Do not invest more money than you can afford to lose.
A new broker has entered the retail forex market under the brand name EQL-X (eqlx), the broker said in a press release made available to SMN Weekly on Wednesday. It is a trading name of forex brokerage group ACM Group, aka Alpha and trading as Alpha Capital Markets, which holds a license by the UK Financial Conduct Authority (FCA).
The broker launches with an innovative strategy to split 50/50 its net profit with active traders on a quarterly basis, hence the name eqlx which stands for EQUAL X. In what manner would the funds be distributed among clients was not specified. In addition, eqlx will publish regular reports with a detailed breakdown of revenue and expenses incurred, aiming to bring full transparency and trust to the fore.
“With this new level of transparency as a core tenant of ours, we are able to go a step further by treating our active traders as equals by actually valuing them on par with ourselves,” said eqlx co-founder and CEO Matthew Carstens. “We will literally be distributing 50% of any net profits of the company back to our fantastic group of active traders because we understand we are nothing without them,” he added.
eqlx works with retail and institutional clients alike. The broker’s offering consists of more than 900 tradable instruments, including OTC traded currencies and contracts for difference (CFD) on forex, indices, stocks, oil and precious metals. It has only one type of trading account with a minimum deposit of $50/£30, but presents different trading conditions for the different tradable instruments. Spreads start from 0 pips and for most instruments there is no commission. For forex, however, there is a commission fee of 4 cents per 1,000 lot. Offered leverage rated also differs for the various instruments, but the maximum available is 200:1. More details follow:
eqlx supports the industry’s most widely-used trading pkatfiorm, MetaTrader 4 (MT4), but also offers a proprietary platform called eqlTrader. Both platforms are available as desktop or mobile (iOS, Andoroid) applications, and eqlTrader is also available as a web-based platform.
eqlx, www.eqlx.io, is headquartered in London and headed by industry veteran Matthew Carstens, who has worked in brokerage ThinkForex and technology company GFT. According to the FCA register, the brand EQL-X is effective as of 15 August, 2016.
ACM Group, set up in 2004, is based and regulated in the UK. It is a broker and market maker offering trading in margined forex, CFDs, and spread betting. It operates under Alpha Capital Markets brand, but also does business via introducing brokers and other partners.
