Connext

Connext Information

Connext is a global CFD broker. It offers trading in forex, precious metals, energies and cryptocurrencies via the MT5 platform, with leverage of up to 1:1000. Account types include Micro Accounts, Ultra Accounts (0.6 pip spread, $6 commission per lot), No Swap Accounts for Islamic traders, and demo accounts. Features such as copy trading and multi-device MT5 access are also provided.

Pros and Cons

Is Connext Legit?

The Seychelles Financial Services Authority (FSA) offshore regulates Connext with license number SD155. Although the platform claims to be regulated by the FCA, a top UK regulatory authority, it has not provided actual proof. It is recommended that traders prioritize brokers regulated by top-tier regulatory authorities for their transactions.

What Can I Trade on Connext?

Connext provides forex, precious metals, energy, and cryptocurrencies, specifically including over 60 major and minor currency pairs (such as EUR/USD, GBP/JPY), gold, silver, crude oil (such as UKOIL, USOIL), natural gas, Bitcoin, Ethereum, Monero, and more.

Account Type

Connext Fees

Spread costs: The minimum spread for major currency pairs is 0.6 pips (Ultra account), and the spread for gold is 1.5-2.3 pips (ULTRA GOLD account).

Commission: $6 per lot for Ultra, $3 per lot for ULTRA GOLD.

Swap: Overnight holding will generate interest for all accounts except the No Swap account, with the interest being positive or negative depending on the long/short position.

Leverage

The leverage can be as high as 1:1000. From 00:00 GMT+2 on April 1, 2024, the new margin rates for financial products will be as follows:

Margin

Trading Platform

Connext provides MetaTrader 5 (MT5), which supports multi-terminal synchronization, such as desktop, mobile, and web terminals. It also supports the EA intelligent trading system, making it suitable for Experienced traders.

Deposit and Withdrawal

Connext offers a minimum deposit of only $10 and it does not charge any deposit fees. However, other details such as payment options, processing time, and accepted currencies, are not clear.

Copy Trading

Through the built-in Copy mechanism of the platform, users can replicate the strategies of over 6,000 professional traders worldwide, making it suitable for traders lacking time or experience.