AuraFX Review - Is AuraFX a Reputable Forex Broker?
AuraFX is a New Zealand-based broker that provides access to the Forex markets through its MT4 platform. Its parent company is registered with the Financial Markets Authority FMA, but the broker itself is not listed on this register. The AuraFX brand is owned by AURA FX NZ Ltd, but it s actually run by another company named Aura Group Ltd. In addition to forex trading, AuraFX offers customers over 50 currency pairs and a wide range of commodities.
The broker s website is easy to navigate and offers two account types. There are 70 trading instruments to choose from, and the software is incredibly user-friendly. It also offers mobile applications, which means that you can easily trade from the go. The only downside is the lack of a phone number for customer support. Another major flaw is the lack of e-Wallet methods for depositing and withdrawing funds. If you are new to trading, this might not be the broker for you.
While many brokers have a good reputation, not all of them are. There are many differences between brokers in terms of reliability, but there are some things that you should look for in a broker. Firstly, make sure the broker has enough financial operating capital. Second, ensure that it has been in business for a long time and holds all necessary regulatory licenses. If the broker is licensed by the appropriate regulatory body, you ll know that the broker is compliant with local regulations.
If you re looking for a reliable forex broker, make sure the company has been registered by the CFTC. Doing so will ensure that it meets financial standards and adheres to regulatory guidelines. Make sure to check out their website for details on CFTC and National Futures Association membership. Also, a good broker will be registered with these two organizations, so be wary of unregistered forex brokers. This will ensure that you are protected against fraud.
Once you ve chosen the broker, you ll need to create an account with them. It s not unlike opening a bank account, and you ll have to fill out paperwork and other identity verification steps. This could take a few days, but the benefits of an account with a forex broker are numerous. Besides that, they typically offer free demo accounts that let you test the market before investing real money. So, make sure you research your broker before deciding on one.