I’m off to a pretty good start with the DfxTrade Demo Quick Challenge! I’m up 10% already over 2 days, My goal and strategy for this contest is to use higher leverage and be very aggressive in the short term time frames… this way I can maximize my pips! You can check their current rankings at http://www.dfxtrade.com/demo-quick-challenge. My username there is ellie007! The competition is very high here as you can see! Wish me luck everyone!
March 1, 2010
February 22, 2010
Demo Challenge
Hey guys just want to give a heads up! My primary broker DfxTrade that I have been bloggin about is having a Demo challenge! 1st place gets a live $2000 funded account. So far Ive been having a good few trading months and am very happy with this broker. The sign up for demo is quick and easy. This contest is only for 2 weeks I will be posting my results here every few days! Wish me luck!
Ellie
February 10, 2010
Hi everyone!
As promised, I am here to update about my experience with DfxTrade. After 3 months of using their demo I have decided to start a live account with them. They have some promotions right now depending on your account size you have lower spreads and some form of monthly account interest. I wanted to take advantage of their lower spread accounts so I opened up a Vantage account which is minimum of $10,000.
Sometimes signing up with a new broker stresses me out because their sign up process would be so confusing … IE FXCM !! wow has anyone seen their site? Anyways the sign up process was quite smooth with DfxTrade, it took about 6-7 minutes to fill out the online form and within a business day my account was live and ready for funding.
OH YES!! Just thought this deserved its own lil paragraph. For every standard lot traded I received 5$ back into my account after the position is closed regardless of the outcome. This is a very nice bonus for me since my strategy calls for many short term trades (scalping).
Here are some other things that I want to point out some pros and cons so far.
• I don’t want to list the DfxTrade Platform under cons, because in the end I find it to be a wonderful platform, but the learning process certainly takes a little patience. This platform is not like others that brokers offer, it’s fully customizable and offers quite a bit of flexibility. Overall, if you give the Dfxtrade Platform a chance, I think you’ll come to appreciate its unique design, especially if you trade a lot.
• Order Types – great choice of order types, but I don’t think they offer anything to special, so I won’t be listing this as a pro or con.
• Customer Support – they certainly don’t fail here. I’ve never had an issue in this area…from the moment I opened my account to a few trades I’ve questioned, I always seemed to get a polite and genuinely helpful rep to assist me.
• Execution – for the most part, it’s always been on point. I’ve had the occasionally slippage price prompt I had to question, but for the amount of trades I run, I’ve been very pleased with the performance. And usually this only happens during extreme volatility
• Reliability – not an issue, platform is up all the time with the exception of maintenance and one or two down times that I can recall in the past 3 months due to technical issues.
• Charting is sufficient I wouldn’t go out to say its great since it could use some more indicators. But all the ones that I need and use are there and the ability to trade from the charts and see visually my tp and stop is very useful.
• Spread/Commission. Whats great is there are no hidden fees or commissions for opening and closing a trade. I am only charged a fixed spread and depending on the account type you chose you get a spread rebate cash back for each trade you place.
Anyways, everything is going well! I am planning to test the withdrawal system and see how quick that gets processed. Please stay tuned for my next update, I will take some screen shots of some of my trading as well!
May all your trading be fruitful!
Ellie