FXlift

General Information

FXlift, a trading name of Notesco Limited, is allegedly a forex and CFD broker registered in Bermuda with registration number 51491 that claims to provide its clients with over 300 tradable financial instruments with flexible leverage up to 1:1000 and variable spreads from 1.7 pips on the MT4 trading platforms, as well as a choice of three different live account types and 24/5 customer support service. However, its services are not available to residents of certain jurisdictions such as the USA, Iran, Cuba, Sudan, Syria, and North Korea.

Here is the home page of this brokers official site:

Regulation

No regulation!!This lack of regulation raises concerns about transparency, security, and investor protection. Unregulated brokers may be more prone to fraudulent practices and offer fewer safeguards for traders. Regulated brokers, on the other hand, adhere to industry standards, follow guidelines for fair trading, and provide investor protection measures. When considering an unregulated broker, traders should carefully assess the risks and potential drawbacks before proceeding. Thorough research and due diligence are crucial to make an informed decision about the level of trustworthiness and reliability of an unregulated forex broker.

Market Instruments

FXlift advertises that it offers access to more than 300 trading instruments from 6 asset classes, covering forex, spot metals, CFDs on stocks and futures, spot indices and commodities.

Forex: As a forex broker, FXlift provides access to a wide range of currency pairs. Traders can speculate on the value of one currency against another, capitalizing on fluctuations in the global forex market.

Spot Metals: FXlift also offers trading in spot metals. This includes precious metals like gold and silver, which are often seen as safe-haven assets and can be a valuable part of a diversified trading portfolio.

Indices: Indices are another type of instrument available for trading at FXlift. These represent the performance of a specific stock market or a segment of it, allowing traders to speculate on the overall direction of a market without having to trade individual stocks.

Commodities: Commodities trading is another option at FXlift. This can include a variety of raw materials and primary agricultural products, such as oil, natural gas, gold, silver, wheat, and coffee.

Futures: Futures contracts are agreements to buy or sell a particular asset at a predetermined price at a specified time in the future. These can be based on a wide range of underlying assets, including commodities, indices, and currencies.

Shares/Equities: FXlift offers access to share trading, allowing traders to speculate on the price movements of individual companies' stocks.

Account Types

Apart from free demo accounts, FXlift claims to offer three types of live trading accounts, namely Standard, Gold and STP/ECN No Commission. However, the broker reveals nothing about the minimum initial deposit requirement to open an account.

The Live Floating - Standard account is designed to provide traders with a solid trading experience. It features an average spread of 2.1 pips, allowing traders to execute trades with relatively competitive pricing. With flexible leverage of up to 1:1000, traders have the option to magnify their positions and potentially enhance their trading outcomes. The account operates with the base currency of USD and a minimum lot size of 0.01. Importantly, there are no commissions charged on trades, and clients can benefit from the availability of a dedicated account manager to assist them during their trading journey. Additionally, the dealing department transaction hotline ensures that traders have access to prompt assistance when needed.

For those seeking more favorable trading conditions, the Live Floating - Gold account offers a narrower average spread of 1.7 pips. This account type provides traders with enhanced pricing, allowing for potentially lower trading costs compared to the Standard account. The flexible leverage of up to 1:1000 provides traders with the option to amplify their trading positions and capitalize on market opportunities. Similar to the Standard account, the Live Floating - Gold account operates with USD as the base currency and a minimum lot size of 0.01. There are no commissions charged on trades, and traders can benefit from a dedicated account manager and access to the dealing department transaction hotline, ensuring that they receive professional support throughout their trading activities.

The STP/ECN No Commission account caters to traders who prioritize competitive spreads and a lower leverage option. With an average spread of 1.8 pips, this account type offers traders tighter pricing compared to the other two accounts. The flexible leverage of up to 1:200 allows for more moderate risk exposure, appealing to traders who prefer a more conservative approach. As with the other account types, the base currency is USD, and the minimum lot size is set at 0.01. There are no commissions charged on trades, and traders have access to a dedicated account manager and the dealing department transaction hotline, providing them with the necessary support to navigate their trading activities effectively.

Leverage

The leverage offered by this broker varies depending on the type of account:

1. LIVE FLOATING - STANDARD: The maximum trading leverage offered is up to 1:1000. This means that for every dollar you have in your trading account, you can control up to 1000 dollars in the market.

2. LIVE FLOATING - GOLD: The maximum trading leverage offered is also up to 1:1000. Similar to the standard account, this leverage allows you to control a larger position in the market relative to the amount of capital you have in your account.

3. STP/ECN NO COMMISSION: The maximum trading leverage offered for this account type is up to 1:200. While the leverage is lower compared to the previous accounts, it still provides the opportunity to amplify your trading positions by a factor of 200.

It's important to note that leverage amplifies both potential profits and losses. Higher leverage can lead to increased risk, as smaller market movements can have a larger impact on your trading account. It is crucial to use leverage responsibly and consider your risk tolerance and trading strategy when determining the appropriate leverage level for your trading activities.

Spreads & Commissions

LIVE FLOATING - STANDARD:

1. Average Spread: The average spread for this account is 2.1 pips. The spread is the difference between the bid price (selling price) and the ask price (buying price) of a currency pair. A higher spread indicates a wider gap between the buying and selling price, which can impact the cost of trading.

2. Commission: There is no commission charged for trades executed in this account type. The broker does not impose an additional fee based on the volume or value of the trades.

   LIVE FLOATING - GOLD:

3. Average Spread: The average spread for this account is 1.7 pips. A lower spread generally indicates a narrower gap between the buying and selling price, potentially reducing trading costs.

4. Commission: Similar to the standard account, there is no commission charged for trades in the gold account. No additional fees are imposed based on trade volume or value.

   STP/ECN NO COMMISSION:

5. Average Spread: The average spread for this account is 1.8 pips. It is slightly higher than the spread offered in the gold account but still relatively competitive.

6. Commission: As indicated in the account name, there are no commissions charged for trades executed in this account type. The broker does not impose any additional fees based on trade volume or value.

It's important to note that spreads can vary depending on market conditions, liquidity, and the specific currency pairs being traded. Lower spreads generally indicate tighter bid-ask spreads, which can be more favorable for traders. The absence of commissions in these account types means that traders only need to consider the spread when calculating their trading costs.

Trading Platform Available

Platforms available for trading at FXlift are MT4 for PC, MT4 for MAC, MT4 iOS Trader for iPhone/iPad, MT4 Android Trader for Smartphone/Tablet, MT4 WebTrader and PMAM. 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.

1. MT4 for PC:

1. Features: The MT4 for PC platform offers a dynamic security system, trading signals, online management of orders, positions, equity, and exposure. It provides real-time quotes, advanced charting capabilities, online streaming news, and activity reports. Traders can access a range of features and tools to facilitate their trading activities on their PC.



2. MT4 for MAC:

1. Features: The MT4 for MAC platform offers the same features as the PC version. It includes a dynamic security system, trading signals, online management of orders, positions, equity, and exposure. Real-time quotes, advanced charting, online streaming news, and activity reports are also available. The MAC version of MT4 caters specifically to MAC users, allowing them to trade seamlessly on their devices.



3. MT4 Android Trader for Smartphone/Tablet:

1. Features: The MT4 Android Trader platform is designed for smartphones and tablets running on the Android operating system. It provides access to all order types, execution modes, technical indicators, and analytical objects. Traders can view real-time quotes, interactive charts, online news, and trading history. The platform supports all execution types and offers a user-friendly interface for convenient trading on Android devices.



4. MT4 iOS Trader for iPhone/iPad:

1. Features: The MT4 iOS Trader platform is developed for iPhone and iPad users. It offers the same features as the other MT4 platforms, including all order types, execution modes, technical indicators, and analytical objects. Real-time quotes, interactive charts, online news, and trading history are accessible. The platform supports all execution types and provides a user-friendly trading experience for iOS devices.

Deposit & Withdrawal

FXlift says to accept deposits via credit/debit cards, Bank Wire, Neteller, Skrill and China Union. The maximum transaction amount is CNY 360,000 per transaction for China Union, while $5,000 per transaction for other methods. All deposits and withdrawals are said to be free. Deposits can take up to 24 hours to be processed depending on the method used, while Bank Wire transfers can take up to 3 working days depending on the bank.

FXlift offers a variety of deposit and withdrawal methods to make account funding convenient for traders:

1. Credit/Debit Card:

1. Deposit: FXlift accepts deposits through credit or debit cards. There are no deposit fees associated with this method.

2. Maximum Transaction Amount: The maximum transaction amount for deposits via credit/debit card is USD 5,000 per transaction.

2. Bank Wire:

1. Deposit/Withdrawal: Traders can deposit or withdraw funds using bank wire transfer. The fees associated with bank wire transactions depend on the corresponding and intermediary banks involved. FXlift does not apply any additional fees for bank wire transactions.

3. Neteller:

1. Deposit: Neteller is a payment service provider accepted by FXlift. Deposits made through Neteller do not incur any deposit fees.

2. Maximum Transaction Amount: The maximum transaction amount for deposits via Neteller is USD 50,000 per transaction.

4. Skrill:

1. Deposit: Skrill is another payment service provider accepted by FXlift. Deposits made through Skrill do not have any deposit fees.

2. Maximum Transaction Amount: The maximum transaction amount for deposits via Skrill is USD 50,000 per transaction.

Customer Support

• Clients have the option to reach out to their dedicated Account Manager for assistance. The Account Manager can provide personalized support and guidance based on the client's specific needs.

• Global Dedicated Customer Service: Clients can call the global dedicated customer service line at +44 (0) 207 416 6747. This allows clients to speak with customer service representatives who can assist with inquiries, provide support, and address any issues.

• Email Support: Clients can send an email to the customer support team at support@fxlift.eu. This provides an additional channel for clients to communicate their concerns and receive assistance.

In the event that a client is not satisfied with the resolution provided by the customer service representatives, the option to file a complaint is available. Clients can log in to the Company's Complaints Portal using their Client Portal credentials and submit a complaint. The Compliance Department will then conduct an investigation into the complaint and provide the client with its findings.

Summary:

FXlift, operated by Notesco Limited, is a forex trading company based in Limassol, Cyprus. The company serves both retail and institutional investors, offering access to a wide range of tradable instruments across six asset classes. With a diverse selection of over 300 instruments, clients can trade in forex, spot metals, indices, commodities, futures, and shares/equities. However, it's important to note that FXlift does not provide services to residents of certain jurisdictions, including the USA, Iran, Cuba, Sudan, Syria, and North Korea.

Pros:

1. Wide range of market instruments: FXlift offers a diverse selection of over 300 instruments across six asset classes, allowing traders to diversify their portfolios and take advantage of various trading opportunities.

2. High leverage options: The broker provides flexible leverage options, with maximum leverage of up to 1:1000 for the Live Floating - Standard and Live Floating - Gold accounts. This can amplify potential trading positions.

3. Multiple trading platforms: FXlift supports the popular MetaTrader 4 (MT4) platform, which is available for PC, MAC, Android, and iOS devices. Traders can access a range of features, tools, and charts to facilitate their trading activities.

4. Dedicated account managers: Clients have access to dedicated account managers who can provide personalized support and guidance based on individual trading needs.

5. No commissions: FXlift does not charge commissions on trades for the Live Floating - Standard, Live Floating - Gold, and STP/ECN No Commission accounts. This can help reduce trading costs.

Cons:

1. Lack of regulation: FXlift is not regulated by any recognized financial authority. While the company claims regulatory status with the FCA (UK) and ASIC (Australia), these claims have been verified as clone firms. Traders should exercise caution and consider the associated risks.

2. Limited availability: FXlift restricts its services in certain jurisdictions, including the USA and several countries affected by international sanctions.

It is important for traders to conduct thorough research and due diligence before engaging with any broker, including FXlift. Evaluating the broker's reputation, regulatory status, and customer feedback is crucial in making an informed decision.

FAQs:

Q: Is FXlift regulated by any financial authority？

A: No, FXlift is not regulated by any recognized financial authority. Traders should exercise caution and consider the associated risks.

Q: What trading platforms does FXlift offer？

A: FXlift offers the MetaTrader 4 (MT4) trading platform for PC, MAC, Android, and iOS devices, providing access to a range of features, tools, and charts.

Q: Can I trade with high leverage on FXlift？

A: Yes, FXlift offers flexible leverage options, with maximum leverage of up to 1:1000 for the Live Floating - Standard and Live Floating - Gold accounts.

Q: Are there commissions charged on trades with FXlift？

A: No, FXlift does not charge commissions on trades for the Live Floating - Standard, Live Floating - Gold, and STP/ECN No Commission accounts.

Q: Where can I contact customer support for FXlift？

A: You can reach FXlift's customer support by contacting your dedicated Account Manager, calling the global dedicated customer service line at +44 (0) 207 416 6747, or sending an email to support@fxlift.eu.