SuxxessFX Review

Introduction

SuxxessFX is a CFD broker that offers a wide range of 320+ tradable assets across forex, crypto, indices, commodities, and stocks. To trade with these instruments, the company offers their proprietary browser and mobile trading apps. The company also allows automated trading strategies in contrast to many brokers.

The company has straightforward yet many stand-out offerings. For example, the spreads are low and leverage is high. There’s also a stop-out level to help you avoid major losses. There are no hidden fees on trading activities and applicable discounts on swap fees and spreads. For those who want to take the swap-free route, the swap-free account is also available. The minimum deposit to start trading with SuxxessFX is $250. 

SuxxessFX is a broker registered in Cyprus and regulated by the FSA Seychelles. An offshore regulation lacks the strictness of a tier-1 regulator but also gives a broker flexibility to offer features like high leverage, high leverage on trading, etc. 

Supported Countries

SuxxessFX is available in most countries around the world, including EU countries. Many brokers do not accept clients from the EU because they don’t comply with the strict regulatory framework of the region. This is not the case with SuxxessFX. The company not only accepts clients from the region but also offers customer service in multiple European languages. However, clients from the United States are not accepted by the broker. Besides the US, the broker does not accept clients from EU, UN, and FATF sanctioned countries. 

The best way to check if a broker is available in your country or not is by going to their sign up page. When you enter your phone number or select the country of residence, it will tell you that you cannot register. 

Average Customer Rating

Looking at the reviews and average customer rating can give you insights into a broker’s performance. We have a customer reviews and rating section on our website where our visitors share their reviews and rate a broker. In addition, we also quote the ratings given to a broker on Trustpilot. At the time of writing this review, SuxxessFX has a 3.6-star rating on Trustpilot with under 100 reviews. 

Trading Platforms

It is difficult to provide a standard answer for a good trading platform. It is because all traders are different and so are their trading styles. Therefore, a very highly rated trading platform by some traders may not be good at all for another group. So, it is important to see if the features you usually seek are available with the trading platform your broker offers. 

SuxxessFX does not offer third-party trading platforms. Instead, the company offers its proprietary browser-based WebTrader. A browser-based trading platform takes out the hassle of installing a trading platform on your device. If you prefer trading from your phone, you can also do that with the company’s mobile app available on both Android and Apple devices. 

Account Types

Most brokers usually offer multi-tiered trading accounts suitable for different types of traders. These account types usually differ in trading conditions. SuxxessFX offers 3 types of live trading accounts, a demo account, and a swap-free Islamic account.

The following are the trading accounts offered by the country:

Silver Account

The Silver Account is an entry-level account best suited for beginners. This account requires a minimum deposit of $250 to start trading. The spreads are variable and generally low while the offered leverage is capped at 1:200. You can trade with minimum 0.01 lots and the stop-out level is set at 5%. You can access all the tradable assets and services on all trading accounts.

Gold Account

The Gold Account is a medium-tiered option for somewhat experienced traders. The main differences between this account and the Silver account are applied spreads and swap fees, which are 40% to 50% of the Silver Account. Other offerings on this account are the same as the Silver account.

Platinum Account

Platinum is the top tier trading account and is best suited for seasoned traders. The spreads and swap fees on this account are 60% to 75% of the standard Silver account.

Islamic Swap-Free Account

On regular trading accounts, swap fees are charged for overnight held positions. Swap-free accounts allow you to trade without any interest fees applied to your funds. SuxxessFX offers an Islamic account. However, it is not clearly advertised on the company’s website. You have to reach customer service to know about it.

Demo Account

The Demo account is a free-tier account with virtual funds. You can get a feel of the trading platform and test strategies without risking actual funds. For new traders, it is highly advisable to get the most out of the demo account before opening a live trading account.

Customer Support

Customer support is often a deciding factor for traders when it comes to choosing a broker. SuxxessFX goes beyond the usual industry standards for customer support in multiple ways. For starters, the company offers 24/5 availability where many brokers have limited hours of service during the day.

Depending on the type of query, you can reach the support with live chat, email, and phone. The live chat option is available on the company’s website. For email support, you can send your queries at [email protected]. To reach them via phone, you can dial the following numbers: 

• Switzerland +41449746919
• Brazil +551151784334
• Colombia +576019158027

The support is available in a total of six languages which are English, Spanish, Italian, Portuguese, French, and German. 

Leverage and Spreads

Higher leverage allows traders to control bigger positions. Leverage is a multiplier that increases both the risk and reward for traders. SuxxessFX offers a high but balanced leverage of 1:200. However, to limit the risks and avoid incurring higher losses higher than your deposited funds, the company offers a 5% stop-out level. 

SuxxessFX offers variable spreads, which means the fees can differ based on the market conditions. These spreads can be higher or lower compared to fixed spreads, but they are generally lower. 

Deposits and Withdrawals

Deposits and withdrawals are frequent activities for any active trader. Therefore, a convenient payment method can significantly reduce the hassle for a trader. SuxxessFX offers deposits and withdrawals via Visa, Mastercard, and Wire Transfer. 

The company lacks payment options via major digital wallets. But a good thing is that SuxxessFx does not charge deposit or withdrawal fees. However, your payment method may have applicable fees on their end. 

Regulation and Compliance

SuxxessFX Ltd. is registered and regulated in Seychelles by FSA under registration number SD. 204. The company’s registered address is office no. 12, IMAD Complex, Ile Du Port, Seychelles. 

Financial regulatory bodies ensure certain standards are being met in terms of operations. Therefore, it is highly advisable to opt for regulated brokers. SuxxessFx is offshore regulated in Seychelles by FSA. The FSA does not have a strict regulatory framework like FCA, ASIC, or EU-based regulators. Sometimes brokers opt for offshore regulators to offer flexible trading conditions like high leverage. It is important to note that offshore regulators lack the broker insurance or compensation plans we usually see from top regulators. 

However, FSA does require brokers to follow KYC (Know Your Customer) and AML (Anti Money Laundering) protocols. 

Conclusion

SuxxessFX has many features and offerings that make the broker stand out. The swap-free Islamic account, low spreads, 24/5 multilingual support, an extensive range of tradable assets across 5 to 6 markets, proprietary trading platforms, automated trading options, and a solid leverage make it a great broker to explore. You can register with the broker and test the company’s WebTrader by opting for a demo account.