Categories

August 23, 2019

FXGlory Broker Service Review, an online Forex and Commodity broker with MT4 trading platform.

Trade Forex and Commodities with 1:3000 Leverage, Deposit Bonus, 0.1 pips spread and no commissions.

FXGlory Broker Service Review, an online Forex and Commodity broker with MT4 trading platform.

Visit FXGlory Official Website

Who is FXGlory?

FXGlory is an online Forex and CFD broker with its head office in Dubai.

The broker’s service was founded in 2011, and provides solution for online investment for investors all over the world.

FXGlory gains the popularity from its simple and extraordinary trading conditions, comparing to other companies.

By opening a trading account with FXGlory, you can invest in Forex pairs, Oils and Precious Metals from 1 USD of minimum deposit amount.

Signup with FXGlory online for free

FXGlory Company Information

FxGlory was established in the Department of Economic Development of the U.A.E. in 2011.

The broker has its head office in Dubai, and several international branches in SVG, Malaysia, Cyprus, United Kingdom and Switzerland to provide flexible and constant service for traders from all over the world.

Note that the service conditions may be different depending on the jurisdiction you are in.

Due to its growing popularity, FXGlory now is among the largest and most respected companies in the world of the Forex market.

FXGlory’s service is regulated by multiple financial authorities internationally, while insuring that all clients’ funds are kept in separate bank accounts from the company properties.

Clients’ funds are secure in Bank and can only be used to repay them.

FXGlory also ensures protection of clients’ data with 256-bit SSL encryption across the entire website.

The HTTPS data encryption protocol is used to secure data transfers between the client and the server.

For any inquiries about the company, FXGlory’s multilingual support is available for 24/7 from the Official Website.

Visit FXGlory Official Website

Trading Conditions of FXGlory

FXGlory strives to offer its clients the best prices with no delays, slippage or re-quotes in the Forex market, using both instant execution and market execution.

By opening an account with FXGlory, you can invest in Forex, Oils and Precious Metals (Gold, silver, platinum and palladium).

The available trading platforms are MT4 (MetaTrader4) Windows, Android, iOS and web-trader.

The download links for the MT4 platforms can be found in FXGlory Official Website.

With FXGlory, you can start trading online from 1 USD of minimum deposit.

You can transfer your funds to FXGlory with various methods with zero fees. The available deposit and withdrawal methods include American Express, EPay, Bank Transfer, Mastercard, Neteller, PayPal, Payza, Perfect Money, Skrill, STICPAY, VISA, WebMoney and Zelle.

FXGlory also accepts deposit and withdrawal of funds with Cryptocurrency: Bitcoin, Ethereum, Litecoin and Ripple.

Trading Account Types of FXGlory

With FXGlory, all account types are swap free Islamic account.

Open FXGlory Real or Demo Account

The standard account type gets upgraded by having having higher account balance as specified in the table below.

Account Types Standard Premium VIP CIP
Required Deposit Amount* 1 USD 1,000 USD 5,000 USD 50,000 USD
Available Maximum Leverage 1:3000 1:2000 1:300 1:50
Minimum Spread* 2 pips 2 pips 0.7 pips 0.1 pips

The spread is fixed and there is no extra commission. Thus the spread (the difference between bid and ask prices) is the only cost you need to cover while day trading.

*The available base currency is only USD.

As all account types are Swap-free (Islamic) accounts, thus they imply no swap or rollover interest on overnight positions.

You may open only one account with FXGlory, and all financial instruments are available for trading including Forex, Oils and Precious Metals (Gold, silver, platinum and palladium).

Visit FXGlory Official Website

Other Trading Conditions

FXGlory offers 1:3000 Forex leverage.

While the leverage is one of the highest available in the Forex market, FXGlory also supports NBP (Negative Balance Protection) to ensures that its clients never lose more than they deposit.

Available trading volume is from 0.01 (micro lot) to 1000 lots.

You can have up to 600 positions at the same time.

With FXGlory, you can trade 24 hours a day from 22:00 GMT on Sunday through 22:00 GMT on Friday.

FXGlory Online Registration Page

FXGlory MT4 provided with NDD and STP execution

Using the FXGlory’s STP platform, a client can pass an order, which is directly sent at a lower or higher rate (depending on whether it is an ask or bid offer) to the chosen liquidity provider.

As such, the order after the price adjustment will be executed by FXGlory.

Most clients prefer to work with FXGlory as it usually means an NDD or No Dealing Desk system.

This allows the client to enjoy more of FXGlory MT4’s transparency.

In addition, going through FXGlory MT4 means faster and better fills for the client trades, obtained directly because of the competitive market offers and bids from the preferred liquidity provider.

The client also enjoys anonymity as there is the absence of a Dealing Desk which usually monitors client order transactions.

Instead, orders are executed automatically using the market network.

Visit FXGlory Official Website

FXGlory MT4 (MetaTrader4) trading platforms

FXGlory provides MT4 as the base platform where you can access financial markets and trade online.

You can download and install FXGlory MT4 from FXGlory Official Website.

FXGlory MT4 is compatible with various types of devices, thus you can trade anytime and anywhere.

Here are the 4 main types of MT4 trading platform.

  1. FXGlory MT4 Windows and MAC
    FXGlory MT4 Windows and MAC is a progressive trading platfrom among the best in the field of internet trading and enables to receive timely news, analyse graphs and performing prompt transactions in the financial markets of the world.
  2. FXGlory MT4 Multi Terminal
    FXGlory MT4 Multi Terminal is meant for simultaneously operating several trading accounts. Using this terminal will make trading more comfortable and save time on switching accounts.
  3. FXGlory MT4 Mobile Apps
    FXGlory MT4 Mobile Apps make it possible to operate your trading account on your cellphone from any location, open and close deals and conduct in-depth analysis of graphs. The perfect choice for mobile traders.
  4. FXGlory MT4 for Windows Smartphone
    FXGlory MT4 for Windows Smartphone is a multi-functional trading terminal based on Windows Mobile, which enables trading in financial markets, conducting in-depth analysis of graphs, using indicators, keeping posted up on all events and constant access to financial news, all that on your smartphone.

Download FXGlory MT4 platforms

Online CFD Trading (Forex, Oils and Precious Metals) with FXGlory

A Contract for Difference (CFD) is an agreement to buy or sell a financial instrument (e.g. share or commodity) at a later date based on the price movement.

Your profit or loss is calculated by the difference between the price at which you buy the CFD and the price at which you sell that CFD.

At FXGlory, investors can trade a wide range of CFDs on Forex, Oils and Precious Metals using their friendly, innovative MT4 trading platform.

You can access and gain exposure to the underlying instruments and enjoy all the benefits of CFD trading from a single MT4 account.

Open FXGlory Real or Demo Account

1. Why you should trade CFDs with FXGlory?

FXGlory MT4 offers various financial instruments in a form of CFDs, and there are many advantages for traders to invest in FXGlory’s CFD products.

  1. Invest in cost-effective CFD instruments
  2. No need to physically Buy or Sell the underlying instrument
  3. Leading MT4 trading platform for fast and reliable execution
  4. Trade CFDs on low fixed spreads with no hidden fees
  5. Low margin requirement – as high as 1:3000 leverage
  6. 24-hour customer support in multi-language

Find out more about FXGlory’s CFD Products

2. How Online CFD Trading works?

Opening CFD Positions

If you decide to take a contract on US Light Crude Oil CL 1!, you will receive the following price from their system: $94.89 – $94.95.

If you wish to take a long position of CL 1! at the current ask price, your position will then be opened at the price of 94.95 which will require a margin of $750.

A commission of $12 / lot round turn will be charged when opening the position.

Closing CFD Positions

If you decide to close your US Light Crude Oil CL 1! position after the market rise, and the prevailing bid price is now at $99.05, you will accordingly make a profit of $4’100.00.

Calculating profits / loss of CFD positions

It is important to keep updated on the CFD instruments you are trading.

CFD prices can remain stable for considerable periods but are also subject to volatility in cases of important events such as natural disasters or fluctuations in demand/supply.

Opening level $94.95
Closing level $99.05
Difference +4.1
Formula (Close Price – Open Price)/Tick Size*Tick Value) = P&L
Calculation ($99.05-$94.95)/0.01*10= $4’100)

To help you with risk management in these situations, we encourage you to use stop loss orders and ensure that your trades are closed at your requested level in all market conditions.

Please note that trading CFDs carries considerable risk and is not suitable for all traders. You may lose a considerable amount or all of your investment. Please see their complete Risk Disclosure for further information.

Visit FXGlory Official Website

Swap Points for overnight positions on FXGlory MT4

FXGlory is one of the most competitive brokers with regards to swap rates in the Forex market.

Their overnight swaps are Institutional Grade and are on par with Tier 1 liquidity providers.

A “Swap” or a “Rollover” is the interest paid or earned for extending a position at the end of the day (4:59pm ET) without settling.

The swap rate converts net currency interest rates, which are given as a percentage, into a cash return for the position.

Based on the interest differential, a trader purchasing a currency with the higher of the two interest rates will be credited and vice versa.

Swap rates can potentially generate extra profit or loss to one’s trade.

FXGlory applies a three-day swap on Wednesday evenings (4:59pm EST) to account for weekend rollovers.

Open FXGlory Real or Demo Account

Example of Swap Points / Charges

The following is an example that illustrates how to calculate the swaps for EUR/AUD.

An investor has a short 500,000 EUR/AUD at a rate of 1.2500.

The EUR interest rate is 0.75%, or a daily rate of 0.002%, and the AUD is 3% or a daily rate of 0.0083%.

Calculation Formula is “Position Size * Pip Value * Swap Pip Rate * AUD Conversion Rate”

The interest on the EUR is (500,000 * 0.002%) 10.00 EUR; the AUD costs (625,000 * 0.0083%) 51.875 AUD.

Converting the EUR to AUD, 1*1.2500 = AUD 12.5.

The net AUD amount is 12.5 – 51.875 = – 39.375, which is divided by the 500,000 position.

On a short EUR/AUD position, the rollover generates 0.00007875, or 7.875 pips.

Contact FXGlory Support Team

Leverage Restrictions for higher account balance

FXGlory’s extraordinary Forex leverage 1:3000 with NBP (Negative Balance Protection) is one great advantage of using FXGlory’s trading account.

But please note that the leverage can be restricted for accounts with large amount of equity.

Please refer to the table below to understand how account balances can affect the maximum leverage for FXGlory’s trading accounts.

Balance in USD Maximum leverage
1 – 999 1:3000
1000 – 1999 1:2000
2000 – 2999 1:1000
3000 – 4999 1:500
5000 – 9999 1:400
10000 – 29999 1:200
Above 30000 1:100

Visit FXGlory Official Website

Bonus Promotions of FXGlory

FXGlory runs various bonus promotions for all of its clients.

The main deposit bonus is 50% Deposit Bonus which you can get on every deposit.

The bonus can be used as your extra trading capital (margin) and can also be withdrawn by meeting their volume requirement.

Participate in the promotion, then you will get the Deposit Bonus instantly up to $1,000.

For EA (Expert Adviser) users on MT4 platform. FXGlory offers Free-of-charge remote VPS server.

By making a deposit of $1,000 you can have the VPS for free for 3 months.

Check out the latest Promotions of FXGlory

Free VPS (Virtual Private Server) by FXGlory

With FXGlory’s new VPS solution, clients can benefit from FXGlory’s automated trading software and take advantage of reduced latency.

The VPS solution can make the difference between making a profit on a trade and losing.

The FXGlory’s VPS solution runs on top of the line servers, connects to multiple backbones and has complete redundancy providing absolute reliability with regards to Forex trading.

Any popular EA’s can have thousands of traders all trying to execute the same trade at the same time.

There is a limited amount of liquidity available to traders before slippage occurs.

Signup today and get the free VPS from FXGlory.

The better the latency, the better the chance of getting the best price and making money on a specific trade.

FXGlory Broker Service Review, an online Forex and Commodity broker with MT4 trading platform.

Service Details

Company
FXGlory
(Fxglory Ltd)
Rating Traders Rating
4.7 rating based on 7 ratings
4.7/5 7
Regulations Regulations & Licenses
Founded Founded in 2011 (9 years)
Max Lev Maximum Leverage

Disclaimer about leverage:

Leverage is offered based on your knowledge and experience. The leverage /margin requirements may be subject to change as subject of applicable regulation in your country of residence.

USA clientsNot Accepted
JPN clientsAccepted
Country BaseUnited Arab Emirate
Headquaters Flat 409 Sikka Al Murar, Dubai, United Arab Emirate

Disclaimer about leverage:

Leverage is offered based on your knowledge and experience. The leverage /margin requirements may be subject to change as subject of applicable regulation in your country of residence.

All Forex Brokers

  • IFC Markets
  • FxPro
  • IronFX
  • Axiory
  • FBS
  • Land-FX
  • MyFX Markets
  • Titan FX
  • Traders Trust
  • XM
  • LMFX
  • FXDD
  • ForexClub
  • KVB Kunlun
  • Tradeview
  • EightCap
  • FXOpen
  • HotForex
  • FXGiants
  • LQDFX
  • Fortrade
  • CM Trading
  • InstaForex
  • FXPRIMUS
  • ForexMart
  • Valutrades
  • AvaTrade
  • Yadix
  • easyMarkets
  • JustForex
  • FXTM
  • HYCM
  • FP Markets
  • SimpleFX
  • IC Markets
  • Evolve Markets
  • Tickmill
  • Markets.com
  • UFX
  • Anzo Capital
  • LiteForex
  • 4xCube
  • OctaFX
  • Tifia
  • XTB
  • AAAFx
  • NordFX
  • FXGlory
  • Capex
  • ClickTrades
  • TopstepFX
  • HotForex ZA (South Africa)
  • XMTrading
  • PaxForex
  • FortFS
  • MiltonMarkets
  • ETFinance
  • ATFX
  • XBPrime
  • Oinvest
  • VantageFX
  • EXNESS
  • BlackBull Markets
  • SuperForex
  • Deriv
  • SquaredFinancial
  • OlympTrade
  • FinmaxFX
  • Plus500

All Crypto-Currency Exchanges

  • CEX.IO
  • HitBTC
  • Paxful
  • BitMEX
  • C-CEX
  • Binance
  • YObit
  • Bibox
  • BKEX
  • CoinPark
  • CoinEx
  • IRONX
  • CoinField
  • bybit
  • Bitpanda
  • XBTFX
  • Trade8
  • PrimeBit

This website uses cookies

By using our site, you acknowledge that you have read and understand our Privacy Policy (Cookie Policy), and our Terms of Service.