Residence, Regulation, and Company Management Structure
The company is the registered in the US, controlled by CFTC, and is member of the NFA. The address of office is indicated. However, the leaders of the company are not mentioned.
Company's Market Position
Judging by the absence of dealing and stream quotations, the company is an ECN. The West Bank is a partner – a liquidity supplier. A wide set of client accounts is offered: individual, incorporated, guided, partner, and corporate.
Types of Services Offered
Finding the exact list of trading courses on the site was not successful. 10 currency pairs are indicated, within the parameters of the trading platform (7 majors and some cross-courses). Other financial instruments, apparently, are not available.
Information about terms of trades is placed mainly in the FAQ, and also in different places on the site. Some important information is not mentioned on the site – for example, limitations on volume of trade, sizes of spreads, presence or absence of additional payments or fees, etc.
Such important information, as maximum volume for a single transaction (100 lots on a standard account, 50 – on mini) was succeeded to find only passing on the branch of the opening of the real account.
The company trades in both complete lots for 100000 units of leading currency and mini-lots for 10000 units. Accordingly, the sizes of the minimum deposits are $2500 and $250 respectively.
On standard lot an initial margin operates in 1% from the cost of lot, on mini-lot initial margin – 0.5% (leverage 100:1 and 200:1 accordingly).
The level of supporting margin is set in 50% from initial for all of types of accounts, regardless of volume of the opened positions.
The transfer of the opened positions the next day is made on the standard rules of SWAP, rates and sums of payments are stated in a table.
The relations of client and the company are specified in the “contract of adhesion;” a client fills out an electronic form, acceding to the terms and requirements of the company. Further actions are not described on the site.
Trading accounts are conducted only in USD. Depositing the account and withdrawing from it are executed in several ways: by a bank order, cashier checks of American Express, credit cards, bank checks.
Traders Support
Information for beginners is presented in a very detailed, separate, part of site called “University,” demo-accounts which are free for 30 days. In addition, to the FX Educator,” which is offered to the client, there is an educational course (on 2 DVD's); which come together with the opening of the mini-account with $300.
On the site there are free news and state-of-the-art reviews, and a very detailed calendar. Even interactive television “FOREX TV” is offered. The strong side of the company is the use of the very rich possibilities of the powerful trading platform of MetaTrader4, and also special program “Percent and lot Allocation Money Manager” and archive of historical information (Shatterfield COT Data).
An interesting possibility is “The Mini Challenge,” which is a variety of trader competitions, with prizes in $2000, $750 and $250.
For interactive support of clients there is chat, a forum, e-mail, and telephone. Apart from English, there is a variant of the site in the Chinese language.
The Site
The basic trading platform – MetaTrader4 is one of the best and most powerful free programmes on the modern market.
A site is done pleasantly enough and correctly. Navigation is easy and clear. Unfortunately, there are a few “broken” links and errors in the text.
Advantages
- Registered in the US, with accountability to the CFTC.
- Complete set of client accounts. Scalene support of users and uses the trading MetaTrader4platform.
Disadvantages
- Major information for traders about terms of trades is sparse on the site and some important information is not indicated generally or just skated over on some pages.
- There are broken links, including on the download of trading platform. There are errors in a text.
