FX Arena does not charge commission fees with spreads from 0.9 pips.
There is no information regarding the account, deposit, or withdrawal fees. FX Arean also charges an inactive fee of $15 per month.
Finding a reputable list about FX Arena Fees and Spreads local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.
Below is an in-depth Fees and Spreads review regarding this regulated Forex Company, which will assist traders and allow traders to invest in their currency.
Fees and Spreads
The FX Arena spread list is as follows:
The costs of trading at FX Arena aren’t that important as they are the same for all contestants. That being said, the average spread on offer is competitive. The EUR/USD spread averages in the 0.9-1.0 pip range.
Due to the trading tournament format of the broker’s operations, trading fees such as commissions will not apply in this case.
Additional Trading Fees
It is not clear whether FX Arena charges swap fees, or overnight fees, which is an additional charge that traders should take into consideration.
A swap or rollover fee is the net interest return on a currency position held overnight by a trader. That is, when trading currencies, an investor borrows one currency to buy another. The interest paid, or earned, for holding the position overnight is called the rollover rate.
Unfortunately, the broker does not offer an Islamic Account, or swap-free account, which is a major drawback for Muslim traders, as this type of interest is prohibited by Sharia law.
Traders also need to ensure that they verify additional broker fees which may be waived by their financial institution. In addition, traders may be subjected to currency conversion fees should they transfer fees in a currency that is different from their account base currency.
FX Arena is not a spread betting broker, so that spread betting fees will not apply. To participate in FX Arena trading tournaments, traders need to buy tickets. A part of the ticket will go on to the prize pool, while the other half will go on to pay royalties.
The prize received by the winner will then be deposited into his FX Arena account, from which it could be withdrawn at any time.
The cost of participating in a trading tournament will depend on which ticket the participant chooses to buy.
Pros and Cons
|✔️ PROS||❌ CONS|
|No commissions||No information regarding deposit fees|
|Tight spreads||No information regarding other broker fees|
|No information regarding withdrawal fees|
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How many instruments can I trade with FX Arena?
While the broker states that participants can choose the type of instruments, they wish to trade in a tournament, unfortunately, no further information is provided with regards to the selection of available instruments.
As such, the instruments to trade will vary with the nature of each tournament.
Does FX Arena offer leverage?
Yes, the demo platform will offer leverage of up to 1:100. However, leverage will vary depending on the tournament, with the most recent leverage levels given at a maximum of 1:30.
What spreads can I expect with FX Arena?
The FX Arena spread list is as follows:
The costs of trading at FX Arena are not that important as they are the same for all contestants. The average spread on offer is competitive. The EUR/USD spread averages in the 0.9-1.0 pip range.
Does FX Arena charge commission?
No, due to the trading tournament format of the broker’s operations, trading fees such as commissions will not apply in this case.
Is FX Arena regulated?
No, unfortunately, FX Arena is not regulated, and therefore the security of traders’ funds cannot be guaranteed in any way.
Is FX Arena a recommended forex trading broker for experts and beginners?
No, FX Arena is suited to advanced traders who are skilled enough in trading to be able to successfully participate in a high-risk trading tournament.
What is the overall rating out of 10 for FX Arena?