If anyone needs any more affirmation that the Australian forex market is booming then this announcement by Direct FX that they are launching in Australia after acquiring ODL Australia’s license should suffice. ODL went through the licensing process and were awarded an Australian Financial Services license however never activated it and didn’t have any clients. As in Australia you cannot buy just an AFSL license you need to buy the whole company – and this is what Direct FX did.
In the last two weeks we saw an amazing number of global brokers receiving ASIC license – Saxo Bank, Ava Forex, FXOpen and Admiral Markets just to name a few. Several more brokers are awaiting an approval/activation any day now. If that wasn’t enough then Go Markets – Australia’s forex market leader – was acquired by Japanese/Hong Kong based holding Group AIP for undisclosed amount.
Direct FX Trading Pty Ltd, a leading online foreign exchange trading company, recently completed an all-cash deal to acquire ODL Australia Pty Ltd.
Direct FX is the market leader in trading development, management and delivery of technical information relating to trading and education. Under Direct FX’s corporate umbrella, the company will use the Direct FX Trading name. “Direct FX is excited about procuring its Australian Financial Services License and the ideal complement to Direct FX’s business strategy, and we are looking forward to leveraging that expertise to benefit our customers,” said Director Robert Martin.
Direct FX has also made a number of other significant changes to enhance its operations. The firm has teamed up with LaZorne Informatics to create a state-of-the art online application process that dramatically accelerates account approval. The streamlined process allows customers to open accounts and be approved for trading in as little as five minutes. “After completion of the application, more than 95 percent of applicants will be approved in 10 minutes,” Martin said. “Most firms take 24 to 48 hours to approve an account.”
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Direct FX also recently contracted with First Derivatives for bank software that facilitates price aggregation. Direct FX has top tier liquidity and operates with a Straight Through Processing (STP) model. This allows for tighter spreads to the customer, according to Martin.
Based in Sydney, Australia, Direct FX provides online trading in spot forex, metals and CFDs (Contracts for Difference). The company offers the easy-to-use MetaTrader 4 trading platform and makes markets in 31 currency pairs, including the Indian Rupee. They also make markets in the metals complex.Direct FX has very competitive spreads and is licensed (#305539) by the Australian Securities and Investment Commission, one of the most respected regulatory agencies in the world. In addition, the company is a leader in education and EAs (Expert Advisors). “We currently offer EAs on seven currency pairs and have just released a new-gold EA,” Martin said. “We have a dedicated staff of programmers available to create customer EAs.”
For more information about Direct FX, please visit www.directfx.com or contact Robert Martin at +612-9435-4407.
About Direct FX Pty Ltd
Direct FX Trading Pty Ltd was founded in 2006 by professional traders and foreign exchange industry veterans to provide forex traders with a fair trading environment. Since then, Direct FX has grown into a leading online foreign exchange trading company that serves the needs of retail and institutional forex traders worldwide. The company offers individual, joint, and corporate accounts as well as a full menu of services for institutional investors and asset managers, including the MT4 multi-terminal solution. Direct FX is owned by 6 partners who each have more than 20 years of experience in the forex and trading industry. They are members of the Chicago Mercantile Exchange, the Chicago Board of Trade and the Chicago Stock Exchange.