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No Regulation
Score
1.53 /10
Danger
APOLLOFX
5-10 yearsSuspicious Regulatory License
Suspicious Scope of Business
High potential risk
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Comparison
Expose
Exposure
Open Account
Website
Score
Regulatory Index0.00
Business Index7.19
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
open now
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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
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 | ❌ |
| 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.
FAQs
Is ApolloFX safe?
No, valid regulation can make brokers be under control. But ApolloFX doesn't hold any licenses.
Is ApolloFX good for beginners?
No, it is not regulated and has many potential risks.
Does ApolloFX truly offer commission-free trading?
No, Silver Variable (MT4) account needs $10 and Gold ECN account needs 1.5 pips for commission.
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