Review Highlights
| 💰 Maximum Payout | Client Gets Difficulty |
| 💰 Leverage | 1:400 |
| ⚖️ Regulation | Unregulated /Clone |
| 🗺️ Headquarters | Unknown |
| 💳 Minimum Deposit | $100 |
| 🛍️ Review Rating | 1/5 |
| 🛍️ Broker Type | Forex |
| 🖥️ Platforms | Web |
| 📊 Spread | 3 |
Rating 1
FXNice Review a Scam broker Your Fund is in Risk
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Account Types
There are three different accounts available, each one having their own requirements and features, so lets briefly look at what each one offers.
Mini Account:
The mini account has a minimum deposit requirement of $100, it must be in a base currency of USD. It has spread starting from 3 pips and uses the ECN execution type. Due to being an ECN account, there is an added commission of $6 per lot traded, the leverage on the account can go up to 1:500 and the trade sizes start from 0.01 lots. There is no maximum number of open trades and the account is swap-free. Scalping and hedging are allowed and the margin call level is set between 30% and 40%.
The Premium account increases the deposit requirements up to $5,000, it must be in a base currency of USD. It has spread starting from 1 pip and uses the ECN execution type. While it does use ECN execution, there is no added commission on this account, the leverage on the account can go up to 1:500 and the trade sizes start from 0.01 lots. There is no maximum number of open trades and the account has swaps, however, a swap-free version is also available. Scalping and hedging are allowed and the margin call level is set between 30% and 40%.
Platforms
Leverage
Trade Sizes
Trading Costs
The only account with an added commission is the Mini account which has an added commission of $6 per lot traded which is in line with the average we see across the industry. It is strange that this account has the commission, as it is also the account with the highest starting spread. The other two accounts just use a spread based system.
There are also swap fees on the Standard and Premium accounts which are interest charges for holding trades overnight, swap-free versions of these accounts are also available.
Assets
The assets at FxNice have been broken down into four different categories, unfortunately, FxNice does not give us a breakdown of what they are, instead of each section simply gives an overview of what each category is, we have tried to find as much as we can and have outlined them below.
Forex
FxNice does not give exact examples of the currency pairs available, they simply state that currencies from the US, Japan, UK, Euro Zone, Canada, Australia, Switzerland, and New Zealand are tradable with them.
Metals
From what we can see Aluminium, Iridium, Copper, Nickle, Palladium, Platinum, Gold and Silver are all the available metals for trading.
Energy
FxNice gives some examples of energies that are traded, but they are just basic examples, it does not state if any of them are also tradable with them, the only ones mentioned that are tradable are Brent Crude Oil and WTI Crude Oil.
Crypto
Unfortunately, there aren’t any specific examples given, but we can see that cryptocurrencies are available to trade at FxNice.
Spreads
The spreads depend on the account that you use, the Mini account has spread starting from 3 pips, the Standard account has spread starting from 2 pips and the Premium account has spreads starting from 1 pip.
The spreads are available which means they move with the markets when there is a lot of volatility they will be seen higher, the different instruments also have different starting spreads and the figures mentioned above ar ethe minimums.
Minimum Deposit
Deposit Methods & Costs
Withdrawal Methods & Costs
All accounts must be fully verified before being able to withdraw, it is not actually clear exactly which methods are available to withdraw but we would assume they are the same which are Bank Wire Transfer, Credit / Debit Card (Both Vias and MasterCard), Neteller, Bitcoin, and Skrill.
Just like with the deposits, there is no indication of any fees, so it is unknown if there are any, but check with your bank or card issuer to see if they will add any fees of their own.
Withdrawal Processing & Wait Time
A withdrawal funded to your credit card may take up to 3 working days.
Bonuses & Promotions
Educational & Trading Tools
Customer Service
Mumbai:(Fake Address)(They all are calling from UK virtual number from +44)
Address:319,NCP, Mind Space,Malad West,Mumbai 400 064
Email:info@fxnice.com
Phone:(+91) 90290 10161
Address:71-75 Shelton Street, Covent Garden, London WC 2H9 JQ
Phone:+44 702 401 0699
Address: La Estancia,Final Del,Torre Consortium 1,BoulevardMorazan,Tegucigalpa,Honduras CA
Email:info@fxnice.com
Phone:(+91) 90290 10161
Demo Account
Demo accounts are great because they allow potential clients to test out the markets and trading conditions while also allowing existing clients to test out new strategies without risking any of their capital.
Countries Accepted
Conclusion
There was a little confusion when we looked at the three accounts on offer,the one account with the added commission was also the account with the highest spread,we are assuming this is due to it not having any swap charges.There isn’t a huge difference between the accounts apart from the spreads.
The overall trading conditions seem ok, but we do not know what assets are available, there are only a few examples instead of a full specification or breakdown, so it can be hard to judge if the assets you like to trade will be available. Information about deposits and withdrawals is there, but when it comes to withdrawals we are not fully aware of which methods are available or what the costs are. Should you like the look of FxNice, just be wary about any potential deposit and withdrawal fees.
We hope you like this review if you did be sure to check out some of the other reviews so you can find the broker that is right for you.
