DirectFX was founded in 2019 and is a relatively new broker in the online trading industry. In this DirectFX review, we’ll talk about its regulation and security, trading conditions for Forex, account types, and more. It is recommended to read it before registering and creating an account.
The broker’s official website looks unfinished. Many sections are missing and redirected to the home page, and sometimes it is impossible to even register. This is common with short-lived and scam companies. But is DirectFX safe and legal?
| Official site | https://prodirectfx.com |
| Year of foundation | 2019 |
| Regulated by | |
| Trading instruments | 250+ assets Forex, CFDs on futures, spot indices, shares, energy spots and metals |
| Spreads and commissions | Above average floating spreads EUR/USD – from 1.6 pips GBP/USD – from 2.4 pips |
| Most popular | Direct FX in USA, Australia, New Zealand, Canada, South Africa |
| Provision of services in the US, UK, Canada, European Economic Area |
| Min. trade size | 0.01 |
| Leverage | Up to 1:400 |
| Account types | Standard, Premium |
| Minimum deposit | $ 100 |
| Minimum withdrawal | |
| Deposit & withdrawal methods | 3+ methods: credit cards, bank transfers. |
| Payment Fees | |
| Trading hours | 24/5 |
| Trading platforms | MT4 |
| Mobile App | |
| Demo | |
| Copy Trading | |
| AT/Robots | |
| Bonus | |
| Affiliate program |
Regulation and safety
DirectFx is not regulated and most likely is not a legal broker. There is very little information about him. The site only lists the location of their office in Saint Vincent and the Grenadines. Perhaps even it is not real.
There is also no legal information about DFX and no terms and conditions.
At the moment, you can’t even register on DFX and enter the platform.
DirectFx is not safe or reliable. It looks like another short-lived scam broker.
Trading platform and conditions
Trading with the DirectFX is only possible on the MT4 platform. This is a standard terminal suitable for both beginners and experienced traders. For forex and CFD brokers this is the fastest way to offer their services. And this is used by many unsafe and scam brokers, including Direct FX.
The site has a lot of different information about the available assets. And it is sometimes contradictory. Overall, DFX has about 250+ assets including Forex, metals, shares, energy spots, futures, index spots.
Leverage can be up to 1: 400.
DirectFX has 2 types of accounts – standard and premium. To get a premium account, you need to top up your account with $ 500. The main difference is floating and fixed spreads. DFX’s spreads are quite high than the industry average. There are no commissions.
Deposit, withdrawal and bonuses
The broker’s minimum deposit is $ 100, there is no minimum withdrawal amount. There is no information on the methods of deposit and withdrawal on the site. In general, there is no FAQ section. DirectFX does not offer bonuses or contests.
Conclusion
The review shows that the DirectFX broker is unregulated and unsafe for forex and CFD trading. It looks like they wanted to get started faster and made a lot of technical mistakes. They have an unfinished website and little legal information. No rules and agreements, payment information, licenses. And even the trading conditions are bad.
All this speaks of a possible fraud on the part of the DFX broker. There is no reason to choose Direct Fx for online trading.
You can choose one of the reliable brokers for CFD and forex trading.
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