FX Trading Master

United States
Generic selectors
Exact matches only
Search in title
Search in content

DirectFX Review and Tutorial 2021

» Visit

Stop United States not accepted.

Go to the Brokers List for alternatives

Facts & Figures

DirectFX is an offshore online forex broker offering MT4 trading.

Awards

N/A

Bonus None
Instruments Forex, futures, indices, shares, metals
Demo Account No
Min. Deposit $100
Pay Methods N/A
Min. Trade 0.01 lots
Regulated By None
MetaTrader 4 Yes
MetaTrader 5 No
cTrader No
ECN Account No
DMA Account No
Mobile Apps Yes
Auto Trading No
Social Trading No
Copy Trading No
Trade Signals No
Islamic Account No
CFD
FTSE Spread 1
GBPUSD Spread 1.6
Oil Spread 2.2
Stocks Spread Variable
Leverage 1:400
Forex

Trade on dozens of forex pairs with high leverage.

GBPUSD Spread 1.6
EURUSD Spread 1.4
EURGBP Spread 1.3
Assets 68
Risk Warning – Your capital is at risk

DirectFX is a forex and CFD broker that works with the MetaTrader 4 trading stage. This survey of Direct FX investigates any forex signals, account choices, and tradeable instruments advertised. In addition, peruse to discover critical data concerning the broker’s permitting, installment alternatives, and safety efforts.

DirectFX Company Details 

Set up in 2019, DirectFX is a forex broker with a base camp in St. Vincent and the Grenadines. Instead of direct market access (DMA), the broker finishes a straight handling (STP) model. Accordingly, Direct FX has value cites progressively, however less profundity and merchants can’t manage liquidity suppliers. 

Shockingly, the broker is unregulated, which is certifiably not a decent sign for the security of customer reserves.

MetaTrader 4 Platform 

DirectFX gives admittance to MetaTrader 4, one of the business’ top trading stages. MT4 upholds 40 dialects and offers more than 50 specialized markers, 30 graphing apparatuses, and nine time periods. There is likewise the capacity to make custom markers and investigation devices.

The stage can be downloaded from the DirectFX site for the two Windows and Mac PCs.

Assets 

DirectFX offers a scope of tradeable instruments, including 68 forex sets, of which 7 are majors, 21 are minors, and 40 are fascinating. Customers can likewise exchange prospects, 24 worldwide records, seven valuable metals, and 140 stock CFDs from the US, UK, French, and German business sectors.

Spreads & Commission 

The spreads offered by Direct FX are not highly aggressive. For example, the Standard record has variable spreads that usually 2.39 pips for GBP/USD, 1.58 pips for EUR/USD, and 1.74 pips for EUR/GBP. 

The Premium record offers fixed spreads that are the base conceivable worth of the Standard record’s spaces. These are 1.6 pips for GBP/USD, 1.4 pips for EUR/USD, and 1.3 pips for EUR/GBP. 

Commissions aren’t charged, yet the broker isn’t straightforward about extra trading expenses, so it merits checking with the client service group while enlisting for a record.

Leverage 

Influence rates for DirectFX customers arrive at a limit of 1:400. Notwithstanding, the top cap shouldn’t be applied, and dealers ought to completely comprehend the dangers accompanying influence in forex trading.

Mobile Apps 

There are committed versatile renditions of the MetaTrader 4 stage, intended for the two iOS and Android gadgets. The MT4 application requires login qualifications and has magnificent evaluations and audits on both the App Store and the Play Store. The application offers each request type and tradeable resource accessible through the work area customer, however with just three outline types and a local determination of pointers and examination devices.

Deposits & Withdrawals 

DirectFX gives no data regarding the installment choices that can be utilized to support and discharge trading accounts. This is certainly not a decent sign, especially according to a well-being perspective, as security necessities should be met for a broker to rundown and utilize an installment technique. In our audits, we don’t prescribe brokers incapable of giving precise data on stores and withdrawals.

Demo Account 

DirectFX doesn’t offer customers the chance to prior their administrations with a demo account. This is a significant disadvantage as demo accounts are an extraordinary method to acclimate yourself with the MT4 trading stage, test methodologies and investigate new business sectors.

Deals & Bonuses 

At the hour of composing, there are no store rewards or welcome arrangements advertised. Even though EU brokers can’t offer bonuses, DirectFX loses some upper hand against non-EU brokers that provide contracts.

Regulation

There is no notice of any legitimate authorization or guideline on the Prodirect FX broker’s site, and it’s anything but recorded in the neighbourhood Financial Service Authority’s (FSA) information base. 

The guideline is a significant factor while picking a forex supplier as it assists with securing against tricks and broker chapter 11. Without a procedure, customers have almost no lawful response.

Additional Tools

This audit was frustrated by the additional highlights accessible. For example, most brokers offer instructive assets and market examinations. However, DirectFX gives just crude forex and CFD trading.

 Accounts

There are two Direct FX trading accounts. The Standard record is focused on less experienced merchants, while the Premium record gives lower charges as a trade-off for bigger stores and trading volumes.

Standard Account 

  • $100 least store 
  • Spreads from 1 pip 
  • No commissions 
  • All instruments 
  • 1:400 influence 
  • MT4 access

Premium Account 

  • $500 least store 
  • No commissions 
  • 1:400 influence 
  • Fixed spreads 
  • MT4 access 
  • No stocks 

Islamic trade-free records are accessible through the client care group.

Benefits 

Despite the restricted time, it’s been around, the broker offers serious support in specific spaces, remarkably: 

  • Great instrument range 
  • Great influence rates 
  • No commissions 
  • MT4 stage

Drawbacks 

ProdirectFX could work on in a few regions: 

  • Restricted store and withdrawal data 
  • Unlicensed and unregulated 
  • No instructive assets 
  • No live talk support 
  • No demo account

Trading Hours 

Forex markets are open 24 hours every day, five days per week. They open at 09:00 GMT on Mondays and shut down at 21:00 GMT on Fridays. Different instruments have diverse trading hours, particularly stocks and lists, which follow neighbourhood market opening occasions.

Customer Support 

The DirectFX client service group can be reached through phone or email. However, no subtleties of available time are given on the site. 

  • Phone – +421 911 610000 
  • Email – support@prodirectfx.com 

Lamentably Direct FX doesn’t give live visit support. This is a significant downside as a solid talk administration is frequently applauded in client audits.

 Client Safety

The exchange of information through the site isn’t ensured using Hypertext Transfer Protocol Secure (HTTPS) or Secure Sockets Layer (SSL) encryptions. The website additionally doesn’t have an approved testament and is in this manner marked ‘not secure’ by web programs. Likewise, the absence of any installment strategies, even bank moves and installment cards, is characteristic of helpless safety efforts. 

For security and guideline reasons, numerous brokers isolate their capital from customer reserves. Direct FX keeps all money together, decreasing the shields between the organization and dealer capital.

 DirectFX Verdict 

DirectFX is an unregulated broker with restricted data accessible around installments and customer security. So regardless of a decent item range and the MT4 stage, we’re not happy that DirectFX is protected from exchanging with. All things being equal, we’d suggest thinking about more dependable and controlled suppliers.

Accepted Countries

DirectFX acknowledges brokers from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most different nations. 

Alternatives to DirectFX

On the off chance that you are searching for options in contrast to DirectFX, we have accumulated a rundown of the best five brokers that are like DirectFX beneath. This rundown of brokers like DirectFX is arranged by comparability and incorporates organizations that acknowledge merchants from your area. 

  1. Infinox – Infinox is a UK-based broker contribution MT4 trading with tight spreads. 
  1. LMFX – LMFX offers online forex and stock trading with low expenses and significant influence. 
  1. LQDFX – LQDFX offers web-based trading with numerous STP records and MT4 examination apparatuses. 
  1. Fortrade – Fortrade is a multi-resource broker contributing a straightforward live record with cutting-edge apparatuses. 
  1. Hantec Markets – Hantec Markets is a multi-managed online FX broker contribution MT4 and custom-made help gives tremendous adaptability to suit any dealer.

 FAQ 

Would you be able to exchange with DirectFX in New Zealand? 

The broker is unlicensed. This implies no guidelines are hindering certain purviews. You can open a record with DirectFX in New Zealand, Australia, the UK, Kenya, and more. It ought to be noted, in any case, that an absence of guidelines diminishes dealers’ lawful insurance. 

What instruments can be exchanged with DirectFX? 

The broker offers forex and CFD trading in an enormous number of markets. There are 68 forex sets, 140 stock CFDs, 24 files, and seven valuable metals to be exchanged. 

What amount of influence does DirectFX offer? 

The broker offers influence paces of up to 1:400 across all resource types. Nonetheless, trading with influence amplifies the dangers just as benefit potential, so it ought to be drawn nearer with alert. 

Does DirectFX have Islamic records? 

Although the standard records accompany the time being trade charges, there is the likelihood of opening an Islamic record, which forgoes these expenses. 

Would you be able to open more than one DirectFX account? 

Customers can have a few trading accounts open all the while with DirectFX. However, to do this, you need to contact the broker utilizing the subtleties given in this survey. 

What trading stages does DirectFX give? 

MetaTrader 4, a solid, balanced stage, is accessible through DirectFX. In addition, the set has a scope of capacities and customization alternatives.

en_USEnglish