SVSFX Review

SVSFX Review

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A Detailed SVSFX Review To Discover How SVSFX Conducts Their Business

SVSFX is a Forex and CFD broker that operates under the SVS Securities PLC ownership, which is a company listed on the London Stock Exchange and regulated by the Financial Conduct Authority (FCA) of the UK. SVS Securities PLC launched the SVSFX brokerage platform in 2003 and had ever since been a prominent fixture among both retail and institutional traders from the UK and all over the EU.

Since SVSFX is regulated by the FCA, the broker is a binding member of the Financial Services Compensation Scheme, which is an insurance fund, designed to compensate traders if a broker falls into bankruptcy or is rendered insolvent due to any other financial or legal hassles. The FCA is also a part of the European MiFID, which gives SVSFX the freedom to provide its services to traders from any part of the European continent under the EEA agreement. SVSFX offers a standard brokerage service that does not deviate from the conventional norms adopted by a majority of existing financial brokers from the UK.

SVSFX trading accounts start from a $100 minimum deposit option, which can be deposited using multiple payment options. The broker accepts all types of payments such as credit/debit card transfers, bank wires, SkrillNeteller, and Gate2Shop. The broker provides a detailed description of all the fees on its website, which can offer you an accurate idea about the deposit and withdrawal fee for each type of payment.

SVSFX Product Specifications

SVSFX has a limited set of financial assets that include around 50 FX currency pairs and around 45 Contracts For Differences (CFDs) on the different indices and commodities in the market. SVSFX offers a market maker platform over the traditional MetaTrader 4 interface, which is one of the two SVSFX trading platforms provided by the company. The other SVSFX platform is known as the SVSFX WebTrader, which is an intuitive interface designed to offer trading services to clients that wish to access the markets through web browsers on supported devices. The MT4 is a popular trading platform that is available for almost all popular operating systems for both desktops and mobile devices.

SVSFX mobile MT4 apps are available for iOS, Android, and Windows smartphones and tablets, while desktop users can download the trading platform for Windows and Mac OS. However, if you are a mobile trader that does not have access to a dedicated trading terminal, the SVSFX WebTrader can be viewed on a desktop, as well as mobile platforms, which should offer a convenient platform for trading the markets. The Standard MT4 supports all types of EAs and automated trading. There are no restrictions on strategies, as traders can use hedging, scalping, and high-frequency trading, provided all trading strategies follow all ethical rules imposed by the broker. Clients can utilize a maximum SVSFX leverage of 1:400 on a majority of FX currency pairs, while minor currencies, exotics, and CFDs will have reduced leverage due to the diminished market volatility of these assets. The SVSFX spreads also vary according to the asset, but expect the spreads to start from 2 pips on the majors. Being a market-making broker, SVSFX does not have any ECN account offering, which is a huge shortcoming for professional and institutional traders.

Market makers have a significant amount of conflict with traders, as more often than not, orders are filled by the broker by taking the opposite end a trader’s position. In such a scenario, if the market moves in the trader’s favor, the trader gains, and the broker loses, and the contrary is true for a move in the opposite direction. If you are a small trader trading with a small amount of trading capital, a market maker broker can help you to trade the markets with a moderate amount of risk. On the contrary, if you have a significant sum of money invested in the market, you should certainly look to trade with a broker that does not have any conflict of interest with your trading strategies.

SVSFX Tools For FX Trading

SVSFX promises several tools and educational resources with their trading account, but as far as we can see, the broker only offers a few news articles and some tools to help you with positioning your orders in the market. Of course, the MT4 is an excellent interface that offers advanced charting options, but from a broker’s perspective, traders will find that the tools on offer are rather insignificant when compared to the resources provided by other competing brokers.

SVSFX offers trading tools such as pip calculator, margin calculator, profit calculator, and historical exchange rate tool are some of the most basic online tools that are offered for free by third-party FX websites. Nevertheless, SVSFX does provide an additional feature known as the TradeWorks trading tool, which helps traders to build EAs and automated trading strategies without any prior programming knowledge. The TradeWorks is an excellent option for strategy testing, and to create automated trading accounts without every worrying about the coding errors or spending an enormous amount of time in learning the programming language or tampering with the API.

How Is The Overall Customer Satisfaction Score With SVSFX?

SVSFX provides a live chat feature, an email address, UK hotline numbers, and a web contact form for clients that wish to communicate with the company for any grievances or support. SVSFX regulation with the FCA does ensure that all customers and investors are treated fairly and with the utmost respect. However, the official SVSFX is designed in a Spartan manner, and it is easy for traders to be confused with the lack of information.

Brokers should take the time and invest enough resources into building a great online portal that can provide all account information at a glance. We wouldn’t be surprised if traders routinely contact the customer service department for information on their trading accounts, which is one of the main disadvantages of having an incomplete website. SVSFX does have an excellent amount of reputation in the market and has been operating for more than a decade. Regardless, SVSFX does have some severe disadvantages when compared directly to its immediate competitors, which entice traders to move to other brokers for opening a Forex trading account.

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SVSFX Review