Compass FX Account Types

Regarding Account Types, Compass FX provides only one account selection, a Standard Account as well as a risk-free Demo account. The minimum deposit amount required for Compass FX account is $500 USD / R8000 ZAR

Overall Rating

• 3.9/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 500

Regulators

NFA, ASIC

Trading Platform

MT4, NinjaTrader, Tradingview

Crypto

Yes

Total Pairs

0

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

CompassFX Account Types – 8 key points quick overview:

1. Compass FX Overview
2. Compass FX Account Types
3. Compass FX Islamic Account
4. Compass FX Demo Account
5. CompassFX at a Glance
6. Compass FX Pros and Cons
7. Compass FX Conclusion
8. Frequently Asked Questions

Compass FX Overview

Compass FX is a forex broker company in the United States of America that acts as an introducing broker for other forex broker companies. Compass FX has its headquarters in Richardson, Texas.

The company was already founded in 1990 and since then Compass FX has boasted about unprejudiced research and unparalleled customer service.

Although it acts mainly as an introducing broker for other top forex brokers, Compass FX is regulated by the National Futures Association (NFA).

The management team of Compass FX believes that a better-informed individual has a greater probability of success as a trader in the markets and has declared as its primary mission the aim to create a generation of smart and successful investors.

To be able to fulfill this mission, it was natural to choose the well-known and popular MetaTrader 4 trading platform. Compass FX also places significant importance on having the best and most suitable resources and tools to enable trading.

Compass FX has established several solid partnerships with other brokers as their partners, all of which aim to stick to the highest standards in the strictly regulated financial industry.

Compass FX offers to trade with Forex.com, FXCM, Direct FX, FXDD Global, and Tier1FX.

FXCM is a broker in the United Kingdom that offers forex and CFDs. Direct FX Trading Pty Ltd is a Forex company in Australia, regulated and licensed by the Australian Securities and Investment Commission (ASIC) and a member of the Financial Ombudsman Service (FOS). Direct FX offers to trade in Forex, CFDs, and gold and silver.

FXDD is part of US-based Nukkleus Inc, offering third-party trading platforms, and offering its products and services primarily via its EU-passported Malta entity, regulated by the MFSA.

TIER1FX is a pioneer in bringing true Direct Market Access (DMA) to the retail FX industry.

Compass FX has been in the trading industry for many years and has strong relationships with reputable clearing firms. The company now concentrates more on education than brokerage. New accounts and applications will go directly to the clearing firm and any additional information needed will come from their office and staff.

Compass FX Account Types

Compass FX offers a Standard Account for beginner and professional traders with a minimum deposit of $500 USD / R8000 ZAR. Compass FX supplies various firms that you can select from with Forex.com, FXCM, Direct FX, FXDD Global, and Tier1FX.

Compass FX Islamic Account

Compass FX does not offer traders who follow the Sharia law the option of an Islamic Account.

Often an Islamic account is provided as an option where traders can convert their live trading account to an Islamic Account, or in other cases, it is a standalone account with a separate application procedure.

Compass FX Demo Account

Compass FX offers traders the option to open a demo or practice account which can be utilized in several ways, including the following:

• A practice account for beginner traders who wish to hone their trading skills and gain experience in a risk-free environment using virtual funds.
• Traders who want to evaluate and compare brokers would like to explore Compass FX’s trading conditions in a risk-free environment.
• Traders who want to test their trading strategies in an imitated live trading environment without risking their own capital.

CompassFX at a Glance

Overall Rating

• 3.9/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 500

Regulators

NFA, ASIC

Trading Platform

MT4, NinjaTrader, Tradingview

Crypto

Yes

Total Pairs

0

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

Compass FX Pros and Cons

Compass FX Conclusion

Overall, Compass FX provides only one account selection, a Standard Account as well as a risk-free Demo account. The minimum deposit amount required is $500 USD / R8000 ZAR

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Frequently Asked Questions

Can traders from South Africa open a Compass FX trading account?

Yes, traders from South Africa can open a Compass FX trading account.

How does Compass FX compare to similar brokers?

Compass FX is different from other brokers as they offer the opportunity to invest with various firms at once as they have a standard account that provides access to all the other firms.

Does Compass FX offer leverage?

The leverage that is offered depends on the firm that is selected by traders from various options that is available.

Does Compass FX  have copy trading?

Compass FX does not have copy trading available

Is Compass FX a good broker to choose if I am new to trading?

Compass FX is a good broker to use as a new trader as they provide various educational programs and demo accounts for training in trading.