Contents
- 1 Fox Markets Basics
- 2 Our Opinion About Fox Markets
- 3 Advantages Of Trading With Fox Markets
- 4 Fox Markets Regulation
- 5 Client Fund Safety
- 6 Industry Awards
- 7 Fox Markets: Legit Or Scam?
- 8 Fox Markets Trading Assets
- 9 Trading Instruments
- 10 Fox Markets Account Types
- 11 Live Accounts
- 12 Demo Accounts
- 13 Minimum Deposits
- 14 Forex Bonuses
- 15 Fox Markets Registration – How To Open A Trading Account
- 16 Fox Markets Registration – How To Verify A Trading Account
- 17 Fox Markets Payment Methods
- 18 Deposits
- 19 Withdrawals
- 20 Fox Markets Trading Platforms
- 21 Trading Tools
- 22 Trading Hours
- 23 Fox Markets Customer Support
- 24 Our Verdict
- 25 Fox Markets Forex Broker Review FAQ
- 26 Similar Brokers
Fox Markets Basics
| 🏛️ Based in | Limassol, Cyprus |
|---|---|
| ⚖️ Regulation | SV |
| 💰 Minimum Deposit | $5 |
| 💳 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 offers traders access to the global foreign exchange market. It provides an online platform for trading currencies, commodities, and indices. They are a reliable forex broker with registrations with the FSC in Saint Vincent and the Grenadines. With Fox Markets, you can trade with confidence knowing that your account funds are protected by the latest security protocols.
Fox Market’s mission is to provide its clients with a reliable and user-friendly trading environment so they can make informed decisions when it comes to their investments in the forex market. The company also strives for transparency in all of its operations so customers know exactly what they’re getting into before making any trades or investments on their platform.
The company has been around since 2020 and has quickly become one of the most popular brokers among both novice traders as well as experienced professionals alike due to its competitive spreads, low commissions rates, fast execution speeds, advanced charting tools & analysis software packages available through their web-based platforms (MT4/5). Additionally they offer 24/7 customer support via phone & email which makes them stand out from other brokers who may only offer limited hours of service or no customer support at all!
Advantages Of Trading With Fox Markets
When it comes to trading on the foreign exchange market, having a reliable and trustworthy broker is essential. Fox Markets is one such broker that offers traders an array of advantages when it comes to their forex trading experience. Here are some reasons why you should consider using Fox Markets for your forex trades:
- Low Spreads: One of the biggest advantages offered by Fox Markets is its low spreads, which can be as low as 0.1 pips in certain markets and currency pairs. This means that you will have more money left over after each trade due to lower transaction costs compared with other brokers who may charge higher spreads or commissions on trades.
- Good Trading Platforms: Another great advantage offered by this broker is its variety of platforms available for traders including MetaTrader 4 (MT4) and MetaTrader 5 (MT5). This means you have plenty of options when it comes to choosing your preferred platform for executing trades quickly and efficiently – without any hassle or delays in execution times.
- Leverage Options: With leverage of up to 1:400, Fox Markets allows you access to larger amounts than they would otherwise be able to trade with. This gives you greater flexibility when making decisions about how much risk you want take on during each individual trade. It also enables you to maximize profits from smaller price movements within shorter time frames if desired.
- Customer Service & Support: Last but not least, Fox Markets provides excellent customer service. Their customer support team is available during office hours. You can reach them via live chat, email, and telephone. They are very helpful and traders will always have someone to help answer questions about their trading accounts
Fox Markets Regulation
Fox Markets is incorporated in Saint Vincent and Grenadines. This means that they are incorporated by the Registrar of International Business Companies (IBC). As an SVG forex broker, they operate with slightly less regulatory oversight than some of the other regulated brokers in Kenya. However, they are still a reputable forex broker. They implement strict security and client fund safety protocols. As such, they are a registered and regulated company with good practices.
Client Fund Safety
At Fox Markets, they understand that the security of our clients’ funds is paramount. That’s why they take a number of measures to ensure that your money is safe and secure when trading. Their team has implemented several layers of protection for their customers, including:
- Segregated Accounts: All client funds are held in segregated accounts at top-tier banks around the world. This ensures that customer deposits remain separate from company assets and cannot be used by Fox Markets for any other purpose than to facilitate trades on behalf of its clients.
- Negative Balance Protection: Their negative balance protection policy guarantees traders will never lose more than their initial deposit amount – even if market conditions become volatile or extreme losses occur due to unexpected events such as slippage.
- Secure Payment Methods & Data Encryption Technology: They use advanced encryption technology (SSL) across all payment methods so you can rest assured knowing your data is always protected against unauthorized access and misuse.
Industry Awards
Fox Markets has won 3 industry awards.
Fox Markets: Legit Or Scam?
Yes, Fox Markets is a legit broker. Fox Markets is an established and reliable provider of online trading services for the forex market. They offer competitive spreads, low commissions, and fast execution times on all major currency pairs. Their customer service team is available 24/7, and speaks multiple languages, making them a great choice for traders from around the world. Additionally, they provide access to advanced trading tools such as charting software and automated strategies that can help you make informed decisions when entering or exiting trades.
Fox Markets Trading Assets
Fox Markets offers a great selection of trading instruments including forex, indices, commodities, metals, and cryptocurrencies.
Trading Instruments
- Forex: They offer trading on many major, minor, and exotic currency pairs.
- Share CFDs: They have share CFDs including Amazon, Apple, eBay, Tesla, and more.
- Indices: They offer trading on CFD indices including the S&P500 and the FTSE100.
- Commodities: They offer trading on many CFD metals and energies, including gold.
- Cryptocurrencies: They provide trading on Bitcoin. Ethereum, Litecoin, and more.
Fox Markets Account Types
Fox Markets has two 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 |
Live Accounts
As you can see, Fox Markets offers two different live accounts. In our opinion, the best account option for new forex traders in Kenya is the Standard Account. It comes with low minimum deposits, tight spreads, and low commissions. It also comes with high leverage, fast trade execution, and the choice of two great trading platforms. This means that you will have everything you need to start trading forex.
Demo Accounts
Fox Markets also gives you the opportunity to trade on a demo account. The Fox Markets demo account is a very helpful trading tool for new forex traders. This because it enables you to learn how to trade using virtual money, rather than real funds, and to test your trading strategies in a risk -free environment. The demo account is available on both MetaTrader4 and MetaTrader4.
Minimum Deposits
The Fox Markets minimum deposit is $10.
Forex Bonuses
Fox Markets offers a welcome bonus of 20% up too 5000$. T&Cs Apply.
Fox Markets Registration – How To Open A Trading Account
As part of our Fox Markets broker review, we tried out their online registration process. If you live in Kenya, then you are able to open an online trading account. Signing up for an account is easy. To get started, you need to go to their website, complete the online registration form, and select your login details. This is so that they can create your account. Next, you need to complete a quick online trading test. This is so that they can see what you know about forex trading. Lastly, you need to go through the account verification process, submit copies of the requested documents, and fund your account.
Fox Markets Registration – How To Verify A Trading Account
As part of our Fox Markets broker review, we also tried out their account verification process. To verify your trading account, you will need to send Fox Markets a proof of ID and a proof of address. This is so that they can confirm the personal detail you provided are correct and carry out the required regulatory checks. The account verification process is simple. You can send them copies of your National ID card, Passport or Driving License. You can also send them copies of a utility bill or a bank statement registered in your name. After they have verified your account, you can start trading.
Fox Markets Payment Methods
As part of our Fox Markets review, we checked which payment options they offer. As there are several deposit methods to choose from, funding a trading account can be quite easy. As they also provide a good selection of withdrawal options, withdrawing money can be quite simple too.
Deposits
When it comes to funding methods, Fox Markets offers many reliable deposit options including debit card, credit card, and bank transfer. If needed, you can also try other deposit methods such as Sofort, Giropay, Skrill, AdvCash, or cryptocurrency payments. The deposit times can change depending on which payment method you choose. For example, Skrill deposits are instant, but bank transfer deposits may take several days. Fox Markets does not charge any deposit fees.
Withdrawals
When it comes to withdrawal methods, Fox Markets offers many easy withdrawal options including debit card, credit card, and bank transfer. If preferred, you can also use other withdrawal methods like Sofort, Giropay, Skrill, AdvCash, and cryptocurrency payments. The withdrawal time can vary slightly depending on which withdrawal 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 in the industry – MetaTrader4 and MetaTrader5. They come with great trading conditions, detailed charts, and helpful analysis tools.
MetaTrader4 (MT4) is the best option for new forex traders in Kenya. You can use it to trade any of the Fox Markets financial instruments including the forex, stocks, and indices markets. The MT4 trading platform comes with plenty of helpful features including charting tools, 4 order execution types, 30 technical indicators, and 23 analytical objects. As such, it is a nice beginner platform that you can easily use to work on your market analysis and manage your trades.
MetaTrader5 (MT5) is the best option for intermediate forex traders in Kenya. It has a simple interface and comes with lots of helpful features. You access to trade a wide range of instruments including forex, shares, metals, and crypto. The MT5 trading platform also has helpful features including 6 order execution types, 38 indicators, and 37 analytical objects. As such, it has slightly more advanced options than MetaTrader4 and offers you more analysis tools.
Trading Tools
Fox Markets has a handy copy trading service. The Fox Master Trader Service enables you to implement the same trading strategy as other traders. All you need to do is register for a managed trading account.
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
At Fox Markets, they understand the importance of customer service and are committed to providing their clients with the best possible support. They offer a range of services designed to help you get started trading forex quickly and easily. The team is available 24/7 via phone, email or live chat so that you can always reach us when needed. Their friendly staff will be happy to answer any questions you may have about setting up an account or using our platform for trading.
Our Verdict
Fox Markets is a reliable forex broker with great account options and competitive trading conditions. It offers low trading costs, high leverage, and fast trade execution. It also offers helpful copy 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 and low entry requirements. They offer many trading instruments including forex, stocks, commodities, indices, and cryptocurrencies. They also offer transparent trading conditions, good pricing, and fast trade execution, enabling you to benefit from a fair trading environment. In our opinion, they are a good broker and a great choice for Kenyan traders.
Yes, Fox Markets is a regulated forex broker. The company is registered in Saint Vincent and Grenadines. This means that the broker is incorporated by the Registrar of International Business Companies (IBC). As a regulated broker, they 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 instruments. They also have good trading accounts, powerful trading platforms, and reliable payment methods. However, if you want to consider other options, there are also many other great forex brokers in Kenya. We recommend looking at HotForex, FXTM, FXPesa, Exinity, and Instaforex.
Ready to sign up? Register for an online trading account with Fox Markets.
