General Information & Regulation
Relix Finc is allegedly a financial brokerage founded in 2009 and registered in the United Kingdom that claims to provide its clients with over 300 tradable financial instruments with leverage up to 500:1 and variable spreads from 0.0 pips on the MT4, MT5 and WebTrader trading platforms, as well as a choice of three different live account types and 24/5 customer support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that Relix Finc does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.14/10. Please be aware of the risk.
Market Instruments
Relix Finc advertises that clients can access more than 300 trading instruments in financial markets which include forex, commodities, indices and share CFDs, as well as cryptocurrencies.
Account Types
Relix Finc claims to offer three types of trading accounts - Standard STP, Raw ECN and Pro ECN. The minimum initial deposit for the Standard STP account is $200. The Raw ECN account starts at $500 with the exception of the Pro ECN account about which no further information is given. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Leverage
Relix Fincs standard forex leverage starts at 100:1 and the maximum forex leverage is capped at 500:1. This is only for approved accounts and funds approved for leverage greater than 100:1 will be limited. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
Relix Finc claims that different account types have different spreads and commissions. For instance, clients on the Standard STP account can experience tight spreads from 1.0 pips and no commission charged, the Raw ECN account can enjoy raw spreads from 0.0 pips but have to pay a $3 commission, and the Pro ECN account has spreads from 0.0 pips and a commission of $1.75.
Trading Platform Available
Platforms available for trading at Relix Finc are MT4 and MT5 for PC, Mac, iOS and Android, as well as WebTrader. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
Relix Fincs website states that the broker accepts deposits via a variety of options, consisting of Bank Transfer, BPAY, POLI Payments, credit/debit cards, JCB, China Union Pay, Neteller, Skrill and FasaPay. The minimum initial deposit requirement is said to be $100, while there is no mention of what the minimum withdrawal amount is. Deposit fees and processing time vary depending on payment methods, more details can be found in the below screenshots.
Note that the International Telegraphic Transfer withdrawals attract a minimum fee of 20 units of your account base currency i.e. 20 AUD. Relix Finc will deduct this fee from the withdrawal amount prior to depositing it in the nominated bank account.
Bonuses
Relix Finc claims to offer a welcome bonus. In any case, you should be very cautious if you receive a bonus. Bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Note that brokers are prohibited from using bonuses and promotions by all leading regulators.
Customer Support
Relix Fincs customer support can be reached 9am - 5pm Monday - Friday by Phone (International): +447769927182, +44 737 6158567, email: Support@relixfinc.com or live chat. Company address: 73 Turnpike Lane, London, England, N8 0EE. Head Office: Upper Cranford Centre, Montrose, Dublin 4, D04X6H0, Ireland
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
