SunBirdFX Review

SunBirdFX

* Ranked #17 of 315 in DailyForex's top broker list

Info

Name : SunBirdFX
Website : sunbirdfx.com
Established : 2005
Country : United Kingdom
U.S. Clients Allowed : No?
Due to strict US regulation many brokers aren't able to accept traders with US citizenship.
See our list of recommended brokers that do accept US traders.

Advantages

  • Choice of Account Types
  • Several Trading Platforms

Disadvantages

  • No Regulation
  • Few Bonuses and Promotions

SunBirdFX Review

SunBirdFX Review

Sunbirdfx was founded in 2005 and is headquartered in London, UK. Sunbird is a Forex and CFD broker and a no dealing desk (NDD ) broker where traders can connect directly with international banks through an ECN for the best price feed regardless of account size.

Accounts

Sunbird offers its traders a choice of three different trading accounts each with either variable or ECN spreads and with different welcome bonuses. Leverage of 1:200 is offered for all three.

SunbirdFX Account Types
SunbirdFX Account Types

The Standard account requires a deposit of $1000 and receives a welcome bonus of between 30%-50%. The Pro account can be opened with $5000-$15000 and a bonus of up to $5000 is awarded. More than $15,000 opens a VIP account with a welcome bonus of up to $5000. ECN accounts are not entitled to all the bonuses.

There is also an Islamic account for those who follow Sharia law and are not permitted to receive interest on overnight positions. An Islamic account can be opened with $1000 and are available with any of the three accounts.

A demo account can be opened using any of the accounts. Anyone with $30,000 or more can open a managed account.

Features

The Sunbird website is quite standard. There are over 200 trading instruments to choose from including commodities, CFD's and Forex from all over the world.

Sunbird accepts all types of traders, including scalpers. Their ECN platform allows traders to close a CFD position quickly.

Traders can choose to trade commodities such as gold, oil, and silver. There are no limits on order placements, stop loss and profit taking is available and there is leverage up to 100:1.

Unlike currencies, which are traded in pips commodities are traded in points (USD). The spreads are low but not the lowest in the industry.

Despite the fact that Sunbird offers their traders a choice of several different trading platforms it would have been nice to see a single page that could help the trader see all of his options at a glance. Many other brokers offer this type of comparison chart. Instead of this, each designated registration page lists with bullet points the benefits of a specific trading platform, a method which is not always the most advisable one to use.

Sunbird’s autotrading platforms are not currently available, but from what I was led to believe when doing this review, they have been promised now for some months and have still not materialized.

Education

The education center at Sunbird includes pretty standard fare-instructional videos for both beginners and advanced traders, videos and tutorials that provide guidance for the installation and use of the MetaTrader4 trading platform. The videos can shamefully, only be viewed by account holders after they have logged into the site which is quite frustrating to someone who is not yet opened a trading account.

SunbirdFX Courses
SunbirdFX Courses

Two ebooks are offered—one for beginners and one for advanced traders. Again, these can only be accessed by Sunbird account holders after they have logged in.

Additional market tools include an economic calendar, articles and an in-depth daily market analysis.

Four live calculators are available—Pivot, Fibonacci, Deal Size and Pip.

SunbirdFX Calculators
SunbirdFX Calculators

Deposits/Withdrawals

Sunbird accepts funding via credit cards, bank wires from around the globe, and alternative deposit methods such as Qiwi, Webmoney, Moneta, CashU and others.

Withdrawals can be made at any time using the same methods.

Customer Support

Customer support is available 24/5 in several languages. Representatives are available 24/5 by telephone.

Chat is offered but only at certain trading hours.

Conclusion

Sunbird has been operating on a small scale for the past five years and has only recently expanded to cater to Forex traders worldwide. It is a shame there is no regulation and the fact that there are no bonuses or promotions is disappointing as it is a feature that most brokers would not do without.

Advantages

  • Choice of Account Types
  • Several Trading Platforms

Disadvantages

  • No Regulation
  • Few Bonuses and Promotions

Review info: SunBirdFX
Review Date:
Rating : 2
Reviewed By :