This profile is currently being reviewed by the BestForex.io editorial team. Some information may be incomplete or subject to change.
Direct FX Review
Direct FX is a New Zealand currency exchange and international payments company, not a leveraged trading broker, and its FMA derivatives issuer license is currently listed as suspended.
Min Deposit
N/A
Spreads From
not published, pricing is built into a quoted rate per transfer
Max Leverage
not applicable, Direct FX is a currency exchange service, not a leveraged broker
Platforms
Direct FX website, Direct FX mobile app for rate quotes
Pros
- Over 20 years of real operating history in New Zealand foreign exchange
- Builds its fee into the rate instead of charging a separate transfer fee
- Website and market commentary look current and regularly updated
- Registered with the FMA as a Financial Service Provider, number FSP16781
Cons
- Its FMA Derivatives Issuers licence currently shows a status of suspended
- Not a CFD or margin trading broker, so active traders should look elsewhere
- No MetaTrader, mobile trading app for CFDs, or leverage details are published
- Pricing depends on a quote from an advisor rather than a public live spread
Direct Fx Limited has worked in foreign exchange for more than 20 years from Auckland, New Zealand. It helps individuals and businesses send and receive money abroad, and says it builds its fee into the exchange rate instead of charging separate transfer costs.
This is not a leveraged CFD or forex trading broker in the usual sense. Direct FX does not offer MetaTrader, margin accounts, or spread based trading. It is closer to a specialist currency exchange service, competing with banks and transfer apps on the rate it offers for a straight currency conversion.
The Financial Markets Authority lists Direct Fx Limited as FSP16781 under its Derivatives Issuers licence category, granted in December 2014, but the FMA register currently shows this licence status as suspended. The company website itself still looks active, with regularly updated currency news, so readers should check the FMA register directly before sending any large transfer.
Max Leverage
not applicable, Direct FX is a currency exchange service, not a leveraged broker
Spreads From
not published, pricing is built into a quoted rate per transfer
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
