PatronFX

Table of Contents

PatronFX
4.1
Rated 4.1 out of 5
4.1 out of 5 stars (based on 18 reviews)
Excellent67%
Very good6%
Average5%
Poor17%
Terrible5%
77.80% of of retail investor accounts lose money when trading CFDs with this provider.

PatronFX Experiences & Review

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.
PatronFX review highlights
Minimum deposit in USD$250
Trade commission in USD$0
Withdrawal fee1 free withdrawal per month
Available trading instruments270

Your rating of PatronFX

PatronFX

If you know this broker, please leave a rating. You do not have to comment to rate but feel free to comment if you have an opinion on this broker.

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

Available Trading Assets

DAX Spreads

Gold Spreads

Which trading assets are available at PatronFX

phantomFX trading assets

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

patronxfx review

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

phantomFX trading platform

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.

patronfx webtrader

Available Accounts at PatronFX

patronfx-close-account

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.

BasicGoldPlatinVip
250EUR25000€100000€250000€
EUR/USD 2,8 PipsEUR/USD 2,5 PipsEUR/USD 1.9 PipsEUR/USD 1.4 Pips
GBP/USD 3,1 PipsGBP/USD 2,8 PipsGBP/USD 2,2 PipsGBP/USD 1,7 Pips
USD/JPY 3 PipsUSD/JPY 2,7 PipsUSD/JPY 2,1 PipsUSD/JPY 1,6 Pips
CRUDE ÖL 0,12$CRUDE ÖL 0,11$CRUDE ÖL 0,10$CRUDE ÖL 0,08$
Market BuzzMarket BuzzMarket BuzzMarket Buzz
Analyst ViewsAnalyst ViewsAnalyst ViewsAnalyst Views
Featured IdeasFeatured IdeasFeatured IdeasFeatured Ideas
Daily Market AnalysisDaily Market AnalysisDaily Market AnalysisDaily Market Analysis
Web TVWeb TVWeb TVWeb TV
1 free withdrawel1 free withdrawal per month3 free withdrawal per monthno fees

Deposits and withdrawals at PatronFX

phantomFX deposit withdrawel

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 regulation

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.

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