Forex and binary options product reviews
Direct FX might come across as a Forex broker at first glance. However, in addition to offering forex trading, Direct FX also offers binary options on MT4, making it one of the few brokers that offer both products. However, traders from the United States are not allowed to open an account for regulatory reasons. You can also create a free demo account, which is practically unlimited in funds but is available for only 30 days.
We are glad to see that more forex brokers from Australia offer binary options to retail traders. The following Direct FX review will exclusively focus on the binary product. Direct FX also has an Australian Financial Services License, which gives the company the authority and legitimacy to offer financial services in Australia.
The trading platform is Meta Trader 4, which allows traders to use a large number of indicators and robots. To enable binary options trading, forex and binary options product reviews need to download and install an additional binary app. Direct FX also does not have a mobile app. This will open a custom set of instruments with the suffix bo example: The terminal is easy to use.
Once you select an expiry time and amount to invest, it shows you the potential return. You simply press Up or Down to choose a direction. You can trade 60 second, 5 minute, 10 minute, 15 minute, 30 minute and 60 minute expiries. Daily and weekly options are not available. There are limits to the total forex and binary options product reviews positions you can have: Traders can use the technical indicators available with MT4 and even add their own indicators to the charts and analyze the markets.
You can trade major forex currency pairs and some cross pairs. Commodities and stocks are not available. You can test drive the Direct FX forex and binary options product reviews options platform on MT4 with a free demo account that is valid for 30 days. All trading features are available in the demo as the account completely replicates the live environment. To create a live account with Direct FX, you will go through a three-step registration process.
You need to provide some basic information about your current occupation and experience in trading. It will take you no more than 5 minutes to complete the registration. Once all the details are entered, you will have to verify your account by uploading a photo ID and a proof of address document for regulatory purposes. After the account is verified, you can start to fund your account and begin trading binary options with real money.
Having MT4 opens up many possibilities for traders who can build and use their own trading strategies in real time on the chart. Many traders are using MT4 to follow price action and place trades on a different binary platform.
Direct FX allows you to directly trade binary options on Meta Trader 4, which of course saves you time.
The best part is that you can put some custom indicators into action, which will help you in your trading strategy. Direct FX does not accept credit cards for deposits and withdrawals. If your account is in a different currency, funds will be automatically converted into US dollars. Withdrawals can be done via Skrill or Neteller and take up to one business day.
With banks, fees may apply, and transactions usually take longer, up to 3 business days. The team of analysts monitors the market 24 hours a day to provide the most in depth daily reports.
These forex and binary options product reviews include economic snapshots and brief analyses on the major currency pairs; they will also update you on major economic events.
The Direct FX team works quickly and openly forex and binary options product reviews information with clients concerning price quotes, platform installation, withdrawals, and banking options. The support is available via online chat, phone and e-mail. There is also a direct phone line, based in Australia, which operates 24 hours a day from Sunday through Friday.
It is a fairly safe broker to trade with because ASIC is known for upholding high standards as a financial watchdog. The process of downloading and installing MT4 and the binary app is a bit slow, but this is normal for professional trading software.
The number of instruments and the choice of expiry times are limited, which can be a negative for traders who seek variety. It might take some time to become used to trading binary options on MT4 and learn all the indicators. Skip to main content. Forex and binary options product reviews FX binary options. Expiry time You can trade 60 second, 5 minute, 10 minute, 15 minute, 30 minute and 60 minute expiries. Indicators Traders can use the forex and binary options product reviews indicators available with MT4 and even add their own indicators to the charts and analyze the markets.
Assets You can trade major forex currency pairs and some cross pairs. Demo account You can test drive the Direct FX binary options platform on MT4 forex and binary options product reviews a free demo account that is valid for 30 days.
Live account To create a live account with Direct FX, you will go through a three-step registration process. Traders can have a live account in US dollars only. Strategy Having MT4 opens up many possibilities for traders who can build and use their own trading strategies in real time on the chart. Deposits and Withdrawals Direct FX does not accept credit cards for deposits and withdrawals.
The company is based in London, UK, and offers binary trading on currency pairs, crypto pairs and stocks. Traders can fund their accounts with a number of e-wallets, including Skrill and Neteller, as well as Bitcoin wallet.
Finmax is currently offering only binary options products, but the company aims to also add forex trading and CFDs in the near future. Thus far, it offers some interesting features, such as Social trading, which allows users to copy trades from the top traders on the platform. There are more than 75 assets available for trading binary options on a simple High or Low prediction.
Traders can easily choose a favourite list between currency pairs, crypto pairs, stocks and indices.
This platform comes with additional features, Social trading and Trading signals, implemented on the charts. Finmax uses the TradeSmarter platform, developed by a Singapore-based company.
TradeSmarter works to simplify trading with solutions for the Forex and Derivatives industry. The platform allows traders to profit on currency pairs, crypto pairs and stocks.
Once you open a contract with a fixed return, you can manage risk with additional tools: Hedge, Sell back and Double up. The expiry time includes the popular second, forex and binary options product reviews, 5-minute and 1-hour options.
In fact, for each contract, traders can choose from 27 different expiries that forex and binary options product reviews End of the day, End of the week and End of the month. Finmax offers over 75 trading assets that include currency pairs, crypto pairs, indices, stocks and commodities. The price quotes are delivered by Leverate. The platform chart has some basic tools, and you can switch between area and candlesticks.
The timeframes are 1h, 2h and 5h. You can also check the Trader Sentiment for each trading asset. The Finmax app is available only for android devices, and it is currently not listed in the App Store. The app allows you to trade all types of binary options but misses many features on the web platform. Social trading and Signals service. You can make the deposit before verifying the account, but if you want to place trades, you will have to pass through verification.
Once you send a copy of the documents, your trading account should be verified in less than 24 hours. There are four different accounts at Finmax, and traders can switch between accounts by simply adding more funds. If you need technical indicators, you will have to use the Meta Trader or TradingView platforms. The Finmax chart forex and binary options product reviews offers basic indicators. Finmax allows traders to fund accounts with Bitcoin wallets, as well as the following e-wallets: Neteller, Skrill and Webmoney.
You can also use MasterCard or Visa, as well as forex and binary options product reviews transfer. Client support is quick via live chat. You receive instant and direct answers to all kinds of questions concerning forex and binary options product reviews trading platform and your account. You may also contact Finmax via e-mail or phone.
Beginners can watch free educational videos to become familiar with the trading platform and possible strategies. The broker also runs weekly webinars that you can join for free. Currently, Finmax does not accept clients from the following countries: Finmax seems to be a trusted broker among the majority of binary traders but still has room to improve.
Finmax should definitely speed up the withdrawal process up to 24 hours maximum. Skip to main content. Finmax Review You are here Home. Currencies, Crypto, Stocks, Indices, Commodities. Expiry time The expiry time includes the popular second, second, 5-minute and 1-hour options. Assets Finmax offers over 75 trading assets that include currency pairs, crypto pairs, indices, stocks and commodities.
Chart The platform chart has some basic tools, and you can switch between area and candlesticks. Mobile App The Finmax app is available only for android devices, and it is currently not listed in the App Store.
Customer Support Client support is quick via live chat.
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