Everest FX

Note: For some unknown reason, we cannot open Everest FXs official sites (http://everestfx.info/Default.aspx, http://everestfx.com/Default.aspx) while writing this introduction, therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Traders should be careful about this issue.

General Information & Regulation

Everest FX presents itself as a forex broker registered in Saint Vincent and the Grenadines and focused on the Arabian market. The broker claims to provide its clients with leverage up to 1:100 and floating spreads from 2.2 pips on the state-of-the-art MT4 trading platform.

As for regulation, it has been verified that Everest FX does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.44/10. Please be aware of the risk.

Negative Reviews

A trader shared his terrible trading experience on the Everest FX platform at WikiFX. He said he has been scammed by this broker and was unable to withdraw. It is necessary for traders to read reviews left by some users before choosing forex brokers, in case they are defrauded by scams.

Market Instruments

Everest FX advertises that it is a forex broker that mainly offers forex trading. However, more specific information about tradable assets cannot be found on the Internet.

Account Types

There is a Standard account with no minimum initial deposit requirement revealed. Everest FX also supposedly offers multiple Islamic (swap-free) account types.

Leverage

The leverage provided by Everest FX is capped at 1:100. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads

Everest FX claims that the spread on the Standard account starts from 2.2 pips. However, as tested with the platform, the EUR/USD spread was floating around 2.4-2.6 pips.

Trading Platform Available

The platform available for trading at Everest FX is the worlds leading MetaTrader4. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Deposit & Withdrawal

Everest FX provides only a few payment options which include Bank Transfer, Credit/Debit Card and PayPal. Note that bank transfers (especially international ones) may take several business days and include significant fees (depending on the banks involved). However, there is no mention of the minimum deposit and withdrawal amount.

Customer Support

Everest FX‘s customer support can be reached by telephone: 0041225187116, email: info@everestfx.com. You can also follow this broker on social networks such as Twitter and Facebook. However, this broker doesn’t disclose other more direct contact information like the company address that most brokers offer.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.