Tier1FX is a forex and CFD broker that offers direct market access (DMA). The broker offers a wide range of desktop and mobile platforms as well as extensive liquidity. Hogg Capital Investments Ltd. owns the company, which was created in 2013. The Financial Services Authority regulates the international broker, which is based in Malta.
The MetaTrader 4 trading platform is available to the broker’s retail clients. The most extensively used Forex trading platform, MT4, caters to the demands of both novice and experienced traders. MT4 is a fast-loading platform with a plethora of capabilities, including:
- More than 85 technical indicators
- Customizable interface
- Several types of orders
- DMA execution
- Price Alerts
Also available is the Fortex 6 platform. The platform is designed for mobile trading and operates on Windows, Linux, and macOS platforms. It’s simple and easy to use, and it lets you insert commands and trailing stops with a single click. It also has advanced graphical studies and drawing capabilities, obviating the need for other software. Because Fortex 6 is a web-based platform, all that is required to establish an account and begin trading is an internet connection.
The JForex platform is also available through the company. It’s a professional ECN system with SFWX market depth, charting and analysis tools integrated, and over 180 technical indicators. Forex, commodities, indices, and single stock CFDs are all available to trade. The Java-based software also has a visual interface for incorporating automated trading robots into your trading methods.
The broker offers Forex and CFD trading:
- 50+ currency pairs.
- Stock Indices
- Precious metals
- Spot Commodities
While this is a reasonable offer, it’s not the most diverse list of products. The broker does not facilitate the trading of ETFs, futures, binary options, or spread betting.
Spreads and commissions
The company charges a commission per normal forex lot and for each CFD contract. The minimum margin requirement for FX lots is EUR 2.5, EUR 3 for commodities, EUR 0.25 for CFDs, and the broker charges 0.10 percent of the face value of cryptocurrency CFDs.There are no service or inactivity fees charged by the broker.
It is easier to anticipate trading costs when a broker uses a commission model that does not include any hidden administration fees.
Leverage depends on the instrument traded and whether you are a retail or professional trader. Retail clients receive up to 1:30 leverage split between
- 1:30 – Major currency pairs
- Major indices and non-major currency pairs – 1:20
- Non-gold commodities plus non-major indices – 1:10.
- CFDs on cryptocurrency – 1:3
Retail clients who choose to be considered professional traders can take advantage of up to 1:100 leverage. Leverage of up to 1:200 is available for standard professional clients.
Tier1FX provides Android, iPhone, and iPad users with downloadable mobile apps for the MT4 and JForex platforms. The mobile applications are simple to use and include live charts, important indicators, one-click trading, and different order types, among other features.
Please note that Blackberry and Windows mobile devices are not compatible with mobile trading.
Customers can use bank transfers and credit card payments to deposit and withdraw funds from their accounts. For both payment options, the minimum deposit is 1000 EUR, GBP, or USD. This is a lot when compared to other providers, and it may deter new traders. In addition, deposits are completed within one business day, and the broker does not charge a fee.
The least amount that may be withdrawn is 5 EUR, GBP, or USD. Depending on the payment system, withdrawal processing might take several days. Customers may be requested to transmit a duplicate of their payment card with the middle six numbers obscured, as a precaution. Just like with deposits, Tier1FX does not charge any withdrawal fees.
Tier1FX offers a free sample account. A school account is accessible for 60 days. However, this may be extended by contacting customer service, which can be found below. A demo account is a wonderful way to figure out which platform you like and test any trading tactics you might have.
Offers and promotions.
Tier1FX does not offer any welcome bonuses or promotions. Instead, the broker invests its efforts in providing superior liquidity and cutting-edge technology. We are also seeing a trend of brokers dropping hefty deposit bonuses from other brokers as regulators are vague about their use.
Regulation and licensing
Tier1FX is regulated by the Malta Financial Services Authority (MFSA) and is MiFID II compliant. The broker also participates in the Investor Compensation Program and keeps client funds in segregated accounts that are reviewed regularly. As a result, we recommend Tier1FX as a safe and reliable online broker.
The FIX APIs serve as the central core for MT4 bridge communication. This allows you to trade automatically without having to recode expert advisors. Retail traders can also take advantage of a professional investment environment with low latency execution.
Unfortunately, as reviews on Tier1FX.com show, the broker lacks instructional materials. There are no courses or seminars containing market knowledge or market suggestions. As a result, the broker is best suited for experienced traders with a thorough understanding of their products and strategies.
For simplicity, there is only one live account for retail traders, which comes with:
- DMA/STP account
- Stop out the level of 50%
- Negative balance protection:
- Leverage can be adjusted up to a maximum of 1:100.
- Base currencies: EUR, GBP, USD, CHF
- A minimum deposit of 1000 EUR/USD/GBP is required.
- Automated trading, scalping, and hedging