EVERFX

General Information

EverFX is a broker that offers trading services in various financial markets, including forex, stocks, indices, commodities, metals, and cryptocurrencies. The broker provides multiple account types, each with different features and requirements, ranging from the Entry Account to the VIP Account. EverFX operates on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, along with a web-based platform, providing traders with a choice of robust and feature-rich trading environments. The broker offers a range of payment methods for deposits and withdrawals, including credit/debit cards, e-wallets, and online bank transfers.

In terms of regulation, there are mixed indications regarding EVERFX's regulatory status. The broker is regulated by CNMV (Comisión Nacional del Mercado de Valores) in Spain for providing retail forex services. However, there are warnings and suspicious claims associated with the broker from other regulatory authorities, such as CYSEC (Cyprus Securities and Exchange Commission). It is important for traders to exercise caution and conduct further research to fully understand the regulatory status of EVERFX.

EverFX provides clients with educational resources through the EverFX Academy, offering webinars, courses, tutorials, market analysis, and an economic calendar. They also offer customer support through email, live chat, and telephone, although there have been reports of pushy account managers. Traders are advised to approach the broker's customer support with caution and make informed decisions.

Overall, it is important for traders to carefully consider the pros and cons, conduct thorough research, and assess their individual trading needs before engaging with EVERFX.

Pros and Cons

EverFX offers a diverse range of tradable assets and multiple account types to choose from. They provide leverage ratios and a user-friendly trading platform, which is powered by MetaTrader 4 and MetaTrader 5. The availability of Islamic accounts (swap-free) and extensive customer support options are also positive aspects of EverFX. However, it's important to consider the cons as well. EverFX lacks clear regulatory oversight, with mixed information on its regulation status. The broker has high minimum deposit requirements, and the spreads vary based on the type of trading account. The customer support options are limited, and there is no information available on the availability of a demo account. Additionally, the deposit and withdrawal options are also limited. Traders should carefully evaluate these pros and cons before making a decision to trade with EverFX.

Is EVERFX Legit？

Based on the information provided, it appears that EVERFX is a broker regulated by multiple authorities. Here is a breakdown of the regulatory information:

1. European Authorized Representative (EEA): The specific details about this regulation are not mentioned.

2. FCA (Financial Conduct Authority): The broker is listed as “Unsubscribed” with the FCA, indicating that it may not be currently regulated by this authority.

3. Common Financial Service License: The broker has exceeded the regulation by CIMA (Cayman Islands Monetary Authority) with license number 1444866, suggesting that it may operate outside the scope of this license.

4. Retail Forex License: EVERFX is regulated by CNMV (Comisión Nacional del Mercado de Valores), which is the regulatory authority in Spain for financial services. This license indicates that EVERFX is regulated for providing retail forex services.

5. Market Making (MM): The broker is mentioned as a “Suspicious Clone” by CYSEC (Cyprus Securities and Exchange Commission), raising concerns about the legitimacy of its claim to be regulated by this authority.

Based on the information provided, it is important to note that the regulatory status of EVERFX is not clear and may vary depending on the specific authority and license. There are warnings and suspicious claims associated with the broker, so it is recommended to exercise caution and conduct further research before engaging with EVERFX.

Markets Instruments

EverFX provides a wide range of market instruments for trading, offering access to various financial markets. Here are the main categories of instruments available:

1. Forex Trading: EverFX allows clients to trade major, minor, and exotic currency pairs in the Forex market. Traders can engage in currency trading, including popular pairs such as EUR/USD, GBP/USD, and USD/JPY.

2. Stocks Trading: Clients have the opportunity to trade stocks of some of the world's largest companies through EverFX. This includes well-known companies like Facebook, Amazon, and Apple, providing access to the equity markets.

3. CFD Trading: EverFX offers leveraged Contract for Difference (CFD) trading across multiple markets. CFDs allow traders to speculate on the price movements of various underlying assets without owning the actual asset. This provides flexibility and the opportunity to trade in diverse markets.

4. Indices: Traders can participate in trading on leading global indices, such as the Dow Jones, Nikkei 225, and Euro Stoxx 50. These indices represent the performance of a specific group of stocks, allowing traders to speculate on the overall market trends.

5. Metals: EverFX provides the option to trade precious metals, including gold, aluminum, and copper. Trading in metals offers an alternative investment avenue and can be attractive for diversification purposes.

6. Commodities: Traders can engage in futures trading on various commodities offered by EverFX. This includes commodities such as coffee, cotton, and wheat, allowing traders to take positions on price movements in these markets.

7. Cryptocurrency: EverFX offers trading in cryptocurrencies, enabling clients to trade on the price movements of popular digital currencies such as Bitcoin, Ethereum, and Ripple. Cryptocurrency trading has gained significant popularity in recent years.

Pros and Cons

EverFX Minimum Deposit

EverFX offers four different types of trading accounts, each with its own features and requirements based on the initial deposit:

1. ENTRY ACCOUNT: This account requires a minimum deposit of $250. It offers spreads starting at 1.5 pips and leverage of up to 1:500. Traders with an Entry Account can receive an introductory call from an account manager and may be eligible for a bonus of up to 30%.

2. STANDARD ACCOUNT: To open a Standard Account, a minimum deposit of $2,500 is required. This account provides spreads starting at 1.2 pips and leverage of up to 1:500. Traders with a Standard Account have access to an account manager and can benefit from market research and analytics from Trading Central. Additionally, they may be eligible for a deposit bonus of up to 50%.

3. PREMIUM ACCOUNT: The Premium Account requires a minimum deposit of $10,000. It offers spreads starting at 0.8 pips and leverage of up to 1:400. Traders with a Premium Account enjoy the services of an account manager and receive market research and analytics from Trading Central. They may also be eligible for a bonus of up to 100%. Furthermore, Premium Account holders have the opportunity to participate in a monthly session with a senior market analyst.

4. VIP ACCOUNT: The VIP Account is the highest-tier account offered by EverFX and requires a minimum deposit of $50,000. It provides traders with zero pip spreads and charges a commission of $2 to $6 per lot traded. The leverage for a VIP Account is up to 1:200. Traders with a VIP Account receive personalized support from a dedicated account manager and have access to market research and analytics from Trading Central. They can also benefit from a bonus of up to 100%. VIP Account holders have exclusive features such as a weekly session with a senior market analyst, access to exclusive strategies, and assistance in developing a business plan.

Clients can log into their EverFX account through the sign-in tab on the broker's homepage. For more information about the account structure or assistance with deleting a trading account, clients should reach out to the customer support team for further guidance.

Pros and Cons

EverFX Leverage

The maximum trading leverage available on EverFx platform is up to 1:500 for Entry and Standard accounts, 1:400 for Premium accounts, and 1:200 for VIP accounts.

Spreads & Commissions

The minimum spread starts from 1.4 pips on EURUSD for Entry accounts, 1.1 pips on EURUSD for Standard accounts, 0.9 pips on GBPUSD, 2.3 pips on Gold, and 3.3 pips on Silver. The minimum spread for the Premium account is 0.7 pips for EURUSD, 0.8 pips for GBPUSD, 2.5 pips for Gold and 3.0 pips for Silver, while the minimum spread for the VIP account is 0.0 pips for EURUSD, 0.1 pips for GBPUSD, 1.7 pips for Gold and 1.7 pips for Silver. No commission is charged for Forex and metals trading on Entry, Standard, and Premium accounts, while VIP accounts are subject to a fee of $4 per lot.

Trading Platform

EverFX offers traders a choice between two popular trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5), along with a web-based alternative.

MetaTrader 4 (MT4) is a widely recognized and popular trading platform known for its user-friendly interface and extensive features. It supports multi-asset trading, allowing traders to access various financial instruments. MT4 offers customizable layouts, allowing traders to personalize their trading environment. It supports algorithmic trading and provides access to a wide range of downloadable custom indicators and graphic objects. MT4 is available for desktop computers, web browsers, and mobile devices running on Android and iOS.

MetaTrader 5 (MT5) is the successor to MT4 and offers additional features and functionalities. It includes built-in economic calendars, transfers between accounts, market depth data, and unlimited symbols. MT5 also introduces partial order fills, which can be beneficial for managing trade executions. Like MT4, MT5 is a powerful and versatile trading platform available for desktop, web, and mobile devices.

In addition to the MetaTrader platforms, EverFX offers a web-based trading platform. This platform provides a simple and intuitive trading experience accessible anytime and anywhere through a web browser. It offers basic trading functionality and may be suitable for traders who prefer a lightweight and convenient trading solution.

Overall, EverFX provides traders with a choice of robust and feature-rich trading platforms, including MetaTrader 4, MetaTrader 5, and a web-based platform. These platforms cater to the needs of both beginner and experienced traders, offering a range of tools, customizable interfaces, and support for algorithmic trading.

Pros and Cons

Deposit & Withdrawal

EverFX offers a wide range deposit and withdrawal methods, including VISA & MasterCard (for EUR, USD, GBP, no commission for deposits and 3% commission for withdrawals, minimum $3 ), NETELLER, Skrill (for USD, EUR, GBP and AUD, no commission for deposits and 3% commission for withdrawals via NETELLER) and Skrill (for USD, EUR, GBP and AUD, no commission for deposits and 3% commission for withdrawals via NETELLER), GLOBPAY (supporting EUR, USD and GBP, no commission for deposit), Dragonpay (supporting PHP, no commission for deposit, commission for withdrawal depends on the respective bank and intermediary bank), PayR (supports USD, commission for withdrawal depends on the respective bank and intermediary fees), Bank Transfer (no commission for deposits, commission for withdrawals depends on the bank and intermediary bank).

Educational Resources

EverFX offers clients a range of educational resources, including the EverFX Academy with webinars, courses, and tutorials. They provide a newsroom and market analysis section for up-to-date information. Multilingual support is available, and they offer an economic calendar to track important events. These resources aim to enhance traders' knowledge and support their trading decisions.

Customer Support

EverFX offers customer support services to assist clients with their inquiries and concerns. Here are the available customer support options:

1. Email Support: Clients can reach out to EverFX's customer support team by sending an email to support@everfxglobal.com. This allows clients to describe their issues or ask questions in writing. The support team aims to respond promptly and provide assistance through email communication.

2. Live Chat: EverFX offers a live chat option for real-money traders. This means that clients who have registered and deposited funds with EverFX can access the live chat feature. Live chat allows for real-time communication with a support representative, enabling clients to receive immediate assistance and resolve any urgent matters.

3. Telephone Support: Clients can contact EverFX's customer support team via telephone. The provided telephone numbers are 00134 576 955 71 and +357 25 885000. By calling these numbers, clients can speak directly with a support representative and discuss their inquiries or concerns over the phone.

It's important to note that while EverFX provides customer support, there have been reports of account managers being pushy and attempting to persuade traders to make further deposits or move funds to unregulated brokers. Traders should exercise caution and make informed decisions regarding their trading activities.

The customer support team is available during trading hours, and clients can contact them in multiple languages. However, for specific information about instrument-specific opening times, it is advisable to contact the customer support team directly for accurate and up-to-date details.

Conclusion

In conclusion, EverFX is a broker with a mixed regulatory status, as it is regulated by some authorities but has raised concerns and warnings from others. They offer a wide range of market instruments, multiple account types with various features, and leverage options. The broker provides educational resources such as the EverFX Academy, market analysis, and multilingual support. However, it's important to exercise caution due to the unclear regulatory status and reports of pushy account managers. Additionally, specific details regarding deposit and withdrawal methods may vary, and traders should refer to EverFX's official website or contact customer support for accurate information.

FAQs

Q: Is EVERFX a regulated broker？

A: EVERFX is regulated by multiple authorities, including a European Authorized Representative, CNMV in Spain for retail forex services, and CIMA in the Cayman Islands. However, there are some concerns and warnings associated with its regulatory claims, so caution is advised.

Q: What market instruments can I trade with EVERFX？

A: EVERFX provides access to various market instruments, including forex trading with major, minor, and exotic currency pairs, stocks trading of global companies, CFD trading on multiple markets, indices trading, metals trading, commodities trading, and cryptocurrency trading.

Q: What are the different types of trading accounts offered by EVERFX？

A: EVERFX offers four types of trading accounts: Entry Account, Standard Account, Premium Account, and VIP Account. Each account has different features, requirements, and benefits based on the initial deposit amount.

Q: What leverage options are available with EVERFX？

A: Leverage options vary based on the trading account. Entry and Standard account holders can access leverage up to 1:500, Premium account holders can utilize leverage up to 1:400, and VIP account holders have a maximum leverage of 1:200.

Q: What are the spreads and commissions at EVERFX？

A: Spreads vary based on the account type, with tighter spreads for higher-tier accounts. Entry account spreads start at 1.4 pips on EURUSD, while VIP accounts offer zero-pip spreads on EURUSD. Commissions are charged for VIP account holders, ranging from $2 to $6 per lot traded.

Q: What deposit and withdrawal methods does EVERFX offer？

A: EVERFX supports various deposit and withdrawal methods, including credit/debit cards, e-wallets like Skrill and Neteller, and online bank transfers. The availability and fees of specific methods may vary based on the client's location and EverFX's terms and conditions.

Q: Which trading platforms are available at EVERFX？

A: EVERFX offers MetaTrader 4 (MT4), MetaTrader 5 (MT5), and a web-based trading platform. Both MetaTrader platforms are known for their features and versatility, while the web-based platform provides a convenient trading experience accessible through web browsers.

Q: What educational resources are available at EVERFX？

A: EVERFX provides an educational resource called the EverFX Academy, offering webinars, courses, and tutorials. They also offer a newsroom and market analysis section, multilingual support, and an economic calendar to assist traders in making informed decisions.

Q: How can I contact EVERFX's customer support？

A: EVERFX offers customer support through email, live chat (for real-money traders), and telephone support. Clients can send inquiries to support@everfxglobal.com, engage in real-time chat, or call the provided telephone numbers for assistance.