|Minimum deposit in USD||$250|
|Trade commission in USD||$0|
|Withdrawal fee||1 free withdrawal per month|
|Available trading instruments||270|
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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.
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.
PatronFX offers various asset classes and over 270 different trading instruments
These include, among others.
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.
Negative Balance Protection
Guaranteed Stop Loss
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 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.
|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|
PatronFX deposits can be made through various payment providers. However, the information policy in this area is still rather poor. Possible deposit options are:
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.
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.
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.
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.
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.