Fondex, the retail Forex broker owned by TopFX, announced that it continues to keep the same competitive conditions for trading oil, with no changes in the leverage and commissions they are charging their clients, despite the turbulent times in the oil markets.
Oil markets plunged into negative territory on April 17, making the market more volatile than ever. Many retail brokers are incapable of dealing in such conditions. The decision to keep trading conditions the same goes in the opposite direction of many brokers who have adjusted their leverage and charges, with Liquidity Providers setting some pressure by rising spreads.
Alex Sologubov, COO of Fondex, commented: “We are very happy to be able to offer our clients the same conditions in trading Oil as before. All this uncertainty has indeed tested the market over the past weeks and we, as brokers, are very curious to see where all this will take us. One thing we know for sure is that we always aim to provide our clients with the most competitive trading conditions, and we come to prove it once again during this current situation with the Oil prices.”
Licensed by the Cyprus Securities and Exchange Commission (CySEC), the broker offers more than 1000 instruments across 7 asset classes so that its clients are able to create a well-diversified trading portfolio. Traders can use the Fondex cTrader to trade manually copying other traders’ strategies, using cBots and following signals from Trading Central and Autochartist.
According to the broker, and due to the complex nature of CFDs, traders have a high risk of losing money rapidly due to leverage, with 75.12% of retail investor accounts losing money when trading CFDs with this provider.
Earlier this month, Fondex launched Execution Transparency, a new section on their website showcasing real-time active trader spreads in order to provide an easy-to-understand graphical representation of the broker’s historical spreads, based on the most popular markets traded on Fondex cTrader. Fondex users can view a chart fit to their parameters as they select their preferred instrument from the Popular Markets drop-down list, along with the time period from the chart’s period bar. The spikes on the graph represent the spread values for a selected instrument, on a 15-minute weighted average time frame. A shorter or longer time frame can also be adjusted, by moving the bars on the time period axis.