Fundovix
Pros and Cons
Pros
- Focus on cryptocurrency trading
- Multiple account types available
- Minimum deposit starting at €10,000
- Telephone customer support
- Web-based trading platform accessible on various devices
Cons
- No regulation or oversight from recognized financial authorities
- Limited trading instruments; only cryptocurrencies available
- No availability of popular trading platforms like MT4 or MT5
- High minimum deposit requirement of €10,000 for account opening
- Customer support limited to telephone; no email or live chat options
Basic Information
User Reviews
Fundovix Overview
Fundovix is a forex broker founded in 2024 and registered in the United Kingdom. With an operating period of 1-2 years, the broker currently lacks valid regulatory oversight. This absence of regulation is a significant factor for potential traders to consider, as it may entail higher risks associated with trading activities. The broker’s official website can be found at https://www.wikifx.com/en/dealer/2751863164.html, providing essential information about its services and operations.
As a trading platform, Fundovix specializes in cryptocurrency trading, offering various account types with a minimum deposit requirement starting at €10,000 for the Bronze Account. While the broker claims to provide diverse account options, it notably lacks the availability of popular trading platforms like MetaTrader 4 or 5. Customer support is accessible via phone, ensuring assistance for traders during business hours. However, the absence of regulation and limited trading products are critical aspects that potential clients should weigh carefully when considering their options in the forex market.
Is Fundovix Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| No Regulation | United Kingdom | No investor protection measures available |
Is Fundovix Regulated and How Are Client Funds Protected?
Fundovix is not regulated by any recognized financial authority, which presents significant risks for traders. The absence of regulation means there are no formal investor protection mechanisms in place, increasing the likelihood of fraud or mismanagement of client funds. Potential clients should carefully consider these risks before engaging in trading activities with Fundovix.
Trading Products and Services
What trading instruments does Fundovix offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | No Forex products available | |
| Commodities | No Commodities available | |
| Indices | No Indices available | |
| Stocks | No Stocks available | |
| Cryptocurrencies | Various cryptocurrencies | Many |
Fundovix primarily focuses on cryptocurrency trading, offering a selection of various cryptocurrencies to its clients. The absence of Forex, commodities, indices, or stocks means that traders looking for diversity in asset classes may find limited options. However, for those specifically interested in the cryptocurrency market, Fundovix provides a platform to engage in this dynamic sector. The platform’s structure is designed to cater to both novice traders and more experienced individuals looking to explore cryptocurrency trading opportunities. By offering multiple cryptocurrencies, Fundovix supports flexibility in trading strategies, which can be especially valuable for portfolio diversification in the ever-evolving cryptocurrency landscape.
Account Types and Trading Conditions
What Account Types and Fees Does Fundovix Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Bronze Account | Beginner traders | Minimum deposit of €10,000 | Suitable for small-capital practice |
| Silver Account | Intermediate traders | Minimum deposit of €25,000 | Requires trading volume qualifications |
| Gold Account | Experienced traders | Minimum deposit of €50,000 | Focus on portfolio diversification |
| Platinum Account | Advanced traders | Minimum deposit of €100,000 | Eligible for higher trading limits |
| Diamond Account | Professional traders | Minimum deposit of €250,000 | Requires extensive trading experience |
| Premium Account | Corporate clients | Minimum deposit of €500,000 | Requires corporate documentation |
| VIP Account | High-net-worth individuals | Minimum deposit of €1,000,000 | Exclusive services tailored for elite traders |
Account Opening Process
To open an account with Fundovix, interested traders must follow a structured process. Initially, they will need to submit personal information, which includes their name, contact details, and date of birth. Following this, they must provide employment and financial background information to establish their trading profile. As part of the registration, identity verification is required, necessitating the submission of a valid ID and proof of address. Once these steps are completed, traders can proceed with account activation. Additionally, Fundovix offers account flexibility, allowing users to upgrade to a professional account as their trading experience and capital grow.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | No Forex products available | No commission | Forex trading not offered |
| CFDs (stocks, indices, commodities) | No CFDs available | No commission | CFDs not available |
| Cryptos (BTC/USD) | Variable | No commission | Spreads vary based on market conditions |
Other Fees
Fundovix may impose various fees on its clients, including deposit and withdrawal fees, which can vary based on the payment method chosen. Inactivity fees may apply if accounts remain dormant for extended periods. Additionally, there could be platform usage fees, although specific details are not mentioned. Overnight interest, or swap rates, may be applicable based on the trading positions held overnight. Lastly, currency conversion fees might be incurred for transactions involving different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does Fundovix Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| Web Version | Windows, macOS | Secure login, market search, multiple order types, price alerts | No demo accounts |
| Mobile App | iOS, Android | Convenient login, push notifications, symbol lookup | No demo accounts |
| MT4/MT5 | Not available | N/A | N/A |
Fundovix offers a web-based trading platform that is accessible on both Windows and macOS devices, providing essential features such as secure login, market search capabilities, and various order types. The mobile app enhances trading convenience, allowing users to log in easily and receive real-time alerts through push notifications. However, it is important to note that Fundovix does not offer MT4 or MT5 platforms, which are commonly used by many traders. The broker’s focus on cryptocurrency trading is complemented by its support for secure logins, quick order execution, and efficient search tools.
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 €10,000, Max €1,000,000 | EUR |
| Cryptocurrency | Instant | No platform fee | Min €10,000, Max €5,000,000 | BTC, ETH, LTC |
Minimum Deposit
Fundovix requires a minimum deposit of €10,000 to open a Bronze Account. This requirement is consistent across all payment methods and does not vary by account type or region.
How to Withdraw
- Log in to your Fundovix account.
- Navigate to the ‘Withdrawal’ section of the platform.
- Select your preferred withdrawal method (Bank Transfer or Cryptocurrency).
- Enter the amount you wish to withdraw, ensuring it meets the minimum withdrawal limits.
- Submit your request for processing.
- You will receive a confirmation once your withdrawal is initiated, and the funds will be processed according to the specified timeline.
Customer Support
Fundovix Customer Support Overview
Support Channels
Fundovix provides customer support primarily through telephone contact. Traders can reach out to the support team by calling +44 2036683426 for assistance with their inquiries. Currently, Fundovix does not offer email or live chat support, which may limit the options for contact. The absence of social media support channels also means that direct communication is somewhat restricted.
Service Availability
Customer service is available during business hours, although specific hours of operation are not detailed. It is essential for clients to consider this when seeking support. Additionally, Fundovix does not mention the availability of multilingual support, which could impact non-English speaking clients.
Frequently Asked Questions
Fundovix is not regulated by any recognized financial authority, which poses significant risks for traders. There are no formal investor protection measures in place, increasing the likelihood of fraud or mismanagement of client funds. Potential clients should consider these risks carefully before engaging in trading activities with Fundovix.
Fundovix primarily focuses on cryptocurrency trading, offering a selection of various cryptocurrencies. However, it does not provide Forex, commodities, indices, or stocks, which may limit options for traders seeking diversity in asset classes.
To open a Bronze Account with Fundovix, a minimum deposit of €10,000 is required. This deposit requirement is consistent across all payment methods and does not vary by account type or region.
Fundovix provides customer support primarily through telephone contact. Traders can reach the support team by calling +44 2036683426. However, there are no email or live chat support options available, which may limit communication for clients.
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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.