Flatex Review – All About Flatex.De Broker
Let’s take a closer look at his Flatex review to see what’s behind one of the leading German online brokerage firms. You can expect to find a powerful mobile online platform, expert advice, and outstanding service. What’s more, this is not all!
Flatex’s primary purpose is to provide a mind-blowing trading experience, including superb trading conditions, quick order execution, and the safety of capital. It’s time to dive into the more interesting details down below!
|Platforms||Flatex WebFiliale, Trader 2.0, Stock3|
|Instruments||Forex, CFD, Stocks, ETFs, Crypto, Fund|
|EUR/USD Spread||0.04 pips|
Flatex Regulation and Safety of Funds
Whether a financial service like Flatex is legitimate is a very relevant question one can have. After all, you trust Flatex and other brokers with your hard-earned money and savings. It is also a typical question, and we get it a lot.
It is essential to look for brokers that are regulated by at least one top-tier financial authority. So in this fundamental sense, Flatex is by all means a legitimate brokerage.
Flatex is a broker regulated by the Federal Financial Supervisory Authority (BaFin) which is also a top-tier regulator. Its headquarters are in Germany.
Note: The first step in determining a broker’s legitimacy is to check with its regulators. This goes without saying! You should be aware of the most pertinent things to know about regulators and how to interpret them in your own case.
Flatex Trading Instruments
It’s time to take a look at the trading instruments offered by this platform. Flatex broker presents the subsequent trading instruments:
- Warrants, turbos, and certificates
Flatex provides more than 70 currency pairs that comprise minor, major, and exotic FX crosses, 22 indices, 13 commodities, a number of ETFs, and mutual funds.
Most brokers grant all or some of the reflecting instruments for trading. Let’s hop into them!
- Forex: Forex trading, or FX trading, affects the currency exchange market where parties, companies, and financial systems exchange currencies at floating rates.
- Commodities: This is quite similar to the currency exchange markets. Notably, commodity markets provide trading in contract-based tradeable goods.
- Indices: They can represent a set of the largest companies in a nation or they can represent a specific stock market. There are actual stock market indexes that measure the value of a stock market section.
- Precious metals: The trading of gold, silver, and other precious metals is contract-based.
- Energy: The high volatility of energy prices due to political, environmental, and other factors is a standard feature of this product, making it a popular trading option.
Flatex Account Types Available
We should be aware of the different trading accounts. There are three account types offered by a Flatex broker: one account type, a CFD account, and a demo account (risk-free). A $1 minimum deposit is required to open a Flatex Professional trading account.
Note: Be aware that even if the broker has a license, there could be some issues present. If you have any complaints about the broker, reach out to them and ask questions. Also, make sure to always do profound research.
Flatex Trading Software
The forex trading platform lets you trade forex and other asset classes. Those asset classes are CFDs, stocks, indices, precious metals, and crypto.
Some businesses provide their proprietary platform, while others favor well-known software. If there is a preference, the trader should bear in mind what he or she would like to trade.
Flatex presents trading venues relying on what you are going to trade with. These are:
- Flatex WebFiliale
- Flatex Trader 2.0
What’s the major disadvantage of these venues? Well, most of them are only available in German. Because of this, many people would choose another broker over this one.
WebFiliale is innovative and can be used for web, mobile, and desktop. It presents many order types and is a fantastic search engine.
Flatex’s own desktop software is called Flatex trader 2.0. This one is offered by TeleTrader Workstation. This venue is advisable for proficient traders. The platform has diverse features and customizable options. These platforms come with a price.
You will pay €15 a month for Flatex trader 2.0 and €39 for the TeleTrader. The FlatEX trader 2.0 software is solely available in the English language.
Sad to say, this broker does not offer the avant-garde MT4 and MT5 platforms.
Many other legitimate brokers tend to support avant-garde platforms. Some of those are MetaTrader4 and MetaTrder5. The lack of this established trading software is not alarming, however. This is because many legit brokers have their own venues, just like Flatex.
Have you used MetaTrader 5? It is one of the most widespread venues in the forex enterprise. MT5 has all the usual features like a complete set of trade orders that include pending orders, for instance. What’s one of the best things about MetaTrader 5? It is an algorithmic trading option. It lets you run automated sessions with bots.
Likewise, the MT5 platform offers an outstanding Market Depth feature. There’s also a separate accounting of trades, including the netting mode and the hedging.
Deposit and Withdrawal Methods at Flatex
Flatex does not take deposit or withdrawal fees. However, you can only do it via bank wire transfers. The firm does not require a minimum deposit.
You can only hold accounts in EUR which can lead to pricey deposits. Keep in mind that they will charge you a conversion fee if you deposit from a non-EUR account.
Regular banking requirements are solid. These are similar to other brokers, where you can only deposit or withdraw cash from accounts that are in your name. Lastly, you have to wait several days for the money to reach your account.
Note: Some clients stated that altering the reference bank account was overly hard. The requirements that one has to meet to be successful may not be disclosed instantly. Yet, it can lead to a string of rejections. In addition to that, a small number of traders said they were unable to transfer the funds from Flatex. These are some of the things you should know.
Education Available at Flatex
FlatEX is not just a legitimate forex broker. Moreover, it is also an investment corporation that owns a bank. It provides contemporary trade platforms and assists through research and education tools.
The broker truly offers a range of educational means like guides and writing. You should check them out for sure!
If a broker has superb educational tools, that has a number of benefits. It’s not only beneficial to beginner traders. Many experienced traders are happy to see these tools as well because learning never stops!
Customer support is outstanding. However, many users made a complaint about the lack of chat support on the Flatex website. Users claim that it is impossible to contact the operator fast enough. Phone support is excellent and prompt. However, sadly, it is not available on weekends.
Keep in mind that customer service is essential and every legit broker should have it. Why? Well, when it comes to financing, and people’s funds, there’s a certain level of worry. People want to feel safe. They want to know that they can trust the company, by all means. They want the assurance that their funds will be safe and protected.
Note: Brokers who are far from legitimate will ask for your contact details. After that, they will start making calls without your consent. More often than not, it will be about increasing your deposit amount. If you see any sign of this, make sure to report the broker in question.
Flatex Overall Summary
We hope that this Flatex review was valuable to you. This is an authorized broker regulated by BaFin. It is recorded on the stock exchange, has a banking history, and is regulated by a high-grade regulator. You will definitely get an amazing trading experience if you decide to trade with this company.
Sadly, the broker does not provide the prominent MetaTrader4 or MetaTrader5. That may be a drawback for some people. Moreover, revolving around what instrument you want to trade with, you will have to use the software at a monthly price.
FAQs About Flatex Broker
Which Method Can I Use to Withdraw Funds at Flatex?
Only bank transfers are available for deposits and withdrawals at Flatex. This may be bad.
Does Flatex have Negative Balance Protection?
Flatex had informed its clients that the company was propelled to charge a negative interest of 0.4 percent.
Which Platforms Does Flatex Offer?
This platform may not offer MT4 or 5. Yet, there are Flatex WebFiliale, Flatex Trader 2.0, and Stock3.
Is Flatex Regulated?
Flatex is a fully regulated forex broker that provides many innovative tools for traders.
Does Flatex Offer Demo Account?
Yes, Flatex broker does offer a demo account for trading. There are other accounts as well.