Baxter FX Review
Baxter FX is an Australian online brokerage firm providing its services all around the world. Baxter FX is known for its forex trading services and helps the traders in the currency markets by providing them digital access to the international markets. It provides the customers an engaging and trader-friendly platform that helps them to buy and sell the foreign currencies.
It is equipped with advanced technology and tools that assists the customers to connect to the third-party platforms and adapt to them easily. The broker is providing forex trading services globally and is trusted by the traders worldwide. Here is an elaborate Baxter FX review that explains the pros and cons of the broker and some of its distinctive features that makes it a reliable broker among the traders.
Regulation and Security
Baxter FX being an Australian broker, is regulated by the Australian Securities and Investment Commission (ASIC). The broker is made to follow the strict rules and guidelines as per the ASIC requirements. Being regulated by a reputable higher authority, adds up to the safety and security of a firm. It ensures transparency and builds the confidence upon the people that their funds and assets are secured with the broker.
Account Types Offered
Baxter FX offers two types of accounts to the customers, Treasury Account and the Futures Account. The traders can choose among both depending upon their need and requirement. Both of the account types can be initiated with the help of a demo account.
In the Treasury account, the FX trades are decomposed with respect to a component of single currency. Whereas, in the Futures account, every currency is considered as a separate distinct currency.
Methods for Deposits and Withdrawals
Baxter FX does not provide much information about the deposit and withdrawal methods on its official website. However, the sources have claimed that it does not offer many payment methods such as credit cards or debit cards. One can only deposit funds via Bank Wire Transfer. The minimum deposit amount set by the broker is 50,000 USD which is relatively a huge amount for beginners.
One can deposit funds using any currency such as EUR, USD, AUD and GBP. However, one should prefer the native currency in order to avoid the extra conversion charges.
Leverage
Though the leverage offered on crypto assets is less than the leverage on other usual products, still many firms avoid leveraged products as it increases the risk of loss for the traders.
Baxter FX provides high leverage ratio to its customers under the restrictions of ASIC. ASIC still permits leveraged products for the firms under its hold. The leverage ratio offered by Baxter FX ranges from 1:200 to 1:400.
Research
The key to successful trading is sound and ample knowledge of the trading techniques and tools used in the process. One should keep a track of all the processes happening and the way they are happening.
Baxter FX does not provide any such tools and instruments to facilitate its customers. No economic calendars or charts are available on the website to help the traders analyze the market conditions.
Customer Support
An effective and quick customer support service adds to the better profile of a broker. So before initiating trade with any firm, it is mandatory to check upon the customer support service of that firm.
Baxter FX provides an efficient customer service to the traders. It helps them solve their problems and usually answer their queries within time. The traders can contact them via email or the telephone numbers of their Dublin or Sydney offices. The broker can be accessed through the online form available on the official website and thus, the customers can get their problems solved.
Conclusion
Baxter FX is a regulated digital broker assisting the traders worldwide with its effective forex trading services. It provides them a feasible environment and access to the financial markets where can exchange currencies.