FxSign Review 2024

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FxSign is a CFD broker that offers the versatile MetaTrader 5 platform and access to over 120 tradable assets. However, there is a notable lack of transparency in the information the firm provides (and does not), suggesting a lack of trustworthiness. In this FxSign review, we assess the instruments available, the trading platform provided, typical spreads, payment methods, and minimum deposits. We also share the key pros and cons for UK traders.

Our Verdict

FxSign gives the impression of a competitive online brokerage, however our experts found its claims of official licensing and regulation are false, its (mediocre) range of assets cannot be accessed without a substantial level of capital, and many of its extra features are either missing or no longer supported.

Market Access

FxSign offers more than 120 CFD instruments in three different markets: forex, commodities and crypto. However, our team have found that the assets each investor can access vary with the account type. We felt this is unnecessarily restrictive, as many leading brokers offer all their assets through all live accounts.

The full asset range includes:

• Over 35 currency pairs, including majors like EUR/GBP and USD/JPY
• Several popular cryptocurrencies, including Bitcoin, Ethereum and Ripple
• Precious metals, including gold

Overall, FxSign does not offer many instruments, with other CFD brokers reaching the thousands.

FxSign Fees

We were sad to see that FxSign charges high fees for deposits and withdrawals, while spreads and commissions are more reasonable.

All account types have quite competitive spreads, which start from as low as 0.1 pips. However, while most of the accounts have zero commission on trades, the Cent account charges £0.05 per lot.

Most of the account types are swap fee-free, apart from the Cent account, for which positions kept until the following week would incur a swap charge.

But importantly, credit/debit card and PayPal deposit methods charge a hefty deposit fee of 7% and the system fee, respectively. To top it off, all supported withdrawal methods charge a high withdrawal fee (broken down below).

• Credit/Debit Card – 7%
• Cryptocurrency – 5%
• Perfect Money – 2%
• Wire Transfer – £39
• Neteller – 4%
• WebMoney – 2%
• Paypal – 5%
• Skrill – 3%

Accounts

There are four main account types offered by FxSign: Cent, Standard, Professional and Institutional.

Each account offers leverage, allowing traders to increase their profit potential when investing in derivatives. However, this also increases risk and can lead to large losses, so newer traders should be careful.

We have unpacked the key features and benefit of each account below:

Cent

• Swaps: Apply over weeks, Islamic account option available subject to proof
• Commission: £0.05 per lot
• Minimum Deposit: £0.79
• Spreads: From 1.0 pips
• Leverage: Up to 1:500
• Deposit Bonus: No
• Instruments: 30+
• Margin Call: 50%
• Stop Out: 30%

Standard

• Minimum Deposit: £7.90
• Leverage: Up to 1:1000
• Spreads: From 0.5 pips
• Swaps: Free (Islamic)
• Deposit Bonus: 50%
• Commission: Zero
• Instruments: 60+
• Margin Call: 50%
• Stop Out: 30%

Professional

• Minimum Deposit: £790
• Spreads: From 0.2 pips
• Leverage: Up to 1:500
• Swaps: Free (Islamic)
• Deposit Bonus: 50%
• Instruments: 120+
• Commission: Zero
• Margin Call: 50%
• Stop Out: 30%

Institutional

• Minimum Deposit: £3,900
• Spreads: From 0.1 pips
• Leverage: Up to 1:200
• Swaps: Free (Islamic)
• Deposit Bonus: 50%
• Instruments: 120+
• Commission: Zero
• Margin Call: 50%
• Stop Out: 30%

Funding Methods

A fairly substantial eight payment methods are offered by FxSign. This means that almost anyone will be able to find a solution that they are comfortable with to fund and empty their trading accounts. Notably, we were pleased to see a combination of fiat and cryptocurrency methods on offer.

However, the high payment fees is a serious drawback vs alternative brokers.

Wire Transfer

• Deposit Fee: £0
• Withdrawal Fee: £39
• Minimum Deposit: £790
• Minimum Withdrawal: £790
• Maximum Withdrawal: Unlimited

Credit/Debit Card

• Deposit Fee: 7%
• Withdrawal Fee: 7%
• Minimum Deposit: £7.90
• Minimum Withdrawal: £79
• Maximum Withdrawal: Unlimited

PayPal

• Withdrawal Fee: 5%
• Deposit Fee: System Fee
• Minimum Deposit: £7.90
• Minimum Withdrawal: £39
• Maximum Withdrawal: £1,500 per day

Neteller

• Deposit Fee: £0
• Withdrawal Fee: 4%
• Minimum Deposit: £15
• Minimum Withdrawal: £31
• Maximum Withdrawal: Unlimited

Cryptocurrency

• Deposit Fee: £0
• Withdrawal Fee: 5%
• Minimum Deposit: £0.79
• Minimum Withdrawal: £7.90
• Maximum Withdrawal: Unlimited

Skrill

• Deposit Fee: £0
• Withdrawal Fee: 3%
• Minimum Deposit: £0.79
• Minimum Withdrawal: £3.90
• Maximum Withdrawal: Unlimited

WebMoney

• Deposit Fee: £0
• Withdrawal Fee: 2%
• Minimum Deposit: £0.79
• Minimum Withdrawal: £7.90
• Maximum Withdrawal: Unlimited

Perfect Money

• Deposit Fee: £0
• Withdrawal Fee: 2%
• Minimum Deposit: £0.79
• Minimum Withdrawal: £3.90
• Maximum Withdrawal: Unlimited

How To Open An FxSign Account

1. Fill out your details on the online registration form and select Create Account
2. You will have your login details sent to your email address
3. Click the Login button at the top of the FxSign website and fill out your login details to access the client portal
4. From here, you will be able to provide your KYC identity verification documents. This will then allow you to open a live account and deposit funds into your account

UK Regulation

FxSign is supposedly registered by the Saint Vincent and the Grenadines Financial Services Authority (FSA) under registration number 1740LLC. However, the1740LLC registration number does not turn up in the FSA entity search. As such, we believe this broker may be unregulated and it is worrying to see a firm appearing being misleading about its regulatory credentials.

Even disregarding this, the SVG FSA is not a particularly reputable regulator because of its weak rules  compared to the likes of the Financial Conduct Authority of the UK. The FSA is essentially an offshore regulator with quite limited power over its registered companies, so a brand that cannot even achieve FSA licensing should probably be avoided.

The broker also has registered offices in Dubai and Turkey, though there does not seem to be any regulation from the authorities in these locations.

Overall, FxSign does not have strong (or any) regulation, so investors should be sure to understand the risks when trading with this firm.
We recommend avoiding any firm that is unregulated or proposes dubious information.

Trading Platforms

Even though MetaTrader 5 is the only trading platform offered by FxSign, it is one of the most popular online trading platforms, providing investors with a wide range of tools and features suitable for novice and experienced traders alike. Our favourite features include:

• Automated trading via expert advisors (EAs)
• Plugin compatibility with MQL5
• Six Pending Order Types
• 38 Technical Indicators
• An Economic Calendar
• Depth of Market Data
• 44 Graphical Object
• 21 Timeframes

The platform is available on desktop, in-browser and on iOS/Android mobile devices. The platform is also available to download directly from the FxSign website, or from the MetaTrader 5 website. The mobile apps can be found on the Apple App Store or Google Play Store.

We are happy that the broker offers one of the most popular trading platforms available, although the lack of choice is limiting for those with different needs, such as a simpler, more intuitive interface with less advanced features. Many other brokers offer their own, bespoke trading platforms, or other popular solutions like TradingView.

Mobile App

The mobile MetaTrader 5 platform is a powerful application that allows traders to monitor and place trades from anywhere. The platform offers many of the same standard features as the desktop software, allowing investors to chart asset prices, perform analysis and place orders.

However, more advanced features like the creation of expert advisors or the integration of custom plugins are not supported. As a result, we found it best for tracking existing positions and monitoring the markets.

While nothing particularly special, very few firms can stand out in mobile application quality without offering a proprietary solution.

Leverage

Our team were impressed with the leverage offering provided by FxSign. Retail traders can access leverage of up to 1:1000 on the Standard account, though this is reduced to 1:500 on the Cent account.

Professional and institutional clients can invest with rates of 1:500 and 1:200, respectively. Though lower than for retail traders, this trend is normal given the much higher levels of capital in play with these types of clients.

Demo Account

We were pleased to see that FxSign does allow its traders to open demo accounts. These simulator accounts allow investors to practise speculating and analysing instruments using the trading platform without risking their capital. This is a great way to test investing strategies and find out whether the fee structure of the broker suits you.

How To Open An FxSign Demo Account

1. Go to the FxSign website
2. Click on the Open Demo Account button at the top of the page
3. Fill in the relevant details (name, email address, etc.) and click Create Account
4. You will then be sent an email with the details of your demo trading account
5. Download the MetaTrader 5 platform from the FxSign website
6. Open the application and input the FxSign login details sent to you via email
7. You are now logged into your demo account and can begin trading

Bonuses & Promotions

FxSign offers a 50% deposit bonus on most of its trading accounts (as shown in the Account Types section). The bonus essentially increases new traders’ purchasing power on their first deposit, allowing them to invest more and potentially make more profits.

However, when we used FxSign we found that the bonus can only be credited once and withdrawals can only occur after a specified number of trades have been performed. A minimum of six trades must be made after the last deposit, with trades being at a minimum of 50% of the largest trade volume.

We feel that this can be quite restrictive for those without a large deposit, so be sure to carefully assess whether you will be able to benefit from this bonus deal.

Extra Tools & Features

FxSign does offer a few additional tools and features in the Academy portion of its website. Here, you can find a few investing education articles and, sadly, three empty sections that “will be updated soon”. These are slated to cover trading platform features, indicator information and expert advisors.

Market analysis tabs are also available on the FxSign website, though our experts found that these have not been updated since June 2022, which is disappointing.

Overall, the features presented are lacklustre compared to those offered by many leading brokers. Even simple tools like calculators or an economic calendar are not present.

Company Background

FxSign is an online CFD broker that was established in 2015 and originally based in Bulgaria. The broker later opened sub-offices in Europe, the Middle East and most recently a supposedly regulated office in Saint Vincent and the Grenadines.

Customer Service

FxSign offers average customer service with no live chat support. Instead, we found the broker offers an FAQ page on its website, covering information predominantly regarding the deposit bonus, though also providing support pertaining to other services.

The Contact Us page displays multiple methods of contact:

• Support Phone Number: +1 (614) 349 36 86
• Email Address: support@fxsign.com

The broker’s customer service team are available from 05:00 to 15:00 GMT, Monday through Friday in the UK.

Security

The broker claims to have a professional security program in place to protect investors, though once again not much detail on is provided. Features stated include the isolation of client funds, SSL site encryption and the provision of authentic liquidity, though we do not feel that this stands apart from other firms.

The isolation of funds ensures that the broker does not use client funds in its day-to-day business, keeping them stored separately from the firm’s own capital. In effect, this means that users can be paid if they wish to withdraw all their account capital.

SSL encryption protects the privacy of traders when on the broker’s website. FxSign also claims to provide traders with strong order execution, eliminating delays, slippage and requotes in the forex market.

Trading Hours

Trading hours are dependent on the asset being traded. For example, crypto assets can be traded 24/7, while forex can only trade when the markets for those currencies are open.

This is pretty standard, though it is good to see that FxSign does not restrict investing within the opening hours of major markets, which some companies do.

Should You Invest With FxSign?

FxSign offers a powerful trading platform, high leverage rates and a 50% welcome deposit bonus, making it, at face value, a solid potential broker.

However, the falsehood of the regulatory information claimed on the broker’s website brings into question the other services and features it claims to offer, such as professional-grade cybersecurity and 120 assets. Ultimately, we recommend that traders look for a UK broker that is regulated and more transparent about its services.

FAQ

Article Sources

FxSign Website

Compare FxSign with Other Brokers

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1. FP Markets - Established in 2005 in Australia, FP Markets is an ASIC- and CySEC-regulated broker boasting an extensive suite of tradable assets. Its Standard and Raw accounts cater to traders at every level, while it packs a punch in the tooling department, from the MetaTrader suite and intuitive TradingView to actionable trading ideas from Trading Central and AutoChartist.
2. FXPrimus - FXPrimus is an award-winning CySEC-regulated brokerage offering CFD trading on 200+ instruments via the MetaTrader 4, MetaTrader 5 and cTrader platforms. The choice between a competitive commission-free account and two affordable raw spread options make this an accessible broker for anyone seeking forex, stocks, indices and commodities with high leverage.
3. Pepperstone - Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for traders at all levels.

FxSign Feature Comparison

Trading Instruments Comparison

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