EverFX Video Review
As EverFX is ased out of the Cayman Islands, the firm is licensed and regulated by the Cayman Islands Monetary Authority (CIMA), with license number 1444866. As well, the firm is regulated by the Cyprus Securities and Investment Commission (CySEC) due to their heavy international presence in the financial markets across Europe. Also, EverFX is compliant with the European MiFID.
EverFX is a registered Cyprus Investment Firm (CIF) with their registration number being: HE346662. As a registered CIF, EverFX is a member of the Investor Compensation Scheme which protects customer funds up to €20,000 EUR in the event of broker insolvency or loss of funds due to fraud. Also, customer funds are held in secure and segregated tier 1 European bank accounts to further protect their customers. As well, EverFX employs the latest and greatest security measures such as advanced SSL (secure socket layer) encryption technology, among other things to better protect their customers’ personal information and funds.
EverFX features not one, but two highly sophisticated online trading platforms. First is the ever-popular MetaTrader 4 (MT4) desktop platform and the second being the MT4 WebTrader platform. No matter what type or experience level of trader you are, EverFX has a platform to accommodate your needs.
The suite of MetaTrader 4 platforms are the most popular trading platforms in the world and for good reason. Both MT4 platforms are generally the same, only the MT4 WebTrader platform can be accessed via the web from anywhere on any computer. The MT4 desktop platform can be downloaded for free from the EverFX website and will only work on the computer it’s downloaded on.
The MT4 platform features a sophisticated charting package complete with numerous built-in technical indicators, an array of drawing and analysis tools, chart types and time frames. As well, the platform supports unparalleled customization options and the ability to automatically trade with automation from Expert Advisors (EAs). Traders also benefit from lightning fast execution speeds and the ability to place multiple advanced order types.
EverFX Mobile Trading
EverFX traders benefit from an intuitive mobile trading experience as they have access to mobile trading applications for both smartphones and tablets. The MT4 mobile trading application is available for free and can be downloaded from the Apple App Store and the Google Play Store. The mobile trading app is intuitively designed and very easy to use. Traders can easily manage their portfolio and place trades while on the go.
As mentioned earlier, EverFX is a very accommodating online trading brokerage and therefore offers traders a wide array of tradeable assets across the global financial markets. In addition to the trading of forex currency pairs, EverFX allows their clients to trade CFDs on precious metals, indices, energies, shares, and cryptocurrencies for a total of 6 different asset classes with over 130 tradeable instruments. All in all, EverFX offers traders a diverse range of financial assets to trade. See the range of tradeable assets below.
50+ currency pairs
50 of the biggest shares
Silver, Gold, Platinum, Palladium, Copper
10 of the world’s biggest indices
US Oil, Brent, Natural Gas
16 different cryptocurrencies
To further accommodate the needs of all their traders, EverFX offers three different account types for their traders to choose from. Also, the three accounts available have Islamic account versions to accommodate their religious requirements. See the account types overviewed below.
Minimum deposit of $250
Maximum leverage of up to 1:500
Reasonable spreads from 1.2 pips
A stop out level at 20%
Minimum deposit of $5000
Maximum leverage of up to 1:500
Instant deposits and withdrawals
Tighter spreads from 0.8 pips
A stop out level at 30%
Minimum deposit of $30,000
Maximum leverage of up to 1:200
Instant deposits and withdrawals
Even tighter spreads from 0 pips
A stop out level at 60%
Commissions & Spreads
EverFX utilizes variable spreads on all trades. Variable spreads are often lower than fixed spreads but can increase in times of low liquidity and high market volatility. However, the variable spreads at EverFX are generally very tight with average spreads of just 0.3 pips on the EUR/USD currency pair. The Standard and Premium accounts offer commission-free trading with reasonable spreads, and the VIP account offers very tight spreads with commissions of $2.00 per lot traded or $4.00 per every round lot. All in all, the commissions and fees imposed on traders are relatively low and competitive with the industry standards. All of these figures can be found on the broker’s website.
Deposits & Withdrawals Options
EverFX provides their traders with a wide selection of payment methods for depositing and withdrawing funds
. See below, a list of the available deposit and withdrawal options.
Deutsche Bank Wire Transfer
Bank One Wire Transfer
All deposits are free of charge with the exception of deposits made via Deutsche Bank wire transfer, where a fee of 2% is applied. Deposits via credit card are processed within 1 hour, via e-wallet within 2 hours, via bank wire transfer within one business day.
As for withdrawals, fees range from 2% – 3% for e-wallets, 3 % for credit cards, 0% for Bank One wire transfers and 2% for Deutsche Bank wire transfers. Credit card and e-wallet withdrawals are processed within 1 business day and withdrawals via bank wire transfer are processed within 5 business days
Bonus & Promotions
At the time of writing this review, EverFX does not feature any bonuses or promotions. However, keep in mind that bonuses and promotions may be offered from time to time.
The level of customer support provided by EverFX is phenomenal. Customers can reach support representatives via live chat, email, Telegram, Viber, Facebook messenger, and telephone, 34 hours a day, 5 days a week. As well, EverFX remains active on their social media channels including Facebook, Twitter, LinkedIn, YouTube and Instagram. Via these channels, traders can interact with support reps by commenting on posts or sending direct messages. In addition to the support contact methods, EverFX features an extensive FAQ page where customers will find the answers to a wide array of questions. As well, EverFX features a comprehensive education center that comes complete with weekly webinars, seminars, eBooks, educational videos, and more.
Pros and Cons
Excellent trading platforms
Highly regulated trading brokerage
A wide array of tradable instruments
Low and competitive fees and commissions
Phenomenal customer support and educational resources
Does not accept traders from North America
No bonuses or promotions
Yes, EverFX is licensed and regulated by the Cayman Islands Monetary Authority (CIMA) and the Cyprus Securities and Exchange Commission (CySEC).
EverFX is based at Artemis House, Fort Street, KY1-1111, Grand Cayman, Cayman Islands.
How does EverFX make money?
EverFX makes its money by charging traders a spread and sometimes a commission (depending on the account type) on the trades that they executed on the broker’s trading platforms.
How do I deposit in EverFX account?
You can deposit funds to your EverFX account via Visa, MasterCard, Bank Wire Transfer, Skrill, and Neteller.
How do I withdraw money from EverFX?
Withdrawals of funds must be made through the same channel used for making the initial deposit.
How do I open an account with EverFX?
To open an account with EverFX, simply complete the registration form and submit it with all the relevant documentation for KYC and AML purposes.
Does EverFX use MetaTrader?
Yes, EverFX uses both the MetaTrader 4 desktop platform and the MT4 WebTrader platform.
The maximum leverage offered by FHBC is 1:500.
The EverFX online trading brokerage offers traders a sophisticated online trading experience by providing an advanced suite of trading platforms, a wide array of financial instruments, and a safe and secure online trading environment. EverFX is globally recognized and has won numerous awards for their services, making them an enticing broker to trade with. The fees and commissions imposed on traders are relatively low, and traders have a variety of fast deposit and withdrawal options. Also, one of the most important aspects a broker can have is their level of customer support. EverFX has phenomenal customer support and offers extensive educational material. All in all, EverFX appears to be a viable online trading brokerage with quite a lot to offer.