General Information & Regulation
EKOL FX, a trading name of EKOL GLOBAL MARKETS LTD, is allegedly a suspicious regulated forex broker registered in the UK that claims to provide its clients with over 700 tradable financial instruments with leverage up to 1:500 and variable spreads on the worlds most trusted and popular MetaTrader4 trading platform, as well as a choice of seven different account types and 24/7 live support.
Market Instruments
EKOL FX advertises that it offers more than 700 trading instruments in financial markets, including forex, spot metals, indices, spot commodities, cryptocurrencies, US Shares, EU Shares, ASIA Shares and Russian Shares.
Account Types
Apart from the one-month free demo account with $10,000 virtual money, there are seven live trading accounts offered by EKOL FX, namely Standard, Silver, Gold, Platinum, VIP, ECN and Small. However, information about the minimum initial deposit amount to open a live account is not specified without a login.
Leverage
A leverage ratio of up to 1:500 is offered by EKOL FX, which is much higher than that provided by most brokers. Inexperienced traders are advised not to use too much leverage since leverage magnifies gains and losses.
Spreads & Commissions
From the available information on EKOL FXs official site, we understand that the spread for the benchmark EUR/USD starts from 0.3 pips. Other specific information about spreads can be found in the below screenshot. As for commissions, the broker charges different account types different commissions. For example, the commission is $10 for the Standard account; $8 for the Silver account; $6 for the Gold account; $4 for the Platinum account; $2 for the VIP account and $1 for the ECN account. In contrast, for the Small account, there is no commission for forex and metals, while other asset classes are subject to a $10 commission
Trading Platform Available
The platform available for trading at EKOL FX is the industry-standard MetaTrader4 trading platform, available on Web trader, PC and mobile apps compatible with Android and iOS terminals. The following first screenshot is the interface of the MT4 Web Trader.
In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Trading Hours
Different tradable asset classes at EKOL FX have different trading hours. In particular, forex trading at 00:00- 23:59; metals trading at 01:00-23.58; cryptocurrency trading at 24/7; USA Shares trading at 16:30-22:59; EU Shares and Russia Shares trading at 10:00-18:29; Asia Shares trading at 04:30-10:59; stocks and commodities trading at 01:05-23:55.
Deposit & Withdrawal
EKOL FX says to work with 70+ payment methods, consisting of bank transfers, Papara, Payoneer, Neteller, Skrill, WebMoney, Payeer, crypto wallets of Bitcoin, Ethereum, Litecoin and more.
Bonuses
EKOL FX claims to offer a bonus for every investment. And according to the amount of assets you transfer, the bonus can be up to 40%, yet we have no way to understand if these bonuses can be withdrawn without any conditions.
Customer Support
EKOL FXs customer support can be reached by WhatsApp: +357 96769805, email: info@ekolfxglobal.com or fill in Contact Form online to get in touch. Besides, you can also follow this broker on some social media platforms such as Twitter, Facebook, Instagram and YouTube. Company address: Suite 305, Griffith Corporate Center, Beachmont, Kingston. ST VINCENT AND THE GRENADINES.
