Editor’s Verdict
Overview
Review
Headquarters | Canada |
|---|---|
Year Established | 2006 |
US Persons Accepted? |
FX Clearing carries on business as an online Forex dealer for foreign investors. It is located in Ottawa, Ontario, Canada. The company takes the somewhat unusual step of establishing its legitimacy and authenticity by making facsimiles of both its Articles of Incorporation and a FinTRAC Registration Page available for viewing by any or all of its potential clients. FinTRAC is a Canadian government anti-money laundering organization. The firm appears to have been operating since September 15, 2006. FX Clearing offers a download of MetaTrader 4. This widely used platform is said to offer traders powerful features including intelligence and analysis of the Foreign Exchange market, which can help them to trading profitably there. Just some of these features are trading from the charts, real-time pricing, and a large number of technical indicators and line studies. The version of MetaTrader 4 offered for download by FX Clearing allows one to trade on both demo and live accounts. In fact you may open as many as 8 live trading accounts, with FX Clearing provided they all have the same account owner. FX Clearing seems keen on attracting new foreign business as evinced by a number of different promotions. At the time of this review some were listed as follows: FOR MICRO-CENTS ACCOUNTS: · Deposit at least $100 and receive 10% credit. · Deposit at least $500 and receive 15% credit. · Deposit at least $1,000 and receive 20% credit (up to $300 credit per account). FOR MINI ACCOUNTS: · Deposit at least $100 and receive 10% credit (up to $200 credit per account). A “Birthday Promo” promises a surprise gift on your birthday if you deposit a given amount of money with the firm. Please verify the particulars of all promotions mentioned with FX Clearing itself. It is important to note (as the company does in its FAQ section) that FX Clearing accepts no Canadian clients ostensibly because “There is no forex licensing in Canada, and we are not required to obtain a security license if no Canadian clients are solicited or accepted”. Clients originating in the USA are not accepted either as this would necessitate FX Clearing opening an office in the USA and registering with US authorities. The company has no plan to do this.