FIXI Markets Review 2024
Website: www.fiximarkets.com
Min. Deposit: US$ 100
Leverage: 1:30
Trading Platforms: MT4, MT5, Currenex
Regulation: FCA
Headquarters: UK
Founded: 2008
Regulatory Licenses:
- FIXI PLC - authorized by FCA (UK) registration no. 448399 not active
Updated on January 25, 2024
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FIXI Markets has carved a niche for itself in the financial markets with over two decades of extensive experience. With its headquarters situated in the bustling city of London, this esteemed company also marks its presence across various global locations, including Australia, where it offers unparalleled support for trading. This is achieved through its access to the latest market data and a rich pool of liquidity from multiple sources. At the heart of FIXI's mission lies the commitment to uphold the integrity of trading by providing a plethora of services and support solutions. This ensures that traders are well-equipped with the latest market data and liquidity options. The trading instruments provided encompass Forex, Index, and Commodities trading, alongside Spread Betting, which is specifically available to clients based in the UK.
Is FIXI Markets Safe or a Scam? ▲
FIXI Markets, along with its trading names FIXI Select and FIXI eFX, operates under the corporate umbrella of FIXI PLC. This entity is duly authorized and regulated by the Financial Conduct Authority (FCA) in the UK. Such regulation mandates adherence to stringent rules concerning the protection of client funds, operational standards, and the overall trading environment, ensuring a model that prioritizes convenience for the trader. The regulated status of FIXI Markets guarantees a clear distinction between the client's money and the company's funds, ensuring that client money is kept in segregated accounts at all times. Additionally, FIXI Markets is a proud member of the Financial Services Compensation Scheme (FSCS), which offers compensation up to the first £50,000 of an initial investment in the unfortunate event of company insolvency. Moreover, the company has made significant investments in technology to enhance the security of client funds.
FIXI Markets offers a selection between the most powerful industry platforms, including MT4, MT5, and Currenex. This brokerage provides its trading clients with the highest service level for those utilizing algorithmic trading or who use automatic trading systems or Expert Advisors (EAs). A wide array of technological enhancements is available for traders, including, among others, API and VPS solutions that allow for low-latency price feeds in a conducive trading environment.
MT4 stands out as the most popular, user-friendly, and reliable online forex trading platform available, enabling financial market analysis, trading operations performance, and the use of trading robots (EAs), in addition to facilitating the copying of other traders' deals. MT5, as an advanced iteration, caters to the modern trader with enhanced financial trading functions and superior tools for both technical and fundamental analysis, available across desktop, mobile, and web versions.
The Currenex platform offers robust access to liquidity sources and order management functions, allowing the aggregation of liquidity streams into a sophisticated trade settlement system. It provides the professional trading community with live, streaming, executable bids, and offers for instant execution, along with market data, trading strategies, and risk management tools to optimize trades.
Additionally, the broker periodically hosts competitions, offering participants the chance to test their skills or trading intuition with the chance to win valuable prizes. The Demo Trading Competition is an ideal opportunity for traders wishing to develop their strategies in a risk-free environment, before moving on to real account trading. Competitors aim to top the leaderboard, sharing a $7,500 withdrawal prize pool across 12 winning positions.
FIXI Markets caters to a diversity of trader needs across its platforms, offering Standard, Pro, and Islamic Account options. Both the Standard and Islamic accounts require a minimal initial deposit of $100, with a leverage level up to 1:30 and spreads starting from 0.6 pips on EUR/USD pairs. The Islamic account, specifically designed for Muslim traders, features no swaps, adhering to the principles of Islamic finance.
The Pro Account targets advanced or larger-scale traders and offers a raw spread from 0.0 pips with a commission charge per trade starting from $7. Alongside the comprehensive support provided by the company, additional features are accessible with a balance requirement of $1,000 for account opening.
Trading costs are determined through spreads, representing the floating tight spread sourced from the liquidity provided by Price Action Point.
It's important to note that FIXI Plc cannot accept applications from individuals in certain countries, including but not limited to the USA, Canada, Iran, Iraq, Syria, Lebanon, Liberia, Libya, Somalia, Burma, Eritrea, Sudan, Zimbabwe, the Democratic Republic of the Congo, Republic of North Korea, and the Former Federal Republic of Yugoslavia.
FIXI Markets provides a variety of options for traders to deposit and withdraw funds, ensuring flexibility and convenience. Traders can directly deposit funds into their trading accounts using several methods, including Bank Wire, Skrill, Neteller, Safecharge, Zotapay, MasterCard, Maestro, or VISA. The time it takes for deposited funds to reflect in a client's account can vary, ranging from a few hours to up to 5 working days, depending on the deposit method selected.
For withdrawals, clients are required to submit a withdrawal request. Once approved, funds are transferred according to the client's indicated method. It's important to note that depending on the withdrawal method chosen, fees and additional transaction charges may apply. FIXI Markets supports deposits and offers account base currencies in GBP, USD, EUR, and AUD, catering to a wide range of traders' preferences.
In our comprehensive review of FIXI Markets, it was noted that as an FCA-regulated entity, the company had previously delivered a high level of secured trading services and an environment conducive to global traders employing various strategies. With a range of tools at their disposal, traders were able to enrich their trading experience. Additionally, FIXI Markets' technological solutions had provided direct market access through an advanced selection of platform choices, including industry-leading software, enabling efficient and effective trading.
However, it has been observed that FIXI Markets has transitioned to offshore registration and is no longer a regulated broker. Furthermore, FIXI Markets has ceased accepting new clients. Based on these developments, we advise against engaging with FIXI Markets and recommend conducting thorough research before considering any offerings from them. The shift from being an FCA-regulated broker to an unregulated entity raises significant concerns regarding the security and reliability of trading with FIXI Markets.
