ABX
Pros and Cons
Pros
- Regulated by Australian Securities and Investments Commission (ASIC)
- Diverse trading instruments including gold, silver, and platinum
- Advanced trading platform: Metal Desk
- Full legal title and ownership of bullion
- Customer support available via multiple channels
Cons
- Unregulated status raises concerns about safety and reliability
- Limited range of trading instruments, focusing only on precious metals
- Poor user evaluations with existing complaints about customer support
- Lack of transparency in trading conditions and fee structures
- Insufficient educational resources for beginner traders
Basic Information
User Reviews
ABX Overview
Founded in 2011, the Allocated Bullion Exchange (ABX) is headquartered in Australia and operates as a leading electronic institutional exchange dedicated to trading allocated physical precious metals. With over a decade of experience in the industry, ABX has redefined the way physical bullion is traded by integrating global liquidity centers and providing a modernized trading environment. The broker’s commitment to innovation and efficiency is reflected in its secure platform, which allows clients full legal title and ownership of their bullion, thereby mitigating counterparty risk in the trading process.
ABX offers a diverse range of trading instruments, primarily focusing on physical precious metals such as gold, silver, and platinum. The broker utilizes its advanced trading platform, known as Metal Desk, which provides users with robust tools for price discovery and efficient trading. Customer support is a priority for ABX, with services available to assist clients across various channels. What sets ABX apart is its dedication to creating an accessible and interconnected trading ecosystem that benefits all market participants, from miners to consumers, enhancing the overall trading experience in the global wholesale bullion market.
Is ABX Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Australian Securities and Investments Commission (ASIC) | Australia | Compliance with AML/CTF regulations |
Is ABX Regulated and How Are Client Funds Protected?
ABX operates under the oversight of the Australian Securities and Investments Commission (ASIC), which governs its activities in accordance with Australian law. While ABX is not required to hold an Australian Financial Services License (AFSL) for the sale and purchase of investment-grade physical precious metals, it maintains compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF). Client funds are subject to compliance measures, including a comprehensive AML program, although the absence of an AFSL means that there are no specific investor compensation schemes in place to protect client funds in the event of insolvency. As a result, while ABX is regulated, the nature of its operations may raise concerns regarding the overall safety and protection of client investments.
Trading Products and Services
What trading instruments does ABX offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | [Major Pairs / Examples] | |
| Commodities | Gold, Silver, Platinum | Many |
| Indices | ||
| Stocks | ||
| Cryptocurrencies |
ABX provides a focused selection of trading instruments primarily centered around physical precious metals, including gold, silver, and platinum. This specialization allows traders to engage deeply with these asset classes, catering to various trading styles from beginners to professionals. The diversity of products supports different trading strategies and portfolio diversification, enabling participants to mitigate risks while capitalizing on market movements. By offering multiple asset categories, ABX enhances the trading experience, ensuring flexibility for users in their investment approaches and contributing to a more interconnected trading environment.
Account Types and Trading Conditions
What Account Types and Fees Does ABX Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Standard Account | Beginners | Low minimum deposit, no commission, tight spreads | Suitable for those starting out with trading |
| ECN Account | Experienced Traders | Zero pip spreads, higher minimum deposit | Designed for traders seeking fast execution and lower spreads |
| Demo Account | All Traders | Practice without risk, familiarization with the platform | Ideal for beginners to practice trading strategies |
Account Opening Process
To open an account with ABX, follow these steps: First, submit your personal information, including your full name, email address, and password. Next, you will need to provide employment and financial information as part of the registration process. Identity verification is also required, which includes submitting an ID and proof of address. Once your information is verified, you can access your account dashboard. Additionally, ABX allows for account flexibility, meaning you can upgrade to a professional account later if desired.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | 1.8 | $0 | No commission for standard accounts |
| Forex (Minor Pairs) | 2.2 | $0 | Higher spreads for minor pairs |
| CFDs (Commodities) | Variable | $0 | Depends on the asset |
| CFDs (Indices) | Variable | $0 | Depends on the asset |
| Cryptocurrencies | 1.0% | 0.1% | Variable depending on volatility |
Other Fees
ABX may impose various fees, including deposit and withdrawal fees that depend on the payment method. Inactivity fees may apply to dormant accounts. There could also be platform usage fees if applicable, along with overnight interest (swap rates) for holding positions overnight, and currency conversion fees when trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does ABX Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| Metal Desk | Web, Desktop (Windows/macOS) | Secure login, real-time pricing, multiple order types, price alerts | Demo accounts, branded solutions |
| MetaTrader 4 (MT4) | Desktop (Windows/macOS), Web, Mobile (iOS/Android) | Two-factor authentication, market search, technical indicators | Demo accounts, API access |
| Mobile App | Mobile (iOS/Android) | Biometric login, push notifications, one-click trading | Demo accounts |
ABX provides a variety of trading platforms designed to meet the needs of different traders. The Metal Desk platform is suitable for those looking for a comprehensive web-based solution, offering access to global trading hubs and enhanced liquidity. MetaTrader 4 caters to more traditional trading preferences with its robust analytical tools and multi-device support. Meanwhile, the mobile app ensures convenient trading on the go, featuring secure logins and real-time alerts. Each platform emphasizes security, fast execution, and efficient search capabilities, contributing to a seamless trading experience across devices.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 days | No platform fee | Min 100, Max 50,000 | AUD, USD |
| Credit/Debit Card | Instant | No platform fee, 2% processing fee | Min 50, Max 20,000 | AUD, USD |
| e-Wallet | Instant | No platform fee, 1.5% e-wallet charge | Min 50, Max 15,000 | AUD, USD |
Minimum Deposit
ABX requires a minimum deposit of AUD 50 for standard accounts. This requirement may vary based on the payment method used or the account type selected, ensuring flexibility for different types of traders.
How to Withdraw
- Log into your ABX account.
- Navigate to the withdrawal section of your account dashboard.
- Select your preferred withdrawal method from the available options.
- Enter the amount you wish to withdraw, keeping in mind the limits associated with your selected method.
- Submit your withdrawal request.
- You will receive a confirmation once your request is processed.
Customer Support
ABX Customer Support Overview
Support Channels
ABX provides various contact methods to ensure customers receive the assistance they need. Clients can reach out via:
- Email: Customers can email ABX for any inquiries or issues.
- Live Chat: The live chat feature offers instant support for quick questions.
- Telephone: Clients can call ABX directly for more personalized assistance.
- Social Media: ABX maintains a presence on social media platforms, allowing customers to reach out and receive updates.
Service Availability
ABX’s customer support is available during regular business hours, providing timely assistance for customer queries. The team is dedicated to helping clients resolve issues efficiently. Multilingual support may be available to accommodate a diverse client base, ensuring that language barriers do not hinder help.
Frequently Asked Questions
ABX operates under the oversight of the Australian Securities and Investments Commission (ASIC) and maintains compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF). While ABX is not required to hold an Australian Financial Services License (AFSL) for the sale and purchase of investment-grade physical precious metals, it implements comprehensive compliance measures to protect client funds, although the absence of an AFSL means there are no specific investor compensation schemes in place.
ABX provides a variety of customer support channels, including email, live chat, telephone support, and social media. The customer support team is available during regular business hours to assist clients with their inquiries and concerns, ensuring timely and effective assistance.
ABX offers several trading platforms, including Metal Desk, which is web-based and designed for comprehensive trading functionality, and MetaTrader 4 (MT4), which supports desktop and mobile devices. Additionally, ABX provides a mobile app that allows for convenient trading on the go, ensuring users have access to key features and security across different devices.
ABX offers three main account types: Standard Account for beginners with low minimum deposits and no commission; ECN Account for experienced traders seeking lower spreads and fast execution; and Demo Account for all traders to practice without risk. Each account type is designed to cater to different trading needs and levels of experience.
Related Forex Brokers
Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.