EVERFX
Pros and Cons
Pros
- Regulated by Cyprus Securities and Exchange Commission (CySEC) and Comisión Nacional del Mercado de Valores (CNMV)
- Diverse trading instruments including Forex, stocks, commodities, and cryptocurrencies
- Access to popular trading platforms: MetaTrader 4 and MetaTrader 5
- Multiple account types catering to different trader experience levels
- Educational resources available through EverFX Academy
Cons
- Unclear regulatory status raises concerns
- High minimum deposit requirements for certain accounts
- Varying spreads based on account types
- Reports of pushy account managers
- Limited information on deposit and withdrawal fees
Basic Information
User Reviews
EVERFX Overview
EVERFX is a forex broker established by ICC Intercertus Capital Limited and registered in Cyprus. With an operating period of 5 to 10 years, the broker has garnered attention in the financial trading landscape. While it offers a range of trading services, its regulatory status has raised concerns among potential traders. As it stands, the broker’s claims of being regulated by multiple authorities, including the Cyprus Securities and Exchange Commission (CySEC), have been met with skepticism, leading to mixed perceptions regarding its trustworthiness. For more details, visit their official site at https://www.wikifx.com/en/dealer/1201550431.html.
In terms of trading offerings, EVERFX provides access to various financial instruments, including forex, stocks, and commodities. The broker supports trading through popular platforms such as MetaTrader 4 and MetaTrader 5, allowing for a user-friendly experience with advanced trading tools. Customer support is available through multiple channels including email and live chat, although responsiveness may vary. Unique features that may set EVERFX apart include diverse account types and educational resources aimed at enhancing traders’ knowledge. However, potential clients should proceed with caution and conduct thorough research before engaging with the broker, considering the reports surrounding its regulatory status and overall reputation in the market.
Is EVERFX Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Cyprus Securities and Exchange Commission (CySEC) | Cyprus | Not specified |
| Comisión Nacional del Mercado de Valores (CNMV) | Spain | Not specified |
Is EVERFX Regulated and How Are Client Funds Protected?
EVERFX’s regulatory status is somewhat ambiguous, as it claims to be regulated by multiple authorities, including the Cyprus Securities and Exchange Commission (CySEC) and the Comisión Nacional del Mercado de Valores (CNMV) in Spain. However, there are significant concerns and skepticism surrounding its regulatory claims, leading to mixed perceptions about the broker’s legitimacy. As such, the level of investor protection may not be robust, and potential traders should be aware of the risks associated with trading through a broker that lacks clear regulatory oversight. The absence of specified fund protection measures raises further concerns about the safety of client funds. It is crucial for prospective clients to conduct careful research to understand the implications of EVERFX’s regulatory status before engaging in trading activities.
Trading Products and Services
What trading instruments does EVERFX offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major Pairs / Examples | Varies |
| Commodities | Gold, Oil | Varies |
| Indices | S&P 500, NASDAQ | Varies |
| Stocks | US, UK | Varies |
| Cryptocurrencies | BTC, ETH | Varies |
EVERFX offers a diverse range of trading instruments, allowing traders to access multiple asset categories such as Forex, commodities, indices, stocks, and cryptocurrencies. This variety caters to different trading styles, whether for beginners seeking to explore the markets or professionals looking for advanced trading opportunities. By offering various financial products, EVERFX supports portfolio diversification and flexible trading strategies, enabling clients to adapt to changing market conditions and optimize their investment approaches. Such diversity in trading tools can enhance the trading experience and empower users to make informed decisions across various financial markets.
Account Types and Trading Conditions
What Account Types and Fees Does EVERFX Offer?
| Account Type | Target User Group | Key Characteristics | Applicability Notes |
|---|---|---|---|
| Entry Account | Beginners | Low minimum deposit, higher leverage | Suitable for small-capital practice |
| Standard Account | Intermediate traders | Access to market research, competitive spreads | Requires a moderate initial deposit |
| Premium Account | Experienced traders | Lower spreads, dedicated account manager | Higher deposit requirements apply |
| VIP Account | Professional traders | Zero pip spreads, personalized support | Requires significant capital |
Account Opening Process
To open an account with EVERFX, potential clients must submit personal, employment, and financial information. This includes providing identity verification documents such as a government-issued ID and proof of address. The process is designed to comply with regulatory requirements. Additionally, clients may experience flexibility in upgrading to a professional account at a later stage, should their trading needs evolve.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 1.4 | $0 (for Entry and Standard accounts) | Competitive spreads for beginners |
| Forex (GBP/USD) | 1.1 | $0 (for Entry and Standard accounts) | Attractive for major pairs |
| CFDs (Gold) | 2.3 | $0 | Solid trading option for commodities |
| CFDs (Silver) | 3.3 | $0 | Includes precious metals trading |
| Cryptos (BTC/USD) | Varies | Varies | Dependent on market conditions |
Other Fees
Clients should be aware of various fees associated with using EVERFX. This includes deposit and withdrawal fees that may apply depending on the payment method chosen. Inactivity fees may also be incurred if accounts remain dormant for an extended period. Additionally, overnight interest (swap rates) may apply to positions held overnight, and currency conversion fees might be relevant for accounts dealing with multiple currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does EVERFX Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 4 (MT4) | Windows, macOS, iOS, Android | User-friendly interface, multi-asset trading, algorithmic trading, customizable layouts, 2FA security | Demo accounts available |
| MetaTrader 5 (MT5) | Windows, macOS, iOS, Android | Advanced features, built-in economic calendar, market depth data, multiple order types | VPS services available |
| Web-based Platform | Web browsers (PC & mobile) | Basic trading functionality, easy access, real-time market data | No demo accounts or additional services specified |
EVERFX provides traders with access to multiple robust trading platforms including MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which cater to both beginner and advanced traders through their extensive features and functionalities. MT4 is known for its user-friendly interface and supports customizable layouts and algorithmic trading, while MT5 offers additional advanced tools suitable for traders needing deeper market insights. The web-based platform enables easy access to trading through web browsers, making it convenient for traders on the go. Overall, these platforms support secure logins, fast order execution, real-time alerts, and efficient search tools, enhancing the overall trading experience.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 days | No platform fee | Min 50, Max 20,000 | EUR, USD |
| Credit/Debit Card | Instant | No platform fee | Min 50, Max 10,000 | EUR, USD |
| e-Wallets (e.g., Skrill, Neteller) | Instant | 1.5% charge | Min 50, Max 5,000 | EUR, USD |
| Cryptocurrency | Instant | No platform fee | Min 50, Max 10,000 | EUR, USD |
Minimum Deposit
EVERFX requires a minimum deposit of 50, which is consistent across various payment methods and account types. This accessibility allows traders to start with a manageable amount while exploring their trading options.
How to Withdraw
- Log in to your EVERFX trading account.
- Navigate to the withdrawal section of 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.
- Submit your withdrawal request and wait for confirmation.
- Monitor your account for the processing of the withdrawal, which may take different times based on the selected method.
Customer Support
EVERFX Customer Support Overview
Support Channels
EVERFX offers multiple contact methods to assist clients effectively. These include:
- Email: Clients can reach the support team via email at support@everfxglobal.com for inquiries and assistance.
- Live Chat: Available for real-money traders, this feature allows clients to engage in real-time conversations with support representatives for immediate help.
- Telephone: Clients can call the support team at +13457693071 for direct assistance with their queries.
- Social Media: EVERFX is present on platforms like Facebook and Twitter, providing additional channels for client engagement.
Service Availability
The customer support service is available during trading hours. Multilingual support is offered, enabling communication in various languages to cater to a diverse clientele.
Frequently Asked Questions
EVERFX claims to be regulated by multiple authorities, including the Cyprus Securities and Exchange Commission (CySEC) and the Comisión Nacional del Mercado de Valores (CNMV) in Spain. However, there are significant concerns and skepticism regarding its regulatory claims, leading to mixed perceptions about its legitimacy. Potential traders should exercise caution and conduct thorough research.
EVERFX offers a diverse range of trading instruments, including forex, stocks, commodities, indices, and cryptocurrencies. This variety allows traders to employ different strategies and adapt to changing market conditions.
The regulatory status of EVERFX raises concerns about the protection of client funds, as there are no specified fund protection measures mentioned. Potential clients are advised to conduct thorough research and consider the implications of the broker’s regulatory status before trading.
EVERFX provides multiple support channels for clients, including email support, live chat for real-money traders, and telephone support. While the support team aims to assist clients effectively, responsiveness may vary, and there have been reports of pushy account managers.
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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.