Ox Securities Review

Spreads

For many traders, trading costs and brokerage fees are one of the most important considerations when choosing a broker. Every time someone opens their positions or closes their position, there is a cost involved. Over time these costs will add up, so it is important to choose a broker that has low spreads to save on trading costs. Ox Securities aim is to create an optimal trading experience for their customers and a large part of this is by providing very competitive spreads.

Pro-Account Spreads

Ox Securities Pro account uses STP trading execution to deliver its clients with the best possible spreads. Spreads for some currency pairs can be as low as 0.0 pips and while spread costs are usually higher than this, Ox Securities average of 0.9 pip for EURUSD is the best value for this currency pair we have seen.  To keep the spreads tight Ox Securities charge a commission of $3.50 sideway / $7.00 round turn.

Traders that consider themselves as short term or day traders, the low spreads available in Ox Securities Pro Account are appealing.

The below table compares the Ox Securities spreads with other brokers. You will see Ox Securities stacks up well across the board.

Ox Securities Spreads	EUR/USD AUD/USD EUR/JPY GBP/USD USD/JPY	EUR/USD AUD/USD EUR/JPY GBP/USD USD/JPY	EUR/USD AUD/USD EUR/JPY GBP/USD USD/JPY	EUR/USD AUD/USD EUR/JPY GBP/USD USD/JPY	EUR/USD AUD/USD EUR/JPY GBP/USD USD/JPY
	0.09	0.30	0.44	0.49	0.36
	0.30	0.50	0.50	0.60	0.50
	0.30	0.40	0.50	0.60	0.30
	0.44	0.42	0.30	0.85	0.20
	0.17	0.30	0.68	0.60	0.24
	0.20	0.40	0.70	0.60	0.30
	0.10	0.50	0.80	0.60	0.40
	0.40	0.70	0.60	0.70	0.50

Data taken from broker website. Accurate as at 01/09/2020

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Standard Account Spreads

Spreads for the standard account are wider than the STP style account but this is because the cost is included in the spread rather than as a commission. While the spreads will cost slightly more than with a Pro account, they will appeal to beginner traders as the cost structure is less complex and therefore easier to manage. Commission-free trading is also of interest to long term or discretionary traders as infrequent trading mean cost don’t accumulate the same was a scalper might experience.

The standard account has spread from 1.1 for major currency pairs with an avg of 1.19 for EURUSD currency pair.

Traders who are in the early stages of their trading career or may not have great amounts of capital to invest, the minimum trade size of 0.01 lots is a testament to Ox Securities commitment serving the needs of all customers, not just the wealthier ones.

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Account types

Ox Securities offers 3 different types of accounts. These are the Standard account, Pro Account and Swap Free Account.

All three account offer than same basic features this includes

• Leverage of 400:1
• No minimum deposits requirements
• Minimum lot size of 0.1 which means you can trade with micro-lots

The Standard account is a commission-free account. As there is no commissions spreads start from 1.0 pip. This account will appeal

Standard Account

The Standard account is a commission-free account. As there are no commissions spreads start from 1.0 pip. This account will appeal beginner traders who don’t wish to concern themselves with commission costs which can be more complex to calculate and long term traders who don’t trade on a regular basis.

This account is also ideal for conservative traders as the stop out level is set to 50%. This means the broker will exit your from trade when your equity is below 50%.

Pro Account

The Pro account is designed for day traders and scalpers who will want to minimise their costs as frequent trading means cost creep as you pay cost exch time you open and close your position.

The Pro account offers the tightest spreads that Ox Securities offers, spreads can go as low as 0.0 pips. Spreads are tight because commissions are used in place of a wider spread. Commissions are $7.00 round-turn ($3.50 side-ways)

The stop out level for this account is 20%

Swap-Free Account

This account is the same as the Standard Account. Its main difference is that it has no overnight costs or rolling interest. Ox Securities are unusual in that they do not use alternate fees in place of swaps. Most brokers apply an administration fee so this is a truly swap-free account.

The swap-free account is designed for Muslim traders who are forbidden from paying interest fees under Islamic sharia law.

Leverage

Ox Securities offers a very attractive leverage ratio. With a leverage of up to 400:1, customers can enjoy a higher return on their investments when trading with Ox Securities. For reference, the maximum leverage offered for other brokers we have reviewed is 500:1 and the minimum is 30:1.

Be sure to keep in mind the risks that can come with such high leverage. Whilst there is the opportunity to maximise profits, leverage can lead to larger than expected debts, especially when market climates turn are volatile.

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Trading Platforms

Ox Securities are still a fairly new broker in the industry and as such currently only offer one trading platform, MetaTrader 4. This is can be seen as a good thing, as it means the broker can offer a truly specialised service in the platform they offer. MetaTrader 4 is generally considered the gold standard when it comes to forex trading platforms on the market, so OX Securities are certainly making sure you have the best platform choice available.

MetaTrader 4:

• An extremely popular and easy to use platform
• Good functionality for all different types of users, regardless if beginner,
  intermediate or advanced.
• Fast execution speeds and prompt order management functionality
• Offers algorithmic trading and Expert Advisors for scalping traders

MetaTrader 4 is currently available on Windows, macOS, iOS, Android and Linux allowing you to manage your investments and trade on the go, providing complete control and confidence.

Ox Securities straight-through processing model

Ox Securities uses a straight-through processing (STP) trading model which means the broker will execute the bid-ask rates provided by the liquidity providers.  This is good because it means the broker is not manipulating the quotes set by the market. This means they can operate with a level of honesty, integrity and transparency.

With an STP model, OxSecurities play the role of a ‘no dealing desk’ broker rather than a market maker. Playing this role keeps trading ‘pure’ as the broker does not act as the counterparty to your trades.  Instead, they connect you with big banks and hedge funds who provide the liquidity for trading.

Fast Execution, Low Slippage Risks, No Requotes

STP execution requires fast execution speeds so that the most accurate quotes can be offered and honoured. Any lags between the time a quote is sourced from the liquidity provider and the time the trader orders can lead to slippage. Fast execution greatly reduces the risk of slippage.

When slippage occurs with market execution, then your orders will open or close at the next best available price. While this helps ensure no requotes and it is possible this policy can work in the trader’s favour, it is usually better if you can buy and sell at the quoted price.

One last benefit of fast execution is the increased likelihood that you orders will be filled. When there is not enough liquidity in the market then liquidity providers will either reject or the orders or only partially fill the orders.

Ox Securities achieves its fast execution by using the Equinix NY4 data centre for its trading servers.  The NY4 achieves fast speeds as it is the data centre used by over 60 stock exchanges and over 650 trading companies and financial service providers. This means Ox Securities can quickly connect you with a large number of liquidity providers through dedicated links as they also use the centre. This includes over 50 banks.

Customer Support

As Ox Securities mission is to provide their clients with the most complete broker experience, delivered through the values of honesty and integrity, they have a dedicated customer support service

• 24-hour contact, 5 days a week
• Live chat
• eMail
• Phone
• Postal Address

Deposits And Withdrawals

Ox Securities have no minimum deposit when using their platform. Whether depositing into a standard account or pro account, there is no minimum amount.

When depositing into an Ox Securities account, there are many ways to do so:

• Credit/Debit Card
• Bank Transfer
• Skrill
• Neteller
• China Union Pay
• Ali Pay

Whilst these are the current methods available, Ox Securities have confirmed that there will be more options in the near future.

Furthermore, the base currencies are USD, EUR, CAD, SGD, HKD, GBP and AUD. Whilst there is no deposit or withdrawal fees, traders should still consider the base currency they are used to and the fact that commissions are based on the currency chosen. Ox Securities pro account does have a commission of $7 per lot.

Forex And CFDs

Choosing to use Ox Securities as your broker will allow you to trade with up to 64 trading products. These products fall under the instruments of:

• Forex – The Forex market provides traders with the opportunity to trade 24 hours a day, 5 days a week in the world’s most liquid financial market. Traders can take advantage of the tight spreads, superior execution, and deep liquidity across Ox Securities entire range of tradeable products
• Indices – Gain exposure to the world’s largest stock markets through Ox Securities offering of global index CFDs. With competitive pricing and deep liquidity, traders can take a wider view of equities markets whilst enjoying commission-free and 24/5 trading across major markets. Trade through bull and bear markets and profit from both rising and falling markets. Leverage available is 1:100
• Commodities – Ox Securities provides a flexible and easy way to participate in some of the world’s most popular commodities products, including energy and precious metals, which can be traded via the MT4 platform. Leverage is 1:100
• Cryptocurrencies – Cryptocurrencies from Bitcoin, Bitcoin Cash, Litecoin to Ethereum has increased in trader volume with high volatility on a daily basis. When a trader trades on crypto-assets such as Bitcoin in Australia (under ASIC) they are NOT purchasing an underlying asset. Rather than purchasing crypto, a Contract For Difference (CFDs) is exchanged so, no actual cryptocurrency is purchased by Ox Securities on a traders behalf. Leverage is 1:5

CFD products available

Regulation & Safety

Ox Securities is 100% owned by Ruizean Markets who is ASIC regulated and all client funds are held by Ruizean Markets in Australia with tier 1 banks. All fund funds are segregated from Company Funds and held with an AA Grade International Bank. Customer funds are 100% safe with Ox Securities.

Ox Securities do not accept Australian residents but will accept all clients outside the USA & Australia without any limits on income or assets. Ruizean Markets will accept Australian residents and wholesale clients (which is defined by ASIC as a someone with at least 250k income or 2.5mn net assets).

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