Euroxx
Pros and Cons
Pros
- Multiple customer support channels
- Wide range of services for private and institutional investors
- Established in 1993 with extensive industry experience
- User-friendly Z-Trade trading platform
- Investment banking and research services offered
Cons
- No valid regulatory oversight
- Limited information on trading fees
- No demo accounts available
- Uses proprietary Z-Trade platform only
- Limited account details provided
Basic Information
User Reviews
Euroxx Overview
Euroxx is an unregulated forex broker founded in 1993 and headquartered in Greece. With a focus on providing services for both private and institutional investors, Euroxx offers wealth management and online transaction services for individuals, alongside research and analysis and investment banking for institutions. The absence of regulation raises concerns about the trustworthiness of the broker, as it lacks oversight from recognized financial authorities, which is essential for ensuring trader protection and safety in the forex market.
Is Euroxx Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| No Regulation | Greece | None |
Is Euroxx Regulated and How Are Client Funds Protected?
Euroxx is currently not regulated by any recognized financial authority, which raises significant concerns regarding the safety of client funds. Trading with an unregulated broker like Euroxx exposes investors to higher risks, including a lack of investor protection and increased potential for fraud. Investors should be cautious as there are no safeguards such as segregated accounts or compensation schemes in place to protect their funds.
Trading Products and Services
What trading instruments does Euroxx offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, Major & Minor Pairs | Many |
| Commodities | Gold, Silver, Crude Oil, Natural Gas | Varies |
| Indices | S&P 500, NASDAQ, FTSE 100, DAX | Varies |
| Stocks | US (Apple, Tesla), UK (BP, Vodafone) | Many |
| Cryptocurrencies | BTC, ETH, XRP, LTC | Varies |
Euroxx offers a diverse range of trading instruments across multiple asset categories, including Forex, commodities, indices, stocks, and cryptocurrencies. This variety caters to different types of traders, from beginners seeking to trade major Forex pairs to professionals looking to invest in stocks or commodities. By supporting multiple asset categories, Euroxx allows traders to diversify their portfolios and adapt their strategies according to market conditions. This flexibility is essential for both short-term traders and long-term investors, providing them with the tools they need to navigate the complexities of the financial markets effectively.
Account Types and Trading Conditions
What Account Types and Fees Does Euroxx Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners and casual traders | Low initial deposit, user-friendly platform | Suitable for small-capital practice |
| Professional Account | Experienced traders and high-volume investors | High leverage, reduced spreads | Requires trading volume qualifications |
| Corporate Account | Corporate clients and institutions | Customized services, dedicated account management | Requires corporate documentation |
| Islamic Account | Traders seeking compliance with Sharia law | Swap-free options available | Must provide relevant certifications |
| Demo Account | New traders for practice | Virtual funds for risk-free trading | No real market exposure, limited time access |
Account Opening Process
To open an account with Euroxx, interested traders should follow these steps: first, submit personal information, including full name, email address, and contact number. Next, provide employment details, such as occupation and employer information. Financial information, including income and trading experience, is also required. After completing these sections, traders must undergo identity verification by submitting a copy of their ID and proof of address. The process allows for flexibility, as users can upgrade to a professional account in the future based on their trading activity and qualifications.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $3.5/lot) | Tight spreads for major pairs |
| CFDs (Stocks) | 1.5 | $0 (ECN: $4/lot) | Varied based on stock volatility |
| CFDs (Indices) | 1.2 | $0 (ECN: $3/lot) | Competitive pricing for major indices |
| CFDs (Commodities) | 2.0 | $0 (ECN: $5/lot) | Spreads can widen in volatile markets |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on market conditions |
Other Fees
Traders should also be aware of additional fees that may apply: deposit and withdrawal fees may vary depending on the payment method chosen. Inactivity fees can be charged if an account remains dormant for an extended period. Platform usage fees might apply, and overnight interest (swap rates) is incurred for positions held overnight. Additionally, currency conversion fees may apply when trading in currencies different from the account’s base currency.
Trading Platforms and Apps
What Trading Platforms and Apps Does Euroxx Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| Z-Trade | Web, Windows, macOS | Login Security: Encryption, Market Search: Symbol Lookup, Order Types: Multiple Order Types, Alert Features: Price Alerts, Other Tools: Technical Indicators | No Demo Accounts, No VPS, API Interface Not Specified |
| MT4 | Windows, macOS | Login Security: 2FA, Market Search: Symbol Lookup, Order Types: One-Click Trading, Alert Features: Push Notifications, Other Tools: Economic Calendar | No Demo Accounts, No VPS, API Interface Not Specified |
| MT5 | Windows, macOS | Login Security: 2FA, Market Search: Symbol Lookup, Order Types: Multiple Order Types, Alert Features: Real-Time Alerts, Other Tools: Advanced Charting Tools | No Demo Accounts, No VPS, API Interface Not Specified |
Euroxx provides various trading platforms, including Z-Trade, MT4, and MT5, each catering to different trading needs. Z-Trade is accessible via web and desktop, ideal for users looking for a straightforward interface with essential trading tools. MT4 and MT5, available on desktop, cater to both beginner and experienced traders, offering advanced features like one-click trading and multiple order types. Euroxx emphasizes secure logins and efficient market search tools across its platforms, ensuring traders can operate effectively in real-time.
Overall, Euroxx’s platforms support mobile trading and provide fast order execution, although users should note the absence of demo accounts and additional services like VPS and API access.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| SEPA Transfer | 1-3 business days | No platform fee, 0.5% for amounts over €5,000 | Min €100, Max €50,000/day | EUR, USD |
| GrabPay | Instant | No fees | Min $20, Max $5,000/day | USD, SGD |
| SPEI | Instant | No platform fee | Min MXN 500, Max MXN 100,000/day | MXN, USD |
| Bank Wire Transfer | 3-5 business days | $20 for international transfers | Min $100, Max $30,000/day | USD, EUR |
| Cryptocurrency | Instant | No fees | Min $50, Max $10,000/day | BTC, ETH |
Minimum Deposit
The minimum deposit requirement at Euroxx is $100. This amount is standard across all payment methods and account types, ensuring accessibility for all traders.
How to Withdraw
- Log in to your Euroxx account.
- Navigate to the ‘Withdrawal’ section in the account dashboard.
- Select your preferred withdrawal method from the available options.
- Enter the amount you wish to withdraw, ensuring it meets the minimum and maximum limits.
- Confirm your withdrawal request.
- Check your email for confirmation and updates regarding your withdrawal status.
Customer Support
Euroxx Customer Support Overview
Support Channels
Euroxx offers multiple customer support channels to assist clients effectively. You can reach out to them via:
- Email: Send your inquiries to info@euroxx.gr. The support team is responsive and aims to resolve issues promptly.
- Live Chat: Although a live chat feature is not explicitly mentioned, clients are encouraged to use email for quick responses.
- Telephone: For immediate assistance, you can call +30 210 6879400, where customer service representatives are available to help.
- Social Media: Euroxx maintains a presence on platforms like Facebook and LinkedIn, providing another avenue for support and updates.
Service Availability
Euroxx’s customer service operates during standard business hours, 24/5, ensuring that help is available during the trading week. Multilingual support is available, catering to a diverse clientele, with assistance offered in Greek and English.
Additional Resources
To further enhance customer experience, Euroxx provides educational resources, including:
- Video tutorials to help users navigate the trading platform.
- Webinars focused on market analysis and trading strategies.
- Market analysis reports that keep traders informed about current trends.
- Trading signals to assist in making informed decisions.
Frequently Asked Questions
Euroxx currently operates without any valid regulatory licenses. This means it is not subject to oversight by any financial regulatory authority, which may increase the risks associated with trading through this broker. Clients are encouraged to exercise caution and thoroughly research before engaging in transactions.
Euroxx provides limited information on its trading conditions and fees. Clients should directly contact their customer service for detailed information regarding spreads, commissions, and any potential hidden fees to make informed trading decisions.
As Euroxx lacks regulatory oversight, there are no standardized protections in place for client funds. It is recommended that clients take extra precautions, such as withdrawing profits regularly and only investing what they can afford to lose.
Euroxx offers a variety of services including wealth management for private investors and research and analysis for institutional clients. However, the lack of a demo account and limited information on their trading platform (Z-Trade) may affect the overall user experience. Clients should consider these factors before signing up.
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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.