General Information
Loyalty FX Markets is a forex and CFD broker that provides online trading services to clients around the world. Founded in 2019 and registered in St. Vincent and the Grenadines, Loyalty FX Markets offers a variety of trading instruments, including forex, indices, commodities, and cryptocurrencies.
The broker provides a range of account types to cater to the needs of different traders, including Standard, ECN, Pro and Raw accounts. Loyalty FX Markets also offers Islamic account options for clients who follow Sharia law.
Traders have access to a variety of trading platforms, including the popular MetaTrader 5, as well as a proprietary platform. The broker offers competitive spreads, with some accounts having spreads as low as 0.01 pips. Additionally, traders can take advantage of high leverage of up to 1:500, which can magnify potential profits, but also increases the risk of losses.
Loyalty FX Markets provides 24/5 customer support through live chat, phone, email, and social media. The broker also offers a range of deposit and withdrawal methods, including credit/debit cards, bank wire transfer, and electronic wallets.
To help traders improve their skills and knowledge, Loyalty FX Markets offers educational resources such as articles, video tutorials, and webinars.
It's important to remember that trading forex and CFDs involves significant risk and may not be suitable for everyone. Before opening an account with Loyalty FX Markets or any other broker, traders should carefully consider their investment goals, level of experience, and risk tolerance.
Pros and Cons
Is Loyalty FX Markets Legit？
Based on the available information, Loyalty FX Markets does not appear to have valid regulatory information, which could potentially indicate a risk for traders. However, it is important to note that this information alone is not enough to conclusively label Loyalty FX Markets as a scam.
It is always important for traders to do their due diligence and thoroughly research any trading platform or broker before investing their money. This can include checking for valid regulatory information, reading reviews and testimonials from other traders, and ensuring that the platform is transparent about its fees and policies.
Overall, while the lack of regulatory information for Loyalty FX Markets should be taken into consideration, it is up to individual traders to weigh the potential risks and make an informed decision about whether or not to use the platform.
Market Instruments
Loyalty FX Markets offers a diverse range of market instruments that include forex, commodities, indices, cryptocurrencies, and CFDs on stocks.
Forex: This broker offers access to all major and minor currency pairs, such as CADCHF, USD/JPY, GBP/USD, and AUD/CAD, as well as exotic currency pairs like EURNOK, EUR/ZAR, and more.
Commodities offered by Loyalty FX Markets include precious metals like gold, silver, and oil.
Indices offered include the major stock market indices from around the world, such as the US30 Cash, NAS100, GER40, SPX500
Cryptocurrencies: Loyalty FX Markets also offers a range of popular cryptocurrencies including Bitcoin, Ethereum, Litecoin, and Ripple.
Overall, Loyalty FX Markets provides a broad range of market instruments that cater to the needs of traders with different preferences and risk appetites.
Account Types
Four types of trading accounts are available: Standard, ECN, Pro and Raw. To open a Standard account, an acceptable initial deposit of $100 is required, and this type of trading account is suitable for most regular traders. Traders who want to try the ECN account needs to fund at least $500. Another two accounts, Pro and Raw, require an initial deposit of $1,000 and $5,000, respectively.
How to open an account with Loyalty FX Markets？
Opening an account with Loyalty FX Markets is an easy and simple process:
1. Click the “OPEN LIVE ACCOUNT” link, and fill up some required details on the popping-up page.
2. Upload your personal data for this company to verify your details.
3. Choose the preferable payment methods, fund your account and start to trade with this forex broker.
Leverage
When it comes to leverage, Loyalty FX Markets allows its clients to use leverage of up to 1:500, higher than the levels regarded appropriate by many regulators, with the maximum leverage for major forex up to 1:30 in Europe and Australia, and 1:50 in Canada and U.S.
Since leverage can magnify gains as well as losses, it can also cause serious fund losses, especially to inexperienced traders. Therefore, it is wise for beginners to choose the smaller size no more than 1:10 until they gain more trading experience.
Spreads & Commissions
Loyalty FX Markets claims to offer low spreads starting from 0.01 pips, which refers to the difference between the bid price and ask price of a currency pair. A low spread indicates that the cost of trading is relatively low, which can be beneficial for traders looking to maximize their profits.
However, it's important to note that spreads can vary depending on market conditions and other factors, so the actual spreads offered by Loyalty FX Markets may be higher than 0.01 pips at times. Additionally, the spreads for different currency pairs may also vary, with major currency pairs typically having lower spreads compared to minor or exotic currency pairs.
Trading Platform
Loyalty FX Markets offers access to the popular and widely-used MT5 trading platform. This platform is accessible on various devices, including Windows, iOS, and Android, making it a versatile option for traders who want to trade on-the-go. The MT5 trading platform is known for its user-friendly interface and offers a range of advanced trading tools to help traders make informed trading decisions.
Some of the key features of the MT5 trading platform offered by Loyalty FX Markets include:
One-click operations for opening and closing trades, making the trading process faster and more efficiency.
The ability to set stops and entry limits, placing direct orders, and setting and editing limit and stop loss, which can help traders manage their risk exposure and optimize their trading strategies.
Advanced charting capabilities, allowing traders to visualize price movements and analyze trends to inform their trading decisions.
Overall, Loyalty FX Markets provides traders with access to a reliable and feature-rich trading platform that can be customized to suit individual trading needs. With its user-friendly interface and advanced trading tools, the MT5 platform offered by Loyalty FX Markets can help traders of all experience levels to trade with confidence and efficiency.
Payment Methods
Loyalty FX Markets offers multiple account types, including Standard, ECN, Pro, and Raw, with varying minimum deposit requirements. The spreads start from 2.0 pips for the Standard account and decrease to 0.01 pips for the Raw account. Opening an account with LoyaltyFX Markets is claimed to be quick, taking only 5 minutes to sign up and verify details. The platform utilizes the MT5 trading platform, known for its advanced research and trading tools. Deposits can be made using major credit cards, e-Wallets, local payment methods, and wire transfers. Withdrawals can be requested via email or the website, with same-day processing during working hours. Loyalty FX Markets promotes instant withdrawals, including on weekends, with no manual processing required.
Customer Support
Loyalty FX Markets provides customers with a few different channels to contact their customer support team, including telephone, email, and online chat. Their support team is available to help customers with any questions or issues they may have, and they can be reached through the provided contact information.
Customers can also visit Loyalty FX Markets' FAQ section, which provides answers to some of the most common questions that customers may have. The FAQ section can be a useful resource for customers who need quick answers to basic questions.
Additionally, customers can follow Loyalty FX Markets on various social media platforms, including Twitter, Facebook, Instagram, YouTube, and Telegram. This can be a useful way for customers to stay up-to-date with the latest news and updates from the broker and to connect with other traders in the community.
Overall, while Loyalty FX Markets' customer service options may be somewhat limited compared to some other brokers, they do provide a few different channels for customers to contact their support team, and their FAQ section can be a useful resource for basic information.
If you need staff service, you can try to get in touch with Loyalty FX Markets through the following contact channels:
Telephone: +447723459208
Email: support@loyaltyfxmarket.com
Online Chat
Registered Company Address: Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent & Grenadines.
England and Wales Company Address: 61 Bridge Street Kington United Kingdom Hr5 3dj
Or you can also follow this brokerage house on some social media platforms, including Twitter, Facebook, Instagram, Youtube, Telegram.
Risk Warning
Trading leveraged products such as forex, cryptocurrencies and derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that your fully understand the risks involved, taking into account your investments objectives and level of experience.
The information presented in this article is intended solely for reference purposes.
2022-12-12 14:31
2022-12-07 16:36
