Contents
- 1 Fox Markets Basics
- 2 Our Opinion About Fox Markets
- 3 Regulation
- 4 Client Fund Safety
- 5 Industry Awards
- 6 Fox Markets: Legit Or Scam?
- 7 Trading Assets
- 8 Trading Instruments
- 9 Fox Markets Account Types
- 10 Fox Markets Registration – How To Open A Trading Account
- 11 Fox Markets Registration – How To Verify A Trading Account
- 12 Forex Bonuses
- 13 Fox Markets Payment Methods
- 14 Deposits
- 15 Withdrawals
- 16 Fox Markets Trading Platforms
- 17 Trading Tools
- 18 Trading Hours
- 19 Fox Markets Customer Support
- 20 Our Verdict
- 21 Fox Markets Forex Broker Review FAQ
- 22 Fox Markets Forex Broker Review – Similar Brokers
Fox Markets Basics
| 🏛️ Based in | Limassol, Cyprus |
|---|---|
| ⚖️ Regulation | SVG |
| 💰 Minimum Deposit | $5 (2000 Naira) |
| 💳 Deposit Options | Crypto, VISA, MasterCard, BitPay, FasaPay, Maestro, Neteller, Skrill, UnionPay, WebMoney, Bank Wire |
| 💳 Withdrawal Options | Crypto, VISA, MasterCard, BitPay, FasaPay, Maestro, Neteller, Skrill, UnionPay, WebMoney, Bank Wire |
| 📌Open an account | Start Trading with Fox Markets |
Our Opinion About Fox Markets
Fox Markets is a forex broker that was founded in 2014. The company is based in Saint Vincent and the Grenadines, and it is listed with the local Registrar of International Business Companies.
Fox Markets has two main account types, both of which come with high leverage, fast execution, and low trading costs. They allow traders in Nigeria to open an account with just $5, which is a very small amount, especially compared to the high minimum deposits requested by other forex brokers. The accounts are available on MetaTrader4 and MetaTrader5– two of the best online trading platforms in the industry. And they come with a wide range of assets, including forex, stocks, commodities, indices, and cryptocurrencies.
Fox Markets offers a good range of trading tools, including charts, news feeds, and market analysis. One of the best things about Fox Markets though is that they offer great customer service. Is Fox Markets the best forex broker for you? Find out more about them in our review.
Regulation
Fox Markets is incorporated in Saint Vincent and Grenadines. The broker is incorporated by the Registrar of International Business Companies (IBC). As an SVG broker, they operate with slightly less regulatory oversight than other regulated brokers. However, they still implement strict security and client fund safety protocols. As such, they are a reliable online trading service provider.
Client Fund Safety
Fox Markets holds its client funds in segregated accounts. This is to offer greater client fund protection and to ensure your funds are not used for operational purposes.
Industry Awards
Fox Markets has won 3 industry awards for its online trading services.
Fox Markets: Legit Or Scam?
Fox Markets is a legit broker. They have been offering online trading services for many years, and have a large client base in Nigeria. They are registered with a well-known financial institution and have appropriate client fund protection measures in place. In terms of their products, they offer low-cost account options, good trading conditions, and a nice choice of trading instruments. They also have convenient payment methods and fast withdrawals. In our opinion, they are a legit forex broker.
Trading Assets
Fox Markets has a wide range of trading instruments including forex, indices, commodities, metals, and cryptocurrencies.
Trading Instruments
- Forex: It has forex instruments including many major, minor, and exotic currency pairs.
- Share CFDs: It has share CFDs including Amazon, Apple, eBay, Tesla, Microsoft, Meta, and more.
- Indices: It has indices CFDs including UK, EU, and US indices.
- Commodities: It has trading on metals and energies, including gold.
- Cryptocurrencies: It has Bitcoin. Ethereum, Litecoin, and more.
Fox Markets Account Types
Fox Markets offers two main account types: its Standard Account and its STP Account. It also has a demo account option for new traders and a custom account option for professional traders.
| Type | Spreads | Min. Deposit | Max. Leverage | Commission |
|---|---|---|---|---|
| Standard | From 0.1 pips | $1 | 1:400 | $10 |
| STP | From 0.1 pips | $1 | 1:400 | $5 |
Fox Markets Registration – How To Open A Trading Account
As part of our Fox Markets broker review, we looked at their online registration process. If you live in Nigeria, then you are eligible to open a trading account. Signing up is easy. To get started, you need to visit their website, complete the form, and choose your preferred login details. Next, you need to take a quick trading test. This is so that they can see how much you know about forex trading, and decide if their services are suitable for you. Lastly, you need to complete the KYC process, submit copies of your documents, and choose your account type.
Fox Markets Registration – How To Verify A Trading Account
As part of our Fox Markets broker review, we looked at their account verification process. To open a live trading account you’ll need to send Fox Markets a proof of ID and a proof of address. This is so that they can confirm your identity and verify your online trading account. The verification process is simple. You can send copies of your National ID card, Passport or Driving License. You can also send copies of a utility bill or a bank statement registered in your name. After they have verified your account, you can add funds and start trading.
Forex Bonuses
Fox Markets offers a welcome bonus of 20% up too 5000$. T&Cs Apply.
Fox Markets Payment Methods
As part of our Fox Markets review, we checked which payment options they offer. As they accept different deposit methods, funding a trading account can be quite easy. They also provide a good selection of withdrawal options, for fast transactions, and added convenience.
Deposits
When it comes to deposit methods, Fox Markets offers many convenient options including debit card, credit card, bank transfer, Sofort, Giropay, Skrill, and AdvCash. It also accepts cryptocurrency payments. The deposit time varies depending on which payment method you choose. For example, Skrill deposits are instant, but bank transfer deposits may take several days. There are no deposit fees.
Withdrawals
When it comes to withdrawal methods, Fox Markets offers many convenient options including debit card, credit card, bank transfer, Sofort, Giropay, Skrill, and AdvCash. It also accepts cryptocurrency payments. The withdrawal time varies depending on which payment method you choose. For example, Skrill withdrawals are instant, but bank transfer withdrawals may take several days. There may be a small withdrawal fee.
Fox Markets Trading Platforms
Fox Markets has two of the best online trading platforms available on the market – MetaTrader4 and MetaTrader5. Both come with advanced charting and analysis tools.
MetaTrader4 (MT4) is a great choice for new forex traders. It is a user-friendly platform and comes with many handy, built-in trading tools. You can use it to access many financial markets including the forex, stocks, and indices markets. The MT4 trading platform also has helpful charting tools, 4 order execution types, 30 technical indicators, and 23 analytical objects. You can use these trading tools to work on your market analysis and create your own trading strategies.
MetaTrader5 (MT5) is another great option for beginner trading. It has a simple interface and comes with lots of helpful features. You access to trade a wide range of instruments including forex, shares, and crypto. It very easy to navigate. The MT5 trading platform also has many great features including 6 order execution types, 38 indicators, and 37 analytical objects. As such, it has slightly more functionality than MetaTrader4 and offers you more analysis tools.
Trading Tools
Fox Markets has a copy trading service. Its Fox Master Trader Service allows you to implement the same trading strategy as other traders, using a managed account trading system.
Trading Hours
Their trading hours are in line with standard trading hours. You can open trades whenever the financial markets are open. Trading hours may vary on public holidays.
Fox Markets Customer Support
Fox Markets offers good customer service. You can contact their customer support team by email, phone, and live chat. Their team is generally quite friendly and happy to help.
Our Verdict
Fox Markets is a reputable broker with great trading conditions. It offers low trading costs, high leverage, and fast trade execution. It also offers helpful trading tools and great customer service.
Fox Markets Forex Broker Review FAQ
Fox Markets is a good forex broker. The broker has a simple account structure with a low minimum deposit. They offer a nice selection of trading assets, including forex, stocks, commodities, indices, and cryptocurrencies. They also offer competitive trading conditions, including high leverage, tight spreads, and fast trade execution, enabling you to benefit from a good trading environment. In our opinion, they are a good broker and a great choice for Nigerian traders.
Fox Markets is registered in Saint Vincent and Grenadines. The broker is incorporated by the Registrar of International Business Companies (IBC). As an SVG broker, they operate with slightly less regulatory oversight than other regulated brokers. However, they still implement strict security and client fund safety protocols. As such, they are a reliable provider.
Fox Markets is a good forex broker. They have a great choice of trading accounts. They also have good trading conditions, great trading platforms, and helpful trading tools. However, if you want to consider other options, there are also many other great forex brokers. We recommend looking at HotForex, FXTM, FXPro, FXPrimus, and Instaforex.
Ready to sign up? Register for an online trading account with Fox Markets here.
Fox Markets Forex Broker Review – Similar Brokers
Fox Markets is a great online broker. However, if you want to look at other forex companies, there are also many other online brokers in Nigeria. Here are some similar brokers.
Looking for more options? Take a look at more of our forex broker reviews.