ECHForex Spreads, leverage, minimum deposit Revealed
WikiFX | 2024-11-11 17:44Abstract：ECHForex is a broker. The tradable instruments with a maximum leverage of 1:500 include Brent crude oil, Dow Jones, bitcoin, EUR/USD, and Boeing. ECHForex is still risky due to its unregulated status, high leverage, and inaccessible office websites.
| ECHForexReview Summary | |
| Founded | 2-5 years |
| Registered Country/Region | Australia |
| Regulation | Unregulated |
| Market Instruments | Brent Crude Oil, Dow Jones, Bitcoin, EUR/USD, and Boeing |
| Demo Account | Not mentioned |
| Leverage | Up to 1:500 |
| Spread | Not mentioned |
| Trading Platform | Not mentioned |
| Min Deposit | Not mentioned |
| Customer Support | Phone: +44(0)130 23 481 |
| Email: support@echforex.com | |
ECHForex Information
ECHForex is a broker. The tradable instruments with a maximum leverage of 1:500 include Brent crude oil, Dow Jones, bitcoin, EUR/USD, and Boeing. ECHForex is still risky due to its unregulated status, high leverage, and inaccessible office websites.
Pros and Cons
| Pros | Cons |
| Leverage up to 1:500 | Unregulated |
| Various instruments | Inaccessible office website |
| Unspecific information |
Is ECHForex Legit?
ECHForex is not regulated, even though it claims to be regulated by ASIC, DFSA, SCB, and FCA. However, an unregulated broker is not as safe as a regulated one.
What Can I Trade on ECHForex?
Traders can choose different investment directions because the broker provides Brent crude oil, Dow Jones, bitcoin, EUR/USD, and Boeing.
| Tradable Instruments | Supported |
| Brent Crude Oil | ✔ |
| Dow Jones | ✔ |
| Bitcoin | ✔ |
| EUR/USD | ✔ |
| Boeing | ✔ |
| Shares | ❌ |
| ETFs | ❌ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
Account Type
ECHForex has account types: Base, Advanced, and Professional. Traders who want both low spreads and low leverage can choose a base account and those with sufficient budget can open a professional account.
| Account Type | Base | Advanced | Professional |
| Minimum deposit | $500 | $1000 | $10000 |
| Leverage | 1:20 | 1:500 | 1:500 |
Leverage
The maximum leverage is 1:500 meaning that profits and losses are magnified 500 times.
Customer Support Options
ECHForex supports 24-hour personal support and traders can contact ECHForex via phone and email.
| Contact Options | Details |
| Phone | +44 (0) 130 23 481 |
| support@echforex.com | |
| Supported Language | English/Chinese |
| Website Language | English/Chinese |
| Physical Address | 23, Sturt Street, Melbourne, Vlc 3008, Australia |
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