DFXTrade Review Scores
DFXTrade
www.dfxtrade.com
Overall Score: 1.8 / 5
Total Votes: 18
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DFXTrade Discussion
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odee911

Member Since Mar 01, 2010  2 posts Victor (odee911) Mar 02 2010 at 08:48
I was looking for another broker to use along side Oanda so my friend referred me to DfxTrade. I tried out their demo and it was fast and user friendly, I got the hang of all the basic functions in a short period of time.

I decided to start a live account with them last month. The sign up was easy and quick and the support was very helpful when I had a few questions in mind. The real platform is no different than the demo, the execution was quick most of the time with the occasional price reqoute during hectic times. The great thing is the platform has afeature that prompts you if the price has changed after you executed and if you still accept that price...so this protects you from those NFP times.

I would have probably gave them a better rating but their spread isn't the lowest in the industry. But they do offer a spread cash back depending on your account type.

V

Fortune befriends the bold
Fable

Member Since Mar 03, 2010  1 posts Fable Mar 03 2010 at 19:01
I really like these guys so far, platform is quick , connectivity and execution flawless so far. I waited to make a few withdrawals to write this review. They have been honest and the customer support was pretty helpful during my signup process. I love their 0.5 spread rebate system its like free money!

fable

fxcombat

Member Since Mar 03, 2010  1 posts fxcombat Mar 03 2010 at 19:09
Great brokerage!

compuforexpamm

Member Since Aug 20, 2009  202 posts kennyhubbard (compuforexpamm) Mar 03 2010 at 19:25 (edited Mar 03 2010 at 19:29 )
Mmmmmmm interesting. My BS meter is tingling. 2 guys sign up within minutes each and both provide rave reviews about this broker as their very first posts.

I almost fell off my chair when Fable said the the 0.5 pips rebate is like free money.........do you realise that this is your own money that they are giving back to you?

Wealth Creation Through Technology
PipCollector

Member Since Jan 05, 2010  92 posts PipCollector Mar 03 2010 at 19:33

compuforexpamm posted:
    Mmmmmmm interesting. My BS meter is tingling. 2 guys sign up within minutes each and both provide rave reviews about this broker as their very first posts.

I almost fell off my chair when Fable said the the 0.5 pips rebate is like free money.........do you realise that this is your own money that they are giving back to you?


Hilarious!! I did fell off my chair when I read your post.. lol

Patience is a virtue.
Yonex

Member Since Oct 25, 2009  75 posts Yonex Mar 03 2010 at 21:08 (edited Mar 03 2010 at 21:19 )
This broker really seems like a scam.

1. Broker name 'DFX Financial Group SA'. Why does it have 'SA' in the end? It makes you think it is a Swiss broker doesn't it? So, where is the office? '320/F Hong Kong ICBC Tower Plaza, Hong Kong 8170 3445' and '16/F One Corporate Avenue 220 Hubin Road, Luwan District, Shanghai, Administrative Office'.
(http://www.dfxtrade.com/about)

2. They state that they are regulated by a lot of regulations. This page (http://www.dfxtrade.com/security) states that they are regulated by 'CySEC (under license no. 029/05)'. So, why would a Swiss broker sound-a-like in Hong Kong be regulated by the Cyprus Securities and Exchange Commission? A quick search for license no '029/05' does not return any results on (http://www.cysec.gov.cy/licence_members_1_en.aspx). However, one can clearly see that other brokers like FXPro, Tadawul FX, etc. are listed on the CySEC site.

3. Why would a fancy broker like DFX Financial Group SA have limited opening hours (8am - 4pm GMT), when they have 2 offices in 2 really fancy buildings (look at the pictures here http://www.dfxtrade.com/about)?

4. So, when was their website registered? According to whois, it was 'Created 25-jun-2009 Updated 16-oct-2009 Expires 25-jun-2010'.

5. Who registered the website? According to whois, the registrant is 'Domains by Proxy, Inc. Registered through: GoDaddy.com, Inc. (http://www.godaddy.com)'. Why would a company, regulated by a lot of regulators, not even have public whois information?

6. Why are different timezones used at different places? On the top, the time is in GMT (London), while here (http://www.dfxtrade.com/spreads) the time is in EST (New York).

7. On the website (http://www.dfxtrade.com bottom right), there are 3 awards. One from 'FXRUSH', one from 'Fx Reports', and one from one I cannot distinguish. So, who are these awarders? 'FXRUSH' (http://www.fxrush.com) seems like some random wanna-be-forex-forum that has been under construction for some ~2 years (Copyright 2008. FXRush.com. All Rights Reserved. Under Construction.). Not to mention the text below 'Advertise now!' on the front page is written in Latin... I cannot read it and Google cannot translate it. Furthermore, according to whois, the registrant is 'Domains by Proxy, Inc. Registered through: GoDaddy.com, Inc. (http://www.godaddy.com)' (again...?). Continuing to the next one, 'FX Reports'; where can the website if this awarder be found? I don't know... after searching on Google, I found nothing…

9. I don't think I need to mention anything more, but just for the sake of it; what about the 2 users 'Fable' and 'fxcombat' above? As 'compuforexpamm' mentioned, they registered minutes after each other, and their only post is favoring this wanna-be-Swiss-regulated-in-Cyprus-address-in-Hong-Kong-broker.

‘Nuff said.

Whoever said money can't buy happiness didn't know where to shop.
MyLiveEA

Member Since Mar 21, 2010  68 posts MyLiveEA Apr 14 2010 at 21:38
No your a nut ..S.A is used in many parts of the world as the symbol of of a corporaation..

Yonex

Member Since Oct 25, 2009  75 posts Yonex Apr 15 2010 at 19:24
@MyLiveEA

Thanks for challenging my superior knowledge, and saying that I am a 'nut'. I am exceptionally well aware that 'SA' is used in many parts of the world, but not in Hong Kong. In Hong Kong, 'Ltd.' and “Ultd.” are used, and not SA.

Why do you not enlighten yourself by having a look at
http://en.wikipedia.org/wiki/S.A._(corporation)
http://en.wikipedia.org/wiki/Types_of_business_entity#Hong_Kong

I am helping people not losing their money to a dubious broker, and this is how you show your appreciation?

Whoever said money can't buy happiness didn't know where to shop.
MyLiveEA

Member Since Mar 21, 2010  68 posts MyLiveEA Apr 17 2010 at 22:31
Hello again my bad I was assuming you were just ranting about the SS. which is used as you know all over the world, where we use INC they they would use SA. But you are correct I did a search on Cyprus Exchage and could not find them.

Though I would not go as far as calling them a scaam but I sure would not invest in any company where a red flag comes up.

I apologize for my statement your a 'nut'
Happy Trading.

Also am in need of a 5 digit broker meaning I need to be able to trade lot sizes .01,.02 and so on. I also need 500 or 400:1 leverage with no cap on the balance. So far the only one I found if FXSOL UK and Alpari UK
thanks
Randy

pipsaaja

Member Since Nov 11, 2009  3 posts pipsaaja Nov 25 2010 at 22:59 (edited Nov 25 2010 at 23:13 )
.

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