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Direct FX – forex company profile

Forex trading

Sydney based, Direct FX Trading Pty Ltd (Direct FX), was founded in 2006, and currently this Forex company has a daily trade volume of $5.4 billion. It CEO is Joe O’Mara. Direct DX is regulated by the Australian Securities and Investment Commission (ASIC). The company is also a Financial Ombudsman Service (FOS) member. This membership allows for an external dispute resolution system, which deals with complaints about all of the financial services Direct DX provides. The regulatory obligations means that Direct DX must keep client funds in separate trust accounts, and they have to maintain a $1 million balance as proof of good standing. However, the company does not have to ensure a compensation scheme in case they close or file for bankruptcy.

The company has been receiving growing volumes from Chinese traders seeking the benefits of an expertise and security of a well regulated brokerage. Still, Direct DX provides a Straight-Through-Processing trading model, focusing on 40 currency pars for trading, as well as commodities like silver and gold. The company also focuses on CFDs that is geared to commodities, bonds, equities and indices.

• Platforms
Direct DX uses two platforms for trade, namely MetaTrader 4 and Tradable. MetaTrader 4 (MT4) is an industry standard. This technology is available as desktop and mobile versions. MT4 gives traders all the resources and tools, as well as technical indicators, one-click trading options, access to Expert Advisers, and advanced charting package. Since Direct XM has access to Beek remote servers, it allows that automation through the use of Expert Advisors and robots are functioning without interruption, even if the computer device is switched off. MetaTrader uses CQC technology. This technology eliminate the need to know computer programing. Plus, it allows for multiple automated trading systems to run concurrently.

• Accounts
Direct DX offers 2 accounts only – the Next Generation MT4 and the CQG FX account. The Next Generation MT4 has a minimum deposit of $100 and trades are capped to a 400:1 leverage. This standard account is commission free. The CQG FX account is meant for traders that want an institutional style trading platform, and demands a minimum deposit of $500, and the leverage is capped at 400:1. This account offer advanced trading tool, such as Spreadsheet Trader. This tool allows for customisable spreadsheet-based trading application, whereby markets can be tracked using the trader’s best studies, conditions and alerts. That said, this account does attract a commission. Direct DX offers its clients access to Multi Account Manager software and qualified asset managers

• Support and educational support
The company provides daily top news items. Also, they provide textual lessons on different topics. Direct DX, however, does not provide any videos or webinars to its clients. But they do offer a 30-60 day demon account for clients to exercise their trading skills. The company does offer a 24/7, with live chat, email or phone, in English and Chinese.

• Deposits and withdrawals
Although Direct DX allows for multiple payment options, it lacks credit cards as method of payment. The withdrawal process is through completing an online withdrawal form. The clearance takes 2-3 days.

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Virginia Sagal

Virginia is a business consultant who specializes in the digital economy.

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