Introduction
BankersFX is an online broker that offers foreign exchange (forex) trading services. It is a brand of GAIN Capital, which is a publicly-traded company listed on the New York Stock Exchange (NYSE: GCAP). The broker offers two types of accounts: a standard account and a commission-free account. The commission-free account has a $5,000 minimum deposit and does not charge commissions on trades. The standard account charges a spread on trades and has a $50,000 minimum deposit. Both account types offer leverage of up to 50:1 and access to over 80 currency pairs. BankersFX does not charge any deposit or withdrawal fees. In this review, we will take a look at the pros and cons of BankersFX as well as traders’ ratings to see if this broker is right for you.
About BankersFX
BankersFX is a forex and CFD broker that offers trading in a wide range of assets across multiple markets. The company is headquartered in Cyprus and is regulated by the CySEC.
BankersFX offers three account types – Standard, Gold and Platinum – which offer different levels of leverage and spreads. The Standard account has a leverage of up to 1:200 and spreads from 2 pips, while the Gold account has a leverage of up to 1:400 and spreads from 1 pip. The Platinum account has a leverage of up to 1:500 and spreads from 0.8 pips.
The broker also offers a demo account with $10,000 in virtual funds, which can be used to test out the platform and practice trading before investing real money.
BankersFX charges no commission on trades, but instead makes its money through the spreads. Withdrawals are also free of charge, but there is a minimum withdrawal amount of $100.
Overall, BankersFX is a good choice for those looking for a reliable forex broker with low spreads and good leverage options.
BankersFX Pros
BankersFX Pros:
-Offers a comprehensive suite of forex trading products and services
-Has a user-friendly trading platform
-Has competitive spreads and fees
-Provides excellent customer support
BankersFX is a leading provider of online forex trading products and services. It offers a comprehensive suite of forex trading products and services, including spot FX, futures, options, and CFDs. The company’s user-friendly trading platform provides traders with fast, reliable execution and competitive spreads and fees. BankersFX also provides excellent customer support, with 24/7 live chat available in multiple languages.
BankersFX Cons
There are some cons to using BankersFX that traders should be aware of before signing up for an account. One con is that the company is not regulated by a major financial regulator like the US SEC or UK FCA. This means that there is less oversight of the company and its practices, which could lead to potential problems down the road. Additionally, BankersFX has been known to be slow in processing withdrawals and customer service can be sluggish. These are important factors to consider when choosing a forex broker.
BankersFX Traders Ratings
The BankersFX Traders Ratings is a detailed, in-depth look at the pros and cons of this online broker. Weighing the pros and cons is an important part of choosing any online broker, and the BankersFX Traders Ratings does just that.
The ratings start with the basics – the minimum deposit, account types offered, leverage, spreads and commissions. All of this information is important when considering an online broker. From there, the BankersFX Traders Ratings goes into more detail about the platform itself. This includes a discussion of the user interface, charting capabilities and mobile trading app.
After that, it’s time to talk about customer service. The BankersFX Traders Ratings looks at both the quality of customer service and how easy it is to get in touch with a representative. Finally, we wrap up with a discussion of education and research tools. This includes both web-based resources and those found within the trading platform itself.
Conclusion
We hope you enjoyed reading our BankersFX review. This broker offers a lot of great features and benefits, but there are also a few drawbacks that you should be aware of. Overall, we think this is a great choice for forex traders looking for a reliable and user-friendly platform.