Streams FX Review – Facts You Don’t Know About The Company

Streams FX firm was operating under the ownership of Streams Financial Services Ltd. Apparently, this owner is running the eFinno brand currently, while the second domain, streamsfx.com, is nowhere to be found.

One of the most surprising things is that not many traders talk about this brokerage firm. Therefore, we are doing an in-depth analysis in this Streams FX review to prepare you for what’s coming.

Legal Info: Is The Company Regulated and Trusted?

The ownership of the brand used to belong to a CySEC-regulated entity. This means the company must provided some kind of protection, such as negative balance protection and compensation schemes. 

Yet, some investors may say this regulation is not as strict as the FCA, BaFin or ASIC. Generally, makes sense. But this regulation makes everything better compared to the companies that don’t have any. Thus, we are about to see if that licensing matters with this firm.

User Experience Reviews – What Others Think About The Company?

Generally speaking, neither Trustpilot nor Sitejabber have enough comments to make adequate decisions. The opinion is mainly split. In any case, not the best ones you could see, especially for a broker who has been in the business for more than 5 years.

But if you already have an opinion and experience with the company, feel free to share it with us.

Who Are StreamsFX Clients?

With its strict regulations, the company had the freedom to offer services anywhere. Yet, some countries have domestic brokerages with far better conditions and safety features. In any case, their clients mainly come from: 

• United States
• Brazil
• United Kingdom
• Canada
• Turkiye

Account Types Available With The Company?

The important advantage with this company is that they offer transparent retail accounts. They mainly differ from professionals in leverage and some minor benefits. In any case, higher levels don’t bring you some extraordinary benefits. 

To get started, it will take $500 for the first deposit. As a retail trader, you can choose:

• Classic
• Pro
• ECN

Trading Fees, Leverage and Commissions

The main thing with regulated brokerages is their generally low leverage. In fact, they can only provide 1:30 here for retail traders. Some brokerages offer a higher leverage, but only for professional traders.

As for the spreads, these are quite costly starting from 1.6 pips, with the industry average of 1.5. As for the commissions, you can expect a $3.5 – $4 commission on the Pro And ECN account.

Tradeable Instruments

Available offer often makes a huge difference for experienced traders. If these guys lack the opportunity to invest money, they would change a broker. But definitely not to AUXCapital swindler. 

In any case, you can choose:

• Forex – GBP/JPY, USD/HKD, EUR/HUF
• Commodities – Gold, platinum, silver
• Indices – S&P 500, ASX 200, BE 20
• Shares – American Airlines, Bank of America, Walt Disney
• Cryptos – BTC, XRP, LTC
• Bonds – US T-Bond, EU-Bond

What Trading Software You Can Use?

The company was offering a highly trusted MetaTrader 4. Generally speaking, that’s one of the most popular solutions nowadays, primarily because of advanced features like social and copy trading. Of course, the software is not the main point, but it could be very important in the broker choices.

Regardless of the software and regulations, you might opt for more advanced tools. Many traders prefer AI tools like AI Analysis Bot to maximize their results.

Can You Trade On a Mobile?

Apparently, the company offers a dedicated mobile app. Indeed, MetaTrader 4 is available for anyone. It doesn’t matter if they are using iOS or Android apps, they have their access. To see the relevance of a trusted mobile app, read our AnyCoin Capital review.

How To Get In Touch With The Broker?

As for the contact options, Streams FX only provides e-mail, phone and live chat. For some that might be enough, but some would require much more. For instance, Skype or anything similar. Unfortunately, their working hours 9 AM – 6 PM  (GMT+2) are irrelevant at this point as the company has been shut down. Therefore, you’ll have to be patient about their response.

On top of all, the company is running multiple social media platforms, such as Twitter, Instagram, Facebook and YouTube. However, we’re unsure whether they’re still responding on any of those.

Can You Expect Smooth Withdrawals?

Apparently, the company didn’t charge any withdrawals. Yet, there are up to 4% possible service fees. 

One of the worrying facts is the withdrawal processing time. It may take up to 8 business days (which might have changed when the firm became inactive). Considering brokerages are finalizing that in 24 hours, this is quite slow. All in all, there are companies and tools more reliable than this one.

Is It Possible to Make Money By Online Trading?

Making money trading is definitely possible. Otherwise, the business wouldn’t exist. The key is often found in a trusted brokerage and reliable tools. For instance, the combination of an AI Analysis Bot and a Tier 1 licensed brokerage is a perfect match.

You ensure that the trades you are making pay off but also that withdrawals happen. Which is the key to the business. Therefore, to find out the best pathway to success in trading, we suggest you talk to our experts. The first meeting is free of charge and doesn’t include any obligations. Book yours now before it’s too late!

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