Celox Live Review
Celox Live is a forex & crypto trading platform that takes the traditional FX brokerage model to the next generation with cryptocurrency for deposit and trade settlement in addition to the regular Fiat currency trading possibilities. This allows Celox Live to offer higher leverage, a diverse array of trading instruments.
Celox Live is an offshore Forex broker that allows traders to deposit via Bitcoin and bank transfer, and credit cards.
Since Bitcoin is pseudonymous (not 100% anonymous!!!), it is not obvious without great effort exactly who is the source of deposits and the recipient of withdrawals.
Celox provides a trading platform for Android, Mac, Windows and iOS devices. It is geared towards Forex currency trading and commodities trading, with several other asset categories as well. A wide range of educational equipment and resources are available, including a glossary, market news, charts, graphs, instant market prices and a financial calendar.
Celox Live opens up Forex to those who are coming from the world of cryptocurrency. And it does this with an easy to understand trading platform and solid trading conditions. Those who take privacy seriously will appreciate Celox Live’ way of handling accounts. Their market analysis and market report continue to fly, updated as great assets to have for any broker. It gives the trader this much needed extra information to make better trading decisions. The rates are fair, and they offer more than enough for most traders when it comes to assets for trading.
If you are a professional trader, this broker most likely will not be good enough for you. ( try then this one ) Still, if you are a beginner or someone that has been trading as a day trader and look to open a few positions a week, this broker will be able to accommodate you nicely.
Which Trading Account Types does Celox Offer?
Celox Live provides one account type: raw spread and commission trading for all trading pairs on their trading platform and allows hedging, scalping, and trading through expert advisors.
Traders can trade with up to:
- 10:1 leverage on cryptocurrency pairs such as BTC/USD
- 300:1 leverage on Forex.
- 100:1 leverage on Commodities and indices.
Celox Live features narrow spreads across all trading pairs; The spreads are fixed and variable.
All account types come with negative balance protection. Since Forex markets are not continuous, the price can fluctuate between the end of one session and another. Therefore, it is possible to end up with a negative balance in your account.
Even if you have a stop-losses set that a price move would normally trigger, if the market is not in session at that time, your stop-loss order will not be executed. In this case, the account balance is set to 0, and your negative balance will be wiped out.
In addition to the real accounts, Celox Live also provides free demo accounts on their demo server. These demo accounts do not expire.
Celox Live was founded in 2021. Celox Live, an IBC (International Business Company), is behind the Celox Live brokerage and is based in Saint Vincent and the Grenadines.
Many offshore forex brokerages are based there due to the simple and inexpensive registration process and hands-off approach taken by the regulatory agencies.
Consequently, many regulations you may be familiar with in dealing with other Forex brokers do not apply to Celox Live.
Whether this is a bad thing that might be considered a matter of personal opinion.
Are my Funds save with Celox?
Security of Funds – Celox Review
Since Celox Live is operated by an IBC, safeguards such as keeping client funds in segregated accounts and keeping a minimum amount of capital on hand are not required to be implemented. At the same time, they still perform this action to provide higher security for their clients’ funds.
International security standard
The company’s internal procedures are based on the PCI DSS security standard, which involves a complex approach to information security of the clients’ data.
Data storage protection
Data of users is protected not only while transferring between the company’s website and the browser, but we also provide encryption of all stored information that helps prevent unauthorized access to our client’s data.
Protection from Negative Balance
Celox company compensates for the clients’ losses that exceed the number of funds on their trading accounts. This means that when a negative balance occurs because of a sharp movement on the market, it will be set to zero to protect the clients from unexpected losses.
Multilevel system of servers
Infrastructure, which consists of multiple servers, supports uninterrupted work of the system. And a complex scheme of data backup helps prevent loss of the clients’ information (personal data, history of commercial transactions, etc.) in any situation.
Data Transfer Protection
Data transfer via an SSL secure connection with encryption of information helps prevent user data interception by a third party while working with the website, no matter where you are.
What are the Platform & Trading Conditions of Celox Live?
Celox Live supports a trading platform that offers trading through desktop, web and mobile versions.
Everything you need to analyze the market, trade, or create and utilize Expert Advisors is all there. The Platform supports any browser or operating system (i.e., Windows, Linux, Mac) with no software download required. ( but is optional)
Celox Live leverages a worldwide network of data centres
to ensure excellent connectivity in all regions of the world.
Celox Market’s execution model is STP or Straight-Through Processing
This model avoids the use of a dealing desk and directly sends your orders to liquidity providers. Celox ’s support team is available through e-mail during Forex market hours.
Most major currency pairs such as EUR/USD and more…
Exotics such as USD/TRY, EUR/TRY, TRY/JPY, USD/CNH, USD/HKD, USD/DKK and EUR/DKK.
In addition to Forex, Celox Live also allows trading in commodities, indices (using CFDs) and cryptocurrencies.
Conclusion of Celox Live Review
Celox Live opens up Forex to those who are coming from the world of cryptocurrency.
And it does this with an easy to understand trading platform and solid trading conditions.
Those who take privacy seriously will appreciate Celox Live’ way of handling accounts.
Their market analysis and market report continue to fly, updated as great assets to have for any broker. It gives the trader this much needed extra information to make better trading decisions.
The rates are fair, and they offer more than enough for most traders when it comes to assets for trading.
If you are a professional trader, this broker most likely will not be good enough for you. Still, if you are a beginner or someone that has been trading as a day trader and look to open a few positions a week, this broker will be able to accommodate you nicely.
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