AUSFOREX Account Types offers its clients two regular account types an STP account and an ECN account. AUSFOREX’s maximum leverage is 1:500.
AUSFOREX at a Glance
| Broker's Name | Ausforex |
| 📍 Headquartered | London, United Kingdom |
| 📅 Year Founded | 2003 |
| ⚖️ Regulating Authorities | Financial Conduct Authority (FCA), Hong Kong Securities and Futures Commission (SFC), Cyprus Securities |
| 🌐 Countries not accepted for trade | Japan, Iran, Cuba, Sudan, Syria, Belgium, and North Korea |
| ☪️ Islamic account (swap-free) | Yes |
| 👍 Demo Account | Yes |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | Yes |
| 📈 Maximum Leverage | 1:500 |
| 💰 Minimum Deposit | $1 000/R14 700 USD |
| 💳 Deposit Options | Wire transfer, credit, or debit cards |
| 💳 Withdrawal Options | Wire transfer, credit, or debit cards |
| 💻 Platform Types | MetaTrader 4 and MetaTrader 5 |
| 📱 OS Compatibility | Mobile, Web |
| 📈 Tradable assets offered | Forex, Index, Crude Oil, Gold and Silver, and CFDs. Forex trading include |
| 👨💼 Languages supported on Website | English and Chinese |
| 👥 Customer Support Languages | English and Chinese |
| 📆 Customer Service Hours | 24 hours per day, seven days per week |
| 👉 Open a account | 👉 Click Here |
Min Deposit
USD 1,000
Regulators
FCA, SFC, CySEC, ASIC
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Choose your quick section of our Ausforex Account Types below.
AUSFOREX Account Types – 9 key points quick overview:
- AUSFOREX Overview
- AUSFOREX Account Types
- AUSFOREX Account Features
- AUSFOREX at a Glance
- AUSFOREX Demo Account
- AUSFOREX Islamic Account
- AUSFOREX Pros and Cons
- Conclusion
- Frequently Asked Questions
Here is an overview of the AUSFOREX account types as well as the treading features and benefits offered for each account.
AUSFOREX Overview
Aus forex was founded in Melbourne, Australia in 2003 as an Australian forex broker company. As a leading online trading broker, Ausforex offers online brokerage services to private investors, institutions, and banks.
They specialize in Foreign Exchange (Forex) and Contracts for Difference (CFDs), and clients get 24-hour access to all global financial markets with the use of the MetaTrader 4 and MetaTrader 5 trading platforms.
The broker is approved and regulated by the Australian Securities and Investments Commission (ASIC) since 2005.
The company relocated its headquarters to the United Kingdom in 2015 to better serve the global market and obtained regulation by the United Kingdom Financial Conduct Authority (FCA) too. The broker also enjoys supervision by the Hong Kong Securities and Futures Commission (SFC) and the Cyprus Securities and Exchange Commission (CySEC).
Ausforex maintains offices in London, Cyprus, Beijing, Shanghai, Malaysia, and Vancouver but does not offer services to clients located in Japan, Iran, Cuba, Sudan, Syria, Belgium, and North Korea. Ausforex’s experienced staff comes from varied international financial backgrounds, with lots of shared expertise and knowledge to make available to clients.
AUSFOREX Account Types
Ausforex offers its clients two regular account types, an STP account (Straight Through Processing execution) and an ECN (electronic communication network) account, both accessible through the popular MetaTrader 4 platform.
With an STP account, the broker’s trading commission is included in the spread and an ECN account is a computerized system with which buy and sell orders for securities in the market are automatically matched.
It connects major brokerages and individual traders to trade between themselves directly without a middleman, making it possible for investors in diverse geographic places to trade with each other easily. The ECN earns money by charging a fee for each transaction and removes the role of a third party in executing orders and permits such orders to be partly or wholly executed.
The use of an ECN allows investors to trade outside traditional trading hours and provides a mechanism for those that cannot be active during normal market times and who prefer the flexibility of more availability.
The minimum deposit required to open an account is $1 000. Muslim traders are offered the option to open an Islamic Account or swap a free account. The Ausforex ECN account offers lower spreads, but involves a commission of $10 per standard lot, while the STP account provides commission-free trading and comparatively high spreads.
Both accounts require a minimum Deposit of 1 000 USD, so in fact the choice between accounts is basically a choice between an account with above-average spreads but no commission fees charged, or an account with remarkable spreads but with higher than average amount of commission charged.
AUSFOREX Account Features
| 🥇 The ECN Account |
| Minimum Deposit required: $1 000/R14 700 USD |
| Maximum Leverage available: 1:400 |
| Spreads: 0.5 pips |
| Commission: $10 per standard lot round-turn |
| Micro lots are available on both account and MAM and PAMM account options are also available. |
| 🥈 The STP Account |
| Minimum Deposit required:$1 000/R14 700 USD |
| Maximum Leverage allowed: 1:400 |
| Average Spreads: 2.0 pips |
| Commission: None |
Islamic Account
Muslim traders who follow the Sharia law have the option to open an Islamic Account with Ausforex, but it is not clear whether it is merely an option to convert a live trading account to an Islamic Account, or whether they should follow a separate application procedure for a standalone swap free account.
Min Deposit
USD 1,000
Regulators
FCA, SFC, CySEC, ASIC
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
AUSFOREX Demo Account
AUSFOREX offers traders the opportunity to open a Demo Account which can be used for 30 days to do the following: As a practice account for beginner traders who wish to hone their trading skills and gain experience in a risk-free environment with virtual funds
For use by traders who wish to test their trading strategies in a mimicked live trading environment without risking t
heir capital.
For traders who are evaluating and comparing brokers and would like to explore Ausforex’s trading conditions in a risk-free environment.
AUSFOREX Islamic Account
The purpose of the broker’s Islamic or swap-free account is to cater specifically to Muslim traders who strictly follow the Sharia law. The law prevents followers from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitative.
Overnight fees are charged to traders who hold positions open for longer after the trading day has concluded and the swap-free account allows release from such fees, or interest, in case they hold positions open for longer.
AUSFOREX offers this Islamic Account only to Muslim traders who follow the Sharia law. Traders must, however, take note that there are certain features indicated on the Islamic account which differ greatly from the individual account such as minimum deposit, spreads, and more. Traders who are interested in registering for an Islamic account must contact Ausforex’s customer support for details of the account conditions, as it may change from time to time.
Min Deposit
USD 1,000
Regulators
FCA, SFC, CySEC, ASIC
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
AUSFOREX Pros and Cons
| ✔️ Pros | ❌ Cons |
| High leverage levels may be used | High minimum deposit required to open account |
| MT4 and MT5 trading platforms offered | Only two account type options to choose from |
| Regulated by more than one authority | Swap fees are applicable |
Conclusion
AUSFOREX Account Types vary according to what traders require. The broker also enjoys supervision by the Hong Kong Securities and Futures Commission (SFC) and the Cyprus Securities and Exchange Commission (CySEC).
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Frequently Asked Questions
Trading environment
How many instruments can I trade with Ausforex?
A trader can trade several different instruments with Ausforex, which include the following:
- Forex, including popular currency pairs and some exotic options
- CFDs
- Indexes
- Crude Oil
- Gold and Silver
Which platforms are supported by Ausforex?
AUSFOREX provides the following popular trading platforms:
- MetaTrader 4 (MT4)
- MetaTrader 5 (MT5)
Does Ausforex offer leverage?
Yes, Ausforex offers a maximum leverage ratio of up to 1: 500.
What spreads can I expect with Ausforex?
AUSFOREX offers variable spreads. On the STP account spreads start around 2.0 pips on EUR/USD, which is quite high, while on the ECN account, it is significantly lower, starting at about 0.5 pips on EUR/USD.
Does Ausforex charge a commission?
Yes, Ausforex charges commission. More information on the rate of commissions can be obtained from the customer support service.
Are there additional charges on the Islamic account?
Yes, a broker like Ausforex charges extra fees on Islamic accounts – either in wider spreads, additional commissions, or administration fees to make up for money that they lose by not charging overnight fees.
New Islamic traders must enquire about these special settings or fees before joining up because it is often not clearly indicated on the broker’s account features pages.
Is Ausforex regulated and by whom?
Ausforex is regulated by Financial Conduct Authority (FCA), Hong Kong Securities and Futures Commission (SFC), Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC).
Is Ausforex a recommended forex trading broker for experts and beginners?
AUSFOREX offers a fair-trading environment for all types of traders, but due to the high minimum deposit, it may be more suited for expert traders.
What is the overall rating out of 10 for Ausforex?
7/10.
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