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Title

FXFlat Broker Review

Review By: Max Webster Review Updated: October 23, 2019

Address: Wertpapierhandelsbank GmbH Kokkolastr. 1 40882 Ratingen Germany

Phones: 0800 03 93 52 8 0049 2102 100 49 400

Forex ETF CFD

Spread

From 0.8 Pips

Max. Leverage

1:200 Pro

Deposit Protection

€100,000

Min. Deposit

€200

Spread

From 0.8 Pips

Max. Leverage

1:200 Pro

Deposit Protection

€100,000

Min. Deposit

€200

Spread

From 0.8 Pips

Max. Leverage

1:200 Pro

Deposit Protection

€100,000

Min. Deposit

€200

Our Overall Rating

Rating 4.6
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FXFlat has been in business since 1997, and it is part of Wertpapierhandelsbank GmbH. It is a fully licensed business and has been so since 1998 – a year after it was founded. Its overseeing body is the Federal Agency for Financial Services Supervision (BaFin). FXFlat is known for being a reputable broker, and its website demonstrates its legitimacy in a number of ways. Such as by including a link to the European Platform for Online Dispute Resolution in case you encounter problems.

flatfx futures

Commissions & Fees

Rating

When it comes to commissions and fees, the picture at FXFlat is – on the whole – positive. FXFlat does not charge commissions, generally speaking; instead, it charges a proportionate fee based on the difference between the sale price and the buy price. Some of these fees are comparatively quite cheap, such as the 0.8 pips per lot fee which have been recorded for the EUR/USD foreign currency pair. It is worth noting; however, you need to put down €200 euros to get started with trading – so if you make substantial losses as a result of your first few trades, your deposit could be wiped out.

flatfx fees

Platforms & Tools

Rating

FXFlat provides a wide range of trading platforms for customers to make the most of. Meta Trader 4, which is one of the industry’s most widely-used platforms, is available, as is the even better and more updated version – Meta Trader 5. This is still not commonplace in the trading world, so it marks FXFlat out. And if you prefer something even more technical, you can use the Agena Trader platform which is also offered by the broker.

flatfx platforms

Customer Service

Rating

FXFlat provides a wide range of customer service options. On its contact page, you will find a contact form for easy submission of queries, and this can be used 24 hours per day. If you want to chat on the phone, you can call one of several services: there is one number for customers calling from within Germany, and another for customers calling from abroad. These hotlines are open 24 hours a day for five days per week. There is also a live chat function – which could be useful if you want to get answers straight away.

flatfx customer service

Regulatory details

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Final Thoughts

FXFlat provides a range of assets for traders to choose from, and its fee structure is most friendly to the trader. However, its main benefit is the sheer range of trading platforms in providers: from the specialist and technical to mass trading market tools such as Meta Trader, you’ll be sure to find what you need. And with a customer service team on hand and accessible through a range of methods, both digital and analogue, contact is easy.

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