General Information & Regulation
Satoshi FX, a trading name of Satoshi FX LLC, presents itself as a company established in 2021 and registered in Saint Vincent and the Grenadines that focuses on cryptocurrency trading. It claims to provide its clients with flexible leverage up to 1:500 and floating spreads from 0.2 pips on the MT5 trading platform, as well as a choice of two different live account types and 24/5 multilingual customer support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that Satoshi FX does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.15/10. Please be aware of the risk.
Market Instruments
Satoshi FX advertises that it mainly offers trading in cryptocurrencies and CFDs.
Account Types
Apart from demo accounts with $10,000 virtual credit, Satoshi FX claims to offer two types of trading accounts - STF MT5 Silver and STF MT5 Gold with minimum initial deposit requirements of $10,000 and $50,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Leverage
The leverage offered by Satoshi FX is flexible between 1:25 and 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
Satoshi FX claims that the spread and commission differ depending on account types. For instance, clients on the STF MT5 Silver account have spread from 0.8 pips with X commission, while the STF MT5 Gold account holders can enjoy the tighter spread from 0.2 pips but have to pay a commission of $7 per lot.
Trading Platform Available
Platforms available for trading at Satoshi FX are MT5 for desktop, Webtrader, iOS and Android. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
Satoshi FX says to offer a wide range of deposit methods including credit cards, bank transfers, Sofortüberweisung, Skrill, and many more. The minimum initial deposit requirement is said to be as high as $10,000. There are no maximum limits on deposits or withdrawals, but note that you can not withdraw more than your account balance.
The brokers website states that withdrawals are processed free of charge. Any bank wire withdrawals under €100 and any other withdrawals amounting to €20 or less will be applied a €10 fee. For bank wire international payments, the minimum withdrawal amount is €50 after the deduction of the €10 basic fee. For SEPA transfers there is a minimum withdrawal amount of €5 after the deduction of the €10 basic fee.
Customer Support
Satoshi FXs customer support can be reached by telephone: +44 20 38075111, +971 4 4322209, email: info@satoshifx.com. You can also follow this broker on social networks such as Telegram, Twitter, Facebook, Instagram and LinkedIn. Company address: Suite 305, Griffith corporate centre, Beachmont, Kingstown, St Vincent and the Grenadines.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
