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5/10
Overall Rating

flatex Review

flatex is brand of FinTech Group Bank AG which is a German public company, offering online brokerage and banking services. flatex is the online broker where traders can trade forex and CFDs, but also invest in ETFs and Bitcoins. Is flatex scam or reliable? Give your rating in the section below. This is a free directory listing of German Forex broker flatex. Therefore, the information about the flatex review is limited.

Overview

Company
5/10
Trust
5/10
Trading Platform
4/10
Account Types
5/10
Cryptocurrency
5 /10
Costs
5/10
Customer Support
2/10
Regulation
2/10

Based on our readers-first policy, putting their safety as a priority in our business line, we, as AtoZ Markets, scrutinize not only the broad headline with which a brokerage platform identifies itself, but even the smallest details about it.

This comes from our belief in values in the first place, and the must-have truth and transparency in what we publish on our website, en route of keeping the trust our readers put in us, which of course has contributed much to our name and stands behind its continuous ascendance.

For the above mentioned, we stand on our toes checking all the ins and outs in a broker’s business history, biography and reputation, when it comes to presenting our audience with an overview about a brokerage firm. In this review, we will dive in depth of flatmax. 

Company

5/10

flatex was founded in April 2006 under FinTech Group Bank AG which offers FX trading to private investors, including stock market information and tools as well as price and service conditions were extensive, but they were also confusing and difficult to understand. The company is located in Ekkefried-Caspar-Baumann-Straße 8a (662.69 mi) Kulmbach 95326, Germany. 

PROS
No initial Deposit
Low spread
Fully digital account opening but only for German clients
CONS
Complicated account opening for non-Germans
Only bank transfer is available for deposit and withdrawal
Services are only in German
Low Leverage
Not Regulated by strict regulated broker such as FCA, CySEC, AISC etc
High financing, US stock fee and forex fees
Slow account opening which is not online.

Trust

5/10

Trading Platform

4/10

According to their official website, flatex provides web trading platform and the mobile version of WebFiliale which is available both on iOS and Android. flatex offers a desktop trading platform with advanced features and many customizable options. However, the platform is not user-friendly and is recommended only for the advanced trader.

Account Types

5/10

flatex clients can open different accounts: individual, joint, and corporate accounts. There are also different accounts based on tradable products and available trading platforms which provides stocks, ETFs, funds, forex and bond to trade.

At different account types, you can use different web trading platforms:

  1. Flatex WebFiliale web trading platforms for cash and securities accounts.
  2. MetaTrader 4 web trading platform for FX account.
  3. CFD web trading platform for CFD account.

Cryptocurrency

3/10

As other brokers in the market provide at least top cryptocurrencies to trade, however, flatmax is limited with Bitcoin only. 

Costs

5/10

Customer Support

2/10

For most of the European countries, it is possible to open an account in flatex, however, a client needs to know good German to talk to their customer support team. 

Regulation

2/10

flatex is a brand of FinTech Group Bank AG, which is a public company, listed on the Deutsche Borse, that holds a banking license in the Bundesrepublik. Although, it is not regulated specifically by any of the major forex industry regulators, such as the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK or the Australian Securities and Investments Commission (ASIC). Choosing to trade with a soundly regulated broker is crucial for the security of any investment.

Conclusion

flatex was founded in April 2006 under FinTech Group Bank AG.  Based upon AtoZ Markets Team research, it is hard to say flatex forex broker is a reliable forex broker for the forex traders keeping trading platform, complicated account opening, low leverage, customer service for overseas clients into account. We do not recommend to open an account if you do not speak German since the account opening, web trading platform, telephone customer service, and a lot of other services are in German. This is very interesting since you can reach their website also in English. It is not fully clear for this why do they maintain an English website as well.

Reviewed By

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