FXFlat Review

FXFlat initially started off as a forex and CFD brokerage brand, way back in 1997. However, it has transited its business to operate as a bank offering full securities trading. What this does is that it now gives room for heavily capitalized traders to explore the full range of tradable assets that go beyond conventional retail-based FX/CFD trading.

I. Background and Company Overview of FXFlat

FXFlat is a Germany-based financial services firm and it offers trading of stocks on the NYSE, Nasdaq, DAX and London Stock Exchange. You can aso trade futures on EUREX, STOXX, German Bunds or futures on US stock indices as E-Mini or Micro E-mini contracts. There are also the conventional FX pairs and CFDs on all the assets mentioned, including ETFs. This gives traders a wide range of choice in terms of what they can trade.

Some of the features that continue to attract traders to FXFlat are:

• Trading on all CFDs is commission-free.
• Access to trade more than 1.5 million exchange-listed stocks located in 150 exchanges worldwide.
• There is negative balance protection for all retail trader accounts.

II. Trading Platforms and Tools

The trading platforms available on FXFlat include:

• MT4
• MT5
• StereoTrader

The MT4 and MT5 platforms feature prominently on the FXFlat portal. They both come in three versions: the desktop client, the mobile apps for iOS and Android devices, and a webtrader. The futures assets listed on FXFlat can only be traded on the MT5 platform.

The StereoTrader can be described as a platform within a platform. This platform integrates with the MT4 and MT5 to improve trading efficiency. You need at least 200 euros in your account to activate the StereoTrader. It only works on Windows computers. Simply download it from the FXFlat website and select MT4 or MT5 in the dialog box as the base platform. It works in four modes: futures mode (for NinjaTrader), hedge mode, single hedge mode (for MT4) and single net mode (various platforms).

Some of the tools and add-ons you will find on FXFlat to enhance the trade experience on the various platforms are as follows:

• MetaTrader Plus is a free add-on for the MT4 and MT5 platforms. This is a trading package of customized EAs and indicators, and also comes with smart order lines which indicate areas of partial closure as well as time stops. This also comes with a trade size and margin calculator.
• For the StereoTrader, we have the VPOK Volume Profile indicator. This shows the real volume-at-price data from the underlying charts. It uses other indicators such as Point of Control, VWAP and Supertrend to draw the key volume levels at specific price points. Any price differentials between the underlying futures asset and the CFD tracking the future is accounted for.
• The forex screener comes from a 3rd-party provider and consists of filters which can be deployed to scan all listed forex pairs to see which ones have potential trade setups according to the trader's pre-defined parameters. It can screen several asset classes in a few seconds.

III. Account Types and Spreads

What are the account types on FXFlat?

• Standard account
• Professional account

The Standard account has a cash account sub-type, and a margin account from where leveraged trades can be performed. The minimum deposit is set to 200 euros. Spreads start from a minimum of 0.8 pips for the most liquid currency pair (EUR/USD) and for indices, this is set at 1.0 points. For gold, the minimum spread is 0.3 pips. Commissions are charged on specially selected instruments, depending on what trading platform is used. These commissions start from 3.50 euros per standard lot for each turn of the trade for FX pairs, and 1.90 euros per standard point for the DAX and US30 index assets.

The Professional account is for those traders who meet the definition of pro traders according to the regulator's stipulations. There is no minimum deposit requirement. Professional account holders have access to enhanced leverage, but also have an increased margin requirement for overnight positions due to the large volumes of their trades. They also do not have the protections of standard account holders such as negative balance protection.

IV. Contract Specifications

Here are the contract specifications on FXFlat.

• The minimum order size on all accounts is 0.01 lots.
• The maximum leverage for retail traders is 1:30, in keeping with ESMA's regulations.
• The maximum leverage for professional account holders is 1:200 (FX pairs, major indices CFDs and gold). For crude oil, US stocks, German stocks and cryptos, the maximum leverage is set to 1:50, 1:20, 1:10 and 1:3, respectively.
• Maximum leverage on interest rate-based assets for professional traders is 1:100.
• Margin call level is set to 100% for standard and professional account holders.
• Futures trading on standard and professional accounts attracts a maximum leverage of 1:135.

V. Security and Regulation

The FXFlat brand is owned and operated by FXFlat Bank GmbH. The company is regulated by the Federal Financial Supervisory Authority (BaFin), Germany, with license number of 109603.

VI. Customer Support and Education

How can you reach the customer support desk on FXFlat? Here are the available channels for all entities.

• Phone: 0080 000 39 35 28
• Email: service@FXFlat.com
• Live chat
• Callback function
• Twitter: twitter.com/FXFlat
• Facebook: facebook.com/fxflat

Conclusion

If you are a fan of trading with the volume profile indicator, or you want to expand your trading portfolio by including futures assets, then FXFlat should be your go-to broker. Open an account today to explore a world of expanded trading possibilities.