Review and Rating of the FXFlat Broker

FXFlat user-ratings: 200€
8.5/10
8.5 of 10 points 1 reviews
  • Asset varierity - 10/10
    10/10
  • Trading platform - 9.5/10
    9.5/10
  • Support - 8.5/10
    8.5/10
  • Fees - 4.5/10
    4.5/10
  • Deposit/Withdrawal - 10/10
    10/10

Facts about the company:

  • Type: Forex, stocks, and CFD Broker 
  • Regulation: BaFin (Germany)
  • Minimum deposit: 200 € 
  • Demo account: Free
  • Markets: Stocks, options, futures, bonds, ETFs, commodities, currencies, Forex and CFDs
8.5/10
Comments Rating 8.5/10 (1 review)

Pros

  • No portfolio fees
  • CFDs from 0.9 pips
  • Regulated by BaFin
  • Free demo account
  • Several innovative trading platforms with numerous add-ons
  • CFDs on countless underlying tradable at attractive conditions

Cons

  • Demo account only for 30 days

About FXFlat

FXFlat offers its clients interesting contracts of difference in different underlying. In the test we have seen that investors can not only trade stocks but also indices, forex, commodities, and even Bitcoin CFDs. This does not require a lot of effort as there is only one trading account which requires a minimum deposit of 200 Euro. If you want to, you can also start with the demo account without any risk and get to know the trading offers and the broker for 30 days. We have made positive FXFlat experiences in the test especially with the numerous innovative trading platforms and the matching (free) add-ons because, with them, investors can trade on a professional level. Those who need help with this can take advantage of the extensive further training offers and professional tips (for example in weekly changing webinars). We will now show you in detail how our results in the extensive FXFlat Test turned out.

Screenshot of the FXFlat landing page

CFD Trading Offer: 6 Underlyings On Offer

The FXFlat Wertpapierhandelsbank GmbH offers investors six underlying for the contracts for difference. Traders can trade with their registration different stock exchange and over-the-counter derivatives, among them:

  • shares
  • Indices
  • Raw materials
  • Metals
  • Crypto Currencies
  • Interest

The trading offer also includes foreign exchange and futures.

CFDs in the overview

In the FXFlat Test, we have taken a closer look at the individual financial instruments and report on our experiences. Investors can trade selected indices, including DE30, US30, UK100, US500. In addition, there are stock CFDs for EU stocks and US stocks. The selection of Forex CFDs is also impressive, and investors can speculate on major currencies, minor currencies, and selected exotics. The range of Forex CFDs includes a total of more than 30 financial instruments.

Commodity CFDs

The broker’s extensive CFD offer also includes contracts for difference on numerous commodities. For example, traders can trade metals (gold, silver, platinum, and palladium), oils (YMEX WTI Crude Oil, Brent Crude Oil), and softs (coffee, sugar, cocoa).

Bitcoin CFDs

In order to round off the offer and to enable greater diversification in the portfolio, the broker also makes the CFD pair BTC/USD available for trading. However, this remains the only offer on crypto-currencies, so in our view, there is room for improvement. Other CFD brokers are already one step further and are making significantly more contracts for difference available on the price movements of the most important cryptocurrencies.

More CFD types available

The investors find a special feature at FXFlat: CFD-Trading with Euribor, Libor, and Co. We have hardly found such an offer at any other broker. The investors can profit from the interest rate developments and speculate on their development.

Trade futures with FXFLAT

In the test, we not only saw the numerous CFD offers but also the possibility to trade futures at attractive conditions. Investors can trade Eurex Future FDax, Stoxx Europe 50, CME micro contracts as well as CME e-mini contracts with their securities account and thus achieve optimal diversification to the CFDs.

  • Indices: 7+
  • Raw materials: 8+
  • Equities: 10+
  • Crypto currency: 1

Regulation & Deposit Protection

The FXFlat Wertpapierhandelsbank GmbH exists already since 1997 with its head office in Ratingen near Düsseldorf. The financial service provider is independent and received in 1998 the permission by the Federal Financial Supervisory Authority. Thus the investors have a regulatory environment for their activities. Since 2004, the licenses granted have been in line with the EU’s MiFID Directive (then Directive 2004/39/EC, since 2018 Directive 2014/65/EU).

Protection of deposits guaranteed

As the experience from the test shows, the broker pays great attention to the protection of the deposits. The deposits per trader are protected with 20.000 Euro. In addition, there is separate account management, the broker’s funds are kept separate from the client’s funds. For this purpose, the broker also cooperates with licensed and renowned credit institutions in order to guarantee a high degree of security here as well. If you have any questions in this regard, you can contact the customer support team at any time, although they are only available from Monday to Friday.

Security through legitimation

For the protection of investors and due to legal regulations, there is a legitimation obligation when trading with a live account. Investors must prove their identity before the account capitalization, which can be done online, by mail, or at the house bank. Of course, the quickest way is online, so that investors can make their first deposit and take advantage of interesting market opportunities within a few hours of registration.

GermanyEUoutside EU
Online Legitimation*YesYesYes
PostidentYesonly GermanyNo
Legitimation at BankYesYesLimited

  • Regulatory authority: BaFin
  • MIFID II: Yes
  • Deposit insurance: EUR 20,000

Awards: FXFlat Was Already Awarded Several Times

Our experiences in the test were predominantly positive and therefore we were curious whether the trade public and trade magazines also share our assessment. The look at the awards of the broker seems to prove us right because he was honored in the CFD broker survey 2019 of the German credit institute several times with the best marks:

  • Customer Service
  • Fairest CFD broker
  • Trader’s Darling

Furthermore, FXFlat is recommended as a “TOP broker” by the Fuchs-Briefe. In 2018 there were also several times positive evaluations by the German credit institute and almost always full points regarding trading, trading platform, customer service, and mobile trading. €uro am Sonntag also awarded the broker several times with “very good” at the CFD broker test regarding costs, trading platform, and the overall evaluation in 2017. In 2016 FXFlat even managed to emerge as test winner at €uro am Sonntag among 17 CFD providers.

Customer reviews also positive
Not only the professional audience has rewarded the broker with positive feedback in recent years, but also the own traders. This can be seen, for example, in the customer comments on the website. The traders thus share our positive impressions in many categories. A look at the apps confirms that the mobile applications convince with functionality and user-friendliness as well as numerous features. It is also pleasing that there are numerous awards and mentions in German media, as the broker has its origins in Germany. Frequently we have the phenomenon in the CFD broker comparison that there are too many brokers (especially those based abroad) with little or no German awards or reports in the specialist media. Here FXFlat has clearly the nose in front.

CFD Trading Conditions: Trading At Top Conditions

What are the costs for my trading activity and what are the conditions? We have looked up the FXFlat Test and present our results. Account management and the use of the trading platform are free of charge and there is also no inactivity fee. If the investors are inactive for a longer period of time, the credit will be posted back to the reference account after 30 days. This clearly distinguishes the broker’s procedure from that of other providers, where traders often pay high inactivity fees.

Payment transactions free of charge


Another positive aspect is that payment transaction are free of charge. If the traders use the transfer or other service providers for the account capitalization, no additional fees are charged. However, it is possible that additional costs may be incurred by investors due to the conversion of the currency. Since deposits are posted in the account management currency, this is the case, for example, if the trading account is managed in Euro but the deposit is made in USD.

Financing costs at a glance

Not to be forgotten are the financing costs, which do not arise with CFDs on commodities. CFD positions are not subject to additional costs when buying and selling on the same day. If investors trade long and short positions, they are charged on the basis of Libor plus 2.5% p.a. costs.

Selected costs for CFDs

Since the investors at FXFlat can trade countless CFDs and other financial instruments, we have concentrated on selected underlying in the cost overview. Let us first have a look at the indices. Those who want to trade DE30 30 can do so from 0.9 pips. Trading US30 is possible from 1 pip, the same applies to UK100. If traders want to trade US500, this is possible from 0.4 pips.

Conditions for share CFDs

The conditions for the securities differ with regard to the division into the EU and the US. There is no minimum fee, but the opening of EU equity CFDs is possible from 0.09 percent. Closing is realized free of charge. For the opening of the US stock CFDs, the broker charges 4 cents per share.

Conditions for futures

In the test, we also took a closer look at the conditions for the future. The differentiation is based on the number of contracts. To get a better overview, we use the following table for this purpose:

Forex conditions on test

When considering the trading conditions, the costs for foreign exchange trading should not be omitted. They depend on the account model you have chosen. If you choose the standard account and trade Forex CFDs, you have a margin of at least 3.33 percent; the maximum leverage is 1:30. However, there is no obligation to make an additional margin. Those who use the professional account have a margin requirement starting at 0.5 percent and can use higher leverage of up to 1:200. The obligation to make additional contributions depends on the account model selected: with the Professional Classic account type there is an obligation to make additional contributions, but not with the Professional Plus account type.

Forex Spot Conditions

Experience shows that investors can also trade Forex Spot with the broker and therefore we take a closer look at these conditions. The margin requirement is also 0.5 percent and the maximum leverage is 1:200, but there is no obligation to make additional margin payments.

Forex SpotForex CFD
Margin %0.503.33-20.00
Spreadfrom 1.2from 0.9
Trading times08:00 a.m. – 10:00 p.m. CET24h
Delivery
PricingMultilateralBilateral
Negative Balance ProtectionYesYes

Tool for cost transparency

A special tool shows how important transparency and reliability are. In the test, we found a calculation basis for full cost control of trading activity. To do this, traders simply enter the desired platform (MT4 or MT5) and select their underlying asset. Afterward, the trading volume is entered and the possible commissions or spread costs are automatically displayed. The tool is ideal for all investors who want to keep track of the numerous financial instruments and act quickly. During the test, we also tried the cost calculator several times and were completely convinced by the precise results. Especially for prospective traders, who often find the cost calculation difficult, this tool can be a real support in making trading decisions.

  • Max Lever: 1:30
  • DAX Spread: from 0.9 pips
  • Minimum deposit: 200 EUR
  • Mini-contracts: Yes

Accounts & Accounts: Live Account + Corporate Account

As far as the account offer is concerned, FXFlat is much clearer than many other brokers. A live account is offered. Investors can also open a corporate account or use a free demo account on request. With a live account, access is granted after successful registration and the disclosure of personal data. However, anyone wishing to make a deposit must carry out verification. A valid identification document and proof of residential address are required. The minimum deposit for trading activities is 200 euros for a live account.

Traders can also register by email

There is another special feature of the broker: investors can also register by mail. Those who do not wish to register online can fill out the application on the website and send the documents by post. We are not familiar with this procedure from other brokers; they all rely on online registration.

No fees for inactivity

We have already seen in the test that even if traders are not using their trading account for a long time, they don’t have to worry about fees. If the investors have not used the trading account for 30 days, the balance on the account is automatically transferred back to the reference account specified free of charge. This procedure also distinguishes FXFlat clearly from other CFD brokers.

Register company account for free

Of course, corporate clients are also welcome alongside private investors. You can open a corporate account for any type of company that exists worldwide. However, a minimum deposit of 10,000 euros is required. Account management is free of charge and the application is only available in printed form.

  • Beginners: one live account for all
  • Advanced: one live account for all
  • Professional: one live account for all
  • VIP: one live account for all

CFD Trading Platforms: 4 different platforms

In the FXFlat Test we naturally also took a closer look at the trading platforms offered. It is noticeable that investors can choose from four software solutions:

  • MT4
  • MT5
  • AgenaTrader
  • MetaTrader Plus

Let’s take a look at the main advantages of the individual platforms, most of which can be used free of charge. The MT4 has proven itself over the years with many brokers, offering numerous indicators and tools as well as a high level of usability and functionality. Therefore it is also provided free of charge by FXFlat as the most important trading platform. Investors have the following advantages with it:

  • DE30 and US30 can be traded around the clock
  • DE30 trading with Mini CFDs possible
  • Equity CFDs without minimum commission
  • MT Plus is also available free of charge
  • Investors can optionally use the StereoTrader

With StereoTrader, investors have the opportunity to perfect their trading decisions using the MT4. For this purpose, there are extended statistics, retrospective result displays of the trades in the chart, and break-even lines for complex/scaled trades as well as the Scalper Terminal. The latter is especially advantageous for quick profit-taking due to its high functionality.

MT5

In addition to MetaTrader 4, the MT5, a new trading platform generation, is also included in the free offer. Investors can look forward to new order types and improved execution. In addition, there are new indicators, time units, and objects. But that’s not all, because the broker also provides the MetaTrader Plus. Investors can use it free of charge. With the additional package for the analysis and publication of their trading strategies, traders have the opportunity to invest even more effectively in foreign exchange and CFDs and to use the professional additional functions. Various calculators are also available, such as the trade size and risk calculator or the margin calculator.

Agenatrader

With AgenaTrader, investors have even more control and have access to interesting features. These include:

  • Risk Management
  • Automatic trading
  • Strategy Exhibitions
  • Trading Diary
  • Market Scanner

Best of all, investors can use AgenaTrader at no additional cost from the broker and do not even need programming expertise. Those who wish can also test AgenaTrader 30 days free of charge with the demo account.

  • MT4: Yes
  • MT5: Yes
  • iOS: Yeah
  • Android: Yes

Usability Of The Website: Simple Structure, But Informative

When we first looked at the broker’s website, we were admittedly a little disillusioned. Compared to other CFD providers, this site is pure information with a little modern look. But our initial skepticism quickly subsided, as we discovered the advantages of this design. Nothing distracts from the information about the trading offer and the conditions. Instead, the focus is on functional and user-friendly navigation. The design is precisely tailored to this focus, with white and blue dominating. Thus the broker follows its clear guidelines and conveys a serious and trustworthy impression. Of course, we have also tested whether this is also confirmed from a regulatory point of view and present our feedback in an extra category.

High user-friendliness through clear structures

Clearly structured, there is an enormous amount of information for all interested investors, without the page appearing overloaded. In the upper section of the website, investors will find the selection of individual menu items:

  • Products
  • Trading platform
  • Account
  • Training

Everything is designed in such a way that investors can get an idea of the contents of the respective categories and the structure is almost self-explanatory. Therefore, there is also positive feedback in our FXFlat Test.

Usability on the latest level

The website was also adapted to the needs of mobile device users, which is immediately striking. On the right-hand side, for example, there are individual buttons that traders can use to start the live stream or open their account. Those who use the mobile applications with a smartphone or tablet will immediately find access to the service offers through the technically well-designed page layout, even on the small display of the smartphone or tablet. This does not confirm the initially reserved impression on our part, because the broker has indeed given a lot of thought to user-friendliness when designing the website.

Customer Support

From a renowned CFD broker, we expect solid customer support. Let us take a closer look at the result in the test and check if FXFlat meets our requirements. However, there is a time limit. The free hotline can be reached under the telephone number from Monday to Friday 24 hours, but not on weekends. The same applies to the free international hotline, for which another telephone number is available.

Live chat also limited in time

The live chat function is also subject to time restrictions, as we saw in the test. If you want to contact the employees via the chat window at the weekend, you will not be able to connect. Further contact possibilities are in the e-mails to individual departments, via fax, or the contact form on the website.

Callback service possible

If you wish, you can be called back by customer support. To do this, investors can choose the time and date precisely and limit the subject area. For example, should it be about questions about the account or general information about the broker itself? The support staff will contact the investor from Monday to Friday, providing the telephone number and name as well as the desired callback data.

Support available:24/5
Telephone: 0080 000 39 35 28
Adress:service@fxflat.com
Languages: 2

Support by disconnection also possible

FXFlat offers its investors a special service: the connection. With this service, the client advisors can respond even more individually to the problems and requests of the traders. The activation works via a MeetingID, which is communicated by the client advisors either by e-mail or telephone. In this way, investors have the feeling that they are communicating much more personally 1:1 with the employee. For example, screens can be exchanged or errors in the use of the account or the trading platform can be corrected.

  • e-mail: Yes
  • Phone: Yes
  • Live chat: Yes
  • On site: No

Payment Methods: 6 Payment Service Providers To Choose From

If you want to use not only the demo account but also the Select account, you must make a minimum deposit of 200 euros. The following options are available for this:

  • Bank transfer
  • Credit card
  • Skrill
  • Instant bank transfer
  • PayPal
  • iDEAL

However, the minimum deposit only applies to the first account capitalization. Those who make payments to the trading account later only need to deposit at least 50.00 euros. There are a few things to keep in mind when it comes to transaction options. The instant bank transfer has a maximum external limit of 5,000 euros within 72 hours. If you use credit card, Sofortüberweisung or iDEAL, a total of three deposits per month with a maximum limit of 15,000 euros are included free of charge. From the fourth deposit onwards, fees of up to 4.00 percent are charged. However, this charge does not originate from the broker himself, but is based on the further charging of the providers to FXFlat.

Tip: Use FXFlat with PayPal

PayPal is a renowned payment service provider, which is not accepted by all CFD brokers. Therefore we have the tip for investors, if they have a PayPal account, to use the service as well because it is free of charge. Deposits and withdrawals can be made comfortably via the account within a very short time.

Payouts of the winnings

Let’s take a closer look at the test at the handling for the payout of the winnings. To do this, investors must fill out a form to have the amount transferred to the reference account they have deposited. Before each payout, the support team will check that it is correct. In the event of inactivity of at least 30 days, the balance on the account will be automatically transferred to the investor’s reference account.

Additional Offers: Advanced Training Offers And Add-Ons For Trading Platforms

Further training is the be-all and end-all for every successful investor. Therefore, it is recommended to look for a CFD broker who supports you with knowledge transfer and practice. According to our experiences, FXFlat does exactly that: The broker sees the advanced training of his investors as an important component for trading success and would like to make an important contribution to it. Thus, it provides a free demo account as well as an extensive offer of advanced training. There are also regular seminars and webinars, all free of charge. Here, trading professionals, such as André Stagge, share their knowledge on various topics with the participants and show how even inexperienced investors can make progress in trading.

One of the speakers at FXFlat

Videos and recordings of webinars in the libary

If the investors have missed one of the seminars, this is no problem at all. The broker makes all recordings available free of charge in his own library in the form of the YouTube channel. Thus the investors can look at the contents as often as desired and convert the theoretical bases directly with the demo account into the act. The range of online events varies from month to month, so that it never gets boring and interesting topics always come up. In addition, there is a book recommendation from the broker to deepen the trading knowledge even further: the work of the experienced investors Andreas & Christian Weiß.

Economic calendar

FXFlat does not only set a high standard for its further education offers, but also for the extras. The economic calendar offers a free overview of taking place events and their effects. Thus, investors have the possibility to receive trading signals for CFDs, Forex or shares via e-mail or to receive market information and news via the broker-owned newsletter. In this way, investors are always well informed and can use this knowledge advantage for their investments in the market.

Add-ons for trading platforms

The broker not only provides numerous innovative trading platforms, but also the appropriate supplements. Traders can, for example, use the MetaTrader Signal Server to receive fully automated trading signals. Successful traders offer the possibility to copy their decisions and adapt them to their own investment strategy.

FXFlat option trader

Bonus for referrals


Recommendations can pay off and small gifts are known to maintain a friendship. For all traders who are satisfied with the services of the broker, the motto is: recommend and earn money. If a new customer registers on recommendation and carries out the account capitalization, the investors receive 150 euros per initial deposit. But the new customer must deposit between 500 euro and 24,999 euros on its Trading, account. If he pays in from 25,000 euros, it is worthwhile for the recruiting traders so correctly, because for it there are 250 euros. The only condition: The account of the recruited trader must be actively used for at least three months and at least 10 futures or spot forex trades must be executed in the first three months.

  • e-mail: Yes
  • Economic calendar: Yes
  • eBooks: No
  • Videos: Yes
  • Online courses: Yes
  • Demo account: Yes

Conclusion

The broker is based in Ratingen near Düsseldorf and has been successful on the market for several years. The German virtues prevail so that the trading offer is solid but still promising. The same applies to the presentation of the website, which convinces with functionality and user-friendliness. In testing, we have found numerous interesting underlying for trading in contracts for difference: Stocks, foreign exchange, commodities, cryptocurrencies, and more.

This is an optimal way for investors to diversify their portfolio, as forex spots or futures can also be traded. The broker does not need many frills, there is a live account and a demo account. If you are looking for specific account solutions, you won’t find them here, but the limited selection in the test did not bother us. The various trading platforms with their numerous extras were also convincing. Investors can not only trade on the PC or via the web browser, but also via the mobile applications. In addition, there are useful features such as the Forex screener or the MetaTrader Signal Server. The broker also makes a good impression in terms of training, analysis options, and news. We recommend that you make your own impression and use the free demo account for your first trading activities.


Most asked questions:

Is FXFlat a market maker?

FXFlat is indeed a market maker. This is shown, among other things, by the fact that FXFlat always sets certain rates for currency pairs, namely a buy, and a sell rate.

What account types are offered?

For trading with FXFlat, there are different account options to choose from. In general, traders can choose between professional business and a private standard account. Moreover, there are different account types for trading with different platforms.

What payment option is the best?

For making a deposit or withdrawing money, there are different payment options to choose from. We recommend doing payment transfers with PayPal. It is secure, doesn’t charge fees, and is user-friendly.

What trading platforms are available?

Clients of FXFlat can trade with different trading platforms for example the well-known trader platforms MetaTrader 4 and MetaTrader 5. In addition, there is also a WebTrader, MobileTrader, Agenatrader available. Moreover, traders can enjoy different trading add-ons.

One Response

  1. Andre Witzel September 13, 2020

Leave a Reply

User Review
  • Sending
    Asset varierity
  • Sending
    Trading platform
  • Sending
    Support
  • Sending
    Fees
  • Sending
    Deposit/Withdrawal