Forex Optimum Review
Forex Optimum, a Russian-Indonesian off-shore broker, has its headquarters in Moscow. Forex Optimum Group Limited, a broker with a shady history, is registered in Kingstown. Although the broker is not subject to any regulatory requirements, it is popular in Russia and Indonesia. This speaks well of its standing with user opinion benchmarks sites.
The group was founded in 2009 with the intention of offering specialized services to countries that didn’t have CFD trading access like the rest of the world. Forex Optimum focuses on expert advisors (EAs), education centres, analytics, personal trader and fund managers. The broker has diversified these services because he wants to be able to communicate with investors, managers, and retail traders in a unique way. This is in order for them all to work together towards a common goal: to create a bridge between traders and investors. Forex Optimum has created services that are unique to the industry.
Forex Optimum doesn’t have any content related to marketing on its website. The About Us page only lists 3 figures that aren’t important, along with additional features such as 24/7 support, Reuters news feeds, 24h Dow Jones, Reuters and TASS news feeds. That is it. Every page is a continuation of this minimal marketing concept, with a focus on facts and key figures. This can sometimes lead to a lack of transparency or a high level of information. However, this broker is different. We will assess the services, regardless of the ratings and reviews from users on the top-benchmarking websites, so that the reader can understand the risks, trademarks, and pros of Forex Optimum.
Account Types
Forex Optimum provides a clear table comparing the two types of account. The only differences between the Cent Account and Standard Account are the minimum deposit, and the fact that Cent Account counts as one currency unit. Therefore $1 is 100cents. The Cent Account requires a minimum deposit of just $1. There are no features available for this account. They can only be used by those with higher deposits.
Forex Optimum’s main goal is to trade in a real-money setting but with low risk. It offers a mix of live and demo accounts. This account type offers deposit bonuses. Standard Accounts require a larger deposit than the Cent. This account is classic and features high leverage, competitive spreads and more than 100 trading instruments. This account also offers a deposit bonus.
Forex Optimum offers a VIP service to high-stakes investors. VIP offers 3 packages: Classic, Gold, or Platinum. All VIP accounts have an “Accumulation Bonus On Deposit”, which is a percentage-based interest that accrues monthly on client funds. These conditions apply. The conditions apply. To qualify for the interest for the month, traders must meet the trading volume (based on the amount of funds available at the beginning of a month + credit bonuses)*2/1000.
Forex Optimum
Only Forex and Metals trades are included in the count. They must be at least 2 minutes long and have a 0.05% price change. For the month in which a withdrawal is made, the interest is null. Classic VIP earns 2%, Gold earns 2.17%, and Platinum earns 2.33% each month. VIP traders also get a 20% rebate on Swap payments and cashback on spreads under the same conditions as the Accumulation Bonus on Deposit. All VIP packages come with free training and a personal account manager for Platinum and Gold Accounts.
It’s very interesting to note that the broker offers Bitcoin-based accounts. They can be set up in micro BTC (0.000001 BTC). This account cannot be created until you register for all types of accounts. You can also find the Standard Account and the Cent account with swap-free accounts. A BTC-based account is very appealing to many traders. We are not sure if this lack of marketing was intentional or simply a missed opportunity. Trading styles are not restricted. Hedging, scalping, news trading and EAs are all allowed.
Platforms
Forex Optimum can only be used as a MetaTrader4 platform broker. The website does not have all MT4 versions. Downloads are not available for Mac and desktop PC. Once registered through the Clients Portal, mobile and web versions are available. The dedicated page contains detailed instructions and screenshots that will help you install the platform. The MT4 client has been updated to the most recent version. Forex Optimum servers can be found quickly, with a ping of approximately 80ms. Everything is set to default settings, settings, and chart layout. This shows the 4 major Forex pairs in the H4 timeframe.
Leverage
All account types have a leverage of 1:1000. High leverage is possible in areas where regulations are not strictly enforced. It allows for more experimental trading, particularly with Cent Accounts. Investors and traders who trade for a longer time rarely require leverage greater than 1:200. This leverage is beneficial to high-risk day traders who can boast about their profit rates while managing other investors’ accounts, or for copy trading. In the long term, it is nearly impossible to sustain a ROI of 100, 200% per months. These figures are often promoted to attract unsuspecting investors. Similar numbers are available on the Forex Optimum site.
BTC/USD leverage is 1:10. This is higher than normal, but there are some limitations that will be discussed in detail in the next section. LTC/USD is 1:5 like all other cryptocurrencies. Spot Gold, other metals and Oil have 1:100 leverage. Oil has 1:50.
Trade Sizes
Standard Account trade sizes are measured in micro-lots, or 0.01 lots. The Step Volume is also 0.01 lots, while the maximum trade size is 40 lots. The Stops level for Forex majors is 40 points. This means that any Stop Loss or Take profit orders must be placed at 4 pips from the current price. Some currency pairs may have different stops levels. For example, EUR/NZD is 80 points; GBP/NZD 120 points; CAD/JPY 50 points. These levels are not important for traders who trade for longer periods of time, but they may be for traders who do not hold trades for more than a few minutes. The maximum trade size for Forex exotics, as defined in the MT4, is 20 lots. Stops levels are also higher. USD/RUB, EUR/HUF, and CHF/SGD have 10.000 point stops levels, respectively.
Trade Sizes
Energy has the same micro-lot trade size and steps with the maximum trade allowed at 20 lots. They have Stops levels of 30 points. Metals can trade at the same size as energy with Stops levels of 200 points for gold and 100 for silver. BTC/USD’s minimum trade size is 0.01 tons and steps volume is 1000 lots. This instrument has Stops levels that are no lower than 3000 points. ETH/USD Stops levels are at 2 points with identical trade sizes. The 600 point Stops Level for XRP/USD is an inconvenience to SL/TP orders.
All the relevant trading information is included in the instrument specification. Although the symbols are classified, some categorizations have no clear meaning, such as “CFD-ADR”. Execution times varied between 300ms to 370ms, with an average of 341ms. Forex Optimum has been declared STP by its product offering. This means that execution times can vary between 300ms and 370ms with an average of 341ms. Some of our orders were reported as “off-quotes”, which indicates liquidity problems. Trade Terminal also displays the commissions and swaps on the demo account.
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