APOLLOFX

APOLLOFX | 2024-09-19 18:43

Abstract：APOLLOFX provides multiple account types for different levels of traders. However, it is not regulated by any financial authorities. Though APOLLOFX provides two trading platforms, MT4 and Sirix, which is popular among traders, it lacks tansparency even the minimum deposit is not metioned.

APOLLOFX Information

APOLLOFX provides multiple account types for different levels of traders. However, it is not regulated by any financial authorities. Though APOLLOFX provides two trading platforms, MT4 and Sirix, which is popular among traders, it lacks tansparency even the minimum deposit is not metioned.

Pros and Cons

Pros	Cons
Various account types	Wide spreads
MT4 and Sirix trading platform	Not regulated
	Lack of transparency

Is APOLLOFX Legit?

APOLLOFX was founded in Seychelles in 2024. However, it is not regulated by the local financial authority, Seychelles Financial Services Authority (SFSA), which means APOLLOFX doesn't need to obey the rules of authorities.

What Can I Trade on APOLLOFX?

Tradable Instruments	Supported
Currency pairs	✔
Forex	✔
Stocks	✔
Indices	✔
CFDs	✔
Commodities	✔
Metals	❌
Otions	❌

Account Type

There are five account types for ApolloFX: Silver Variable (MT4), Silver Variable (Sirix), Silver fixed, ECN and Gold ECN. The demo account is not mentioned. And the minimum trade size is 0.01. Silver Variable (MT4), Silver fixed and ECN accounts are available on MT4, while Silver Variable (Sirix), Silver fixed and Gold ECN accounts support Sirix platform.

Account Type	Minimum Trade Size	Platform
Silver Variable (MT4)	0.01	MT4
Silver Variable (Sirix)		Sirix
Silver Fixed		MT4 & Sirix
ECN		MT4
Gold ECN		Sirix

Leverage

ApolloFX's leverage depends on the account types. Only the Gold ECN account has the maximum leverage of 1:100, and the others is 1:200. Bear in mind that the higher the leverage, the greater the risk of losses in excess of initial investments.

Spread & Commisssion

Except the spread of Gold ECN at 0.6 pips, other accounts' spreads are close to 2 pips or 3 pips, which is not competitive in the industry.

Account Type	Spread	Commission
Silver Variable (MT4)	1.9 pips	$10
Silver Variable (Sirix)	2.4 pips	Not mentioned
Silver Fixed	2.4 pips	Not mentioned
ECN	2.8 pips	Not mentioned
Gold ECN	0.6 pips	1.5 pips

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
MT4	✔	Web, Mobile, Desktop	Beginners
Sirix	✔	Web	Beginners

Deposit and Withdrawal

Traders can deposit and withdraw funds through bank wire transfer, credit/debit cards, and e-wallets for free. However, the minimum deposit and withdrawal amount are not mentioned.

Customer Service

Contact Options	Details
Phone	❌
Email	partnerships@apollomarkets.co.uk
Support Ticket System	❌
Online Chat	❌
Social Media	❌
Supported Language	❌
Website Language	❌
Physical Address	❌

The Bottom Line

Overall, ApolloFX is not worth trading. Safety is always the most important thing for traders to choose a broker. However, it is not regulated and lacks much crucial information like minimum deposit and withdrawal. What's more, the spread of ApolloFX is wider than other reputed brokers, which will increase the trading cost.