General Information & Regulation
BTFX is a provider of online Forex and CFD trading services, established in 2011, and is regulated offshore by the Financial Services Authority of Malta (FSA), but it does not show a detailed regulatory license number.
Market Instruments
On the BTFX marketplace, investors can trade over 40 Forex currency pairs, gold, silver, and other precious metals. However, BTFX cannot offer investors access to other instruments like indices and CFDs.
BTFX Minimum Deposit
BTFX offers traders five different types of accounts with maximum trading leverage of 1:200. To register an account with BTFX, traders should credit their accounts with at least $250, an average minimum deposit comparing to conditions of other brokers. Still, this amount can be lower ($100 or even $1). However, the initial deposit fee for ECN accounts is higher.
BTFX Leverage
The maximum trading leverage available offered by BTFX is up to 1:200, in terms of forex trading. Since margin trading can amplify returns as well as losses, so it is super important to choose the proper leverage level, and inexperienced traders are not advised to use too high leverage.
Spreads & Commissions
BTFX offers average floating spreads on commission-free accounts. On the other hand, the broker charges lower spreads on ECN accounts amounting to 0.5 points on EUR/USD, but a commission of $7 per lot. Thus, holders of ECN accounts pay 1.2 points for a standard lot on EUR/USD, including commissions which is a standard fee in the brokerage industry.
Trading Platform
BTFX provides the popular MetaTrader4 platform and Autotrade MyFXBook. MT4 features a wide range of trading tools such as technical indicators, charts, and expert advisors that can be ready-made and self-developed. Besides, those traders who copy deals can use Autotrade on MyFXBook through their profile BTFX Live.
Deposit & Withdrawal
BTFX welcomes convenient deposit and withdrawal methods, mainly credit/debit cards, wire transfers, bank cards, NETELLER, Skrill, PayPal, MoneyGram, etc. Traders can choose flexibly according to their needs.
