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ADVANCED FOREX Review

 

Overall Rating

4.4/5

Rated #323 of
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

FSCA

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

ADVANCED FOREX is a Private Limited with a Shared Capital company that is located in Hillsborough in Northern Ireland. It is a bit unclear whether it was incorporated in 2009 or 2016.

Finding a reputable ADVANCED FOREX review local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth review regarding ADVANCED FOREX to help you make an informed decision before opening your account or trading on their platform.

According to research, ADVANCED FOREX is a forex broker company in Northern Ireland.

A Forex broker like ADVANCED FOREX provides traders with access to platforms that allow them to buy and sell foreign currencies and are also known as retail forex brokers or currency trading brokers. Retail currency traders in turn use these brokers to gain access to the 24-hour currency market for speculation purposes.

Forex brokers like ADVANCED FOREX can also provide services for institutional clients and large companies such as investment banks.

ADVANCED FOREX claims on its website to be one of the United Kingdom’s largest brokers. It is offering investment opportunities ranging from trading in Forex and other assets bitcoin mining and a lot more.

ADVANCED FOREX says that it specializes in trading with futures and other instruments such as Forex and offers a complete spectrum of services in various jurisdictions.

The company promises 24 hours per day support to clients, every day of the week, and in more than 20 languages, including English, French, Spanish, Italian, German, Danish, Cantonese, Russian and Turkish.

ADVANCED FOREX’s website boasts that low commissions are charged on their trading platforms so that users can make the most profit possible from trading online. There are hardly any further details about accounts or commissions available though.

ADVANCED FOREX was founded in 2009, it took the input of young and experienced traders, to develop the most advanced yet easy-to-use trading platform online. To this end, they conducted surveys asking what users would look for in online trading, and then integrated these features into their website. To serve international customers, ADVANCED FOREX offers customer service in over 20 languages, including English, French, Spanish, Italian, German, Danish, Cantonese, Russian and Turkish. An ADVANCED FOREX review reveals the site also boasts low commission on their trading platform, to allow users to make the most profit possible from trading online.

ADVANCED FOREX mentions on its website that users can trade via the Turbo Trader 2, J-Trader, X Trader, Strategy Runner, Ninja Trader, and GS Trader platforms, to allow almost unrestricted customization of user experiences.

ADVANCED FOREX provides education for prospective and current users to allow them to choose the best-suited platform for their needs and teach them to customize each one to enhance their trading experience.

For new customers that wish to open trading accounts, ADVANCED FOREX describes the procedures required to start trading, which include that they must fill out a registration form and provide proof of identity to the company, either online or by mail.

 

Awards and Recognition

In the world of forex broker companies being honored with awards from esteemed organizations or publications, count much for the company’s reputation.

Although ADVANCED FOREX is rated highly by some customers in personal reviews, there is no information available on the ADVANCED FOREX homepage about any awards received.

 

ADVANCED FOREX Accounts

A forex account is a trading account held by a trader with a company like ADVANCED FOREX, that is issued with the primary purpose of trading through its platforms. Usually, the number and type of accounts that a trader can open with a broker company differ according to the country in which the brokerage operates, the country of residence of the trader, and the regulatory authorities under whose jurisdiction it operates.

 

 

Types of Accounts and their Features

ADVANCED FOREX mentions on its website that a customer may not have more than one account per user and that multi-accounts found by its support team would be permanently frozen but gives no real indication on the homepage what type of accounts are available.

For new customers that wish to open trading accounts, ADVANCED FOREX does describe the procedures required to start trading, which include that they must fill out a registration form and provide proof of identity to the company, either online or by mail.

Upon review and approval by ADVANCED FOREX, users may fund their accounts with a minimum deposit of $250. After that being done, users may download the platforms of their choice and begin trading.

ADVANCED FOREX offers support for customers for 24 hours per day to guide and help ensure that they can trade online successfully.

 

Overall Rating

4.4/5

Rated #323 of
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

FSCA

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Deposits and Withdrawals

In the case of ADVANCED FOREX, some sources, including the company website, state that a minimum deposit of $250 is required to open an account, while in other sources it is claimed that the minimum investment must be $500. A maximum investment of $50 000 is mentioned.

Apparently, only students are also eligible for an investment plan of $500-$1 999 while other investors are entitled to a lot of other investment plans starting from $2 000.

Deposits can be made via cryptocurrencies and be added to an account as soon as the company receives three confirmations from a blockchain network. Bitcoin, Ethereum, Bitcoin Cash, Stellar, and Litecoin can be used.

Instant withdrawals of profits can be done directly into a bitcoin wallet or bank account and are supposed to be available directly after a withdrawal request had been made.

 

Cost and Fees, Commissions and Spreads

The cost of trading depends on different factors like commissions, spreads, and margins.

The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move. One pip is 0.01 for currency pairs with JPY as the term currency and 0.0001 for all other pairs.

The amount of money required in your account to open a position is called the margin and is calculated according to the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your account.

Commissions are the charges imposed by an investment broker on a trader for making trades on the trader’s behalf. The level of commissions depends on the asset being traded and the type of service offered by the broker.

Execution-only brokers, which do not involve in personal investment advice and give traders complete control over how they trade the markets, usually charge lower commissions.

While the contract for differences (CFDs) trading is a form of derivative trading that enables traders to speculate on the rising or falling prices of fast-moving global financial markets, its trading on shares will incur commission. CFD trades on other markets have no commission but do wrap a spread around the market price of a certain instrument.

ADVANCED FOREX indicates that, after the execution of their first trades, customers would be liable to pay 30% of their total profits upfront. The company further states that the annual tax fees would cost 15% per annum and would be accumulated at intervals. No more information about any costs, including spreads or commissions, deposit or withdrawal fees, or inactivity fees, is available on the website.

 

Leverage

Leveraged product trading magnifies a trader’s potential profit – but of course, also increases the potential loss. This facility that enables traders to get a larger exposure to the market than the amount they deposited to open a trade, is called leverage.

The amount of leverage is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that a trader has $1 000 in a trading account and is trading ticket sizes of 100 000 USD/JPY, that leverage will equate to 100:1.

ADVANCED FOREX does not give any indication on its website about a leverage ratio.

 

Bonuses

Forex brokers often lure new traders with offers of deposit bonuses. This can be useful, but it is essential to discern what the conditions are to really benefit from a bonus.

The bonus usually compensates traders for choosing a certain broker, since once the account is active, the trader will have the same expenses as any other. The bonus usually only starts giving some expenses back to the trader, once the person has proved himself as an active trader.

Hence, although no deposit bonuses are a great way to help you start trading, the terms to benefit from it often require trading with such a high volume before you can withdraw profits, that it may not be worthwhile.

The European Securities and Markets Authority (ESMA) has also recently placed investor protection measures on the marketing, distribution, or sale of CFDs which prevent brokers to provide the retail client with a payment, monetary or excluded non-monetary benefit about the marketing, distribution, or sale of a CFD, thus ruling out the offering of such bonuses.

ADVANCED FOREX offers no information on its website that indicates any bonuses or promotions available to first-time or regular customers.

 

Trading Platforms, Software and its Features

The forex trading software, also called the platform, provided by a broker company to its clients to carry out their trades can be a multi-asset one that allows clients to trade forex as well as other asset classes like CFDs on stocks, stock indices, precious metals, and cryptocurrencies.

Some companies provide their own proprietary platform, while others prefer well-known platforms. If there is a choice, the trader should keep in mind what he would like to trade.

ADVANCED FOREX indicates that it offers several kinds of trading platforms to customers. These include names as the Turbo Trader 2, J-Trader, X Trader, Strategy Runner, Ninja Trader, and GS Trader platforms, all of them apparently designed to allow almost unlimited customization of user experiences.

The company homepage however gives no further information regarding any features of these platforms.

 

Markets, Products, and Instruments

Most brokers offer all or some of the following market instruments for trading:

 

Forex:

Forex trading, or currency or FX trading, involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates.

 

Commodities:

As with currency exchange markets, commodity markets offer trading in contract-based tradable goods.

 

Indices:

Equity or stock indices can represent a specific set of the largest companies of a nation or they can represent a specific stock market. It is actual stock market indexes that measure the value of a specific section of a stock market.

 

Precious metals:

This involves the trading of gold, silver, and other precious metals as hard commodities that are contract-based tradable.

 

Energy:

The high volatility of energy prices due to political, environmental, and several other factors, is a typical feature of this product, making it a popular trading choice.

 

Cryptocurrencies:

Tradable cryptocurrencies include the following:

Bitcoin (BTC) is the digital currency with the largest market capitalization and price levels and dominates 50% of the total crypto market cap.

Litecoin (LTC) is similar to Bitcoin but differs in terms of scalability.

Ethereum (ETH) is the second-largest cryptocurrency after Bitcoin and allows developers to create smart contracts on a platform.

Ripple (RPL) is popular among big banks with the Ripple network a next-generation real-time gross settlement system.

Bitcoin Cash (BCH) was created as a new version of the blockchain with different rules.

ADVANCED FOREX claims to offer the following range of assets for trading: Forex, cryptocurrencies, stock, indices, and more.

 

 

Safety and Regulation

Before deciding to join a broker and start trading, a potential trader needs to establish whether a broker like ADVANCED FOREX is safe to trade with. One of the surest benchmarks to measure the safety of a brokerage is to establish which regulating authorities are watchdogs over its actions.

ADVANCED FOREX is unfortunately not officially registered or regulated by any of the financial world’s reputable authorities. There is no indication at all on its website if, where, and how it may be registered at all, with the only available legal documents that could be found, referring to some New Zealand laws.

 

Customer Support

Potential traders need to be assured that the broker company they chose can offer the necessary support and help whenever they may need it.

According to the ADVANCED FOREX homepage, its support team can be reached 24 hours per day. ADVANCED FOREX further claims that such support can be offered in more than 20 languages, which would include English, French, Spanish, Italian, German, Danish, Cantonese, Russian and Turkish.

If true, this should be good news for customers, and can they be confident to be helped to ensure their success in trading online.

 

Research

Potential traders need to do as much as possible research about speculative trading before commencing to do it and while trading. Trading successfully relies heavily on knowledge and understanding of the markets, therefore research options offered by brokers form an integral part of its features when choosing the right company to trade with.

ADVANCED FOREX offers hardly any decent research options or information on its homepage.

 

Education and Training

Before starting to trade, potential ADVANCED FOREX clients should arm themselves with all possible information and trading skills needed to be successful in the world of forex and commodity trading. If ADVANCED FOREX’s website itself does not provide enough means, a trader should explore other information sources to obtain that skills and knowledge.

ADVANCED FOREX does not offer any decent users’ education for prospective or current users. It will be extremely difficult for them to choose a platform that would best suit their needs, leave alone learning how to adapt any chosen platform in any way to improve their trading experience.

 

Conclusion

As far as research could indicate, ADVANCED FOREX is unfortunately not registered and thus authorized or overseen by any reputable financial authority. Furthermore, its company website hardly offers any information on the details of accounts, deposits, costs, even the different platforms that are available for trading.

 

Disclaimer

ADVANCED FOREX warns potential traders that Forex and CFDs trading always carries a high level of risk, therefore may not be suitable for all investors.

Before clients decide to trade the products offered by ADVANCED FOREX, they are advised to contemplate their investment objectives, financial situation, needs, and level of experience carefully before investing money that they cannot afford to lose.

Especially when traders use ADVANCED FOREX’s leveraged accounts, they should make sure to maintain a sufficient level of margin to sustain their positions, since trading Forex/CFD and Options on margin and using a higher than necessary leverage can be either beneficial or detrimental to a trader. It is always possible to sustain a loss of some or all of an initial investment.

While ADVANCED FOREX promises to make all efforts to fill a trade at the requested price, trading on-line does not necessarily reduce risks associated with currency trading, therefore quotes and trades are usually subject to the terms and conditions of a Client Agreement, which is accessible through the broker’s website.

Potential traders should first acquaint themselves with all these associated risks and seek advice from an independent financial advisor, shows research recently done.

 

ADVANCED FOREX at a Glance

Broker’s name ADVANCED FOREX
Headquarters Hillsborough, Northern Ireland
Year founded 2009/2016
Regulating authorities None
Countries not accepted for trade United States
Demo account Not indicated on the website
Islamic account (swap-free) Not indicated on the website
Institutional accounts Not indicated on the website
Managed accounts Not indicated on the website
Maximum leverage Not indicated on the website
Minimum deposit $250 or $ 500
Deposit options Bitcoin, Ethereum, Bitcoin Cash, Stellar, Litecoin.
Withdrawal options Bitcoin, Ethereum, Bitcoin Cash, Stellar, Litecoin.
Platform(s) provided Turbo Trader 2,

J-Trader,

X Trader,

Strategy Runner,

Ninja Trader

GSTrader

OS compatibility Not indicated on the website
Tradable assets Forex, Cryptocurrencies, Stock, Indices, and more.
Languages supported on the website 20 languages, including English, French, Spanish, Italian, German, Danish, Cantonese, Russian and Turkish.
Customer support languages 20 languages, including English, French, Spanish, Italian, German, Danish, Cantonese, Russian and Turkish.
Customer service hours 24/7

 

Overall Rating

4.4/5

Rated #323 of
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

FSCA

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FAQs

 

Trading Environment

 

How many instruments can I trade with ADVANCED FOREX?

You can trade several different instruments with ADVANCED FOREX, which include the following:

  • Forex,
  • Cryptocurrencies,
  • Stock
  • Indices
  • Bitcoin and a lot more.

 

Which platforms are supported by ADVANCED FOREX?

ADVANCED FOREX provides the following popular trading platforms:

  • Turbo Trader 2,
  • J-Trader,
  • X Trader,
  • Strategy Runner,
  • Ninja Trader
  • GSTrader

 

Does ADVANCED FOREX offer leverage?

ADVANCED FOREX gives no information about any leverage ratios offered.

 

What spreads can I expect with ADVANCED FOREX?

ADVANCED FOREX offers no details on its homepage, more information can be obtained from the customer support service.

 

Does ADVANCED FOREX charge commission?

More information on commissions should be obtained from the customer support service.

 

Is ADVANCED FOREX regulated?

No.

 

Is ADVANCED FOREX a recommended forex trading broker for experts and beginners?

It is unclear whether ADVANCED FOREX offers a fair trading environment for all types of traders.

 

What is the overall rating out of 10 for ADVANCED FOREX?

3/10

 

Accounts

 

What is the difference between a demo and a live trading account?

A demo account is offered by broker companies and funded with virtual money that enables a prospective customer to experiment with the company’s trading platforms and its features, before setting up a real account funded with the customer’s actual money.

 

Does ADVANCED FOREX offer a demo account?

Not indicated on the website

 

Can I convert my demo account to a live trading account with ADVANCED FOREX?

Not clear from the information on the company homepage.

 

Which live trading accounts does ADVANCED FOREX offer?

  • Not indicated on the website.

 

What are the available deposit currencies for a live trading account?

Bitcoin, Ethereum, Bitcoin Cash, Stellar, Litecoin.

 

Deposits and Withdrawals

 

What is the minimum deposit for ADVANCED FOREX?

$ 250 or $ 500.

 

How do you make a deposit and withdrawal with ADVANCED FOREX?

ADVANCED FOREX offers cryptocurrencies as deposit and withdrawal methods.

The same method as used to fund an account must usually be used to withdraw money and monies will be only refunded to accounts in the same name as the trading account.

 

Does ADVANCED FOREX charge withdrawal fees?

Not indicated on the company homepage.

 

How long does it take to make a withdrawal?

Withdrawals using certain methods may be processed within a day but depending on bank services it may take several days for the money to be available.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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