CoverdealFX Review - What to expect from the broker
CoverdealFX is a Forex and CFD Broker that features on its trading platform CFDs on commodities, bonds, indices, stocks, cryptocurrencies. CoverdealFX is a subordinate company of Coverdeal Holdings Limited, a corporation that is regulated and overseen in Cyprus by the CySEC (just like Globtrex). The average spread is for EUR/USD 30 pips*, real trading is possible with the minimum deposit of $250. The CoverdealFX website is available in English, Czech and Spanish.
What do we cover in our CoverdealFX Review?
| General Risk Warning: 74–89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. |
Basic information about the broker
- Website address: www.CoverdealFX.com
- Leverage: up to 1:30
- Instruments: CFDs - forex 53), commodities (15), bonds (1), indices (14), stocks (199), cryptocurrencies (5)
- Minimum deposit: $250
- Demo account: Yes
- Methods of deposit and withdrawal: Wire Transfer, Credit and debit cards (Visa, MasterCard or Diners Club)
CoverdealFX Trading Platform
For FX and CFD trading, CoverdealFX offers MetaTrader 5. MT5 is A popular platform used not only for executing trades but also for analyzing financial markets and automated trading. This trading platform can be downloaded to any computer or can be accessed via just a web browser or a mobile application. The trading platform gives access to over 260 trading instruments.
CoverdealFX Spreads
As any other CFD broker, CoverdealFX charges a spread fee. For the most current spread charges, please visit the CoverdealFX.com website. Here is a spread comparison table that contrasts CoverdealFX spreads with popular industry competitors.
| Asset | EUR/USD | USD/JPY | GBP/USD | AUD/USD |
| CoverdealFX* | 30 | 30 | 30 | 40 |
| Pepperstone** | 1.0 | 1.0 | 1.0 | 1.0 |
| eToro** | 1.0 | 1.0 | 2.0 | 1.0 |
*Average spreads recorded on 10.06.2019 at 15:42 GMT, data were taken from the instrument specification page that the broker features on its website. **Minimum Spreads recorded on 18.8.2023 at 11:26 GMT from the website of the broker.
CoverdealFX regulation
Coverdeal Holdings Limited is authorized and regulated by the Cyprus Securities and Exchange Commission under license number 231/14.The CySEC regulation gives CoverdealFX the right to provide cross-border services to other members of the European Economic Area.
To sum up the CoverdealFX Review
CoverdealFX adheres to strict regulatory guidelines of the CySEC (CIF license number 231/14.). The broker offers a wide variety of CFDs and features two very popular trading platforms. Nevertheless, the spread fee that applies to popular forex pairs is enormous.
Your review can make a difference to other traders, please leave a comment if you have any personal experience with CoverdealFX.
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