OffsetFX offers a wide range of trading assets through MT4 and MT5 across many devices. It also offers many types of accounts and multiple channels to contact, 24/6 customer service available. However, though offering security measures, it is not regulated.
Pros and Cons
Is OffsetFX Legit?
OffsetFX claims it offers segregated client accounts and encryption to protect their traders transaction safety.
However, OffsetFX is not a regulated broker. Besides, it was registered on January 23, 2024, a newly established company. Currently, it is in a “clientDeleteProhibited” and “clientTransferProhibited” status, which means the domain cannot be deleted or transferred without the registrars permission.
What Can I Trade on OffsetFX?
OffsetFX offers CFDs on 57 forex, 22 consumer goods, 26 indices, 51 ETFs and 800 + stocks.
Account Type
OffsetFX offers four types of accounts: the Standard, Silver, Gold and VIP accounts with the minimum deposit of $1,000, $10,000, $50,000 respectively, which are too higher especially for novices.
Leverage
The maximum leverage offered by OffsetFX varies depending on the account type chosen by the trader.
For the STANDARD account, traders can access leverage of up to 100. The SILVER account provides a higher maximum leverage of up to 150, while the GOLD account offers an even greater leverage of up to 200.
OffsetFX Fees
The STANDARD account features a spread of 2 pips. In contrast, the SILVER account offers a tighter spread of 1.5 pips. The GOLD account boasts the lowest spread of 1 pip. These spreads are also high compared with regulated and regular brokers. Additionally, OffsetFX charge 0 commissions for their accounts.
Besides, it offers different spreads and commissions for their STP and ECN account:
RAW ECN Account Commissions:
PRO ECN Account Commissions:
Trading Platform
OffsetFX offers MT4 and MT5 Platform. When using WebTrader, you'll benefit from 30 indicators, 24 technical analysis tools, 9 time frames, and the one-click trading functionality found in the desktop versions of MT4 and MT5. OffsetFX also supports MT4 and MT5 through both WebTrader and mobile apps. The Offsetfx app is available for iOS and Android.
Deposit and Withdrawal
OffsetFX offers Visa, Mastercard, and UnionPay, wire transfers, Skrill and Neteller e-wallets and Boleto to deposit and withdraw. Boleto is prevalent in Brazil, serves clients in the region.
