Forex Broker LoyalForex
LoyalForex-Forex Broker review
|Type of broker||LoyalForex is a ECN Broker.|
|Operating since||2010. |
|Regulation||No information about it.|
|Country ||The offices of the broker LoyalForex are located in the British Virgin Islands.|
|Instruments ||LoyalForex offers the possibility to trade with the following instruments:|
- Forex market: 62 different currency pairs in the spot market, from the most important pairs such as the EUR/USD and the USD/JPY to other more exotic like the USD/ZAR.
- Gold and silver in the spot market.
- Contrats For Difference based on the following instruments:
- Futures on stock indices.
- Futures on commodities.
- The major US Stocks:
- The major European stocks.
- The major Asian stocks.
This broker offers three trading accounts for clients with different profiles. The following are the main features of these accounts:
- Forex Mini: This is a trading account for beginners traders. For that reason it can be opened with just $50. However it allows to trade with all instruments offered by LoyalForex. It offers Non Dealing Desk Execution (Straight Thru Processing) with a leverage of 1:300 and a minimum transaction size of 0.01 lots.
- Forex Pro Fixed: It is a trading account for more experienced traders which offers Non Dealing Desk Execution (Straight Thru Processing) with a leverage of 1:300, fixed and very low spreads from 0.9 pips for major currency pairs and a instant execution. This account requires a minimum deposit of $2000.
- Forex Pro ECN*: This trading account is designed for professional traders. It offers ECN trading conditions with a fast execution and variable and very low spreads from 0.4 spreads for major currency pairs such as the EUR/USD. As an ECN account it provides access to large liquidity providers like banks and other traders. To open an account of this type the client must make a deposit of $3000.
*The commissions for trades in the Forex Pro ECN account are $4 for each traded lot.
Loyaforex offers two trading platforms for their clients whose characteristics are as follows:
- Metatrader 4: This downloable application is one of the most famous and one of the most complete trading platform in the field of Forex brokers. This platform include a lot of market analysis tools such as advanced charts, dozens of built-in technical indicators, an internal mailbox to receive communications and news and others. Metatrader 4 allows to create, evaluate an implement automated trading systems (Forex autotrading) called Expert Advisors, which allow to trade in the market automatically.
- Webtrader: This trading platform is a web based application which can be accessed from any place with a computer an internet connection which gives more flexibility to the trader. It doesn´t have as many functions and tools as Metatrader 4 but it has updated quotes, market news and price charts with technical indicators. This application allows to manage all open positions in the market.
LoyalForex also offers an application that allows to open and close market positions and manage the trading account from any mobile device such as an iPhone for example. This platform among other functions, has updated quotes and basic charts.
|Minimum account size ||$50 USD.|
|Minimum lot size ||0.01 lot. |
|Maximum Leverage* ||Up to 1:300.|
|Spreads ||Depending of the account, this broker offers two types of spreads:|
- Fixed and low spreads from 0.9 pips for major currency pairs such as the EUR/USD and the USD/JPY.
- Variable and very low ECN spreads from 0.4 pips for major currency pairs.
|Demo account ||Yes, with no limit of time|
|Payment options ||The client can deposit/withdrawal funds through Bank Wire Transfer, Credit Cards, Payza, Liqpay, Liberty Reserve and Global Digital Pay.|
- LoyalForex offers ECN (Straight Thru Processing) execution with variable and low spreads through the Forex Pro ECN account.
- It offers a web based trading platform for all their clients.
- This broker offers 24 hours support through e-mail.
- LoyalForex offers regular bonuses for clients that opens a trading account and deposit funds.
- It offers the possibility to obtain extra money promoting its services through an associated affiliate program called LoyalForex Affiliates.
|Link to the website ||Loyal Forex Website|
|Open an account|
|LoyalForex offers||- This broker offers a welcome bonus for new clients that open a real trading account and deposit funds . The amount of this bonus is equal to 10% of the capital deposited by the client.|
|Other categories of this broker |
- CFD Broker.
- Gold Broker.
- Silver Broker.
- Metatrader 4 Broker.