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BaxterFX reviews

BaxterFX_logo BaxterFX 6/10 (votes 2374)

On-line since: 1996
Country of origin: Ireland
Regulation: ASIC, the Central Bank of Ireland
Payment options: bank transfer
Minimum account size: $50,000
Minimum lot size: 0.01 lot
Leverage: -
Spreads: -

BaxterFX is an innovative group of the best performers and technologies specializing in foreign exchange markets. As stated on the company`s official website, its mission is to open access to the most competitive and liquid foreign exchange markets in the most efficient way. The broker entered the Forex market in 1996 and since then, gained extensive experience. According to the website, BaxterFX has offices in Dublin and Sydney. The company is regulated by the Australian Securities and Investments Commission (ASIC) and the Central Bank of Ireland.

Trading conditions

BaxterFX is an ECN broker which requires its clients to deposit at least $50,000. Currently, deposits are accepted in US dollars, euros, pounds sterling, and Australian dollars. The company offers to trade the following trading instruments: CFDs on stocks, options, and precious metals. Of course, not every trader can deposit such an amount as seed capital. Using such a high initial deposit requirement, the broker limits cooperation with novice Forex traders. Besides, there is no opportunity to open a demo account. Apparently, the company policy is focused on professional traders.

Trading platforms

BaxterFX offers its customers to conduct trading through the following platforms: Currenex, Hotspot, and FxAll.

Support service

Baxter FX customer support is available 24/7 via email or phone. On the website, there are no pop-ups or a live chat that would allow you to consult in real time.

Deposit and withdrawal of funds

BaxterFX has a limited choice of payment methods. Clients can replenish their accounts or withdraw funds only through bank transfers, since it is quite difficult, risky, and cost-ineffective to transfer money through electronic services or credit cards.

Advantages and disadvantages

Advantages:

  • regulated broker
  • extensive experience in the Forex market

Disadvantages:

  • high minimum deposit
  • no demo account
  • limited choice of deposit/withdrawal methods
  • no detailed information on support service
  • no regular bonus programs

Conclusion

We cannot recommend you trade with Baxter FX due to the obvious problems related to inflated minimum deposit requirements, reduced leverage, and lack of support for small account holders. If you are not a major trader who uses huge sums of money for trading in the Forex market, you should consider other brokers that require lower initial trading capital.

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