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broker International Review 2023

Platforms and Tools
Customer Support
Tradable Instruments
Account Types and Terms
Deposit and Withdrawal

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% 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. Capital at risk

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Please Note: For this review, we focused on the services provided by, operated by Stone X Financial Ltd, an entity regulated by the UK Financial Conduct Authority (FCA), using the Standard Account from the broker’s Web Trader platform.

This entity is the international offering and not for US residents.

The Big Picture is a great all-around broker offering products and services suitable for beginner and advanced traders. The broker holds licenses from some of the most trusted global regulators including the FCA, JFSC, NFA/CFTC and IIROC.

Beginners can open a commission-free account in just a few minutes and trade on thousands of different markets across Forex, indices, commodities, bonds and stocks. Advanced traders can access a commission-based, Direct Market Access (DMA) account for raw spreads and top tier liquidity.

There are two trading platforms offered which are mainly for professional traders. However, beginner traders can trade from the easy to use mobile trading apps and use the broker’s platform guides to understand how to use the web and desktop platforms. Key Takeaways for 2021

  • We evaluated according to nine categories. The broker scored highly in several categories including Account Types, Deposits & Withdrawals, Research and Education.
  • Although we found the trading fees competitive overall some commodity markets had slightly larger spreads than the industry average. Additionally, stock trading is not commission-free and there is a fee of 1.8 cents per share but this is still better than the industry average.
  • Beginner traders will enjoy the commission-free trading account and there are plenty of education articles, videos and courses for additional support. We also found the customer support to be quick and their agents to be knowledgeable on various topics.
  • Advanced traders can truly benefit from the commission-based Direct Market Access (DMA) account that includes raw spreads and top tier liquidity. Although this account is commission-based if you’re trading enough volume each month it is likely to be a more cost-effective option.
  • The two professional trading platforms available include the broker’s proprietary Web Trader platform and MetaTrader 4. The Web Trader platform was great and had tons of tools and features but there is a bit of a learning curve. Furthermore, advanced traders can also take advantage of the SMART signals and trading ideas from third-party analytics company Trading Central.

Who is

According to our testing, we found to be a great broker for both beginners and advanced traders. The different account types available are a mix of commission-free and commission-based.

If you’re looking for competitive fees on Forex and stocks, then could be for you. The spreads on Forex pairs are competitive and the commission for stock CFDs are better than the industry average.

If you have a larger sized trading account then the Direct Market Access (DMA) account is likely to be a much more cost-effective solution due to its raw spreads and a volume-based commission structure. Pros and Cons

Pros Cons
  • Simple account opening process
  • Lots of tools and platforms available
  • Wide range of research and education available
  • Trading platforms have a learning curve
  • Stock trading is not commission-free but is still very competitive



CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% 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. Capital at risk


About the Author

Jitan Solanki
After discovering techniques to trade pan-European and US equities, Jitan developed a love for a short to medium term trading on indices and commodities, and later on currencies.
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How Do We Rate?

When trading forex and CFDs, it is crucial to know a broker's strengths and weaknesses. That is why FX Empire developed its proprietary rating system. We put the knowledge and expertise of our reviewers to work to bring you the most suitable brokers. A total of 200 variables have been analyzed to help you choose your broker wisely. This chart describes all the categories we evaluated and rated.
How Do We Rate Chart
Visit our methodology page to learn more about our review and rating process. International Main Features
NFA (United States), CFTC (United States)
Supported Languages
English, Arabic, Russian, Japanese
Products (CFD)
Currencies, Commodities, Indices
Min Deposit
Max Leverage
1:50 (NFA), 1:50 (CFTC)
Trading Desk Type
Market Maker
See More
Check if... International accepts clients from your country:
Choose your country:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% 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. Capital at risk International Full Review


How Do We Test A Broker's Trust?
When choosing a broker, trustworthiness is one of the most important things to keep in mind. Always check the broker's regulations, know how financially secure the firm is, and find out whether the broker is transparent and reliable. These factors, calculated into our score, will help you understand if your money is safe.

See More scored close to full points in this category as all four entities are regulated by tier 1 financial regulators, making the broker safe to trade with. However, you should note that each entity has different safeguards and protections.

Why is It Important to Know Where Your Broker Subsidiary (Entity) is Regulated?

The location of a broker will dictate the level of regulatory oversight and protections offered to investors. Due to a regulatory clampdown from tier 1 regulators such as the FCA, CySEC and ASIC, many brokers have moved offshore so it’s worthwhile doing your due diligence.

We look for several things when analysing the safety and trust of a broker. This includes:

  1. Segregation of client funds from company funds. Having client funds segregated from company funds is always important as you don’t want your broker to use your funds to run their business!
  2. A negative balance protection policy. This means that your account cannot go into a negative balance from adverse movements in the market.
  3. Compensation scheme. Does the entity or regulator provide access to compensation in the event a broker goes bust?
  4. Are additional safeguards put in place by the broker even when they are not required to do so? This is a great measure of just how serious your broker takes your safety!

Some financial regulators make it a regulatory requirement to offer some of these features, while others do not.

We found that is very transparent about what protections you have and don’t have based on where you open an account.

The broker is also part of StoneX Group Inc., a NASDAQ-listed company with a strong balance sheet and an experienced management team meaning the company is regularly audited and has to abide by strict rules and regulations, making a safe broker that is transparent and stable. Regulations operates four different entities around the world:

  • Stone X Financial Ltd – authorised and regulated by tier 1 regulator, the Financial Conduct Authority (FCA).
  • GAIN Capital Japan – authorised and regulated by tier 1 regulator, Japan’s Financial Services Agency (JFSA).
  • GAIN Capital Group USA – authorised and regulated offshore by tier 1 institutions, the National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC).
  • Canada – authorised and regulated by tier1 institution, the Investment Industry Regulatory Organization of Canada (IIROC).
Stone X Financial Ltd GAIN Capital Japan GAIN Capital Group USA Canada
Segregated Funds Yes Yes Yes Yes
Negative Balance Protection Yes No No No
Compensation Scheme FSCS Up to £85,000 No No CIPF up to 1,000,00 CAD

*Regulations up to date as of 1 December 2021.

Stone X Financial Ltd – Protections and Safeguards

Stone X Financial Ltd operates and is regulated by the UK’s Financial Conduct Authority (FCA) which is a tier-1 financial regulator.

Users registered with this entity will have negative balance protection, segregated client funds from company funds and will be part of the Financial Services Compensation Scheme to protect clients in the event of default.

The authorisation and licencing of Stone X Financial Ltd can be confirmed on the FCA register. FCA Regulation FCA Regulation is also licenced and regulated by US, Canadian and Japanese regulators. The investor protections differ from UK regulators. For example, while all entities in the group will segregate client funds from company funds, only the UK entity will offer a negative balance protection policy as this is a regulatory requirement from the UK authorities.

Nonetheless, as is part of the StoneX Group which is a publicly listed company on the NASDAQ stock exchange, there is an extra layer of investor protection and safety.


How Do We Test A Broker's Fees?
Broker fees can be difficult to understand. We test the broker's platforms and examine commissions, spreads, and overnight fees to ensure that you can determine if trading with this broker is worth your time and money.

See More trading fees are competitive for Forex and stocks. For some commodity markets, the spreads are slightly wider. Fees on the commission-based accounts are also very competitive across all asset types and better than the industry average.

There are a variety of different fees to look at when choosing a broker.

  • Trading fees are those associated with buying and selling a financial instrument and include:
    • Commission – The cost to enter and exit a trade.
    • Spread – The cost between the buy price and sell price
    • Overnight swap fee – The cost of holding a leveraged position overnight.
    • Conversion fees – The cost to convert your base currency into the currency of the asset you are trading, if it is different.
  • Non-trading fees are charges that are not related to buying and selling a financial instrument and include:
    • Deposit and withdrawal fees (discussed further down this review)
    • Inactivity fees – The cost to have a trading account opened with zero activity on it. Trading Fees

In our live trading test for fees, we used the commission-free Standard trading account from the FCA regulated entity (Stone X Financial Ltd). It should be noted that although the Standard account is commission-free there are fees for trading stocks from 1.8 cents per share.

We viewed the live spreads for Forex, indices, shares and commodities at two different times of the day – around 10 am and 2 pm London time on 01 December 2021. The live spread for stocks was viewed at 2.45 pm London time which is just after the US market opened.

These times generally cover the most liquid sessions of the day.

What did we find? Overall, has competitive spreads for Forex and stocks, however, for some commodity markets the spreads are slightly wider than the industry average.

Instrument London AM Spread London PM Spread
EURUSD 1.2 0.9
GBPJPY 4.5 3.1
Gold 0.8 0.73
US Crude Oil 0.05 0.05
DAX 40 1.2 1.2
Dow 30 3.5 2
Apple 0 (not open) 0.01
Tesla 0 (not open) 0.38

The overnight swap fees were also in line with the industry average. This fee is important for long-term traders, as overnight fees can add up if you are holding trades for a long period of time.

Are Trading Fees Good? offers competitive trading fees on Forex and shares CFDs. Spreads on popular and highly liquid pairs such as EURUSD were as low as 0.9 pips but we did find pairs such as GBP/JPY which are more volatile to have a spread ranging from 3.1 pips to 4.5 pips. Although this is higher it is still within the industry average.

Share trading with is also great as the spreads were small on popular stocks such as Apple and Tesla and commissions were low at only 1.8 cents (USD) per share which is better than the industry average.

Some index and commodity markets did have slightly higher spreads compared to other brokers. For example, the DAX index was recorded to have a spread of around 1.2 pips when most brokers advertise a 1 pip spread. Non-Trading Fees

Some brokers impose an inactivity fee on trading accounts if there is no activity on your account, such as the buying and selling of an instrument, deposits and withdrawals, for a certain period of time. does charge an inactivity account fee of £12 per month if no account activity has taken place in 12 months. However, this is low compared to the industry standard.

Platforms and Tools

How Do We Test A Broker's Platforms and Tools?
Platforms are where you trade, so they must be secure, fast, and accessible while offering you the tools you need to succeed. Each broker's desktop, web, and mobile platforms are evaluated according to the order types, speed of execution, ease of use, and other 'need to know' features.

See More provides users with the ability to trade on two professional trading platforms that include the broker’s own proprietary platform powered by TradingView charts and a third-party trading platform MetaTrader 4. The platforms do require a learning curve but the mobile app is simple to use and easy to trade on.

The broker uses an STP (straight through processing) model which means orders are routed directly through to the market with no broker interference. This provides much better execution for traders. You can also access the DMA (direct market access) account where you can trade directly with the interbank market.

Which Platforms Are Suitable for Beginner and Advanced Traders?

For beginner traders, mobile apps are the easiest, simplest and fastest way to trade. Advanced traders would largely benefit from the broker’s own Web Trader platform and the MetaTrader 4 platform for web and PC.

The web and MetaTrader 4 platforms are geared towards advanced traders as they are feature-rich. There will be a learning curve for most beginner traders but with the tools available they are definitely worth learning.

If you’re looking for a quick and simple way to buy and sell, then the mobile app would be the best to use. Desktop/Web Platform

The broker’s Web Trader and MetaTrader 4 platforms are mainly geared towards professionals. Generally, web-based platforms are easier to use but there is still a learning curve.

For our test, we used the broker’s proprietary Web Trader platform. The platform is easy to use once you’re familiar with it and it is packed with extensive tools and features including:

  • An easy to use user interface.
  • Great range of customisable technical indicators.
  • Multiple drawing tools for technical analysis and risk management.
  • Performance analytics.
  • Customisable and responsive workspaces.

Overall, the Web Trader platform was more user-friendly than the MetaTrader 4 platform. For users who want to take advantage of features such as automated trading the MetaTrader 4 desktop platform would be a better choice.


The broker’s Web Trader platform allows you to fully customise your workspace with the flexibility to add as many charts as you want within that space. Multiple workspaces can be created and navigating between multiple markets is seamless with the customisable watchlist.

Different markets can also be loaded from the chart screen and you can add overlays and additional charts on top of the one you currently have open. There are over 10 different chart types to choose from, 14 timeframes and over 80 technical indicators.

Below is a screenshot of the Web Trader platform: Web Trader Platform Web Trader Platform


You can place live market trades which enter you in the market at the current price. You can also place pending trades that will enter you in the market at a set predefined price level that you type into the order ticket.

Expiry orders are also available which helps you to manage your overall risk in the market and make sure you don’t open a trade at the wrong time. You can also set alerts on the platform.

General Ease of Use

Both the Web Trader platform and the MetaTrader platforms for web and PC take some time to get used to. But, the broker’s Web Trader platform was easier to learn due to its simple and intuitive user interface and functionality.

The MetaTrader 4 platform is easy to use once you have become more familiar with it but it doesn’t offer the same user-friendly interface as the broker’s Web Trader platform.

However, as MetaTrader is the most popular trading platform for retail traders there are a lot of support tools in the online community which will aid users in learning the platform.

Overall, both platforms are worth spending the time in learning as they offer different tools and features.

Other Features

The MetaTrader desktop platforms also allow you to access the MetaTrader Marketplace where you can download algorithmic trading strategies and build customised indicators. Mobile App

In our live test, we used the mobile trading app. The mobile app is easy to use and is the fastest way for users to begin trading.

The app provides live market quotes, multiple timeframes, position management, technical indicators and drawing tools as well as functionality to deposit and withdraw funds from your account.

The download process was easy and is a great way for beginner traders to start trading.


You can download the mobile app for Android and iOS devices. In our test, we downloaded the mobile app which is available on Android and iOS operating devices and can be downloaded from the Google Play Store or Apple App Store.


The app displays charts with a clean and simple look but with advanced tools and features. The app allows you to add and compare symbols, add indicators and drawing tools while accessing 14 timeframes.

You can customise the type of chart you want to be displayed such as candlestick, bar chart, line, area and more. Viewing the chart is simple and can be done by clicking on the market of your choice.

Below are some screenshots of the mobile app for iOS devices: Mobile App for iOS Mobile App for iOS


The mobile app allows you to place multiple order types including market orders, pending orders, take profits, stop losses and good-until orders. Additionally, users can set price alerts.

General Ease of Use

The mobile app is the easiest platform to get started with. The download is simple and the navigation is user friendly with five categories shown at the bottom of the app that includes Portfolio, Watchlists, Markets, Alerts and more.

Watchlists can be created very easily, charts can be opened with just a few clicks and orders are easy to place. The portfolio and performance analytics section are also easy to understand and well explained.

Overall, the learning curve on the mobile app is small and it is a great place for newer traders to begin trading.

Tradable Instruments

How Do We Test A Broker's Tradable Instruments?
In this section, we check the broker’s market offering and how varied the instruments and asset classes are. It will allow you to check if they offer what you're looking for and what you can trade.

See More

With you can trade on more than 4,500 financial CFD instruments covering all the major asset classes including Forex, stocks, indices, commodities, bonds and cryptocurrencies

The range of instruments available to trade on is above the industry average. The Forex pairs include majors, minors and exotic currencies while commodities include metals, energies and softs.

The stock offering covers UK, US and European equities.

What are CFDs?

CFDs, or Contracts for Difference, is a derivative product that allows you to speculate on the price direction of a financial instrument allowing you to profit from rising and falling markets. You can also trade on margin which means you can control a large position with a smaller deposit, amplifying both gains and losses.

What Can You Trade with

With you can trade CFDs on:

  • 4,500 stocks
    • US (NASDAQ, NYSE), UK (LSE) and Europe (XETRA, Euronext)
  • 80 Forex pairs
    • Majors, minors and exotics
  • 39 Indices
    • Global cash and futures indices
  • 21 Commodities
    • Metals, energies and softs
  • 12 Bonds
    • US, UK and European
  • 9 Cryptocurrencies*
    • CFDs against USD, EUR and AUD.

*When trading with the FCA regulated entity, cryptocurrencies are only available to traders classified as a professional.

This is a great offering covering all the major markets across all the different asset classes. Many retail brokers would not offer bonds as they are not heavily traded by retail traders but mainly by professionals.

Below is a list of just some of the available markets for trading:

Stocks Forex
Barclays | Apple | Tesla | Coca-Cola | Nike EURUSD | EURGBP| AUDJPY | USDCHF | GBPCAD | AUDUSD | USDCAD
Indices Commodities
ASX 200 | Germany 40 | Japan 225 | UK 100 | Wall Street 30 | France 40 | Switzerland 20 UK Crude Oil | Gold | Corn | Platinum | Natural Gas
Crypto Bonds
Bitcoin| Litecoin | Ethereum Euro Bund | US 10 YR T-Note | UK Long Gilt

*Details regarding the available assets are taken from the trading platform and website and are correct at the time of this review. offers a great range of tradable instruments and the number of instruments available is well above the industry average.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% 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. Capital at risk

Customer Support

How Do We Test A Broker's Customer Support?
Traders tend to underestimate customer support, but it might be a crucial feature in moments of crisis. In our rating, we check the contact methods available, how accessible a live agent is and how helpful the responses are. This information will allow you to know if a broker can provide full support when you need it.

See More has a great live chat customer support service, operating 24/6 and with knowledgeable agents. They didn’t score maximum points in this section as it took quite a while to connect to an agent via phone. However, the live chat function was great and we were connected within seconds.

You can access customer support in a variety of languages which include English, Spanish, German, Russian, Polish and Arabic.

Why is customer support important? If you need help with your platform, or question a trade execution or have any administration issues you want to know that you can contact your broker as fast as possible when you want! Customer Support Test

Customer support is available 24 hours a day from 10 pm Sunday to 10 pm Friday UK time through live chat, phone and email. A contact form can also be found on the support section of the broker’s website.

In our live customer support test, we first called the telephone number which took 5 minutes to connect to an agent. Once we did connect to an agent, we felt they could have been a bit more helpful and instead referred to sections on their website when it came to asking technical questions.

However, we did find the live chat function to be much quicker taking around 50 seconds.

The live chat function uses a customer support bot that provides links to articles related to the question you ask but by typing ’agent’ the bot will connect you to either a sales or support agent. Live Chat Support Test Transcript Live Chat Support Test Transcript

Overall, the live chat customer support was very good and we found the agent to be knowledgeable across several topics. Responses were also quick and any questions were resolved with ease through accessing a live agent. The telephone support could have been much better.

Deposit and Withdrawal

How Do We Test A Broker's Deposit and Withdrawal?
The deposit or withdrawal process can be a tricky one. You may discover that there are hidden fees, or that withdrawal times are longer than you anticipated. We check these factors and others so you know what to expect when trading with this broker.

See More offers a variety of fee-free deposit and withdrawal methods including Visa, MasterCard, Maestro, Bank Transfer and PayPal in which most are processed instantly.

Additionally, multiple currencies are accepted including USD, EUR, CAD, JPY, CHF, AUD, GBP. However, this does depend on the funding method chosen. Deposit Methods

With you can deposit funds instantly and fee-free using a variety of methods. The methods accepted are debit/credit cards, bank transfer and Paypal. The below tables show their respective commission and processing times.

Method Commission Processing Time
Visa Free Instant
MasterCard Free Instant
Maestro Free Instant
Bank transfer Free 2-5 business days
PayPal Free Instant

* For all available deposit and withdrawal options refer to the broker’s Account Funding page. Withdrawal Methods

You can withdraw your funds from fee-free as well but the processing times do take slightly longer and in most cases will be within 48 hours.

Method Commission Processing Time
Visa Free 1-2 business days
MasterCard Free 1-2 business days
Maestro Free 1-2 business days
Bank transfer Free 1-2 business days
PayPal Free 1-2 business days

* For all available withdrawal options refer to the broker’s Account Funding page.

Account Types and Terms

How Do We Test A Broker's Account Types and Terms?
In order to achieve your trading goals, you need to choose the right account. We evaluate each broker's account types, how easy it is to open an account with them, and the steps involved, so you can decide if it is worth your time to open an account.

See More

There are three main account types offered by – Standard Account, MetaTrader 4 Account and DMA Account. Each account can be opened in just a few minutes with a very simple application form. The minimum initial deposit is £100. Demo and Islamic (swap-free) accounts are also available.

Typically, the Standard account or MetaTrader 4 account would be suitable for the majority of traders as they are commission-free accounts whereas the DMA account is commission-based but with raw spreads.

The DMA account is mainly geared towards professional traders as the minimum trade size is 1 lot compared to 1 micro-lot on the Standard account. Additionally, recommends an account size of at least £25,000 when using this account type.

Opening an account was a fast and simple process and only took us around 5 minutes.

Why is Choosing the Right Account Type Important?

The account you open will impact nearly every aspect of your trading. Different accounts will often have different fees, tradable instruments and platforms so choosing the right one for your own needs is important.

What Account Types does Offer?

The UK entity offers the following accounts with some of the features highlighted below:

Standard MT4 DMA
Platform Web Trader MetaTrader 4 MetaTrader 4
Commission Zero Zero $60 per million
Spread (from) 0.8 pips 0.7 pips 0.5 pips
Minimum Deposit £100 £100 £100
Leverage (up to) 1:30 1:30 1:30
Islamic Account Yes Yes Yes
Demo Account Yes Yes No

Source: (Stone X Financial Ltd)

The main difference between these accounts is the Standard account and MT4 account is commission-free which is aimed at retail clients. The DMA account is aimed at professionals who have much more capital to deposit.

Other differences also include minimum trading amounts. The Standard and MT4 account can be traded with micro-lots (1,000) whereas the DMA account has a minimum size of 1 lot (100,000).

The services available from’s other entities may vary. For example, while CFD trading is popular in Europe, Asia, Africa and South America, regulators in the United States do not allow CFD trading. Therefore, the US entities would not offer this.

What is CFD Leverage?

Leverage in CFD trading allows you to open a large position with a smaller deposit. For example, a 30:1 trading leverage means you can have $30,000 exposure with only a $1,000 investment. A 500:1 trading leverage means you can have a $500,000 exposure with only a $1,000 investment.

But leverage is a double-edged sword. It can amplify your winning and losing trades. This is one reason regulators such as CySEC, ASIC and the FCA cut the leverage brokers can offer retail traders – to make it safer for beginners.

How to Open an Account with

We found opening an account with was a fast and simple process. In fact, it took less than 5 minutes to open a Standard Account. Everything is done digitally so you can be up and running in just a few minutes.

Here is the step by step process we used to open an account with the UK regulated entity.

  • Step 1: To start the process you just need to input your country of residence, name, email, date of birth and phone number.
  • Step 2: Provide some more details about yourself including home address, country of citizenship and country of birth. Users will also have to confirm if they pay tax in more than one country.
  • Step 3: Fill in the application form which asks you for employment and income details, account base currency and trading experience.
  • Step 4: Submit ID and verification documents and wait to be fully verified which in our test was done in under 24 hours.

To withdraw funds you will also need to verify your identity which is standard procedure for regulated brokers. We found this process to be easy as you just need to upload proof of ID (passport or driver’s licence), proof of residence (utility bill or bank statement) and confirm your nationality.

You can upload your documents, manage deposits and withdrawals, access your trading accounts, manage account settings and more all through the client portal area. Client Portal Client Portal

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% 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. Capital at risk


How Do We Test A Broker's Research?
Research options provided by brokers may not be seen as the most important feature for some traders, but they can give you an edge over the competition. Staying on top of important market news announcements and being aware of big themes can be very helpful. The rating system provides a clear picture of how well your broker fulfills this service.

See More provides a great range of research which is better than the industry average. In this section, scored maximum points offering News and Analysis, Financial Market Insights, a Week Ahead report and Trade Ideas.

The articles included in these sections are comprehensive, well-written and are suitable for both beginners and more advanced traders. The news section is frequently updated and includes important headlines and stories from all across the globe.

Furthermore, the Analysis, Financial Market Insights, Trade Ideas and the Week Ahead reports provide clear breakdowns of various global markets and are written by’s team of experienced analysts, many of whom have several years of experience writing about financial markets.

From the Web Trader platform, you can also access additional research provided by third-party analytics company Trading Central. This includes market buzz, trading insights, trade analysis, analysis views and more.

Additionally, you can access SMART signals which highlight short term trading opportunities across major markets. Each signal is generated with a price level, take profit and stop-loss.

These tools are great for both beginner and advanced traders but there will be a learning curve if you’re unfamiliar with some technical analysis concepts. Trading Central Trading Central


How Do We Test A Broker's Education?
Educating yourself on how to trade the financial markets can make the difference between success and failure. We check the educational content provided by the broker, its quality and suitability for beginners and advanced traders.

See More scored close to maximum points in this section as they provide plenty of educational material suitable for both beginner and advanced traders. The material is high-quality and includes courses, platform tutorials, webinars and a glossary.

There are 12 courses available that include topics on Mastering Forex, Technical Analysis, Fundamental analysis, Advanced strategies and more.

Each of these topics is made up of several lessons averaging around 5 minutes in length and is tagged with a difficulty level – beginner, intermediate or advanced. Education Education

The platform tutorials are also a great resource to quickly learn MetaTrader 4, Web Trader and mobile apps. The videos are direct and only a couple of minutes long so are worth watching if you would like to get familiar with the trading platforms quickly.’s Head of Market Research also holds monthly webinars on non-farm payrolls which you can register to access. You will learn:

  • What the NFP numbers mean,
  • How to trade the market reaction
  • Effective Risk Management.

The videos also state they are suitable for beginners.

Additionally, unlike many other brokers, you can take a trading self-assessment to find out what educational level you should start at.

The assessment covers five questions asking your level of trading experience, what you would like to learn and a few test questions to assess your knowledge.

At the end of the assessment, you will be shown the recommended courses to take.

The Bottom Line

If you’re looking for a broker that provides low fees, a decent range of trading platforms and a variety of education and research materials suitable for beginners and advanced traders then could be for you.

The Web Trader platform was great to use and although there will be a small learning curve for beginners the platform tutorials really aid the learning process. Additionally, advanced traders can take advantage of the MetaTrader 4 desktop platform for expert advisors (algorithmic trading) and access to the MetaTrader marketplace.

The Web Trader platform also comes with additional trading tools and features such as SMART signals and a suite of Trading Central services. These can be largely beneficial to beginners but you would need to have some idea of technical analysis concepts.

We found there to be a great variety of education and research material that was suitable for traders at all levels. The courses are categorised by difficulty and there is also an assessment you can take to test your knowledge so you know what you need to improve on.

Overall, beginners can trade with low fees through the Standard or MT4 account but advanced traders with enough capital would benefit more through the DMA account.


Where is based? is based all around the world in the UK, USA, Canada and Japan.

Is safe?
Yes, is regulated by the FCA, FSC, NFA/CFTC and the IIROC among others.

How does make money? makes money through its trading fees such as spreads, commissions and swaps on certain trading accounts and platforms.

Is good for beginners?
Yes, beginner traders will find a lot of resources and help to support them.

How do I deposit in a account?
You can deposit funds via bank wire, credit/debit card and PayPal.

What is the min. deposit for
The minimum deposit is 100 GBP or equivalent.

How do I withdraw money from
You can withdraw funds via bank wire, credit/debit card and Paypal.

How long does it take to withdraw money from
Withdrawals are processed within 1-2 business days.

What is the max leverage in
For the UK entity (Stone X Financial Ltd) the max leverage is 1:30 for retail clients.

How do I open an account with
You can open an account with either entity in just a few minutes through the Create Account tab on the broker’s website.

What platforms does offer?
Their own proprietary Web Trader platform and MetaTrader 4.

Does provide a demo account?


CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% 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. Capital at risk

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Broker General Information
Trading Features
Other Details
Headquarters Country
United States
Foundation Year
NFA (United States), CFTC (United States)
Publicly Traded
Number Of Employees
Trading Desk Type
Market Maker
Trading platforms
MT4, MT5
Supported Languages
English, Arabic, Russian, Japanese
Min Deposit
Max Leverage
1:50 (NFA), 1:50 (CFTC)
Deposit Options
Wire Transfer, Credit Card
Withdrawal Options
Wire Transfer, Credit Card
Products (CFD)
Currencies, Commodities, Indices
Demo Account
Islamic Account
Segregated Account
Managed Account

Trade With A Regulated Broker