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