NewsWikiFX Review: Is it okay to invest in Ox Securities
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information.
+61 2 7202 6730
Ox Securities Pty Ltd
Pyramid scheme complaint
It has always been good. But when I make a profit, they don't allow me to withdraw with many excuses.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
|Ox Securities Review Summary in 10 Points|
|Market Instruments||Forex, Commodities, Indices, Cryptocurrency CFDs|
|EUR/USD Spread||Start from 0.0 pips|
|Trading Platforms||MT4, MT5|
|Customer Support||Email, Phone, Live chat|
Ox Securities is a global broker that was established in 2013. It provides traders with access to a wide range of financial instruments through Contracts for Difference (CFDs). These instruments include Forex (foreign exchange), Indices, Commodities, Stocks, and Cryptocurrencies.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
|•Wide range of trading instruments across multiple asset classes||• Exceed the business scope regulated by ASIC|
|• Various account types to suit different trading needs||• Limited customer support options|
|• MT4 & MT5 trading platform||• Limited trading tools|
|•Multiple account funding and withdrawal options|
|• No deposit and withdrawal fees|
|• Rich educational resources for traders of all levels|
There are many alternative brokers to Ox Securities depending on the specific needs and preferences of the trader. Some popular options include:
eToro - offers a user-friendly interface and a wide range of trading instruments, a good choice for beginners and those interested in social trading.
Interactive Brokers - With its advanced trading tools, competitive pricing, and extensive range of global markets, Interactive Brokers is recommended for experienced traders who require a robust and customizable trading platform.
TD Ameritrade - Known for its comprehensive research offerings, educational resources, and a user-friendly trading platform, TD Ameritrade is a solid choice for investors seeking a combination of investment guidance and self-directed trading options.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Ox Securities has years of experience in the industry and is regulated by ASIC, which can suggest a level of stability and knowledge. On a positive note, Ox Securities has been receiving good reviews from clients, it may indicate that they have been providing satisfactory services to their customers.
However, it is important to note that Ox Securities exceeds the business scope regulated by ASIC. While this may indicate that they offer a wide range of financial instruments to their clients, it also raises potential concerns regarding regulatory oversight.
It's crucial for individuals to carefully evaluate the available information, consider their own risk tolerance, and conduct thorough research before engaging with any brokerage firm.
All in all, as with any investment, there is always some level of risk involved, and it is important for traders to do their own research and carefully consider their options before investing.
Users of Ox Securitieshave access to market instruments including Forex, cryptocurrencies, indices and commodities.
Forex trading involves the buying and selling of different currencies in pairs, with the aim of profiting from the fluctuations in their exchange rates. Traders can engage in trading major currency pairs such as EUR/USD, GBP/USD, USD/JPY, as well as minor and exotic currency pairs.
Moreover, Ox Securities allows clients to trade cryptocurrencies, which is a digital or virtual currencies that use cryptography for secure transactions and control the creation of new units
Furthermore, indices are also available in Ox Securities platforms. It represents a statistical measure of the performance of a specific group of assets, such as stocks, bonds, or commodities. It serves as a benchmark or reference point for tracking the overall performance of a particular market or sector.
Finally, clients can choose to participate in commodities contracts. Commodities refers to trades in metals and energy. Prices usually follow basic economic concepts, with a reduction in supplies leading to higher prices and a glut, to lower prices. OX Securities provides a flexible and easy way to participate in some of the worlds most popular commodities products, including energy and precious metals, which can be traded via MT4/MT5 platforms.
Demo Account: Ox Securities provides a non-expiring demo account that allows you to try out the financial markets without the risk of losing money.
Live Account: Ox Securities offers a total of 3 account types: Standard Account, Pro Account and Swap Free Account.
With Ox Securities, traders have the advantage of starting with a minimum deposit of $0. This means that traders can open an account and begin trading without the requirement of an initial deposit. This flexibility in starting deposit allows individuals to explore the platform and gain trading experience without committing a specific amount of funds upfront. However, we should also realize that too little capital not only reduces losses, but also reduces profitability. Therefore, you may find it “unexciting” or unprofitable. In addition, accounts with smaller initial deposits tend to have poorer trading conditions.
Ox Securities provides a high leverage ratio of 1:500 for all types of trading accounts. This means that traders can control positions in the market that are up to 500 times larger than their initial capital. Such a high leverage ratio offers the potential for substantial gains on even small price movements. However, it's important to note that trading with high leverage also comes with increased risk. While leverage can amplify profits, it can also magnify losses, potentially leading to significant financial consequences.
It is advisable to thoroughly understand the implications of high leverage and carefully consider one's risk tolerance and trading objectives before engaging in leveraged trading.
Ox Securities offers different types of trading accounts, each with its own specific features and cost structure.
The standard account and swap free accounthave spreads starting from 1.0 pip. This means that the difference between the bid and ask price of currency pairs or other tradable instruments begins at 1.0 pip. These accounts do not charge any commission per trade, which can be beneficial for traders who prefer to avoid additional transaction costs.
The pro accountis designed for more experienced traders and offers a tighter spread starting from 0.0 pip. This means that traders can potentially access more competitive pricing on their trades. However, the pro account does have a commission structure of $3.5 per 100,000 units traded. This commission is applied on top of the spread and is based on the trading volume.
Traders should consider their trading style, frequency, and preferences when choosing between the standard, swap free, or pro account. The choice between tighter spreads and commission-based trading or slightly wider spreads without commissions depends on individual trading strategies and priorities.
Below is a comparison table about spreads and commissions charged by different brokers:
|Broker||EUR/USD Spread (pips)||Commissions (per lot)|
|Ox Securities||From 0.0||Variable (depending on account)|
|eToro||1.0||No commission (Spread-only)|
|Interactive Brokers||0.2||Variable (depending on account)|
|TD Ameritrade||1.3||Variable (depending on account)|
Please keep in mind that spread values can vary depending on market conditions, account type, and other factors. Commission structures may also differ based on the broker's pricing model and the type of account being used. It's important to review the official websites or contact the brokers directly for the most accurate and up-to-date information on spreads and commissions.
Ox Securities provides traders with the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platform. MetaTrader 4 (MT4) is available on Windows, Mac, iOS, Android and Linux devices while MetaTrader 5 (MT5) is available on Windows, Mac, iOS and Linux devices. MT4 is a popular and widely recognized trading platform known for its user-friendly interface and robust features. It provides traders with access to a range of financial instruments, including Forex, indices, commodities, and more. MT4 offers advanced charting capabilities, technical analysis tools, customizable indicators, and the ability to automate trading strategies using Expert Advisors (EAs). Traders can also execute trades, manage orders, and monitor market conditions in real-time using MT4.
MetaTrader 5 is a multi-asset platform designed specifically for trading Forex and CFDs, offering advanced technology and an enhanced trading experience. Ox Securities provides a Windows version of the MT5 platform, which allows traders to access a range of markets, including Forex, Shares, Metals, Commodities, Indices, and Cryptocurrencies.
MT5 as an upgrade to its successful MT4 platform, providing a wider range of market analysis tools and access to additional exchange markets. With all the necessary tools for fundamental and technical analysis, including custom indicator development, the platform is a complete suite.
Ox Securities also offers mobile versions for iOS and Android, allowing traders to access their accounts on-the-go.
Overall, Ox Securities trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:
|Ox Securities||MT4, MT5|
|Interactive Brokers||Trader Workstation, WebTrader, Mobile Apps|
|TD Ameritrade||thinkorswim, Web Platform, Mobile Apps|
Ox Securities provides a range of trading tools to help its clients in their trading activities.
The VPS service allows you to run Expert Advisors or automatic algorithm strategies on a remote server 24 hours a day. It is independent of your local computer and network, so it doesn't matter if you're not there.
The economic calendar allows traders to keep track of important upcoming events that can affect the markets.
Ox Securities offers a range of convenient deposit methods to cater to the diverse needs of traders. Clients can deposit funds using popular options such as Visa and Mastercard, providing a hassle-free and widely accepted payment solution. Additionally, the broker supports FasaPay, bank transfers, UnionPay, local funding options, Interac, Skrill, Neteller, and Crypto, allowing for flexible choices. One notable advantage is that Ox Securities boasts zero fees for deposits, ensuring that traders can allocate their funds more efficiently. Whether you prefer traditional banking methods or digital payment systems, Ox Securities strives to offer a seamless and cost-effective deposit experience.
Moreover, Ox Securities has no minimum deposit requirement, allowing traders the flexibility to start trading with the amount they are comfortable with. This lack of a minimum deposit threshold ensures accessibility for traders of all levels, making it easier to get started in the financial markets.
While to withdraw funds from your Ox Securities trading account, log in to the secured client portal using your email address and password. Once logged in, navigate to the Deposit & Withdrawal section and select “Withdraw Funds” from the drop-down menu. However, specific information regarding withdrawal fees is not provided. For accurate details about withdrawal fees, it is recommended to refer to the broker's website or contact their customer support. They will provide the necessary information regarding any applicable withdrawal fees or charges.
Ox Securities provides multiple customer service options to assist its clients. Customers can reach out to Ox Securities through various channels to address their queries and concerns as below:
Australia: +61 2 7202 6730.
Global: +1 (213) 459 3544.
Customer support email: email@example.com.
Beside of this, Ox Securities also provides real-time live chat support.
These various communication channels enable clients to reach out to Ox Securities conveniently and seek assistance or clarification regarding their trading accounts, platform functionality, or any other related inquiries.
Overall, Ox Securities customer service is considered reliable and responsive, with various options available for traders to seek assistance.
|• Direct Contact||• No 24/7 customer support|
|• Accessibility||• Quality and Expertise|
|• Personalized Support|
|• Multi-channel support|
Note: These pros and cons are subjective and may vary depending on the individual's experience with Ox Securities customer service.
Market Commentary: Ox Securities offers market commentary, which includes regular updates and analysis of the financial markets. This commentary provides insights into the latest market trends, economic indicators, and significant news events that may impact various instruments such as forex, indices, commodities, stocks, and cryptocurrencies. Traders can benefit from staying informed about market developments to make informed trading decisions.
MT4/MT5 Video Tutorials: Ox Securities offers video tutorials specifically designed for the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. These tutorials provide step-by-step guidance on using the platforms effectively, covering various features and functionalities.
Trading Education: Ox Securities provides a range of trading education materials to enhance traders' knowledge and skills.
By offering these educational resources, Ox Securities aims to empower traders with the information and skills needed to navigate the financial markets more effectively and make well-informed trading decisions.
According to available information, Ox Securities is an Australia-based brokerage firm. While the firm has significant experience in the industry and offers a range of market instruments such as Forex, cryptocurrencies, indices and commodities, it is important to consider certain factors that the dealer exceeds the business scope regulated by ASIC. It is critical that potential clients exercise caution, conduct thorough research and seek up-to-date information directly from Ox Securities before making any investment decisions.
|Q 1:||Is Ox Securities regulated？|
|A 1:||Yes. It is regulated by Australian Securities and Investment Commission (ASIC) but exceeds the regulated business scop|
|Q 2:||Does Ox Securities offer demo accounts？|
|Q 3:||Does Ox Securities offer the industry leading MT4 & MT5？|
|A 3:||Yes. It offers MT4 on Windows, Mac, iOS, Android and Linux devices, MT5 on Windows, Mac, iOS and Linux devices.|
|Q 4:||What is the minimum deposit for Ox Securities？|
|A 4:||The minimum initial deposit to open an account is $0.|
|Q 5:||Is Ox Securities a good broker for beginners？|
|A 5:||Dealer offers various trading instruments with competitive trading conditions on the leading MT4 and MT5 platforms. Also, it offers demo accounts that allow traders to practice trading without risking any real money. But traders should still pay attention to the abnormal regulation status of the broker and make risk management before trading.|
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information.
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