RubixFX Review 2019 By FinanceBrokerage - Is RubixFX a Good Broker?
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General Information
Broker Name:Rubix FX
Broker Type:Forex
Country:Australia
Operating since year:2014
Regulation:CySEC, MiFID
Address:Level 27, 25 Bligh Street, Sydney NSW 2000, Australia
Broker status:Regulated
Customer Service
Phone:+61 (2) 9099 4288
Email:support@rubixfx.com
Languages:English, Chinese
Availability:Monday to Friday, 09:00-18:00
Trading
Trading Platforms:MetaTrader 4
Demo Account:Yes
Mobile trading:Yes
Web based trading:Yes
Other trading instruments:currencies, CFD indices, and commodities.
Account
Minimum deposit ($)$200
Maximal leverage (1:?)1:400
Platform Review
Rubix FX Content

● Introduction
● Trading Account

○ Standard
○ ECN

● Trading Conditions
● Trading Elements

○ Forex
○ CFDs
○ Commodities

● Security of Funds, Regulations, and Licenses
● Additional Information

○ Website
○ Customer Service
○ Payment Options

● Conclusion

Rubix FX Review 2019 — Purchased Ratings and Nothing New to Offer






Rubix FXis an Australian broker registered under the name Gleneagle Markets Pty Ltd. They have been operating since 2014. So far, they have not been part of any news or scams, which is reassuring. Though, some broker review websites have mentioned a high amount of positive reviews posted simultaneously. This makes us think that Rubix FX purchases their ratings, which is not trustworthy.

In this Rubix FX review we will discuss their pros and cons. The goal is to inform you to the maximum. We want to help you choose the right broker for your trading, so please read this review to the fullest.

In summary, the trading elements offered by Rubix FX are not vast or fully disclosed. The trading conditions are average in the industry and do not offer any specs. The regulation does exist, but it is not under the name of the broker but under the corporation. The website is full of bugs, the customer service is not too great. There is no educational content offered by Rubix FX and the broker is not suitable for novices. The payment options are also quite limited.

Trading Accounts at Rubix FX

Rubix FX has two trading account types available, standard and ECN. Neither of the accounts are suitable for beginners since they have high minimum deposits, spreads and leverage. It is unfortunate to see such a big corporation not include novice traders into their selections.

Standard Account
● Minimum deposit: $200
● Minimum trade size: 0.01 lots
● Maximum leverage: 1:400
● Average spreads: 1.3 pips
● Commission: none

ECN Account
● Minimum deposit: $100
● Minimum trade size: 0.01 lots
● Maximum leverage: 1:400
● Average spreads:0.3 pips
● Commission: $5 per lot

The offered accounts are very basic and offer minimum information on the website. The minimum deposits are high, though the standard account requires less it offers a much higher spread. As discussed, we do not think these accounts are suitable for beginners. Additionally, there is no demo account offered at Rubix FX.

Overall, we are not happy with the options offered at Rubix FX. They are limiting and do not have great features. All accounts trade on the MT4 platform.




Trading Conditions at Rubix FX

When trading with Rubix FX, you will be using the MT4 platform. MetaTrader 4 provides all of the needed tools and features, such as advanced charting packages, expert advisors, a number of technical indicators, extensive back testing, and more. Rubix FX also provides VPS (virtual private server) which allows you to use expert advisors 24 hours a day. Though there will be additional charges with the use of VPS, depending on the trading volume. It could range from $29 USD to $98 USD per month.

Rubix FX Clients have a chance to take advantage of copy trading with MyFXBook’s AutoTrade. AutoTrade connects to the MT4 platform and operates easily. The goal is to copy trades of the investor of your choice, and make your wins and losses accordingly.

As discussed in the accounts section, the minimum deposit is $200, which is the average in the industry. The spreads offered by Rubix FX on Standard account vary from 1.0-1.5 pips. The ECN spreads though, are quite good. They average at 0.3 pips on EUR/USD, which are followed by $2.5 fee per lot. But ECN requires a minimum of $1000 to register.

The maximum leverage of 1:400 is quite high, but the standard is set to 1:100. You have an option to choose the leverage of your choice, depending on how much you are willing to risk your asserts. The higher the leverage, the higher the risk. Obviously, it applies to the opposite as well. The higher the leverage, the higher the profits.

Trading Elements at Rubix FX

At Rubix FX you have an option to trader Forex, CFD indices and commodities. They provide detailed information regarding all of the financial elements on their website.

Their forex tab discusses the advantages of trading forex, but does not list the currencies they offer. Rubix FX only tells us they offer 70 currency pairs, which are left to assume include major, minor and exotic pairs.

The same applies to CFD indices. Rubix FX simply explains what CFDs are and what advantages come with trading CFDs. They simply say they offer 11 major international equity indices on MT4.

The commodities are actually listed on the website: gold, silver and oil. They offer spot gold and spot silver, UK and US crude oil. They are discussed on the website, but the options are quite limited.

Overall, we are not very satisfied with the elements offered at Rubix FX. This is mainly due to the fact that the financial instruments are not disclosed, and traders have to hope to find what they are looking for. The options of commodities are limiting and can not compare with other brokers. The amount of offered currencies is average, but we do not know the spreads for each pair. We also do could not find the list of offered CFDs on the website.



Safety of Funds, Regulations, and Licenses at Rubix FX

Though the regulation at Rubix FX does exist, it is quite stretched over. Rubix FX is registered under the name Gleneagle Markets Pty Ltd which is regulated by ASIC. We prefer for the brokers themselves to have regulations under their name, since it provides tighter control. When a corporation is regulated rather than the broker, there are many leeways and loopholes left.

Additional Information about Rubix FX

The website for Rubix FX often lags and does not display the text with the images correctly. Though it is quite easy to navigate, the website does not leave a very impressive feeling. It seems rushed and unfinished, due to which the images and text do not display right. Only two languages are available: Chinese and English. We consider this a huge minus among other brokers. Usually brokers provide at least five choices for their website The Asian version of the website completely differs from English, and is much harder to navigate.

The customer service is available via chat, phone or fax on Rubix FX. The live-chat also lags on the website, and often does not appear at all. We had to refresh the page several times before we were able to open the chat tab. The fact that no emails are provided on the website is not good. Users should have all options to get in touch with Rubix FX digitally. The “contact us” page is clickable, but does not load. We are quite unhappy with the web development of Rubix FX.

We did not find them anywhere on social media.
We did not find any education materials on Rubix FX.

The payment options offered by Rubix FX are also quite narrow. The currencies vary with the method of payment as well.

● Credit/Debit cards — AUD, USD, EUR, SGD
● Bank wire — AUD, USD, EUR, CAD, GBP, SGD
● Neteller
● China UnionPay — USD

Though Rubix FX does not charge any extra fees for deposit and withdrawals with bank wires, they do with cards. Many charge come with the use of cards with the brokers. Especially that international payments usually come with their own charges as well.
Rubix FX only offers one e-Wallet, and though it is quite popular, it is not enough. The currencies offered are quite popular, but the fact they differ amount transaction methods is disheartening.

Rubix FX Review Conclusion — Unsatisfied With the Information and Possible Scams


According to ASIC, clients funds are to be segregated from the company’s. Other criteria which must be met by Australian brokers are also met, according to Rubix FX. ASIC requires Australian forex brokers to hold at least $1 million in order to operate. Though, keep in mind that there is no compensation scheme provided by the regulator.

Overall, we are not fully satisfied with the regulations and safety, There is no regulation number on the website, no link to their licenses, or any details openly discussed regarding safety. We do not fully trust the broker and advise you not to either.

Additional Information about Rubix FX

The website for Rubix FX often lags and does not display the text with the images correctly. Though it is quite easy to navigate, the website does not leave a very impressive feeling. It seems rushed and unfinished, due to which the images and text do not display right. Only two languages are available: Chinese and English. We consider this a huge minus among other brokers. Usually brokers provide at least five choices for their website The Asian version of the website completely differs from English, and is much harder to navigate.

The customer service is available via chat, phone or fax on Rubix FX. The live-chat also lags on the website, and often does not appear at all. We had to refresh the page several times before we were able to open the chat tab. The fact that no emails are provided on the website is not good. Users should have all options to get in touch with Rubix FX digitally. The “contact us” page is clickable, but does not load. We are quite unhappy with the web development of Rubix FX.

We did not find them anywhere on social media.
We did not find any education materials on Rubix FX.

The payment options offered by Rubix FX are also quite narrow. The currencies vary with the method of payment as well.

● Credit/Debit cards — AUD, USD, EUR, SGD
● Bank wire — AUD, USD, EUR, CAD, GBP, SGD
● Neteller
● China UnionPay — USD

Though Rubix FX does not charge any extra fees for deposit and withdrawals with bank wires, they do with cards. Many charge come with the use of cards with the brokers. Especially that international payments usually come with their own charges as well.
Rubix FX only offers


Rubix FX Review Conclusion — Unsatisfied With the Information and Possible Scams

The main question still remains: why would Rubix FX need to purchase their ratings? Well, because they do not have anything new to offer to the industry. They do not disclose much information about their company, regulations, or trading elements. We are only left to assume what they have to offer. The regulations were found via google, as Rubix FX does not list it on their website.

Overall, we do not advise you to trade with Rubix FX. It is better to find a less secretive broker who also offers a global website. Of course, if you still choose to trade with Rubix FX you will receive the basic packages for a higher price. If you have had any experience with the broker, please leave your comments and ratings below. We hope this Rubix FX review informed you fully and helped you make a decision. We wish you the best of luck in trading.


Overall
4
  • Support
    (4)
  • Platform
    (4.5)
  • Spread
    (4)
  • Trading Instrument
    (4.5)

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2 Comments

  1. Tommy Mccarthy November 29, 2018
  2. elenagrace mcfee June 28, 2019

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