OXDFX Forex Broker

OXDFX Forex Broker - Complete Information Guide

1. Broker Overview

OXDFX, operating under the full name Oxford Forex Limited, was established in 2017. The broker is headquartered in the United Kingdom. As a private entity, OXDFX primarily serves retail clients, offering a range of forex trading services. The company has rapidly developed its platform since its inception, aiming to provide a user-friendly trading experience.

The broker's primary market includes individual traders looking for forex and CFD trading opportunities. OXDFX has made significant strides in its growth trajectory, establishing itself within the competitive forex landscape. However, it is essential to note that OXDFX has faced regulatory scrutiny and complaints from users, raising questions about its operational integrity.

The company's business model focuses on retail forex trading, offering various account types to cater to different trading needs. OXDFX promises competitive trading conditions, including leverage options and multiple account types, to attract a diverse clientele.

2. Regulatory and Compliance Information

OXDFX is registered with the Financial Conduct Authority (FCA) in the UK, holding the license number 769915. However, it is crucial to highlight that OXDFX has faced revocation of its regulatory status, which raises significant concerns about its compliance and operational legitimacy. The lack of a valid regulatory framework can expose clients to various risks.

The broker claims to adhere to a customer funds segregation policy, ensuring that client deposits are kept separate from company funds. However, details regarding participation in investor compensation schemes remain unclear, as OXDFX does not provide comprehensive information on this aspect.

In terms of compliance, OXDFX asserts that it follows Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, yet the effectiveness of these measures is questionable given the broker's low reputation and multiple user complaints.

3. Trading Products and Services

OXDFX primarily focuses on forex trading, offering a selection of currency pairs. The specific number of forex pairs available is not explicitly stated, but the broker typically provides major, minor, and exotic pairs to cater to various trading strategies.

In addition to forex, OXDFX advertises CFD trading options, although the exact categories—such as indices, commodities, stocks, or cryptocurrencies—are not detailed extensively in available resources. The broker appears to lack a robust offering in cryptocurrency trading, which is increasingly popular among retail traders.

The frequency of product updates and the introduction of new trading instruments remain unspecified, indicating a potential limitation in the broker's adaptability to market demands. OXDFX primarily targets retail traders, with no clear indication of institutional services or white-label solutions being offered.

4. Trading Platforms and Technology

OXDFX supports the widely used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, allowing traders to utilize advanced charting tools and automated trading features through Expert Advisors (EAs). The availability of these platforms enhances the trading experience, as they are known for their user-friendly interfaces and extensive functionalities.

While there is no indication of a proprietary trading platform, OXDFX does provide access to web-based trading solutions, catering to traders who prefer browser-based environments. Additionally, mobile applications for both iOS and Android are available, enabling traders to manage their accounts on the go.

The execution model at OXDFX includes ECN and STP, aiming to offer competitive spreads and fast order execution. However, the broker's server locations and technical infrastructure details are not disclosed, which could impact the overall trading experience.

API integration and support for automated trading are also mentioned, allowing tech-savvy traders to implement their strategies efficiently.

5. Account Types and Trading Conditions

OXDFX offers three main types of trading accounts: Standard, ECN, and Pro. Each account type requires a minimum deposit of $500.

• Standard Account: Typically features higher spreads starting from 2.3 pips.
• ECN Account: Designed for traders seeking lower spreads, often with a commission structure.
• Pro Account: Aimed at more experienced traders, this account type may offer tighter spreads starting from 1.5 pips.

The leverage options at OXDFX vary based on the deposit amount, with a maximum leverage of 1:400 for deposits up to $5,000. The minimum trading lot size is 0.01, allowing for flexible trading strategies. However, the broker's overnight fees and specific commission structures are not clearly outlined.

6. Fund Management

OXDFX supports various deposit methods, including bank transfers, credit cards, and e-wallets. The minimum deposit requirement across all account types is set at $500.

The processing time for deposits is typically immediate, but specific details on deposit fees are not readily available. Withdrawal methods and conditions remain vague, with reports of potential delays or restrictions on fund access, which raises concerns about the brokers reliability.

Withdrawal processing times are generally stated to be within 1-3 business days, but this may vary based on the method used. The fee structure for withdrawals is also not explicitly detailed, suggesting that traders should inquire directly with customer support for accurate information.

7. Customer Support and Educational Resources

Customer support at OXDFX is available through multiple channels, including telephone, email, and potentially live chat. The primary contact number is +40 (0) 2077969911, and inquiries can be sent to cs@oxdfx.com.

The broker operates primarily in English, which may limit accessibility for non-English speaking clients. The service hours and time zone coverage are not specified, which could affect response times for international traders.

In terms of educational resources, OXDFX appears to offer limited materials. The availability of webinars, tutorials, or market analysis services is not well-documented, indicating a potential gap in support for novice traders seeking to enhance their trading knowledge.

8. Regional Coverage and Restrictions

OXDFX primarily serves clients in the United Kingdom and potentially other regions, although specific details on regional offices or operational jurisdictions are not provided. The broker does not accept clients from certain countries, but the exact list of restricted regions is not disclosed.

It's essential for potential clients to verify whether their country of residence is eligible for trading with OXDFX, as regulatory restrictions may apply. Special limitations or conditions related to specific products or services are not explicitly mentioned in the available documentation.

In conclusion, OXDFX presents itself as a forex broker with various account options and trading platforms. However, the lack of clear regulatory compliance, coupled with multiple user complaints, necessitates careful consideration before engaging with this broker. Potential clients should conduct thorough research and weigh the risks associated with trading through OXDFX.