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Direktbroker-fx Review - Is it scam or safe?

Direktbroker-fx Review - is direktbroker-fx.de scam or good forex broker?

RATING: 3 / 0 REVIEWS Direktbroker-fx

Trading Accounts

 

Account type  Minimum deposit  Minimum trade size Maximum leverage Spreads (& Commission)
Silver €100 0.01 1:200 0.1 pips + €2.4/lot
Gold €5 000 0.01 1:200 0.1 pips + €1.2/lot
Platinum €25 000 0.01 1:200 0.1 pips + €1.2/lot

 

Direktbroker-fx offers several trading accounts, depending on the initial deposit amount, available on two platforms. All of them variable spreads, leverage up to 1:200 and micro tradable lots. The broker claims to offer ECN/STP execution and also that the risk for the client is limited to the money in the account.

 

The Company. Security of Funds

 

Company

Country

Regulation

Leverate Financial Services Limited

Cyprus

CySEC

 

Direktbroker-fx offers trading in a wide variety of financial instruments, such as futures, CFDs and forex on both Sirix and MetaTrader 4. This is a brand operated by Leverate, which targets mainly German investors. The company is a famous provider of software solutions for the forex sector. Besides Direktbroker-fx, Leverate also operates the Vinci Capital Markets brokerage brand.

 

Leverate Financial Services Ltd. is a Cyprus Investment Firm (CIF) licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). The company is headquartered in Cyprus, Limassol, and has offices in Berlin, Hong Kong, Kiev, Shanghai, and Tel Aviv.

 

CySEC requires CIFs to keep customer funds in segregated accounts, to hold at least €730,000 as a proof of good financial standing, regularly provide financial and trading reports and comply with various rules and standards.

 

As a further guarantee to clients’ funds, all CySEC-regulated companies are members of the Investor Compensation Fund, which can pay compensation to its covered clients up to €20,000, in the event a regulated broker becomes insolvent or ceases trading.

 

In accordance with the Markets in Financial Instruments Directive (Directive 2004/39/EC, MiFID), Leverate Financial Services Ltd is authorized to provide Cross Border Investment Services all EU Member States. Nonetheless, Leverate Financial Service is also registered with the German Federal Financial Supervisory Authority (BaFin) and the UK’s Financial Conduct Authority (FCA).

 

Trading Conditions

 

Minimum Initial Deposit

Direktbroker-fx’s clients are required to invest at least €100, which is an average amount to start with.

 

Spreads & Commissions

Direktbroker-fx offers variable spreads, which are really tight, averaged 0.1 pips on EUR/USD. Even if we add the applicable commission of €2.4 per standard lot round trip, the trading costs are incredibly low. However, we noticed that the execution on the Sirix web demo is slow, so may be slippage is an issue with this broker. In fact, that’s the main problem of Direktbroker-fx, highlighted in a user review in the FPA forum.

 

Leverage

The default leverage with this broker is 1:50, in line with CySEC’s latest regulations. The maximum leverage, however, is is 1:200, which is average. If you need higher leverage, you may check out a list of brokers, providing leverage equal to or exceeding 1:500 here.

 

Trading Platforms

 

Direktbroker-fx supports the popular MetaTrader 4 (MT4) platform, as well as Sirix.

 

In fact, the all-in-one forex and social trading platform Sirix is developed by the company behind the brand, Leverate.

 

 

Sirix allows investors to copy trades directly from the “Social Stream” section of the platform. The "Copy" function enables them to have positions opened, updated and closed without any explicit action or confirmation on their side.

 

The Sirix platform is equipped with built-in advanced indicators and charting options. Charts can be displayed in various timeframes and traders can add their own lines, measures and annotations. 

 

Traders may also connect to the platform using either a FIX or PHP API connection.

 

Methods of Payment

 

The following payment methods are available to Direktbroker-fx clients: credit/debit cards, bank wire transfer, and e-wallet payment systems, such as Skrill, Neteller & Safecharge.

 

Conclusion

 

Direktbroker-fx is a well-regulated broker that offers online trading in wide range of products with really good conditions. According to us, the main disadvantage of this broker is the slow execution speed. To sum up the above, here are the advantages and drawbacks with regards to this broker:

 

Pros Cons
Well-regulated Slow execution
Tight spreads and low commission fees   
Brand of popular FX software solutions company   
Choice of trading platforms, MT4 available  

 

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Traders` reviews for Direktbroker-fx

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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