Education and Research
Tools and features
FXFlat is a multi-featured, regulated broker that provides all types of financial instruments listed on more than 130 exchanges from all over the world. This broker allows users to trade forex and also allows the trading of CFDs, options, and futures for retail traders. Should you trust this multi-asset broker? Find out by reading our complete FXFlat review.
- Retail investor accounts benefit from negative balance protection
- Segregation of clients’ accounts (company funds are kept separately)
- High maximum leverage (according to regulations)
- Access to the forex market (multiple currency pairs), stock market, and others
- Many payment methods, including bank transfers directly in your FXFlat account
- Access to many popular trading platforms (including the MetaTrader platform)
- Demo accounts available for only 30 days
- Some video content is only available in German
- European regulated broker (trading in many other countries is not allowed)
- Trading cost is not clearly specified
Many people nowadays want to put their money to work for them. One way to do so is to open a brokerage account and manage your own investments.
However, choosing the right company for your needs can be tricky, which is why we’ve decided to provide you with this comprehensive FXFlat review, so you can decide whether it’s the right fit for your trading and investing needs.
FXFlat is headquartered in Germany and was founded as a mainly CFD and forex broker. However, over the course of more than two decades of experience, it has grown into a multi-asset brokerage firm, providing all types of financial instruments listed on more than 130 exchanges from all over the world. Since 2015, FXFlad has become a securities trading bank.
Overall, FXFlat is an online broker where you can trade forex, but not only – trading CFDs, options, and futures are all allowed for retail traders.
FXFlat is a multi-featured, regulated broker that provides access to many tools and trading platforms. In the FXFlat review below, we’ll look at its main features, so you can have a better understanding of its trading conditions.
FXFlat has a rich offering in terms of trading platforms, which reflects the variety of assets available for trade if you sign up with this broker. First, it’s important to point out that the world-renowned MetaTrader platforms are available.
These are highly appreciated for the variety of tools and support for any type of trading strategy, including powerful automated trading capabilities, futures trading, day trading, and many more. MT4 and MT5 are well-known for their customizable interface, which allows you to select your favorite indicators, change chart types, and make use of the many plugins available.
In addition to this, professional traders with more than one account would greatly benefit from the MetaTrader 4 MultiTerminal. This is a platform where you can manage multiple MT4 accounts with ease. This mirrors the MT4 platform, except that it has several features that help you handle several accounts at the same time.
MT4 and MT5 are available on desktop, mobile phone, and directly via your browser, known as Web Trader. Whether you choose the desktop or browser version, the trading system is the same, so you can choose the version that’s most convenient for you.
Next, Trader Workstation (TWS) is a multi-asset trading platform that enables you to buy and sell stocks, futures, options, bonds, funds, and others from more than 130 exchanges around the world. The main versions of TWS are:
- TWS Latest, which is frequently updated with all the new features
- TWS Stable, which is less frequently updated (hence not all new features are available), but is more stable than TWS Latest
- TWS Offline, which requires manual updates
TWS is only available as a downloadable program, so you cannot access it via your browser, unlike MT. There are two main versions of Trader Workstation: Mosaic and Classic.
Mosaic is highly customizable for all types of traders, regardless of experience. The main features include order management, comprehensive trading tools, watchlist and portfolio management, charting, technical analysis, a market scanner, and more.
The Classic version is neater and ideal for traders looking for complex algorithms and tools.
TWS has multiple trading modules, such as BookTrader (ideal for quick trading in stocks and other assets),
OptionTrader (ideal for options traders)
BasketTrader (to trade multiple asset classes at the same time)
FxTrader (for foreign exchange markets), and many more.
Finally, all trading platforms allow you to open both short and long positions. This means you can bet on both rising or falling prices, as your strategy dictates.
Education and Research
Just like with its trading tools, the educational and research capabilities are extremely expansive. You can choose from hundreds of videos, webinars, and English articles on MT4 indicators and tools. However, some of the video content is only in German, so non-speakers have limited access to education.
Despite this, the platforms offered all include guidance on account management and managing your portfolio, an economic calendar, and how to trade different complex instruments according to your trading style. There is also the possibility to subscribe to news publications, such as Reuters.
Regulation and Safety
While FXFlat is not regulated by the top dogs in the world, it is supervised by the Federal Agency for Financial Services Supervision (BaFin). It is also a securities trading bank. Overall, its current regulatory status allows the company to provide its services in all EU countries under the MiFID II Directive (as per the rules from the European Securities and Markets Authority, ESMA).
Unfortunately, FXFlat is not regulated globally and cannot function in other countries. If you don’t reside in the EU, you may want to check out other international brokers, such as Plus500 or FP Markets (in many regions around the world, except for the US), eToro, or Trading212 (in the US and around the world).
As for safety, FXFlat does provide negative balance protection, so you cannot lose more than you have in your trading account. All information is encrypted, and your account can be further protected by enabling two-factor authentication.
FXFlat Pricing & Account Types
For retail investors, FXFlat essentially offers only one type of account, known as the Standard account. The minimum deposit is €200 (the euro is the base currency), and the maximum leverage allowed ranges from 1:2 (for CFDs on cryptocurrency) to 1:200 for spot forex. The Standard account provides negative balance protection, which means that you can’t lose more money than you have in your account.
FXFlat further provides a corporate account. This is intended for businesses, but there are two other trading accounts for professional clients as well. The Professional Plus account also has a minimum deposit amount of €200, but qualifying investors can use much higher leverage on all assets.
The Professional Plus account has negative balance protection, while the second type, Professional Classic Account, does not. Also, the second type has no minimum or maximum deposit amount and has the same leverage limits as the Plus account.
Finally, if you’re interested in checking all the features and tools, you can open a demo account. Unfortunately, it is only available for 30 days, which could be a major drawback if you prefer to test your trading strategies using virtual funds.
There are no specific costs charged by FXFlat, but you need to consider spreads and other fees that may be incurred depending on your chosen asset. Fortunately, FXFlat provides a fee calculator on its website, where you can select your trading platform, asset, and lot, and you can see the total costs for the trade. However, the calculator is only available for MetaTrader 4 and 5, not for Trader Workstation.
Finally, in terms of deposits and withdrawals, the main options are PayPal, bank transfer, Skrill, and Sofort. As mentioned before, the minimum deposit is €200 in the beginning, then you can deposit a minimum of €50.
FXFlat’s customer support team can be contacted via phone (for free), e-mail, and live chat. You may also schedule a callback. This is extremely convenient as you can choose the right channel depending on whether your query is urgent or not. However, the customer support team only works 24/5 (when the markets are open).
How Does FXFlat Compare?
FXFlat has one of the most expansive offerings on the market. Most online brokers tend to be specialized in different asset classes, such as forex brokers (CedarFX) and CFD brokers (like Kot4x or OspreyFX). The broad array of assets provided by FXFlat comes as refreshing for traders with a multi-asset trading strategy.
FXFlat is superior to other brokers in that it is regulated in the EU. Unregulated brokers, like CedarFX, will most likely expose you to higher risks, especially if you are new to the trading world.
The minimum deposit of €200 is relatively high compared to other brokers. For example, Hankotrade allows you to sign up and deposit as low as $10 for the STP account. The cost structure is not very transparent at FXFlat either, except for the calculator that allows you to check the spreads. However, this could be due to the long list of assets provided on its many platforms. To mitigate this drawback, interested traders may want to open a demo account first and use paper money to understand the cost structure and the features provided before risking real cash.
In terms of education and research, FXFlat is superior to many brokers, including lower-cost ones like Turnkey. You will have access to many tools and features that will help you with your trading journey, regardless of your current skill and trading knowledge.
Overall, from many perspectives, including the choice of trading platforms, trading conditions, and markets offered, FXFlat has a superior offering compared to many other online brokers.
Who Is FXFlat Best For?
FXFlat is suitable for all types of traders, regardless of the type of strategy, skill, or assets preferred. This is because, no matter your approach, you can choose the right platform for your needs, and you only need as low as €200 to get started.
FXFlat also has an attractive offer for professional clients. Whether you are about to start your trading journey, or you already have experience, FXFlat may be the right choice. Thanks to its demo account, anyone can sign up to check out all the features and tools before committing to this broker.
What trading instruments are available? Is forex trading allowed?
Apart from the forex and CFD markets, where you can opt for trading currencies and contract-for-differences on stocks, indices, crypto, and other assets, FXFlat offers leveraged trading on multiple other financial markets, including futures and options. The access to the stock market is particularly broad thanks to FXFlat’s partnership with Interactive Brokers.
What does it mean that FXFlat is a securities trading bank? Is Fxflat regulated?
Since 2015, FXFlat operates as a securities trading bank, which is especially an investment firm regulated and authorized by BaFin. In other words, FXFlat is under the supervision of EU authorities, which monitor its solvency and conduct, hence increasing safety for its client funds.
Is FXFlat a forex broker?
FXFlat is a multi-asset broker, providing forex trading, futures trading, currency trading, and others.
Are there any costs associated with the account opening process?
There are no costs associated with opening an account. However, you need to deposit at least €200 if you open a live trading account. The demo account is completely free of charge and allows you to trade with virtual funds for a maximum of 30 days.
Final Verdict: FXFlat Review
In this FXFlat review, we have discussed the trading environment, conditions, benefits, and main costs. The range of assets and trading tools (via multiple trading platforms) is particularly impressive.
Perhaps one drawback is the fact that the demo account is only available for 30 days. In addition to this, some educational resources (including videos) are only available in German. Overall, FXFlat is a well-rounded broker ideal for any type of trader and strategy.