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Dualix

Dualix is owned and operated by Maxigrid Limited (previously AGM Markets Limited). The company is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license 145/11. As a member of the ICF (Investor Compensation Fund), it keeps all clients’ funds in segregated accounts.

Dualix offers currency pairs and CFDs on Commodities, Indices, Shares, and cryptocurrencies through the MetaTrader 4 (MT4) trading platform. MetaTrader 4 is one of the most popular forex trading platforms in the world today. It provides all the necessary tools that allow traders to conduct research and analysis and use third-party automated trading software. The MQL4 language is built-in and allows you to create your own Expert Advisors (EAs) based on your own programmed strategy. MetaTrader 4 is available for all company account holders on Desktop, Web Based and for Mobile devices.

There are different types of accounts available and you can view them in the comparative table of the Accounts section of the website. They differ mainly in the required minimum amount of the deposit and the commission charged per lot. The company notes that you can start with as low as EUR250, but it recommends the Bronze account starting with EUR1,000 deposit. The other accounts are named Solver, Gold, Platinum and Premium. You must invest at least EUR50,000 to open a Premium account and will be charged EUR5 per lot. Accounts can be funded by bank transfer, credit/debit card, Skrill, SafeCharge, Sofort and iDeal.

The company offers a kind of social trading service called Mirror Trading. It allows you to follow trades opened by investors who use only algorithmic-based strategies. There are more than 3000 such strategies tested.

The Market Maker Execution section of the webpage provides a detailed explanation of what kind of broker Dualix is. After all, the company announces itself to be a middle ground between a market maker and an ECN broker, providing a similar environment and the only thing you must pay is the spread. However, the Terms and Conditions document reveals that the company will provide the services in its capacity as a market maker, so the conflict of interest exists.

The Order Execution Policy document shows the company offers negative balance protection and in the event that a negative balance occurs in the clients’ account due to stop out and/or extremely volatile market conditions it will make a relevant adjustment to cover the full negative amount. This means that you will never lose more than the amounts you invested with Dualix.

We would like to mention some things about the fees you may have to pay. The Terms and Conditions document informs that the company has the right to charge a fixed fee of EUR1000 in case of inactivity for 6 months. Moreover, the company has a right to charge a fixed fee of EUR500 every quarter for implementation and support. In addition, there is a tax for account maintenance of EUR25.

Overall, although Dualix is a regulated company, it is a market maker that imposes high fees. Be careful and read the clauses in the legal documents, because your entire profit may cover a quarterly fee.

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