Charter Prime
Direct FX
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Overview
Charter Prime was founded in 2012 and is headquartered in Australia, while Direct FX was established in 2006 and is based in New Zealand. Charter Prime holds licences including Financial Conduct Authority (FCA), while Direct FX is regulated by Unregulated among others. Charter Prime serves 10,000+ clients worldwide; Direct FX has 10,000+. The minimum deposit is $200 at Charter Prime and $1 at Direct FX.
| Feature | Charter Prime | Direct FX |
|---|---|---|
| Min. Deposit | $200 | $1 |
| Regulation | Financial Conduct Authority (FCA) | Unregulated |
| Founded | 2012 | 2006 |
| Country | Australia | New Zealand |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Charter Prime and Direct FX, directly affecting your bottom line as a trader. Direct FX has a lower barrier to entry with a minimum deposit of $1 (vs $200 at Charter Prime). Neither broker charges withdrawal fees. Charter Prime charges deposit fees; Direct FX does not. Overall, Direct FX scores higher on fees in our assessment.
| Feature | Charter Prime | Direct FX |
|---|---|---|
| Min. Deposit | $200 | $1 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | Yes | Yes |
Platforms
Charter Prime offers MT4, MT5, cTrader, while Direct FX supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. The two brokers are closely matched on platform offering.
| Feature | Charter Prime | Direct FX |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MetaTrader 4 | Not available |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Charter Prime and Direct FX compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. Charter Prime scores higher overall in education and research.
| Feature | Charter Prime | Direct FX |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Charter Prime accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Direct FX supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Charter Prime | Direct FX |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Charter Prime and Direct FX offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | Charter Prime | Direct FX |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |