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Baxter-FX is a legally registered forex broker located in Australia, regulated by the Australian Securities and Investments Commission (ASIC)
Be aware, ASIC has placed some trading restrictions on AU brokers since late March 2021 (such as reduced trading leverage).
Baxter-FX doesn't disclose any specific information regarding which clients (from which countries) are accepted and which are not.
Forex broker offers the following underlying assets for trading.
| 100+ Currency Pairs | Based on major, minor and exotic world currencies. |
Baxter-FX is a forex clearing firm registered in Australia that offers clearing and trading services to forex brokers and professional investors with more than $50,000 in capital. The company has an additional office in Dublin, Ireland, but is not regulated as a financial institution there.
Baxter-FX was established all the way back in 2012, making it a veteran of the forex trading world by now. As all companies offering forex trading services in Australia, Baxter-FX is regulated by the Australian Securities and Investments Commission (ASIC). Among other things, this means that trading leverage unfortunately is limited to just 1:30 for all clients. However, it also comes with many benefits, such as increased protections for retail users if a broker was to go out of business, for instance.
One thing that should be noted about Baxter-FX is that it only offers forex trading. This is a bit unusual among the brokers we have reviewed here on FX-List, with most other companies offering at least some commodities, stock indices and single stocks in addition to forex. Still, Baxter-FX's offering in terms of forex is fairly strong, with around 100 pairs offered, including almost all major, minor and even exotic currency pairs.
Another noteworthy thing about Baxter-FX is its multi-platform approach. At the time of writing, Baxter-FX allows its clients to choose between the relatively unknown trading platforms Currenex, Hotspot, and FXall. Actions taken on these platforms are then sent back to the broker via straight-through processing (STP) technology, allowing trading accounts at the respective brokers to be updated instantly.
In terms of commissions paid for trading, things are pretty simple with Baxter-FX, with the price depending on the average daily volume traded. The pricing starts with $15 per $1 million traded for daily volumes of between $0 and $25, and goes all the way down to $5 per $1 million for brokers with an average daily volume above $500 million.
In addition to this, Baxter also charges execution fees of $3.90 per $1 million traded through the FXall platform, and $5 per $1 million traded through all other trading platforms.
Trading accounts can be opened in USD, EUR, GBP or AUD.
An area where Baxter-FX truly stands out is in customer support. From its European headquarters in Dublin, the company offers 24 hour phone support to all clients, while the Australian office has phone support available during working hours only. For less urgent matters, email can also be used to contact Baxter's support team.
In conclusion, Baxter-FX in our view stands out as a premium clearing house for forex brokers, with a strong offering in terms of pricing and available instruments. It's also great to see that the broker has a local presence in both Europe and Australia, which are known as two important markets in the forex brokerage industry. It's worth taking note, however, that Baxter-FX is not regulated in the EU, although the ASIC regulation in Australia now comes with more or less the same rules for forex brokers.
