COMMEXFX

  • Name:COMMEXFX
  • Website:http://www.commexfx.com/
  • Location:Limassol,Cyprus
  • Found in:2011
  • Regulation Authority:CySEC, The Cyprus Securities and Exchange Commission (License Number 153/11, Registration Number HE 244012
Editorial Rating:
2.05
Accept US Traders:
No

CommexFX.com

“Exceeding excellence” according to their corporate mantra, CommexFX is an ECN broker is based in Cyprus but regulated by four international governing bodies: CySEC (Cyprus) FCA (UK), CNMV (Spain) and BaFin (Germany).

Established in 2011 with the sole intention of providing ECN (Electronic Communication Network) trading for its customers, CommexFX benefits from its footing in four foreign exchange bases. Indeed, because ECN brokers work on the basis of collating the best currency exchange prices from a number of banks, liquidity providers and financial institutions, having an international reach means it easier to access more of the market.

As a testament to this broker’s growing reputation a number of awards sit inside its virtual trophy cabinet. In 2012 CommexFX was named the Best ECN Forex Broker at the MENA Awards, Asia’s Best ECN Newcomer by the Global Banking and Finance Review.

On top of this the CIOT EXPO China’s award for the Best Online Platform 2013 makes this one site that’s well recognised as a top performer in the FX industry.

CommexFX.com’s Special FX:

One of the reasons why CommexFX has been the recipient of multiple awards so soon after its launch is a focus on “trading without limits”. Some brokers will limit the amount of investments high volume traders can engage in during trading hours, but CommexFX has consciously made this a non-issue.

Keen to see people at the top end of the spectrum do well, CommexFX permits the use of client-scalping and hedging to help increase profits whilst reducing risk. Moreover, the use of Expert Advisors is fully permitted, even if they aren’t compatible with the site’s cTrader platform. Indeed, thanks to cAlgo (a software plug-in), users can port their EAs directly into cTrader without the need for manual intervention.

Not simply looking at the traders at the top of the Forex tree, CommexFX has put together a comprehensive training system that outlines the strategies commonly used by expert traders. On top of this a full glossary of terms and outline of order types means a complete novice can quickly become proficient in the fundamentals of the foreign exchange market.

The Essentials:

MetaTrader 4 and cTrader provide the virtual backbone for CommexFX.com’s three private trading accounts. Although somewhat different in their construction, MetaTrader 4 and cTrader both give users direct access to the FX market and allow hedging, mobile trading and the ability to access live market information online.

The three basic Forex accounts on offer at CommexFX are:

ECN-Classic:
Minimum account size = $200
Minimum position size = 0.01 lot
Variable spreads typical from 2 pips with a minimum of 0.1 pips on major currency pairs.
Commission charge (one-way) per 1 standard lot traded = $5
Leverage = 1:400
Digits quoted after the comma = 5
Margin call level = 50%
Stop-out level = 10%
Number of currency pairs available = 22

ECN Standard:
Minimum account size = $2,000
Minimum position size = 0.1 lot
Variable spreads typical from 2 pips with a minimum of 0.1 pips on major currency pairs.
Commission charge (one-way) per 1 standard lot traded = $5
Leverage = 1:200
Digits quoted after the comma = 5
Margin call level = 50%
Stop-out level = 10%
Number of currency pairs available = 22

ECN-Premier:
Minimum account size = $25,000
Minimum position size = 1 lot
Variable spreads typical from 2 pips with a minimum of 0.1 pips on major currency pairs.
Commission charge (one-way) per 1 standard lot traded = $5
Leverage = 1:200
Digits quoted after the comma = 5
Margin call level = 50%
Stop-out level = 10%
Number of currency pairs available = 22

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This means advertised prices may not be accurate and could differ from the actual market conditions. For this reason it is not appropriate to rely on any data presented by fxBrokerSearch.com for the purposes of trading.

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