Forex Blog

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Forex Brokers Update — May 3rd, 2020

May 3, 2020 by

One new broker became listed on our website this week:

Your FX Broker — an offshore (Cayman Islands) broker with a rather interesting naming choice. It offers $100 minimum accounts with up to 1:100 leverage, low spreads, and a nice set of trading platforms: MT4, MT5, and cTrader.

Your FX Broker

Several other brokers have been updated during the period:

RoboForex added ecoPayz to its deposit/withdrawal methods. changed the names of its account types. Added more operating companies. Added a new account type — MT5 Financial STP.

XGLOBAL Markets lowered commission for ECN accounts. Switched from MT4 to MT5 platform in both demo and live accounts.

WesternFX added PAMM and ECN accounts.

Weltrade no longer accepts Yandex.Money and Privatmoney deposits. Increased margin call level for Crypto accounts from 30% to 40%. Increased stop-out level from 5% to 10% in all other accounts.

Vantage FX no longer supports trading accounts in Japanese yen and New Zealand dollar.

Valutrades ditched WebMoney payments but introduced UnionPay. Reduced commission for trading in the STP Raw ECN account type.

USGFX removed Cent account type but added Standard account type.

WCX is now known as Trade8. Their minimum account size is now just 0.001 BTC. The broker now supports bonuses, but no longer offers free education. Maximum leverage for cryptocurrencies is now 1:25; for indices, it is 1:20. Bonds trading is now supported. The number of supported currency pairs rose from 34 to 42.

If you have any questions or comments regarding any of the latest Forex brokers updates, please feel free to reply using the form below.

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