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FTMO Review – My Experience, Pros, Cons


There are now over 30 forex prop firmsOpens in a new tab.

At the forefront of this industry is FTMOOpens in a new tab.

In such a fast paced industry with only a few years of operating, it can be hard to figure out which prop firms are the real deal and which companies are worth staying away from.

Over the last 2 years, I have been personally using FTMO, testing their challenges, funded accounts and everything you might need to know about the platform.

So, is FTMO legit?

Let’s find out…

Who Are FTMO?


FTMO are a prop trading firm based out of Czech Republic, mainly based in the Forex trading sector. In short, they provide up to $200,000 of trading capital to traders that can pass a fairly simple challenge.

The challenge is to prove you are a consistently profitable trader and if you are, in return, you are given capital, of which you keep up to 90% of the profits and FTMO keep 10%. The company essentially looks for profitable traders that just need funding and then gives them the tools and money they need. 

They’re no doubt the largest prop fund in our Top Prop Firms ListOpens in a new tab.


In premise, this sounds like an absolutely amazing idea. You’re trading someone else’s capital and keeping 90% of the profits made with absolutely no risk to yourself or your capital. Is it really as good as it sounds? 

The FTMO Challenge


This is what you’re here for – the famous challenge. This is all that stands between you and a $200,000 funded trading account. So how does the challenge actually work and what’s the point? 


The challenge is essentially a 2 step process to evaluate your trading ability. The first stage is the challenge, then the second stage is verification, to prove that the first time wasn’t just a stroke of luck. 


The challenge and verification is taken on a demo account, the details of which will be emailed to you after purchasing a challenge from FTMO. You will be able to see your account statistics in your client portal and be able to track every aspect of the challenge until you ultimately pass or fail. 


You may be wondering why they have a challenge? And why you have to pay for it? Well, frankly you have to pay for it because if people got an unlimited amount of trials, eventually they would win a $200,000 trading account even if they previously failed 100 times, just from pure luck.

The challenge is to prove they are giving $200,000 capital to a profitable trader, instead of wasting it on a trader that is just going to hit the maximum $20,000 drawdown in the first day and waste the companies money. 

What Are The Rules Of The FTMO Challenge?

Choosing Your FTMO Challenge


When you sign up to FTMO and think about starting your challenge, you need to think of a few different options as it’s not just a default challenge. 

The New FTMO Challenge For Swing Traders

FTMO has answered all of swing traders prayers in the new update. There is now a new FTMO Swing challenge where you are allowed to hold traders overnight and over the weekend without asking for permission, which used to be the meta.

The leverage is reduced down to 1:30, which is still absolutely plenty for swing traders. Previously all swing traders had to work with 5%ersOpens in a new tab.

The Profit Split – 90% To You, 10% To FTMO

FTMO has been known for having a 70% profit split since the birth of the online prop firm industry. Other competitors in the industryOpens in a new tab.

They are also now offering a capital scaling program, meaning you can increase the balance of your funded account by 25% once the criteria has been met.

This is by far the largest profit split in the industry and I’m very happy to see FTMO continually going above and beyond and smashing the boundaries they have set in this space.

Is The FTMO Challenge Realistic?


You may be wondering, is it actually possible to pass these challenges to get funded. Then even if you manage to get funded, is it possible to stay funded? The answer is, frankly, it’s very much possible but it can be very hard for 95% of traders. 


Most traders fundamentally lack emotional strength and discipline, along with a solid risk to reward and risk management plan. For this reason, the majority of forex traders are going to fail over the long term, sadly.

However, if you are consistently profitable trading your small account – there is absolutely no reason that the FTMO challengeOpens in a new tab.


In fact I would actually argue that FTMO can make you a better forex trader, as you are forced to abide by the rules of the account like drawdown etc, which force you to only take high quality trades. 


The ONLY real downside of the strict rules is that you aren’t able to hold traders over the market weekend close, unless you use the new swing trader challenge. During the standard challenge, you are allowed to hold trades over the weekend market close with absolutely no problem at all.

Once you are funded, by Wednesday night you must write to FTMO asking for permission to hold over the weekend, so they are able to assess the risk and any hedges needed.

To prove how realistic the rules and funding options offered actually are, a trader has just received a $70,000 payout from the company – this is by far the largest I’ve ever seen!

The Free FTMO Challenge


Thinking of trying you luck in the FTMO Challenge? Well, if you are on the fence, they now offer a
FREE challengeOpens in a new tab.

The point of this is to perfect your trading and make sure you’re actually able to pass the challenge, before paying for the real thing. If you fail this challenge, you don’t lose anything. If you pass this challenge, you sadly don’t get any funding as it’s only the free challenge but it sets you up with the confidence to take the real thing.


To sign up to the free challenge click here!Opens in a new tab.


Whenever I have finished backtesting a new forex trading strategy I actually take a free FTMO challenge, to test the strategy. If I fail the challenge because of the drawdown or violating the maximum loss restrictions, I know I’m not ready to pay for the real $100,000 account.

To get involved, all you need to do is sign up, create an account on the website and await your email to come through! When you get sent through the account details, log in to your new MT4 account and get trading. With every trade taken, you’ll see your trading account results in your client portal in the Metrix.


If nothing else, the free challenge is a great fun way to test yourself and have real in-depth statistics about your trading!

FTMO’s Reputation & Reviews


The issue with prop firms are the fact that there have been a lot of scams over the years. Firms promising to give you a £500,000 account if you pass a challenge that costs £1000. The rules are extremely tight, you never pass that challenge and this is how the company makes all of its money.

For this reason it’s crucial to look at the reputation and reviews within the trading community so you can make a decision as to whether you think the funding company is worth the risk.

TrustpilotOpens in a new tab.4.8/5
ForexPeaceArmyOpens in a new tab.4.55/5
Forex FactoryOpens in a new tab.

What does FTMO’s reputation online look like? Frankly, amazing. On TrustpilotOpens in a new tab.

Take a look through the reviews and you’ll see that the large majority of traders are absolutely thrilled with the company, they’re getting funded, getting paid and better off than they were without FTMO! Many traders have actually taken multiple $200,000 challenges and built up very large portfolios with the company over the last few months. 


Alongside the usual trading review websites there is a huge amount of content about this prop firm on YouTube. Many well known forex traders like 
Hannah ForexOpens in a new tab.

It’s really nice to see a lot of traders getting paid on social media and being able to earn a full time wage from their part time hobby of forex trading. In this video Hannah shows her first withdrawal ever from FTMO, definitely give it a watch if you’re skeptical! 

The New FTMO Leaderboard

FTMO has a new ‘Leaderboard’ feature, which is relatively uninteresting for most traders but it does make for a very interested feature in my opinion. You’re able to see the equity and profit amounts from traders all around the world, separated in different regions.

I think this feature is amazing for newer traders seeking funding, to inspire them to keep plugging away at the forex industry as it really showcases the amazing profits that are actually obtainable.

This feature is now being replicated by any other forex prop firms within the industry, like The Funded TraderOpens in a new tab.

Payment Proof – My Withdrawals From FTMO

When choosing a prop firm, it’s important to trade with a company that is proven to be paying traders. I have had multiple payouts from FTMO and the process has always been extremely simple and quick compared to some other firms on our top prop firms listOpens in a new tab.

In my experience, payouts are always processed same day and the support team were there to assist me with any questions I had during the withdrawal process.

To date, I have had 5 withdrawals from FTMO, all of which came with no hassle. Payouts were processed extremely fast and the finance team even reached out to me, to offer any assistance if needed!

Custom Withdrawals

FTMO are a bit of a thought leader in this space. Whereas most prop firms allow a withdrawal at the end of the month, providing the threshold has been met, FTMO are now offering payments on demand.

You are able to setup exactly when you want to get paid every month! This isn’t going to make a huge difference to a lot of traders but it’s just proof of the company, once again, going above and beyond to provide a real partnership with traders, rather than just a prop firm.

The New FTMO Capital Scaling Plan

In recent months, the scaling plan offered by industry leading prop firms has been becoming more of a talking point. With companies like BluFxOpens in a new tab.

FTMO has released a new capital scaling program offering growth of 25% every 4 months. In order to be eligible for the capital scaling, traders must reach 10% profit in 4 consecutive months. There has to be profit made monthly on your side, which may look like 2% on month 1, 3% on month 2, 4% on month 3 and 1% on month 4.

It’s important to note that the account balance must also be above the original starting balance in order to request capital scaling. With this incentive, every 16 months (depending on how you compound your profits), your trading account will double in size! This is capped at a maximum of $2,000,000 per trader.

This scaling plan is so effective because FTMO use demo accounts and a proprietary algorithm to manage risk and place trades in the live markets, meaning you won’t actually be exposed to the live markets on your trading accounts!

This makes absolutely no difference on our side, as the traders, but allows FTMO to trust traders with larger amounts of capital.

If we compare this to the other forex prop firmsOpens in a new tab.

What Support Does FTMO Offer To Traders?


Since you are actually using FTMO as your trading account, if you get funded of course, you want to know that you are able to get in touch with them whenever you need. Luckily FTMO has loads of potential ways to get in touch. I have personally used this prop firm and used multiple of the support options during this time.

If you are based in Prague, they also have an office address and welcome traders to setup an appointment and go down to meet in person. It’s really great to see such transparency from a prop firm! The company also has 24/7 live chat support on the website, that I have found extremely useful over the last few months. It’s also worth noting that this support is offered in 13 languages.


I actually had a free second attempt at one of my challenges as I nearly hit the profit target but was just slightly short on the last day. I contacted the live chat and the email support team and within less than 2 hours they had reset my account, sent me over some new MT4 details and I was back trading the challenge again!

If you look through all of the various forum and Youtube videos about FTMO you’ll see that this wasn’t just my experience, the support team is really good! 

Education & Tools


FTMOOpens in a new tab.

Tools For Traders


More importantly than the education, FTMO offers a range of complex tools that have helped my trading tremendously. These tools are all accessible in the client portal of the website once you have started a paid challenge and they are all free to use! These include…

  • Metrix – This looks at every trade taken, drawdown, profit, loss, times of trades, pairs and compiles all of the stats. Much like MyFxbook but, well, good. 
  • Statistical App – This app looks at the probabilities of different scenarios happening on different pairs, to help you build out a profitable trading edge.
  • Account Analysis – Much like the Metric app, but in a lot more detail! This can definitely help you understand your trading, behaviours and level up your profitability in the markets. 
  • Trading Journal – This is as it sounds, a trading journal where you can upload images to the trades you’ve taken. This really helps understand the setups, refine your edge and bring you closer to that $100,000 funded trading account. 
  • Mentor App – This app works on MT4 and MT5 and forces you to follow your trading plan and rule set, with a clever EA on the screen. It’s not the most useful tool for disciplined or professional traders but for your new traders just starting out, this is a really great idea! 
  • Equity Simulator – Much like it sounds, this lets you test different win rates and risk to reward averages to find out how equities on your accounts would grow and be effected. Definitely a really useful tool to have at your disposal. 

Education


Strictly speaking FTMO don’t offer their own education, but they do offer discounts and partnerships on some of the most popular forex education in the industry. These include…

I cannot personally vouch for any of these mentors as I’m not familiar with over half of them. None the less, feel free to check them out if you’re signed up with FTMO for one of the challenges as they can offer you quite a nice sized discount! Click here to see all of the educators they are partnered with. 

Frequently Asked Questions

Does FTMO Allow EA’s?

FTMO does allow traders to use EA’s and bots in their trading. For the majority of retail trading EA’s, you’ll be perfectly fine. If you’re looking at using a high frequency trading bot, you may struggle due to liquidity issues and latency.

Does FTMO Allow Hedging?

FTMO does allow traders to hedge their trades.

Can You Lose Money On FTMO?

You cannot lose money on FTMO, in theory. You can only lose your initial fee that goes into paying for your FTMO challenge account. Once you have spent that money, you will not be able to lose any ‘real’ money. You’ll be trading FTMO’s capital at the point of being funded.

How Long Does An FTMO Withdrawal Take?

I have taken many withdrawals from FTMO and they’re usually processed and paid within 4 business days. This may vary depending on your withdrawal method and country but the payment processing team have always been very fast.

What Happens If You Fail The FTMO Challenge?

If you fail the FTMO challenge, you can purchase another challenge! You will lose your initial refundable fee when you fail the challenge. However, you are not limited to a certain amount of challenges and you can purchase as many as you like. If you don’t violate any of the criteria/rules and finish in profit (just not enough profit), you will receive another challenge for free!

Is FTMO Regulated?

Technically FTMO is not regulated by any governing body like the FCA as they are not a broker and do not operate in that vertical.

Is FTMO A Broker?

No, FTMO is not a forex broker.

Does FTMO Accept Crypto Withdrawals?

Yes, FTMO does accept crypto withdrawals from Confirmo.

How Owns FTMO? The Man Behind The Brand

The founder of FTMO, Otakar Suffner is very transparent in his role in the business. Throughout the huge growth FTMO has seen in the 2 years, Otakar has appeared in various interviews that can be found on YouTube.

This is really important to see and I’m personally a huge fan of the transparency that Otakar brings to the industry. As the original prop trading firm, I think it’s massively important for the company to pave the way for FTMO traders and other companies alike so we can see the industry is moving in the right direction.

With the lack of regulation within the industry, due to the fact we are all early adopters, I think it’s crucial for FTMO to show this transparency with the goal being a clean, regulated industry. FTMO are really the taste makers, in this sense.

What do I mean by this?

Well, let’s take the profit split and the profit target… Let’s even look at the minimum trading days and maximum trading period too… Otakar has set the standard here and it’s clear to see the this is being replicated across 90% of the other proprietary trading firms within the industry.

Conclusion – Is FTMO a scam?


In summary, if you’re looking for the opportunity for the legitimate and reputable company to give you $200,000 to trade with, FTMO is the company for you. They have an amazing reputation within the industry for actually paying out and honouring their word, alongside great customer support and functionality. 


This isn’t some miracle way to get rich though – the FTMO challenge is no joke and it certainly is hard to pass and hard to maintain once funded. If you’re a serious trader, give it a go now! If you’re new to forex and not yet consistent, I would recommend taking one of the free trials to gage your ability and start working towards your $200,000 account. 


If you have any experience with FTMO please do let me know in the comments below, I’d love to hear about it! 

BlackBull Markets In-depth Review – Are They A Scam?


Are you interested in learning more about BlackBull Markets? With so many Forex Brokers online these days, it’s very important to know exactly where you’re putting your money and it can be hard to distinguish a scam broker from a reputable company. We have extensively tested BlackBull Markets, the account processes, trading conditions, deposit/withdrawal methods and taken a deep dive into all of the information about the company. Is this the broker for you? Let’s find out now…

They are regulated in New Zealand, where they are headquartered.
The minimum deposit is $200 to start trading.
They have a huge amount of different deposit and withdrawal options, the main ones include Paypal, wire transfer, debit/credit card, Skrill and Neteller.
The maximum leverage offered is 1:500.
The platforms offered are MT4 and MT5.
Standard ECN - Spreads of roughly 0.8 pips on most pairs, with $0 commission. ECN Prime - Spreads at 0.0 pips starting, with $6 commission per lot traded.
They are highly regarded within the industry, with a flawless reputation.

Who Are BlackBull Markets?


Blackbull Markets was founded in 2014, in Auckland, New Zealand, by professionals within the Forex and Fin-tech sectors. They were already heavily involved in the Forex space for a decade before, serving institutional clients, rather than retail. Blackbull Markets is registered at Level 22, 120 Albert Street, Auckland, New Zealand and has a company registration number of NZBN 94290441417799.


They offer a huge amount of tools for experienced retail traders, with a complete ECN (No dealing desk) experience, combined with a huge depth of liquidity for even the largest of retail traders. Blackbull Markets have data centres, server hubs and offices all around the world, as the company has grown rapidly within the retail sector. In fact, they have been listed on Deloitte Fast 50 Index!


From first glance, they are a very reputable broker in the industry with expert trading conditions for all types of retail forex traders – but let’s dive into more detail.

Trading Conditions


BlackBull Markets is based out of New Zealand, luckily for us. This means they are able to offer 1:500 leverage for the majority of countries, including countries in Europe. You can customise the leverage on your MT4 accounts depending on your needs and risk tolerance, anywhere from 1:1 to 1:500, although I think at default the accounts are set at 1:100 – more than enough for most traders.

Forex Pairs64+
Leveraged Offered1:500
Execution SpeedInstant
MetalsYes
SpreadsFrom 0.1 Pips On ECN Prime and 0.8 Pips On Standard
Commissions$6 Per Lot On Prime, $0 On Standard


They offer pretty much every pair you will need as a retail forex trader, including majors, minors, index, commodities, energy and metals. There are brokers out there in the markets offering more products and pairs to trade, but for the majority of retail traders the products on offer are more than enough to sink your teeth into.


Spreads are very important when it comes to forex trading, especially for intra-day traders and scalpers – much less so for swing traders as they are taking moves for thousands of pips. With BlackBull Markets, there are a few different account types and these all come with a varying spread. On the most common ‘ECN Standard’ account, you have spreads ranging from 0.8 pips, with $0 commission per trade! This is very similar to the likes of IC Markets are other True ECN Brokers in the market. With the ‘ECN Prime’ account, you have access to spreads from 0.1 pips and a commission of $6 per lot.


In short, the trading conditions with this broker are absolutely perfect for all retail traders. I have personally found the trading conditions very favourable for my day trading styles and swing trading. You will be hard pushed to find any better spreads and commission structure per trade out there in the market from any trusted forex broker.


Like most brokers, they offer a free demo trading account for beginner traders, or experienced retail traders looking to test the trading environment before committing to the broker. If you are considering using BlackBull, I would highly recommend creating yourself a demo account to check the execution speed, spreads and overall conditions that you have access to. Conditions do change from a demo to a live account though, so take that with a pinch of salt.

Account Types


This broker offers 3 different account types, all suiting different types of traders. This ranges from an account that is perfect for newer traders, with competitive spreads and a low minimum deposit, to an account with Institutional level services and functionality that comes with a high minimum deposit threshold. All of these accounts have leverage up to 1:500, more than enough for scalpers, day traders and swing traders alike! Let’s have a look at the account types…


In short, I would highly recommend the ECN Standard and ECN Prime accounts for the majority of traders. If you are professional, coming in with a fairly large deposit, the ECN Prime most certainly has the best trading conditions and fees. However, if you are coming into the markets with a few hundreds dollars, the ECN Standard account will be more than enough to get you started and give you all of the advantages of an ECN experience.

Are BlackBull Markets Regulated?


The most important question to ask when looking for a forex trading broker is, are they regulated? Unregulated brokers can manipulate prices, spreads and steal your money. The sad thing is there are so many out there, fooling unsuspecting traders every day. So, is this broker actually regulated? The answer is yes!


BlackBull are a registered Financial Services Provider in New Zealand (where they are headquartered), with the FSP number 403326 as well as being a member of the Financial Dispute Resolution Act FSCL. BlackBull Group UK is a registered company with the companies number of 9556804.

RegulationFSPR
RiskLow risk


In short, Blackbull markets are a fully trusted and regulated forex trading broker, providing great conditions and segregated client funds, meaning your capital is safe. They are a NDD ECN broker, meaning they pass your trades straight through to the liquidity providers – not influencing the prices or creating a fake market.


It is important to constantly check the regulation of your forex brokers every few months to make sure nothing changes and they are not put on any risk lists by regulators. I will keep this article updated regarding this brokers regulation as I actively trade with this broker, so I’m always on the look out for any signs of regulatory concern.

Trading Platforms


BlackBull Markets offers the MT4 trading platform, sometimes known as MetaTrader 4. MT4 is without a doubt the most common retail forex trading platform, being used by millions of traders and hundreds of brokers around the world. Although MT4 is certainly not the most advanced platform on the market, is it perfect for basic technical analysis and order execution, making it the peoples choice. They also now offer MT5 – a more updated and professional version of MT5.


You can download BlackBulls own MT4 platform from the client area once your account is setup – from there you login using your MT4 details and you will instantly be able to start placing trades. The platform can be downloaded on Mac, Windows, Android and iOS, catering to everyone. When trading, I always have the MT4 platform installed on my laptop/computer, for actually executing orders, whilst having the MT4 app on my mobile phone as well, for monitoring trades whilst I’m on the go.


MT4 & MT5 have some really great features: 

  • Simple order execution 
  • Account statistics/analysis 
  • Charts for price action 
  • Variety of free tools and indicators 
  • Multiple time frames
  • Great data feeds
  • Supports EA’s / VPS trading 

Although MT4 and MT5 are the most popular platforms for retail forex traders, there are much better platforms out there like cTraderOpens in a new tab.

Setting Up An Account


Setting up an account with BlackBull Markets is an extremely easy process. In fact, I managed to set up my account within just a few minutes. The process is very much similar to every other forex broker out there, not requiring much from you besides a few simple documents. For my account to be processed and opened, I just had to fill in:

  • Basic information about myself
  • Provide a drivers license scanned photo
  • Provide a recent statement/document proving address 

Once you have uploaded those documents, you receive an email saying your account will be opened and verified soon. For me, after uploading the documents, I had a verified BlackBull Markets account with login details within just a few hours, making it one of the quickest brokers I have ever signed up with.


Should you have any issues whilst completing the sign up process, contact the 24/5 live support via the website and they will be able to help you with every step along the way but I would doubt that will be necessary.

Account Dashboard


Once your login details are sent through to your registered email address, you will be able to login to the back area of BlackBull markets. Some brokers have very overwhelming and complicated back ends, where it’s virtually impossible to workout how to do what you want to do on the account. With that being said, this broker is the complete opposite! The back end is so clean, simple and easy to navigate. You have access to everything you would need as a retail trader.


You can: 

  • See trade history 
  • Update/change personal information
  • Open new MT4 accounts
  • Change passwords
  • Deposit/transfer/withdraw funds
  • Manage MAM/Investor accounts
  • Download MT4 
  • Access educational material 

If you have any issues figuring your way around the client area, the 24/5 chat support is always on hand to assist you, or contact your personal account manager if the issue persists.

Deposits/Withdrawals


BlackBull Markets offers a fairly standard range of deposit and withdrawal options – The methods as of the time of writing are:

MethodFees
PayPal$0
Bank Transfer$20
Skrill$5
Neteller$5

I tested the PayPal deposit method, very impressive. The deposit went through within less than 5 minutes, with absolutely no hassle or fees. I tested a second deposit on the weekend to see if the deposits were being manually verified, however the deposit went straight through on the weekend too within less than 5 minutes, which is great! The International Bank Transfers do take between 12 and 72 hours, which still is very competitive to other brokers as this is generally how long international transfers take to complete.


BlackBull Markets do charge a small fee on deposits, on all methods besides PayPal. Bank Transfers have a 20 base account currency fee, and Skill/Neteller both have a 5 base account currency fee. The large majority of Forex brokers do charge a small withdrawal fee and the fees charged by BlackBull are very competitive.

Support For Clients


There are a number of easy ways to get in contact with the broker, not that I have had a need to yet. When you sign up to BlackBull Markets they assign you your own account manager, who emails you right away with all of their contact information from their Skype username to their mobile number.


Should you not want to go directly to your account manager, there is a 24/5 live chat which is extremely responsive, as well as multiple phone numbers and a support email address you can contact.

Compared to a lot of the top end brokers out there in the last few years, the support offered at this broker is absolutely brilliant. This won’t apply to international clients, however if you are based in NZ they do publish their address on the website, so you could even potentially make your way to the office for an in person conversation with your account manager.

Conclusion


In summary, BlackBull Markets is a safe broker and a great one at that. They offer amazing ECN conditions, great execution, a range of perks, very cheap trading costs and have an amazing reputable within the industry. I’ve used so many various brokers over the last 5 years, searching for perfect, and now some of my capital is with BlackBull because of it’s truly unbeatable conditions and safety.


If you are thinking of signing up, I highly recommend it! If you are on the fence, they offer a free demo account to test the MT4 trading platform and conditions of the account, so please do feel free to sign up and try it for yourself.



If you have any questions about this broker, please do feel free to contact me and I will do my very best to answer anything you may want to know! 

Blueberry Markets Review – Is It A Good Broker?


Are you thinking about trading with Blueberry Markets? There are hundreds of forex brokers online and a huge amount of scams so it can be really hard to know who you can trust. Luckily, we have extensively researched and tested Blueberry Markets, everything from the trading platforms, to the account types and regulation. We have taken a really deep dive into all of the relevant information so you can make a decision whether this broker is for you or not. Let’s find out…

They are regulated by ASIC and VFSC, making them a very low risk trading broker.
The minimum deposit is $100 to start trading.
They have a huge amount of different deposit and withdrawal options, the main ones include wire transfer, debit/credit card, Skrill and Neteller.
The maximum leverage offered is 1:500.
The platforms offered are MT4 and MT5.
Standard account - Spreads of roughly 1 pip on most pairs, with $0 commission. Professional account - Spreads at 0.0 pips starting, with $7 commission per lot traded.
They have an amazing reputation within the industry for being one of the best forex trading brokers.

Who Are Blueberry Markets


Blueberry Markets are an Australian based forex broker founded in 2015, offering over 50 forex pairs on MT4 & MT5, with ECN conditions. They offer professional trading conditions, paired with up to 1:500 leverage on trading accounts. Alongside their great trading conditions and tight spreads, Blueberry markets has a perfect reputation in the online trading community whilst being fully regulated by ASIC and abiding by their client fund segregation rules.


Blueberry Markets is actually the trading name of Eightcap Pty Ltd, ABN 73 139 495 944. Eightcap is regulated by ASIC, AFSL number 391441. Over the last few years there have been some amazing brokers coming out of Australia, all offering great 1:500 leverage, unlike European brokers. From the first glance, this is a perfect forex trading broker for those looking to have a safe and professional trading experience, but let’s dive into more detail…

Trading Conditions


Luckily for us, Blueberry Markets is based out of, and regulated in Australia. For this reason they are able to offer 1:500 leverage to clients, which is a HUGE bonus as this allows traders to grow accounts at a nice pace. If you are worried about having high leverage, you are able to reduce it right down to 1:1 in your client portal, so there is no risk of losing a large percentage of your account in just one trade.

Forex Pairs50+
Leverage Offered1:500
MetalsYes
IndiciesYes
SpreadsLess Than 1 Pips On Most Pairs, From 0.0 Pips On Professional Account
Commissions Per Trade$0 On Standard Account, $7 Per Lot On Professional Account
Execution SpeedsLightning


Like the majority of forex brokers online these days, you will have access to over 54 trading pairs. This includes majors, minors, index, commodities and energies – more than enough! If you want to trade specific markets I would advise creating a free demo account now to test the spread and conditions on that pair, but if you are just trading standard forex pairs then the conditions at Blueberry are more than good enough!


Spreads and costs are extremely important for traders, especially scalpers, as this type of trading nets just a small amount of pips per trade. Even swing traders really need to ensure they have a competitively priced forex broker. Now with this broker, the standard account has a $0 commission per trade and a variable spread of roughly 1 pip per trade. This is fairly competitive in terms of fees, not the cheapest in the market but far from being expensive! The professional account has a spread from 0.0 pips and a commission of $7 per 1 lot traded, which is extremely cheap!


In summary, the trading conditions offered by Blueberry markets are second to none. I find the conditions absolutely perfect for day trading forex instruments and even longer term moves. The professional account is one of the cheapest in the market! Even if you can find slightly cheaper fees in the markets, having the security of a trusted forex broker regulated by the ASIC is definitely worth that extra $1 fee per lot traded!

Account Types


This broker offers 2 live trading accounts, alongside a free demo account. These accounts are perfect for a range of different traders from scalpers to swing traders. This is split up into a Standard Account and a Professional Account. Both of these account types come with 1:500 leverage, very tight spreads, low commissions and over 54 tradeable instruments on MT4 and MT5! Let’s have a look at these accounts in more detail…

In summary, I would highly recommend the Standard account for the majority of forex traders. You can come into the markets with a very low deposit of just $100, have high leverage and still have very tight spreads without paying any commission. If you are a professional trader coming in with a big account size, or even a scalper, I would recommend the Professional Account, as having 0.0 pips spreads and just paying commission can definitely come in handy! I use the Standard account and have absolutely no issues at all!


As most forex brokers do, they offer a demo/practice account for new traders to get a feel for the markets. You can sign up for a demo account here. If you are new to forex I would definitely recommend giving the demo account a go whilst perfecting your analysis, or even just to test the conditions at Blueberry markets if you are an experienced trader. 

Are Blueberry Markets Regulated


When you are choosing a forex broker to trust your money with, it’s extremely important to understand how that broker is regulated. If a broker is completely unregulated, you leave yourself exposed to spreads being manipulated, deposits going missing, withdrawal issues and all types of problems that result in your losing your capital. So it’s really important we look into Blueberry markets regulation and governing bodies.

RegulationASIC, VFSC
RiskLow Risk


Blueberry markets are 100% owned, managed and regulated in Australia, as you can see here.  In adherence to the regulations within Australia, all client funds are held in a separate account at the bank of Australia (NAB). Also, withdrawals are processed the same or the next working day, with an easy withdrawal option in your client portal. In short, they are regulated by ASIC and keep clients funds segregated meaning your capital is safe with this broker. 


ASIC is one of the best governing bodies when it comes to regulating forex trading brokers, so it’s great to see that Blueberry markets are regulated by this entity. If anything changes, I will make sure to update this article with the latest regulatory news. Due to abiding by the AML/CTF regulations, this broker cannot accept clients from certain countries like the USA. If you are in doubt, I would recommend looking here for the countries that they are able to accept clients from – it’s most countries! 


Blueberry markets also have an entity in Vanuatu, which is regulated by VFSC. This also abides by the client capital segregation rules and has the exact same processes, fees and support structure as the main Australian arm.

Trading Platforms


This broker offers a great selection of trading platforms for retail traders, very similar to most brokers in the markets right now. These include:

  • MT4 (For desktop and mobile)
  • MT5 (For desktop, mobile and web)

MT4 or MetaTrader4 is the most common retail forex trader platform and it has been the favourite for many years now, so it’s great to see that this is something they offer alongside the updated version, MT5. Truth be told, my favourite forex trading platform is cTraderOpens in a new tab.


MT4 has some really great features for retail forex traders: 

MT4MT5
For Retail TradersFor Retail & Professional Traders
Popular But Basic FunctionalityMuch More In-Depth Functionality & Tools
Free To UseFree To Use

I would highly recommend downloading the MT4 platform onto a laptop or computer to do your actual on chart analysis, as it can be really hard to see the detail on a mobile device. I usually execute trades on the MT4 computer platform, then monitor that position on the MT4 mobile app whilst I’m out on the go – it’s a great combination. 


MT5 is much more advanced than MT4 in terms of the tools, order execution and the options offered. I would definitely recommend at least testing out MT5 before committing to only using MT4, as at some point MT4 will be discontinued and the majority of forex brokers will stop offering that platform and push traders onto the newer platforms like MT5 and cTrader.

Setting Up An Account


Setting up a forex trading account should be a relatively painless process, especially with most brokers offering 24/7 support. Blueberry markets is no exception – it’s extremely quick and simple to get started with your trading account. They offer two different types of trading accounts, with the standard account requiring just a $100 deposit.


The process is extremely fast and much like any other forex broker – you enter your details, submit 2 documents, wait for the confirmation email and you have yourself an account! No phone calls or anything like that. Sign up for an account now!  If you have any issues with the documentation or any of the basic information you are required to provide, the support team are always there to help via live chat. 


As far as setting up accounts go, it really couldn’t be easier to get going!

Deposits & Withdrawals


Blueberry markets offers the standard deposit and withdrawal methods you would expect to find at any forex trading broker, with both normal and electronic methods. At the time of writing this, the methods are:

MethodFees
Bank TransfersPossible Depending On Your Bank
Credit Cards$0
Debit Cards$0
Skrill3-4%
Neteller$0

Deposits are withdrawals are processed extremely fast! There’s nothing worse than a broker taking a big percentage of your withdrawal as a beginner trader, so it’s nice that there is either a small or no fee here. With that being said, if you are using an international bank transfer, it’s more than possible that your own bank will take a fee for processing the withdrawal. If they happen to, that fee is of course passed on to yourself so do bare that in mind.


Through my research I haven’t managed to find anyone having a long term withdrawal issue from the broker, as they are very on top of processing the withdrawals. Should I start noticing any withdrawal issues I’ll be sure to update this review, but for the mean time Blueberry markets are staying true to their brilliant reputation within this retail space!

Support For Clients


There are a number of really easy ways to get in touch with Blueberry markets, which is a very good sign from a broker. There’s nothing worse than having a problem with your deposit or withdrawal and not being able to contact any support team, or waiting a week for a reply. With this broker, you really are spoilt for choice!


On the website there is a 24/7 live customer service chat feature, where you can get in contact with the support team at any hour of the day. There is also a contact form on this page, that will get you in contact with one of the support team very quickly as well. Blueberry markets also have a customer support phone line, an email address and even an office in Australia you are able to go to, should you be in the area. Although for me here in the U.K, the live chat is more than helpful enough! 

  • Phone – +61280397480 (AU)
  • Email – support@blueberrymarkets.com

They offer a free demo account for you to test the trading conditions before you sign up and commit to the broker, but I would highly recommend reaching out to the customer support team and asking any questions you may have.


It’s worth stating that they do not offer any support in the way of education/resources for clients, which can put some people off. Personally this doesn’t bother me at all as there are thousands of really good trading educational resources online for free these days, like Babypips for instance or 5 minute forex on YouTube. 

Reputation


The odd positive or negative review online shouldn’t be held in too high regard as they can be faked or made by third parties that gain from talking down to other brokers. With that in mind, the reviews Blueberry markets have should most definitely be taken into account. They have a huge amount of extremely positive reviews online, across all of the forex trading forums. This includes 4.6/5 on Forex Peace ArmyOpens in a new tab.


WebsiteRating
ForexPeaceArmyOpens in a new tab.4.6/5
TrustpilotOpens in a new tab.4.9/5


I will of course update this if anything changes in the future, but in summary, as of the time of writing – Blueberry markets have potentially the BEST reputation of any forex trading broker online.

Partnership With FTMO


If you are a budding forex trader, I’m sure you would have heard of FTMO. If not, FTMO are a prop funding service that funds retail traders up to $100,000 (if you can prove profitability). FTMO is a very reputable company that has been around for many years now, I have even used them myself and have nothing but kind words to say about the company. If you want to know more about FTMO and getting yourself a $100,000 forex trading account,
click here!Opens in a new tab.


FTMO partners with a very select few forex brokers – this includes Blueberry markets. This is a huge confluence & good sign for the brokerage, as an institution like FTMO wouldn’t be partnering with any shady brokers, or those with bad reputations. The partnership between the two companies started back in 2018 and has been running smoothly ever since!

Conclusion


In conclusion, Blueberry Markets is a great forex trading broker! They offer amazing 1:500 leverage, with great trade execution, deep liquidity, a variety of trading platforms and over 54 pairs. Alongside that, they are fully regulated by the ASIC and have a perfect reputation within the industry. You only need to head to forums to see hundreds of great reviews from traders all around the world, all depositing, trading and withdrawing with this broker! I really have used a lot of brokers over the last few years and I’m glad FTMO introduced me to this one, because it’s without a doubt one of the best brokers I have ever used. 


If you have any questions about this broker before signing up, please do leave a comment or get in contact and I will aim to answer any questions you may have for me! 

IC Markets Review – Pros, Cons, My Experience


Are you interested in learning more about IC Markets and what they offer traders? There are hundreds of brokers these days and this makes it so hard to figure out which brokers are legit and reputable and which could potentially be a scam. I’ve been using IC Markets for over 5 years now and have tested every single part of the retail trading experience from execution speeds to withdrawals and customer support. Is this the broker for you? Let’s have a read…

This broker is highly regulated by CySEC, ASIC and FSA, making them a low risk broker.
The minimum deposit is $200.
There are 15 different methods in 10 base currencies. All of the online payment methods with debit/credit card, wire transfer, broker to broker, PayPal and many more!
The maximum leverage offered is 1:500.
IC offers MT4, MT5 and cTrader. MT4/MT5 are very basic and great for retail traders, cTrader is more geared towards professional traders.
The variable spreads are some of the lowest in the industry with Majors starting at 0.0 pip spreads. The commission is $6-$7 per lot traded, depending on which account you have.
IC Markets have a great reputation in the industry, with thousands of traders across the world using this as their primary broker and leaving glowing reviews.

Who Are IC Markets?

IC Markets was founded in 2007, in Australia. They are one of the largest and longest standing True ECN Brokers in the industry and still going strong well over a decade later. IC Markets is headquartered in Sydney, with a company registration number of ACN 123 289 109

They offer a legitimate True ECN experience for forex traders, with absolutely no requotes leading to the tightest spreads, cheapest trading fees, the deepest liquidity and fastest execution in the industry.

This combined with their high leverage and focus on client safety of funds has lead the company to expand massively within the retail space over the last few years – it’s hard to find someone who hasn’t heard of this broker! 


At a glance they have the best trading conditions and a flawless reputation for retail traders, but let’s have a look in more detail shall we?

Trading Conditions

Depending on which branch of IC Markets you use, you’ll have access to either 1:30 maximum leverage or 1:500. If you’re using IC in Seychelles then you’ll have the luxury of that 1:500, which can always be customised and even lowered in the client portal, if you head over to accounts summary. 

Forex Pairs55
Crypto?Yes
StocksYes
Leverage On Forex1:500 Max
Spreads0.2 Pips Avg On Majors
Commissions$6-$7 Per Lot Traded
Leverage On Crypto CFDs1:5

They offer over 64 pairs on all of the accounts, which include majors, minors, commodities, index and even energy and crypto! This is more than enough for the majority of traders, especially forex based traders. If you want to trade a very strange and specific product then I would advise contacting their helpful 24/7 support team for more assistance. Spreads and trading costs is very important to bare in mind when looking for a new broker.

Some brokers look absolutely perfect until you start taking a look into their fees and you realise it’s way too expensive! Luckily, IC Markets remains the cheapest broker in the market right now, thanks to their True ECN model. If you go with the standard account, you’ll be paying $0 commission per lot traded but a spread of around 1 pip per trade on most pairs. However, if you choose a raw spread or cTrader account then you’ll be paying $6-$7 per lot traded in commission but have access to spreads from just 0.0 pips. Most of the time on the major pairs, it won’t even tick above 0.4 pips spread! 


The execution speeds are also the fastest I have ever seen in the industry due to the no requotes and state of the art data centres in New York & London. In summary, IC Markets has unrivalled trading conditions in the industry. I’ve been using this broker for 5 years now and I have never been disappointed once by the speed of execution, costs and spreads I’m paying. Not once have I ever been manipulated by an increasing spread and stopped out of a trade prematurely – which says enough in it self! 

Account Types

This broker offers 3 different accounts, alongside a free demo account for beginners. These accounts are actually suited to a range of different traders, whether you scalp or hold longer term trades, even EA trades! There is a cTrader account which can only be used on that platform, alongside a Standard MetaTrader account and a Raw Spread account. All 3 of these accounts have a minimum deposit of $200, with very low costs (whether paid through spread or commission), up to 1:500 leverage and over 64 tradable products


I have personally used the cTrader accounts, the standard account and the raw spread account. My favourite is definitely the cTrader account purely because I love the cTrader platform itself. The account though is identical to the raw spread account in terms of execution and costs. I would highly recommend the raw spread account to all traders, especially those that are trading on lower time frames, so would benefit from a low spread and small commission trading structure. 


If you’re a beginner and have not found consistency within the markets just yet, I would advise creating a free demo account to test your strategies in the markets. You can add a balance to the demo account in your client portal back end, and top it up whenever is needed! 

Are IC Markets Regulated?

It’s not great to be trading with an unregulated broker as they can manipulate prices, scam you and even not pay out your hard earned withdrawals. So, is this broker regulated? The answer is IC Markets are regulated by various governing bodies to provide financial services. Let’s look into this in more detail because the regulation behind this broker is a bit complicated. 

IC Markets was and still is regulated by ASIC, AFSL Number 335692. This is a major governing regulator in Australia and the fact they are regulated by ASIC means we know that client funds are safe and fund segregation is happening, so we can’t get scammed! All transactions are handled by the Bank of Australia and they use various external auditors throughout the process of running the broker. 

RegulationASIC, CYSEC, Financial Services Authority of Seychelles
RiskLow Risk

However, in 2018, ESMA decided the clamp down on leverage in Europe and make it a maximum of 1:30 for all traders, unless they can prove to be a professional trader. This is a big problem for scalpers and traders that like to risk more than 1% per trade, as they rely heavily on the brokers leverage to do this. If you sign up to IC Markets Australia, as a European trader, you’ll now have a maximum of 1:30 leverage. Unless… You use the offshore broker…

Knowing the ESMA changes were happening, IC Markets created a whole new branch of the business based in the Seychelles. Based offshore they don’t have any need to comply with the tight 1:30 leverage cap for traders, meaning they are still able to offer 1:500 to traders even based in Europe! The Seychelles side of the business, Raw Trading Ltd, has a company number of 8419879-2 and are regulated by the Financial Services Authority of Seychelles. 


IC Markets EU is also regulated by CySec with a license number of 362/18. 


In summary, each division of IC Markets is regulated by a different entity, including CySec, ASIC and the Financial Services Authority of Seychelles. They have moved into the Seychelles due to ESMA regulations and doing this means that this broker can still offer great 1:500 leverage for clients, whilst still being regulated! It’s a very safe broker to be using and clients funds are at no risk here, regardless of whether you’re trading with the Australian entity or Seychelles. Click here to find out more about their regulation. Opens in a new tab.

Trading Platforms

When it comes to trading platforms, this broker has an amazing selection. The platforms offered by IC Markets are: 

MT4MT5cTrader
For Retail TradersFor Retail Or Professional TradersFor Professional Traders
Very Basic ToolsFairly Basic ToolsAdvanced Tools
Good For EA’sGood For EA’sGreat For EA’s/Algos
Free To UseFree To UseFree To Use

In my opinion you definitely don’t need more platforms than this. MT4 is the most common retail trading forex platform, used by millions of traders across the world. It’s fairly limited in what you’re able to do with it but for the majority of retail traders just starting in the industry, the charts and order execution options are more than competent. MT5 is a much better version of MT4 with all of the bugs fixed, new features added, better DOM, execution and more charting options – great for traders looking to take their trading a bit more seriously. Then we have cTrader, my all time favourite platform! cTrader is perfect for professional traders, fund managers and algo traders, with a huge amount of order execution options, great depth of liquidity, a huge amount of chart options and a great degree of customisation. 


For most traders I would advise an MT5 setup, with the app on your mobile and installed on your computer too. It’s fairly hard to trade just on your phone as the small screen can limit your ability to analyse the market properly so having it running on the computer for analysis is a great idea. I personally run cTrader on my PC to actually execute orders on, then keep a check on running positions using the mobile app. 

Account Dashboard

Once you have login details for IC Markets, you’ll have access to your secure client portal. A lot of brokers have very complex back ends for clients and some even have extremely basic ones that are fairly useless, but I think IC have got the perfect balance. The account dashboard is clean, easy to use, quick to load and makes it easy to access anything you might need to as a forex trader. You can: 

If you have any issues figuring your way around the client area, the 24/7 chat support is always on hand to assist you, or contact the phone support if you would rather speak to a support agent on the phone. 

Sign Up Process


Brokers want you to get started trading so they tend to make the set up process fairly easy and simple. IC Markets is no exception to this, you can complete the whole sign up process in less than 10 minutes. Here is all you need to do to sign up…

  1. Choose your account type (Standard MetaTrader, Raw Spread MetaTrader or Raw Spread cTrader)
  2. Submit the relevant personal information that is required by the broker (Address, name, basic details) 
  3. Submit the relevant documents needed to prove your identity (Brokers are required to get these for AML purposes)
  4. Wait for the email confirmation saying your account is verified! 

Whilst waiting for verification to begin trading you can log into your client dashboard and have a look around, you just won’t be able to deposit and trade yet. It should take less than 24 hours to get verified as long as your documents are correct however, so don’t worry about missing too many trades! 


If you have any issues during this account set up process, the 24/7 live chat support are on hand to help you in any way needed. 

Deposits & Withdrawals


IC Markets offers a big range of 15 deposit and withdrawal methods in 10 different currencies, most of which you would expect from a trading broker in this day and age, both electronic and standard payment methods. The most popular payment methods are: 

MethodFees
Credit Card$0
Debit Card$0
PayPal$0
Neteller$0
Skrill$0
UnionPay$0
Wire TransferFees Subject To Bank
Broker To Broker Transfer$0

I have tested many of these methods over the years, with PayPal definitely being my favourite for smaller deposits and withdrawals, then wire transfers for anything larger. The transfers are processed extremely fast with deposits being instant with the online processors and withdrawals being handled within 48 hours! I have had countless withdrawals from IC over the years and they have never taken more than 48 hours to release the funds to me, which is great to see. 


There are no fees on the online payment processors, both on the deposit and withdrawal side of things. If you are taking a wire transfer then any fees incurred will be passed onto you from the bank, so do bare that in mind. For this reason it’s not worth using the wire transfer option unless you are trading a fairly large account – if you’re coming into the markets with just a $200 deposit then I would advise using one of the options like PayPal, that do not take any fees! 


On the forums I haven’t managed to find anyone having long term withdrawal issues from this broker but I will of course update this article should that start occurring! 

Client Support

When you are trusting your money with a forex trading broker, especially one based pretty far away, you want to have the peace of mind of knowing you’ll be able to get in touch with them whenever you have any issues or queries. Luckily, IC Markets has a huge amount of different client support options, so you never have to be worried about not getting in touch with them. I have personally been in contact with IC Markets support probably over 50 times over the last 5 years. 

  • Email: enquiries@icmarkets.com 
  • Phone: +61 (0)2 8014 4280

If you have other issues regarding accounts, marketing or affiliate issues there are dedicated email addresses for these departments that you can find on the contact page. Should you need help more urgently, they also offer a 24/7 live chat support feature meaning you can get in touch with IC Markets whenever you want, around the clock.

I’ve used all of the support features multiple times and I would definitely say that the email function is the most useful. The live chat function will normally just put your request through to the right person, unless it’s a fairly easy request that can be fixed by the agent. 


Should you actually want to visit their offices in person, on the contact us page they have their office location listed so if you happen to be in the Seychelles you can go and pay them a visit. Although this is highly unlikely, it’s nice to see a broker with transparency of address unlike a lot of the more shady unregulated forex brokers that only have a P.O box as their registered address. 

Reputation & Reviews

Looking at reviews of a forex trading broker is extremely important, both from reviewers and traders all across the world. There are a few major forums like ForexPeaceArmy where you can see what thousands of traders are saying, with their pros, cons and experiences of IC Markets. IC Markets have been in the business for a very long time so they have a huge amount of reviews to look through, luckily for us! IC Markets have an excellent reputation online for being a great and honest forex trading broker. On TrustpilotOpens in a new tab.

On FPA, IC Markets have over 1200 more reviews from clients across the globe, with an overwhelming positive response. 

WebsiteRating
ForexPeaceArmyOpens in a new tab.3.5/5
TrustPilotOpens in a new tab.4.7/5

I actually first started trading with this broker nearly 5 years ago now purely because of it’s great reputation within the online communities, well, that and the 1:500 leverage! All these years on and they have never messed me around on a withdrawal and the perfect reputation they once had, still stands strong! If anything changes, I’ll be sure to update this article but as of the time of writing this, they are one of the best forex trading brokers online. 

Conclusion

In summary, IC Markets are a low risk forex trading broker. They have unbeatable conditions for traders, amazing 1:500 leverage, the cheapest pricing, fastest execution and a whole range of trading products fit for any retail or professional trader.

If you have any questions about this broker before signing up, please do get in touch with me and I’ll strive to help you out.

HugosWay Review 2021 – The Best Offshore Forex Broker?


Are you considering trading forex with Hugosway? With so many brokers popping up online these days it can sometimes be very tricky knowing who is trustworthy and honest. Luckily, over the last year I have tested Hugosway live, doing extensive research, taking trades, utilising the deposit and withdrawal methods and everything else you might want to know. Let’s have a deep look into this broker…

HugosWay are based offshore in St Vincent & Grenadines and completely unregulated by any financial authority, making them high risk.
The minimum deposit amount is $10.
Bank Transfer, Bitcoin, vLoad and Credit/Debit.
The maximum leverage offered is 1:500.
The only platform offered is MetaTrader4.
The spreads are variable, at around the industry average - but slightly higher than most ECN/STP brokers. Commissions are $7 per lot traded.
HugosWay don't have a great reputation within the industry, as most offshore brokers don't. Traders complain about spread manipulation and funds going missing.

Who Are Hugosway?

Hugosway are an ECN/STP forex trading broker founded in 2018, based in St Vincent & The Grenadines. They offer 55 forex pairs and 31 crypto pairs on MT4, with 1:500 leverage and very fast execution. Alongside the great trading conditions and huge leverage, they also have a good reputation in the online trading community as being one of the only offshore trading brokers offering deposits and withdrawals through cryptocurrency. 


Hugosway are headquartered at Beachmont Business Centre, Suite 65, Kingstown, St. Vincent and the Grenadines and currently completely unregulated by any governing body, hence why they can offer such high leverage and access to institutional grade liquidity. In fact, they can offer higher leverage than the majority of brokers in our Best Forex Brokers ListOpens in a new tab.

Trading Conditions

Luckily, as Hugosway is based offshore they are not subject to such strict regulations so they can offer a maximum of 1:500 leverage on forex pairs and 1:100 leverage on cryptocurrencies. This is a HUGE positive factor as it allows traders to grow accounts at a really fast speed. Leverage can be a double edged sword, you can grow account balances fast but also lose account balances fast due to being able to risk a high percentage of your account in every single trade. You can get this kind of leverage with a few other regulated brokers like IC MarketsOpens in a new tab.

They offer a huge amount of pairs and products to trade, this includes 55 currency pairs, 31 cryptocurrencies and 104 stocks which is more than enough for all retail traders! For most traders that just stick to major pairs, a few minors and the main cryptos there is the perfect amount of products. 

Forex Pairs55
Cryptocurrency Pairs31
Stocks104
Leverage On Forex Pairs1:500
Leverage On Crypto Pairs1:100
SpreadsAvg 1 Pip On Majors
Commissions$7 Per Lot Traded


Spreads and trading costs are very important, especially for day traders and traders specialising in the lower time frames such as the M15 and the M30. With this broker, they are very tight spreads (due to Hugosway being an STP/ECN broker), coupled with low commissions of around $7 per lot traded. This is
very competitive in terms of price of trading, especially for an offshore broker. More than cheap enough for all traders, swing and day traders alike to still make great profits per trade. On our
Top Forex Brokers ListOpens in a new tab.