Independent rating of Forex broker WesternFX

About company

WesternFX was established in 2013 with its headquarters in Canada. The company’s operation and workflow are regulated by the Financial Conduct Authority (FSA). WesternFX is a global STP Forex broker, serving both individual and corporate clients worldwide. WesternFX offers its customers a comprehensive range of trading options specializing in CFDs, precious metals, energy, and indices. The broker also provides intermediary services to retail and corporate investors from over 18 countries in Europe, Asia, South Africa, Central America, and the Middle East.

Trading conditions

• broker’s investment portfolio includes currency pairs (majors, minors, and several exotic pairs), gold, silver, natural gas, CFDs on oil, indices, and shares
• new account bonus up to $2,000
• MetaTrader 5 trading platform
• demo account
• 5 types of trading accounts
• PAMM accounts
• no deposit fees
• funds withdrawal within 2–7 days (depending on the method)
• promo campaigns and bonuses
• automated trading
• scalping

Trading platform

WesternFX provides its clients with the most popular trading platform MetaTrader 5. The platform enables traders to set stop-loss orders, open different positions, analyze the forex market, and receive instant notifications. MetaTrader 5 technical analysis tools are especially popular among traders as there are 30 unique indicators available on the platform. On top of that, the platform features interactive charts that allow you to switch between one-minute and daily time frames.

Support service

The customer support service at WesternFX is available round-the-clock 5 days a week and can be reached through Skype, live chat, or a callback form. On the Customer Support page, you can find the company's phone number and email.

Traders’ reviews

Most reviews about WesternFX found on the net are negative. Some traders describe the company as an irresponsible partner and warn against any cooperation with it. On the positive side, customers often mention a wide choice of trading instruments, user-friendly trading platform, and great bonuses.

Advantages:

• regulated broker
• wide selection of trading instruments
• advanced trading platform
• affordable minimum deposit
• bonuses for opening new account
• demo account
• low spreads

Disadvantages:

• offshore broker
• accounts blocked without prior notice
• requotes
• failures in platform operation