FX88 is a Forex and CFD Broker that features on its trading platform CFDs on Forex, gold and silver. FX88 is a subsidiary company of Galactus Ltd, a corporation that is licensed by the CySEC in Cyprus. Typical spread for EUR/USD is 1.2 pips*, real trading is possible with the minimum deposit of $100. The FX88 website is available in English, Polish and Spanish.
What do we cover in our FX88 Review?
|General Risk Warning: 74–89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.|
Basic information about the broker
- Website address: www.FX88.com
- Leverage: up to 1:30
- Instruments: CFDs – Forex (44 pairs), gold and silver
- Minimum deposit: $100 (accounts held in EUR/USD/PLN)
- Demo account: Yes, free of charge (30-day expiry)
- Methods of deposit and withdrawal: Wire transfer, Neteller, Skrill, Dotpay, Trustly
FX88 Trading Platform
For FX and CFD trading, FX88 offers MT4. A popular platform used not only for executing trades but also for analyzing financial markets and automated trading. MT4 can be downloaded to any computer or can be accessed via just a web browser or a mobile application. The trading platform gives access to 46 assets.
As any other CFD broker, FX88 charges a spread fee. For the most current spread charges, please visit the FX88.com website. Here is a spread comparison table that contrasts FX88 spreads with popular industry competitors.
*Typical spreads under normal forex trading conditions for the premium account type. Spread charges were recorded on 24.06.2019 at 15:55 GMT from the website of the broker. **Spreads recorded on 26.09.2019 at 11:26 GMT from the trading platform of the broker.
Advantages and disadvantages
Every Broker has its pros and cons, let’s have a look at the ones that elevate & denounce FX88.
- Low minimum deposit
- Lower number of CFDs (no CFDs on indices, shares, cryptocurrencies)
- Time limited demo account
- No credit/debit card deposits and withdrawals
To sum up the FX88 Review
FX88 adheres to strict regulatory guidelines of the CySEC (No 322/17.). The broker offers a popular trading platform MT4 and a free demo account for practice trading (limited to 30 days). The amount of available CFDs is very poor, according to the website of the broker, there are no CFDs on indices, shares nor cryptocurrencies. Spread that the broker charges on FX pairs and precious metals are average in the industry.
Your review can make a difference to other traders, please leave a comment if you have any personal experience with FX88.
- CFD Trading vs ETF Trading – explained for dummies - January 26, 2021
- Best Brokers That Accept ITIN - December 20, 2020
- Top Hidden Factors Influencing Choosing a Bitcoin Exchange - December 3, 2020