minimum deposit for opening a standard or Islamic account is set at $100, while a pro account requires a minimum of $1,000. This structure allows a range of traders to access the platform, although higher deposits are necessary for more advanced trading conditions (ForexSQ).
Bonuses/Promotions: There is no clear indication that Fixi Markets offers any sign-up bonuses or promotional offers, likely due to compliance with ESMA regulations that restrict such incentives for retail clients (FXStreet).
Tradable Asset Classes: Fixi provides access to various markets, including forex pairs, commodities like gold and oil, and indices. However, the absence of stocks and ETFs may limit options for some traders looking for more diversified portfolios (InvestingOnline).
Costs (Spreads, Fees, Commissions): The cost of trading with Fixi is relatively competitive, with spreads starting from 0.6 pips for standard accounts and 0.0 pips for pro accounts, where a commission of $7 per lot is charged. This pricing structure is appealing, but users should be aware of potential hidden fees associated with withdrawals (ForexSQ).
Leverage: Fixi Markets offers leverage up to 1:400, which can significantly amplify trading positions but also increases risk. Traders should exercise caution and implement risk management strategies when using high leverage (WikiFX).
Allowed Trading Platforms: The broker supports MT4 and MT5, both of which are renowned for their user-friendly interfaces and robust analytical tools. This flexibility allows traders to choose a platform that best suits their trading style (InvestingOnline).
Restricted Regions: Fixi Markets does not accept clients from several countries, including the USA, Canada, and various Middle Eastern and African nations. This limitation may affect potential traders looking to access the platform from these regions (55 Brokers).
Available Customer Service Languages: Customer support is available in multiple languages, including English, Spanish, German, Italian, Greek, Russian, Hebrew, Mandarin, Chinese, and Farsi. However, the quality of customer service has been criticized, with reports of slow response times (Forex Peace Army).
Category | Rating (out of 10) |
---|---|
Account Conditions | 6 |
Tools and Resources | 5 |
Customer Service and Support | 4 |
Trading Setup (Experience) | 6 |
Trustworthiness | 5 |
User Experience | 4 |
In conclusion, the Fixi review reveals a broker with potential but marred by operational challenges and recent changes in regulatory status. Prospective traders should weigh these factors carefully before engaging with Fixi Markets.