The Australian broker DirectFX ends its activity

DirectFX Trading Pty Ltd, an Australian Forex / CFD broker, announces the end of operations and the company is being liquidated. This is a consequence of many irregularities that have been detected by the Australian ASIC regulator.

The allegations concerned primarily the inadequate level of security in the form of supplementary capital. As a result, already in April this year. the DirectFX license has been suspended for the period from 10 weeks to 6 months (we wrote about it in THIS article). As it turns out now, it will never be "hung up" again.

About DirectFX

The Australian broker has been present on the market since the 2006 year, all the time under the supervision of ASIC. 1 leverage: 400, competitive spreads and offer focused on the MetaTrader 4 platform have been sufficient for many years, but the market is evolving. The highlight of the coffin was the detection of irregularities by the regulator, where in such cases the downtime in the business opportunities for even a few weeks is usually the next nail in the coffin.

At the top of the broker's page you will find information:

Direct FX Trading Pty Ltd does not accept new clients. Existing customers may only trade to the extent required to close their positions. All activities related to consultancy, commercial and market activities are currently suspended until the start of operations again, subject to the approval of the Australian Securities and Investment Commission (ASIC). In this case, the company will start operating again after about 10 weeks from the decision of the regulator. If you are our customer and need help closing your account or closing your position, please contact us at support@directfx.com, our team is here to help you. We apologize for this inconvenience.

While these apparently appear to be temporary problems, it is already known that DirectFX is over. The company will be completely liquidated and any remaining funds will go to the company's clients and other creditors.