APOLLOFX Information
APOLLOFX provides multiple account types for different levels of traders. However, it is not regulated by any financial authorities. Though APOLLOFX provides two trading platforms, MT4 and Sirix, which is popular among traders, it lacks tansparency even the minimum deposit is not metioned.
Pros and Cons
Is APOLLOFX Legit?
APOLLOFX was founded in Seychelles in 2024. However, it is not regulated by the local financial authority, Seychelles Financial Services Authority (SFSA), which means APOLLOFX doesn't need to obey the rules of authorities.
What Can I Trade on APOLLOFX?
Account Type
There are five account types for ApolloFX: Silver Variable (MT4), Silver Variable (Sirix), Silver fixed, ECN and Gold ECN. The demo account is not mentioned. And the minimum trade size is 0.01. Silver Variable (MT4), Silver fixed and ECN accounts are available on MT4, while Silver Variable (Sirix), Silver fixed and Gold ECN accounts support Sirix platform.
Leverage
ApolloFX's leverage depends on the account types. Only the Gold ECN account has the maximum leverage of 1:100, and the others is 1:200. Bear in mind that the higher the leverage, the greater the risk of losses in excess of initial investments.
Spread & Commisssion
Except the spread of Gold ECN at 0.6 pips, other accounts' spreads are close to 2 pips or 3 pips, which is not competitive in the industry.
Trading Platform
Deposit and Withdrawal
Traders can deposit and withdraw funds through bank wire transfer, credit/debit cards, and e-wallets for free. However, the minimum deposit and withdrawal amount are not mentioned.
Customer Service
The Bottom Line
Overall, ApolloFX is not worth trading. Safety is always the most important thing for traders to choose a broker. However, it is not regulated and lacks much crucial information like minimum deposit and withdrawal. What's more, the spread of ApolloFX is wider than other reputed brokers, which will increase the trading cost.
FAQs
Is ApolloFX safe?
No, valid regulation can make brokers be under control. But ApolloFX doesn't hold any licenses.
Is ApolloFX good for beginners?
No, it is not regulated and has many potential risks.
Does ApolloFX truly offer commission-free trading?
No, Silver Variable (MT4) account needs $10 and Gold ECN account needs 1.5 pips for commission.
