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Aristrex Review - Is it scam or safe?

Aristrex Review - is aristrex.com scam or good forex broker?

RATING: 2 / 0 REVIEWS Aristrex
Aristrex is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Account type Minimum deposit  Minimum trade size Maximum leverage Spreads (& Commission)
Standard $100 0.01 1:400 From 1.5 pips
Pro $5 000 0.01 1:400 From 0.8 pips
VIP $25 000 0.1 1:100 Raw spread + negotiable commission

 

Aristrex offers several forex trading account types, based on the minimum initial deposit. All of them offer variable spreads and access to three trading platforms.

 

Besides, the broker provides Islamic services that do not involve any interest or swap charges on overnight positions, as well as micro lots on Standard & Pro accounts. Portfolio management services are also available with Aristrex (minimum account size of $10,000).

 

The Company. Security of Funds

 

Company

Country

Regulation

Aristrex Limited 

Vanuatu

VFSC

Aristrex Limited 

Australia

registered as a foreign vompany with ASIC

 

Aristrex is a pure STP/ECN more than 40 popular currency pairs, CFDs on 9 major global stock indices, precious metals, and crude oil on several trading platforms, MetaTrader 4 included.  The company has offices in Vanuatu, Malaysia and Melbourne, Australia and is licensed offshore in Vanuatu. In addition, it is also registered with the Australian Securities and Investment Commission (ASIC) as a foreigh company. 

 

Vanuatu is an offshore zone, which offers a variety of tax benefits, however forex brokerages there are not regulated, no matter what they claims are. They follow a simple and low-cost registration process and must meet ridiculously low capital adequacy requirements: only $2000. To cut things short, if you invest with an offshore broker, your money is not safe. Therefore we advise traders to select a forex broker licensed in UK, or Cyprus, where traders have certain level of protection and where financial watchdogs exercise supervision over financial services providers.

 

Trading Conditions

 

Minimum Initial Deposit

Aristrex requires its clients to deposit at least $100 in order to open an account with them, which is average. Yet, many brokers require less. For example, XM (licensed by FCA, CySEC, and ASIC) demands just $5 from its clients as a start.

 

Average Spreads & Commissions

The variable spreads offered by this broker are actually above the average, starting out at 1.5 pips on EUR/USD. By comparison, XM provides spreads averaged 0.1 pips on its Zero account, and applies a commission of $5 per standard lot (per side). For more information, you may check out and compare real-time spreads of 15 leading brokers here.

 

Maximum Leverage

This broker offers leverage up to 1:400 which is at the upper end of the industry’s standard and is considered a high rate. Nonetheless, most ASIC-regulated brokers offer similar or higher leverage levels: CMC Markets – 1:500 and XM– up to 1:888.

 

Traders, however, should be careful with high leverage, lead to heavy losses exceeding their initial investments.

 

Trading Platforms

 

Aristrex offers its clients a choice of Three trading platforms: Vertex, Fortex and MetaTrader 4.

 

Developed by Hybrid solutions, VertexFX Trader is a customizable software and web enabled platform equipped with basic trading tools, advanced techniques for closing positions (such as closing all profitable positions), server side scripting, one-click trading option, etc. However, when we tried out the demo version, we found only 10 currencu pairs and precious metals offered for trade, and no micro tradeable lots. With this broker, Vertex is available as desktop, web and mobile versions.    

 

 Aristrex's downloadable VertexFX Trader platform. Click to enlarge.

 

Fortex is an ECN trading platform offering direct access to deep liquidity. In fact, liquidity providers cross-connect to the Fortex XCloud server grid through dedicated dark fiber, thus eliminating Internet transport, and reducing round-trip trade time to sub-1ms with 480-Gbps throughput. The Fortex XBook matching engine works as an ECN, representing each trader’s order in the interbank market to match with the best liquidity available.

 

Like most brokers, this one also supports MetaTrader 4 (MT4), the preferred choice of most traders, as the platform is easy to use and offers a number of technical indicators, extensive back-testing options, advanced charting package, and wide range of Expert Advisors (EA), allowing clients to fully automate their trades.

 

Methods of Payment

 

Aristrex offers its clients the following payment modes: credit/debit card (Visa, MasterCard, Maestro), bank wire transfer, e-wallets Skrill, Neteller, FasaPay, SolidPayments and Bitcoin.

 

Minimum Withdrawal: 100 USD.

 

Conclusion

 

Aristrex is forex and CFD broker licensed offshore that supports three trading platforms. Its spreads on Standard account types are not among the tightest, however the broker appears to be reliable and offers pure STP/ECN execution. The main concern one might have with Aristrex is that it is an offshore broker. Here are, in a nutshell, the pros and cons of this broker:

 

Pros

Cons

A selection of trading platforms, MT4 available

Spreads above the average

Low initial deposit required

Registered offshore

Pure STP/ECN broker

 

 

 

 

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Traders` reviews for Aristrex

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