theoiltrader
Newbie
- Messages
- 6
- Likes
- 0
Been meaning to post this for a while. I've been using RestroFX for about 6 weeks now and wanted to share some honest thoughts since there's not much out there on them beyond the usual review sites.
Background on me I mainly scalp gold and US indices. I've been through a few brokers over the years and my main gripes are always the same: spreads that widen at the worst time, slow withdrawals, and support that disappears when you actually need something.
Why I tried them
Came across their PowerUp Account and it caught my attention. The idea is they give you 125% buying power on your deposit so $1,000 deposit, you're trading with $2,250 capacity. It's not withdrawable, it's purely margin credit, but for the way I size positions on gold it's actually useful. No challenge, no evaluation, no monthly fee, just stacks on every deposit above $250. I was skeptical at first but the mechanic makes sense once you understand it's buying power not cash.
Execution
Gold and NAS100 have been fine. I haven't had any major slippage issues outside of high-impact news, which is pretty standard. Commissions are $6 RT per lot not the cheapest, but I knew that going in.
Platform
Running on TradeLocker. I hadn't used it before but it didn't take long to get comfortable. Nothing flashy, just works. Mobile is solid too.
Withdrawals
This is always the real test. I did a smaller one first just to see processed same day. Done it twice more since, both under 24 hours. No issues, no excuses, money moved.
Things worth knowing
The stop-out on the PowerUp account is 70% rather than the standard 50%, and margin call triggers at 100%. It's tighter than what I was used to so I had to adjust how I manage positions. Not a dealbreaker but something to be aware of going in.
Regulation is offshore, which is standard for this type of broker. If that's a hard no for you, fair enough.
Let me know what you guys think!
Background on me I mainly scalp gold and US indices. I've been through a few brokers over the years and my main gripes are always the same: spreads that widen at the worst time, slow withdrawals, and support that disappears when you actually need something.
Why I tried them
Came across their PowerUp Account and it caught my attention. The idea is they give you 125% buying power on your deposit so $1,000 deposit, you're trading with $2,250 capacity. It's not withdrawable, it's purely margin credit, but for the way I size positions on gold it's actually useful. No challenge, no evaluation, no monthly fee, just stacks on every deposit above $250. I was skeptical at first but the mechanic makes sense once you understand it's buying power not cash.
Execution
Gold and NAS100 have been fine. I haven't had any major slippage issues outside of high-impact news, which is pretty standard. Commissions are $6 RT per lot not the cheapest, but I knew that going in.
Platform
Running on TradeLocker. I hadn't used it before but it didn't take long to get comfortable. Nothing flashy, just works. Mobile is solid too.
Withdrawals
This is always the real test. I did a smaller one first just to see processed same day. Done it twice more since, both under 24 hours. No issues, no excuses, money moved.
Things worth knowing
The stop-out on the PowerUp account is 70% rather than the standard 50%, and margin call triggers at 100%. It's tighter than what I was used to so I had to adjust how I manage positions. Not a dealbreaker but something to be aware of going in.
Regulation is offshore, which is standard for this type of broker. If that's a hard no for you, fair enough.
Let me know what you guys think!
