FxPlayer Review 2022 | Safe Or Scam?

About FxPlayerAssets & MarketsTrading PlatformsFxPlayer TraderUniTraderMetaTrader 4MetaTrader 5Other PlatformsMobile AppFeesLeverageLive Trading AccountsDemo AccountBonusesDeposits & WithdrawalsAdditional FeaturesRegulationSecurityPros Of FxPlayerCons Of FxPlayerTrading HoursCustomer ServiceFxPlayer VerdictAccepted CountriesAlternatives to FxPlayerFAQIs FxPlayer A Regulated Broker?Is FxPlayer A Good Broker?Is FxPlayer A Legitimate A Broker?Are There Restrictions With FxPlayer’s Welcome Bonuses?Does FxPlayer Offer A Demo Account?

FxPlayer Ltd was founded in 2014 and operates as an ECN/STP platform dealing in forex, commodities and indices. The broker is based in the Marshall Islands and is unregulated. Our FxPlayer review delves into the key features of the brokerage such as its fee structure, demo account, trading platforms, and payment options. Find out if becoming an FxPlayer trader is the next step in your investing career.

About FxPlayer

FxPlayer offers a wide selection of trading platforms to meet the needs of beginners through to veteran investors. The brokerage uses tier-one bank pricing with competitive spreads and low commissions. Traders benefit from a transparent pricing model with no dealing desk intervention.

While not regulated by a trusted financial agency, FxPlayer segregates client funds and offers secure deposits and withdrawals, including Bitcoin payments. In addition, new users can get started with welcome bonuses and can take part in trading competitions with cash prizes.

Assets & Markets

FxPlayer offers access to three asset classes:

Forex – Major forex pairs such as EUR/USD, GBP/USD and five others. FxPlayer also offers a number of minor currency pairs as well as niche global FX combinations.
Indices – Customers can trade key indices from the US, UK, Japan, France, Germany, Australia, Italy, Spain and Switzerland. These include the S&P 500, Dow Jones, Nasdaq, FTSE 100, and DAX.
Commodities – Invest in Gold, Silver, Copper, Crude Oil and Brent Oil. Some commodities are spot traded whereas others are offered as future contracts.

Cryptocurrency trading is not available.

Trading Platforms

FxPlayer offers access to six trading platforms:

FxPlayer Trader

The broker’s own bespoke trading platform is currently in the beta stage. It boasts the following features:

Advanced charting
Range of trading indicators
Copy and social trading functionality
Integrated news alerts and market updates



UniTrader is a simplistic and straightforward platform that is designed to improve the ease of trading forex and other assets. Key features include:

Immediate order entry
Up-to-date live market rates
Detailed account management
Integrated SquawkBox providing live news updates
Easy-to-use order management with fast execution and modification of orders


MetaTrader 4

FxPlayer provides access to MT4 which is an industry-leading terminal that is primarily used for forex trading. Key components of the platform include:

Fast trading execution
Extensive historical data
Advanced multi-frame view
Automated stop-out levels and APIs
Data encryption and strong trading transaction security

MetaTrader 4

MetaTrader 5

The MT5 platform is best suited to advanced traders. Key benefits of the platform include:

One-click trading
Over 20-time frames
Economic news alerts
Price headlines and trailing stops
Integrated periodic trading statements
Historical data catalog and strategy tester

MetaTrader 5

Other Platforms

FxPlayer also offers the ActTrader and Currenex platforms. Both platforms offer efficient order execution and advanced functionality aimed at experienced traders. The terminals can be downloaded from the broker’s website after account registration is complete


Note, some online reviews have highlighted technical glitches when executing trades. Make sure you save orders if trying to queue trades.

Mobile App

Nowadays, having access to the financial markets on a mobile device is key. Therefore, we were disappointed to see that FxPlayer doesn’t provide a trading app that clients can download.

But while there is no FxPlayer app for Android (APK or MOD APK) or Apple, traders can still access the broker’s website via the internet app on their mobile device. Despite this, the best way for users to trade will be via PC, using Windows 10 or similar desktop software.


The broker’s variable spreads are in line with the top low-cost trading brokers. Average spreads on the EUR/USD, USD/JPY and GBP/USD are 0.4, 0.3 and 0.5 pips, respectively.

Commission-based costs vary depending on the account type:

Micro – $0.06 per micro lot
Mini – $0.05 per micro lot
Standard – $0.04 per micro lot
Pro – $0.03 per micro lot
Institutional – $0.02 per micro lot
Flex – $0.035 per micro lot

FxPlayer offers no information regarding deposit fees, however they state that withdrawals are likely to incur a cost, dependent on third-party overheads. This is a red flag – it may be expensive to withdraw profits.


FxPlayer gives investors the option to leverage their positions. Traders with the Micro and Mini accounts can access leverage up to 1:100 whereas all other accounts offer rates up to 1:200. Margin allows traders to increase position sizes by borrowing funds, however the risks of losses are also multiplied.

The brokerage doesn’t offer negative balance protection.

Live Trading Accounts

FxPlayer offers six different types of trading accounts with increasing minimum deposits. All accounts offer the same spreads and allow payments online, via e-wallet, Bitcoin or by credit and debit cards. As well as varying minimum starting deposits, the maximum position size and leverage differ between accounts:

Micro – $50 minimum deposit, up to 1 mini lot, 1:100 leverage
Mini – $500 minimum deposit, up to 1 lot, 1:100 leverage
Normal – $5,000 minimum deposit, up to 10 lots, 1:200 leverage
Pro – $20,000 minimum deposit, up to 100 lots, 1:200 leverage
Institutional – $100,000 minimum deposit, up to 100 lots, 1:200 leverage
Flex – $10,000 minimum deposit, no maximum value, 1:200 leverage

Demo Account

FxPlayer also offers a free practice account. The demo account provides customers with $10,000 in virtual funds and simulates real-market conditions. This is a good opportunity to try the broker’s services before investing cash. Users can also test different strategies and get familiar with the firm’s in-house trading platform.

Note, some assets may not be available in the demo trading environment and margin requirements vary.


FxPlayer offers comprehensive welcome bonuses depending on the size of the deposit:

100% on deposits over $100
200% on deposits over $200
300% on deposits over $300
400% on deposits over $500
500% on deposits over $1,000

On the downside, the firm’s sign-up bonuses can only be used for forex trading. They are not eligible for commodities and indices.

FxPlayer also provides special holiday bonuses between 28 December and 01 January each year, as well as leap year offers.

Deposits & Withdrawals

FxPlayer offers a range of deposit and withdrawal methods:

Bank Wire Transfer
E-wallet (including PayPal and Paysafecard)
Debit Cards (including Visa, Visa Electron and Mastercard)
Credit Cards (including American Express and Mastercard)

Withdrawing funds from your FxPlayer account is straightforward. Traders simply need to login and request a withdrawal from the cashier portal. The information provided in the request form will be reviewed by the broker and processed no later than the next business day.  Withdrawal fees will apply depending on the third-party costs incurred by the broker.

Additional Features

FxPlayer offers additional features to entice prospective traders:

Profit calculator
Margin calculator
Economic calendar
Currency converter
Live TV with market insights

Live TV Channels

Unfortunately, the broker doesn’t offer a strong selection of educational resources, such as online classes, webinars or a dedicated YouTube channel. As a result, beginners may prefer to trade with another provider.


FxPlayer is not registered with a reputable financial body such as the UK Financial Conduct Authority (FCA). The broker is based in the Marshall Islands and by law is not required to be regulated. Still, investors should be cautious when trading with brokers who are ungoverned and unregulated, and therefore do not have to follow measures designed to protect retail traders.

With that said, the firm does segregate client funds from its own capital, offering a degree of protection should FxPlayer go bankrupt.


FxPlayer claims to have invested in high-tech encryption technology that reduces the risk of sensitive information being intercepted and mistreated. However, limited details are provided on the security systems used. It is also unclear how any transaction information, login verification data, or identity documents such as passports, are protected.

Pros Of FxPlayer

There are several reasons to trade with FxPlayer:

Demo Account – Traders can practice before risking their own capital
Bonuses & Deals – The broker provides a strong selection of deposit bonuses for new users
Multiple Funding Methods – Clients can fund accounts using popular payment options, plus Bitcoin
Several Trading Platforms – The broker supports six different platforms, including MT4 and MT5

Cons Of FxPlayer

Disadvantages to trading with FxPlayer include:

No Mobile App – FxPlayer doesn’t have its own trading app
Poor Customer Support – The level of customer service provided is well below its competitors
Limited Additional Features – Beginners do not have access to helpful training materials or platform tutorials
Unregulated – FxPlayer is registered in the Marshall Islands and is not regulated by a reliable financial authority

Trading Hours

FxPlayer provides trading and customer support from 10:00 PM Sunday to 10:00 PM GMT on Friday. Asset trading hours vary in line with the opening hours of the respective exchange. Head to the broker’s website for a breakdown.

Customer Service

FxPlayer offers two main routes for customers to get in touch:

Online contact form – information required includes name, email address, subject and message
Direct mail – customers can send physical mail to Trust Company Complex, Ajeltake Road, Majuro, Ajeltake Island, MH96960, Marshall Islands

The level of customer support is considerably lower than competitors. The best platforms offer live chat, telephone helplines, plus assistance via social media. The FxPlayer FAQ portal is also limited.

FxPlayer Verdict

FxPlayer has some positive qualities that will be attractive to new day traders, from multiple platforms and payment methods to a range of welcome deposit bonuses. However, the list of tradable assets is short and the absence of a reliable support team or dedicated mobile app may deter investors. The broker is also unregulated.

See our list of alternative brokers to start trading today.

Accepted Countries

FxPlayer accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Alternatives to FxPlayer

If you are looking for alternatives to FxPlayer we have compiled a list of the top 5 brokers that are similar to FxPlayer below. This list of brokers like FxPlayer is in order of similarity and only includes companies that accept traders from your location.

Infinox – Infinox is a UK-based broker offering MT4 trading with tight spreads.

FXPrimus – Speculate on traditional and emerging financial markets via MT4, MT5 and cTrader. FXPrimus is multi-regulated and offers leverage up to 1:1000 alongside monthly promotions.

TMGM – TMGM is a competitive forex and CFD broker with a wide range of instruments, features and tools provided at low-cost.

FXCC – FXCC is a trustworthy trading broker regulated by the CySEC. The brokerage offers ECN trade executions, leverage up to 1:500 and $0 commissions.

AvaTrade – Leading forex and CFD broker since 2006, regulated in Ireland, Australia, Canada, Japan, Abu Dhabi, and South Africa. AvaTrade offers multiple trading platforms, including MT4/5, Web Trader, Mobile App, Vanilla options and Social Trading. +1250 Financial Instruments, Educational content and multilanguage customer support active 24/7. 20% Welcome bonus available on allowed countries.


Is FxPlayer A Regulated Broker?

No. The broker is registered in the Marshall Islands where there is limited regulatory oversight. This is a real drawback versus the top-rated trading brokers that are licensed by recognized financial bodies.

Is FxPlayer A Good Broker?

FxPlayer offers a good range of deposit and withdrawal options, plus generous welcome bonuses. However, the limited customer support, narrow range of trading products, plus scarce regulatory oversight are concerns. As a result, we would recommend trading with an alternative provider.

Is FxPlayer A Legitimate A Broker?

FxBroker is a legitimate trading firm, however the broker has received negative reviews online and doesn’t offer the same regulatory protections afforded by big trading brands. See our list of alternatives to find the right brokerage for your needs.

Are There Restrictions With FxPlayer’s Welcome Bonuses?

Yes. Bonus funds can only be used to trade forex – promotional capital cannot be applied to commodity and index positions. Also check withdrawal terms and conditions before signing up.

Does FxPlayer Offer A Demo Account?

Yes. FxPlayer allows users to practice trading with $10,000 in virtual funds. The paper trading account can be opened from the broker’s main site.

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