On-line since: About the company: Compass FX is an independent representative of brokerage companies. It is headquartered in Richardson, Texas. The company was established in 1990 and since then it has been providing access to trading on Forex. Compass FX is regulated by the National Futures Association (NFA – 0232832). Compass FX (RTY Trading Group, Compass Inc) serves as an intermediary between the US traders and clearing houses. Compass Foreign Exchange, LLC, a non-registered member, serves as an intermediary between traders and clearing houses outside the United States. Compass FX established steady partnership with brokers that stick to the highest standards in the strictly regulated industry. The company offers trading with Forex.com, FXCM, DirectFX, FXDD Global, and Tier1FX. Trading conditions Spreads on EUR/USD and USD/JPY are from 2 to 3 points while on other currency pairs spreads vary from 3 to 4 points. The company provides fast orders execution. Besides, hedging is allowed. The leverage ranges from 1:50 to 1:200. Moreover, micro lots and IRA accounts are available. Trading platform Compass FX provides MetaTrader 4 for trading. It is one of the most innovative and powerful platforms. MT4 features a user-friendly multi-functional interface that enables traders to control their deals easily even on mobile devices. MetaTrader 4 has distinct advantages comparing to other trading platforms and can satisfy needs of the most demanding users. Customer support service Client support managers of Compass FX can be contacted by email, phone or fax. The company provides superior educational programs to both experienced traders and beginners. There is no information about payment methods on the broker’s website. Probably, it carries out transactions through bank wire transfers. Advantages:
Disadvantages:
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Out of the many existing brokers nowadays, it is difficult to know which one should be trusted. The first thing that I consider is if the broker is regulated. Then the other considerations such as the trading cost, customer support, and payment system follow. I came across Compass FX and it fits all my considerations. It is regulated, and has a reasonably low trading cost, reliable customer support, and an efficient payment system. I did not hesitate to open an account with them and I don't regret it at all now.
Compass FX is not a good broker. They always make it sound like they give you advice in their interests, but they have provided shoddy advice. I had losing trades one after another, and this is from their advisors. Also, the online software is not very reliable. Despite several bug fixes, it still keeps hanging on me, and they will not compensate you for any errors that occurred from their online platform.
Compass FX was introduced to me by a friend. The broker was not very demanding when it comes to initial deposit which is advantageous for me because I did not want to invest a huge amount right from the start. So far, the experience is great. The platform runs smoothly, the spread is tight, and the tools are useful.
I have earned some good profits since I joined Compass Fx. At the moment, my fund grows up to $1050, and I have already made some withdrawal in several times. I normally trade on EUR/USD or USD/CAD as it has become my favorite currency pair as well. Platform system is working smoothly, and I also used MT4. The platforms Mt 4 and Mt 5 are working fast and without the broker manipulating the prices. Spreads are tight and customer staff is very polite.
I've lost $400 in Standard accounts with Compass FX, where I got the biggest slippage to open a deal and also they ridiculously wide up the spread on occasion any news releases time. AS some of my orders are affected by wrong execution. Although I know that slippages and increased spreads are a part of the market but they are too much. So I am awful to trade on the Compass FX platform.
My friend introduced Compass FX to me. Since he said that he has an amazing experience with this broker, I did not hesitate anymore and started my own account. Indeed, this broker is incredible. The trading platform is easy to use and it runs smoothly. The fees are competent and the support team is responsive.
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