DirectFx Review

MIN. DEPOSIT $100 (MT4); $500 (CQG)
Up to 400:1
No BONUS
0 Users (0 votes)
Odds0
Services0
Support0

Overview

Company Information Direct Fx is an Australian Forex online trading broker who started its operations in 2006. The brand is the property of Direct FX Trading Pty Ltd, and their… more

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Details

BrokerDirectFx
Website URLhttp://www.directfx.com/
Founded2006
HeadquartersSydney, Australia
Support Number+61 2.8038.5093
Support Emailsupport@directfx.com
Support TypesPhone, E-mail, Live Chat, Skype
LanguagesEnglish
Minimum 1st Deposit$100 (MT4); $500 (CQG)
Minimum Trade Amount0.01 lot (MT4); 0.10 (CQG)
BonusNo
PayoutUp to 400:1
Free Demo AccountYes
Regulated Yes
RegulationAustralian Financial Services
Account TypesMT4, CQG FX
Deposit MethodsNeteller, Bank Wire, Skrill, UAE Exchange
Withdrawal MethodsNeteller, Bank Wire, Skrill, UAE Exchange
Types of AssetsForex, CFDs, Gold and Silver Trading, Binary Options, Equities, Futures
Account CurrencyUSD, AUD, EUR
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

Direct Fx is an Australian Forex online trading broker who started its operations in 2006. The brand is the property of Direct FX Trading Pty Ltd, and their headquarters are located in Sydney, Australia. It is a regulated broker registered by ASIC under license number 05539. With almost a decade of business in the online Forex trading industry, this company is famous for its transparency and innovative approach. They expanded in several other countries and had offices and other operations in the United States and New Zealand. It is an STP broker that offers direct liquidity from top tier banks and excludes the conflict of interest between broker and clients. The main traits of the company are their tight spreads and fast execution. Dealing with this broker is a very pleasant experience, and their overall performance is reviewed highly by financial magazines. Let’s see what they have to offer regarding instruments and features.

Trading Information

Having the tightest spreads in this industry is almost an impossible task, but DirectFX has done their best to provide them to their clients. Spread type is variable, and majors like EUR/USD go from 1,8 pips to a 1,6 pips minimum. Leverage is set to 1:400. Trading instruments at this broker are Forex, oil, futures, precious metals, CFD’s, Stocks and indices. There are over 40 currency pairs you can deal with, and most of them have excellent spreads. DirectFX offers only one type of Forex account that requires a minimum deposit of $250 for their MT4 platform and $500 for the CQG FX platform. Additionally, you can choose to make a Joint, Company, Individual or Trust or Superannuation Fund account. There are no PRO or Platinum versions of the account, but there are VIP options. Hedging and scalping are allowed but there is, and there is Islamic account support.  One-click trades, the trade off charts, trailing stop order, pending orders and email alerts are supported.  PAMM and MAM solutions are available. Overall, all the needed trading instruments and features are available. But let’s see what’s going on with the platforms.

Trading Platforms

Like almost every self-respected online broker DirectFX doesn’t make the exception in offering the most famous platform the MT4. It’s been proven throughout the years to be very stable and secure. It works with most mobile devices and is very easy to understand and use. The next platform option offered by DirectFX is another interesting choice. Tradable is a platform that is powered entirely by apps. You can go to their Application Store and choose all the bits and pieces of trading information you need. There are free and premium features that you can use. Of course, a demo version is provided for traders to test all the customizations and flexibility of this platform. It’s an interesting choice for sure, and it’s worth to try it. Last but not least there’s the CQG advanced platform. It’s only available for a higher deposit and is not for suitable for beginner traders. This platform has been developed with the help of futures and options expert traders. It provides a superb Forex trading experience to dealers and has superior charting capabilities. There is a free trial you can use to test it out and see if this is the type of trading terminal that suits your needs.

Security and Customer Services

Online security is most important nowadays and the people from have tried their best throughout the years to provide it. Opening a new account is a three-step process where you fill out your details on an SSL encrypted page. The option of having a segregated account is also a step further into a safe experience for the clients. As far as customer support is concerned there are almost no complaints about it. You can contact the company’s representatives 24/5 are many ways to contact them. You can send an email, call them on the phone or use their Live Chat option. Response times are quick, and you’ll get an almost instant answer to your questions. Language support could have been a bit better as the only available one for the site is English. There are however Chinese-speaking representatives of the company which makes the customer support languages two. Their educational resources also need a bit of work but there are some, and you can understand the basics of trading easily.

Deposits and Withdraws

The banking methods that Direct FX offers are many, and there’s no need to mention them all. The usual credit/debit card options are available with bank transfer also present. Digital wallets are also supported. There are no specified deposit fees on their site with processing times depending on the chosen banking method (from instant to a couple of days). Withdrawing money can be made the same way you deposited the funds. There’s a particular paragraph which states that you can withdraw 24/7 with no limits at all. Withdrawal processing times are quick with 1-2 days of waiting for the funds to be credited.

Deposit Bonus and Loyalty Programs

On their site, there is a mentioned “September 2014 Trading Bonus” which looks very nice, but I doubt it still valid. It’s up to $1000 in bonus credits but you might want to double check on that and if it’s still offered today (the page is not removed, so there might be something to this). DirectFX is known for holding various trading contests throughout the year with many prizes for regular and VIP clients. When you’re thinking about making an account, there just ask the customer support unit if there is an active promotion for your country.

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