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No Regulation
Score
1.48 /10
Danger
ECHForex
2-5 yearsSuspicious Regulatory License
Suspicious Scope of Business
High potential risk
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Comparison
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Exposure
Open Account
Website
Score
Regulatory Index0.00
Business Index6.77
Risk Management Index0.00
Software Index4.00
License Index0.00
Open Account
Website
Licenses
No valid regulatory information, please be aware of the risk
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
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Warning: Low score, please stay away!
Previous Detection :
2024-12-26
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
| 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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