I would like to start investing mostly in ETFs, but would like to trade stocks from time to time. I'm thinking about all of these, and I want to ask if Fondex broker fits for me goals in terms of commissions?
Well, if you are talking about all kinds of fees that you need to pay to the broker and you want to keep on trading using ctrader, then this broker is right for you. The broker's fees here are among the best for this trading platform.
I always pay attention to conditions which broker offers and the main for me is the presence of various tools for easen the process of conducting technical analysis, anyone knows does this one offer something like that?
Firstly, Fondex broker offers a trading platform cTrader, which has over 70 technical analysis indicators and depth of market. There are also various copying and automated trading services including trading robots cBots.
I know that some brokers offer the protection from going to negative, by the way, does this broker provide such a function? And are there any restrictions on the size of the deal?
Spreads on Fondex cTrader are floating for all instruments, with prices coming directly from top-tier liquidity providers. You just choose those assets which suit your needs.
I read a lot of positive reviews about this broker, I also really like their trading platform ctrader. I have a question, does the broker allow Algorithmic trading using the FIX protocol?
Basically, algotrading is supported here and bots here are called cbots. You can use them only on cTrader platform actually. Algotrading, using FIX protocol is also maintained.
The spreads start at near zero values, which is very low compared to other brokers that charge significant commissions when providing such spreads. The average spread for the EUR / USD pair is 0.1 pips. This is currently the lowest spread among all reputable brokers I know of. As for other average spreads, it is difficult to mention some statistics here, but I want to say that Fondex offers its clients raw spreads that start at 0.0 pips and charge only $ 2.5 per lot per lot for most trading pairs, and this does Fondex is one of the most profitable and cheapest cTrader brokers. You can also add that trading in indices and cryptocurrencies is commission-free.
Fondex has many convenient and practical trading tools, for example:
1.Smart Stop Out closes the most significant position only partially, restoring the margin to the required levels and, therefore, the protected position, your entry point and trading account.
2. More than 70 preset indicators, lines and shapes.
3.Ability to create your custom indicators using Fondex cTrader Automate or upload already associated users on the cTrader network.
4.Fondex cTrader Advanced Protection allows you to manage your risks effectively.
5.More time frames than standard platforms: You can efficiently perform multiple time frame analysis.
You can find even more exciting information about the available tools on the broker's official website.
First of all, cTrader grants a complete set of tools from Fondex. The platform displays all quotes, prices and asset characteristics like MetaTrader.
However, cTrader performs better as it allows you to create your own watchlists to help the trader keep track of his favourite instruments.
The platform also offers excellent charting and technical analysis capabilities for most beginners analyzing the markets. There are 54 timeframes, 9 chart types, 21 drawing and annotation tools, and 70 indicators by default.
To be verified at Fondex, you only need to upload 2 documents. And I'm pleased about it because I don't want to bother with collecting different certificates.
So the client will need to provide the company with a document identifying his identity. And also a document confirming the place of residence.
In the first case, it can be a passport, ID card, driver's license. And to confirm the residence place, the client will need to provide a bank statement or a utility bill.
As you can see, there is nothing complicated. I was verified in 5 minutes, for example.
Yes, the broker supports this feature. The profitability of copy-trading depends on what strategy you are going to copy. Before doing this, you need to see its return on investment, average pips won per trade, and maximum drawdown. If all of this suits you, then you can have a try.
The functionalities are similar.
But.
You have to try and then make a decision.
Sometimes it all depends on some small details.
But I just like cTrader better, that's all.
Yes, there is automatic trading in Fondex. Moreover, there is a somewhat developed community of programmers who work with C# language. The platform cTrader works on it. So, all cBOts are also written in this language. It's now famous, many programs write in it. So, it is not difficult to find specialists who know it, i guess.
By the way, I will warn you. To trade robots, you need to first download cTrader from the Fondex website. Because there is also a platform in the web version here. But automatic trading is not supported in it. You need the desktop version.
After you've downloaded the platform, I would recommend paying attention to free programs. There are a lot of such programs in the cTrader community.
Well, if you know how to design programs by yourself, you will quickly figure it out. Because it is a convenient constructor for creating Advisors in cTrader. There is a ready-made structure in which you can write your code.
I hope the Fondex review was useful. I tried to explain everything in detail. Sorry if it turned out to be confusing.
