EverFX Review – What to expect from the broker

EverFX is a CFD Broker that features on its trading platform CFDs on Forex, Metals, Indices, Energies, Shares and Cryptocurrencies. EverFX is a subsidiary company of  ICC Intercertus Capital Ltd, a corporation that is regulated and overseen in Cyprus by the CySEC. The spread is for EUR/USD 0.4 pips*, real trading is possible with the minimum deposit of $250. The EverFX website is available in English, Spanish, German, Italian, Russian, Arabic.

What do we cover in our EverFX 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.EverFX.eu
  • Leverage: up to 1:30
  • Instruments: CFDs – Forex, Metals, Indices, Energies, Shares and Cryptocurrencies
  • Minimum deposit: $250 (base currency – USD, EUR, GBP, AUD)
  • Demo account: N/A
  • Methods of deposit and withdrawal: Credit card (Visa only), Neteller, Skrill, bank transfer

EverFX Trading Platform

For FX and CFD trading, EverFX offers two trading platforms MT4 and ZuluTrade. MT4 is a popular platform used not only for executing trades but also for analyzing financial markets and automated trading. ZuluTrade, on the other hand, is a social trading network that allows you to follow and copy trades of other traders. The broker gives access to 130 trading instruments.

EverFX Spreads

As any other CFD broker, EverFX charges a spread fee. For the most current spread charges, please visit the EverFX.eu website. Here is a spread comparison table that contrasts EverFX spreads with popular industry competitors.


Asset EUR/USD USD/JPY GBP/USD AUD/USD
EverFX* 0.4 0.4 0.7 0.5
Plus500** 0.6 0.7 1.1 0.6
IQOption** 3.7 4.4 8.8 5.3

*Spreads recorded on 06.07.2019 at 7:21 GMT for VIP account (starts from $30 000), spread charges were taken from the homepage of the broker. **Spreads recorded on 31.05.2019 at 8:23 GMT from the trading platform of the broker.

EverFX regulation

 ICC Intercertus Capital Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission under license number 301/16.

The CySEC regulation gives EverFX the right to provide cross-border services to other members of the European Economic Area.

Advantages and disadvantages

Every Broker has its pros and cons, let’s have a look at the ones that elevate & denounce EverFX.

EverFX Pros
  • MT4 and ZuluTrade
EverFX Cons
  • Transparency
  • Accepts only Visa cards
  • 2-3% fee on all withdrawal methods
  • No CFDs on cryptocurrencies

To sum up the EverFX Review

EverFX adheres to strict regulatory guidelines of the CySEC. The broker states on its homepage that it charges the spreads which you can see in the spread comparison table above. Unfortunately, EverFX does not inform people that these spreads apply only to holders of a VIP account (the minimum deposit to have this account type is 30 000 dollars).

Spreads for the standard account which is from 250 dollars start from 1.2 pips. I consider this to be a little misleading. I would appreciate if they put under the quote table that they have on the homepage information that the spreads apply only to VIP account owners.

 

EverFX 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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