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Fondex Review 2022

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"Fondex™ is a trade name of TopFX Ltd, which is registered as a Cyprus Investment Firm (CIF) and licensed by the Cyprus Securities and Exchange Commission (CySEC) under licence number 138/11, VAT 10274180P in accordance with the Markets in Financial Instruments Directive (MiFID II). Risk warning:CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.53% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money."

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“Fondex is a brand name of TopFX Ltd, a Cyprus investment firm authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker offers clients the ability to trade on 1,000+ financial instruments covering Forex, Shares, Indices, Metals, Energies and ETFs from the award-winning cTrader platform for Web, Mac, Windows and Mobile.”

Fondex is a brand name of TopFX Ltd, a Cyprus investment firm authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). As such the broker does provide negative balance protection and segregation of client funds. Additionally, clients can trade on over 1,000+ financial instruments covering Forex, Shares, Indices, Metals, Energies and ETFs from the award-winning cTrader platform for Web, Windows, Mac and Mobile.

There are also several additional trading features that are part of the cTrader platform including Copy, Manual and Automated trading services, an economic calendar and trading signals from Autochartist. Although only one account type is available, it does come with spreads from 0.0 pips, low commissions and leverage up to 1:30 for retail clients. Demo and Islamic (swap-free) accounts are also available.

Clients have a variety of fee-free deposit and withdrawal options including debit/credit card, bank transfer, Neteller, Skrill, Webmoney, PayPal, Giropay and more. However, there is a small inactivity account fee after 90 days of no account activity.

The research material is limited and only features market news but there is a good selection of educational articles that are regularly updated. Further, newer traders can also take advantage of the glossary and FAQ section. The broker offers multilingual customer support 24/5 via email, phone, live chat, Facebook Messenger, Telegram and Whatsapp.

Pros: Cons:
  • CySEC regulated.
  • Low commissions.
  • Spreads from 0 pips.
  • 1,000+ financial CFD instruments.
  • Award-winning cTrader platform.
  • Limited market research.

 

About the Author

Jitan Solanki
Author
Jitan is a currency trader and an accredited Market Technician with more than 15 years of experience working with fund managers and on several proprietary trading floors. He is regularly quoted in the financial media for his currency market insights and forecasts and is based in London.
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Fondex Main Features
☑️
Regulations
CySEC (Cyprus), FSA(SC) (Seychelles)
️🗺
Supported Languages
English, French, Hungarian, Bulgarian, Italian, Greek
💰
Products
Crypto, Currencies, Commodities, CFDs, Indices, ETFs, Stocks
💹
Max Leverage
1:30 (CySEC), 1:30 (FSA(SC))
🖥
Trading Desk Type
ECN, Market Maker, No dealing desk, STP
📊
Trading platforms
cTrader
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"Fondex™ is a trade name of TopFX Ltd, which is registered as a Cyprus Investment Firm (CIF) and licensed by the Cyprus Securities and Exchange Commission (CySEC) under licence number 138/11, VAT 10274180P in accordance with the Markets in Financial Instruments Directive (MiFID II). Risk warning:CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.53% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money."

Fondex Full Review

Fondex Video Review

Investor Protection & Regulations

“Fondex is a brand name of TopFX Ltd, a Cyprus investment firm authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC).”

Fondex is a brand name of TopFX Ltd, a Cyprus investment firm authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), as shown on the regulator’s register below:

The broker is also authorised and regulated offshore by the Financial Services Authority of Seychelles (FSA).

Fondex provides further security of client funds by following the below regulatory requirements:

  • Holding client funds in segregated accounts from company funds.
  • Providing a negative balance protection policy.
  • Being a member of the Investor Compensation Fund.

Tradable Products

“Fondex offers clients the ability to trade on over 1,000+ financial CFD instruments covering Forex, Shares, Indices, Metals, Energies and ETFs.”

Fondex offers clients the ability to trade on over 1,000+ financial CFD instruments covering Forex, Shares, Indices, Metals, Energies and ETFs. Below is a list of just some of the available markets for trading:

Forex Indices Energies
EURUSD US30 WTI
GBPUSD US500 Brent Crude
USDJPY Euro 50 Natural Gas
EURJPY UK 100 ETFs
Shares Metals MSCI Australia
Google Silver MSCI Pacific
Facebook Gold MSCI Mexico
Volkswagen Palladium MSCI Italy
Netflix Platinum MSCI United Kingdom

* Details regarding the available assets are taken from the Fondex website and are correct at the time of this review. You can find a more detailed list here.

Trading costs such as spreads and overnight funding (swap) rates are covered further down this review .

Account Opening

“Fondex offers a single commission-based account with no minimum deposit requirement. Demo and Islamic (swap-free) accounts are also available.”

Fondex offers a single commission-based account with no minimum deposit requirement. Demo and Islamic (swap-free) accounts are also available.

The main features of the Fondex Trading Account include:

  • Access to multiple financial instruments covering Forex, Shares, Indices, Metals, Energies and ETFs.
  • Account leverage of up to 1:30 for retail clients.
  • Spreads from 0.0 pips.
  • Low commissions.
    • $2.5 per side per $100k traded volume for Forex, Energies & Precious Metals.
    • $1 per side for 100 Shares & ETFs.
    • 0 commission for indices.
  • No minimum deposit.
  • Micro lot trading on Forex, Precious Metals, Energies and Indices.
  • Access to Manual, Copy and Automated trading.

Users can open a new account in just a few steps. After clicking the ‘Open a Live Account’ button on the broker’s homepage, users will be guided through the following steps:

  1. Sign Up: Enter email, password and phone number.
  2. Personal details: Enter name, date of birth, country and address.
  3. Questionnaire: Questions regarding previous trading experience and understanding of various financial products as well as employment and financial status.
  4. Document Verification: Proof of identity (passport or driving licence) and proof of residence (utility bill or bank statement – not more than 3 months old).

The application form is shown below:

The broker does not accept clients from the United States, Japan, North Korea, Iran, Belgium, Canada and other countries whose domestic regulations classify such investment offering as prohibited.

Deposit & Withdrawals Options

“Fondex offers a variety of fee-free deposit and withdrawal methods including debit/credit card, bank transfer, Neteller, Skrill, Webmoney, PayPal, Giropay and more.”

Fondex offers a variety of fee-free deposit and withdrawal methods including debit/credit card, bank transfer, Neteller, Skrill, Webmoney, PayPal, Giropay and more.

Deposits are processed immediately for all payment methods excluding bank transfer which can take between 1-3 days and withdrawals are also processed within 24 hours, excluding bank transfer which can take between 1-3 days. Withdrawals via bank wire also have a minimum of 25EUR.

Clients can deposit and withdraw funds through the trading platform.

Web & Desktop Trading Platforms

“Fondex offers the cTrader trading platform which has won multiple awards including Best Trading Platform – FMLS Awards 2018, Best Retail Platform, Best Copy Trading Platform for Web and Desktop, Best Multi-Asset Trading Platform Award 2020 and Best Forex Trading Platform 2020”

Fondex offers the cTrader trading platform that has won multiple awards including Best Trading Platform – FMLS Awards 2018, Best Retail Platform and Best Copy Trading Platform for Web and Desktop, Best Multi-Asset Trading Platform Award 2020 and Best Forex Trading Platform 2020. The platform features are highlighted below:

Fondex cTrader

  • Features 3 core methods – Copy, Trade and Automate.
  • Advanced charting tools.
  • Ultra-fast execution – Best Trade Execution award.
  • 70+ technical indicators.
  • Available for Web and Desktop download.

A screenshot of the Fondex cTrader desktop platform is shown below and is covered in more detail in the video review:

Mobile Trading Platforms

“Fondex offers users the ability to access mobile trading on the go from the Fondex cTrader mobile trading app for Android and iOS systems.”

Fondex offers users the ability to access mobile trading on the go from the Fondex cTrader mobile trading app for Android and iOS systems. Both app download links can be found in the Google PlayStore or Apple AppStore.

The Fondex cTrader mobile trading app provides a range of different features including:

  • Trade and manage your account on the go.
  • 50+ technical indicators.
  • Real-time quote streaming.
  • 26 timeframes.
  • One-click trading.

The Fondex cTrader mobile trading app is covered in more detail in the video review.

Trading Features

“Fondex provides great additional trading features such as the cTrader Copy and Automated trading services as well as Autochartist trading signals.”

Fondex provides great additional trading features such as the cTrader Copy service that allows clients to copy the trades of other users. There are multiple strategy providers clients can choose from based on filters including ROI, strategy age, fee, number of copiers, timeframe and more.

Further, clients interested in automated trading can use the desktop version of the platform to easily code with the built-in editor, access a large library of automated robots and backtest and optimise their strategy. Autochartist is also another great feature that gives clients access to a market scanner that provides important price levels and pattern recognition charts across multiple markets.

Commissions & Spreads

“Trading costs vary with Fondex with some markets being commission-free whilst others are commission-based, however, all costs are fully transparent in the broker’s website.”

Trading costs vary with Fondex with Forex, Energies, Precious Metals, Shares and ETF markets being commission-based whilst Indicies trading is commission-free. The broker’s commission structure is shown below:

  • $2.5 per side per $100k traded volume for Forex, Energies & Precious Metals.
  • $1 per side for 100 Shares & ETFs.
  • 0 commission for indices.

Spreads also vary on a daily basis, but popular markets such EURUSD can have spreads from 0 pips. The table below shows the average spreads for various markets:

Market *Average daily spread from
EURUSD 0.28 pips
Germany 30 0.9 pips
Brent 3.0 pips
Gold 9.36 pips

*Please note that the numbers provided are based on past results and are not indicative of future performance

All trading costs are fully transparent on the broker’s website including spreads, commissions and swap fees.

For Non-Islamic accounts, overnight funding or ‘swap’ fees are charged on positions that remain open overnight (22:00) GMT. If positions are being held over the weekend a three-day ‘swap’ charge will be charged on Wednesdays.

The broker does charge a $5 per month inactivity fee after 90 days of no trading activity.

Bonus & Promotions

“In accordance with regulatory restrictions, Fondex does not offer any bonuses or promotions.”

Customer Support

“Fondex offers multilingual customer support 24/5 via email, phone, live chat, Facebook Messenger, Telegram and Whatsapp. There is also a contact form and FAQ section on the broker’s website.”

Fondex offers multilingual (English, French, Greek, Italian, Hungarian, Bulgarian) customer support 24/5 via email, phone, live chat, Facebook Messenger, Telegram and Whatsapp. There is also a contact form and detailed FAQ section on the broker’s website.

After submitting a question through the live chat we were connected to an agent who answered our question within 20 seconds, as shown below:

Contact Information:

  • Address: 3rd Floor, Stratigou Gianni Timagia 19, Limassol 3107, Cyprus.
  • Email: support@fondex.com
  • Phone: +357 25028079
  • Social Media:

Research

“Fondex research is limited to only market news but the content is regularly updated and the articles are detailed.”

Fondex research is limited to only market news but the content is regularly updated and the articles are detailed.

Trader Education

“Fondex offers a range of educational material that includes Educational Articles, Glossary and a FAQ section.”

Fondex offers a range of educational material that includes Educational Articles, a Glossary and an FAQ section. The educational articles are detailed and cover a variety of topics such as ‘What is the ADX Indicator’ and ‘What is the Parabolic SAR? The content is high quality and is updated several times per month. Additionally, the glossary and FAQ section also explains many of the popular trading terms that users will encounter when trading.

Trading Experience

“Fondex provides clients access to over 1,000+ financial instruments across Forex, Shares, Indices, Metals, Energies and ETFs, all through the award-winning cTrader platform. The broker also offers very competitive spreads and commissions.”

From our observations, Fondex provides clients with a great trading offering across Forex, Shares, Indices, Metals, Energies and ETFs. All clients have full access to over 1,000+ markets through one account that also comes with great features including the award-winning cTrader platform, spreads from 0.0 pips and competitive commissions.

The cTrader platform has three core features called Copy, Manual and Automative. Traditional traders can enjoy the manual trading functionality whereas those who would like to simply copy other traders can filter and select from a range of strategy providers based on specified criteria. Lastly, clients who want a more bespoke strategy can create their own using the built-in editor on the cTrader desktop platform.

Further, users have the option to choose from several fast and secure deposits and withdrawal methods, almost all of which are fee-free.

FAQ

Is Fondex regulated?

Fondex is a brand name of TopFX Ltd, a Cyprus investment firm authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC).

Where is Fondex based?

3rd Floor, Stratigou Gianni Timagia 19, Limassol 3107, Cyprus.

How does Fondex make money?

Fondex makes money mainly through spreads, commissions and swaps on certain asset classes.

How do I deposit in an Fondex account?

Funds can be deposited via debit/credit card, bank transfer, Neteller, Skrill, Webmoney, PayPal, Giropay and more.

What is the min. deposit for Fondex?

There is no minimum deposit.

How do I withdraw money from Fondex?

Withdrawals can be made from the client portal via debit/credit card, bank transfer, Neteller, Skrill, Webmoney, PayPal, Giropay and more.

What is the max leverage in Fondex?

The max leverage available is 1:30 for retail clients.

How do I open an account with Fondex?

An account can be opened at the click of a button on the Fondex website and can be done in just a few steps.

Does Fondex use MetaTrader?

No.

Conclusion

“Fondex is a brand name of TopFX Ltd, a Cyprus investment firm authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker offers clients the ability to trade on 1,000+ financial instruments covering Forex, Shares, Indices, Metals, Energies and ETFs from the award-winning cTrader platform for Web, Mac, Windows and Mobile.”

Fondex is a brand name of TopFX Ltd, a Cyprus investment firm authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). As such the broker does provide negative balance protection and segregation of client funds. Additionally, clients can trade on over 1,000+ financial instruments covering Forex, Shares, Indices, Metals, Energies and ETFs from the award-winning cTrader platform for Web, Windows, Mac and Mobile.

There are also several additional trading features that are part of the cTrader platform including Copy, Manual and Automated trading services, an economic calendar and trading signals from Autochartist. Although only one account type is available, it does come with spreads from 0.0 pips, low commissions and leverage up to 1:30 for retail clients. Demo and Islamic (swap-free) accounts are also available.

Clients have a variety of fee-free deposit and withdrawal options including debit/credit card, bank transfer, Neteller, Skrill, Webmoney, PayPal, Giropay and more. However, there is a small inactivity account fee after 90 days of no account activity.

The research material is limited and only features market news but there is a good selection of educational articles that are regularly updated. Further, newer traders can also take advantage of the glossary and FAQ section. The broker offers multilingual customer support 24/5 via email, phone, live chat, Facebook Messenger, Telegram and Whatsapp.

    • Low commissions and spreads from 0 pips.
    • 1,000+ financial instruments and 7 asset classes.
    • Award-winning cTrader platform.
    • CySEC regulated.
broker

"Fondex™ is a trade name of TopFX Ltd, which is registered as a Cyprus Investment Firm (CIF) and licensed by the Cyprus Securities and Exchange Commission (CySEC) under licence number 138/11, VAT 10274180P in accordance with the Markets in Financial Instruments Directive (MiFID II). Risk warning:CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.53% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money."

See Fondex Full Information
Broker General Information
Trading Features
Other Details
Headquarters Country
Cyprus
Foundation Year
2017
Regulations
CySEC (Cyprus), FSA(SC) (Seychelles)
Publicly Traded
No
Number Of Employees
0-50
Trading Desk Type
ECN, Market Maker, No dealing desk, STP
Trading platforms
cTrader
Restricted Countries
United States, Belgium, Japan, Canada, North Korea, Iran
Supported Languages
English, French, Hungarian, Bulgarian, Italian, Greek
Max Leverage
1:30 (CySEC), 1:30 (FSA(SC))
Deposit Options
Wire Transfer, Credit Card, PayPal, Skrill, Neteller, QIWI, Webmoney
Withdrawal Options
Wire Transfer, Credit Card, Skrill, Neteller
Cryptocurrencies
Bitcoin, Litecoin, Ripple, Dash, Ethereum
Fixed Spreads
No
Commission On Trades
Yes
Products
Crypto, Currencies, Commodities, CFDs, Indices, ETFs, Stocks
Mini Account
No
Premium Account
No
Demo Account
Yes
Islamic Account
Yes
Segregated Account
Yes
Managed Account
No
Institutional Account
No
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