EverFX review: Is it a legit or scam forex broker?

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However, those traders operating outside of the EU jurisdiction will not enjoy the same level of protection from EverFX. The spread is the difference between the bid and sell price of a currency pair, and what the broker charges, and is fundamentally how brokers make a profit. In order for a trader to make a profit or avoid making a loss on a trade, the price must move enough to make up for the cost of the spread. So I decided to withdraw my money but my request was rejected. You also told me that I could withdraw after I have done everything as requested. The fact that my account was run into the ground feels more and more like a scam.

The highest-level account available is the VIP account with a minimum deposit of $30,000. Potential traders should also note that the company reserves the right to charge a maintenance fee without ever specifying the exact amount, and which can rack up fairly high costs over the long term. EverFX(also know as Global.EverFX) is a forex broker with the top forex trading platforms of MetaTrader 5 and MetaTrader 4. Even though, Ever FX broker offers a demo account it is often not recommended. After all, clients start losing real money if they don’t know what they are doing. Must be remembered that the FCA regulator from the UK banned EverFX services in their country.

They have properly been in business since 2017 and they started their operations in Cyprus. They cater for many different languages and their platform is very straightforward to earn and to get started trading. In response to this, the broker received authorization from the Cypress Exchange and Securities Commission for its Limassol based division. CySEC is well reputed and its brokers fall under EU compliance to deliver a number of stringent safety measures.

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Due to these reasons, EverFX proves to be a transparent and reliable broker, willing to promote its services for traders globally. In addition, EverFX offers another platform – ZuluTrade, the market-leading software for copying trades of professional traders. This social trading feature provides huge opportunities for learning, trading, and making a profit. EverFX is an international Forex broker founded in Cyprus in 2016 and provides online trading services to retail and institutional traders with access to more than 130 trading instruments across 6 asset classes. As with currency exchange markets, commodity markets offer different investment opportunities for traders. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of inflation or economic uncertainty.

EverFX Updates

While some are happy with the service, there have been some complaints with the withdrawal process, which is not something most traders will want to risk. EverFX has a very good educational offering no matter what sort of experienced trader you may be. They have regular webinars and seminars that you can choose to improve your education in various aspects of your trading.

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EverFx is a very trustworthy and well established broker company. That provides excellent services for both beginners and experience traders. I would like to publically apologize to EverFx and its senior managers Vincent Akom, and Toba Ade, for my past negative review. I would undeniable recommend EverFx as my primary choice of broker.

Is EverFX a regulated broker?

Forex trading, also called currency or FX trading, involves the currency exchange market where individuals, companies and financial institutions exchange currencies for one another at floating rates. This may be an online, web-based portal, mobile app, a standalone downloadable program, or any combination of the three. The platform may also provide tools for research in addition to tools for order processing. I think forex trading must not be started with under $1000 deposit. Only this deposit size can ensure you can follow some adequate risk management guidelines. Please read Global.EverFX Reviews below and share your live trading experiences with this broker.

Although this broker provided services with a valid license FCA had concerns about the marketing and sales strategy of the broker. At the same time, those were misleading with a high level of pressure without approving withdrawals. An account for experienced traders with a minimum Deposit of $ 10,000 and a narrow spread of 0.8 pips without commissions. Currently, they do not have a minimum withdrawal that you have to make to get your funds. There have been some issues reported by customers with regards to making withdrawals.

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Together with diversified portfolio, EverFX offers high-level support and a commitment to honest and transparent services, while also delivers education and customer support to every signed client. To apply for a swap-free account, clients need to contact the customer support team where they might be asked to provide documentary proof of faith before a swap-free request can be processed. For Muslim traders, EverFX designed swap-free accounts, which act as the same usual trading accounts, but completely free of riba of any kind. An account for novice traders with a minimum Deposit of $ 250 and a spread of 1.5 pips without commissions.

All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information. On the 3 day after when I was trying to reach her she sent me an email and also called me to say she has the COVID 19 virus and she will be away from work and she will turn me over to a new account manager named Ali K. However, based on our finds Cyprus regulated mothercompany ICC Intercertus Capital Ltd now operates new brand Axiance. You may see below an example of some spreads and conditions on rollover below. Axiance helps you expand your portfolio and optimize your trading with an extended range of instruments.

The actual positions om my chart never lined up with the positions and values on my trading platform. EverFX offers investors access to the most popular tradable instruments in the financial markets, mainly Forex, stocks, indices, energies, metals, commodities, and cryptocurrencies. The Company has provided you with the access to trading platform and fulfilled all the obligations. Trading CFDs and FX Contracts is highly speculative, involves a significant risk of loss and is not suitable for all investors. Tiwonge gave us bad trades after bad trades until we had lost over $7,000.00 USD leaving us with just over $400.00 USD.

EverFX Reviews

Their prices are competitive however and they are rapidly growing their business year on year. In general, MT4 is widely present among trading companies due to its high reliability and available features. EverFX offers access to MT4 and on the rebranded company even MT5. Thus, this is a reliable trading platform with advanced indicators, charting options, social trading tools and many more.

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ForexPeaceArmy.com has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up. We are committed to the fair handling of reviews and posts regardless of such relations. Nevertheless, my experience with EverFX is satisfactory and I don’t have much of the other concerns regarding thier service. So today vryday I again wanted to with draw my money and found a suprise of only $7 left in my account. And no risk management was visible, again not good trading practice.

ALL FOREX BROKERS

The Company indeed is interested in trading volume created by traders, but the Company does not generate any profit from losses. Please be aware that due to our Regulator requirements and relevant legislation, all conversations between the Company and clients are recorded. Also you can track the history of your trades and transactions in your personal customer’s area at any time.

On the other hand, all of those are speculations but it raises concerns. For those of you who want to open an account with EverFX, you can always give it a shot by using a demo account first. After you test their services on your demo account, you can proceed with the opening of a standard account with as little as 250. At the same time, EverFX provides risk management educational resources, so traders will learn how to manage risk more efficiently. Through ebooks, videos, and webinars, clients can learn how to use stop-loss, trailing stops, and place pending orders. It is, therefore, safe to say that this broker is committed to the highest regulatory standards.

This everfx is also known for providing diversified trading offers, covering a wide range of markets, multiple trading account types, a variety of payment methods, swap-free accounts, as well as Zulu trade. Additionally, EverFX provides access to educational resources for traders wanting to learn how to trade. EverFX provides an efficient and reliable trading environment to traders of all experience levels, across the globe. The company supports clients through their trading journey with the most competitive trading conditions including tightest spreads, ins… EverFX offers excellent training and research tools in a competitive trading environment with a tailored suite of accounts.

  • Crypto4Winners is a fully licensed platform regulated by the Swedish Financial Intelligence Unit.
  • Ali gave us his skype contact and told us he don’t care what we do with our money and he is going to block me from his skype.
  • The demo account only comes with 23 major currency pairs and two CFDs on silver and gold.

Unfortunately, some of the T&Cs like maintenance fees and additional charges are not available. Whereas many Tier 1 regulated companies have everything transparent. Generally speaking, all e-payment options, cards and online bank transfers are allowed. However, we always advise clients to use cards in the beginning.

They have somewhat of a conservative or traditional offering. EverFX is lacking the likes of crypto CFDs which are popular with many other modern brokers. The EverFX Academy provides courses from basic to advanced levels, which consist of a number of learning devices, such as live webinars, personal tutoring with one the company’s mentors and trading courses. The broker also offers an economic calendar which scans upcoming data releases and filters them according to the user’s preferences and strategy, from regions relevant to their forex trade. The company does make all of its legal documentation available on its website, which is an added level of transparency which some other brokers do not provide.

Ivan was to hook us in, Tiwonge was to gain our trust so she could control our https://forexhero.info/. Because we needed the money and trusted her we cancelled the withdrawals time and time again. The minimum deposit which will allow you to start with a Standard account requires only 250$ as the very beginning. Higher account types will demand more money, yet with a quite reasonable amount the first level account remaining at your disposal.

Classic account with a minimum Deposit of $ 2500 and a spread of 1.2 pips without commissions. They only started offering brokerage services in 2017, so they may still have a lot of teething issues that can be ironed out before you open an account with them. Overall, there are some distinct pros and cons when it comes to EverFX. They are somewhat conservative with their offering of investment products, but they do have plenty of options for you to choose from. No matter what type of account you are suing at EverFX, you are going to be dealing with the same types of variable spreads. These are normally fairly tight but you do need to deal with commission fees.

The EverFX MT4 has all the well-known features and enables traders to use EAs or create some of their own. Reliability is one of EverFX’s priorities, which is why the broker continues to provide the reputable MetaTrader 4 as its base trading software. With four different versions (Desktop, Android, iOS, and Web-based) customers can have this trading software on any device and thus be connected to the markets at any point in time, no matter their location. Here’s your opportunity to earn a passive and steady income by investing in reliable Bitcoin and Ethereum pools. Transparency is critical as Crypo4Winners allows investors to track the daily valuation of their investments and performance.

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Concern regarding the company’s regulation surrounded its offshore status in recent years, which compelled the company to restructure its regulation to come under the authority of European regulators. EverFX is a very new broker, which was established in 2016 by ICC Intercertus Capital Limited. The company has headquarters in Limassol, Cyprus, and global headquarters in the Grand Cayman Islands. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. Please come back often as broker services are very dynamic and can improve or deteriorate rapidly. And that is why I selected a brokerage company with a powerful set of analytics and review articles.

I LOST £25000 POUNDS

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  • Finally, they are MiFID compliant and have cross border services throughout Europe.
  • Given that this broker has a valid trading license they should comply with all their T&Cs.
  • It is, therefore, safe to say that this broker is committed to the highest regulatory standards.
  • I also liked the fact that a brokerage usually doesn’t postpone withdrawals and doesn’t charge any additional commissions or fees.
  • According to research in South Africa, EverFX is an international online broker built on diversity, flexibility, transparency and open, reasonable pricing structures.
  • Therefore, traders find it unattractive since they don’t offer that high level of security and reliability.

For instance, you can always file a chargeback in case something goes wrong. As has been noted, the broker charges a commission for any withdrawal except for bank transfers. As can be seen in EverFX reviews, out of 180 comments on Trustpilot, roughly 65% are 1-star rated. Many of those clients are coming from countries like the United Kingdom, Canada, Australia, Spain and France. Frequently these customers were complaining about withdrawals.

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However, before making a final choice, we recommend that you read the reviews of EverFX and see the rating of Forex brokers. The minimum Deposit that will allow you to start trading at the initial level of the account is$250. The EverFX offer includes such instruments as Forex and CFD currency pairs, stocks of major brands, indices of Europe, Asia, Australia and the United States, metals, commodities and cryptocurrencies. They also have the relevant permission to be able to offer some of their investments to those in the United Kingdom.