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PatronFX, like its predecessors and like FXTB, also offers a wide range of crypto currencies. These can be traded against EUR/USD/GBP. PatronFX also offers a wide range of commodities/agricultural products, including even milk or rice. The Webtrader is very clearly arranged and understandable for most trading beginners. PatronFX offers free access to Trading Central.
In our opinion PatronFX has more disadvantages than advantages over other brokers. The spreads, i.e. the trading conditions, are worse than with the average broker. This is even the case with gold and platinum accounts. The account structure serves as an incentive for customers to deposit as much money as possible. Comments on our German BrokerCheck website indicate that clients of PatronFX receive unwanted phone calls.
If there have not been enough trades and the customer pays out money, there can be up to 80€ fees.
If the account has been/is inactive for more than one month, inactivity fees of 80€ per month will be charged.
Available Trading Assets
DAX Spreads
Gold Spreads
PatronFX offers various asset classes and over 270 different trading instruments
These include, among others.
PatronFX has together with FTXB strong similarities to Investous and 24Option (which got shut down after their license problems). PatronFX has a similar trading platform/webtrader as 24option. On the website you can view the Webtrader without logging in and see all prices/spreads in live trading. This gives you a direct insight into the cost structure of PatronFX. There are several crypto currencies on offer. In total 9 crypto currencies which can be traded against USD/EUR/GBP. The fee model is adapted to the account size and (of course) favours larger accounts. PatronFX’s website is new and modern, as you can see from the layout.
Scalping allowed
Hedging allowed
Negative Balance Protection
Guaranteed Stop Loss
STP/DMA Execution
ECN/RAW Account
Deposit Bonus
Loyalty Bonus
PatronFX also cuts down on information about the trading software it offers. You can trade either via the MetaTrader 4 (MT4) or via the PatronFX Webtrader. Mobile trading is also possible via the MT4 or Webtrader. Further information is not available. You can test the Webtrader directly on the website.
The account structure is simple. The more money you deposit the better conditions you get. The lowest level is Basic followed by Gold and Platinum up to the highest level VIP. The different advantages and disadvantages 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 |
PatronFX deposits can be made through various payment providers. However, the information policy in this area is still rather poor. Possible deposit options are:
However, the payouts are not free for Basic members. There is a charge of 30 € for bank transfers and 3.5% for credit cards.
As PatronFX is a new broker, we cannot provide any reliable information here. However, customer feedback from our german BrokerCheck website indicate that customer feedback is very mixed. It remains to be seen how the service here develops before we have more experience of PatronFX.
PatronFX / Forex TB Limited is authorised and regulated by the Cyprus Securities and Exchange Commission with CIF licence number 272/15.
The licence is currently active and does not have license problems.
In summary, PatronFX can be described as a sub-average broker. The fees are above average and the distribution structure is completely geared to customer deposits, which is evident in the account structure. Since the licence of the predecessor brokers was also partially or completely suspended by the CySEC, we advise caution.
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.
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There is always a relationship between high returns and high risks. Any type of market or trading speculation that could generate unusually high returns is also exposed to high risk. Only excess funds should be exposed to the risk of trading, and anyone who does not have such funds should not participate in trading leveraged products, futures, CFDs and forex products or the like. Trading foreign exchange and futures or CFDs on margin is associated with an enormous risk of loss and therefore not suitable for every investor! TRADE-REX assumes no responsibility for any losses or profits.
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