DIRECT FX FAQs
Where is your company located?
We are located at: DIRECT FX Trading Pty Ltd
19-21 Hunter Street
Sydney, NSW 2000, Australia
What are your spreads?
DIRECT FX provides competitive pricing which means that you will see extremely low spreads. The spreads are as low as 0-2 pips on the major currency pairs. The spreads are variable and not fixed. You can sign up for a demo account to view the market spreads.
*Spreads may widen further than 2 pips during certain market conditions and times of lower liquidity.
Why are your spreads so low?
We offer a multi-bank, institutional grade price feed to both retail and professional traders alike. We are able to do this because we charge a small commission. Our business model is based on providing excellent execution. We feel that charging a small commission allows us to offer better execution.
What is your leverage?
The maximum leverage offered is 400 to 1 for accounts < $20,000. For accounts greater than $20,000 our maximum leverage is 200 to 1. DIRECT FX does not accept accounts from U.S. residents.
Is scalping allowed?
Yes, scalping is allowed.
Is hedging allowed?
Yes, hedging is allowed.
What are your commissions?
We do not charge commissions on our regular Metatrader 4 account. All commissions are included in the bid/ask spread. We feel that our pricing is perfect for customers that use EAs and that our pricing is more competitive than most brokers.
What kind of support do you provide?
We provide 24 hour support via phone, email, and Live Chat. We will respond to your email in 1 business day or less. You can also contact our office via phone at +61 2 8038-5093 24 hours per day.
Do you charge a monthly fee for trading?
No, there are no monthly fees.
Do you have a platform fee?
No, there are no fees for our platform.
Is the FIFO rule applicable?
How are you related to companies that sell Expert Advisors?
We are preferred brokers for many companies that create Expert Advisors, because we understand how to set these products up on the MT4 platform, and we can identify if they are operating properly. We provide our clients with support in setting up Expert Advisors on MT4 and for all general inquiries about FOREX trading. We do not provide recommendations, or advise on which Expert Advisors work the best and we do not sell Expert Advisors. All Expert Advisors are purchased through third party companies that are not associated with directfx.com. We do not test Expert Advisors and we do not guarantee the results of any of these systems.
Do you have gold and silver trading?
Yes, we currently offer gold and silver for our live account holders on MT4 with the same low spreads and excellent execution.
Do you allow news trading?
Do you have block trading ability?
Yes, we provide a block/PAMM master trading account for asset managers and institutions.
I signed up for a live account, when will I receive my bonus?
The bonus can only be redeemed after you place a certain amount of trades in a funded account. For more information click here.
How long have you been in business?
Our parent company has been in business for over 3 years. DIRECT FX Principle Partners have been in the trading business for over 40 years combined.
Demo Trading Account
How do I sign up for a demo account?
Click here to be taken to the DIRECT FX online, demo account sign-up form. Once you fill out the form it will bring you to a screen to download our platform. Simply save or run the application file and you can start trading with a practice account right away.
Am I charged a monthly fee or commission when I trade on a demo account?
No, the demo account is for practice only. The charts are updated in real-time but you are not charged any fees for signing up for a demo account.
Can I create more than one demo account?
There is no limit on how many demo accounts you can create. If you are having trouble connecting to your demo account or lose your login information, you can create a new demo account. Simply go to File > Open an account and create a new demo account.
Does a demo account ever expire?
Yes, demo accounts will automatically delete off of our server within 30-60 days from the date of creation. In some instances, this occurs earlier. Feel free to establish a new demo account if your previous account expires. Simply go to File > Open an Account and create a new Demo account.
How do I add more funds to my demo account?
You can add funds to a demo account if you run out of funds. From within the MetaTrader platform, simply go to File > Open an Account > Deposit (use the drop down arrow) > Check Subscribe to Newsletters > and then click Next.
Live Trading Account
Where can I sign up for a live account?
Click here to start the process to sign up for a live account.
What information do I need to provide for my live account?
Keep in mind that you are opening an account with an investment firm and the process is very similar to opening a regular bank account. You will need to fill out the appropriate online or paper account application to open your account. You will then need to provide the new accounts division with any additional information that they may require. Please follow the instructions thoroughly. These are found in our live account application. Within 24 hours, you should receive an email from our new accounts division with details in regards to the remaining documents that you will need to send in order to get started.
Can I trade on my live account if the funds have not been deposited or are in the process of being deposited?
You need to have funds in your account in order to trade. If you sent a wire transfer or credit card payment, please wait until the account balance is updated prior to attempting a trade. You can view your available balance by logging into your live account. You will also receive an email when your account is released to trade live.
Can my account ever go negative?
Yes, however this rarely happens. If trades are going against you and you do not have enough margin in your account then your positions will be closed when the margin hits 0. You should monitor the available margin closely on your platform to make sure your positions are not closed out if you would like to stay in the positions.
Can I trade micro lots on a live account?
Yes. We offer micro, mini, and standard accounts.
What is the minimum lot size?
The minimum lot size is 0.01 (1,000 units).
What is the maximum lot size?
There is no maximum lot size.
How long does it take to setup a live account?
Once the online application is submitted, it takes about 1 business day to be processed. If some portions of the application are left incomplete or certain documents have not been received it may delay the process. If you are beyond the average 2-3 business day wait period and have yet to receive confirmation, you may consider contacting us to review your application status.
How would I know if the account has been setup?
We will email you a live account username and password after the account is approved and funded.
How soon can I start trading after my new account is setup?
Once funds are deposited into your account you will be able to trade.
Do you have any instructions on how to use MetaTrader?
Our Support page contains tutorials that will guide you through the process of how to use MetaTrader.
Deposit / Withdraw Funds
What is the minimum amount needed to fund a live account?
We require new clients to fund a live account with a minimum of $500 USD.
Is there a minimum I have to keep in an account after my initial $500 USD minimum deposit?
No. However in order to place a trade you must have enough money in the account to meet the margin requirements of the trade.
How do I withdraw money from my account?
You can withdraw funds from your account via bank wire.
How long does a wire transfer take to post to my live account?
Funding your live account via wire transfers can take 24-36 hours. This is the fastest way to deposit funds in your account.
How long does a deposit of funds via credit card take to post to my live account?
Funding your live account via credit card can take 3-5 business days.