AUSFOREX Spreads, leverage, minimum deposit Revealed

WikiFX | 2021-05-10 11:44

Abstract：AUSFOREX was established in Melbourne, Australia in 2003. In 2005, it was approved and fully regulated by the Australian Securities and Investments Commission (ASIC). The headquarters was moved to London, UK in 2015. To better serve the global market, AUSFOREX has obtained UK financial Conduct Authority (FCA) EEA license, Hong Kong Securities and Futures Commission (SFC), and the Cyprus Securities and Exchange Commission full license.

　　General Information & Regulation

　　AUSFOREX was established in Melbourne, Australia in 2003. In 2005, it was approved and fully regulated by the Australian Securities and Investments Commission (ASIC). The headquarters was moved to London, UK in 2015. To better serve the global market, AUSFOREX has obtained UK financial Conduct Authority (FCA) EEA license, Hong Kong Securities and Futures Commission (SFC), and the Cyprus Securities and Exchange Commission full license.

　　Market Instruments

　　AUSFOREX provides the world's most popular Forex, Indices, Crude Oil, Gold & Silver, and CFD Commodities trading services.

　　Minimum Deposit

　　There are two account types: Standard Accounts and ECN Accounts. Both accounts requires a minimum deposit of $1000, which sounds way too high amount compared with most brokers. Investors should be cautious about trading with this broker.

　　AUSFOREX Leverage

　　The maximum leverage of forex is 1:400, which is a little bit high leverage. When creating an account, traders can choose from 1:100, 1:200, 1:300, then finally 1:400 as leverage options.

　　Spread & Commissions

　　The AUSForex ECN account offers lower spreads, but involves a commission of $10 per standard lot, while the STP account provides commission-free trading and comparatively high spreads. Floating spreads, the main spreads for ECN accounts are EURUSD 0.2, GBPUSD 0.5, USDJPY 0.5, gold 1.1, crude oil 2.6; STP accounts are EURUSD 1.5, GBPUSD 2.0, USDJPY 2.0, gold 3.5, and crude oil 4.6. Three times the swap will be charged on Wednesday. See the following swap chart:

Product	Long	Short	Product	Long	Short
AUDCAD	0.35	-4.290869	AUDCHF	0.43	-4.05324
AUDJPY	0.45	-3.869802	AUDNZD	-4.294624	0.07
AUDSGD	0.735	-8.504902	AUDUSD	0.126	-0.968695
CADCHF	0.98	-4.2215	CADJPY	-0.6	-3.959

　　Trading Platform Applied

　　Trading platforms including MetaTrader4, MetaTrader5, PAMM management account, and MAM system are employed by AUSFOREX. MetaTrader 4 is a trading platform with personalized functions. Traders can set the interface of the trading platform according to their preferences, and it features professional charting tools, 20 technical analysis indicators, risk management tools, and real-time news, providing a complete one-stop trading environment for novices and experienced traders. The MetaTrader 5 platform offers advanced financial trading functions and more advanced technical analysis and basic analysis tools. Traders can also use Expert Advisors and trading signals to automatically complete transactions. PAMM can enable multiple sub-accounts to trade through one master account at the same time. This plug-in allows brokers/financial planners/professional traders to trade for multiple clients at the same time. The Multi Account Manager (MAM) function of the platform's fund manager account can provide solutions for multiple clients to execute trading systems at the same time.

　　Deposit & Withdrawal

　　AUSFORE provides various deposit & withdrawal methods. All online transaction data is encrypted with up to 256-bit SSL technology to provide traders with international banking standards protection. Support wire transfer, bank card, VISA, MasterCard deposit & withdrawal, wire transfer, and deposit & withdrawal via Visa/MasterCard with some fee charged by banks.