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EverFX Broker is one of the controversial brokers in the market with many blackmarks. Read more about EverFX here in this article. You will find here an updated review for 2023 with a detailed product guide of EverFX with its regulations. tradingcritique.com has also added a Warning section about EverFX. Please read the review completely before investing in EverFX.
EverFX (https://everfx.com/) was founded in 2008 in Limassol, Cyprus in the trading name of ICC Intercertus Capital Ltd and Aerarium Limited. EverFX is an international online broker. Retail and Institutional investors can trade in more than 130 trading instruments from 6 asset classes in EverFX. It Operates worldwide and places greater importance on providing professional and reliable services to customers.
EverFX is a Global broker. It was Authorized and Regulated by CySEC, CIMA, FSA. They offer Forex trading, CFD trading, Spread Betting trading, and Social trading to retail investors. They provide trading platforms such as MetaTrader 4 (MT4) and Web Trader – Status.
EverFX offers access to 1000+ different trading financial instruments and markets, especially commodities, indices, Forex, and cryptocurrencies. The personal client support is available 24/5.
Image 1: Home page on E*TRADE website.
The EverFX’s trading name is ICC Intercertus Capital Ltd. and Aerarium Ltd. They use subsidiaries for card transactions. These subsidiaries are Digital Age Solutions Limited and GAAM Digital Progressus Limited. The Digital Age Solutions Limited is wholly owned by ICC Intercertus Capital (Cayman) Limited.
| Country | Company name | Registration details | Regulations |
|---|---|---|---|
| Cyprus | ICC Intercertus Capital Limited (https://eu.everfx.com/) | Company Registration No.
HE346662 License No. 301/16 |
Cyprus Securities and Exchange Commission (CySEC), |
| Cayman Island | ICC Intercertus Capital (Cayman) Limited (https://global.everfx.com/) | Company Registration No.
CR-326096 License No. 1444866 |
Cayman Islands Monetary Authority (CIMA), |
| Seychelles | Aerarium Limited (https://int.everfx.com/) | Company Registration No.
8425627-1 License No. SD036 |
Financial Services Authority (FSA), |
The following are some awards awarded to EverFX,
EverFX provides 1000+ Currencies, Stocks, Indices & Commodities. You can trade the largest, most dynamic online Financial markets in the world, taking advantage of 24-hour investment opportunities. The trading instruments are Stocks, Forex, Energies, Cryptos, Indices, Metals, and Commodities.
Table 2 : Various trading instruments available in EverFX
| Trading types | Features to trade in EverFX | |
|---|---|---|
| Stocks |  |
Well-known shares are available in EverFX like Amazon, Facebook, Apple, etc. |
| Forex (FX) | |
You can Trade popular forex pairs, including the EUR/USD, GBP/USD, and USD/JPY. |
| Energies | |
With EverFX you can trade in petroleum products such as oil and natural gas. |
| Indices | |
EverFX offers to trad on world-leading indices like Dow Jones 30 (DJ30), Euro stocks 50 (EUSTX50), and Nikkei 225 (JPN225). |
| Metals | |
EverFX offers an interesting alternative for forex and stock trade to gold, copper, and aluminum. |
| Commodities | |
Commodities are older than financial markets. |
|
It can even be said that the trade of goods is older than the currency. | |
|
When you trade goods on EverFX, you trade an ingredient such as coffee, cotton, wheat, livestock, and so on. | |
EverFX offers two different types of platforms namely, MetaTrader 4 (MT4) and Webtrader – Status. MetaTrader 4 (MT4) is a well-known familiar trading platform.
WebTrader-Status trading platform is simple and powerful for the next generation of traders. Both the platforms are suitable and available for various operating systems such as Windows OS, Mac OS, Web trader, Android (mobile and tablet), and iOS (iPhone and iPad).
MetaTrader 4 is an online trading platform launched in 2005. MT4 is one among the trading platforms which is well known and used by traders across the globe. It has been attracting clients for its accessibility and unique professional features which can take your trades always to the next level. MT4 can suit any trader with different trading style and time horizons.
Consequently, MT4 is a powerful analytical tool. It is fully customizable. It also allows you to integrate third-party analysis tools, if you need something that is not available in the platform. You can code your own tools in MT4. You can chart multiple symbols across a variety of asset classes all at the same time.
Image 2: About MetaTrader 4 in EverFX
Web Trader – Status is a new platform EverFX created for its clients. Status trading platform has many unique features that can make your trading experience easy and simple. It has good technical analysis tools such as charting which works best in both its web version and mobile version.
Web trader- Status has a seamless design that helps you understand the nuances of trading even if you are a beginner in this trading field.
Image 3: An introduction about EverFX WebTrader-Status
EverFX also has a mobile trading application platform. It allows the traders to manage their trades while exit and during emergencies trading conditions in the market. 130+ trading instruments are present here. The application is available in both Android (Size 11MB) and iOS (Size 44.4MB) which has over 10,000+ downloads.
The app is available for download from the Apple App Store (iOS) and Google Play Store (Android). It’s completely free.
The account type differs according to the location of service provided and the regulatory body regulating EverFX in that region. Accordingly, EverFX offers the following three types of accounts.
Each account has 3 to 4 Levels based on various features. The initial deposit and benefits differ according to the account type. There are 3-4 levels in the account type. You can upgrade to the next level by increasing your deposit amount.
FSA account can be accessed and used under EverFX website (https://int.everfx.com/) under Aerarium Limited company. This company is regulated under Seychelles Financial Services Authority (FSA) and accepts clients only from the countries they are allowed to accept.
CIMA Account can be accessed from the EverFX website (https://global.everfx.com/) under the company ICC Intercertus Capital (Cayman) Limited. It accepts clients from regions regulated by Cayman Islands Monetary Authority (CIMA).
Both FSA and CIMA account types have four different levels namely Entry, Standard, Premium and VIP. The minimum deposit, spread, leverage, bonus, and customer support for these two accounts are same. Find the details in the below given table.
Table 3: The Features of FSA and CIMA Account types of EverFX
| Features | Entry | Standard | Premium | VIP |
|---|---|---|---|---|
| Minimum Deposit | $250 | $2,500 | $10,000 | $50,000 |
| Minimum Spread | 1.5 pips | 1.2 pips | 0.8 pips | 0 pips |
| Maximum Leverage up to | 1:500 | 1:500 | 1:400 | 1:200 |
| Bonus up to | 30% | 50% | 100% | 100% |
| Customer Support | 24/5 | 24/5 | 24/5 | 24/5 |
| Intro Call from | Personal Account Manager | Personal Account Manager | Personal Account Manager | Dedicated Personal Account Manager |
CySEC account type can be accessed from the EverFX website (https://eu.everfx.com/) which runs under the company ICC Intercertus Capital Limited. This company is regulated under Cyprus Securities and Exchange Commission (CySEC) and accepts clients only from some specified countries under this regulation.
There are three different levels in CySEC account types which are Premium, Standard and VIP. The different features for these account levels like minimum deposit, spread, base currency and commissions are given in the table below.
Table 4: Features of CySEC Account types of EverFX
| Features | Standard | Premium | Premium |
|---|---|---|---|
| Minimum Deposit | 250 | 5,000 | 30,000 |
| Minimum Spread | 1.2 pips | 0.8 pip | 0 |
| Base Currency | USD, EUR, GBP | USD, EUR, GBP | USD, EUR, GBP |
| Commissions | No | No | $2 to $6 per lot |
Image 4: Account Types in EverFX
EverFX takes a maximum of 72 hours for processing time when you use a bank transfer for deposits. Otherwise, when you use a card and E-Wallet transaction, the processing time is real-time. The currency will change depending on the transaction mode type.
At the same time, the withdrawal will follow the same transaction methods. Such as cards, banks transfer, and E-Wallets. The withdrawal processing time is one business day to a maximum of 72 hours and currency will change depending on the transaction mode type.
EverFX does not charge commission fees on the bank transfer method, but the charge depends on the bank. When you withdraw your card and e-wallet deposits, a commission will be charged from you depending on your transaction method.
Customers can choose between live chat or email support in EverFX from the ‘Support FAQ’ page. There is also a callback option available from the Support Team. You can contact the 24/5 support team.
Email, Live Chat, and Phone are supported in a limited number of Languages. Languages available are English, Spanish, Chinese, German, French, Italian, Polish, Romanian, Slovenian, Arabic, Russian, etc.
Image 5: Information about EverFX Customer Support.
EverFX is rich in education tools like videos, trade and business-related articles, EverFX academy, Trading Central, Newsroom, and glossary. They educate trading courses for forex trading, stock trading, crypto trading via tutorials. You can learn how to trade with them by logging into EverFX.
You can also download supplementary materials here. They provide 24/7 learning materials, video tutorials to their customers. In the newsroom section, they continuously upload videos, news, and articles related to the market and traders’ activities. They also upload articles related to EverFX weekly. They have so far uploaded three videos in less than two minutes in the Trading TV section.
There are many complaints about EverFX from its clients in our tradingcritique.com. Many critics such as Scam Complaint Registry, Trustpilot also complains about the business activities of EverFX.
The main problem faced by many customers is that they are unable to contact EverFX after depositing money. The withdrawal procedure EverFX claims is not followed as mentioned on the website.
EverFX was banned to do business activities in many countries. The Financial Conduct Authority (FCA) has given a First supervising notice to restrict and close its business operations in the United Kingdom. Hence, EverFX has suspended its business in the United Kingdom. This is one among the restrictions.
EverFX has all the technological features to trade and also has blackmarks in the trading industry. Its corruption is confirmed by a series of complaints from customers on various platforms. It is up to you to decide whether you need to trade with EverFX or not.
tradingcritique.com reviews EverFX honestly for the need of the traders. We are not associated with EverFX and its other sister companies in any ways.
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