ChamberFX-Overview of Minimum Deposit, Spreads & Leverage

General Information & Regulation

ChamberFX is an Australian forex brokerage, operated by CHAMBER (HOLDINGS) PTY LTD. Our check in ASIC‘s online register revealed that CHAMBER (HOLDINGS) PTY LTD is present in the ASIC register. However, the latter doesn’t feature any approved domains of the licensed entities, and we suspect that ChamberFX has nothing to do with this company, and only illegally uses its name and registration number. This is a popular scam tactic also known as “a clone firm”.

Market Instruments

Trading assets offered by ChamberFX include forex currency pairs, commodities, indices, stocks.

Minimum Deposit

ChamberFXs website is absolutely barren when it comes down to payment information. In any case, most brokers demand no more than $250 as a start

Leverage

ChamberFX provides leverage of 1:500. Such levels are more than enough for all types of traders, but they arent suitable for all – because of the greater risk of loss.

Spreads & Commissions

ChamberFX does not clarify about its spreads, but ChamberFXs platform gave us a EUR/USD spread of 2.4 pips – a value that is to times higher than the average in the sector.

Trading Platform Available

ChamberFX says to support the legendary MetaTrader4, but after signing up with them, we got hold of some web-based trading terminal that doesnt even feature the name or the logo of the broker.

Deposit & Withdrawal

The client area at ChamberFX discloses that clients can deposit via iPay only. And you should know that cards are generally safer, especially if you use Visa and Mastercard – because they allow chargebacks within 540 days from the date of deposit. Almost all legit brokers work with credit/debit cards and bank wire.