Is DirectFX Australia a fake?
They seem to be using the same name as another NZ company that has nothing to do with them.
Their Sydney address & tel. seems to be fake. All calls are redirected to Chicago and answered from there.
Their disclaimer states that Americans are not allowed to trade through this broker, why?
Their demo account is not fully functional, the so called news items are more than a day old. This doesn't help.
They don't reply to any email queries
As you may have seen in the review section I have recently begun monitoring and updating the forums for Direct FX. I came across your posting here and, although a few years after the fact I wanted to address the questions in case others had them.
1. Is Direct fX Australia fake? - No, I can assure you we are as real as the sun. We have been in operation since 2006, beginning in the United States before moving our headquarters to Australia in 2010.
2. As with any company name that is popular, others trying and piggyback off it to gain traction, thus a firm in NZ with a similar name. If you take a look at their site though, they perform FX currency exchange transactions; where we provide spot currency trading.
3. We have global offices around the world to best services our clients. Depending on the time of day, and demand calls get routed to specific offices.
4. We do not allows United States clients to trade through us as a result of not holding an NFA license.
5. We have updated our news source since your post, and it is streamed in realtime as the market is moving.
6. I apologize on behalf of Direct FX for some of our past employees. Over the 6 months we have completely overhauled this division of Direct FX. If you have this issue in the future, please contact me directly and I will look into the matter promptly.
Please, if anyone has any questions, or commits about Direct FX please feel free to leave them here and I will be happy to get back with you.
This is a SCAM company. When you start to trade profitably, they arrange for you obstacles. For me they banned the trading CFDs and switched to another LP, which executes orders at the end of the candle. I did trade on news. It is a Scam.
Thursday’s unexpected announcement by the Swiss National Bank that it would abandon its 3 year old cap on the Swiss Franc’s value against the Euro resulted in extreme volatility in the FX markets.
There were significant price gaps and periods of illiquidity in Swiss Franc pairs immediately following the surprise announcement but we continued to provide prices to our traders and filled client orders as liquidity became available. As a result we stand by Thursdays trades and will not adjust any trade executions. Additionally, we will be forgiving all negative client balances that were caused by price gaps. (where permitted by regulations).
After a thorough review we can report Direct FX’s balance sheet had no material impact due to the recent CHF volatility. We will continue to take a conservative approach when managing exposure to global currencies as to mitigate these risks in the future.
I understand that some of you may have questions regarding this week's unprecedented events. I encourage you to contact us with any questions you have at Contact Us - Direct FX
As indicated in previous emails, we have temporarily increased the margin requirement for all CHF pairs to 5% (20:1) leverage until market conditions stabilize.
I´ve been trying to make a withdrawal with direct fx 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.
Is directFx still have a representative here? Or do they use a different forum?
I will have to admit BrokerBuster is not entirely off the mark. I remember when IBFX had their Au office. Almost all customer service was still handled from their USA office. No one was allowed to visit their Australian office. Some people who are local to Australia may have a problem with this.
I had a client open an account to participate in the TopTradr program. He did everything during Australian daytime business hours, but was wondering what was taking so long to obtain approval. It turned out that new accounts was handled out of the Chicago office. That was the first time he heard of Chicago. No mention of Chicago was mentioned on the DirectFx website.
You advertise Direct Market Access, but your mt4 spreads are a bit to be desired. Is there any reason why you cannot issue raw spreads + separate commissions on mt4? (give the client the option?). We never get a straight answer on this when we ask the question.
I do not have a problem with brokers having multiple jurisdictions, but after SNB I think more traders and fund managers are legitimately asking where the broker really operates out of.
Also, there are several names coming up for Trent Hoerr in Skype. Which Skype name is correct?
Are there any public forums that you (or directfx staff) participate in regularly (answer client questions or potential questions)?
Per our Skype conversation and just so everyone else is aware. I no longer am an employee of Direct FX and have had no connection to them since January 2016. Regarding your questions about my different Skype accounts. Because I have worked for several companies I had Skype accounts created for each of them and no longer have access to 2. I have asked Skype to remove these, but because they are not technically mine they refuse to do so.
I no longer actively monitor this message board or any of the ones for Direct FX and I am unsure if they have anyone who does monitor them.
Should anyone have any issues or wish to speak with DirectFX I would suggest contacting their customer support at: email@example.com.
Our company has tried to withdraw all the funds from an account for more than 4 weeks, exactly since October 9, 2017. At first Direct FX confirmed the availability of funds and that the withdrawal would take between 2 and 3 days; they even offered assistance if needed.
However, after that they have put many obstacles and have not processed our withdrawal request; and now they won't even reply to our emails.
It is worth mentioning that the funds are our property and they cannot continue to be withheld by Direct FX. Furthermore, we want to make it clear that such funds are not the result of any profit.
Consequently, we don't understand why our emails in the past two weeks have not been answered, nor the withdrawal request has been carried out.
We have sent emails to Brian King, Erik Shaban and Darrell Shields, but, as mentioned above, they have not been answered.
We would appreciate if there is anyone who could provide us with more information on this Broker, since we are very concerned about our request not being processed, and our money not being returned to us, as agreed.