EuropeFX Review 2018

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EuropeFXReview

EuropeFX Review

EuropeFX is a newly established forex and CFDs brokerage, owned and operated by Maxiflex Global Investments Corp Limited. They are based in Cyprus, and their head office is located at #46 Ayiou Athanasiou Ave., First Floor, Office 102, 4102 Ayios Athanasios, Limassol.

Operating on a “Straight Through Processing” (STP) business model, EuropeFX aims to offer the broadest possible range of products and services to its clients while endeavoring to maintain the highest standard of quality. EuropeFX also understands that their clients all have different needs and as such, try to maintain a close personal relationship with all of them.  By doing so, EuropeFX hopes to gain the trust and confidence of all their traders and a solid foothold in the industry.

This can be seen in their excellent Trader Education resources which include a comprehensive library of trading related EBooks, Multimedia and an interactive Economic Calendar as well as their daily signals service. This is provided through their collaboration with Trading Central and is available daily to all funded account holders in three languages, English, German and Italian.

EuropeFX Video Review

EuropeFX Regulations

As a CIF (Cyprus Investment Firm), EuropeFX falls under the jurisdiction of the Cyprus Securities Exchange Commission (CySEC). EuropeFX’s CySEC authorization was issued to Maxiflex Global Investments Corp Limited under CIF license number 258/14. EuropeFX is compliant with MiFID (Markets in Financial Instruments Directive) allowing the cross-border of financial services within the European Union under a common regulatory framework.

An extra level of security is provided through the use of segregated accounts, meaning trader funds are kept separate from any of the company’s corporate resources. Also as a CySEC regulated broker, EuropeFX is also a member of the Investor Compensation Fund (ICF) scheme. Established by the Central Bank of Cyprus, the ICF scheme acts as a safety net for retail investors if their broker is unable to meet their financial obligations towards them.

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EuropeFX Reliability

With regards to EuropeFX’s reliability, the broker is fully authorized and licensed by a regulatory agency. This means EuropeFX is required to operate by a set of strict guidelines to ensure transparency and fairness in its dealing with traders. Regular audit reports conducted by an independent auditor are submitted to CySEC to ensure full compliance of all regulatory requirements.  To support the needs of its traders, EuropeFX’s support desk is available on a 24/5 basis. Security wise, transactions on the EuropeFX’s platform are secured with 128-bit encryption.

EuropeFX Trading Platforms

The main trading platform provided by EuropeFX to its clients is the excellent MetaTrader 4 (MT4).  Developed by MetaQuotes Software, the MT4 trading platform is generally regarded as the online forex industry’s standard trading platform due to its extensive adoption rate.  Known to be robust and reliable, many traders prefer the MT4 trading platform due to the numerous trading tools that come integrated with the trading platform.

For example, the platform features a comprehensive charting package which allows traders to analyze the price movements in the market properly. The trading platform is also user-friendly and customizable. Perhaps the feature which most traders love about the MT4 platform is its ability to support automated trading. Those who are good at programming can also use the built-in MQL4 language to write their own Expert Advisors scripts.

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The popularity of MT4 has seen the creation of a global community of traders using the platform and an extensive library of commercially available EAs (Expert Advisors) which can be used by traders.

TradeWorks

To enhance the trading abilities of their traders even further, EuropeFX also provides their traders with access to the TradeWorks platform. TradeWorks is a cloud-based trade automation software that opens and closes trades based on the trading strategies defined by the user. These trading decisions are based purely on trading signals generated by technical indicators, taking the emotional aspect of the trading process completely out of the picture.

TradeWorks comes with a very user-friendly interface and includes a back-testing feature, allowing any trader developed strategies to be back-tested for accuracy against real historical data. The software can also be connected to a demo trading account for further testing in a no-risk environment.

EuropeFX Mobile Trading

EuropeFX has also provided the MT4 platform as a trading app for smartphones and mobile devices. The mobile version of the MT4 platform has the same functionalities and capabilities as the desktop version. Mobile traders not only can trade the financial markets directly from their smartphones but also check their trading account status.

With the mobile trading app, traders will no longer be confined to their desktop computers. The mobile trading app is provided free and can be downloaded, from Google Playstore and Apple’s App Store.

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EuropeFX Web-Based Trading

A web-based version of MT4 is also offered to EuropeFX traders. This is based on the HTML5 protocol, ensuring compatibility with all major browsers and operating systems.

It’s worth noting here that all versions of MT4 provided by EuropeFX can be synced with your account, so no matter what version of the platform you’re using, you always have an up-to-the-minute view of your trading.

EuropeFX Trade Types/Instruments

One of EuropeFX’s primary concerns has been to provide its clients with the widest range of assets to trade. Seeing the number of assets that are covered by EuropeFX, we can see that the broker takes its client service seriously.  With EuropeFX, you will have access to more than 200 different types of assets covering the forex market, CFDs market, indices market as well as the equity market. At present, there are 51 currency pairs, 86 stocks, 17 types of commodities and 28 types of indices and futures available to trade.

CryptoCurrencies are also expected to be added to the available assets as soon as the regulatory framework for these has been finalized by CySEC although these are not currently available to traders.

EuropeFX Account Types

There are five different types of trading accounts currently available at EuropeFX. They consist of the Bronze account, Silver account, Gold account, Platinum account and the Premium account.

Bronze Account

  • Initial Deposit: €200
  • Demo Account: Yes
  • Execution: STP/NDD
  • Margin Call: 60%
  • Maximum Leverage: 1:200
  • Micro Lots: Yes

Silver Account

  • Initial Deposit: €2,500
  • Demo Account: Yes
  • Execution: STP/NDD
  • Margin Call: 60%
  • Maximum Leverage: 1:200
  • Micro Lots: Yes

Gold Account

  • Initial Deposit: €5,000
  • Demo Account: Yes
  • Execution: STP/NDD
  • Margin Call: 60%
  • Maximum Leverage: 1:200
  • Micro Lots: No
  • VIP Services: Yes

Platinum Account

  • Initial Deposit: €10,000
  • Demo Account: Yes
  • Execution: STP/NDD
  • Margin Call: 70%
  • Maximum Leverage: 1:200
  • Micro Lots: No
  • VIP Services: Yes

Premium Account

  • Initial Deposit: €25,000
  • Demo Account: Yes
  • Execution: STP/NDD
  • Margin Call: 100%
  • Maximum Leverage: 1:200
  • Micro Lots: No
  • VIP Services: Yes

Opening a live trading account at EuropeFX is a simple 4 step process. First, register for a trading account with EuropeFX.  Next, verify your identity by submitting all the required documents. After you have confirmed your account details, the next step is for you to fund your trading account. Once you have deposited funds into your trading account, you can begin trading immediately.

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EuropeFX Commissions & Spreads

In terms of trading costs, EuropeFX charges its clients a mix of commissions and spreads.  The commissions are denominated in pips and start from 2 pips per lot for the bronze account, 1.5 pips per lot for the silver account and one pip per lot for the gold account. For platinum and premium account holders, the commission payable is lower than one pip per lot. As for the applicable spreads, the minimum spread starts from as low as 0.1 pips. The following table below shows some of the typical spreads which you can expect from EuropeFX.

Instrument

Spreads (in pips)

EUR/USD As Low As 0.1 pips
USD/JPY As Low As 0.1 pips
GOLD As Low As 0.1 pips
SILVER As Low As 0.1 pips
Crude Oil As Low As 0.1 pips
Corn As Low As 0.1 pips
CAC Index As Low As 0.1 pips
DAX index As Low As 0.1 pips
Amazon As Low As 0.1 pips
Google As Low As 0.1 pips


EuropeFX Deposits & Withdrawals Options

EuropeFX prides itself in maintaining the safety of the clients’ funds. All payments details are encrypted and secured to ensure the safety and integrity of their clients’ financial details.  Also for the convenience of their clients, EuropeFX supports several funding methods such as bank wire transfers, VISA, Mastercard and e-Wallets like Skrill, Neteller, Sofort and iDeal. All these methods can be used to either fund a trading account or to make a withdrawal. There are no fees for the deposit of funds. As for withdrawal by bank wire transfer, a 25 EUR service is applicable. Processing of withdrawal requests typically takes up to one business day. However, it may take up to 5 business days before the funds clear in your bank account.

EuropeFX Promotions

EuropeFX currently offers two promotions.

The first is the Commission Free account with no commissions applied to your trades, according to the details below:

Deposit Amount

Period of Commission Free Trading

From $1,000 – $5,000 7 business days
From $5,000 – $10,000 14 business

This is a great way to magnify trading profits, particularly for high-frequency traders who open and close a lot of trades. These commission-free trades soon add up to a considerable amount saved.

The second is their recently launched Tell-A-Friend programme whereby participants can earn a $200 fee for every verified account they refer to the broker.

EuropeFX Customer Support

Traders with EuropeFX will be very pleasantly surprised by the comprehensive support options open to them. Available 24×5, the EuropeFX customer support team can be reached via telephone, email or online chat. There is also the option to request a call-back directly from the broker’s website.

The website, along with all the support options is available in English, German and Italian. We found the EuropeFX support department to be very responsive, courteous and above all highly professional, able to handle even the most complex questions about their trading environment.

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Pros

  • Choices of Trading Platforms
  • Comprehensive education center
  • Access to Trading Central resources
  • Multiple choices of trading accounts
  • Over 200+ underlying assets
  • Wide range of deposit/withdrawal options
  • Highly professional support

Cons

  • No support for Asian languages

EuropeFX Q&A

  • Is EuropeFX regulated?

Yes, EuropeFX is a regulated broker under the oversight of the Cyprus Securities Exchange Commission.

  • Where is EuropeFX based?

EuropeFX is based in Cyprus. Its head office is situated at 46 Ayiou Athanasiou Ave., First Floor, Office 102, 4102 Ayios Athanasios, Limassol.

  • How does EuropeFX make money?

EuropeFX makes its money by charging its clients a commission and small spreads on the trades they make on the EuropeFX’s trading platforms.

  • How to deposit in your EuropeFX account?

Funding of trading accounts at EuropeFX can be done through credit cards, multiple eWallets or bank wire transfer.

  • How to withdraw money from EuropeFX?

Withdrawal of funds from a EuropeFX trading account can be done using a credit card, eWallet or bank wire transfer.

  • How to open an account with EuropeFX?

To open a trading account at EuropeFX, you are required to fill up a registration form and submit it with all the necessary verification documentation.

  • Is EuropeFX reliable?

Yes. EuropeFX is reliable as the broker operates within the framework of the guides imposed under MiFID and CySEC.

  • Does EuropeFX use MetaTrader?

Yes. The main trading platform is MetaTrader 4.

  • What is EuropeFX‘s leverage?

The maximum leverage offered by EuropeFX is 1:200.

  • Is EuropeFX a scam?

No, EuropeFX is not a scam. It is a legitimate broker that is authorized and licensed by the CySEC.

  • How safe is EuropeFX?

Apart from strictly following the regulatory requirements imposed by CySEC, EuropeFX encrypts all its web transactions to safeguard the integrity of their clients’ personal information.

Conclusion

EuropeFX understands the importance of trust in gaining the confidence of their traders. To gain this trust, EuropeFX has gone to great lengths to safeguard the interest of their clients. They have also shown that they are capable of meeting their traders’ needs regardless of whether they are beginners or more experienced traders. If you are looking for long-term success, then EuropeFX is worth considering as one of the brokers to sign up with.

EuropeFXOverview

Company Information

Broker DetailsInfo
Regulated byCySEC, MiFID
Headquarters CountryCyprus
Foundation Year2013
Publicly TradedNo
Number Of Employees100

Deposit Options

Credit Card, Neteller, Skrill, Wire Transfer

Withdrawal Options

Credit Card, Neteller, Skrill, Wire Transfer

Contact Information

Trading Account Options

Account TypeInfo
Min. Deposit$200
Max. Leverage1:200
Mini AccountYes
Demo AccountYes
Premium AccountYes
Islamic AccountNo

EuropeFX Trading Features

Suitable For

Trader LevelYes/No
BeginnersYes
ProfessionalsYes
ScalpingYes
Day TradingYes
Weekly TradingYes
Swing TradingYes
Social TradingYes

Customer Service

TimeYes/No
24 Hours SupportNo
Support During WeekendsNo

Customer Support Languages

English, German, Italian

Trading Services

ServiceInfo
Supported Trading PlatformsMT4
Educational ServiceYes
API TradingYes
Has VPS ServicesYes

Supported Instruments

Instrument TypeYes/No
CurrenciesYes
CommoditiesYes
CFDsYes
IndicesYes
ETFsNo
StocksNo
BondsNo

EuropeFXUser Reviews

Rate this broker
  • 5.0
    5 stars
    P.
  • 5.0
    love the team
    Euro Mentor
  • 5.0
    231
    kilo
  • 5.0
    Great team of Guys
    Patryk
  • 5.0
    Awesome broker
    Delaney
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