PatronFX Review – What to expect from the broker

PatronFX is a CFD Broker that features on its trading platform CFDs on Forex, commodities, indices. PatronFX is a subsidiary company of Forex TB Ltd, a corporation that is regulated and overseen in Cyprus by the CySEC. The same company also runs ForexTB – these two brokers have basically identical offer. The average spread is for EUR/USD 1.3 pips*. The PatronFX website is available in English and Polish.

What do we cover in our PatronFX 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.PatronFX.com
  • Leverage: up to 1:30
  • Instruments: CFDs – Forex, commodities, indices
  • Minimum deposit: N/A
  • Demo account: Yes, free of charge
  • Methods of deposit and withdrawal: Wire Transfer, Dotpay

PatronFX Trading Platform

For FX and CFD trading, PatronFX offers MT4 and Patron Web FX Browser Platform. MT4 provides a comprehensive solution for technical analysis and automated trading. MT4 can be downloaded to any computer or can be accessed via just a web browser or a mobile application. Patron Web FX Browser Platform can be accessed via just a web browser. The broker gives access to 96 trading instruments.

PatronFX Spreads

As any other CFD broker, PatronFX charges a spread fee. For the most current spread charges, please visit the PatronFX.com website. Here is a spread comparison table that contrasts PatronFX spreads with popular industry competitors.


Asset EUR/USD USD/JPY GBP/USD AUD/USD
PatronFX* 1.3 1.5 1.6 1.7
Plus500** 0.6 0.7 1.1 0.6
IQOption** 1.2 0.9 1.5 1.6

*Average spreads recorded on 21.06.2019 at 6:30 GMT for the standard account, spread charges were taken 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 PatronFX.

PatronFX Pros
  • Tight spreads
  • Full support in English as well as Polish
PatronFX Cons
  • No e-wallet nor credit/debit payments
  • no CFDs on stocks and cryptocurrencies
  • There is no info about the min. deposit

To sum up the PatronFX Review

PatronFX adheres to strict regulatory guidelines of the CySEC (272/15). The company is also in the register of FCA, CNB, KNF, REGAFI, CMVM. The broker has competitive spreads on most assets and offers popular trading platform 4. Unfortunately, the number of available assets is quite poor and does not include CFDs on stocks nor cryptocurrencies.

Your review can make a difference to other traders, please leave a comment if you have any personal experience with PatronFX.



Michael
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