Forex-Metal provides forex and CFD (contract for difference) trading services online. The broker was established in 2005, in Panama, and is not aligned with any major bank or financial institution.
Trading Conditions and Platform
The broker provides MetaTrader 4 platform – the best platform for forex and CFD trading on the market. MetaTrader 4 offers unlimited charts, real time data feeds, direct communication with support, trading signals and systems, technical indicators and tools, mobile trading access for PDA.
The platform supports quite a number of languages: English, German, French, Russian, Chinese, Japanese, Indonesian and more.
There are more than 50 currency pairs to choose from. Besides forex and CFD, oil, index, gold and silver is available for trading.
Leverage options are listed below:
If account has normally $1-$500 balance, the leverage would be 1:500;
For accounts with average balance $501 - $1000 the leverage is 1:200;
For accounts $1001 - $5,000, the leverage is 1:100;
Above $5,000, the leverage is 1:50;
The broker suggests that there are no extra commissions, executions of orders are instant and traders can access any instrument from a single account.
Forex-Metal allows the use of Expert Advisors.
Connection to their servers are slow at times which increases the risk for requites. Despite that Forex-Metal claims to constantly strive to develop new financial products and provide forex trading and analysis tools to their traders.
Demo account is available for 60 days. You can, however, contact the customer support and ask for extension.
Mini Account can be opened with as little as $50 and open positions with 0.01 standard lot.
The minimum required deposit is $50. Although broker claims to have no limit on minimum deposit, in order to start trading you need at least $50.
Payment methods include: Wide Transfer, Webmoney, Liberty Reserve, Moneybookers, ClickandPay, CashU.
Withdrawal requests are processed within 2 business days via fax or website. In order to submit withdrawal request, you have to close any of the open positions.
There is also another option – free ATM card for deposits $100 and above for new accounts.
Forex-Metal websites offers basic educational tutorials with examples. Economic calendar and daily technical analysis is available.
Support is available via toll free phone numbers, fax and email. Technical support is available 24/7 via email and contact form. You can also use skype in order to get in touch with the broker.