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
Plus500** 0.6 0.7 1.1 0.6
IQOption** 3.7 4.4 8.8 5.3

*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. **Spreads recorded on 31.05.2019 at 8:23 GMT from the trading platform of the broker.

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.

CoverdealFX Review – What to expect from the broker
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Michael

Hi, I'm Michael and my area of expertise is forex and cryptocurrency trading. I specialize in technical analysis, namely in chart pattern setups. I educate traders of all levels and I believe that prerequisite to successful active trading is always knowing risks of the game. My most current interest lays in cryptocurrencies, especially in Ethereum and in decentralized applications. I do not give investment advice, but for general inquiries please use the comment section under any article.
Michael

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