FxUnited Review: Suitable for Newcomers & Experienced Forex Traders
4 stars based on
First of all, FXUnited has an official website that has a lot of fxunited forex trading happening on the information front. The broker comes across as a vivid motorsport fan that is proud to advertise its involvement with numerous racing series and the sponsorship of different drives fxunited forex trading several racing categories. The website is riddled with information on a wide page theme that tries to cram as fxunited forex trading information as it can into the home page.
Traders might be inconvenienced by the cluttered design, especially considering that most fxunited forex trading mainstream Forex brokers are opting for a minimalist approach. However, several large-scale scams, crash of the NZ economy and instances of financial abuse had prompted the FMA and the FSPR to issue new guidelines to curb the number of financial irregularities in the market. The FMA also publicly issued a notice in May of warning its investors about the potential conflicts of interests while investing or trading with FXUnited.
FXUnited tries hard to compete in the highly competitive FX market and does so by offering a standard FX trading product in two different guises. FXUnited provides two different types of accounts, known as the Standard account and the Premium account. The Standard account has a fixed minimum FXUnited spread of 3 pips, while the Premium account has variable spreads starting at 0 pips.
Other differences include fifth decimal pricing available for the Premium account along with a commission per trade. The maximum FXUnited leverage available for both accounts is restricted to a maximum of 1: Lower leverage does have its advantage, but FXUnited accounts are aimed at smaller traders that are looking for an edge in the market through a small capital and higher leverage. The broker also promises guaranteed stops fxunited forex trading limit orders, which is impossible in a real ECN account due to liquidity purposes.
The broker does provide a free SWAP feature, which fxunited forex trading traditionally a feature only provided with Sharia-compliant accounts. However, lack of SWAP is applicable for both positive as well as negative SWAP, which may prevent some trading strategies from making money through positive rollover. A majority of trading conditions provided by Fxunited forex trading consistently points to a conventional dealing desk model, regardless of how much fxunited forex trading broker stresses about its brokerage being based on the non-dealing desk model.
FXUnited is another broker that uses the MT4 terminal for its brokerage purposes. Traders can download the MT4 on their PC as well as on their smartphones or tablets for accessing the financial markets on the move. FXUnited mobile trading may not be as rewarding an experience as the traditional desktop platform, primarily due to the range of charting options and other features that are typically available with the desktop interface.
Regardless, both desktop, as well as mobile FXUnited apps, grant access to a wide range of currency pairs, commodities, precious metals, and indices to allow traders to diversify their investment portfolios into different markets. FXUnited also supports the WebTrader interface offered by the MT4 terminal, which provides further flexibility for traders to access their accounts without a dedicated device. The broker also provides fxunited forex trading unique investment oriented trading account that allows investors to enjoy a steady income without actually trading in the markets.
The Capital Gain Auto Trading CGAT platform is designed to pay a fixed fee return on investments, which are managed by Expert Advisors and manual trades performed by experienced traders. FXUnited understands the implications of their regulatory status being canceled by the FMA, which has forced the company to attract new traders through exceptional FXUnited bonuses. Immaterial of the strategies adopted by the broker, FXUnited is finding it hard to sustain itself in the wake of competition from regulated and trusted brokers from around the world.
FXUnited is a white label platform Up to 1: