FX Corp Forex Broker
Basic Information
Australia
10-15 years Regulated in Australia Market Maker (MM) Suspicious Scope of Business High potential riskCompany profile
Rating Index
FX Corp Forex Broker - Complete Information Guide
1. Broker Overview
FX Corp, also known as FX Corp Pty Ltd, was established in 2013. The company is headquartered at Level 14, 1 Castlereagh Street, Sydney, NSW, 2000, Australia. FX Corp operates as a private entity, providing services primarily in the foreign exchange (forex) market. The broker caters to a diverse clientele including individual retail traders and institutional clients, offering a range of forex and CFD trading options.
Over the years, FX Corp has developed its operations significantly, marking milestones such as obtaining regulatory licenses and expanding its service offerings. The broker's business model focuses on retail forex trading, providing clients with the necessary tools and platforms to engage in currency trading effectively.
As a forex broker, FX Corp is involved in various trading activities, including spot contracts, forward contracts, and options trading. This multi-faceted approach allows the broker to address the needs of different market participants, whether they are individual traders or larger institutions seeking forex solutions.
2. Regulatory and Compliance Information
FX Corp operates under the regulatory oversight of the Australian Securities and Investments Commission (ASIC) and the Australian Transaction Reports and Analysis Centre (AUSTRAC). The regulatory license number for FX Corp is 459050, which allows the broker to deal in and provide advice regarding foreign exchange contracts and derivatives.
The license is valid under the stringent regulations imposed by ASIC, which require compliance with various financial obligations, including solvency and liquidity requirements. FX Corp is committed to maintaining client fund security by implementing a segregation policy, ensuring that client funds are held separately from the broker's operational funds.
In addition to its regulatory obligations, FX Corp adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures. These protocols are designed to protect both the broker and its clients from fraudulent activities and ensure that all transactions are conducted within legal frameworks.
3. Trading Products and Services
FX Corp offers a wide array of trading products, primarily focusing on forex pairs. The broker provides access to numerous currency pairs, including major, minor, and exotic pairs, catering to the diverse trading strategies of its clients. Additionally, FX Corp offers Contracts for Difference (CFDs) on various asset classes, including indices, commodities, stocks, and cryptocurrencies.
The range of available instruments is regularly updated, with new products introduced to meet market demands. FX Corp also provides retail trading services that empower individual traders with the resources they need to succeed in the forex market. Furthermore, institutional clients can benefit from tailored services that include liquidity provision and risk management solutions.
For those interested in white label solutions, FX Corp may provide options that enable other businesses to offer trading services under their brand. Asset management services are also available, allowing clients to leverage the expertise of FX Corps trading professionals.
4. Trading Platforms and Technology
FX Corp supports the widely-used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are known for their robust trading capabilities and user-friendly interfaces. Additionally, FX Corp has developed its proprietary trading platform, which is designed to offer a seamless trading experience for both novice and experienced traders.
The broker also provides a web-based trading terminal that allows clients to access their accounts and trade without the need for software installation. For mobile traders, FX Corp offers a mobile application compatible with both iOS and Android devices, ensuring that clients can trade on the go.
In terms of execution models, FX Corp employs an ECN (Electronic Communication Network) and STP (Straight Through Processing) model, which facilitates direct market access and enhances trade execution speed. The broker's technical infrastructure is supported by servers located in strategic data centers, ensuring minimal latency and reliable connectivity.
FX Corp also offers API access for automated trading, allowing clients to implement algorithmic trading strategies effectively.
5. Account Types and Trading Conditions
FX Corp provides several account types to accommodate the varying needs of its clients. The standard account requires a minimum deposit of $2000, offering competitive spreads starting from 0.7 pips. For more advanced traders, FX Corp offers an ECN account, which also requires a $2000 initial deposit and provides direct access to interbank liquidity.
The broker allows leverage ratios that can reach up to 1:400, depending on the account type and asset class. Clients can trade with a minimum lot size of 0.01, which is suitable for both new and experienced traders. Additionally, FX Corp offers overnight financing policies, commonly referred to as swap rates, which apply to positions held overnight.
For clients interested in practicing their trading strategies, FX Corp provides a demo account option, allowing traders to familiarize themselves with the trading platform and market conditions without risking real capital.
6. Fund Management
FX Corp supports a variety of deposit methods, including bank transfers and credit/debit cards. The minimum deposit requirement varies based on the account type, with the standard account requiring a minimum of $2000. Deposits are processed promptly, typically within one business day, allowing clients to start trading quickly.
The broker does not charge deposit fees, making it cost-effective for clients to fund their trading accounts. Withdrawal options are similarly diverse, with clients able to withdraw funds through bank transfers. However, FX Corp may impose withdrawal fees depending on the method chosen, and processing times for withdrawals can vary, typically taking up to five business days.
FX Corp emphasizes transparency in its fee structure, ensuring that clients are aware of any applicable charges before they initiate transactions.
7. Customer Support and Educational Resources
FX Corp offers customer support through multiple channels, including phone, email, and online chat. The support team is available during business hours, covering various time zones to assist clients from different regions. The broker provides multi-language support, catering to a global clientele.
To enhance trader knowledge and skills, FX Corp offers a range of educational resources. These include webinars, tutorials, and eBooks that cover fundamental and technical analysis, trading strategies, and market insights. Additionally, FX Corp provides market analysis services, delivering daily reports, news updates, and research materials to keep traders informed.
The broker also offers trading tools such as calculators and economic calendars to aid clients in their trading decisions.
8. Regional Coverage and Restrictions
FX Corp primarily serves clients in Australia and various international markets. The broker has established a regional presence, with offices in key locations to support its global operations. However, FX Corp does not accept clients from certain jurisdictions, including countries with strict regulatory environments that may prohibit offshore trading activities.
Specific restrictions may apply based on local laws, and potential clients are encouraged to check the brokers website or contact customer support for detailed information regarding their eligibility to open an account.
In conclusion, FX Corp presents itself as a forex broker with a comprehensive range of services and products designed to meet the needs of both retail and institutional clients. However, prospective traders should conduct thorough research and consider the regulatory status and operational transparency of the broker before engaging in trading activities.
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Latest Reviews
Asif522
Germany
They text me on social media and made friendship with me and talk like a normal friend and told me about his family etc to make trust and asked about me and my job and savings etc and then he said I'm so poor and he showed me some screenshots and said I've invested in Gold market (XAUUSD.G) and my uncle has more than 25 years experience in this market. He showed me more than 10,000 $ profit on every trade and said this opportunity is also for you. Then i said okay i will try with some amount just for check. I deposited 500€ and made profit 50$. He said more money make more profit and like so i added more and more money approximately 10,000 $ in just one and half month and i got profit more than 70,000$. And when i wantet to withdraw some amount they said i must pay tax extra and i must deposit 5000$. I was in shock. Actually in initially i tried to do withdraw some money and it was working that's why i was satisfied. And infect they was trying to take my trust on them. And so that they scammed me. This application still in my phone. They are still asking to pay tax on whatsApp. I reported to police but i don't know if they can help me. So please aware from this gang. No one calp you in trading.
Exposure
2023-09-07
Ishi6951
India
It's a big scam company , hired female staff for making people especially young generation fool with thier tricks.. Don't invest single penny in this.. Just in case you got friend request on FB, what's app, Instagram or any other platform just bear in mind these are scammers.. I have lost 2700 USD in FX corp.. You can deposit money but you can't withdraw.. The FX corp people will win your trust first and dream you big finance.. Will push you to invest more every time and get 10% profit every time.. But this profit is only a scam as you won't be able to withdraw your money at any cost.. When you try to withdraw from FX corp or Aradmax or ency FX they all are same, they won't let you withdraw any money.. They have won my trust because at first they allowed me to withdraw small amount so i can trust them more n more.. But when you actually want to withdraw they will say first deposit another 1000 USD as tax of your region .. Kindly stop investing in these kind of scam apps or trades.. Thanks Sharing some pictures of thier trap.. Thier numbers are here too.. Kindly take action against them..
Exposure
2024-01-25