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Who are they?
Falcon Brokers was founded in 2010 to target mainly the Arabic and Islamic countries. They operate from their headquarters in Limassol, and they are allowed to conduct business in 29 European countries and 94 countries worldwide.
The company is primarily regulated in Cyprus where their headquarters is. They are also registered with the FCA in the UK, and the European MiFID.
Falcon Brokers homepage is clear and gives a comprehensive idea about their services. They offer trading services in Forex, commodities, metals which will total only to twenty pairs giving an idea about their specialty and decency.
When the client first signs to Falcon Brokers’ services, offers will prove to to the client that they are a stable broker, however, not a big one. On the contrary, some traders say that the company is successful and they built a good brand for themselves.
The company is primarily regulated in Cyprus where their headquarters is. They are also registered with the FCA in the UK, and the European MiFID.
Falcon Brokers homepage is clear and gives a comprehensive idea about their services. They offer trading services in Forex, commodities, metals which will total only to twenty pairs giving an idea about their specialty and decency.
When the client first signs to Falcon Brokers’ services, offers will prove to to the client that they are a stable broker, however, not a big one. On the contrary, some traders say that the company is successful and they built a good brand for themselves.
Review Overview
Compliance to Different Authoroties
Speed and Ease of Procedures
Platform Execution
Technology and Facilities
Customer Support and Offers
Recommended!
From the first impression, Falcon Brokers don't look to have anything exciting to offer. However, they might be the only Forex broker that are honest and straight forward in their business practices.
How do they help me learn?
Falcon Brokers education material in not comprehensive by any means, but they included some information that most other brokers tried to hide. Most of those material doesn’t belong nor written by them, but it shows their business model and how they adhere to rules and regulations. The education section on their website offers the following:
- Introduction from ESMA – Falcon Brokers begins the educational section with a document from the European Securities and Markets Authority directed towards the novice trader’s, which gives the new trader an unbiased introduction to the world of trading, detailing the perils as well as the potential rewards.
- Calculators – Which is only a chart to display the daily, weekly and monthly pivot points for all the currencies available to trade with Falcon brokers
- Platform Tour – Which is a basic tutorial on the look and functions of the MT4 trading platform. It’s very much a tour around its functions and interface, which is essential for the client and definitely an advantage compared to other tutorials from other competitor.
- A Glossary of Technical and Fundamental Indicators – Which was the most important in our experience. It covers most of the terms and vocabulary fused in Forex Trading. Non of the terms listed in the glossary, which spans over twenty plus pages go into much detail explaining those terms. nevertheless, there’s certainly enough information for beginners.
How is the clients support service in general?
Tucked away in a hidden corner of the home page are the contact details for Falcon Brokers. You can telephone or email. Our emails were answered within one to two hours and the replies covered the queries adequately. There’s a Live Chat option which was opened almost immediately when clicked on. Questions took some time to answer and they indicated that live chat personnel are experienced, but they not as informative on advanced subjects as much.
English is the major language for Falcon Brokers. The website is available in Arabic, Chinese and Russian.
English is the major language for Falcon Brokers. The website is available in Arabic, Chinese and Russian.
What does the industry say?
This must be the first broker we’ve come across that doesn’t boast any awards. However, anyone who has been long enough in the industry knows that they reaped more awards than older brokers.
The point that really stand to support this broker was the absence of negative feedback, as well as positive ones, which doesn’t seem to exist. Most probably because of their limited time in the industry, therefore their operations and experience is typically in line with their plans.
The point that really stand to support this broker was the absence of negative feedback, as well as positive ones, which doesn’t seem to exist. Most probably because of their limited time in the industry, therefore their operations and experience is typically in line with their plans.
How safe is my money?
Falcon Brokers (UK) Limited is authorized and regulated by the Financial Conduct Authority in the UK and by CySEC in Cyprus. They maintain separate accounts for clients and are audited by Deloitte’s, one of the world’s most respected accountancy firms.
What platforms does Falcon Brokers offer?
Falcon Brokers offers MetaTrader4 and the less widely used MetaTrader5. They is available in both their versions, desktop and mobile versions. Falcon Brokers also offer their own platform; Cheetah5 which is somehow similar to to MT5 and offers auto-charting.
The Cheetah platform, which is Falcon Brokers’ solution for a web based platform, has the basic features of any platform as well as trading in Options, which is an advantage to Falcon Brokers. As soon as the client logs on to Cheetah, The client will also realize the difference between Cheetah and other systems. The Cheetah platform offers advanced order execution, advanced chart displays, advanced pattern recognition systems, more pairs and live analysis which will include thousands of financial data for the perusal of the client. The platform boasts connections to sixty exchanges worldwide. The development work on the Cheetah Platform is concrete, and indicate its’ strength when compared to other platforms offered by other brokers.
The Cheetah platform, which is Falcon Brokers’ solution for a web based platform, has the basic features of any platform as well as trading in Options, which is an advantage to Falcon Brokers. As soon as the client logs on to Cheetah, The client will also realize the difference between Cheetah and other systems. The Cheetah platform offers advanced order execution, advanced chart displays, advanced pattern recognition systems, more pairs and live analysis which will include thousands of financial data for the perusal of the client. The platform boasts connections to sixty exchanges worldwide. The development work on the Cheetah Platform is concrete, and indicate its’ strength when compared to other platforms offered by other brokers.
What about their trading conditions?
The Standard account requires a minimum deposit of only $200. ECN accounts minimum deposit is $2000, whilst the Professional account needs $100,000, which is quiet a difference in our point of view.
Leverage is modest at 1:200 on Standard and Professional accounts, and set at 1% on ECN accounts.
The company’s business is targeting the Middle East mainly, which is why Falcon Brokers doesn’t charge swap fee or “roll-over fee” on neither the Standard and Professional accounts, which is again a major advantage to this broker. Lot sizes vary from 0.01 of a lot 25 lots, which is the maximum per one order.
The company allows the use of Expert advisers. But since they don’t offer access to a social trading network or a library for EA’s, they suggest that you can employ your own, which is a major indication of how decent this broker is.
It seems that there might be slippage or re-quote problems with Falcon Brokers since they require pending orders to be placed 5 pips away from the current market price, and depending on the pair being traded. Again, that’s a plus point for their honesty.
Leverage is modest at 1:200 on Standard and Professional accounts, and set at 1% on ECN accounts.
The company’s business is targeting the Middle East mainly, which is why Falcon Brokers doesn’t charge swap fee or “roll-over fee” on neither the Standard and Professional accounts, which is again a major advantage to this broker. Lot sizes vary from 0.01 of a lot 25 lots, which is the maximum per one order.
The company allows the use of Expert advisers. But since they don’t offer access to a social trading network or a library for EA’s, they suggest that you can employ your own, which is a major indication of how decent this broker is.
It seems that there might be slippage or re-quote problems with Falcon Brokers since they require pending orders to be placed 5 pips away from the current market price, and depending on the pair being traded. Again, that’s a plus point for their honesty.
How much will it cost me?
Depending on the account type you can have fixed or variable spreads. The Standard and Professional accounts have fixed spreads from 1 pip on the Professional and from 2 pips on the standard account, which is excellent in both cases. The ECN account has variable spreads by default. None of the accounts incur commission charges. Deposits are credited as soon as they are received by Falcon Brokers which depends on your bank or payment method, usually in 2 business days. They accept bank transfer, plastic or electronic wallet methods for deposits. They’re also promise same day processing of withdrawals. Simply outstanding!
Any special deals?
As expected from any respected broker, Falcon Brokers don’t offer promotions to attract new business nor do they have trading competitions, which in our experience are designed to attract clients using false statements and promises.
The bottom line
Falcon Brokers states on their website that their intention is to offer steadiness and reliability, which is in our experience true 100%. Their mission statement sets out their aim to offer the best in personalized, informed, honest customer service, which is as important to the trader as order execution and trading conditions, which set the company as a first choice available to the client when considering a Forex Broker. They offer a small range of instruments to trade in, their trading conditions are acceptable, client service is outstanding.
