fx88 Broker Review

fx88 2025 Review: Everything You Need to Know

Summary

　　The fx88 review reveals a mixed reputation for this Cyprus-based forex broker, primarily due to its limited educational resources and customer support. However, it offers competitive trading conditions through the popular MetaTrader 4 platform and is regulated by the Cyprus Securities and Exchange Commission (CySEC). Traders should be cautious, particularly regarding the broker's acceptance of clients outside the EU.

　　Note: It's important to recognize that fx88 operates under different entities, which may affect user experience and regulatory oversight. This review aims for fairness and accuracy based on available information.

Ratings Overview

　　We rate brokers based on user reviews, expert opinions, and factual data.

Broker Overview

　　Founded in 2016 and headquartered in Limassol, Cyprus, fx88 is operated by Galactus Ltd. The broker is regulated by CySEC, which adds a layer of security for traders. fx88 provides access to the widely-used MetaTrader 4 platform, allowing for a user-friendly trading experience. The broker offers trading in forex, metals, and CFDs, focusing primarily on currency pairs and precious metals.

Detailed Information

• Regulated Regions: fx88 is regulated in Cyprus under CySEC, which is known for its relatively lenient regulatory framework compared to other regions like the UK or US. The broker does not accept clients from outside the EU, which limits its accessibility.
• Deposit/Withdrawal Currencies: The broker allows deposits in USD, EUR, and PLN. However, there is no mention of cryptocurrency support for deposits or withdrawals.
• Minimum Deposit: The minimum deposit for an ECN account is set at $100, while the premium account requires a minimum deposit of $20,000.
• Bonuses/Promotions: As of the latest information, fx88 does not offer any sign-up bonuses or promotions, likely in compliance with ESMA regulations.
• Tradable Asset Classes: The broker primarily offers forex trading, along with CFDs on metals. However, it lacks a diverse range of assets, such as commodities or cryptocurrencies.
• Costs (Spreads, Fees, Commissions): The average spread for the ECN account is around 1.3 pips, while the premium account offers tighter spreads starting from 0.1 pips but incurs a commission of $7 per standard lot.
• Leverage: Traders can access leverage up to 1:500, which is relatively high and may appeal to more experienced traders looking to maximize their exposure.
• Allowed Trading Platforms: fx88 exclusively offers the MetaTrader 4 platform, which is available on desktop, web, and mobile devices. This platform is favored for its advanced charting tools and automated trading capabilities.
• Restricted Regions: fx88 does not accept clients from the United States or any individuals outside the EU, which may limit its market reach.
• Customer Service Languages: Customer support is primarily offered in English, with no clear indication of availability in other languages.

Ratings Revisited

Detailed Breakdown

• 　　Account Conditions (6/10): fx88 offers two account types: the ECN account with a minimum deposit of $100 and the premium account requiring $20,000. The lack of Islamic accounts and managed accounts is a downside for some traders.

• 　　Tools and Resources (3/10): The broker provides minimal educational resources, lacking webinars, tutorials, or a glossary for beginners. This may hinder new traders' ability to learn and adapt.

• 　　Customer Service and Support (4/10): Customer support options are limited, with no live chat feature available. Traders may have to rely on email communication, which can lead to delays in response times.

• 　　Trading Setup (Experience) (5/10): While the MetaTrader 4 platform is robust and user-friendly, the lack of additional trading platforms may deter some traders looking for more variety.

• 　　Trustworthiness (7/10): As a CySEC-regulated broker, fx88 offers a degree of security, including segregated accounts and membership in the Investor Compensation Fund, which protects clients in case of default.

• 　　User Experience (5/10): The overall user experience is average, with some traders expressing concerns over the broker's limited offerings and customer support.

　　In conclusion, the fx88 review indicates that while the broker is regulated and offers competitive trading conditions, potential clients should weigh the limitations in educational resources, customer support, and asset diversity. As always, traders are advised to conduct thorough research and consider their individual needs before opening an account with fx88.