FXFair offers three types of live trading accounts: Standard, Real ECN and Prime. There is also a free demo account with leverage of up to 1:500 and no expiry date, unlike some offshore forex brokers whose demo accounts are valid for a set period of time.
The broker’s list of trading instruments includes 52 forex pairs, as well as some precious metals, i.e. gold and silver.
The Company. Security of funds.
FXFair is an offshore broker based in the Caribbean island St. Vincent and the Grenadines, which implies that investors must be extra careful, as offshore brokers generally do not comply with many, if any, rules. Regulation in the offshore zones is lax to non-existent and this often attracts dishonest companies who do as they please and scam people out of their money. Chances to recover one’s funds in case of a fraud or bankruptcy are almost none, as most offshore brokers do not contribute to any compensation schemes that offer some protection to clients’ funds.
At least FXFair says it is keeping clients’ funds in segregated accounts. The broker also informs that it does not offer its services to residents of the European countries, the United States, Cuba, Japan, Myanmar, North Korea, Sudan, and Syria.
FXFair offers trading only through the MetaTrader 4 platform (MT4), which is the most popular choice among brokers and traders. MT4 is easy to use and has a wide array of capabilities, especially for margin trading. It lets traders program own strategies and offers them a significant array of charting and technical analysis tools. Users can place market and pending orders, view their trading history and get financial news and analysis straight in their terminal. MT4 also provides real-time push prices, price alerts and automated trading systems (expert advisors) from third parties.
Methods of payment
Like most offshore forex brokers FXFair accepts deposits via wire transfer, debit and credit cards and the electronic payment systems Skrill and FasaPay. It, however, does not accept payments through probably the most popular electronic payment service PayPal.
FXFair is just another run-of-the-mill offshore forex broker with average trading conditions that does not stand out in any way. Furthermore, it is not regulated. Most certainly there are other forex brokers offering at least similar conditions, but as a plus, they are properly regulated and the likelihood of fraud is much lower.
FXFair Review Conclusion
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