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100XFX
Rating:
Binary Option Programs Award
Min. Deposit
$500
Min. Investment
N/A
Regulated Broker
No

  1. 100XFX

    100XFX is an offshore broker operated by the company 100XFX Ltd. This broker is regulated in St Vincent and the Grenadines, but does not provide a valid license that would satisfy South African traders.

    With 100XFX, South African users can trade CFDs in forex, commodities, stocks and cryptocurrencies. Read the rest of our review to find out whether 100XFX is yet another scam in the market.

    Account Features

    100XFX offers South African traders four regular account types and one Islamic Account. The 100XFX accounts match all types of traders – from the beginner to the professional. Below you can read all their features and trading conditions:

    Bronze Account

    • Minimum Deposit – $500
    • Type of spreads – Fixed
    • Average spreads (pips) – 2
    • Commision – 0
    • Leverage – 100
    • MetaTrader4 – Yes
    • Mobile App – Yes
    • Direct support with a client – One time only

    Silver Account

    • Minimum Deposit – $2,000
    • Type of spreads – Fixed
    • Average spreads (pips) – 1.5
    • Commision – 0
    • Leverage – 100 (flexible)
    • MetaTrader4 – Yes
    • Mobile App – Yes
    • Direct support with a client – 5

    Gold Account

    • Minimum Deposit – $10,000
    • Type of spreads – Fixed
    • Average spreads (pips) – 1.2
    • Commision – 0
    • Leverage – 100 (flexible)
    • MetaTrader4 – Yes
    • Mobile App – Yes
    • Direct support with a client – 15
    • Risk Management – Yes
    • Advanced Strategies – Yes

    VIP Account

    • Minimum Deposit – $30,000
    • Type of spreads – Fixed
    • Average spreads (pips) – 0.8
    • Commision – 0
    • Leverage – 100 (flexible)
    • MetaTrader4 – Yes
    • Mobile App – Yes
    • Direct support with a client – Unlimited
    • Risk Management – Yes
    • Advanced Strategies – Yes

    100XFX also offers South African users an Islamic account.

    Islamic Account

    • Minimum Deposit – $2,000
    • Type of spreads – Fixed
    • Average spreads (pips) – 2
    • Commision – 0
    • Leverage – 100 (flexible)
    • MetaTrader4 – Yes
    • Mobile App – Yes
    • Direct support with a client – 5
    • Risk Management – Yes

    Trading Software

    100XFX provides the infamous MetaTrader4 platform for South African traders. With the ability to control every trade, different graphs, and technical analysis, South African traders can place a trade anytime when the market is open.

    This platform is popular among beginners, as well as professionals who trade on a daily basis.

    Also, there is a 100XFX mobile app which allows South African traders to log in with the MetaTrader4 login and trade ‘on the go’ anytime they need. To use this option, you only need to have a good internet connection and a mobile phone, tablet or laptop.

    Customer Support Information

    South African users can contact 100XFX in two ways. One of them is through the email @100xfx.com where you can get all the information you are interested in and have a personal account related to you. The second is to send a direct message to 100XFX via a customer support ticket.

    The 100XFX working hours are: Monday to Sunday, 9:00 AM – 8:00 PM

    Payment Methods

    100XFX did not specify the methods that South African traders can use during their deposit. The only information regarding payment methods we found were through different banners and photos that suggested the following options are available: Maestro, Mastercard, Visa, American Express, Qiwi, Yandex, Postpay.

    Surprisingly, 100XFX does not offer direct bank wire transfers. We would advise all South African traders to double check this information directly with 100XFX if they choose to deposit because in many cases the companies can surprise them with hidden fees.

    Conclusion: Is 100XFX a Scam?

    100XFX is a non-regulated broker with suspicious information throughout their entire website, which makes us believe this broker is not trustworthy and South African traders should stay away at all costs. 

    Instead, check out our list of fully tested, reliable and regulated brokers for South African traders.

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