Direct FX Review
- The company is regulated by the Australian Securities and Investment Commission (ASIC), a top-tier regulatory authority.
- Direct FX offers several choices of trading platforms in addition to support for mobile devices on the MT4 trading platform.
- Direct FX provides trading services to clients based on the ECN/STP execution model.
- The broker has been in the business for more than a decade, which is a good proof of its sound financial standing and business model.
- The company is transparent about its business model.
- Direct FX is in partnership with reputable companies, which serves to boost confidence.
- Great customer support services.
- Fast trade execution.
- Direct FX offers clients a demo trading environment where they can test the platform.
- The broker does not provide a web-based trading platform.
- High spreads on certain accounts (standard).
- Limited expiry times.
- Withdrawal options are limited.
- No bonuses.
Direct FX is an Australian-based forex broker owned by Direct FX Trading Pty Ltd. The broker was founded in 2006 and offers forex trading services as well as binary options on MT4. The company is registered and regulated by the Australian Securities & Investments Commission (ASIC) and is an adherent of the Financial Ombudsman Service (FOS). The FOS has been approved to settle external dispute by dealing with complaints about all of the financial services the system provides in Australia.
Direct FX provides financial services to its users through Beeks VPS, a dedicated server that is hosted in Equinix NY4. The company’s partnership with Beeks makes it possible for its clients to place orders at breakneck speeds on all of the platforms that Direct FX provides. Similarly, the company is into a partnership with other organizations such as White Label, Money Manager Solution, and Introducing Broker. Traders on the Direct FX network are provided with an economic calendar as well as textual lessons on different topics to keep them up to date with happenings in the financial market as well as provide them with quality trading education. Also, traders are provided with a demo account which allows them to test-run the platform before investing real money. The company offers straight-through-processing (STP) trading model.
Trading Platforms
Direct FX offers its clients the option of trading via the following platforms:
MetaTrader 4
Direct FX allows its clients to trade through the widely used MetaTrader 4 (MT4) trading platform. The platform gives traders a direct market access to trade financial products such as CFDs, forex, metals, futures, and exchange-listed US equities. Using this platform, clients get to trade on some of the tightest prices available, as the broker is connected directly to several top-tier banks. In addition, the platform offers advanced and user-friendly trading features, sophisticated charting capabilities, and expert advisors (EAs), which let traders automate their trades using a customized EA that meets their trading requirements.
CQX FX
CQX FX is a fully customizable trading platform which lets traders the interface of the platform. In this manner, users can add or remove trading windows, adjust windows sizes, change colors, as well as remove all trading windows from the trading platform to create an additional working environment. Also, the platform offers innovative charting tools, analytical studies, and fast execution speed, all of which combine to make it an industry standard.
MT4 Mobile
Besides being able to operate and trade their MT4 live account on computers and laptops, Direct FX allows its clients to trade on their MT4 account on their mobile devices at any time. The mobile app is equally feature-rich and offers great customization options without compromising on speed and fluidity. The MT4 mobile platform is available for Android, iOS and Windows devices.
Trading Markets
Direct FX offers trading in several financial instruments including:
- Forex
- CFDs
- Precious Metals
- Futures
- Equities
Customer Support
Direct FX has a dedicated team of customer support staff who genuinely care about their clients. The Customer helpdesk at Direct FX can be reached through the following channels:
- Email. For questions, inquiries, and comments, Direct FX users can contact customer support through email at [email protected]. For sales or new account related inquiries, Direct FX clients can contact support through [email protected] and [email protected].
- Telephone. Traders who wish to speak with Direct FX customer support staff can contact them by phone on +61 280385093.
- Contact form. Another way through which Direct FX clients can contact customer care representatives is by filling a contact form available on the company’s website at www.directfx.com/contactus. All you need to do is type in your name, provide an email address, then type your message. After that, click on the submit button to send your message.
- Live chat. Direct FX customers can use the live chat feature available on the company’s website at www.directfx.com to contact the customer support team.
Security and Fairness
Direct FX is licensed and authorized to offer trading services by the Australian Securities and Investment Commission (ASIC) with AFSL No. 305539. ASIC regulated brokers comply with certain rules and requirements such as the clients’ money rule, which requires brokerage firms to keep clients’ funds in segregated trust accounts, where the company cannot access them for company operations.
Conclusion
Direct FX is a reputable broker regulated by ASIC. Online user reviews indicate that the broker is reliable. In addition, their customer support services come highly recommended, as clients speak of the support staff in glowing terms. Another thing you may like about this broker is the fact their trading platforms are highly customizable. You can tweak the program as you want without worry about your choices impacting negatively on your trading experience. One of the major disadvantages of the broker is that they charge high spreads on standard accounts. Also, there are only a few withdrawal options available to traders. If you can overlook this shortcoming, then Direct FX would be a great broker to use.
