StoneX Trading Forex Trading Customer Reviews & Expert Rating

StoneX Trading is a very good forex broker for traders who want more than just somewhere to buy and sell currency pairs.

City Index has always been particularly strong in forex, and now that it has become StoneX Trading you get the added benefit of being part of a much larger global financial services group. But importantly, the trading platform still has the tools that actually matter to active FX traders, such as decent charting, one-click dealing, Performance Analytics, Reuters news and a proper economic calendar.

You can trade more than 80 FX pairs, which is plenty for most traders, and there is a good choice of platforms. Personally, I think the main StoneX Trading platform is the best option for most people, but TradingView is excellent if you are chart-heavy and MT4 is still there for more systematic forex traders.

StoneX Trading is also one of the better choices if you want some actual service from your forex broker. You can get dedicated support 24/5 by phone, email or live chat, rather than being completely reliant on an online help centre.

Overall, StoneX Trading is best for active forex traders who want competitive pricing combined with good charting, research and trading tools rather than simply the cheapest possible execution-only FX account.

Pricing

StoneX Trading’s forex pricing is spread-based, so there is no separate commission added to normal FX trades.

StoneX says it provides deep liquidity with clear spreads and no hidden mark-ups or fees.

As with any forex broker, though, you shouldn't choose it based purely on the headline minimum spread. What matters is what spreads are actually like when you trade, particularly around important economic announcements when FX markets can move very quickly.

If you hold leveraged forex positions overnight there can also be financing charges, so these need to be taken into account if you are using forex CFDs for longer-term positions rather than day trading.

For UK traders, there is also the option of forex spread betting rather than CFDs. The underlying trading exposure is broadly similar, but spread betting profits are generally free from UK Capital Gains Tax under current tax rules, depending on your individual circumstances.

Market Access

StoneX Trading offers more than 80 global FX pairs, covering the major currencies as well as a decent selection of minor and exotic crosses.

That gives you plenty of choice beyond the obvious EUR/USD, GBP/USD and USD/JPY markets. For example, you can also trade crosses involving currencies such as the Australian dollar, Canadian dollar, Swiss franc and Chinese renminbi.

Forex is available through both CFDs and spread bets, while spot FX is also available through MT4.

One limitation is that this is primarily an OTC forex offering. If you specifically want to trade listed currency futures on an exchange, you may be better off with a futures broker. But for the vast majority of retail forex traders who want to speculate on currency movements through CFDs or spread betting, there is more than enough market coverage.

Platform & Apps

There are several ways to trade forex with StoneX Trading, which is one of its main strengths.

The main StoneX Trading platform is available on web, mobile and desktop and includes TradingView charting, customisable workspaces, more than 10 chart types, over 80 indicators, drawing tools and one-click dealing. You also get watchlists, price alerts, hedging and different order types.

You can also trade through TradingView, which gives you considerably more technical analysis functionality, including more than 100 built-in indicators, community-built indicators, screeners and advanced charts.

Then there is MetaTrader 4, which remains one of the most popular platforms for dedicated forex traders, particularly if you want to use automated trading strategies or are already familiar with MT4.

Personally, I’d stick with StoneX Trading’s own platform unless you have a particular reason to use MT4. It is easier to use and has more of StoneX's own tools integrated into it.

The mobile app is also very good for monitoring positions when you are away from your desk and includes TradingView charts and Performance Analytics.

Customer Service

Customer service is one of the areas where StoneX Trading stands out from some of the newer forex brokers.

StoneX describes its offering as a “high-touch service”, with dedicated support available 24 hours a day, five days a week by phone, email and live chat.

That matters more in forex than it might with a straightforward investment account. Currency markets move quickly and trade around the clock during the week, so if there is an issue with an order or your account, being able to speak to somebody is important.

It is also one of the reasons I think StoneX Trading is particularly suitable for larger and more active traders. There are plenty of cheaper-looking forex apps around, but when you are trading meaningful positions, service and execution become far more important than shaving a fraction of a pip off an advertised spread.

Research & Analysis

This is one of StoneX Trading's strongest areas for forex traders.

There is a proper stream of FX news and research covering individual currency pairs and the macroeconomic events that drive them. You also get an integrated economic calendar, which is essential for forex trading because inflation, employment data, interest-rate decisions and central-bank speeches can all move currencies very quickly.

StoneX Trading also provides access to its global analyst coverage, StoneX TV and Market Intelligence.

I particularly like Performance Analytics, because instead of simply giving you another stream of trading ideas, it looks at how you actually trade. It can help identify patterns in your trading behaviour and whether you are sticking to your strategy.

That's especially useful in forex, where it is very easy to overtrade. Having 80+ currency pairs available doesn't mean you need to trade all of them, and sometimes understanding which markets, times and types of trade you perform best in is more valuable than finding another trading signal.

Combined with Reuters news, TradingView charting and StoneX's own market analysis, the research offering is one of the main reasons to choose StoneX Trading over a more basic forex broker.