Review: It does what it says on the FXing tin, obviously

Home > Reviews > Review is a mecca for forex trading. The domain name itself means that you are under no illusion as to what it’s all about. Every time I meet up for lunch with we always chat about how much it is worth as just a web address, regardless of the trading capabilities and global appeal it has (they are one of the few currency trading platforms allowed to operate in the US as well). Anyway, if you’re wondering if you should trade forex should you do it with, in this review, I tried out the platform features and put some live trades on for 24 hours to give you an overview of if they are the right forex broker for you. Customer Reviews

3.8 out of 5 stars (based on 13 reviews)
Very good39%

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72% of retail investor accounts lose money when trading CFDs with this provider. Expert Review Review


Description: is one of the largest forex brokers operating globally and owned by NASDAQ listed institutional broker StoneX. offers traders access to 5,500+ assets including 80+ currency pairs, thousands of stocks, popular commodities, indices and cryptocurrencies (pro accounts only in the UK). Pricing is competitive especially for those on their RAW spread account or active trader program.
69% of retail investor accounts lose money when trading CFDs with this provider.

Why we like

If you are a forex trader, then’s trading signals, platform and trading performance data make it one of the best platforms for currency trading.


  • Trading Signals
  • Post Trade Analytics
  • Forex Specialists


  • Limited Market Range
  • No DMA
  • Pricing
  • Market Access
  • Online Platform
  • Customer Service
  • Research & Analysis
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Ratings Explained

  • Pricing: Bread and butter is forex trading so pricing is paramount.
  • Market Access: Lots of currency pairs and access to other markets as well.
  • Platform & Apps: Really intuitive app with charting pop-ups for market visuals
  • Customer Service: Local offices (with London HQ) for global support.
  • Research & Analysis: Lots of trading signals and post-trade analytics

“For FX sake”, I thought to myself when I decided to write a review about a forex broker that offers access to the forex market for forex traders because on the surface, that’s what forex trading platforms do, so I din’t really think I’d have much to say. I’m not normally a fan of forex trading becuase, a. I’ve never had much success at it and b. I find the nuances of intra-day technical analysis too complicated.

I’m a sort of old-fashioned trader, I like to look at the market and think it’s either overvalued or undervalued and in my mind anyway, that is easier to do when looking at a company’s share price, an index or even a commodity. But for some reason, with forex trading, I’ve never really got the hang of it.

Having said that I have dealt currency for about 20 years now, but more as a broker rather than as a trader. And I know that the currency markets are not only hard to understand, they come with all sorts of complexities. For instance, I used to do some prime brokerage for institutions that would hedge their currency exposure when buying aeroplanes. So we would do deals like buying 50m EURSEK, then roll it forward for delivery in 2 months’ time. A massive headache when trying to market it up. Or dealing in GBPEUR, or was it EURGBP? I remember once, marking up (or down) a forward the wrong way. It would have been a €20k error, but fortunately, the dealer didn’t know what they were doing, so we styled it out. At one point, forex trading for me was a big income generator, but also the type of business I hated most. It was so bad at one point that the broker next to me refused to pick up the phone if he knew it was a big FX trade coming through. He’d get all red and sweaty and pretend to be busy filling another customer.

I was, in fact, so frustrated with how opaque pricing was in currency trading, that I decided to start up my own currency brokerage specialising in high-value currency transfers £250k upwards) and undercutting everyone. It was called Berry FX, you can still see the demo on Youtube. Basically, personal service with the best rates anywhere ever. But alas, I am a better marketer than a salesman, so I now just let other currency brokers compete for clients by trying to offer the best exchange rates.

But you don’t really care about that. You want to know what I think of

24 Hour Test

I thought I’d try something a little different with this review and have a bit of fun with it. So I took out for a 24-hour test drive around the City of London, putting some real trades on whilst going about my business to see if I could make any money.


I started out at the Bank of England with £10k on account at 11:30. Lunch was a few minutes walk from the tube station, so I took the opportunity to put some trades on using’s SMART Signals. I’ve used these for years; back in 2018, they were known as GetGo; it was a stand-alone forex trading app. When I reviewed it back in 2018, I said back that it was the future of forex trading signals but are they still?

There are a couple of things that make these signals better than the rest.

  1. They tell you the success rate
  2. The signal is linked to an order ticket

When I was walking down King William Street to L’Antipasto to meet my contacts at for lunch, I put a few traders on. First, I looked at the trades that had a historic success rate of over 50% and followed them. Then I looked at trading signals that had a success rate of less than 50% and traded against them. It’s a pretty simple strategy that generally works (not always, though). Used the classic stop/limit risk/reward ratio to of aiming for twice the potential loss as a potential win. Again, simple forex trading strategies. The market is not hard to call, but if you get a trade right, it often pays to let it run for longer, but if it’s wrong, close it sooner.

Trading Central

Then after lunch, on the way to my next meeting, I took a few moments on London Bridge, in the glorious sunshine with Tower Bridge in the background, to take a look at some of the other signals on, Trading Central. Now, Trading Central has been providing technical analysis to brokers for decades and provides a constant stream of manually and automatically updated trading ideas throughout the day to give traders an indication of where the markets may go.

It’s not as fluid as SMARTSignals, as you have to put the trades in manually, but still gives you a bit of stimulus. This is great for someone like me because I generally have an idea of what I want to do from eyeballing a chart (I did, after all, run a technical analysis division for five years), but it’s nice to get confirmation of your thoughts one way or another.


When you are actually trading there are some great other features on the app like:

  • Swipe to trade: a bit like Tinder (so I hear – I’ve been married for 12 years).
  • Chart on tickets: with a quick tap, you can bring up a chart when on the order ticket (to double-check)
  • Working orders on charts: when looking at a chart, you can see your working orders and positions
  • Position potential: as well as seeing what margin is required when placing a trade you can also see and set your stops and limits as a potential monetary amount instead of pips.

Post-Trade Analytics

Once you’ve done a bit of trading, you can review your trading history and see where you do well and where you can improve. This is a great feature as it can break down how well you trade by time of day, markets or volatility. You can also set up “Play Maker” if you have a trading strategy and want to stick to it. Obviously, you can’t get that sort of data in a 24-hour test drive, so I’ll have to revisit that another time.

Demo Account have a pretty good demo account, in fact, it’s hard to tell the difference between the demo and live trading platform. You get the same functionality and as trades are OTC, the same prices.

However, when I opened a demo account to test them, I already had a real account. So after I got my demo account login details, I clicked through to the “webtrader” portal (and this is quite funny or alarming, depending on how you look at it), my live account details were auto-filled in by Google Chrome.

Now, had I not been checking my email, to ensure that they had sent me through my credentials (as Interactive Brokers didn’t for some reason when I tested their demo account), I may not have noticed that I was logging into a live account. It could have been disastrous if I’d started ttrading away thinking it was paper money. Even more so as you get £10k in demo funds and I’d deposited £10k in my live account when I took on a 24-hour trading signal test drive around The City.

It reminded me of when a trader thought that he was trading on a demo account and put $1bn worth of orders through and then sued his broker because they voided his €10m profits. But, that’s unlikely, to happen to me because even on demo accounts I don’t get thank lucky.  And almost certainly won’t happen to you because why would you open a demo account after already having a live one unless you were reviewing it?

TradingView & MetaQuotes

I had a good play about with TradingView, as it’s now the go-to destination for traders. TradingView is a sort of social network for traders where you can view charts (they are excellent) and post trading ideas (a pinch of salt). As TradingView has grown, they have also become an execution venue too, so you can link your trading account and deal straight from the charts. This shouldn’t be too much of a stretch for most traders as the charts on the app and web-based platform are provided by TradingView (who incidentally are one of the largest financial-based websites in the world now).

You can also trade on MT4, if you are into that sort of thing…

Am I a Forexpert?

I did make money on day one, mainly thanks to putting on a GBPUSD trade that covered most of the losses from some of the other trades. When I used SMARTSignals five years ago, I also made money. Day two wasn’t so good, on my way to an investor show, I gave back a few pennies but still ended up on top. But I have to admit my traders were calculated guesses rather than heavily researched positions. I don’t like holding positions overnight, as day trading reduces not only your margin requirements but also increases the amount of sleep you get because you don’t wake up with cold sweats in the middle of the night worrying about Asian interest rates.

Overall would I recommend Well, yes, if you are going to trade Forex and don’t know where to start, it’s a massive brand with global reach and owned by a listed brokerage with an institutional pedigree. As far as box-ticking is concerned, they tick the lot. Or should I say pip the lots…

72% of retail investor accounts lose money when trading CFDs with this provider. Video Demo

For this video review, we take them out for a 24-hour test drive, trade with real money and try some of their key features on the streets of the City of London.

YouTube video

72% of retail investor accounts lose money when trading CFDs with this provider. RAW spreads improved it’s Forex liquidity in August 2023 via what it calls a RAW pricing account which offers customers narrow or no bid-offer spreads.

Raw prices are effectively the prices that receives from the market via its liquidity providers, and rather than marking these prices up before distribution, the prices are sent to customers directly.

That means narrower spreads, with the typical bid-offer spread in EURUSD coming in at 0.00 pips and at 0.1 pips on AUDUSD.

The typical spread is defined as the median spread available.

Narrower spreads mean more trading opportunities and possibly many more profitable, and fewer loss-making trades.

Scratching a trade becomes more economical if you are paying little or no spread, and there is a far lower hurdle to overcome before a trade moves into profit, as well.

How do you get access to a RAW pricing account?

To access the new RAW spreads service clients will need to apply for a RAW pricing account with, however as the noted economist Milton Friedman famously said:

“There is no such thing as free lunch.”

The narrow spreads on the RAW pricing account are offset by a US$7.00 commission per $100k traded.

So if you trade 10 lots or $1.0 million worth of FX you pay $70.00 of commission, on both sides of the trade.

Which jurisdictions will Raw pricing be offered in? will make RAW pricing accounts available to clients in both the USA and Canada, and the new service will also be offered to Australian customers under the City Index brand.

Nasdaq-listed, Stonex Group Inc owns both businesses and brands. are not the only broker to offer raw spreads. Australian-based Pepperstone has its Razor account, which offers narrower spreads and volume-based commission charges, though the broker does not have a US or Canadian operation. traders can further reduce their overall trading expenses if they sign up for the firm’s Active Trader program, under which they can earn rebates of up to $10.00 per million traded.

Is Raw pricing suitable for all traders?

RAW pricing accounts may well make sense for those traders who have an active trading strategy and high trading volumes, but they won’t always be beneficial for other traders.

So it’s important to crunch some numbers before you open one of these accounts.

One way to decide if it’s for you is to look back over a couple of quarters of trading, working out what your average monthly turnover was, and what your expenses were over a monthly time frame, which, will give you a basis on which to compare accounts and charges.

72% of retail investor accounts lose money when trading CFDs with this provider.

How long does the demo account last? does have a demo account and we rate it as one of the best paper trading accounts around. You can compare’s demo account to other paper trading platforms in our demo account comparison.

You can trade for 12 weeks on the demo account. I took it for a test drive to see how easy it was to use so you can quickly decide if you should paper trade with

If you are a budding forex trader and looking for somewhere to paper trade, then’s demo account is a good place to start. You get the same forex trading signals, post trade analytics and market access as you do with the live platform. Demo Account’s demo account lets you trade with £10,000 in virtual funds on over 13,500 markets for 12 weeks.

72% of retail investor accounts lose money when trading CFDs with this provider.

Can you use MT4 with

Yes, along side’s own trading platform, you can execute trades and create strategies through MetaQuotes MT4 and MT5.

When you trade on Metatrader 4 with, you benefit from tight spreads, fast trade executions and unique trading tools. Download and explore automated trading strategies with Expert Advisors from FX Blue. Choose from nine different EAs to complement your trading style, including Sentiment Trader.

  • MT4 markets available: 84+
  • Minimum deposit: £100
  • MT4 account types: CFDs & spread betting
  • Equity overnight financing: 2.5% +/- SONIA
  • Pricing: Shares 0.08%, FTSE 1, GBPUSD 0.9

72% of retail investor accounts lose money when trading CFDs with this provider.

Is available in the USA?

Yes, you can trade with as a US resident in the USA. are owned by NASDAQ-listed broker StoneX and are one of the few US forex brokers to be legally allowed to offer retail traders access to the forex markets., is one of the largest forex brokers in the world and is now owned by NASDAQ listed institutional broker StoneX, has been offering forex trading services to US residents since 2001, providing individuals and institutions with access to the foreign exchange market. Note: The products and services available to you at will depend on your location and on which of its regulated entities holds your account.

A good choice for forex traders in the US who want added value through trading signals and post-trade analysis. It’s worth noting that spread-only & RAW Pricing are the available account types for clients based in the USA. Also, CFDs, Metals, Crypto CFDs & Stocks CFDs are not available for clients based in the USA.

Two of the key features that make stand out above other forex brokers are:

  1. SMARTSignals – proprietary automated forex trading signals
  2. Performance Analytics – post-trade history that helps traders improve their profitability

72% of retail investor accounts lose money when trading CFDs with this provider.

Is legal in the UAE?

Yes it is legal to trade FX on in the UAE as they are regulated by the DFSA and have a local office in Dubai.

You can trade real CFDs in the UAE with has excellent forex trading signals including their Smart Signals feature and Performance Analytics to help UAE traders improve strategy. They offer a robust forex trading platform with lots of forex pairs, 25 commodities, indices and spreads as low as 0.8 for gold trading and 0.3 for crude oil.

For UAE forex traders,’s trading signals, platform and trading performance data make it one of the best platforms for currency trading.

  • DFSA Reference Number: F000542
  • UAE Address: (StoneX): Office 48D Almas Tower Jumeirah Lakes Towers PO Box 125942 Dubai, UAE

72% of retail investor accounts lose money when trading CFDs with this provider. FAQ:

Yes, is legit. is owned by NASDAQ-listed US broker StoneX. In fact, the domain name is one of StoneX’s most valuable assets as it is the driving force behind most of the client acquisition for their forex trading brand.

Yes, is a safe place to trade as in the UK is regulated by the FCA. This means that your funds are protected by the FSCS, should they as a broker default.

There is an inactivity fee of $15 (or local currency equivalent) if you do not use your account for 12 months. Brokers charge this so that if people completely forget about their accounts, the small fee covers the cost of administration and will eventually deplete account funds so the account can be closed with a zero balance.

The minimum initial deposit for a account is £100 of your selected base currency ($100 USD etc.). However, it is important to note than when trading margin FX you take to take into account initial and variation margin to fund ongoing positions.

Yes, is a good trading platform for scalping because of it’s tight FX pricing and also it’s intraday short term Smart Trading Signals.

Yes, you can hedge forex in two ways with You can either hedge an open position on either’s own trading platform or MT4. Or, you can use to hedge physical currency exposure using derivatives. makes money from the difference between the buy and sell prices when you trade (the bid/offer spread) and by charging overnight funding fees on positions.

Yes, you can trade cryptocurrencies on in the UK if you have a professional trading account. Or, if you are based outside the UK, other regions will let you trade crypto as a retail trader.

72% of retail investor accounts lose money when trading CFDs with this provider.

69% of retail investor accounts lose money when trading CFDs with this provider.
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