FastBrokers Review

MIN. DEPOSIT $2,500
Up to 50:1
No BONUS
0 Users (0 votes)
Odds0
Services0
Support0

Overview

Company Information Fast Brokers is an online Forex trading broker that is the property of Fast Trading Services LLC. The company was created in 2004, and their online platform was… more

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Details

Broker FastBrokers
Website URL http://fastbrokers.com/en_us/index.php
Founded 2005
Headquarters Glendale, California, United States of America
Support Number (818) 545-9955; +1.818.545.9955
Support Email support@fastbrokers.com
Support Types Phone, Live Chat, E-mail
Languages English
Minimum 1st Deposit $2,500
Minimum Trade Amount 0.01 lots
Maximum Trade Amount 100 lots
Bonus No
Payout Up to 50:1
Free Demo Account Yes
Regulated Yes
Regulation Commodity Futures Trading Commission (CFTC)
Account Types Standard Trading, Sharia
Deposit Methods Debit Card, Wire Transfer
Withdrawal Methods Debit Card, Wire Transfer
Types of Assets Forex, Futures
Account Currency USD, EUR, GBP
US Traders Allowed Yes
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

Fast Brokers is an online Forex trading broker that is the property of Fast Trading Services LLC. The company was created in 2004, and their online platform was launched in 2006. This brokerage is headquartered in Glendale, California in the US. As the name suggests the main goal of the company is to provide fast market access and great order execution speeds. With over ten years of experience in the Forex trading industry, Fast Brokers provides excellent trading instruments and features. With professional liquidity models and excellent educational platform, Fast Brokers is suitable for both beginner and professional traders. Their main client base is from the US of course, and by the looks of it, they are not looking to expand to other countries. The company is fully regulated by the Commodity Futures Trading Commission and the National Futures Association in the US. Let’s see what trading conditions does the platform offer.

 

Trading Information

 

Fast Brokers has four types of Forex accounts you can choose. The first is their Individual Account which has a relatively small deposit requirement of $2000. Next is their Joint account with a $5000 minimum deposit requirement. The Corporate accounts are the next choice with a hefty $25 000 minimum deposit. And finally, there’s the retirement account with a minimum deposit requirement of $10 000. The minimum account trade size is 1000 lots. The trading leverage is set to 50:1, but it can be changed upon request. The number of currency pair offered by Fast Brokers is over 46. The spreads are variable and can go as low as 0 pips for their professional ECN account offers. The typical spread for most of the accounts is from 0.3 to 1.1 pips depending on which one you choose. Scalping and hedging are allowed, and swap-free versions of the accounts are available. Expert advisors are also available, and automated trading is supported. One-click trading, OCO orders, trailing stop orders, trading from API and pending orders are also available.

 

Trading Platforms

 

Fast Brokers have two choices for trading platforms. The first one is not a surprise, and it’s called the Metatrader4 (MT4). This is the most popular platform amongst traders and has been around for over a decade. It has tons of features like trading from charts and signals. This platform is suitable for both beginner and experienced traders. It works on almost every device and just needs a download and installation. The MT4 works on mobile devices too, so people who like to trade on the go will pleasantly surprised. Dedicated apps are available in both the Google Play Store and Apple Store. The only thing that’s missing is the Web Trader variant. The next platform offered by Fast Brokers is their own Pathfinder Trader. The company claims that it’s more versatile and customizable than the MT4. Other features of the Pathfinder platform are the low latency, advanced order entry, alert scripting, custom indicators and professional charting. Multiple orders and brackets are supported, and you can easily trade from the scalping book.

 

Security and Customer Services

 

Security at Fast Brokers is ensured by the SSL encryption they’ve implemented on their website. It protects your personal data and makes it available only to the company’s employees. The segregated account option is also a welcome addition. It means that your funds will be deposited in top tier banks and kept separate from the company’s money. Customer support is also excellent. There are plenty of ways to contact the company’s representatives. You can call them on the phone, send an email, fill a web form or use their Live Chat feature. Alternatively, there is also the postal address of the company’s headquarters in California. Social media profiles on Facebook, Twitter, Youtube and Linkedin are also available. The company has made the effort to provide their clients with essential information about trading. You can find all sorts of educational materials on their website. The language support is a bit of a letdown with English being the only available language. There is also no mention of the customer support’s coverage, but we can safely assume that it’s 24/5.

 

Deposits and Withdraws

 

Deposit and withdrawal methods offered by Fast Brokers are the usual credit/debit cards and Bank Wire. Paypal is also available and is one of the fastest. There is not a lot of information about their deposit and withdrawal processing times. The Support page for deposits and withdrawals doesn’t provide any info about charges or anything else for that matter. The only available information is about the third party funds which are not accepted. You can only deposit and withdraw funds from accounts that have the same name as the trading account. Fast Brokers are in the middle of re-designing their website at the time of writing this review so that you could expect some changes shortly regarding helpful information.

 

Deposit Bonus and Loyalty Programs

 

As one of the older brokerages in the US, Fast Brokers doesn’t offer any flashy promotions or deposit bonuses. Their policy is to provide stellar trading experience to their clients and advertise their services using other marketing techniques. Again, they are re-designing their website currently, so you can expect some bonus offer when it’s finished. For now, if you’re looking for first deposit bonuses or some competitions Fast Brokers is not the right choice.

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