Direct FX Review

Review

Direct FX Trading Pty Ltd is a Forex company founded in 2006 and is one of only a few such brokers domiciled in Australia. Direct FX is regulated and licensed by the Australian Securities and Investment Commission (ASIC) and is a member of the Financial Ombudsman Service (FOS), an approved Australian external dispute resolution system that can deal with complaints about all of the financial services it provides.

Direct FX offers trading in Forex, CFDs and gold and silver.

Accounts

There are two trading accounts at Direct FX. Clients can open the Next Generation MT4 account with a minimum deposit of $100 and can trade on up to 400:1 leverage. All MT4 compatible expert advisors, scalping expert advisors and MQL4 robots are accepted and a deep liquidity pool connecting numerous top tier providers is available. Traders can trade 30 currency pairs, metals, and NDFs and can access up to 400 OTC currency pairs. Money managers and back office support are also available.

The CQG FX account is designed for the trader seeking an institutional style trading platform. It offers advanced trading tools for the experienced Forex trader such as the Spreadsheet Trader which is a customizable spreadsheet-based trading application that allows traders to track the state of a wide collection of markets using their favorite studies, conditions, and alerts.

The SnapTrader feature offers an innovative interface designed to provide one-click trading from the charts and traders receive notifications of when a specific price, time, study, or trend-line condition has been met. All orders are straight through processed (STP) using state of the art order routing software.

Direct FX offers custom Multi Account Manager (MAM) software and the MAM/PAMM accounts provide professional traders with multiple accounts, and qualified asset managers the perfect solution for managing trading accounts. The software allows professional traders to quickly execute block orders with one click, under one master account, and conveniently automates trade allocations to sub accounts.

MAM Platform

A demo account is available to newbie traders for 30-60 days. Additional funds can always be added to an existing demo account and there is no limit on how many demo accounts a trader can create.

Features

Direct FX offers traders the Beeks VPS which is a dedicated server hosted in Equinix NY4. By partnering with Beeks Direct FX is able to cross connect their VPS to the broker’s trading servers, which are also hosted in NY4. This allows traders to execute orders at lighting fast speed across all platforms offered at Direct FX.

There are several partnership choices including white label, introducing broker and money manager.

Education

Education and instruction are important to the team at Direct FX and there is a host of different features for traders of all levels of experience.

Top news items are posted on a daily basis and are accompanied by opinion and analysis. There are textual lessons on several topics and an economic calendar with important international events is kept up to date. There were no videos or webinars offered which is disappointing.

The FAQ section was full of useful information.

Deposits/Withdrawals

Traders are able to use multiple account funding methods including bank wires, several online payment programs such as Neteller and Skrill. Credit cards are not listed as options. Direct FX requires a minimum initial deposit of $100 to open an MT4 account, and $500 to open a CQG FX account.

Withdrawals are made by filling out an online withdrawal form. It takes 2-3 days for money to be deposited in an account.

All funds are held in segregated accounts.

Customer Support

Direct Fx offers multi lingual platform and support 24/7. Traders can contact a Direct FX representative via live chat, email, or telephone to their Sydney, Australia office. Support is available in English and Chinese.

Bonuses/Promotions

There were no bonuses or promotions offered at the time of this review.

Conclusion

Direct FX is a standard Forex broker. The choice of trading products is somewhat limited but there are several strong platforms to use when placing a trade. There are no bonuses or promotions which limits their marketing efforts considerably. Customer support is good and trades are executed in a timely fashion.

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Features

The most outstanding feature at Direct FX is their choice of trading platforms. The MT4 trading platform is one of the most popular platforms in the Forex industry and Direct FX has added some new benefits to make it even a better choice. Though not as well-known as the MT4, the CQG platform is also a unique offering that is fully customizable and allows traders to change the look and feel of the platform to meet their needs.

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Platforms

MetaTrader 4

Direct FX uses the popular MT4 trading platform which streams tight pricing on over 30 currency pairs, metals, and NDFs and access up to 400 OTC currency pairs. The MT4 feed provides institutions, brokers, money managers, and retail traders access to deep top tier liquidity and a high speed STP execution model which connects to banks, hedge funds, and ECNs where execution can be done within milliseconds.

MetaTrader 4 Platform

Direct FX also offers cutting edge AQUA technology to all of their clients.

Mobile

The MT4 mobile platform allows traders to place trades from their Androids, iPhones and iPads.

CQG FX

CQG FX is a fully customizable platform which allows traders to change the look and feel of the platform. Traders can remove and add trading windows, change colors, adjust windows sizes, and remove all trading windows from their platform to add additional working space.

CQG FX Platform

CQG has established a reputation over the last 30 years for its ability to produce innovative charting tools and analytical studies that quickly become industry standard. CQG gives traders a large number of chart alternatives, all offering maximum flexibility and intuitive, easy-to-use features to set up charts and display data just the way they like them. Traders can choose from 10 chart types.

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User Reviews

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