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FXpremium Broker Review

FXpremium Broker Review
Borina
FXpremium broker is a relatively new broker in the industry that showed up promising great service. Among other things, this broker is promising post-trade transparency, 8 classes of assets, 24/5 crypto trading with no commissions, and regulated status (Cysec license no. 150/11). They are claiming to be fair and direct, support numerous banking methods, and... Read more
FXpremium broker is a relatively new broker in the industry that showed up promising great service. Among other things, this broker is promising post-trade transparency, 8 classes of assets, 24/5 crypto trading with no commissions, and regulated status (Cysec license no. 150/11). They are claiming to be fair and direct, support numerous banking methods, and offering 3 platforms for you to choose from. They claim to be not a broker, but a DMA agency (Direct to Market) and that they only link traders with liquidity providers. They also promise that every trader will get a post-trading execution report. Make sure to read our FXpremium broker review to find out if everything this broker promises really holds up in reality. FXpremium is owned and operated by FX PREMIUM Group Ltd.
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  1. FXpremium broker is a relatively new broker in the industry that showed up promising great service. Among other things, this broker is promising post-trade transparency, 8 classes of assets, 24/5 crypto trading with no commissions, and regulated status (Cysec license no. 150/11). They are claiming to be fair and direct, support numerous banking methods, and offering 3 platforms for you to choose from. They claim to be not a broker, but a DMA agency (Direct to Market) and that they only link traders with liquidity providers. They also promise that every trader will get a post-trading execution report.

    Make sure to read our FXpremium broker review to find out if everything this broker promises really holds up in reality.

    FXpremium is owned and operated by FX PREMIUM Group Ltd.

  2. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

    Between 74-89 % of retail investor accounts lose money when trading CFDs
    Your capital is at risk

  3. FXpremium Special features

    FXpremium offers only one account type for all traders. This might not make all traders happy, especially those that wish to get more for their money. However, there is a difference between accounts for EU and overseas citizens.

    FXpremium Group LTD Account

    • 100% margin level
    • 50% stop loss level
    • Negative balance protection
    • Trading in USD/GBP/EUR/CHF
    • Minimum deposit $500
    • Segregation of funds

    FXpremium Overseas LTD Account

    • 125% margin level
    • 100% stop loss level
    • No negative balance protection
    • Trading in USD/GBP/EUR/CHF
    • Minimum deposit $500
    • Segregation of funds

    With both accounts, leverage can go up to 1:400, although the broker states that we should take a closer look at Leverage Policy to find out more. Unfortunately, the link to the alleged Leverage Policy took as back to the top of the page.

    FXpremium Demo Account

    During this FXpremium review, we were hoping to find a FXpremium demo account. Demo account would definitely prove that this is a premium broker worth of his name, as a demo can be used for both learning, research, and testing. Unfortunately, we found no FXpremium demo account. Demo account would be a great addition to this broker’s portfolio as it would allow traders to test their trading strategies, features, and tools available. Experienced traders also prefer to have a demo account: thanks to it, they can easily learn about the interface without trading real money. Knowing your trading platform and all its possibilities make trading more straightforward. Imagine only, placing a trade on a brand new interface you know nothing about and compare it to the trading on a familiar platform. One is much easier than the other.

  4. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  5. Testimonials FairForexBrokers Your capital is at risk

    Become an IQ Option trader today

    Join IQ Option and become a trading master! IQ Option is a world-famous regulated broker that takes your trading to the next level. It allows you to trade forex, crypto, stocks, options and much more on its award-winning platform. The best part? You can start trading with a minimum deposit of ONLY $10! Read our IQ Option review.

  6. FXpremium Trading software

    FXpremium offers three different trading platforms: MT4, MT5 and Guidants. It remains unclear who can use the Guidants platform, as a broker only mentions Metatrader 4 and Metatrader 5 in account descriptions.

    FXpremium Metatrader 4 and 5 Platforms

    This platform type is probably familiar to many traders as it is popular among brokers. It offers access from the desktop (when installed on the computer), a web browser or a mobile phone. Traders get access to 8 market classes and can trade physical stocks. It has tools for technical and fundamental analysis, as well as one-click trading and SMS alerts integrated on the platform.

    FXpremium Metatrader 4 platform is very similar to MT5 platform. The main difference is that it offers 40 languages, instead of 30, and that it works on older computers as well. Both MT4 and MT4 are reputable platforms that are favorites of traders all over the world, however, they require more practice than most proprietary web-based trading platforms. We suggest that you try to find as much as you can about all tools and features available before placing a trade. Just like MT5, this platform doesn’t support social trading tools that tend to be very popular among traders.

    FXpremium Guidants Platform

    Guidants platform is available only as a web-based platform and mobile trading platform, but it is the only platform that supports social trading tools. It also allows interactive trading, but no one-click trading, chart trading, SMS alerts or EAS. Also, there are no technical indicators, and it is available only in the German language, which means that traders who don’t speak German will have a lot of issues using it.

    FXpremium Invest

    FXpremium Invest is a feature or to put it correctly, a service that allows traders to try mirror trading. Mirror trading is basically copy trading as you mirror trades and strategies delivered by other traders. You can try FXpremium invest if you follow these steps:

    • Open FXpremium Invest profile
    • Open FXpremium trading account
    • Connect your trading account with Invest profile
    • Deposit and follow strategies you prefer

    In case you are a successful trader that generates successful strategies you can make up to 20-40% annual yield, but in case you are using strategies developed by others, expect a 25% fee. This is a lot of money, especially for beginners who trade smaller volumes.

  7. If you want to trade with an award-winning licensed broker, we recommended using IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs

  8. FXpremium Support information

    When we first visited the FXpremium website, we immediately noticed there is a live chat window. We decided to test it, so we filled out our name and email address and sent a simple question. However, it turned out the agent was offline and that we will receive an answer later. This approach towards live chat makes no sense, as live chat’s main characteristic is that it is fast and convenient, and traders don’t have to wait to get an answer. This live chat feature was a bit disappointing. You can also contact the broker by using your phone (+1 518 309 8324) or send an email ([email protected]). Bear in mind how this is not a free phone, so you’ll have to pay a significant sum for this international call.

    When we did this review, we tried to find some educational materials as well. Unfortunately, there aren’t any useful articles that explain the diferent aspects of trading. The content on the website is promotional, except the FAQ and glossary section. This is something FXpremium can definitely improve.

  9. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs

  10. FXpremium Payment Methods

    FXpremium has a minimum deposit of $500, which can be considered quite high. Also, minimum withdrawal is not stated, while the minimum trade size is one lot. Banking methods available with FXpremium are:

    • bank wire
    • credit card (MasterCard and Maestro)
    • e-wallets (Skrill, GiroPay, Sofort, iDeal, Przelewy24, Trustly, Nordea, Rapid, ePay.bg, eps

    Not all e-wallets are available for all traders. The transaction fees for e-wallets are 2.9%.  There can be additional fees present for traders from your country or if you want to withdraw a feeable amount. The transaction fee for the credit card is different for each currency:

    • EUR: 1.95%
    • USD: 2.95%
    • GBP: 1.95%
    • CHF: 2.95%
    • RUB: 2.95%

    We tried to find terms and conditions document, in order to further clarify some aspects of trading with this broker, but couldn’t find it on their website. Also, the registration number provided by the broker on the website, according to CySEC records, belongs to a different company.

    FXpremium Pros and Cons

    Pros:

    • Metatrader platforms

    Cons:

    • High minimum deposit
    • No demo account
    • No T&C

  11. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

    • FREE $10,000 demo account
    • Award-winning trading platform
    • Licensed and regulated broker

    Trade with an
    award-winning broker
    like IQ Option

     

     

    Between 74-89 % of retail investor accounts lose money when trading CFDs
    12. Your capital is at risk
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