Advanced Forex Review

ADVANCED FOREX claims on its website to be one of the United Kingdom’s largest brokers.

A Quick Overview of our Advanced Forex Review:

• ✔️Who is Advanced Forex?
• ✔️Safe or Scam
• ✔️Pros and Cons
• Leverage
• Accounts
• Market Instruments
• Fees
• Deposit and Withdrawal
• Trading platforms
• How to open an account
• Customer Support
• Education

It is offering investment opportunities ranging from Forex, Cryptocurrencies, stock, indices, bitcoin mining, and a lot more.

Who is Advanced Forex?      

According to research in South Africa, ADVANCED FOREX is a Private Limited with a Shared Capital company incorporated in 2016 and located in Hillsborough, Northern Ireland.

ADVANCED FOREX says that it specializes in the trading of futures and other instruments such as Forex and offers a complete spectrum of services in various jurisdictions. The company promises support to clients 24/7 a day service in over 20 languages, including English, French, Spanish, Italian, German, Danish, Cantonese, Russian and Turkish.

ADVANCED FOREX’s site boasts low commission on their trading platforms, to allow users to make the most profit possible from trading online but there are no details about accounts or commissions available.

Safe or Scam

One of the best benchmarks to measure the safety of a broker like ADVANCED FOREX, is to establish which regulating authorities are watchdogs over its actions.

ADVANCED FOREX is not registered or regulated by any reputable authority. There is no indication at all on its website where and how it is registered at all, with the only available documents referring to New Zealand law.

Pros and Cons

Leverage

Leverage is a facility that enables you to get a much larger exposure to the market you are trading than the amount you deposited to open the trade. Leveraged products, such as forex trading, magnify your potential profit – but also increase your potential loss.

Leverage amount is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that you have $1,000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate to 500:1.

Margin is the amount of collateral to cover any credit risks that may arise during your trading operations. It is expressed as the percentage of position size (e.g. 5% or 1%), and you have to have funds in your trading account to ensure sufficient margin.

For example, on a 1% margin, a position of $1,000,000 will require a deposit of $10,000. The margin level in a trading account needs to be equal to or more than 100% to be able to open new trades, otherwise, your trading account will be fully hedged.

ADVANCED FOREX does not give any indication on its website about a leverage ratio.

Accounts

A forex account at ADVANCED FOREX is a trading account that you will hold and that will work similarly to your bank account, but with the difference that it is primarily issued with the purpose of trading on currencies.

Forex Islamic accounts are also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, which is against the Islamic faith.

Often, the number and type of accounts that a trader can open with a broker company differ depending on the country in which it operates and the regulatory authorities under whose jurisdiction it falls.

ADVANCED FOREX declares that a customer may not have more than one account per user and that multi-accounts found by its support team will be permanently frozen but gives no indication on its website about the type of accounts available.

Market Instruments

The most popular market instruments available from most brokers for trading include:

Forex:

Forex trading describes the currency exchange market which refers to the global, decentralized marketplace where individuals, companies, and financial institutions exchange currencies for one another at floating rates.

Commodities:

Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and play a major role in portfolio diversification and risk management. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of economic uncertainty.

Indices:

Equity, or stock indices, are actual stock market indexes that measure the value of a specific section of a stock market. They can represent a specific stock market or a specific set of the largest companies of a nation.

Precious metals:

The trading of gold and other precious metals, along with crude oil, copper or petroleum, are hard commodities that play a major role in the commodities market and are contract-based tradable goods.

Energy:

The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions, and global economic growth.

ADVANCED FOREX claims to offer the following of the above: Forex, Cryptocurrencies, stock, indices, bitcoin mining, and more.

Fees

Cost depends on different factors, like spread and margins, and ADVANCED FOREX clients may also experience different fee structures according to their country or place of residence.

The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move.

Margin is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your trading account.

ADVANCED FOREX indicates that, at the end of their first trade, customers would be requested to pay up 30% of their total profits upfront and also their annual tax fees would cost 15% per annum and would be accumulated at intervals. No more information is available on the website.

Deposit and Withdrawal

Accounts usually require a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be done in the same ways, but sometimes differ.

In the case of ADVANCED FOREX, some sources state a minimum deposit as $250, while elsewhere it is claimed that the minimum investment is $500, and the maximum is $50 000. Apparently, only students are also eligible for the investment plan of $500-$1 999 while other investors are entitled to every other investment plan starting from $2 000.

Deposits are made via cryptocurrencies and be added to an account as soon as it receives 3 confirmations from the blockchain network. Bitcoin, Ethereum, Bitcoin Cash, Stellar, and Litecoin can be used.

Instant withdrawals of profits can be done directly into a bitcoin wallet or bank account directly after a withdrawal request was made.

Trading platforms

The forex trading platform provided by ADVANCED FOREX to its clients is in essence the software to carry out their trades. Some brokers provide only one, others quite a few platforms.

A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.

According to some sources, users can trade via the Turbo Trader 2, J-Trader, X Trader, Strategy Runner, Ninja Trader, and GS Trader platforms, to allow almost unlimited customization of user experiences on the site.

The company homepage however gives no information about these platforms.

How to open an account

Similarly to a bank, to register a forex trading account with ADVANCED FOREX for the first time, you will be required to go through a basic “know your customer” process, which will allow ADVANCED FOREX to ascertain that your submitted details and ensure the safety of your funds and account details.

With ADVANCED FOREX the process entails filling out a registration form and providing proof of identity to the company, either online or by mail. Upon ADVANCED FOREX review and approval, users may fund their accounts, with a $250 minimum deposit required. Following this, users may download platforms and begin trading as they wish.

Customer Support

Potential traders need to make sure the broker company they chose will offer sufficient support whenever they need it.

ADVANCED FOREX claims to offer 24-hour support in over 20 languages, including English, French, Spanish, Italian, German, Danish, Cantonese, Russian, and Turkish for customers to help ensure their success trading online.

Education

Before starting to trade, potential clients of ADVANCED FOREX should avail themselves of all possible information and trading skills needed to be successful in the world of forex and commodity trading.

ADVANCED FOREX provides hardly any user education for prospective and current users to allow them to choose the platform to best suit their needs and learn to adapt each platform to improve their trading experience.

Research 

To be able to trade with confidence, traders should do as much as possible research about this kind of speculative trading before commencing, but also preceding every daring deal to ensure that they don’t lose money unnecessarily and trade as profitable as possible.

ADVANCED FOREX offers no research options or information on its homepage.

Awards

Being an awarded company instills extra confidence in traders. There is no indication of awards won on its homepage.

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You might also like: ADVANCED FOREX Fees and Spreads

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Conclusion

ADVANCED FOREX offers hardly any information on its website, apart from making a few promises and inviting customers to register and sign up for an account.

There is a FAQ section that only gives limited information about certain aspects.

Disclaimer

ADVANCED FOREX warns potential customers that Forex and CFDs trading always carries a high risk and may not be suitable for all investors.

Before deciding to trade with ADVANCED FOREX, potential traders are advised to carefully consider their investment objectives, financial situation, needs and level of experience before investing money they cannot afford to lose.

ADVANCED FOREX warns that margin trading involves the potential for profit as well as the risk of loss and that movements in the price of foreign exchange and commodities are very unpredictable, hence ADVANCED FOREX cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.

FAQs

TRADING ENVIRONMENT

How many instruments can I trade with ADVANCED FOREX?

You can trade several different instruments with ADVANCED FOREX, which include the following:

• Forex,
• Cryptocurrencies,
• Stock
• Indices
• Bitcoin and a lot more.

Which platforms are supported by ADVANCED FOREX?

ADVANCED FOREX claims to provide the following popular trading platforms:

• Turbo Trader 2,
• J-Trader,
• X Trader,
• Strategy Runner,
• Ninja Trader
• GSTrader

Does ADVANCED FOREX offer leverage?

ADVANCED FOREX gives no information about leverage offered

What spreads can I expect with ADVANCED FOREX?

ADVANCED FOREX offers no details on its homepage, more information can be obtained from the customer support service.

Does ADVANCED FOREX charge commission?

More information on commissions can be obtained from the customer support service.

Is ADVANCED FOREX regulated?

No.

Is ADVANCED FOREX a recommended forex trading broker for experts and beginners?

It is unclear whether ADVANCED FOREX offers a fair trading environment for all types of traders.

What is the overall rating out of 10 for ADVANCED FOREX?

3/10

ACCOUNTS

What is the difference between a demo and a live trading account?

A demo account is offered by broker companies and funded with virtual money that enables a prospective customer to experiment with the company’s trading platforms and its features, before setting up a real account funded with the customer’s actual money.

Does ADVANCED FOREX offer a demo account?

Not indicated.

How long is the demo account valid?

Not indicated.

Which live trading accounts does ADVANCED FOREX offer?

• Not indicated on the website.

What are the available deposit currencies for a live trading account?

Bitcoin, Ethereum, Bitcoin Cash, Stellar, Litecoin.

DEPOSITS AND WITHDRAWALS

What is the minimum deposit for ADVANCED FOREX?

$ 250

How do you make a deposit and withdrawal with ADVANCED FOREX?

ADVANCED FOREX offers cryptocurrencies as deposit and withdrawal methods.

Does ADVANCED FOREX charge withdrawal fees?

Not indicated on the website.

How long does it take to make a withdrawal?

Depending on bank services it may take several days for the money to be available.