EuropeFX-Overview of Minimum Deposit, Leverage, Spreads

Note: Since EuropeFXs official site (https://tradefxacademy.com/trade-cfd-cryptocurrencies-efx/#register) is not accessible while writing this introduction, only a cursory understanding can be obtained from the Internet.

General Information & Regulation

EuropeFX, a trading name of MAXIFLEX LTD., is allegedly an STP forex and CFD broker established in 2014, registered as a Cyprus Investment Firm (CIF) and licensed by the Cyprus Securities and Exchange Commission (CySEC). The broker claims to provide its clients with over 300 forex and CFDs trading with flexible leverage up to 1:200 and minimum spreads of 0.1 pips on three trading platforms, including the state-of-the-art MetaTrader4, as well as a choice of five different account types.

Market Instruments

EuropeFX advertises that it is an STP forex and CFD broker offering a wide selection of forex currency pairs and various assets including indices, commodities, stocks, metals, oil, ETFs and cryptocurrencies of Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, etc.

Account Types

Apart from demo accounts, there are five live trading accounts offered by EuropeFX, namely Bronze, Silver, Gold, Platinum and Premium. Opening a Bronze account requires the minimum initial deposit amount of €1,000, while the other four account types have much higher minimum initial capital requirements of €2,500, €10,000, €25,000 and €50,000 respectively.

Leverage

EuropeFX says it offers maximum leverage of up to 1:30 for forex, 1:20 for indices, 1:5 for stocks, 1:10 for commodities, and 1:1 for cryptocurrencies. While professional traders can apply for a much higher maximum leverage as high as 1:200. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads & Commissions

EuropeFX claims that the spread is as low as 0.1 pips. As for commissions, it levies a commission from €20 per lot for currency pairs with the Bronze account, which drops to €10 per lot with higher account levels.

Trading Platform Available

When it comes to available trading platforms, EuropeFX gives traders three choices: the web-based TradeWorks and EuroTrader, and the world‘s best MetaTrader4, available on the desktop and the web. MT4 is considered the world’s number one platform, preferred by over 80% of users. It offers an intuitive and user-friendly interface, advanced charting and analysis tools, as well as copy and auto-trade options.

Deposit & Withdrawal

EuropeFX says to work with numerous means of deposit and withdrawal choices, consisting of credit or debit cards like VISA and MasterCard, bank wire transfers and e-wallets like Skrill, SafeCharge, iDeal, GiroPay, SafePay, TrustPay and Przelewy. The minimum deposit requirement is said to be €200 while opening an account requires the minimum initial capital of €1,000. The broker also charges a $25 withdrawal fee.

Fees

Apart from the withdrawal fees, EuropeFX also charges a €/$/￡50 inactivity fee after 3 months of account dormancy.

Customer Support

EuropeFX‘s customer support can be reached by live chat or request a callback. Besides, you can also follow this broker on some social media platforms like Twitter. Unluckily, we didn’t find other more specific contact information like telephone number, email or the company address on the Internet.