31FX Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-10-12 15:32

Abstract：31FX is an unregulated UK-based Forex and CFD broker. It offers all kinds of live accounts with flexible leverage ratios. The minimum deposit requires €500 and the spread is from 0.1 pips.

31FX Review Summary
Founded Year	2019
Registered Country	United Kingdom
Regulation	No Regulation
Market Instruments	Forex and CFDs
Demo Account	✔
Leverage	Ranges from 1:100 (Basic, Bronze) to 1:1000 (Diamond)
Spread	From 0.1 pips
Trading Platforms	Web and Mobile Platform
Minimum Deposit	€500
Customer Support	Phone: +442080898655
Customer Support	Email: support@31fx.co

31FX Information

　　31FX is an unregulated UK-based Forex and CFD broker. It offers all kinds of live accounts with flexible leverage ratios. The minimum deposit requires €500 and the spread is from 0.1 pips.

Pros & Cons

　　31FX offersover 100 countries. The broker offers a variety of account types, with spreads starting at 0.1 pip and high leverage up to 1:1000 in the Diamond account. Moreover, all accounts support Expert Advisors. However, the absence of regulation raises concerns about fund security and trading fairness and it is not regulated well.

Pros	Cons
Variety of Account Types	No Regulation
Competitive Spreads Starting at 0.1 pip	High Deposit for Certain Accounts
High Maximum Leverage up to 1:1000 on the Diamond Account	Lack of Client Fund Protection
Support for Expert Advisors across All Account Types	Limited Transaction Methods
Youtube Tutorials	Limited Customer Support Channels

Is 31FX Legit?

　　As it does not operate their business under regulatory frameworks, traders are more prone to be scammed.

What Can I Trade on 31FX?

　　31FX trades on major currency pairs, and minor and exotic pairs. For CFD trading, 31FX allows trading in the Dow Jones, NASDAQ, and FTSE 100. They also provides Commodity CFDs, including gold, silver, oil, and natural gas.

Account Type

　　This broker offers six distinctive trading accounts:

Account Type	Minimum Deposit
Basic	€500
Bronze	€5,000
Silver	€25,000
Gold	€50,000
Platinum	€100,000
Diamond	€150,000

Leverage

　　31FX provides a variety of leverage options across its account types:

Account Type	Maximum Leverage
Basic	1:100
Bronze	1:100
Silver	1:200
Gold	1:400
Platinum	1:500
Diamond	1:1000

Spreads & Commissions

　　31FX offers specific spreads and commissions for each accounts.

Account Type	Minimum Spread	Commissions
Basic	0.1 pips	$12 per lot
Bronze		$10 per lot
Silver		$6 per lot
Gold		$2 per lot
Platinum		None
Diamond		None

Trading Platform

　　31FX only offers a web-based trading platform. For novices, they should register demo accounts to get familiar with their trading platform.

Deposit & Withdrawal

　　For deposit and withdrawal methods, 31FX accepts bank transfers and credit/debit cards.

Customer Support

　　31FX provides customer support to its clients via a contact number and email. You can call the support team at +442080898655 send their queries to support@31fx.co for email support.

The Bottom Line

　　Overall, 31FX offers various tradable products with diverse account types, low spreads and high leverage. However, there are problems including its unregulated status and inaccessible website.