2.0/5

FxFlame review

Item: FxFlame review
Rating: 2
Author: Cyra Anderson

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FxFlame is currently closed but we can recommend these brokers.

FxFlame is a Forex brokerage company registered in St Vincent and the Grenadines. While this may not be the best country in terms of regulation, it is certainly preferable to no regulation at all. At the very least you can feel more confident about the security of your funds. As the requirements in place mean client funds have to be kept separate from those of the company and cannot be used for any other purpose other than for making your trades. FxFlame was started by a group of frustrated traders who were disappointed with the trading opportunities that were available at the time and decided they would be able to do things much better.
So what can FxFlame offer traders?

FxFlame is currently running some special promotions that are worth taking a look at

Bonus	Yes
Regulation	No
Mobile	Yes
Instruments	Forex, Metals, Oil
Website	www.fxflame.com
OTHER BROKERS

25% Bonus on your first deposit – For standard accounts only and up to a maximum of $500 of your deposit
50% Commission Free Trading Rebate – On all trades for the first 30 days
Refer a Friend – Refer a friend and make $100 or pay zero commission for 14 days

Various terms and conditions are applied to all promotions and bonuses at FxFlame. Make sure you read and understand them before opening a real money account.

What type of accounts are there to choose from at FxFlame?

Sign up to trade at FxFlame and you’ll be able to choose from a wide range of instruments. You can trade in foreign currency pairs, oil and CFD trading as well as spot metals. And to add to the variety there are a number of different accounts you can open. Why not pick one of the following? Or choose one as a demo account so you can try this broker on for size before making a real money commitment.

Standard Account

Minimum deposit $50 USD
Spreads from 1.2 pips
Up to 1:500 leverage
Minimum trade size 0.01
No commissions
Free VPS
Bonuses available
Demo account an option
Swap Free Account

Swap Free Account

Minimum deposit amount $50 USD
Spreads from 1.9
Up to 1:500 leverage
Minimum trade size 0.01
No commission
Free VPS
Bonuses available
Demo account an option

ECN Account

Minimum deposit amount $200 USD
Spreads from 0.5
Up to 1:500 leverage
Minimum trade size 0.01
$3.5 USD commission per lot
Free VPS
Bonuses available
Demo account an option

ECN Pro Account

Minimum deposit amount $5000 USD
Spreads from 0.0
Up to 1:200 leverage
Minimum trade size 0.01
$3 USD commission per lot
Free VPS
No bonuses available
Demo account an option

Deposits and withdrawals can be made in a number of different ways. Accepted methods include Visa and Mastercard, UnionPay, FasaPay, Neteller, Skrill and bank wire transfer. Processing time is generally 24 hours, although bank wire transfers can take 2 to 5 business days. There are no fees for making deposits, but withdrawals will incur charges depending on the method.

FxFlame uses MetaTrader 4 for its trading platform

MetaTrader 4 was developed by MetaQuotes and has become the most popular trading platform for both traders and brokers. It is compatible with a number of different devices and there are versions for PCs, Macs, tablets and smartphone devices. It’s become very popular for a number of different reasons, but its user-friendly interface, reliability and flexibility are possibly the main ones. It can be customized to suit a range of different trading styles and used for trading a variety of instruments, not just foreign currency pairs. Included with the software are indicators, charts and a host of other useful tools as well as a selection of Expert Advisors.

Customer support and education at FxFlame

For a Forex brokerage firm that was started by a group of disappointed traders we would have expected a little more in the way of customer education. But we’re guessing they were already experienced in the ways of Forex trading and didn’t think that many of their new customers would be complete beginners. The minimum deposit requirements aren’t huge which means there are definitely going to be some novice traders waiting to sign up for an account. Perhaps this is a feature that will be added in time, and we certainly hope so.

FxFlame are running a number of different partnership programs and are looking to support those looking for a white label service, affiliate service as well as introducing broker scheme. It also offers a very comprehensive service for fund managers.

The information available in the website is pretty basic and there’s no FAQs section which makes it highly likely you will need to get in touch with customer support. This can be done in a number of different ways, including telephone, live chat, Facebook message, email and Skype.

FxFlame certainly has a lot to offer traders looking for a new kind of broker. The fact that the owners of the business were once traders themselves makes this brokerage firm very appealing. The trading conditions are very favorable with a good selection of accounts to choose from and a wide variety of instruments in which to trade. The only feature that lets it down is the lack of regulation. The lack of training material is a little disappointing, but we all know how easy it is to get the right trading knowledge from a number of different Forex training sources.

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