OffersFX Review 1
I've been trading with this company OffersFX for 5 months now and I'm satisfied and will continue to trade. This is a company worth recommending.
OffersFX Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
Business
License
I've been trading with this company OffersFX for 5 months now and I'm satisfied and will continue to trade. This is a company worth recommending.
OffersFX has garnered attention in the online trading community, with mixed reviews from users and experts alike. Established in 2010, this broker offers a range of trading services, including Forex, CFDs, and stocks. However, its regulatory standing and user experiences raise questions about its reliability. Key features include a minimum deposit of $200 and a proprietary trading platform.
Note: Its important to be aware of the different entities operating under the OffersFX name across various jurisdictions, which could impact your trading experience.
Category | Score (out of 10) |
---|---|
Account Conditions | 6 |
Tools and Resources | 7 |
Customer Service and Support | 6 |
Trading Setup (Experience) | 5 |
Trustworthiness | 5 |
User Experience | 6 |
We rate brokers based on user feedback, regulatory compliance, and the overall trading experience.
Founded in 2010, OffersFX is a brokerage firm based in Limassol, Cyprus, and is regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker primarily operates through its proprietary web-based trading platform, which lacks the popular MetaTrader 4 or 5, potentially limiting advanced trading capabilities. OffersFX provides access to a variety of trading instruments, including over 55 Forex currency pairs, stocks, commodities, and indices.
OffersFX is regulated by CySEC under license number 108/10. While this provides a level of security, some reviews have raised concerns about the broker's compliance history, particularly regarding anti-money laundering measures. Additionally, the broker operates under other entities in Belize and Australia, which may have varying regulatory standards.
The broker accepts multiple currencies for deposits and withdrawals, including USD, EUR, and AUD. Common payment methods include credit/debit cards, bank wire transfers, and e-wallets such as Skrill and Neteller. Importantly, OffersFX claims to impose no fees for deposits or withdrawals, which is a positive aspect highlighted in user experiences.
The minimum deposit required to open an account with OffersFX is set at $200, which is relatively low compared to industry standards. This accessibility may appeal to new traders looking to enter the market without a significant financial commitment.
Currently, OffersFX does not offer any bonuses or promotions, which may be a drawback for some traders seeking additional incentives. This lack of promotional offerings may contribute to the perception of OffersFX as a more straightforward, no-frills trading option.
OffersFX provides a diverse range of tradable assets, including Forex, CFDs on commodities (like gold and oil), and stocks. However, some reviews indicate that the absence of cryptocurrencies could limit the appeal for traders interested in this rapidly growing market.
The cost structure at OffersFX is primarily based on fixed spreads. However, user experiences suggest that the spreads can be relatively high, with reports of around 5 pips for the EUR/USD pair. This is considered unfavorable compared to many competitors who offer tighter spreads. Importantly, OffersFX does not charge commissions on trades, which is a positive aspect for cost-conscious traders.
OffersFX offers a maximum leverage of up to 1:400, which is attractive for traders looking to maximize their potential returns. However, it is essential to note that high leverage also increases risk, and traders should use it judiciously.
The broker utilizes its proprietary web-based platform, which is accessible on various devices. While this platform is user-friendly, the lack of support for widely used platforms like MT4 or MT5 may deter some experienced traders who prefer the advanced features these platforms offer.
OffersFX does not accept clients from the United States, which could limit its global reach. This restriction is common among many brokers due to regulatory complexities.
OffersFX provides customer support primarily in English, with options for email, phone, and live chat. While the support is generally responsive, some user reviews indicate that the quality of assistance can vary.
Category | Score (out of 10) |
---|---|
Account Conditions | 6 |
Tools and Resources | 7 |
Customer Service and Support | 6 |
Trading Setup (Experience) | 5 |
Trustworthiness | 5 |
User Experience | 6 |
OffersFX has a relatively low minimum deposit requirement, making it accessible for new traders. However, the high spreads reported by users could diminish the profitability of trades, impacting the overall account conditions.
While OffersFX offers a proprietary platform, the absence of MT4 or MT5 limits advanced trading tools. Nonetheless, the broker provides educational resources, including video tutorials and market analysis, which can benefit traders.
Customer support is available through multiple channels, but user experiences suggest variability in response quality. This inconsistency could be a concern for traders needing immediate assistance.
The trading experience at OffersFX is hindered by the high spreads and the lack of a widely recognized trading platform. Users have noted that the execution speed is adequate, but the overall experience does not match that of more established brokers.
While OffersFX is regulated by CySEC, past compliance issues raise concerns about its trustworthiness. User feedback also highlights a lack of transparency regarding fees and spreads, which is crucial for building trust.
Overall, user experiences with OffersFX are mixed. While some appreciate the low entry barrier and no commission structure, others express dissatisfaction with high spreads and customer service quality.
In conclusion, OffersFX presents a mixed picture for potential traders. While it offers certain advantages such as low minimum deposits and a regulated environment, the high spreads, limited platform options, and past compliance issues warrant careful consideration. Prospective users should weigh these factors against their trading needs and preferences before committing.