StreamsFX is a Cyprus-based worldwide Forex and CFD broker. Streams Financial Services Ltd. is the company that runs the broker. CySEC has approved and regulated this firm, and it is a member of the Investor Compensation Fund. Streams is a fully automated STP broker with a No Dealing Desk (NDD) execution model.
The broker has recently opted to remove its services from UK citizens under a Temporary Authorization (TPR) framework and is presently subject to Financial Conduct Authority (FCA) legislation’s Controlled Reuse (SRO) regime.
MetaTrader 4 is the sole trading platform offered by the company. MT4 is a market-leading Forex and CFD platform with several tools and features that are essential to a trader’s success. Interactive charts, analytical items, and technical indicators are all included. Another advantage of trading using MT4 is the flexibility to tailor the interface to your own requirements. Currently, millions of traders utilize it all around the world. The following are the key benefits of MT4:
- User-friendly interface suitable for beginners.
- The MQL4 programming language
- 2000 unique indicators
- 3 types of order execution
- 30 technical indicators.
- Instant Execution
- 9 timeframes
The platform is available for Mac OS X, Windows PC, Android (APK), and iPhone (iOS).
The organization offers over 36 trading instruments from global markets that can be accessed from a single trading account. Below are some of the available assets:
- Forex: 28 major and minor currency pairs.
- Indices: 6 major world indices
- Goods: 4 metals and oil, including gold, silver, and crude oil.
Spreads and commissions
Users are offered floating variable spreads starting at 0 pips, although spreads and commissions vary by account type.
- Classic account: starting at 1.6 points with no commission.
- Pro account: from 0 pips with a commission of 4 units on each side.
- ECN from 0 pips with a commission of 3.5 units per side.
Please note that market spreads can widen significantly during market open and close times and prior to key market announcements.
ESMA legislative restrictions impose leverage limitations on the broker. As a result, all account types have a maximum leverage of 1:30. By taking a percentage of a position from a broker, you may trade in considerably higher quantities than you could typically afford.
Leveraged trading can raise both earnings and losses. The business does, however, offer negative balance protection to all clients to safeguard them from losing more money than they put in.
Deposit and withdrawal methods
There are several options for depositing and withdrawing funds from your account:
- Payment cards, including credit cards and debit cards, Visa, Mastercard, and Maestro
- Electronic wallets such as Neteller and Skrill
- Bank transfers
The firm charges a 2.75 percent maintenance fee for card deposits and a 4 percent charge for e-wallets. The cost of a bank transfer varies depending on the bank. There are no withdrawal fees charged by the broker.
Members must request a withdrawal from their personal profile and send it from an email address that has been confirmed. The minimum amount for a wire transfer withdrawal request is 20 EUR or USD. Withdrawals from a bank normally take 3–7 business days, while withdrawals via a credit or debit card might take up to 8 business days.
Members with a verified account can access a demo account for free directly from the client area. Unfortunately, unverified members cannot try out the platform.
The economic calendar keeps you up-to-date with market fundamentals and economic data affecting the markets so you don’t miss a trading opportunity. The broker’s economic calendar is based on TradingView.
This will allow members to view pip value, margin requirements, and get indicative quotes. The broker also provides a forex heat map and a market overview powered by TradingView.
StreamsFX offers three account types with Direct Processing (STP) and No Dealing Desk (NDD) trading models. All accounts have a fast execution speed of just 0.2 seconds, a 50% stop-out level, and a 100% margin call. In addition, all accounts have negative balance protection, and the MT4 platform:
- Classic: This account requires a minimum deposit of $500 or EUR to open. This is the only brokerage account with no commission.
- Pros: The minimum deposit for this premium account is $500/EUR, and the spreads are 0 pips. However, the fees on this account are the highest at $4/EUR on each side.
- ECN: An electronic communications network account provides direct access to other market participants through interbank trading prices. The minimum deposit required for this account is 20,000 USD or EUR, with spreads of 0 pips and a commission of 3.5 USD/EUR on each side.
To open an account, you just need to click “Register Now” on the broker’s website and provide your details, ID, and proof of address. Your account will be verified in just 10 minutes.