PatronFX Experiences & Review
- Last Update: January 2023
Table of Contents
4.1 out of 5 stars (based on 18 reviews)
77.80% of retail investor accounts lose money when trading CFDs with this provider.
In this Review & Test we will report about our PatronFX experiences. We will go into the most important aspects and also offer the possibility for you to rate and comment
The most important facts about PatronFX
PatronFX is operated by Forex TB Limited, a Cyprus based investment company. It is authorised and regulated by the Cyprus Securities and Exchange Commission with CIF licence number 272/15. Forex TB Limited is registered at 45A Kratinou Street, 2040 Strovolos, Nicosia, Cyprus.
- Regulations: CySEC
- Service Phone: +357 2 526 2681
- Address: 45A Kratinou Street, 2040 Strovolos, Nicosia, Cyprus
| Minimum deposit in USD | $250 |
| Trade commission in USD | $0 |
| Withdrawal fee | 1 free withdrawal per month |
| Available trading instruments | 270 |
Your rating of PatronFX
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The most important facts about PatronFX
What we liked about PatronFX
In our PatronFX review we want to highlight these positive aspects: PatronFX offers a wide range of cryptocurrencies (more than 15 in total). These can be traded against EUR/USD/GBP. Commodity Traders will be happy that PatronFX offers a wide range of commodities/agricultural products, including even milk or rice. Their proprietary Webtrader is very intuitive and even easy to operate for most trading beginners, while still offering enough flexibility for professional traders. PatronFX offers free access to Trading Central for active clients. Additionally, clients are offered access to Market Buzz, Analyst Views, Featured Ideas, Economic Insight, Daily Market Analysis and a Web TV.
+15 crypto currencies
Crypto currencies tradable vs EUR/USD/GBP
Wide range of commodities CFDs
Learning materials
What we disliked about PatronFX
In our PatronFX review we want to highlight these negative aspects: The spreads for the Basic account could be lowered a little, as they are slightly above average. Overall we dislike the tiered account structure which became popular with most brokers in the recent years. If the account has been/is inactive for more than one month, inactivity fees of 80€ per month will be charged. Unfortunately, traders from Swiss are not able to trade with PatronFX.
Slightly above average spreads for Basic tier
Withdrawal fees / Inactivity fees
Tiered Account Structure
No traders from Swiss allowed
Comparison PatronFX vs. average Broker
- Information about the Ø Broker
Available Trading Assets
DAX Spreads
Gold Spreads
- How do I read the charts?
Which trading assets are available at PatronFX
PatronFX offers various asset classes and over 270 different trading instruments
These include, among others.
- +60 forex/currency pairs
- +12 Indices
- +7 Metals
- +10 Agricultural products
- +3 Energy
- +15 crypto currencies
- +170 shares
PatronFX Review, Experiences & Trading Conditions
Since the founding in 2015, PatronFX gathered a lot of attention from retail and professional traders alike all over Europe. Their proprietary trading platform (webtrader) is not only modern and intuitive but also suitable for beginners and professional traders alike. If you are new to trading or want to check their platform out before giving them a try you can take a look at their website- The webtrader is visible without logging in, and you can see all live prices of the available markets.
You can check the spreads in the webtrader or if you want to calculate the cost of an imaginary or planned trade, you can use their assets calculator. This gives you a direct insight into the cost structure of PatronFX. The cost/fee structure is tailored individually to the account tier. The tier depends on the size of your account.
There are more than 270 trading instruments available for PatronFX and several cryptocurrencies for crypto enthusiasts. In total 15 cryptocurrencies can be traded against USD/EUR/GBP. PatronFX’s website is new and well-designed and traders should find all the important information quite easily.
PatronFX offers a lot of additional trading features like access to TradingCentral, Market Buzz, Analyst Views, Featured Ideas, Economic Insight, Daily Market Analysis and a Web TV.
Due to new regulations of the Financial Conduct Authority (FCA), PatronFX is no longer offering CFDs on Virtual Currencies (Cryptocurrencies) for the residents of the United Kingdom.
Scalping allowed
Hedging allowed
Negative Balance Protection
Guaranteed Stop Loss
STP/DMA Execution
ECN/RAW Account
Deposit Bonus
Loyalty Bonus
Available Trading Software and Platform at PatronFX
PatronFX offers two seperate trading platforms, the MetaTrader 4 and their own Webtrader. Both are accessible via mobile, tablet and desktop.
While more experienced traders usually prefer the widespread MetaTrader 4 (MT4), we encourage traders to take a look at proprietary Webtrader from PatronFX. You can test the Webtrader directly on the website.
All important information like the spread, leverage, margin requirements or the point/pip value are directly visible. The smallest tradeable size would be 0.01. Especially beginners will should prefer the Webtrader over the MT4.
Available Accounts at PatronFX
PatronFX has a tiered account structure. The lowest tier or level is Basic followed by Gold and Platinum up to the highest level VIP. The minimum deposit is €250 or an equal amount in USD/GBP .
The differences and advantages of a higher tier can be seen in the following table.
| Basic | Gold | Platin | Vip |
| 250EUR | 25000€ | 100000€ | 250000€ |
| EUR/USD 2,8 Pips | EUR/USD 2,5 Pips | EUR/USD 1.9 Pips | EUR/USD 1.4 Pips |
| GBP/USD 3,1 Pips | GBP/USD 2,8 Pips | GBP/USD 2,2 Pips | GBP/USD 1,7 Pips |
| USD/JPY 3 Pips | USD/JPY 2,7 Pips | USD/JPY 2,1 Pips | USD/JPY 1,6 Pips |
| CRUDE ÖL 0,12$ | CRUDE ÖL 0,11$ | CRUDE ÖL 0,10$ | CRUDE ÖL 0,08$ |
| Market Buzz | Market Buzz | Market Buzz | Market Buzz |
| Analyst Views | Analyst Views | Analyst Views | Analyst Views |
| Featured Ideas | Featured Ideas | Featured Ideas | Featured Ideas |
| Daily Market Analysis | Daily Market Analysis | Daily Market Analysis | Daily Market Analysis |
| Web TV | Web TV | Web TV | Web TV |
| 1 free withdrawel | 1 free withdrawal per month | 3 free withdrawal per month | no fees |
Deposits and withdrawals at PatronFX
PatronFX deposits can be made through various payment providers. However, the information policy in this area is still rather poor. Possible deposit options are:
- Credit cards (Visa, MasterCard)
- Electronic payments (e-wallets)
- Bank transfer
If you have used up the free withdrawals, there is a service charge of €30 for bank transfers and 3.5% for credit cards.
Fund Security: PatronFX believes that account segregation is important to protect the privacy, funds and assets of the individual trader. In addition, funds are segregated from their corporate operating accounts and deposited in well-established international banks. PatronFX seeks the highest possible security.
Security: PatronFX uses the latest hardware and software to protect all data systems. Strict firewall rules and Secure Sockets Layer (SSL) software are used to protect all data during transmission. Transactions are moderated by Level 1 PCI compliance services to store and manage all your forms securely.
How is the service at PatronFX
Once you have funded your account, you will receive a personal account manager. If you run into problems or need urgent help you can contact the service of PatronFX in multiple ways.
- You can give them a call at +357 2 526 2681
- You can email them at info@patronfx.com
- You can use the Live-Chat
Is PatronFX regulated and secure?
PatronFX has an active CySEC license and is thus an EU regulated broker.
The website www.patronfx.com/eu is operated by Forex TB Limited, a Cyprus Investment Firm, authorized and regulated by the Cyprus Securities and Exchange Commission with CIF license number 272/15. Forex TB Limited is registered at 45A Kratinou Street, 2040 Strovolos, Nicosia, Cyprus.
You can find more information about the license and Forex TB Limited in general on the CySEC website.
Summary: Review of PatronFX
Summing up our PatronFX review we can especially recommend crypto and beginner traders to look at PatronFX. New traders should test patronfx.com on a free demo account before starting with a live account and check out the learning materials. Experienced traders will like the availability of the MetaTrader 4 as trading platform. Clients of PatronFX should also check out trading central and its features.
Highlight's of PatronFX
Free demo account for trading beginners
250€ minimum deposit
leverage up to 1:30 / professional up to 1:400
Cryptocurrencies tradable vs EUR/USD/GBP
How do you open an account at PatronFX
By regulation, every new client must go through some basic compliance checks to ensure that you understand the risks of trading and are admitted to trading. When you open an account, you will probably be asked for the following items, so it is good to have them handy: A scanned colour copy of your passport or national ID A utility bill or bank statement from the last six months with your address You will also need to answer a few basic compliance questions to confirm how much trading experience you have. It is therefore best to take at least 10 minutes to complete the account opening process. Although you can explore the demo account immediately, it is important to note that you cannot make any real trading transactions until you have passed compliance, which can take up to several days depending on your situation.
To open an account at PatronFX just press the button below
CFDs are complex instruments and involve a high level of risk due to leverage. 77.80% of 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.
