streamsfx.com is owned and operated by Streams Financial Services Ltd under the trading name E.E. StreamsFX (streamsfx). Streams Financial Services Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 376/19.
Customers can trade over 25 currency pairs, 4 commodities and 4 indices through one of the most popular platforms over the world – MetaTrader 4 (MT4). MetaTrader 4 is used by millions of users, offers a user-friendly interface and many features for all traders. Through interactive diagrams, analytical objects, and other technical indicators, MT4 provides all the key functions for complex customization of the interface. The terminal can be accessed both from desktop PCs and mobile devices.
There are three types of trading accounts. The Classic account requires an initial sum of USD500. The spread for the EUR/USD pair starts at 1.6 pips and trades are commission free. The Pro account requires a minimum USD500 to open. Spreads start from 0 pips at the expense of the USD4/lot commission. You must invest at least USD20,000 to open an ECN account. The spread is close to zero and the commission is USD3.5 per lot traded. The company uses a Straight Through Processing (STP) model to execute orders in all types of accounts.
The Client Agreement document shows that retail clients are covered by negative balance protection. This means you will never lose more than you have in your account. The document reveals that all orders are subject to slippage. It is written that orders are executed immediately at the best available price in the system if the slippage is within the range specified. Take profit orders, stop loss orders, and limit orders are executed at first available market prices. This means stop loss orders are not guaranteed and the realized loss could be larger than set in the order. The same document informs that the company shall arrange for the execution of client orders with another entity (the Execution Venue) and shall not act as principal but as an agent in relation to the client. This means streamsfx uses the Straight Through Processing model to execute client orders, as stated in the account explanation. This means a conflict of interest will not arise because the company gains from the volumes traded regardless of whether the client wins or loses.
We can conclude that although the company is well-regulated and complies with the ESMA’s requirements, offered trading conditions are not so competitive – spreads are relatively high, initial sum to open a live account is also higher than usual and there are only few instruments offered for trading. However, the company provides negative balance protection and it uses an STP model, so there wouldn’t be a conflict of interest.