Last update: 23 July 2020
5 min read
Non-recommended broker
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FXFair review

23 July 2020

This broker was not featured in our 2023 Broker Review Audit. This is because, in the past 12 months, it has failed to pass our initial screening process and is not recommended by our team of experts. As such some of the information found here may be out of date.

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FXFair is the online trading name of FXFair Limited, a company that is registered in St Vincent and the Grenadines. Choosing a broker that is regulated is an important thing to consider, but it’s not always the most viable option. The FSA in St Vincent is not known for its strict regulations, but separating customer and corporate capital is one of its requirements. This does provide a certain amount of reassurance, albeit a very small amount, because it will mean your money will be kept safe by being deposited in a specially created bank account and won’t be available to be used for any service within the FXFair firm. So, while being registered by the FSA in St Vincent and the Grenadines may not be the best scenario, it is far better than not being regulated at all.

Currently there are a number of promotions being run by FXFair









Forex, Metals

Not Verified

Bonuses are often a good feature to look out for and always work well for brokers because they are a great way of attracting new clients. So what is FXFair currently offering?

  • 20% deposit bonus – This bonus is awarded to all FXFair clients who make a deposit. ECN account holders, however, only receive a 10% boost. The minimum deposit amount to be eligible for this bonus is $100 and the maximum cumulative bonus amount is $500 per client.
  • $50 No Deposit Bonus – This was launched earlier and the allocation has been exhausted but the campaign will be relaunched soon. It awarded a $50 no deposit bonus to the first 1,000 new clients.
  • Refer a Friend Bonus – Invite your friends to join FXFair and you’ll get a $50 thank you reward.

Certain terms and conditions are applied to all promotions and bonuses. So make sure you spend time reading them. If you don’t understand or need further clarification get in touch with FXFair customer support before registering for an account.

What types of account are there to choose from with FXFair?

There are three different types of account to choose from at FXFair. They are the standard account, real ECN account and prime account. If you want to try out the broker before investing your own cash there is also a demo account option. It also provides you with an opportunity to find your way around the website, see what else is on offer, test out the trading platform and practice your trading strategy. All without risking any real cash. And when you’re ready to open a real money account, you can choose from the following:

Standard Account

  • Minimum deposit amount $25
  • USD and EUR account currencies
  • 52 currency pairs and metals
  • Leverage up to 1:500
  • Floating spreads from 2.0 pips
  • No dealing desk
  • No re-quotes
  • Scalping, hedging and Expert Advisors allowed

Real ECN Account

  • Minimum deposit amount $25
  • USD and EUR account currencies
  • 52 currency pairs and metals
  • Leverage up to 1:500
  • Floating spreads from 0.0 pips
  • Commission of $2 per $100,000 traded
  • No dealing desk
  • No re-quotes
  • Scalping, hedging and Expert Advisors allowed

Prime Account

  • Minimum deposit amount $100
  • Minimum balance $25,000
  • USD and EUR account currencies
  • 52 currency pairs and metals
  • Leverage up to 1:200
  • Floating spreads from 0.0 pips
  • Commission of $1.6 per $100,000 traded
  • No dealing desk
  • No re-quotes
  • Scalping, hedging and Expert Advisors allowed

Payments can be made in a number of different ways, including Visa and MasterCard, wire transfer, FasaPay, Skrill and Neteller. Minimum and maximum limits apply, depending on the method chosen along with processing times and additional fees.

FXFair uses MetaTrader 4 for its trading platform

all handsAs you might expect, FXFair has chosen the most popular trading platform currently available to offer to its clients. MetaTrader 4, or MT4, is the leading trading platform available and has become the industry standard. It has a very user-friendly interface and is very customizable as well as being easy to use, which is a bonus for beginners. It comes equipped with a wide variety of indicators and illustrated tools that help even the most inexperienced trader achieve greater success. The MQL programming language allows traders to add their own systems to make it possible to implement their own trading systems and indicators. There are in-built Expert Advisors but it is also possible to add your own. The benefits of trading with MT4:

  • Real time push prices
  • Price alerts
  • Automated trading systems from third parties
  • Chart modules for technical analysis
  • Programming own trading systems and indicators
  • Compatible with most mobile devices

Customer support and education

There is very little in the way of educational material available with FXFair. There is a FAQs section that should answer a number of common questions. But for anything else you will need to get in touch with customer support. There are several email addresses, depending on your query. As well as a telephone support line which is open Monday to Friday from 7.30am until 4.00pm.
FXFair is still quite a new broker which means there is still plenty of time for the company to make improvements. One thing we’d like to see would be something in the way of training. For us it shows a level of commitment towards their clients and has become a mainstay for many of the larger brokers we feature in our reviews. Apart from that there is very little we can say against this broker and if the no deposit bonus is introduced again it will be worth trying out for sure.
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