Overall, EFG HERMES is a trustworthy broker to invest with and utilize its trading services. EFG HERMES offers a Standard Account and accepts any client as long as circumstances adhere to market regulations and have an overall rating of 6 out of 10.
EFG HERMES at a Glance
| 🔎 Broker's Name | EFG HERMES |
| 📍 Headquartered | Cairo, Egypt |
| 📅 Year Founded | 1984 |
| ⚖️ Regulating Authorities | Not regulated |
| 🌐 Countries not accepted for trade | United States |
| ☪️ Islamic account (swap-free) | No |
| 👍 Demo Account | Yes |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | No |
| 🚀 Sign up bonus | Yes |
| 📈 Maximum Leverage | 1:100 |
| 💰 Minimum Deposit | $5 / R 92,12 |
| 💳 Deposit Options | Wire transfer, credit cards |
| 💳 Withdrawal Options | Wire transfer, credit cards |
| 💻 Platform Types | EFG HERMES One EFG HERMES Pro Metatrader 4 |
| 📱 OS Compatibility | Web, Android, iOS |
| 📈 Tradable assets offered | Equities, CFDs on equities, CFDs on indices, CFDs on currencies, CFDs on commodities, Forex and bonds |
| 👨💼 Languages supported on Website | English, Arabic |
| 👥 Customer Support Languages | English, Arabic |
| 📆 Customer Service Hours | 24/5 |
| 👉 Open a account | Click Here |
Min Deposit
USD 5
Regulators
Not Regulated
Trading Platform
MT4, EFG HERMES One, EFT HERMES Pro
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
EFG HERMES Review – 21 key points quick overview:
EFG HERMES Overall
According to research in South Africa EFG HERMES is a premier investment banking firm in Egypt, as well as a market leader in securities brokerage, asset management, investment banking, and private equity in the Arab world.
EFG HERMES was founded in 1984 and clients include governments and corporations as well as institutional and individual investors.
EFG HERMES has offices in Egypt, the United Arab Emirates (UAE), the Kingdom of Saudi Arabia (KSA), Pakistan, Oman, Kuwait, Jordan, Kenya, Nigeria, the UK, the United States, and Bangladesh and is listed on both the Egyptian and London stock exchanges.
Its services are rendered to the Middle East, North Africa, Sub-Saharan Africa, and South Asia regions.
In 1993 EFG HERMES moved into the business of securities brokerage.
EFG HERMES Safety or Security
One of the best benchmarks to measure the safety of a broker like EFG HERMES, is to establish which regulating authorities are watchdogs over its actions.
EFG HERMES is not regulated by a reputable authority but practices secure data transmission – when a user accesses their account on the secure trading platform, the account information is protected by global-standard encryption techniques.
EFG HERMES allows clients to add an additional security layer to verify their identity and if a client signed on and not using the site for several minutes, their session will time out.
EFG HERMES Leverage
Leverage is a facility that enables you to get a much larger exposure to the market you are trading than the amount you deposited to open the trade. Leveraged products, such as forex trading, magnify your potential profit – but also increase your potential loss.
Leverage amount is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that you have $1,000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate to 500:1.
Margin is the amount of collateral to cover any credit risks that may arise during your trading operations. It is expressed as the percentage of position size (e.g. 5% or 1%), and you have to have funds in your trading account to ensure sufficient margin.
For example, on a 1% margin, a position of $1,000,000 will require a deposit of $10,000. The margin level in a trading account needs to be equal to or more than 100% to be able to open new trades, otherwise, your trading account will be fully hedged.
EFG HERMES offers a maximum leverage ratio of 1:100. Leverage or margin trading only applies to CFDs on equities. Cash equities don’t allow trading on margin.
Min Deposit
USD 5
Regulators
Not Regulated
Trading Platform
MT4, EFG HERMES One, EFT HERMES Pro
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
EFG HERMES Accounts
A forex account at EFG HERMES is a trading account that you will hold and that will work similarly to your bank account, but with the difference that it is primarily issued with the purpose of trading on currencies.
Forex Islamic accounts are also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, which is against the Islamic faith.
Often, the number and type of accounts that a trader can open with a broker company differs depending on the country in which it operates and the regulatory authorities under whose jurisdiction it falls.
EFG HERMES offers a Standard Account and accepts any client as long as circumstances adhere to market regulations. Unless there is a specific restriction imposed by the market, or if the client is on a blacklist, anyone can open an account with EFG HERMES.
EFG HERMES offers corporate accounts without a minimum deposit requirement.
EFG HERMES Markets Instruments
The most popular market instruments available from most brokers for trading include:
Forex
Forex trading describes the currency exchange market which refers to the global, decentralized marketplace where individuals, companies, and financial institutions exchange currencies for one another at floating rates.
Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and play a major role in portfolio diversification and risk management. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of economic uncertainty.
Indices
Equity, or stock indices, are actual stock market indexes that measure the value of a specific section of a stock market. They can represent a specific stock market or a specific set of the largest companies in a nation.
Precious metals
The trading of gold and other precious metals, along with crude oil, copper, or petroleum, are hard commodities that play a major role in the commodities market and are contract-based tradable goods.
Energy
The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions, and global economic growth.
EFG HERMES offers trade on equities, CFDs on equities, CFDs on indices, CFDs on currencies, CFDs on commodities, and Forex, and bonds.
EFG HERMES provides access to most major markets in the MENA region, including Egypt, United Arab Emirates, Oman, Kuwait, and Saudi Arabia, and also offers access to global markets, such as the United States and Europe.
The major currencies are the US Dollar (USD), the British Pound (GBP), the Euro (EUR), the Japanese Yen (JPY), and the Swiss Franc (CHF).
EFG HERMES Fees
Cost depends on different factors, like spread and margins, and EFG HERMES clients may also experience different fee structures according to their country or place of residence.
The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move.
Margin is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your trading account.
EFG HERMES charges various commissions, differing from one instrument to another and from one market to another.
EFG HERMES Deposit and Withdrawal
Accounts usually require a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be done in the same ways, but sometimes differ.
In the case of EFG HERMES, you can open an account in any supported currency (USD, EUR, GBP) as a base currency, but you can also buy instruments in any other currency.
Accounts can be funded with Credit cards or Wire transfers. There is no minimum amount required to open an account. You can start trading with any amount.
You can request a transfer to any other supported market, or you can request a transfer to your bank account. The transfer can be requested through any of EFG HERMES platforms, by a recorded phone call, or through an email from the registered email address.
EFG HERMES does not charge withdrawal fees, but bank transfer fees generally apply.
EFG HERMES Trading Platforms
The forex trading platform provided by EFG HERMES to its clients is in essence the software to carry out their trades. Some brokers provide only one, and others quite a few platforms.
A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.
EFG HERMES One
EFG HERMES provides its own proprietary platform, called EFG HERMES One. It is a state-of-the-art trading platform that provides users with one-click access to multiple MENA markets as well as global exchanges, allowing users to trade multiple asset classes across some of the world’s most exciting markets anytime, anywhere.
EFG HERMES Pro
Traders can trade directly from the website and receive live prices and analytical data needed to trade or they can download the trading program EFG HERMES Pro which is compatible with Windows and offers the same features.
Mobile apps for Apple and Android smartphones are available.
Metatrader 4.0 can also be used.
How to open an EFG HERMES Account step by step
Similarly to a bank, to register a forex trading account with EFG HERMES for the first time, you will be required to go through a basic “know your customer” process, which will allow EFG HERMES to ascertain that your submitted details and ensure the safety of your funds and account details.
Step 1 – Visit the EFG HERMES Website
Visit the official website of EFG HERMES.
Step 2 – Click on the “Open an Account” tab
On the middle bottom of the menu, click on the “Open an Account” tab to start the process of opening an account.
Step 3 – Fill out the registration form
Fill out all the required details to finish setting up your account
EFG HERMES Customer Support
Potential traders need to make sure the broker company they chose will offer sufficient support whenever they need it.
In the case of EFG HERMES customers can reach the support team via phone or email and support is available in English and Arabic.
Min Deposit
USD 5
Regulators
Not Regulated
Trading Platform
MT4, EFG HERMES One, EFT HERMES Pro
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
EFG HERMES Education
Before starting to trade, potential clients of EFG HERMES should avail themselves of all possible information and trading skills needed to be successful in the world of forex and commodity trading.
EFG HERMES offers an Introduction to Asset Classes page, which covers all the basics a new trader needs to know. An online guide provides the assistance needed to understand the platform.
EFG HERMES Research
To be able to trade with confidence, traders should do as much as possible research about this kind of speculative trading before commencing, but also preceding every daring deal to ensure that they don’t lose money unnecessarily and trade as profitably as possible.
With EFG HERMES they have access to a research portal on the website with a research library, strategies, and more.
EFG HERMES Research division offers clients coverage of MENA markets, including more than 150 companies representing 60% of the region’s aggregate market capitalization. Topics include equity research, strategy and macro-strategy notes, sector overviews, economic notes, industrial research, and country-specific economic and banking data reports.
EFG HERMES Awards
Being an awarded company instills extra confidence in traders. EFG HERMES can show several awards accumulated during its years in business, including the following:
Best Broker in Egypt – EMEA Finance’s African Banking Awards 2013
Best Broker in Kuwait – EMEA Finance’s Middle East Banking Awards 2013
Best Brokerage House in Egypt, KSA, and Oman – Global Investor/ISF Middle East Awards 2013
EFG HERMES vs FXGlobe vs XM – A Comparison
| 🔎 Broker | 🥇 EFG HERMES | 🥈 FXGlobe | 🥉 XM |
| 💰 Minimum Deposit | $5 / R 92,12 | $250 | $5 USD |
| 📝 Sign-Up Bonus | ☑️ Yes | ☑️ Yes | ☑️ Yes |
| ➕ Max. Leverage | 1:100 | 1:300 | 1:888 |
| 💵 Currency Pairs | - | 50+ | 57 |
| 🚀 Open an Account | 👉 Click Here | 👉 Click Here | 👉 Click Here |
EFG HERMES Best Countries by Traders
| 🌎 Country of Trade | 📌 % of Traders |
| 🥉 Egypt | 87.49% |
| 🥇 Netherlands | 2.08% |
| 🥈 United Arab Emirates | 1.90% |
| 🥉 Ireland | 1.90% |
| 🥇 Nigeria | 1.25% |
EFG HERMES Current Popularity Trend
According to Google Trends, here is an overview of how frequently the search term – “EFG HERMES” is entered into Google’s search engine over a given period of time.
EFG HERMES Customer Reviews
The best customer service ever.
The best customer service ever.
Needs a lot of improvement on the commission prices
EFG HERMES Pros and Cons
| ✔️ Pros | ❌ Cons |
| Established in 1984 | Not regulated |
| Recognised throughout the Arab world | No real choice of accounts |
| Client accounts properly secured | Few funding options |
| State-of-the-art platforms |
Conclusion
EFG HERMES is a Forex broker and an investment bank with more than 20 000 clients across the middle east, Europe, and the United States. They provide convenient market and banking services with trading a wide range of products from Forex, Stocks, Commodities, and Indices with a user-friendly and functional trading platform.
Their support team is reliable and professional.
Min Deposit
USD 5
Regulators
Not Regulated
Trading Platform
MT4, EFG HERMES One, EFT HERMES Pro
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Disclaimer
EFG HERMES warns potential customers that Forex and CFDs trading always carries a high risk and may not be suitable for all investors.
Before deciding to trade with EFG HERMES, potential traders are advised to carefully consider their investment objectives, financial situation, needs, and level of experience before investing money they cannot afford to lose.
EFG HERMES warns that margin trading involves the potential for profit as well as the risk of loss and that movements in the price of foreign exchange and commodities are very unpredictable, hence EFG HERMES cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.
Frequently Asked Questions
What is EFG Hermes, and what services do they offer?
EFG Hermes is a leading financial services company in the Middle East and Africa. They offer a range of services including asset management, investment banking, securities brokerage, research, private equity, and custody.
How reliable is EFG Hermes?
EFG Hermes has a strong reputation for reliability, and their track record speaks for itself. They have been in business for over 30 years and have a presence in 12 countries across the Middle East, North Africa, and Europe.
What is the process for opening an account with EFG Hermes?
To open an account with EFG Hermes, you will need to provide certain documents such as your identification card, proof of address, and bank statement. You can apply online or visit one of their branches to complete the process.
How can I invest in the stock market with EFG Hermes?
To invest in the stock market with EFG Hermes, you can open a brokerage account and start trading. They provide a range of tools and research to help you make informed decisions about your investments.
Does EFG Hermes offer Islamic investment products?
Yes, EFG Hermes offers a range of Islamic investment products that comply with Shariah law. These include mutual funds, structured products, and equity products, among others.
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