RFXT Forex Broker
Company | Royal Forex Traing S.A.L |
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Founded in | 2008 |
Online since | 2008 |
Offices in | Lebanon |
Payment options | Check, credit cards, debit cards and wire transfer |
Demo Platforms | Meta Trader 4, MT4-ECN |
Account currencies | United States Dollar |
Regulated by | Not Regulated |
US Traders welcome? | No |
Website available in (languages) | Arabic, English |
Support available in | Arabic, English, Chinese, French and Turkish |
Support methods | Callback, phone, email, live chat, office, phone |
Account Types (micro standard executive islamic) | ECN, Standard |
Minimum account size | $1 |
Minimum position size | 0.1 lot |
Spread type | Variable |
Typical spread on EUR/USD, pips | 0.8 |
Minimum spread on EUR/USD, pips | 0.3 |
Scalping | Allowed |
Expert advisors | Allowed |
Trading instruments (GOLD; CFD, etc. and the leverage) | Forex- 1:400, Gold & Silver- 1:100, CFD- 1:100, Oil- 1:100, Stocks- 1:4, Options- 1:100, Futures- 1:100, Indexes- 1:100, Agriculture- 1:100, Soft Commodities- 1:100, Energies- 1:100, ETF – 1:4 |
Trading platforms | Meta Trader 4 |
Digits after the dot in quotes | 5 |
Margin call level | 100% |
Stop-out level | 20% |
Number of currency pairs | 42 |
Trading contests | Yes |
Free education | Yes |
Personal manager | Yes |
Trading by telephone | Yes |
MAM accounts | Yes |
Segregated accounts | Yes |
Islamic accounts available | Yes |
Hedging | Yes |
Overnight interest rates (swaps) | Yes |
Trailing stop | Yes |
Pending orders | Yes |
Mobile trading | Yes |
Automated trading | Yes |
Royal Forex Trading S.A.L which is most commonly known by the name of RFXT Forex broker was established in the year 2008 and has been into internet based online trading since then and has their office in Lebanon. They offer a variety of services to their customers which include various trading contests time to time to keep the interest of the customers alive. They also provide free education to their customers on the forex market. You can also avail personal manager to manage your accounts better. You can also avail the facility of putting the trade by telephone. They also offer MAM accounts and segregated accounts. Islamic account is also provided to the Muslim traders who follow Islamic laws on trading. The traders do not require to open send any documents through postal mails to open an account with them. You can have United States Dollar as the account currency. Their website is available in Arabic and English while the customer support service is available in Arabic, English, Chinese, Turkish and French. The traders can reach the customer support staffs through Callback, email, live chat, office, phone and Skype.
They offer different types of accounts which include demo accounts, ECN and Standard. The trading platform offered for all the accounts is Meta Trader 4 whereas for demo account you also get MT4-ECN. The Meta Trader 4 is the most trusted trading platform in the forex market. The minimum amount required to open an account with them is $1 and the minimum position size is 0.1 lots. They allow the traders to do scalping while trading. The use of Expert Advisor is also allowed to the traders. They offer 42 currency pairs to trade in which includes all the major pairs and also 5 exotic pairs. They also offer mobile and automated trading facility to their traders.
The reviews have always been the best way to know about the company’s performance in the market and the quality of service that it provides to its customers. The overall reviews about RFXT by its users are mixed and most of them are about their customer support service which is multilingual and is very responsive and friendly. The trading platform is also liked by many as it is very easy to use and the execution of trade is fast and successful. Many of the traders like the fact that they allow scalping and hedging. The use of Expert Advisor helps them in doing trade successfully. They offer 42 currency pairs to trade in which includes all the major pairs and also 5 exotic ones and is liked by many. They offer trade in many other trading instruments from precious metals to Energies along with forex and is liked by many traders. A few cons mentioned is that they have very limited payment options and that their website is available only in Arabic and English. The average rating given to the company by its users stands at 3.6 out of 10.