Tier1FX is an online brokerage firm that was founded in 2013 and based in Malta. It is the brokerage arm of “Hogg Capital Investment Ltd”, a licensed investment services company in Malta.
The broker offers multiple trading instruments across a few asset classes, such as forex, cryptocurrency, and indices. They incorporate the direct market access (DMA) brokerage model, so they act as an agent and do not interfere in pricing or executions.
Tier1FX Review Introduction
In this Tier1FX review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including Tier1FX.
Tier1FX Platforms & Tools
Tier1FX provides traders with a vast selection of trading platforms. These include:
MetaTrader 4 (MT4)
It is a robust and powerful platform that is widely used by forex and CFD traders across the globe. MT4 has a fully customizable interface, very fast STP executions, charting tools, and support for automated trading using Expert Advisors (EAs), amongst other features. The platform is available as a desktop application, WebTrader, and mobile apps, which are compatible with iOS and Android devices. The mobile apps can be downloaded from the relevant app stores, and they allow users to manage their accounts and place trades on the go.
Fortex 6
This is a powerful trading platform, yet it has a simple and user friendly interface. The platform is replete with multiple features for analysis and trading, including advanced charting and analysis, multiple order types, one-click trading, and AlgoX — a trading engine that supports the coding of automated strategies. The Fortex 6 trading platform is available as an HTML5-based WebTrader that can run directly on modern web browsers, desktop applications for Windows and Mac computers, and mobile app for Android and iOS devices.
JFOREX
This is the proprietary platform designed by Dukascopy, a Swiss online bank and broker. JFOREX is a Java-based platform that is available for desktop (Windows and Mac), web, and mobile (Android and iOS) devices. Its features include over 180 technical indicators and analytical tools, deep liquidity and transparent pricing, advanced charting and multiple order features, and more than 20 languages
FIX API
An electronic communication protocol used for financial information exchange, FIX API gives direct market access (DMA). FIX API is very fast, and it is also easy to set up and use. EAs can be used via the FIX API to automate forex and CFD trading.
The broker also provides traders with other useful trading tools including VPS, a selection of managed accounts, and more.
Tier1FX Research & Education
The broker’s website does not contain any educational materials at the moment.
Tier1FX Trading Accounts
Tier1FX offers clients two account types: Individual Account and Corporate. The minimum account opening balance is $1,000 or the equivalent in the account’s base currency. The maximum spread is 1:30 in compliance with the ESMA rules. Commissions on forex trading are as follows: $2.75 for forex, $3.25 for commodities, $0.3 for USD, and & 0.10% on cryptos. Accounts can be opened in EUR, USD, GBP, CHF, and JPY; currency conversion fees do not apply. Demo accounts that are preloaded with virtual funds are available for practice purposes.
Tier1FX Account Funding
The broker offers bank wire transfers and credit/debit cards as the available payment methods. The transaction fees, limits, and processing time may vary with the payment method used.
Tier1FX Customer Service
Tier1FX asserts that it has a fast and efficient customer support team that works 24/5. They can be reached via instant web chat, email, telephone, or by filling the ‘contact us’ form on the website.
Tier1FX Regulation
Tier1FX is a division of ‘Hogg Capital Investment Ltd’, which is a Malta-based financial investment company with the registration number IS18954. It is authorized and regulated by the Malta Financial Services Authority (MFSA). The license number is C18954. Being an EU-based broker, they operate in other EU countries and are registered with the following regulators: FCA, CNMV, CONSOB, BaFIN, AMF, CySEC, CNB, and ATVP.
Tier1FX Review Summary
Tier1FX is an STP broker that uses modern infrastructure to provide swift trade executions. They are regulated by the MFSA and registered in several European nations. The broker offers competitive spreads on cutting-edge trading platforms.
It is worth mentioning that some of the trading products and services in this Tier1FX review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the Tier1FX broker website which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Tier1FX
Features
- Multiple trading platforms, including JFOREX, Fortex 6, and MT4
- Useful trading tools like VPS and MAM Accounts
- Multiple trading instruments
