PFX Markets

General Information & Regulation

PFX Markets presents itself as a UK-based forex broker and offers its clients a choice of 3 account types, as well as access to the MetaTrader4 platform. PFX Markets‘ website does not feature any corporate information, other than a contact number and an address in the UK. So, it is unclear which is the company operating the brand, which is very disturbing, because anonymity is quite common when it comes to scamming. PFX Markets’ website does not mention anything about regulation. Obviously, PFX Markets is an unregulated broker.

Markets Instruments

PFX Markets offer over 30 currency pairs, and a selection of CFDs on commodities, precious metals, indices and crypto coins

Minimum Deposit

The minimum deposit requirement to start trading with PFX Markets is 100 USD. Although this is acceptable, given the fact that PFX Markets is an unregulated broker, traders are not advised to register real trading accounts here.

Leverage

In terms of trading leverage, clients of the broker are offered high leverage levels, up to 1:400 on Premium accounts, and reaching 1:1000 on demo ones.

Spreads & Commissions

As tested with a demo account the benchmark EURUSD spread floated about 1,3 pips and that looks good, in case the demo account mirrors their standard account, which we were not able to verify.

Trading Platform Available

To our surprise, PFX Markets offers MT4 trading platform. As usual, the presence of the MetaTrader4 (MT4) platform, is viewed as an important advantage in a forex brokers offering. This piece of software is still the most popular forex trading platform, although its successor lately gains popularity among brokers and investors. The MT4 is highly praised for its top-notch charting, numerous customizable indicators and Expert Advisors available, the MQL marketplace, and more.

Deposit& Withdrawal

The minimum deposit requirement is 100 USD. And you may pay in various ways – the broker accepts major cards like VISA and MasterCard, bank wire and Neteller – a popular e-wallet. PFX Markets however does not work with Skrill, and that is notable, because of the new anti scam policy of the payment company – since last October, Skrill requires all brokers, targeting customers on the European market ,to prove they hold a legit license. As we already noted PFX Markets is not a licensed broker.