Forex FS Overview
Telephone: 1-800-186-364
Regulation: ASIC
Pairs offered: Major pairs, Minor pairs, Exotic pairs
Minimum Deposit: $100
Spreads From: 1.5 PIPs
Max Leverage: 400:1
Markets: Forex, Commodities CFDs, Index CFDs
Deposit Options

Forex FS Broker Review

Forex FS is a forex financial services company which is licensed by the AFSL. Clients get to enjoy a full spread of products and services, a live account, and a demo account. This company prides itself on its regulation, and its customer-centric operations. Forex FS offers a standard account and a pro account, and all forex trading services are provided on the multi-award winning MetaTrader 4 platform. Forex FS was established in 2008 and is considered by clients to be a trustworthy financial services company.
Forex FS provides a range of products and services, notably several dozen forex pairs, index CFDs, and commodity CFDs. Low fees, competitive spreads, and low commissions are some of the many reasons why traders flock to this forex trading brokerage. Full disclosure, adherence to anti-money laundering (AML), know your customer (KYC), and privacy considerations are posted and applicable to all registered clients. This forex broker also provides clients with a full spread of economic resources such as economic indicators, a glossary, FAQs, and an up-to-date economic events calendar.

Overview/ background

 

Forex FS was established in 2008. A decade later, this forex broker is going strong, thanks to its sterling reputation, low fees and commissions, transparency, and customer-centric focus. It is an Australian-based FSC (Financial Services Company). Forex FS is licensed and regulated, courtesy of ASIC (Australian Securities & Investment Commission), with AFSL #323193 and ABN #84-129-217-812.

This forex services company works with clientele to help them achieve their forex trading needs. By providing the necessary trading platform and software, improved service delivery is possible. Mobile functionality, PC, and Mac trading is available, in addition to EA technology (expert advisors). Privacy controls, customer safety and security, and transparency are front and centre with this forex brokerage. All the trading activity on MT4 comes replete with dozens of built-in indicators, 2-way pricing, and almost 5 dozen major, minor, and exotic currency pairs. With leverage as high as 1:400, Forex FS ranks up there with the best of them.

 

Account Types

 

Standard Accounts and Pro Accounts are available to traders at Forex FS. The benefits of each are discussed briefly below:

  • Standard Account

There are no commissions applied to standard accounts, and the minimum deposit required of clients is $100. With standard accounts, clients can enjoy competitive spreads on major currency pairs, and reasonable spreads on minor and exotic pairs. The minimum lot size that can be traded is 0.01, with increments in steps of 0.01. Leverage begins at 1:100 and can be raised as high as 1:400 based upon Forex FS approval. Automatic closure of positions takes place, and a wide range of orders is accepted, including Stop, Market, and Limit orders. Traders can run short positions and long positions with the same currency pair simultaneously. All the trading activity takes place on MetaTrader 4.

  • Pro Account

The Pro Account a.k.a. Professional Account is tailored to experienced clients. The minimum deposit to open this account is $1000 and it gives clients access to institutional spreads. Spreads begin from as low as 0 for all major currencies. The minimum lot size is 0.01, and it increases in increments of 0.01. Like the Standard Account, leverage begins at 1:100 and rises to 1:400 based upon request and approval by Forex FS. Other benefits include stop orders, limit orders, and market orders, no slippage under normal forex market conditions, and automatic closure of forex positions. As with the Standard Account, trading takes place on MetaTrader 4.

 

Trading Platform/ software

 

Forex FS trading is powered by MetaTrader 4 (MT4). This is considered the gold standard in forex trading, owing to the many benefits it provides traders. For starters, MetaTrader 4 is fully compatible with PC, Mac, Android, and iOS devices. This intuitive trading platform is peerless in FX trading, and Forex FS has tailored MT4 to suit its clients’ needs. Full technical analysis is supported, with 30 indicators and charting tools available.

Clients can set their time periods from several minutes to several months and enjoy a full spectrum of trading features and functions. With automated trading activity, clients are freed up to do other things while the trading platform takes care of business activity. Forex FS MT4 is available for Mac, PC, mobile (iPhone, iPad, Android smartphone, tablet et cetera) at the click of a button. Expert Advisors are fully supported with MetaTrader 4, hence the automated trading functionality.

Forex FS also features the PAMM solution for trading currencies. This percent allocation management module allows multiple accounts to be managed simultaneously. As soon as deposits are made, clients will be allocated a percentage of the master account equity to perform their trading activity. The Forex FS MetaTrader 4 PAMM software is ideal for multi-account management. The trading platform and software also comes with forex trading tutorials and platform to tutorials.

 

Deposit options

 

During the registration process, clients have access to multiple deposit options. These include online banking methods such as the National Australia Bank, with multiple currencies supported (SGD, USD, NZD, GBP, EUR, CHF, and AUD). Other payment options include NETELLER, MasterCard, Visa, Skrill, POLi. Each of these payment methods for funding accounts is guaranteed safe and secure, thanks to SSL encryption, account verification, username/password combinations, and firewall protection. All client funds are maintained in segregated accounts with the National Australia Bank (NAB).

 

Markets

 

Multiple markets are currently supported, including gold and silver, and dozens of currency pairs.

The product schedule includes the following forex options:

  • 45 currency pairs including major pairs, minor pairs, and exotic currency pairs. Typical examples of forex pairs include AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, AUD/SGD, AUD/USD, CAD/CHF, CAD/JPY, CAD/SGD, EUR/AUD, EUR/AUD, EUR/JPY, EUR/NOK, EUR/TRY, EUR/USD, GBP/NOK, and others.

Standard commodity CFDs include the following tradable options:

  • WTI (West Texas intermediate), NGAS (natural gas), Brent crude oil, XAGUSD, and XAUUSD. No commissions, variable spreads, and 0.01 – 0.1 trading step sizes are applicable.

Standard index CFDs include:

  • AUS 200, CAC 40, CN, CNA 50, DAX 30, DowJ 30, FTSE 100, HK 50, NAS 100, SG 30, SPX 500 et cetera.

The Pro Account also features forex pairs, commodity CFDs, and index CFDs.

 

Bonuses

 

At the time of writing, our forex reviewers were unable to source any bonuses or promotional offers being showcased at Forex FS. It is worth contacting customer support for further information about upcoming promotional offers which may be available.

  • Customer Support

Clients can get in touch with customer service representatives via email, telephone, and regular mail.

Email[email protected]

Telephone Toll-Free – 1-800-186-364 or International +61-2-9048-3800

Physical Address

International Towers One
Level 23
100 Barangaroo Avenue
BARANGAROO NSW 2000
AUSTRALIA

 

Customer service representatives can be contacted in-office between the hours of 9 AM and 7 PM AEST from Monday through Friday. Customer service representatives are professional, polite, and prompt with their responses. They have in-depth training to deal with technical, trading, account registration, banking and regulatory issues.

 

Safety

 

Safety and security are at the top of the agenda for Forex FS brokerage. This financial services provider is fully licensed and regulated by ASIC (Australian Securities and Investment Commission) with AFSL #323193, and ABN #84-129-217-812. Fully segregated accounts are in place, with client funds entrusted to National Australia Bank, separate from company funds. SSL encryption (secure socket layer), file protection, and maximum client account integrity are assured. This reputable broker is revered for its transparency, low price structure, and wide range of forex trading assets. There is positive client reviews on external review sites, making it a trusted provider of Forex trading services.

 

Ease of Use

 

Forex FS is easy to use and secure. Once clients have completed the registration process, supplied the relevant ID documentation and banking information, they can easily move on to a demo account or a real money account. MT4 is intuitive and packed with trading tools and features such as charts and graphs and other technical analysis functions to make it easy to trade forex online.

 

Final Thoughts

 

Forex FS is a fully licensed and regulated broker offering a range of trading services to clients. These include CFD trading, forex trading, and commodities trading from the comforts of home, or on the go. With segregated accounts, positive client reviews, and MetaTrader 4, clients can enjoy all the benefits provided by this forex broker. As with all brokerages, it is important to understand the inherent risks of trading forex – a volatile financial instrument.

Pros
  • ASIC Regulated
  • 50 Currency Pairs
  • Demo Trading
  • Attentive Customer Support
Cons
  • Limited Deposit Options
  • No Bonuses or Promotions
  • No Stocks Available for Trading
Forex FS Overview
Telephone: 1-800-186-364
Regulation: ASIC
Pairs offered: Major pairs, Minor pairs, Exotic pairs
Minimum Deposit: $100
Spreads From: 1.5 PIPs
Max Leverage: 400:1
Markets: Forex, Commodities CFDs, Index CFDs
Deposit Options
Pros
  • ASIC Regulated
  • 50 Currency Pairs
  • Demo Trading
  • Attentive Customer Support
Cons
  • Limited Deposit Options
  • No Bonuses or Promotions
  • No Stocks Available for Trading