Direct FX Overview
Telephone: +61-2-8488-0991
Regulation: ASIC
Pairs offered: Major pairs, Minor pairs, Exotic pairs
Minimum Deposit: $250
Spreads From: 0.8 PIPs
Max Leverage: 400:1
Markets: FX, commodities, stocks, futures, CFDs

Direct FX Broker Review

DirectFX is a regulated forex brokerage service offering Forex, CFD, precious metals, and futures trading to clients around the world. It features the CQG 1 trading platform and nextgen MetaTrader 4 platform. Registered traders must make a minimum deposit of $250 to enjoy trading 4 dozen currency pairs and commodities, with leverage as high as 400:1. Among others, the benefit of trading at DirectFX is competitive pricing on dozens of financial instruments, tight spreads, low latency on trades, and advanced trading tools, charts, graphs and analysis.
DirectFX offers traders a wide range of resources to bolster their online trading activity. These include comprehensive training, and economic calendar, and an extensive range of FAQs. This brokerage is fully regulated by ASIC (Australian Securities and Investment Commission) with #120189424. The participating banks include Morgan Stanley, UBS, Deutsche bank, JPMorgan, Citibank, and Barclays among others. An important notice was recently issued by DirectFX to the effect that the company is not currently accepting new customers. Existing traders are only permitted to trade to the extent required to close their positions.

Overview/ background

 

DirectFX Was founded by a team of results-oriented financial experts, technical professionals and Forex aficionados. The company is owned by Direct FX Trading Pty Ltd. By delivering a powerful state of trading tools and resources, DirectFX has positioned itself as one of the market leaders in Forex trading. The higher echelons of the company’s management team have collective experience of 40 years in the game, and they’ve drawn from their expertise to establish a market leading enterprise in the form of DirectFX.The company’s headquarters are located in Sydney, New South Wales, Australia. While the business has been operational since 2006, Direct FX Principle Partners has been operational for 40 years.

 

Account Types

 

Forex clients can easily complete an online registration form to enjoy demo trading activity. A full download of the software is needed to get started with the demo platform, but no fees are required from traders for this benefit. Clients will only have access to the demo trading platform for 30 days through 60 days, sometimes sooner than that. Traders also have the option of setting up a live account. A minimum processing time of 1 day is needed to set up a live trading account. If clients do not complete the form correctly, additional time may be needed to verify and confirm the account. Both account types offer clients real market trading conditions with a wide range of financial instruments.

 

Trading Platform/ software

 

various trading platforms and software are used at DirectFX. These include MT4 (MetaTrader 4), CQG FX, Multi-Account Manager, VPS Solution, CQG1, MT4 mobile, and platform partners.

MetaTrader 4 – is available to clients in a live account format or a demo account format. It includes the full range of financial instruments such as futures, equities, metals, safeties, and currency pairs. Clients can enjoy tight spreads on a full range of options, EAs are supported, and mobile trading is fully supported too. The minimum deposit requirement for this trading platform is $100, and it also supports multi-account managers, robots, and multilingual support.

CQG FX – this trading platform is also available in a live account or a demo account. Traders can access multiple functions including stop limit orders, stop orders, limit orders, and market orders. Other options include bracket orders, OCO, trailing stops, and trailing limits. This is best for trading forex pairs across the board, and it’s also ideal for spot metals. With real-time market data and advanced charting capabilities, CQG FX is geared towards quick click trading and automated trading functionality as well.

CQG 1 – this trading platform is also available in a live account and a demo account. It is geared towards futures and Forex trading. With futures, there are fees of $5.98 per round turn and exchange fees. Future exchange fees are $15 per month. The foreign exchange does not have any commissions. Provided the devices HTML 5 compatible, both desktop and mobile devices are fully supported by CQG 1.

Multi-Account Manager – traders who are managing multiple accounts will find the MAM platform particularly useful. It supports all types and an unlimited number of subaccounts as well. The trading activity takes place through MetaTrader 4 and is compatible with Android, iOS, PC and Mac. VPS solutions are also available for traders. The user-friendly interface allows for master account management of multiple subaccounts.

 

Deposit options

 

Various deposit options are currently available for DirectFX. These include UAE Exchange, Skrill Moneybookers, bank wire, and NETELLER. Drop-down menus are available alongside each deposit option, directing traders towards registration with these payment processing options. All deposit options are guaranteed safe and secure, and protected by SSL encryption (secure socket layer) and firewall protection.

 

Markets

 

An estimated 48 financial instruments are available for trading purposes. These are listed under the products category at the top of the screen. The main categories include: Forex, CFDs, precious metals, and futures.

Forex – 48+ currency pairs are currently available including major pairs, minor pairs and exotic currency pairs. Popular options such as USD/GBP, GBP/EUR, USD/JPY, USD/EUR and others abound.

Contracts for Difference – CFDs are popular trading options for forex. They are also ideally suited to trading bonds such as US Treasuries, German government bonds, Italian bonds and UK bonds. Clients can also use this CFD is for indices and commodities. Note that precious metals can also be traded with CFD contracts and spot contracts.

Precious Metals – thanks to MT4, traders can enjoy a CFD contracts or spot contracts, and no physical delivery of precious metals is needed. Popular training options include XAG/USD, and XAU/USD. Be advised that precious metals can be traded in demo mode or real money mode.

Futures – futures trading opens up multiple global assets including ones, commodities and indices. With futures trading, clients can go long or short, and with $1000 margins there is substantially more leverage than trading equities. Several dozen futures markets are currently available.

 

Bonuses

 

at the time of writing, we could not confirm any bonuses at this forex broker

 

Customer Support

 

traders can access customer support by clicking on the ‘Contact Us’ tab. This redirects clients to the contact us form. Various support options are available including telephone assistance (+61-2-8488-0991), email ([email protected], [email protected], and [email protected]). The company’s registered mailing address is the following:

DirectFX

Level XI

Suite 2 – 10 Bridge Street

Sydney, NSW 2000

Australia

Customer Support services run between a.m. GMT and 10 PM GMT Sunday through Friday.

 

Safety

 

Safety and security is assured at DirectFX, courtesy of full licensing and regulation with the Australian Financial Services, notably ASIC with ACN #120-189-424. The Australian Financial Services Licence #is #305539. This licensing and regulation is applicable to Australian traders only. Additionally, DirectFX works with trusted global banks for liquidity purposes, including: JPMorgan, Citibank, UBS, Deutsche Bank, Barclays, CreditSuisse, Goldman Sachs, and others.

 

Ease of Use

 

It is relatively easy to use the services provided by DirectFX. A live account and a demo account option is available to traders. Multiple trading platforms are tailored to forex, commodities, stocks, futures, bonds et cetera. Clients can pick their preferred platform and trade for real or demo, on PC, Mac or mobile.

 

Final Thoughts

 

Were it not for the fact that DirectFX is not accepting new customers, this would be a highly recommended FX brokerage. It checks all the boxes and offers dozens of financial instruments on world-class platforms.

Pros
  • ASIC Licensing
  • Demo trading platform
  • MetaTrader 4, MetaTrader 4 Mobile, CQG FX,
Cons
  • Not accepting new clients
  • No Bonuses
  • Limited financial instruments
Direct FX Overview
Telephone: +61-2-8488-0991
Regulation: ASIC
Pairs offered: Major pairs, Minor pairs, Exotic pairs
Minimum Deposit: $250
Spreads From: 0.8 PIPs
Max Leverage: 400:1
Markets: FX, commodities, stocks, futures, CFDs
Pros
  • ASIC Licensing
  • Demo trading platform
  • MetaTrader 4, MetaTrader 4 Mobile, CQG FX,
Cons
  • Not accepting new clients
  • No Bonuses
  • Limited financial instruments