April 25, 2012: Numerous fake and suspicious reviews submitted. Direct Fx has told the FPA that most of these were due to an intern requesting that friends leave fake reviews.
The FPA advises caution dealing with this company.
DirectFX are forex brokers. DirectFX offers the MetaTrader 4 and MT Mobile global forex trading top platforms. DirectFX.com offers over 30 of the most traded currency pairs, cfds, metals, and binary options for your personal investment and trading options.
- Not guilty0
|Case ID||Filed||Case name||Verdict|
|2017-004||2017-01-06||Case# 2017-004 | 4evermaat vs DirectFx.com||guilty|
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DirectFX.com profile provided by Trent Hoerr, Jun 1, 2014
Direct FX is an ASIC registered Forex/CFD provider that has been in operation since 2006. Beginning as an RFID, registered with the NFA/CFTC in the United States allowed Direct FX many opportunities to expand. In 2010, that firm moved the headquarters to Sydney, Australia, where it currently resides, and aquired an AFSL. Direct FX offers three trading platforms (MT4, Tradable, and CQG FX). The CQG FX platform is exclusively offered at Direct FX. Coupled with the trading platforms is access to over 48 currency pairs, precious metals, 30 CFD instruments, and 400+ instruments available based on demand. Direct FX offers VPS technology and educational material to complement every traders needs.
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Excellent communication, prompt payment
Have completed two NZD - AUD and one AUD-NZD trade with these guys in recent years and in every instance I've found their rate better than anyone else, and their communication throughout the process excellent. Money has always arrived into my account within 24-48 hours of their confirmation of receipt. Would highly recommend.
I change my review to 3 stars. They paid after wee after some emails. They would take 4-6 business days to process the withdrawal. For a regulated broker is too much. The brokerage product is good.
Feb 6, 2017 - 1 Star I opened an account with DIRECTFX 11 september 2014.
The 1th february 2017 I requested a withdrawal 6334USD. The sameday I received Fom Mr Darrel an email informing they have received the withdrawal request in the amount of $6,334 and asking to allow 2-3 business days for processing before funds are dispersed.
I sent 3 email requesting why my withdrawal is not processed and the funds are still in my MetaTrader account. I had no reply.
I chatted with DIRECTFX the 3th february and they told me the withdrawal will be completed in few hours. I chatted again the 6th february and they told me to call 2 hours later so Mr Darrell will come back.
I tried to chat again for speaking with Darrell but the chat is busy and for 1 hour I receive the same message
"All agents are currently assisting others. Your estimated wait time is 0 minutes and 30 seconds. Thank you for your patience."
Maybe DIRECTFX is scamming their customers but for sure is not processing the withdrawal request
Is InDirectFx running some type of ponzi scheme? Withdrawal delays are bull**** for regulated broker.
Issue escalated to Traders Court Case# 2017-004 | 4evermaat vs DirectFx.com | GUILTY
Where do I begin?
1) Their trouble ticket system to submit support requests completely sucked. There were tickets that were not responded to (likely ignored) for days or weeks at a time. Withdraw request that either were not responded to (ignored). I made them aware via live chat and email, which was a bit more responsive; not sure what they did about it. The attitude was very nonchalant. They got a little better with support over time, only after I persisted.
1b) Support that you do get is done out of their Chicago, USA office, not from Australia. So they are only in Australia on paper. This wouldn't be so bad if they made sure the Chicago staff woke up early/stayed late to cover the Au shift. But they expected the client to conform to USA timezone.
2) Their chart price feed is intentionally different that their Mt4 live market watch (terminal) prices. This is especially confusing if you trade by the chart or otherwise want to keep track of trades from the chart. When you enter a trade, there is instant slippage of 0.5-1 pip. I brought this to the attention of support team and they first claimed that it was mt4's fault. Then they said some clients preferred it that way. But when I pressed further, they could not show how this would benefit the trader or any trader for that matter. Mt4 allows a lot of things, but the broker chooses to use it.
3) Withdrawals process was terrible. They would take 4-6 business days to process the withdrawal, and only after I got some industry contacts involved to 'convince' the staff to process it. They stalled with every trick imaginable, and I often wondered if they were just waiting for another deposit to arrive first before paying my withdrawal. So I made the 2nd withdrawal my second and FINAL one.
4) What was particularly nasty is that they were connected to TopTradr, which is advertising that aspiring professional traders can get allocated capital if they win their bi-weekly trading contests. They were only connected to DirectFx brokerage at the time (although now I think STO is also connected). That was actually the ONLY reason why I even gave this joker....errr....broker a chance. I wonder how many other traders were convinced that depositing with this bucket shop would actually lead them to successful career? I don't know TopTradr's involvement, but placing distance between yourself and NotDirectFx would likely be a good thing. It wasn't worth losing the deposit.
I encourage anyone who has waited longer than 24 business hours to receive withdrawal to simply submit a complaint with ASIC directly. ESMA already forcing EU brokers to process withdrawals same business day, which is already industry standard (24 business hours max).
There is a lot more drama with this broker that I will include in the scam report.
Directfx is SCAM
I think DirectFX is a SCAM. As soon as my account started to grow they disabled the auto trading all together. So they want you to always lose. They do whatever they can from manipulating the trades and deactivating the platform not to allow you to win...
I have been trying their binary account for about 2 months.
If you start winning, they do everything, everything, everything to make you lose.
They easily makes your EA disabled.
They are not afraid of any regulation,
There is a person sitting there , manipulating the trades.
If a winning trade is finished, you see that it is still open and active .
Maybe you lose !
When you are in lose, your trade will be closed much sooner than the expiration time.
I live in Sydney, they are located in Sydney.
They tought me that, highly ASIC regulated brokers are scammers
Like all the other unregulated brokers.
You can easily test them by having multiple 1000$ binary trades.
They can not tolerate you win at all.
Babak from Sydney
MT4 acc 4500
I ordered the withdrawal 07/11/2016
It was held exactly one week
ignored my appeals
I am afraid that my money stolen
Terrible broker with absolutely devastating customer service. They are very nice when you have to deposit money. I have been trying to take money out for 2 weeks and have been unsuccessful . The support team wont even reply back to my messages.i have sent them over 20 messages with not a single reply back. Avoid this brojer at all cost just trust me on this!!!!!!.
I think this company is underrated. Have deposited 10 k at the first time and trading worked good. I am a position trader and do not scalp. Withdrawal worked very fast in 5 hours I had my money back in my ewallet. They are ASIC regulated and I like their offer to deposit per Neteller free of charge. Service via chat is exzellent, too. I have redeposited and will continue to trade with them.
SCAM Broker!! Deleted profitable news trades for a whole month!
Be careful!! They are 100% a MM !!
I´ve been trying to make a withdrawal since 2 weeks ago. first say my withdrawal has been approved after a week I contact again and
say we´ll contact you shortly I sent a mail to Joe O´Mara And I still don´t get any reply.