NOTE: EverFX Globals official site - https://everfxglobal.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
What is EverFX Global？
EverFX Global, a subdivision of ICC Intercertus Capital Ltd, is a forex and CFD broker founded in 2016 and registered in the Cayman Islands. It provides traders with access to a wide range of financial instruments and a high leverage of up to 1:500. While its headquarters are in Cyprus, EverFX Global has various divisions with different licenses, each imposing specific trading conditions. This structure leads to restrictions on who can trade with EverFX Global, as the company does not accept residents of the USA, Belgium, Canada, Iran, and other countries.
The company claims to operate under the regulation of CIMA. However, the CIMA regulation is suspected to be a clone.
Pros & Cons
Pros:
More than 1,000 trading instruments: EverFX Global offers a wide range of financial instruments, including currency pairs, cryptocurrencies, commodity assets, stocks, and indices, catering to diverse preferences.
Reliable trading platform: EverFX Global provides access to the MT4 trading platform, widely used and trusted by traders around the world for its stability and performance.
Cons:
CIMA regulation suspected fake clone: EverFX Global claims to operate under the regulation of CIMA, which is suspected to be a clone. A suspected clone regulator casts doubt on the company's legitimacy and safety of funds.
Non-functional official website: EverFX Global's official website is currently not functional, which hinders transparency and access to crucial information.
Regional restrictions: EverFX Global does not accept residents of the USA, Belgium, Canada, Iran, and other countries. This limitation can be a drawback to accessibility.
Is EverFX Global Safe or a Scam？
EverFX Global, licensed with a Common Financial Service License of No.1444866, claims to operate under the regulation of the Cayman Islands Monetary Authority (CIMA). But the license is suspected to be a clone. This suggests risks to your trading safety. Furthermore, the website of EverFX Global is not functional currently, for which we can not get full and detailed information about its operation. And there is a piece of exposure labeled as unable to withdraw to EverFX Global on WikiFX. So we think EverFX Global is highly likely to be unsafe.
Market Instruments
EverFX Global's offering of currency pairs, cryptocurrencies, commodity assets, stocks, and indices provides traders with a diverse range of trading opportunities across different markets and asset classes.
Currency Pairs: EverFX Global allows traders to trade a variety of currency pairs, including major pairs, minor pairs, and exotic pairs. Currency pairs are traded in the forex market and represent the exchange rate between two currencies.
Cryptocurrencies: EverFX Global provides access to a range of cryptocurrencies. Cryptocurrencies are digital or virtual currencies that use cryptography for security and operate on decentralized networks based on blockchain technology.
Commodity Assets: EverFX Global offers trading in commodity assets. Commodity trading allows traders to speculate on the price movements of these physical goods.
Stocks: EverFX Global enables traders to trade stocks of publicly traded companies. Stock trading involves buying and selling shares of companies, allowing traders to profit from changes in the stock price.
Indices: EverFX Global offers trading in indices. Indices represent a portfolio of stocks or other assets and are used as a benchmark to measure the performance of a specific market or sector.
Account Types
EverFX Global provides traders with three categories of accounts, which are influenced by the jurisdiction of the trader and the broker's office. These jurisdictions include CySEC, FSA, and CIMA. The accounts under the CIMA licenses are as below. The types of broker accounts with FSA and CIMA licenses do not differ. And in the category with the CySEC license, there are three accounts instead of four, the tariff plan has been changed also.
The Beginner account is designed for new traders entering the markets, with a minimum deposit requirement of $250.
For traders with some experience, the Standard account requires a minimum deposit of $2,500. The Standard account is suitable for traders looking for better trading conditions and potentially larger trade sizes.
The Premium account is designed for more experienced traders who require even tighter spreads and are willing to deposit a minimum of $10,000.
For high-net-worth individuals and institutional traders, EverFX Global offers a VIP account, which requires a minimum deposit of $50,000.
Leverage
EverFX Global offers leverage options that vary depending on the account type. Leverage allows traders to control larger positions in the market with a relatively small amount of capital.
The Beginner account offers leverage of up to 1:500, which means that for every $1 in the trader's account, they can control up to $500 in the market. The Standard, Premium, and VIP accounts also offer leverage of up to 1:500, 1:400, and 1:200 respectively, with the VIP account offering the lowest leverage.
Spreads & Commissions
The Beginner account has a spread starting from 1.5 pips, making it suitable for new traders who may prefer a simpler fee structure. The Standard account offers a slightly tighter spread, starting from 1.2 pips. The Premium account provides even tighter spreads, starting from 0.8 pips, and is tailored for more experienced traders who require better pricing and execution. Finally, the VIP account offers the tightest spreads, starting from 0.0 pips.
Spreads generally decrease as the account tier increases, with the VIP account offering the lowest spread of 0.0 pips. All account types have withdrawal commissions, which adds extra costs to your transactions.
Trading Platforms
EverFX Global offers two main trading platforms for its clients. - Status is the broker's proprietary trading platform.
Status is designed to be a simplified browser-based platform that allows for one-click trading with minimal technical tools required.
MT4 is a widely used and highly regarded platform in the industry. It is known for its advanced charting tools, technical analysis capabilities, and automated trading features. It offers a more comprehensive set of tools and functionalities compared to Status, making it suitable for traders who require more advanced trading features.
Deposits & Withdrawals
EverFX Global offers a variety of deposit and withdrawal options, including Visa, MasterCard, Neteller, Skrill, and bank transfers.
Accepted payment currencies are EUR, USD, GBP, and AUD. However, AUD is not available for CySEC accounts. Additionally, when replenishing an account with Visa or MasterCard, AUD is not provided as a currency option.
Withdrawal commissions range from 1%-3% depending on the payment system used. Withdrawal times are typically 1 business day, except for bank transfers, which will take up to 5 days to process.
Customer Service
EverFX Global provides a range of customer support options to assist traders with their inquiries and issues. Traders can contact customer support via telephone at 00134 576 955 71 for direct assistance. Additionally, support@everfxglobal.com is available for traders to reach out via email, allowing for written correspondence and documentation of communication.
In addition to traditional communication channels, EverFX Global also maintains a presence on social media platforms such as Facebook and Twitter.
Conclusion
In summary, EverFX Global offers a diverse range of trading instruments and competitive account options. However, there are uncertainties regarding its regulatory status suspected to be a clone, and the non-functionality of its official website. We advise you to consider these factors carefully before trading with EverFX Global and seek professional assistance if necessary.
Frequently Asked Questions (FAQs)
Q: Is EverFX Global regulated？
A: It operates with the regulation of CIMA, which is suspected to be a clone.
Q: What trading platforms does EverFX Global offer？
A: MT4 and its proprietary trading platform called Status.
Q: What is the minimum deposit for EverFX Global？
A: $250.
Q: What are the available payment methods for deposits and withdrawals？
A: EverFX Global offers several payment methods, including Visa, MasterCard, Neteller, Skrill, and bank transfers.
Q: Are there any restrictions on trading with EverFX Global？
A: Yes, EverFX Global does not accept residents of the USA, Belgium, Canada, Iran, etc.
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 provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
2024-01-25 17:52
2023-04-24 17:21
