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FXBrew Review

 

 

 

 

 

Overall Rating

4.9/5

Rated #4403 of
Recommended FX Brokers

💰Minimum Deposit

USD 5

🌐 Regulators

FCA

📱 Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

📈 Total Pairs

10

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FXBrew is an online Forex CFD broker that believes in simplicity of design, transparency of operations, and versatility of trading options whilst providing traders access to trade forex, indices, commodities, and cryptocurrencies through the MetaTrader4 and MetaTrader5 platforms.

Finding a reputable FXBrew 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 of FXBrew to help you make an informed decision before opening your account or trading on their platform.

According to research recently done, FXBrew is an established forex broker company in Ireland.

The broker offers a choice of three live trading account and also provides MAM/PAMM services.

FXBrew was founded in 2016 and headquarters in Victoria, Mahe, Seychelles, and Dublin, Ireland. Nothing further is available on the history of this broker.

 

Awards and Recognition

In the world of forex broker companies, it counts much for the company’s reputation if it has been honored with awards from esteemed organizations or publications.

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

 

FXBrew Accounts

A forex account is a trading account held by a trader with a company like FXBrew, that is issued with the primary purpose of trading through its platforms.

The number and type of accounts that a trader can open with a broker company usually 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

FXBrew offers traders the option to start trading through a demo account. This account normally has a balance of around $ 100 000 virtual money that sport real-time prices and trading conditions.

These demo accounts are free to open and can be used by traders for a period of 30 days.

The following live account types can be opened with FXBrew:

  • ECN Account
  • VIP Account
  • Micro Account

 

The ECN account gives users access to some of the lowest spreads available, starting from 0 pips, with an extremely small commission rate. It also allows users to trade on institutional-grade liquidity from the world’s leading banks, market makers, and dark pool venues.

The VIP spreads also start from 0 pips and place traders amongst the top-tier global investors and traders. It gives you access to a range of premium features, trading options, and invitations to exclusive events and social gatherings. It also provides a personal account manager.

The Micro account is ideal for novice traders who would like to start off with a simple account with smaller volumes of trading options. It allows traders to open an account with a lower initial deposit. Spreads start from 0.02 pips.

The process to open an account can be started from links on the company homepage. Traders complete the same registration form to open a demo or live account. Simply complete the registration form with your personal details, email address and create a password.

Submit and as soon as you receive a confirmation email you can open your account of choice, fund it and start trading.

Deposits into a trading account can be made in the following currencies: USD, EUR, GBP, BTC, and by means of several methods.

 

Overall Rating

4.9/5

Rated #4403 of
Recommended FX Brokers

💰Minimum Deposit

USD 5

🌐 Regulators

FCA

📱 Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

📈 Total Pairs

10

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Deposits and Withdrawals

FXBrew requires the following minimum account opening balances:

  • ECN Account – minimum deposit of $ 100
  • VIP Account – minimum deposit of $ 5 000
  • Micro Account – minimum deposit of $ 5

 

FXBrew only allows the following payment methods to fund accounts or make withdrawals:

 

The broker does not charge for deposits or withdrawal of funds. Funds are transferred within 24 – 48 hours into the trader account. The withdrawal is subject to the same payment gateway as that of the deposit.

 

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 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, it’s 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.

Spreads on the ECN and VIP accounts start from 0 pips and on the Micro account from 0.02 pips. Commission on all three accounts is charged at $2/100K.

 

Leverage

FXBrew allows a maximum leverage ratio of 1:500.

The amount of leverage is expressed as a ratio, for instance, 50:1, 200:1, or 500:1. Assuming that a trader has $1 000 in a trading account and is trading ticket sizes of 200 000 USD/JPY, that leverage will equate to 200:1.

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

 

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 in relation to the marketing, distribution or sale of a CFD, thus ruling out the offering of such bonuses.

FXBrew offers a 100% deposit bonus that is only valid on a new account. To claim your bonus, traders need to open a live account and make a deposit of $ 100. The bonus is credited instantly after request and is immediately tradable.

Once the volume requirements are met, the bonus amount is fully withdrawable.

 

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.

FXBrew offers traders the choice between the two most popular trading platforms, namely MetaTrader4 and MetaTrader5.

MT4 is an award-winning platform and is widely used around the globe because of its simple interface, security, customization ability, reliability, and feature-rich environment, helping the trader to improve its trading performance. It fulfills the needs of both novice and professional traders.

MT4 is equipped with features like market and pending orders, instant execution, trading from a chart, stop orders, and trailing stops. Traders can also access the MetaTrader4 MultiTerminal to simultaneously manage several accounts all at once.

MetaTrader5 is the revised version of MT4 and is seen as a professional-grade platform. The up-gradation in the MetaTrader5 lies in the inconvenience to access multiple features all in one platform. Access to multiple time frames, built-in technical indicators, and customized EA’s are all within your reach.

With FXBrew MT5, you can customize the EA’s to suit your trading style and manage your exposure with ease, and trade automatically using trading robots and trading signals.

The MT4 and MT5 platforms are available on desktops, windows, web, Android, iOS devices.

In addition, FXBrew also offers MAM/PAMM servers. This will allow traders to set up their funds and expand fund assets by handling the back office and other processes seamlessly with the broker’s advanced platform.

A MAM/PAMM account allows Money Managers to easily execute trades from a master account to a sub-account from an integrated portal with full flexibility in manual lot size and percentile methods.

It is available for clients who want to be part of a group of separate accounts which are then traded by a single money manager.

Furthermore, FXBrew offers Virtual Private Server (VPS). It allows forex traders to trade 24/5 nonstop without any fear of latency. You do not have to worry about your EA losing connection with the server as VPS allows you to trade uninterrupted.

This service is completely free for clients who have a minimum deposit of $ 5 000 or equivalent amount in their trading account.

These trading platforms are normally offered in several languages which include English, French, German, Spanish, Dutch, Portuguese, Arabic, Farsi, Chinese, Japanese, Turkish, Greek, and Russian. With FXBrew it is only available in English.

 

Markets, Products, and Instruments

FXBrew offers trading in forex, commodities, indices, and cryptocurrencies.

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.

 

 

Safety and Regulation

Before deciding to join a broker and start trading, a potential trader needs to establish whether a broker like FXBrew 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.

FXBrew headquarters in the Seychelles which is an offshore judicial area. ON the broker’s website, it states that it is registered with the Financial Services Authority (FSA) of St Vincent and the Grenadines.

The broker is dedicated to providing security and safety of the client’s fund.  Client funds are housed in segregated accounts across the top global banks and as such ensure the highest level of security for funds.

 

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.

The FXBrew customer support team can be reached in real-time by email or the completion of a return call option from the website. It does not offer a live chat option or a telephone number for direct support.

FXBrew states on the website that it provides dedicated multi-lingual customer support 24/5. It does, however, nowhere state which languages it supports.

 

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.

FXBrew does not offer much support in the form of research tools. The only tools found on the website are an Economic Calendar and a Forex Calculator.

The Economic calendar keeps traders updated on all the important upcoming economic events. FXBrew helps you plan your trading schedule by watching over the complete economic data in the calendar taken from the most reliable sources in the financial industry.

The real-time Economic Calendar covers economic events and indicators from all over the world, automatically updated when new data is released.

The Forex Calculator is an All-In-One CFD Calculator for all your trading information. The calculator allows traders to make a range of important calculations to facilitate and enhance their trading experience.

It uses the latest rates and can carry out calculations in a wide range of currency pairs from across the globe. Additionally, the calculator can also be used to calculate margins and profits.

 

Education and Training

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

FXBrew does not offer any educational tools to assist novice or advanced traders with forex trading. There are no videos, webinars, glossary, eBooks, or FAQ sections found on the broker’s website.

 

Conclusion

FXBrew is an offshore broker offering several account types with a leverage of up to 1: 500 and trading through the renowned MetaTrader4 and MetaTrader5 platforms. It is regulated through FCA and keeps client funds in segregated accounts. The only negative is the lack of proper research and educational tools.

 

Disclaimer

The FXBrew website is not intended to provide legal, tax, or investment advice. You are solely responsible for determining whether any investment, investment strategy, or related transaction is appropriate for you based on your personal investment objectives, financial circumstances, and risk tolerance.

While FXBrew has made every effort to ensure the accuracy of the information on this website, the information and content on the website are subject to change without notice and are provided for the sole purpose of assisting traders to make independent investment decisions.

All content on the FXBrew Sites is presented only as of the date published or indicated and may be superseded by subsequent market events or for other reasons. In addition, you are responsible for setting the cache settings on your browser to ensure you are receiving the most recent data.

While FXBrew promises to make all efforts to fill a trade at the requested price, trading online 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.

 

FXBrew at a Glance

Broker’s name FXBrew
Headquarters Victoria, Mahe, Seychelles, and Dublin, Ireland
Year founded 2016
Regulating authorities FCA
Countries not accepted for trade Not indicated
Demo account Yes
Islamic account (swap-free) No
Institutional accounts No
Managed accounts Yes
Maximum leverage 1: 500
Minimum deposit $ 5
Deposit options Bank Wire Transfer and Bitcoin
Withdrawal options Bank Wire Transfer and Bitcoin
Platform(s) provided Metatrader4 and MetaTrader5
OS compatibility Microsoft Windows, Android, iPhone, iPad, Web, Desktop
Tradable assets Forex, commodities, indices, and cryptocurrencies
Customer support languages English
Customer service hours 24/5

 

Overall Rating

4.9/5

Rated #4403 of
Recommended FX Brokers

💰Minimum Deposit

USD 5

🌐 Regulators

FCA

📱 Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

📈 Total Pairs

10

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FAQ’s

 

Trading Environment

 

How many instruments can I trade with FXBrew?

FXBrew offer trading in forex, commodities, indices, and cryptocurrencies

 

Which platforms are supported by FXBrew?

  • MetaTrader4
  • MetaTradaer5

 

Does FXBrew offer leverage?

Yes, FXBrew offers maximum leverage of 1: 500

 

What spreads can I expect with FXBrew?

FXBrew offer raw spread starting at 0 pips on the ECN and VIP accounts

 

Does FXBrew charge commission?

Yes, charges commission of $ 2 per standard lot

 

Is FXBrew regulated?

Yes, FXBrew is regulated by the FCA

 

Is FXBrew a recommended forex trading broker for experts and beginners?

Yes, FXBrew offers a trading environment for both beginner and advanced traders.

 

What is the overall rating out of 10 for FXBrew?

5/10

 

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 FXBrew offer a demo account?

Yes

 

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

There is no indication on the broker’s website whether the demo account can be converted into a live account

 

Which live trading accounts does FXBrew offer?

  • ECN account
  • VIP Account
  • Micro Account

 

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

USD, EUR, GBP, and BTC

 

Deposits and Withdrawals

 

What is the minimum deposit for FXBrew?

$ 5

 

How do you make a deposit and withdrawal with FXBrew?

FXBrew offers the following deposit methods:

  • Bank wire transfer
  • Bitcoin

 

The same method that was used to fund an account must usually be used to withdraw money again and monies will only be refunded to accounts that carry the same name as the trading account with FXBrew

 

Does FXBrew charge withdrawal fees?

No, but fees from financial institutions may apply

 

How long does it take to make a withdrawal?

Funds are transferred within 24 – 48 hours into the trader account. Traders should note however that depending on a specific bank service it may take several days for the money to be available in a client account.

 

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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