Forex Brokers Update — June 6th, 2015

Two new companies have been added to the directory of brokers on this week:
WatanFX — a Pakistani Forex broker with an English/Urdu website. It is a brand new broker and they offer MT4 trading with as little as $1 and up to 1:400 leverage — all with variable spreads.
SimpleFX — an offshore Forex broker that went online in 2014. SimpleFX offers MT4 and a custom proprietary web interface for MetaTrader, which is indeed very simplistic. Trading can be started with $1 and the maximum leverage of 1:500 can be used. The variable spread on major currency pairs is very low.
Quite a few other brokers have gotten some important updates during the week:

  • RoboForex renamed its ECN-Fix NDD account type to ECN-FixSpread NDD. No longer requires commission for trading. The spreads are now truly fixed. No longer offers cTrader platform on that account type.
  • FXOpen removed Standard account type and split ECN/STP account into two separate types. Added CFD trading to ECN accounts.
  • AMarkets lowered the minimum account size for Classic and Direct account types from $100 to $2.
  • FxPro launched office in the United Arab Emirates. No longer accepts deposits in Polish zloty. Now offers PAMM service, managed accounts, and personal managers for live traders. Islamic accounts are no longer available. Renewed its account types.
  • Saxo Bank dropped support of MetaTrader 4 platform in favor of its newly developed SaxoTraderGO.
  • Forexite is now licensed in Belize.
  • ACFX opened an office in Montenegro. Stopped accepting deposits in Polish zloty. No longer offers managed accounts and PAMM, but now provides MAM service and phone trading opportunity. Revised its account type system completely.
  • NewForex added offices in the UAE, the United Kingdom, and China. Launched trading contests. Lowered maximum Forex leverage from 1:1000 to 1:700. Increased the number of currency pairs from 25 to 32.
  • JustForex now accepts deposits via Neteller, Skrill, OKPAY, Bitcoin, and Western Union. No longer accepts CashU and SOFORT. Offers bonuses, competitions for traders, free education materials, and personal managers. Added two new account types: Pro ECN and BitCoin. Increased the maximum leverage for Classic account type from 1:500 to 1:2000. NDD account’s minimum size is now $2 — down from $100 while the leverage can be as high as 1:500 (was 1:100). The same is also true for their old ECN account type.
  • FX Solutions is now known as City Index.
  • Boston Prime FX has been delisted as it did not survive the Swiss franc market-quake.
  • MRC Markets, Pantheon Finance, and BZ Trading have been delisted as it looks like they are gone with the traders’ funds.

  • If you have any questions or comments regarding any of the latest Forex brokers updates, please feel free to reply using the form below.

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