Having looked at the demo Fondex cTrader platform we can confirm that Fondex traders have access to over 1000 tradable financial instruments across 7 global asset classes including forex, shares, precious metals, energies, ETFs, and cryptocurrencies. This is a wide selection. See these asset classes overviewed below. *All data is taken directly from the broker’s website and is correct at time of writing.
- 80+ forex currency pairs
- Majors, minors, exotics
- Competitive spreads starting at just 0.0 pips
- 15 major indices
- Low spreads (starting at 1.4 for UK 100)
- Trade size flexibility
- No commissions, no hidden fees
- 900+ global shares
- Flexible position sizing
- 1:5 leverage
- Gold, silver, palladium
- Leverage of 1:10 or 1:20
- Advanced protection
- Crude oil & Natural gas
- Excellent for intraday traders
- Leverage of 1:10
- 19 PowerShares
- 25 IShares
- Leverage of 1:5
- Bitcoin, Ethereum, Litecoin, Ripple
- Trade Cryptos through CFDs
Fondex keeps things simple by offering their clients only one Account type plus a Swap-Free account for Islamic traders. The Fondex Unified Account provides traders with all-inclusive access to all of the tradable instruments offered as well as all the trading and analysis tools available. If you are eligible for a Swap-Free account you will not have to pay overnight fees, this is specifically for those traders that follow the Islamic faith. Opening an account with Fondex can be done in a few steps. You can also trade with a demo account first to try out the platform before you deposit funds. During the process of registration, there is a demo video, which can help guide you through the steps of opening a demo account. Bear in mind that you will need to supply Fondex with your proof of identity and proof of address to register a real account.
Commissions & Spreads
For Forex Fondex offers floating spreads from as low as 0.0 pips and a daily average spread of 0.28 pips on the EUR/USD currency pair.
No commissions are charged for the trading of shares, indices, ETFs, and cryptocurrencies. Commissions are charged for the trading of energies and precious metals where traders must pay $3.50 per 100K of traded volume.
* Please note that all spreads and commissions are taken directly from the Fondex website and are correct at the time of writing this review.
Deposits & Withdrawals Options
Fondex provides their traders with a wide array of payment methods for deposits and withdrawals. These include Visa, Maestro, Mastercard and an array of e-wallets including Skrill, Neteller as well as bank transfer. Fondex does not charge for deposits you make through them although your payment processor might. As for withdrawals, fees do apply, and the company claims that all withdrawals are completed within 24 hours.
See below, a list of the available deposit and withdrawal methods along with the associated withdrawal fees.
- Visa, MasterCard, Maestro: 2.95% fee
- Skrill: 2.5% fee
- Neteller: 3.2% fee
- PaySec: 3.5% fee
- ePayments: charges on your bank
- Bank Transfer: charges on your bank
*All charges are taken from the broker’s website.
Bonus & Promotions
Unfortunately, Fondex does not provide their traders with any bonuses or promotions for trading with them. This comes as a result of being CySEC regulated. This authority does not permit its member brokers to offer trading bonuses.
Fondex provides their clients with customer support that’s available 24 hours a day, 5 days a week. Traders can reach Fondex’s dedicated support team via email, telephone, WhatsApp, Telegram and live chat. Additional methods of support include an extensive FAQ page and connection via social media including on Facebook, Twitter, LinkedIn, Instagram, and YouTube.
Pros and Cons
- Excellent trading platform
- Copy trading available
- Mobile trading supported
- 1000+ tradeable instruments
- Highly regulated trading broker
- Only 1 type of trading account (apart from Islamic)
- No bonuses or promotions