Cross pairs are often overlooked because it is not as popular as major pairs. Despite the notion, they can give higher returns if used right. What are the best forex brokers to trade cross currency pairs?
Major currencies that are paired with the US dollar are called major currency pairs. These currencies are the most actively traded worldwide, hence the name "major". Some examples of major pairs are EUR/USD, AUD/USD, GBP/USD, etc. Meanwhile, cross currency pairs refer to a major currency traded in forex that does not include the US dollar. Some examples of cross pairs are EUR/GBP, GBP/JPY, etc.
Generally speaking, the majority of the forex market's most actively traded currency pairs usually include the US dollar because the currency has the greatest liquidity and makes up the majority of the volume traded in the market. But even so, that doesn't mean trading with cross currency pairs is less desirable. In fact, cross currency pairs can offer a higher chance of profitability, especially during huge fundamental events.
Why Should You Trade with Cross Currency Pairs?
Over the years, currency trading has evolved a lot. Since the end of World War II, many currencies were pegged and quoted against the US dollar because the US economy, in general, was the strongest and the currency was fixed to gold. Even after the end of the gold standard in 1971, the US dollar is still regarded as the primary reserve currency and has become the most liquid currency to this day.
Since then, those who wanted to exchange a sum of money into a different currency would have to convert it to US dollars first and then convert it into the desired currency. That is why US dollars were often referred to as the "vehicle currency" as it is used as the medium for international transactions. Not only that, most agricultural goods and vital commodities such as oil are also priced in US dollars. So in a nutshell, the US dollar plays a vital role in the financial industry.
However, although the US dollar still acts as the world base currency, the rise of forex trading has made cross currency pairs more mainstream. Instead of just focusing on the seven major dollar-based pairs, you can actually get even wider opportunities by trading with cross currency pairs. Since these currencies are not bound to US dollars, they can give you various price movement behaviors. While the majority of the market will focus on the US dollar, you can find new opportunities in these cross pairs.
What's so great about them is that it allows you to use more trading instruments. If you trade only the major pairs, it means you will only have a few different opportunities. But if you add cross trading pairs to the mix, you will be able to make even more combinations to match your trading style. Instead of just focusing on the limited number of dollar-based pairs, you can find even better opportunities if you pay attention to currency crosses. So overall, you will have wider selections of strategy and instruments to use.
One way to get profitable with cross pairs is to find the highly correlated ones. Some currency pairs might be tied together because of certain world events. For example, EUR/GBP is a great pair to trade during the ongoing Brexit saga. In 2016, the Brexit vote uplifted the pair higher by 13% over the course of 2-weeks. Such momentum can be very helpful when you trade with cross currency pairs.
The Drawbacks of Cross Currency Pairs
Despite being able to provide bigger opportunities, there are also some drawbacks that you should not underestimate. Firstly, trading with cross currency pairs can be a little more complex. If you trade with a cross pair like EUR/GBP, it means that your profit may come in the form of Euros or Pounds. In this case, if your base currency is the US dollar, then you must convert the profit to US dollars before you're able to add it to your account, which sometimes can be bad depending on the conversion rate at that moment.
Other than that, trading with cross pairs may also have higher spreads due to its liquidity. If we compare it to major pairs that have more stable liquidity, cross pairs tend to have wider and more volatile spreads. Therefore, trading with cross pairs may be costlier than trading with major pairs. This adds to the risk of trading that you must acknowledge beforehand.
Make sure to pay attention to the time zone and trading session where you place your transaction too. For example, during Asian active hours, many of the European crosses have low liquidity. As a result, in order to protect themselves, forex brokers would charge a higher spread.
Best Brokers to Trade Cross Currency Pairs
When it comes to choosing the best broker to trade cross currency pairs, you should consider some important factors such as the trading cost, safety, and more. Here is the list of brokers suitable for trading with cross pairs:
Exness is a well-known broker that was established in 2008 with headquarters in Cyprus, Seychelles, and the UK. The broker is regulated by some of the top-tier regulatory bodies such as the FCA (UK), CySEC (Cyprus), FSA (Seychelles), and FSCA (South Africa). Over the years, Exness has expanded its business and now operates across Asia, Europe, and Africa. When it comes to trading costs, Exness offers various options depending on the trading account. The standard account requires only a $1 deposit and grants maximum leverage of 1:2000. The spread can either be variable or fixed and can go as low as 0 pips.
Variable and Fixed
Islamic accounts available
The choice of broker is adjusted to the needs of each trader. If you are a trader who only needs a basic platform and trading features with the best attributes, then Exness can be your best choice .
Exness covers its lack of feature variations with other advantages like low spreads starting from only 0.1 pip. This is very suitable for traders who use scalping strategies (Scalper). Spreads on major pairs in certain account types can also be as low as 0.0 pip, depending on market conditions.
Not only that, but traders can also enjoy other advantages such as an automatic fund withdrawal system. If a trader withdraws funds through the e-Payment facility provided by Exness, the processing time is instant and goes straight into the account. This means that when traders make a withdrawal, everything happens automatically without human intervention.
The safety of traders' funds is also guaranteed as Exness is one of the European-based STP/ECN brokers. Exness's ability to become an official partner of the Real Madrid soccer team for 3 years, starting July 2017, also provides evidence that the company has high solidity.
Deposits and withdrawals may be made 24 hours a day, 7 days a week. However, it is important to note that the company shall not be liable for delays in processing deposits and withdrawals if such delays are caused by the payment system.
Traders do not need to worry about transaction fees when depositing and withdrawing. When trading on Exness, transaction fees are not charged to traders. A variety of payment methods are provided for traders, including Wire Transfer, Bank Card, Neteller, Skrill, and many others.
All information displayed on the Exness website is tested and proven. Their business is audited quarterly by Deloitte, which is an audit company for financial services.
Moreover, Exness is one of the mote transparent brokers in the online trading industry. Traders can find out all information about this company on the website, such as trading volume, number of active clients, client deposits, company funds, and many more.
The platforms provided by Exness vary in MetaTrader 4, MetaTrader 5, Web, and Mobile platforms. This makes it easy for traders when trading on Exness, as they can also access Exness platforms anywhere and anytime.
Over the years, Exness has developed into a broker that attracts traders. Trader's trust is further enhanced by its compliance with financial regulations like the FCA and CySEC.
One measure of client confidence can be put on the trading volume. By December 2018, their clients' monthly trading volume reached USD348.4 billion and active traders around the world surpassed 50,342.
Through the program offered by Exness, traders also have the opportunity to earn extra income by becoming their partners. From the Introducing Broker (IB) program, partners can earn up to 33% spread commission from every new client that registers with them.
Additional income can also be obtained from Exness Partners. Traders can get a spread commission of up to 25% per transaction made by traders who register through an affiliate link.
When trading with Exness , profit opportunities generated by traders also increase with VPS hosting services. This feature helps to maintain trading activities to progress smoothly and without interruption in the event of unexpected troubles such as lost internet connection or electricity problems that shut down traders' PCs unanticipatedly.
From the review above, it can be concluded that Exness is a favorite broker for traders because of low spreads and flexible account types. This condition is very suitable for traders with limited funds but is in need of more opportunities to get maximum profit. This broker is also well known for its maximum support on both new and existing partners.
TriumphFX is a global broker that has been around since 2009 with headquarters in Australia, Cyprus, Hong Kong, and Malaysia. The broker is regulated by the Ministry of Finance and Economic Management of Vanuatu. There are several account options that you can choose, such as standard, premium, VIP, and platinum. Apart from that, the broker also offers forex demo account that is really helpful especially for beginners. In general, TriumphFX offers maximum leverage of 1:500 and a minimum deposit of $100. The spread can go as low as 0.4 pips for cross currency pairs.
Variable and Fixed
Ministry of Finance and Economic Management (Vanuatu), 17901
Islamic accounts available
Pepperstone is a popular forex broker that was founded in 2010. The broker is headquartered in several countries, namely Australia, China, Kenya, Ukraine, and the US. Pepperstone has licenses from ASIC, Capital Markets Authority of Kenya, CySEC, DFSA, and BaFin. In recent years, Pepperstone has served more than 70,000 clients and processes an average of USD12.55 billion annually. As a result, the company has been given several awards including the Best Global Forex ECN Broker in 2019. In Pepperstone, traders can enjoy raw spreads starting from 0.0 pips on razor accounts, over 61 currency pairs, and many other interesting features.
Trading by telephone
Islamic accounts available
Pepperstone was founded in 2010 by a team of experienced traders with a shared commitment to improve the world of online trading. Based in Melbourne, Australia, they grew to become one of the largest forex brokers in the world. If traders want to find a broker that provides low spreads, fast execution, and award-winning support, then the answer is Pepperstone.
Pepperstone has a strong legality guarantee because it has been licensed by the Australian regulator ASIC and FCA. Traders' funds can be deposited in segregated accounts at top Australian banks, one of which is the National Australia Bank (NAB). Therefore, the safety of funds is not a concern if a trader chooses to open an account in Pepperstone .
They succeeded in collaborating with 23 top banks to bring Bid to investors instantly via optical fiber. This allows all orders to be executed 100 percent automatically with low latency up to 0.05 milliseconds, without dealing desk intervention and requotes, as well as with super low trading costs.
Trusted by over 73,000 traders around the world, Pepperstone processes an average of USD12.55 billion of trading volumes every day. Because of that, they have many awards such as:
- The Best Global Forex ECN Broker 2019 and Best Forex Trading Support-Europe
- Best Australian Broker and Best Trading Platform 2018 by Compareforexbrokers.com
- Best Forex ECN Broker, Best Forex Trading Support, and Best Forex Trading Conditions by UK Forex Awards 2018
With the many rewards gained, Pepperstone hopes to attract more and more traders from all over the world. The rising performance of Pepperstone is not only due to the super-tight spreads and fast execution that it provides, but also because many traders are interested in trading with deposits in currencies other than US Dollars.
For this reason, Pepperstone is one of the most market-responsive brokers because it is willing to accept deposits in 10 currencies, which include AUD, USD, EUR, CAD, GBP, CHF, JPY, NZD, SGD, and HKD.
Trading in Pepperstone would allow traders to choose between 11 trading platforms: MT4 for desktop, MT4 Mac, MT4 iPhone, MT4 Android, MT4 iPad/Tablet, MT5, WebTrader, cTrader WebTrader, cTrader cAlgo, and cTrader Mobile. The choice of trading platforms may seem confusing to novice traders, but actually, it is very useful because it has fast execution.
When trading forex, traders can enjoy raw spreads from 0.0 pips on Razor accounts, over 61 currency pairs, and commission-free account funding on a wide range of deposit options. In addition to currency pairs, Pepperstone provides many types of trading instruments, including CFDs for indices and shares, commodities, and cryptocurrencies.
Instruments in commodity trading are pretty much diversified. Not only metal, gold, and silver, but traders can also trade with soft commodities such as cotton, sugar, coffee, cocoa, and orange juice. Pepperstone also provides trading on energy (oil and gas).
There are two types of accounts provided by Pepperstone, namely Razor accounts, and Standard accounts. If you area beginner, it is recommended to choose a Standard account with an average EUR/USD spread of 1.0-1.3 pips and free commission.
Those with particular trading styles such as scalpers and algorithmic traders may enjoy the lower cost setup traditionally seen in a Razor account, with a commission from AUD7 round turn of 100k traded. The initial deposit starts at USD200 with a minimum lot of 0.01 (micro) and 1:500 leverage.
As a Pepperstone client, a trader can fund and withdraw with alternative methods including Visa, Mastercard, POLi internet banking, bank transfer, BPay, PayPal, Neteller, Skrill, and Union Pay.
If you are new to trading or looking to practice your trading strategies in a risk-free environment, you can create Demo Account in Pepperstone. But if you are an experienced trader or prefer to learn by doing, Pepperstone provides a Live Account that allows you to trade with live executions and pricing.
Traders can also follow and copy strategies from popular traders using third-party services while learning how to improve their trading abilities. Pepperstone has partnered with a range of social trading platforms that traders can choose from, such as Myfxbook, ZuluTrade, Mirror Trader, MetaTrader signals, and Duplitrade.
FXCM is one of the top brokers in the world that was established in 1999. The broker was originally headquartered in the US, but today the business has expanded a lot so now it has headquarters in Australia, Canada, Chile, France, Germany, Hong Kong, Israel, the UK, Japan, South Africa, and Italy. FXCM is regulated by several regulatory bodies such as ASIC, CONSOB, CySEC, DMCC, FCA, ISA, SFC, and ESMA. Generally, FXCM offers competitive spreads starting from 0.1 pips, low negative slippage, and fast trade execution. The company also claims that up to 89% of orders are executed at the requested price or better.
Interest rate on funds
Trading by telephone
Requires sending documents via postal mail
FXCM (Forex Capital Markets) is a brand name of a retail broker for trading on the financial market, especially the foreign exchange market. The broker was founded in 1999 and was originally headquartered in the United States. After a series of lawsuits from customers and case settlements by the US regulator (CFTC), FXCM moved from the US and became a UK-based broker, authorized and regulated by the Financial Conduct Authority (registration number 217689).
Trading with FXCM is supported by enhanced execution with the Liquidity providers' stream pricing through the FastMatch Electronic Communication Network.
FXCM works with several global banks, financial institutions, and other market makers as their Liquidity providers including Barclays Bank, Citadel Securities, Citibank, Deutsche Bank, FASTMATCH, XTX Markets Limited, UBS, Morgan Stanley, Commerzbank, and Jefferies Financial Services.
This, in turn, enables FXCM to present its clients with fast trade execution, competitive spreads, low negative slippage, no re-quotes, no stop/limit restrictions, and up to 89% of orders are executed at the requested price or better.
For the trading platform, FXCM is remarkably known for its proprietary product called Trading Station. The latest version of this platform's web display is claimed to be built in Mac Friendly HTML5. It features a range of trading appliances such as integrated news, economic calendar, FXCM's top trading tools, social trading functionalities through FXCM Cloud, customized trading analytics, automated strategies, and advanced charting for better analysis. For flexible traders who prefer trading on-the-go, FXCM has also provided Trading Station in mobile version, both for iOS and Android users.
However, the company's in-house platform is not the only option presented for clients. FXCM also gives the choice to use MetaTrader 4 for clients who are more familiar with MetaQuote's product. Also, ZuluTrade access is enabled for clients with keen interests in copy trading schemes that transcend across brokers.
Instead of classifying account types based on minimum deposits, FXCM chooses to offer trading accounts based on the instruments traded. For FX traders, this broker provides Active Trader and Institutional accounts.
Active Trader is the ultimate account type for retail traders with two-tier pricing. Tier 1 applies a minimum deposit of $25,000 with a $30 commission for 1 million volumes traded, while Tier 2 has no detail on deposit requirement but gives better fee conditions. Spreads in both tiers start from 0.2 pips.
Institutional account, also known as FXCM Pro, is marketed as a wholesale execution and liquidity solution for retail brokers, hedge funds, and emerging market banks. The account presents trading spreads from 0.1 pips and other competitive benefits like API solutions as well as prime brokerage services.
For non-FX traders, FXCM provides a CFD trading account with low spread costs from 0.37 pips (in XAU/USD) and a wide range of class assets from precious metals, soft commodities, and indices.
Last but not least, a collection of in-depth articles is provided to help traders' knowledge and insights on the forex market. Trading tools like FXCM Plus, Market Scanner, Trading Signals, and Technical Levels are also developed to support traders who open accounts in FXCM .
In conclusion, FXCM is an experienced retail broker with a lot of "ammunition" to help traders with its best version of execution, pricing, and tools. It is a well-regulated broker backed with a long history in the financial market, even though it has a dark history in the United States' brokerage industry.
Still, the relatively high standard on minimum deposit ($25,000) puts FXCM as a broker suitable for experienced traders with good money management. It is not recommended for new traders with limited capital.
5. IC Markets
IC Markets is one of the best Australian-based brokers founded in 2007. The broker has obtained licenses from several authorities including ASIC, CySEC, and Securities Commission of the Bahamas. There are several trading platforms that you can choose, namely MetaTrader 4, MetaTrader 5, and cTrader. In IC Markets, you can open an account with $200 and maximum leverage of 1:500. When it comes to trading costs, IC Markets is known to have raw spreads that enable cross currency trading with an average spread of 0.3 to 1.1 pips.
ASIC, ACN 123 289 109
Interest rate on funds
IC Markets is an online forex broker operating under the company of International Capital Markets Pty Ltd. Traders under the Australian jurisdiction are provided with the trading service of IC Markets AU that is headquartered in Australia and licensed by the Australian Securities and Investments Commission (ASIC).
On the other hand, non-Australian traders who open an account in this broker are registered under IC Markets SEY that is based in Seychelles, and regulated under the Seychelles Financial Services Authority (SFSA). The dual operation is a result of the relatively new rules from ASIC that prohibit their regulated broker to offer trading services outside Australia.
Classified as an ECN broker, IC Markets provide clients with MetaTrader 4, MetaTrader 5, cTrader as platform trading options. This broker also follows market trends to include Cryptocurrencies as one of its products, enriching its already wide selection of trading assets that include Currencies, Indices, Metals, Energies, Softs, Stocks, as well as Bonds.
The minimum deposit in IC Markets is in the middle range compared to other ASIC-regulated brokers, as it reaches $200 for every client. Market analysis materials are also prepared regularly for trading insights on IC Markets's official website , proving their competence to serve their traders with important contents created by market experts that work specifically for them.
For payment methods, IC Markets allows funding and withdrawal via wire transfer, credit card, PayPal, Skrill, Neteller, FasaPay, UnionPay, as well as Bitcoin via BitPay. The more interesting aspect from this broker is its multi-base currencies that include USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD.
As the trading technology in IC Markets is highly equipped with co-located servers and extremely low latency (especially on cTrader), the broker is widely known for its capability in hosting traders with the special needs for high-frequency trading as well as scalping.
To sum up, IC Markets is a fitting destination for active traders looking for a well-regulated broker. IC Markets is also flexible in terms of base currency and payment methods, signaling their commitment to welcome traders beyond their home country. As of late 2019, IC Markets provided their website in 18 international languages including English, Korean, Indonesian, French, Spanish, Italian, Malay, German, and Chinese.
From the explanation above we can see that trading with cross pairs can give many benefits especially when it comes to trading opportunities. If you can make use of the right moment choose the right pair to trade, there's a big chance that you're going to get a high return from it.
However, trading with cross pairs also has its own drawbacks and risks. Instead of just paying attention to US dollar-related events, now you have to keep an eye on the dynamics of other news that may influence other currencies. Not only that, the volatility of cross pairs especially the less popular ones are usually high with less liquidity, resulting in higher spreads from the broker.
All in all, trading with cross currency pairs is a great choice if you want to expand your portfolio and try something new. Although there are some risks attached, it can definitely be profitable if you use the right strategy and pick the right broker. For a better analysis of the previously mentioned brokers, here's a comparison table to compare 3 of them side by side.
rated by 570 users
rated by 5 users
rated by 15 users
|Office(s)||Cyprus, Seychelles and United Kingdom||Australia, Cyprus, Hong Kong and Malaysia||Australia, Hong Kong and Viet Nam|
|Regulation|| CySEC 178/12 |
FCA (UK), 730729
FSA (Seychelles), SD025
FSC (Mauritius), 176967
FSCA (South Africa), 51024
The Financial Commission, 22.07.2021
|Ministry of Finance and Economic Management (Vanuatu), 17901 || ASIC ACN 123 289 109 |
Securities Commission of The Bahamas, SIA-F214
|Minimum Position||0.01 lot||0.01 lot||0.01 lot|
|Payment||Bitcoin, Credit/debit cards, Neteller, Perfect Money, Skrill, Tether (USDT), WebMoney and Wire transfer||Credit/debit cards, Neteller, UnionPay and Wire transfer||Bitcoin, BPAY, Credit/debit cards, FasaPay, Neteller, PayPal, Skrill, UnionPay and Wire transfer|
|Official Website||Visit Exness||Visit TriumphFX||Visit IC Markets|
|Forex Demo Account|
|US traders are welcome|
|Requires sending documents via postal mail|
|Overnight interest rates (swaps)|
|Trading by telephone|
|Interest rate on funds|
Trading Platforms and Complements
|Trading via API|
|One-Cancels-Other (OCO) orders|
|Gold & silver|
|Website Languages||Arabic, Bengali/Bangla, Chinese, English, French, German, Hindi, Indonesian, Italian, Japanese, Korean, Portuguese, Russian, Spanish, Thai, Urdu, Vietnamese||Chinese, English||Chinese, English, Japanese, Russian|
|General Review||Read Exness Review||Read TriumphFX Review||Read IC Markets Review|
|User Reviews|| |
YuNaJul 27 2020
They keep getting better every year, so I decided to re-activate my account. The support helped me a great deal for it
Alex JoannJul 27 2020
My mentor suggested Exness when I was still new. They really help me to grow my account and never give any significant problem during my learning phase. Thanks Exness
Clara91Jul 27 2020
I only want to trade in a reliable broker, and for me, exness has what it takes to be a reliable broker
John Wallace PJul 27 2020
Used to trade in another broker and everything was difficult. I never feel similar diificulties from Exness. Keep up the good work!
nickycloudJul 27 2020
I registered based on my friend's recommendations.
So far so good. I can see why many traders favor this broker
Jenny ADJul 27 2020
Quick withdrawal and I got what I need in their trading signals. Good app for mobile phone too
Make it easier for me to trade everywhere
McPhersonJul 27 2020
Very nice broker! They have a good principle to avoid ambiguous bonus programs. Very desirable for safe trading
Harry AndrewsJul 20 2020
My withdrawal was delayed for two days even though the balance got immediately reduced. Fortunately, it didn't happen every time. The other day I requested a withdrawal and the process only took 5-10 minutes.
Chow PaxJul 20 2020
They claim to have 0 spreads, but the reality doesn't say so. I never see the 0 spreads, BTC/USD even has 400+ pips spread. I can't choose which one is more preferable so oftentimes I'm constrained to 2-3 pairs with 10-15/20 pips spread.
Win72fxJul 20 2020
I heard a lot of complaints about withdrawal, but Exness rarely has it. In my opinion, this is where a forex broker's quality is really determined. As long as the problem is kept to a minimum, it can be safely said that the broker is quite recommended. No need for A-Z promotions, withdrawal quality says it all!!
bangbang52Jul 20 2020
I always have positive experiences with Exness. There are a lot of benefits for IBs
RyanserieJul 20 2020
I have traded with this broker for several months. Though I doubted it in the beginning due to my painful experience with several other brokers when dealing with fund withdrawal, I'm amazed that Exness turns out to have auto deposit/withdrawal.
As for the payment methods, there are many choices for deposit while withdrawal method is only internet banking. So far it's not a problem for me as the process can be done in a few minutes. I'm not advertising but I truly enjoy trading with this broker.
Ok OcJul 20 2020
I used to trade in this broker because of its competitive trading conditions. I gradually left Exness because it can't keep up to offer attractive promotions.
Marais ElJul 20 2020
I recommend moderate leverage from 1:200 - to 1:500. Avoid high leverage at all costs.
Exness is a good broker as they're able to give 1:3000 leverage but always warn their clients should they want to try it.
Jonah ruleJul 20 2020
The Stop Loss didn't work. My account got MC because of it.
LeonJul 20 2020
The first time I tried to withdraw from this broker I immediately feel wronged. They said the payment process using FasaPay is instant, but it actually needed 3-5 business days. Where is the instant withdrawal that they claim to be capable of providing with? I'm beginning to doubt this broker
Bona GannJul 20 2020
Please don't complicate my withdrawal process. I have been trading with you since 2011, but lately, I'm always feel cheated as my withdrawal requests are always rejected for some abstract reasons. Here are the instances.
1. My withdrawal is usually confirmed by email but suddenly it's changed to be via phone, which makes it difficult for me during the switchover. the case was cleared but it psychologically troubled me a great deal.
2. I ordered a withdrawal via FasaPay for $350 and my balance at that time was $1044. When I choose the currency, there was a notification indicating that I my balance was not enough. I was made to totally unable of withdrawing my fund. The case was cleared but I haven't succeeded in withdrawing my fund.
3. Lastly, all of my payments are via FasaPay, but I was once denied of withdrawal process because I supposedly use BTC to deposit. Wth?? I didn't even have a BTC account.
Forex youngJul 20 2020
I've been trading only in Exness for 3 years. Other brokers are not good for a scalper like me due to the many restrictions. I can enjoy my profit in this broker and focus on trading for a living, not aiming to become a billionaire.
Exness' cons usually appear when there are news releases. It'll be very difficult to enter a trade and sometimes the MT4 can freeze. Recently there is a leverage warning every time important news are about to appear. There will be adjustment to margin requirements and the leverage can shrink to 1:200. Is it because the Exness team is also trading and they don't want to lose?
Mike FalonJul 20 2020
My friends and I have been trading with Exness (mini account, dp/wd via fasapay) with no problems and satisfying conditions. We can optimize the broker's feature to our capabilities, and that's saying something. Loss and profit come and go, even margin call is a normal occurrence. We consider them as precious experiences to rebound from.
Jarwo JKJul 20 2020
Ever since I found this broker I feel it's the best. FasaPay withdrawal is instant despite the maximum limitation for transfer amount per transaction. The support is quite responsive as well as the ib commission. Unlimited leverage is also great for snipers with small capital.
Mr ArtieJul 20 2020
I admit that Exness spreads tend to widen significantly during news releases. Slippage is also a risk but which broker doesn't have it? Aside from the disadvantages, Exness cent account is preferable.
As long as you don't trade the news, everything is good.
Agys Rb17Jul 20 2020
Average spreads in other brokers' cent account range from 1.3 to 2 pips. Exness has lower spreads that can get below 1 pip with the average spread only 1 pip.
John JuniorsJul 20 2020
I quite like this broker especially for its mini and cent accounts. When I was still a beginner I got margin call so I tried other brokers. My comparison results in all of those brokers' real accounts proved that Exness' cent account is pretty good.
Still, I can't quite choose Exness as my only one broker since there's no local bank deposit/withdrawal and fixed rate... Wish they can provide them sometimes in the future... ?
Bill NielsonJul 20 2020
Update from my previous predicament,
Exness has given back my money, and as a fair responsibility, I wrote here again about their good feedback. Imo it is the only broker willing to really compensate their client.
Bill NielsonJul 20 2020
I was disappointed after the DDoS attack incident. My account's profit went positive before it changed so suddenly that it triggered margin call. When I asked to clarify it the broker said that it could be compromised. I had sent my MetaTrader's log file and followed their instruction to wait for 3 days.
Every time I ask about my loss to this day they always ask for more time. If they can compensate for my loss I'll salute them. Otherwise, I'll spread this unfairness everywhere
Zahir SQWJul 20 2020
Traders with more than 3 years experience in this broker, please be careful especially if your account collects big profit regularly.
This broker will disconnect your account oftentimes!!!
The only solution is to have a backup for the internet connection. You need to quickly change your ISP when your account is forced to disconnect for more than 5 minutes.
I met a lot of problems like this. One example is when I got $20,xxx profit, and my account was disconnected for more than 3 hours. They sent an email to inform me that there had been a DDoS attack. I changed ISP quickly and the problem was immediately solved. At that time my profit has decreased to $3,xxx
I had tested my internet speed and there was no problem whatsoever.
I closed all my positions and withdrew all funds, never look back again.
This broker was long known to cheat traders with big profits. Some of my friends can attest to that.
Another side note:
Bonus promotion and spreads are deceiving. When the price is volatile the spreads could widen extremely.
ShaneJul 20 2020
I've been unable to connect to my real account for two days. So disappointing since Exness never gave me any trouble before. The live support ignored my complaints so I can't do anything....
Will DanielsJul 20 2020
In my opinion, Exness is quite attractive as the account types range from Cent to ECN. The leverage is also very accommodating to all types of traders.
Ronald SdJul 20 2020
This broker's not good for scalpers and news traders....
I keep getting requoted which resulted in my positions being executed in unfavorable prices....
If you like to trade the news don't choose this broker
Danny A PearsonJul 20 2020
This broker may fix some things, but what made me stop trading with them is the spread. Even the spreads in the ECN account is not favorable compared to other brokers' spreads. The service is not bad, the trading condition leaves a lot to be desired. If only Exness has zero fixed spread, I will reconsider my decision. But this broker is unfortunately not innovative enough.
Sandy MarteenJul 20 2020
I no longer trust this broker. I deposited a large sum of money but it's never credited to my account.
AstafxJul 20 2020
Never run into any problem during withdrawal, either for small or big fund, everything goes smoothly
Stephen FaradayJul 20 2020
I withdrew 5 times from Exness and all the proceedings went instantly without any trouble.
Opie BrothaJul 20 2020
From the time I learned to trade to the time I'm finally able to trade independently, withdraw my fund regularly, and gain profit consistently, I haven't met any problem. This is a recommendation from my mentor...
InesJul 20 2020
I enjoy trading in this broker. It's been 1 year
Arzd PlayrJul 20 2020
Exness is the only broker that I'm loyal to. I can use many platforms in this broker.
RomyJul 20 2020
I use two brokers and one of them is Exness. Both have pros and cons but overall, I have no doubt in their safety. I haven't managed to withdraw my fund but so far I'm quite satisfied.
Maya SantiniJul 20 2020
I didn't quite trust this broker initially, but I saw that they keep improving.
Eve PaigeJul 20 2020
This broker is not bad. I doubt it in the beginning, but the service is getting better. I've been trading in Exness for one year and feel the change. From the new regulation, support language, and the most important of all: the Analysis in my account. It's SUPERB!
I'm currently educating myself to trade with indicators. It will be better if Exness allows automatic trading.
ReynoJul 20 2020
After googling for some time I decided to pick this broker. I've been with Exness for 3 months, and so far so good. The registration process and other proceedings went smoothly. It hasn't been fully tested, but I hope everything goes well to the withdrawal process
LeeJun 21 2021
Andy Lee: Hi Andy, I'm in AMG Capital, Oilix, and EOB, and I have that information with me. However, we are not allowed to share that information in public as it was stated very clearly in the company Term and Confident.
Lucky OngJun 21 2021
Is there any charges or fee to withdraw from Tfxi balance to Binance in USDT coin? Tq.
JeffreyJun 21 2021
Andy Lee: Can you teach me how to do this? Binnance and sell via P2P. The bank methods have a poor exchange rate
Andy LeeJun 21 2021
Ling Ling Chong:
I don't have the problem you're having. When I want to withdraw, I just pull from MT4 to Traders Account. Then withdraw to either my CIMB Account or Binance (exchange for crypto coin). Transfer can take between 2 - 8 nights. Was very surprised it took you a month to get your money. Did you give your details correctly like the bank's swift code etc? I have to admit that TriumphFX customer service is almost non-existent, response to questions may take up to 3 weeks!
By the way, what PAMM are you investing in? Does it pay higher than Yuri and Nikolay every month? Which broker are you on for your PAMM?
Andy LeeJun 21 2021
Any good PAMM within TriumphFX you can recommend? I'm current invested in Yuri Rothenberg and Nikolay Divinsky which pays an average of 7.5% per month with $15k each. How are AMG Capital, Oilix, and EOB Infinity? Do they pay high profits?
Andy LeeJun 21 2021
If you make your withdrawal to your Binance account in USDT coin, you won't lose on forex. In Binance, I sold USDT via P2P whereby the buyer transferred MYR into my bank account and I released USDT coin to them. Anyway transfer from Triumph to Binance only took 3 nights.
Andy LeeJun 21 2021
Ling Ling Chong:
How do you know almost RM280 was deducted? When you are transferring back, you gotta sell USD, and our Malaysian bank has a high spread. Therefore at a much lower rate. I transferred to Binance to convert to USDT coin then sell via P2P to get back MYR. All these only took 3 nights. I don't know how come it took you one month. Was it that the details given to Triumph were not your name or wrong details?
DrFxJun 21 2021
Chong Ling Ling:
Seems like you want to promote your own trading platform might as well say it out! LOL
you contradict yourself earlier notes you said you reply but a bit slow etc.
this is what you said :
Pls, read the other reviews on TFXI. As I said I had invested in TFXI starting with GM1 since 2015. In those earlier years, the service and withdrawal were within 10-14 days. But lately has many inconsistencies and they charge high fees. My existing newly invested other PAMM FOREX does not charge any withdrawal fees and another one charges only a minimum of 2-4%. Whereas my recent YURI withdrawal was transferred via THAITANAWAT SONG PT LTD and then CREDITED into my Standard Chartered (can see the name of Transferor in the Bank Statement, ok) via a third party namely GF Multi-Store Snd Bhd
Ling Ling ChongJun 21 2021
Hi. YES, I did after ONE MONTH stress of kept chasing by text to the upline and by support tickets (no reply initially then replied 2 weeks later). I am FAIR. I give an honest review. But the amount I received was way below the exchange rate for that day ie they charge a high fee for my miserable USD 2500. Almost RM 280 deducted 😡😤!
BIG NO to TFXIJun 20 2021
Money doesn't really go to TRIUMPHFX, it's the local company to make the deposit and withdrawal, whereas you check big brokers with PAMM systems like etoro and hotforex, ic markets, they actually made it themselves. secondly, IB introducing that marketing plan, please... let me know why big brokers do market their product this way if it is legit. we have seen so much marketing plan, money game plan that "pull' people.
KLYongJun 18 2021
Ling Ling Chong:
Did you receive your money at the end? Based on the review on forexpeacearmy there was others withdrawal issue but it was resolved at the end.
Ling Ling ChongJun 16 2021
Pls, read the other reviews on TFXI. As I said I had invested in TFXI starting with GM1 since 2015. In those earlier years, the service and withdrawal were within 10-14 days. But lately has many inconsistencies and they charge high fees. My existing ( newly invested other PAMM FOREX does not charge any withdrawal fees and another one charges only a minimum of 2-4%. Whereas my recent YURI withdrawal was transferred via THAITANAWAT SONG PT LTD and then CREDITED into my Standard Chartered ( can see the name of Transferor in the Bank Statement, ok ) via a third party namely GF Multi-Store Snd Bhd
Chong Ling LingJun 16 2021
Well. I won't say TFXI is a Scam but LACK Transparency in MT4 and INCONSISTENCY. I have all proofs.
Ling Ling ChongJun 16 2021
Yes, Andy, I received my money after almost ONE month on 11th June, when my request was approved on 12th May.
You can google and see for yourself.
Simeon S.Jun 13 2021
Az: Hi to advice on WIKIFX is not a reliable platform to check on scammers as their review are biased and not accurate, many gurus & brokers have criticized WIKIFX for forcing brokers to pay membership to write about good reviews, hence this has encouraged lots of scammers & Ponzi paying WIKIFX to write fake reviews in order to get to investors vesting in them. Hence they also tag many MALAYSIANS & SINGAPORE pioneer banks & BROKERS even MALAYSIA's OWN central banks as no regulatory due to most Malaysians & SINGAPORE financial institutions/BROKER not agreed to WIKIFX terms in asking for membership fees. Link to read about WIKIFX review by unbiased sites - WikiFX Blackmails Brokers and Writes Fake Reviews (fraud-hunter.com)
Victor LeongJun 11 2021
Andy Lee: I made a withdrawal on 1st June 2021. Money credited into my bank acct on 2nd June 2021. I have been with TFXI for more than 4 years.
Alex KKJun 11 2021
I have been regularly withdrawing from TriumphFX and coincidentally, I just received a USD10,000 withdrawal to my Singapore DBS account today. Please see the attached screenshots as proof. I initiated the transfer at night on 3 June 2021 and received the funds on 11 June 2021. The remittance provider used is a company called Thaithanawat Song Pte Ltd and it is regulated under the Monetary Authority of Singapore (MAS).
Sometimes, information may be incorrectly keyed in upon withdrawal, such as the SWIFT code, currency, or other banking details, causing the funds to be rejected. I hope anyone facing problems can resolve them swiftly as I have full confidence in the TriumphFX system.
FYI, I have invested in the managed funds of Nikolay Divinsky, AMG Capital, EOB Infinity, and Oilix.
For those who reference WikiFX, please also search for Public Bank and Bursa Malaysia, which should show you that WikiFX itself is a scam!
Andy LeeJun 8 2021
Have you actually withdraw money to your bank account successfully? I'm starting to get worried after reading your comments here. What is the difference between Traders Room Balance and MT4 Live Trading Account?
Andy LeeJun 8 2021
Did you finally receive your money? I got to invest in exactly both these PAMM fund managers Yuri and Nikolay being recommended by my friend who has more than $100k invested in Yuri only. When I read your comment, I immediately copy this link to him and told him over the phone on this. He said withdrawal took 3 nights to reach his Hong Leong Bank account. And he has invested in Yuri only. The last withdrawal he was during the profit cycle in May.
AzJun 8 2021
TriumphFX is a scam a long time ago. Google it you will see so much proof from other investors and WIKIFX
AzJun 8 2021
Ling Ling Chong:
Simeon S.Jun 7 2021
Chong Ling Ling:
Ling Ling ChongMay 29 2021
I have a problem with Withdrawal with TFXI under my YURI PAMM Account No 832988 and NIKOLAY PAMM Acc 833088
I requested to withdraw on 10th May. Received an email that my USD 2564 (ie My USD 2000 plus USD 564 profits from both YURI and NIKOLAY ) was approved on MAY 12th.
BUT, up to now, I had not received any reply from my 2 SUPPORT TICKETS to the complaint and also NO MONEY transferred to my Bank Acc.
Chong Ling LingMay 29 2021
I just want to HIGHLIGHT a WARNING to everyone to please stay away from TRIUMPH FX !! I have an ACC with them since 2016 under GM Trader. To be fair, I enjoyed an average return of 3-4% per month from PAMM profit and thus had gotten back my capital and profits after 4years.
So since I have had a good experience, naturally I trusted TFXI and started to FUND in Its other platform ie USD 2000 in YURI ( PAMM 832988) and USD 1000 in NIKOLAY ( PAMM 833088 ) in Feb 2021.
My Request for Withdrawal was approved by 12th MAY ( after enjoying total profits of USD 500 from both PAMM accounts as per pictured I sent here. BUT, up to now ie after more than 14 days ( as stated by them 7 to 14 working days) I still have NOT received my money and NO REPLY to my Support tickets which I complain about and sent twice!! ;(
For the record, the same MIB ( Master Introducer Broker ) had SCAMMED our money in MSP Trader where I invested USD 2000; with the excuses that their Acc was hacked back in 2017
Chuang SeahFeb 4 2021
Are there traders that actually have experience with TriumphFX? From my trading, we are able to attach our fund according to our preference and then they will trade for us. The scheme is looks like a PAMM account. Please share more regarding this issues. Also I noticed that their withdrawal and deposit process is charge to a local company, not directly from the brokers. I just wait and see what will happen next.
Jon MatthewDec 23 2020
I don't know if you noticed that this company have been scammed many victims using different companies and different jurisdiction, especially now they are very active in Asia. Fake trades to get fake profit in order to get new investors. Doesn't it looks like a ponzi scheme? It is very dangerous even just to consider this broker. Please be aware of this broker.
ZoltanburgDec 16 2020
TriumphFX has changed my life. Despite the insecurities about my income during Covid, I manage to invest some $ and now I have trading over $30k. I don't really care if there bad reviews, but I become honest with my review here. This is my own experience with this broker.
Eowyn LinnDec 5 2020
Time you can withdraw your money doesn't mean that the broker are not a total scammers. TriumphFX is a scammer. They continue their scam activities by manipulating prices. Also poor management on investor with their MLM style of commission structure. It's a big no.
ManleeNov 19 2020
When this company will be bankrupt? This broker are scam, a total scam. From their company on Hongkong, New Zealand, Vanuatu, now Cyprus. They manipulated and scammed new traders. Stay awal from this broker.
Gabriel ShanNov 1 2020
I have problem with TriumphFX in withdrawal area. It has been more than 3 weeks they didn't process my request. The balance has been cut from my account, but I still didn't have the money in my bank account. They said that they have "have ticket volume" which I don't believe. Why is it so hard to just send the balance to my bank account? The bank obviously don't have the problem since I withdraw from another broker too.
Pamela WilliamsOct 26 2020
At first I'm mostly sceptical with this broker since I can't withdraw my earnings (trading from $300 to $11,000 manually). I've been an honest trader and I can prove it, but they still assumed and even reply to my 1st complain as abnormal transaction in trading, which is not true at all. After I complained again, they actually listen to me and resolve my withdrawal problem and process it accordingly.
Jasmine EvaOct 14 2020
I have been trading with Triumph for 1 year. It's been very smoothe since the beginning. My withdrawal process is clear and no problem at all. You should try this broker.
James MorrOct 1 2020
Made account for few months back. Everything was fine until I made withdrawal request. I got a lot of profit but they cancelled it. I got the withdrawal approval after 1 month since I requested it. Their support is questionable too.
Liam AddingtonJul 24 2020
It's been a month using ICMarket demo, and I compared it with other brokers, relatively smaller commissions and spreads. hopefully it's the same as with the Real Account ... thank U ICMarket, keep Good Service ...
Garret NgJul 24 2020
It's been 10 times to register a live account at icmarket.com but there's no confirmation via email too ... even though it's been 2 days :(
Sarah MichaelsonJul 24 2020
Recommended for those looking for ECN brokers, regulated & affordable deposits
Nadeem JulianoJul 24 2020
Just check on icmarkets.com, the commission is quite affordable, the max is 3.50 USD / lot. It's reasonable since the minimal deposit is quite high. If compared to other brokers, trading cost in icmarkets relatively cheap cz I've seen an ECN account that commissions like 20 USD / lot.
Pedro ViennaJul 24 2020
IC Markets real ECN broker. Can be checked from the quality of the regulation, also the platform can use cTrader who can access directly to the market.
JanetaJul 24 2020
IC Markets Brokers are really great, the spreads are very good ... starting from 0.0 for ECN accounts ... depo and WD smoothly ...
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