Live FX Exchange Review
Many brokers like Live FX Exchange are serving investors and traders. For many of them, focus on a particular asset class and do not give room for diversity in the options they offer. For many people, what they are looking for is some sort of diversity in access to the financial market. Hence, the need for this Live FX Exchange Review arises to open people up to another great choice of broker in the world of trading and investing. From time past, everyone has been in the race of making ends meet at all times and most especially making money. Apart from the basic need of man, every man wants to make extra to ensure they live the kind of life they so desire. And this is the basis for many products and services are advertised, including many brokers of the financial market.
The advanced nature of the recent technology has rewritten the story of trading and investing as many features have been introduced to replace the conventional and traditional features. Trading online has been the new vogue; for some aside jobs and even for others, it takes a full-time dedication from them. Trading has not been an easy task, but over the years, many trading platforms have been trying all they could to make it easier and less technical, even for people that do not have the technical know-how. In pursuit of a better life, many people could put up with the risk attached to trading and investing in the financial market, so most brokers advertised trading as a less risky adventure.
It is very good to write that trading in the financial market is quite risky and that there are many things that need to be gotten right before dabbing into the world of trading and investing. It is for this very reason that this article is compiled to review the authenticity and the less risky nature of the Live FX Exchange. Not many of the brokers out there are very reliable and factual. Many of them promised what is not attainable on their platform and then enchant users to trade and invest in the financial market through them. Reviews of users after a while will reveal the true nature of the platform, and even for this Live FX Exchange, we will examine the stance of people concerning the services they offer. However, it is good to note that out of a few reliable brokerage firms out there is Live FX Exchange. This review will prove that in a while.
Talking about diversity, as mentioned earlier, some brokers only offer access to a set of security in the market. For some, it is the pressure of competition that made them add diverse options to the platform, most especially the crypto option. Only a few allow you to trade Forex, Commodities, Futures, Stocks, Indices, and Cryptocurrencies together.
These varieties much are checked alongside other things before choosing the broker to work with. Among numerous things to check and validate are the security settings in place, the trading terms and conditions, the friendliness of the user interface, and the trading experience promised on the platform. One must also ascertain the service of customer support in solving issues associated with one’s account.
With no further dragging or fluff, we will dive into the review of this wonderful exchange.
An Overview of Live FX Exchange
Live FX Exchange is a broker that was founded in 2019 and has its center of operation in Marshal Isles. The broker offers access to the market and assets, including Stocks, Forex, Cryptos (which seems to be the delight of most people recently), Metals, and commodities. Despite been a new broker in the market, it has made such a massive entry into the market and has caught the attention of most investors and traders. Many people believe that bang entry is caused by the fact that they allow trading of the major asset classes plus the fact that they have integrated on their platform the new advanced technologies and features at inception.
One of the aims of the establishment is to bring a new order to the irregularities in the financial market and to instill confidence in traders, especially the new ones causing them to trade the market without any reluctance and any fright. Also, through the material offered on the website, more traders are hoping to be built.
The terms and conditions of the broker are a very straightforward one which is more like an edge over others. Of course, choosing a broker to work with is not an easy task, but looking into the in-depth information available, as we will do in this article, will show whether Live FX Exchange is a worthy firm to work with.
The awareness of the fact that there are over hundreds if not thousands of brokers out there is the reason why Live FX Exchange is doing all they could to get their platform perfect for traders and investors. They are working with a team of experts in the financial industry to get advice on how many things can be perfected on the platform, as well as adding features to give them an advantage in the financial market.
Asset Coverage on Live FX Exchange
For many brokers or exchanges, there is a limitation as to the coverage of asset class tradable on the platform. Many of them focus on the Forex Market alone while others on stocks and tilting towards the hot cakes of the market; many chose the cryptocurrencies. Only a few of them could find the balance and offer a number of asset classes together without any hitch.
Live FX Exchange falls amidst these few who could offer a number of these securities together for investors and traders to enjoy diversity. Listed below are the lists of the assets covered on the broker’s platform.
Forex is an evergreen market that most brokers will want to allow their clients to trade. Talking about the financial market, the first idea that many novices had about the financial market is Forex; it only takes a while or a piece of extra information to open them to the other options in the market.
So, it is wise for any broker that wants to offer this kind of diversity to add Forex trading to the options if not, such broker is automatically behind in the hot competition. For a broker like Live FX Exchange, they could not afford to leave such an option in high demand out.
Stock is a very sensitive asset class as it is attached to the happening of a physical company, just like forex pairs are controlled by the happenings in a country. Despite this, many still choose to trade it, and it has been one of the legacy assets class in the market like forex. This class of assets is covered on the Live FX Exchange considering the demands and the popularity in the financial market.
This is one of the asset classes in the market with huge volatility, but yet has high demands by people. The most popular asset in this asset class is Gold, while there are other metals like Silver, Copper, and Platinum. It is safe to say that the high demand for this very asset class is the reason why it is incorporated in the Live FX Exchange platform.
In the financial market is an option of the commodities asset class. An example is Crude oil, Natural Gas, and other alike. For many brokers, this is the option they leave out of the options because not many people trade the class. But for Live FX Exchange, this option is added to the list of the asset class covered to increase the diversity of the coverage of the assets on the platform.
This is an asset class that most brokers left out of the list, maybe because of the novelty and the acceptability. However, the turn of events in the past few years has increased its adoption, and thereby it is in high demand in the financial market. For most brokers, what they do is to add the common assets in the crypto asset class, which most often is the market leader, namely, Bitcoin, Ethereum, Ripple, Chainlink, Dogecoin, and few others. Sometimes, the option in this class is between the range of 3-5 tokens. On Live FX Exchange, they offer this asset class and offer up to 6 of the options.
Registering an Account on Live FX Exchange
Registering an account on this broker is very easy and straightforward. It is quite an easy process compared to the process of registering on an average broker out there. Of course, to engage in certain tasks, it will be required to fill the KYC – Know Your customer form, and it is much essential for the account to be fully activated and verified.
The process of registering an account with Live FX Exchange is as follows:
- Go to the registration page by following this link < https://livefx.exchange/registration/>.
- Fill in the basic details required for an instant account setup.
- Accept the terms and conditions of the website. You may want to read that before accepting.
- Go ahead to click registering after filling in the required details and activate the account by verifying the email supplied for registration.
Compared to most other brokers out there, the required details to set up an account on Live FX Exchange is quite basic. Information like the first name, last name, email, contact address, phone number, and other alike are the required details.
In all, there is a policy enacted on the platform to ensure your privacy and the safety of your information. This part will be further discussed in the security section of this review article.
The Term and Conditions of Trading and Usage of Live FX Exchange
For every organization, especially those that have that kind of risk as it is in trading, there are a set of terms and conditions guiding the operations of such an organization as a brokerage firm. Live FX Exchange has a page for the terms and conditions on the website.
It is essential to have gone through these terms before deciding to trade the financial market through them. Few people believe that there are clauses in the terms and conditions of the exchange that are not favorable for clients on the platform. One of these particular clauses is the one that stated that withdrawal from an account on Live FX Exchange is subjected to a condition of trading a particular trading volume.
Account Types on Live FX Exchange
Many brokers offer a different type of account with a different set of conditions and benefits, though not all brokers do that anyway. Some broker has like five or more types of account on their platform with a different set of conditions. But on Live FX Exchange, it is just three account types, namely Standard, Advanced, Expert.
1. Live FX Exchange Standard Account Type
This is the most basic of the types of accounts on the broker. It has a minimum deposit of $500 with a minimum spread of 1.5 pips across all asset classes tradable on the account type. The maximum leverage on the account is up to 1:500, and the bonus attached to the account is about a hundred percent.
The benefits attached to this account include the reception of 3 trading signals on a daily basis and an in-depth analysis of the financial market daily. For holders of this account, they have access to the customer support service 24/5.
2. Live FX Exchange Advanced Account Type
This is the most popular type of account, as stated on the official website of the Live FX Exchange. It is a step higher in demands and benefits to the standard account type. The minimum deposit to run this account is $2,500 and gives you a lower spread of about 1.0 pips with the maximum leverage of the account up to 1:400.
The bonus of the account is up to 50% giving access to daily analysis of the market and a platform that provides signals 25/5. The customer support service also runs for 24/5, but it also has a live chat support feature. With the long-term financial plan, you get a dedicated personal manager for your account plus the weekly session with an analyst of the market.
3. Live FX Exchange Expert Account Type
This is the third of the account types. It has a more added advantage than the two types of the account earlier listed. Amidst this is sessions with an analyst of the market multiple times a week. There is also a personal account manager that is very dedicated attached to your account.
For that account, there are exclusive strategies of trading given and constant market analysis on a daily basis. The leverage on the account is up to 1:200, and the minimum spread for the account is from 0.4 pips. The minimum deposit required to trade on this account is $10,000, and the account also enjoys a bonus of up to 30%.
Live FX Exchange Trading Platform
Beyond anything, one of the things that the users of Live FX Exchange enjoy is the advanced and improved trading platform than all the other brokers around. The broker allows for Web Trader, which is an applet that can be downloaded on one’s computer for the opening and closing of positions without necessarily installing software on your personal computer.
The trading platform of the broker is quite unique. It runs on a MetaTrader 5, which is an updated version of the famous MT4. The app runs on both iOS and Android, which allows trading on the go for most traders. The MT5 is also a responsive trading app that allows rapid and instant market execution of trades at any time. This app gives users access to an interactive market chart and the usage of technical indicators.
The real experience promised by the broker is having tranquil and hitch-free trading and much more a lucrative one. In just a flash, there are many things that can be done at a time, like connecting to the financial market, the analysis, the news and events, and others. The platform uses state-of-the-art technology to facilitate the clients with some amazing features like the multiple chart view, real-time updates of the market, opening and closing positions alongside technical indicators.
The Live FX Exchange Customer Support
This broker offers one of the best support services around. They always ready to attend to users and ensure that they have no issues that can hinder the amazing experience they promised.
The customer support runs 24/5 and can be accessed through a phone and an email. Outside this, there is a chatbox on the website that allows you to connect with a representative of the broker immediately without waiting for an email response. This is quite commendable, and it shows that priority is placed on the clients of the platform.
Safety and Security on Live FX Exchange
While this is a new broker founded around 2019, there has been not many comments and reviews about it on the internet, it is very good that everyone intending to use the broker carries out their own research to ascertain the fact that this broker is a good option for them, however, you can be sure that this article will come handy in making your decision.