Overview of TrueFX
TrueFX is a forex broker specializing in providing forex trading services to institutional traders. They offer two types of trading accounts, namely Professional and Institutional, catering to different segments of the trading community. Through their subscription-based SaaS platform, institutional clients have access to a full range of currency trading instruments, including forex, cryptocurrencies, and metals. Additionally, TrueFX provides pricing depth and real-time market data streams to assist institutional traders in making informed trading decisions.
Customers can contact the customer support team of TrueFX through the contact information provided on their official website and fill out an inquiry form to obtain the necessary information. However, it should be noted that TrueFX does not offer educational resources, and traders will need to seek alternative channels for relevant knowledge and education.
Is TrueFX legit or a scam？
TrueFX operates as a broker in the financial markets; however, it is important to note that it is currently not regulated by any recognized regulatory authority. Thus, it is crucial for traders to exercise caution and conduct thorough due diligence before engaging in trading activities with the broker. It is advisable to consider the potential risks associated with trading with an unregulated broker, as the absence of regulation means there may be a lack of safeguards and accountability.
Pros and Cons
In summary, TrueFX stands out for diverse investment tools, providing traders with access to various options for their trading activities. The platform also offers pricing depth, allowing traders to make informed decisions based on comprehensive market data. However, it is essential to consider that TrueFX currently lacks regulation, which may raise concerns for some traders. Additionally, the absence of educational resources limits the learning opportunities available to users. Furthermore, it is worth noting that customer support services are limited, which may impact the overall user experience.
Market Instruments
TrueFX is broker that focus on currency and metals, the market instruments they offer including foreign exchange (FX), cryptocurrencies and metals. They provide a platform that enables users to explore and capitalize on various financial markets.
One of the key offerings of TrueFX is its robust foreign exchange market. Traders can access a wide array of major and minor currency pairs, allowing them to engage in currency trading across global markets.
In addition to the forex market, TrueFX recognizes the growing popularity and potential of cryptocurrencies. They provide a secure and user-friendly environment for trading digital assets such as Bitcoin, Ethereum, and other prominent cryptocurrencies. By offering a range of crypto trading pairs, traders can diversify their portfolios and take advantage of the volatility and potential profits offered by the cryptocurrency market.
The metal market is a significant and highly influential sector. Gold and silver, in particular, play crucial roles as safe-haven assets, with their prices often influenced by global economic and geopolitical factors. By utilizing TrueFX's metal trading tools, investors can participate in market fluctuations and manage risks by buying and selling these essential metals.
Account Types
TrueFX provides traders with two distinct types of trading accounts: Professional and Institutional. The platform is specifically designed for institutional clients, offering customized accounts and related features.
The Professional account offered by TrueFX is available at a monthly cost of $4,950. This account type provides traders with a full set of currencies, allowing them to access a wide range of currency pairs for trading. Additionally, traders have the option to include cryptocurrencies as an optional extra, expanding their trading opportunities in the digital asset market.
With the Professional account, traders can view and access bid and offer prices, enabling them to make informed trading decisions based on the current market conditions. They also benefit from an event-driven stream via FIX (Financial Information eXchange), which delivers real-time market data and updates to keep traders well-informed about market movements and events.
Furthermore, the Professional account includes internet connectivity, traders can execute trades and manage their positions with ease, leveraging the power of the internet to stay connected to the market at all times.
The Institutional account offered by TrueFX is available at a monthly cost of $7,450. This account type is specifically designed to meet the trading requirements of professional entities and institutions. It provides a comprehensive set of features and services tailored to their unique needs. With the Institutional account, traders have access to a full set of currencies, allowing them to trade a wide range of currency pairs in the forex market. Additionally, they have the option to include cryptocurrencies as an optional extra, enabling them to explore opportunities in the digital asset market.
One of the key features of the Institutional account is the 3 level depth of book pricing. This provides traders with a deeper view of the market, allowing them to analyze the order book and make more informed trading decisions based on the available liquidity and price levels. Traders using the Institutional account can view bid and offer prices, enabling them to execute trades at competitive rates. They also receive real-time market data and updates through an event-driven stream via FIX (Financial Information eXchange), ensuring they stay up-to-date with market movements and events.
To ensure fast and reliable connectivity, the Institutional account offers low latency X-Connect to major financial hubs such as New York (NY), London (LDN), and Tokyo (TK). This allows traders to execute trades with minimal delays and take advantage of market opportunities in real-time.
How to open an account？
Due to TrueFX exclusively catering to institutional clients, the company's official website does not provide a registration process. However, users interested in TrueFX's services can enquire about relevant information through the website. To do so, follow these steps:
Open the TrueFX official website.
Scroll down to the bottom of the page.
Click on the “enquire” button under the account type that interests you.
4. Fill in your name, email address, company name, the type of product you are interested in, and the message you would like to inquire about.
5. Once you have completed filling in the information, check the box to indicate your agreement with the privacy policy.
6. Finally, submit the form to proceed with your enquiry.
Trading Platform
TrueFX introduces the powerful combination of Integral's infrastructure and a strong central clearing partnership with Jefferies. By becoming a clearing member of TrueFX, clients benefit from a unified platform that offers reduced credit costs and improved liquidity for brokers and buyers alike. This seamless integration enhances trading efficiency and promotes a more streamlined trading experience.
Customer Support
TrueFX offers customer support to assist traders with their inquiries and concerns. Traders can reach out to the broker through the “Contact TrueFX” button available on the official website. By filling out the consultation form with their name, email address, country, region, and the specific topic they require assistance with, traders can submit their inquiry directly to the support team.
Educational Resources
TrueFX's focus is on serving professional institutions rather than individual traders. As a result, they do not offer their own dedicated educational resources.
Conclusion
In conclusion, TrueFX offers three marketing instruments and provides pricing depth and real-time market data streams, which are advantageous for traders. However, it is important to consider the disadvantages of TrueFX, such as the lack of regulation, absence of educational resources, and limited customer support services. These factors should be carefully weighed by potential users in their decision-making process.
FAQs
Q: What types of trading accounts does TrueFX offer？
A: TrueFX provides two distinct trading account options for institutional traders: Professional and Institutional accounts.
Q: Is TrueFX regulated？
A: TrueFX is currently operating without valid regulation.
Q: How can I contact customer support at TrueFX？
A: To reach customer support, you can submit an inquiry form through the “Contact TrueFX” button on the official website. Fill in your name, email, country, region, and details of your query, and submit the form.
Q: Does TrueFX provide educational resources for traders？
A: No, TrueFX does not offer educational resources.
Q: What trading instruments are available on TrueFX？
A: TrueFX offers a wide range of trading instruments, including forex, cryptocurrencies, and metals.
Q: Can I access real-time market data on TrueFX？
A: Yes, TrueFX provides real-time market data streams, allowing traders to stay informed about the latest market movements and trends.
Q: Is TrueFX suitable for individual traders？
A: No, TrueFX exclusively caters to institutional traders and does not provide services for individual traders.
Q: Can I access pricing depth for trading instruments on TrueFX？
A: Yes, TrueFX offers pricing depth, providing traders with comprehensive pricing information for making informed trading decisions.
2023-03-22 18:42
