EnclaveFX-Overview of Minimum Deposit, Leverage, Spreads

General Information

Founded in 2018, EnclaveFX, a trading name of EnclaveFX Limited, is allegedly a broker based and registered in the UK that provides its clients with the industry-standard MetrTrader5 trading platform, leverage up to 1:500, variable spreads on over 120 tradable financial products, as well as a choice of eight different live account types and 24/5 customer support service.

Market Instruments

EnclaveFX advertises that it offers more than 120 trading instruments across a wide range of asset classes like forex, CFDs, metals and cryptocurrencies.

Account Types

There are eight live trading accounts offered by EnclaveFX, apart from demo accounts, namely Micro, Standard, Silver, Gold, Platinum, Diamond, ECN and ECN Pro. Opening a Micro account requires the minimum initial deposit amount of only $10, while the other seven account types with the much higher minimum initial capital requirements of $500, $1,000, $1,200, $1,500, $1,800, $2,000 and $2,500 respectively

Leverage

The maximum leverage ratio provided by EnclaveFX is much higher than most brokers, up to 1:500. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads & Commissions

Spreads and commissions are influenced by what type of accounts traders are holding. EnclaveFX reveals that the spread on the Micro account starts from 2.2 pips, the clients on the Standard account can experience spreads from 1.8 pips, the Silver account with spreads from 1.5 pips, the Gold account with spreads from 1.2 pips, the Platinum account with spreads from 1.0 pips, the Diamond account with spreads from 0.7 spreads, while the ECN and ECN Pro account types can enjoy raw spreads from 0 pips. As for commissions, the broker will charge a commission of $10 for the ECN account, the ECN Pro account with a $7 commission, while the left account types with no commission.

Trading Platform Available

When it comes to trading platforms available,EnclaveFX gives traders the worlds most trusted and popular Metatrader5 trading platform, available for desktop, iOS and Android. MT5 provides 3 types of charts, 9 timeframes and 24 analytical objects, advanced technical analysis tools, automated trading functions (EA) and mobile applications, as well as a user-friendly interface, allowing traders to view their orders, transactions, account details, and keep abreast of the latest market conditions. While with the MT5 Mobile app, trading can be done from anywhere and at any time through the right mobile terminals.

Tools

Also, EnclaveFX provides its clients with some trading tools, such as an Economic Calendar and forex calculators, whose interfaces seem to be quite simple and easy to use, just as the following screenshots show.

Deposit & Withdrawal

EnclaveFX accepts deposits and withdrawals with Bitcoin, India Cash and Local Bank. The minimum deposit and withdrawal amounts are both $50. As for the processing time of deposit and withdrawal requests, 1-3 hours for Bitcoin, 3-30 minutes for India Cash and approximately 15 minutes for Local Bank deposits and approximately 4-5 hours (sometimes may be up to 24 hours) for Local Bank withdrawals.

Customer Support

EnclaveFXs customer support can be reached by telephone: +447451200066, email: support@enclavefx.com or send messages online to get in touch. Besides, you can also follow this broker on some social media platforms like Facebook. LinkedIn, Twitter, Instagram, YouTube and Telegram. Company address: 2nd Floor, College House, 17 King Edwards Road, RUISLIP, London, HA4 7AE, UNITED KINGDOM.