EverFX Review

Overall EverFX can be described as high risk and has an overall rating of 4 out of 10. EverFX offers a maximum leverage ratio of 1:400 with a minimum deposit amount of $250/R4 000 and is regulated by CySEC and FSA.

EverFX at a glance

Overall Rating

• 2.1/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 250

Regulators

CySEC, FSA, CIMA

Trading Platform

MT4, MT5

Crypto

Yes

Total Pairs

50

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

EverFX Review – 14 key points quick overview:

1. EverFX Overview
2. EverFX Safety and Security
3. EverFXPros and Cons
4. EverFX Leverage
5. EverFX Account Types
6. EverFX Market Instruments
7. EverFX Fees and Spreads
8. EverFX Deposit and Withdrawal
9. EverFX Trading platforms
10. EverFX  vs TigerWit vs NSFX – A Comparison
11. EverFX Current Popularity Trend
12. Conclusion
13. Disclaimer
14. Frequently Asked Questions?

EverFX Overview

According to research in South Africa, EverFX is an international online broker, providing access to over 130 tradable instruments from 6 asset classes for both retail and institutional investors.

The company operates successfully around the globe and places great emphasis on providing professional and reliable services to all its clients. The company’s platform is built on diversity, flexibility, transparency and open, reasonable pricing structures.

The company creates long-lasting relationships with its clients and aims to empower them with the necessary tools, knowledge, and support to enjoy and excel in their trading endeavours.

The company offers the popular MT4 and MT5 forex trading platform, as well as over 50 forex currency pairs, indices, gold, silver, oil, bitcoin and other cryptocurrencies for a variety of personal investment and trading options.

However, potential traders should note that EverFX is owned by ICC Intercertus Capital (Cayman) Limited, which is incorporated offshore on the Cayman Islands.

There was significant concern in the past regarding the company’s regulation by the local Cayman Islands Monetary Authority (CIMA), which is not as reputable as those under which many other brokers operate, such as the highly regulated FCA.

It seems that the company recently underwent a reform in its regulatory approach and has come under the regulation of certain European regulatory bodies.

EverFX Safety and Security

As already noted, EverFX is regulated by the Cayman Islands Monetary Authority (CIMA), which is not a well-recognized regulatory body. Under the law of the Cayman Islands, all licensed brokers should have a minimum fixed capital of at least 100 000 Cayman Islands Dollars or approximately USD 120 000.

On the other hand, brokers which are regulated in regions such as the EU or the UK are required to have an operational capital of no less than EUR 730 000, which makes this broker particularly lax in their capital requirements.

Added to this, regulatory complications generally arise with such offshore brokers as regional regulatory bodies typically lack the capacity to properly oversee all the activities of an internationally operative broker. EverFX also appears on a few noted scam websites, which does not contribute to their reputation as a legitimate broker.

However, the company has recently adjusted this issue and now claims to be regulated by the Cyprus Securities and Exchange Commission (CySEC), Cayman Islands Monetary Authority (CIMA), and the Seychelles Financial Services Authority (FSA).

The company does make all of its legal documentation available on its website, which is an added level of transparency which some other brokers do not provide.

EverFXPros and Cons

EverFX Leverage

EverFX has the distinct advantage of offering its traders a generous leverage as high as 1:500, which is not as widely available from many other brokers, especially those regulated under the EU bodies.

However, this should also be regarded in the light of the company’s aforementioned regulatory status, where lax local governing bodies often allow offshore brokers to provide high margins.

In fact, the European Securities and Markets Authority (ESMA) capped the maximum leverage allowed with forex transactions for retail customers at 1:30, following similar steps by the regulatory authorities in the U.S., Canada and Japan.

This is specifically because, while leverage is a useful tool which allows traders to maximize their potential profits, it is also a risky application which can result in heavy losses. Traders who are looking to invest large sums of money should be sure they are fully equipped to handle the risk involved with using the high leverage offered by EverFX.

Overall Rating

• 2.1/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 250

Regulators

CySEC, FSA, CIMA

Trading Platform

MT4, MT5

Crypto

Yes

Total Pairs

50

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

EverFX Account Types

EverFX offers several different account types, each with specific benefits. The size of the initial deposit determines which tier the account belongs to, as well as which benefits are available to clients.

Traders can shift their account to the next level by increasing their deposit amount. EverFX’s account offering consists of the Entry, Standard, Premium and VIP accounts.

Entry Account

The company’s Entry Account includes the following specifications:

Standard Account

The company’s Standard Account comes with the following specifications:

Premium Account

The company’s Premium Account comes with the following specifications:

VIP Account

The company’s VIP account comes with the following specifications:

EverFX Market Instruments

EverFX offers 50 trading pairs for the following market instruments:

Stocks

Forex

Energies

Cryptocurrencies

Indices

Metals

However, it should be noted that on the company’s demo account there are only 23 major currency pairs and two CFDs on silver and gold.

EverFX Fees and Spreads

EverFX’s benchmark EUR/USD spread floats at about 2 pips, which is at least half a pip higher than the spreads offered by many other brokers. Added to this, the company reserves the right to charge traders a maintenance fee without ever specifying the exact amount.

As noted in the description of its accounts, the company offers several bonuses, although the company does not make its bonus conditions clear. Traders should be careful when subscribing for trading bonuses, as they are often linked to additional withdraw conditions, such as a minimum trade volume requirement.

Overall Rating

• 2.1/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 250

Regulators

CySEC, FSA, CIMA

Trading Platform

MT4, MT5

Crypto

Yes

Total Pairs

50

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

EverFX Deposit and Withdrawal

Depositing funds with EverFX can be done through a variety of methods and are processed almost immediately. The company does not charge fees on deposits.

The company processes withdrawals within 1 working day. The company does apply fees for credit card and wallet withdrawals and there might be a fee charged by the Banks, for which the company does not bear responsibility.

Deposits and withdrawals can be made through the following payment methods:

Credit cards:

Visa

Mastercard

Currency: USD, EUR, GBP

E-Wallets:

Trio

Pay Trust

FasaPay

Perfect Money

Currency: RUB (TRIO), THB, VND, MYR, IDR, USD, EUR, IDR, GBP

Bank Transfer:

Currency: USD, EUR, GBP

EverFX Trading platforms

The company offers a variety of trading platforms, including the ever popular MetaTrader4 and MetaTrader5, as well as the Webtrader platform.

MetaTrader4

When it comes to online trading, one platform stands above the rest. MetaTrader4 is by far the best-known and most used trading platform in the world.

Since its launch in 2005, it has been attracting traders with its unique blend of accessibility and professional features. Whatever the trading style, whatever the time horizon, MT4 has a variety of tools which enhance the trading experience.

These include chart multiple symbols across a variety of asset classes simultaneously. Traders can also use a variety of custom indicators (including the company’s exclusive custom indicator from Trading Central) and a wealth of other professional trading tools.

MetaTrader5

The younger sibling of MetaTrader4, MetaTrader5 was officially launched in the summer of 2010 with the aim of offering traders more. This long-awaited addition to the MetaQuotes family comes with natively supported assets, more execution options, more order types, more indicators, and more graphical objects, to name a few.

MT5 also comes with a completely revamped scripting language and development environment, offering power users an incredible toolset for building their own trading bots and indicators.

WebTrader Status

Status is designed to be intuitive, the idea being that anyone should be able to start up the platform and quickly get to grips with it. It’s loaded with a variety of pre-set technical indicators and drawing tools ready to use, right out of the box.

Status can be accessed from any device. The smooth web-based interface delivers the same great charting experience from desktop or trading on the go from a smartphone.

EverFX  vs TigerWit vs NSFX – A Comparison

EverFX Current Popularity Trend

As According to Google Trends, here is an overview of how frequently the search term – “EverFX ” is entered into Google’s search engine over a given period of time.

Overall Rating

• 2.1/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 250

Regulators

CySEC, FSA, CIMA

Trading Platform

MT4, MT5

Crypto

Yes

Total Pairs

50

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

Conclusion

There are several notable advantages to trading with EverFX, including their popular trading platforms and the comprehensive Trading Central research tool, which can be installed directly as a plug-in to the MT4 platform.

While the company faced some heat in the past regarding its regulatory status in the Cayman Islands, it has recently come under the auspices of reputable regulatory bodies, including the FSA. However, EverFX does operate as an offshore company, meaning that it is held accountable by the laws of the Cayman Islands, which are lax and poorly applied at best.

This is evidenced by the company’s high leverage, which is not possible in the EU for its high risk potential. Potential traders should keep this in mind when deciding whether to trade with the company, which does offer an excellent range of tools and platforms in order to enhance the overall trading experience.

Disclaimer

ICC Intercertus Capital (Cayman) Limited is authorised and regulated by the Cayman Islands Monetary Authority (CIMA), with license number 1444866. The card transactions are processed by its subsidiary entity, Digital Age Solutions Limited, which is located at Antheon 2, Kato Polemidia, 4151 Limassol, Cyprus and with registration no. HE 388419.

ICC Intercertus Capital (Seychelles) Limited is authorized and regulated by the Financial Services Authority Seychelles (FSA), with license number SD036. The card transactions are processed by its subsidiary entity, GAAM Digital Progressus Ltd, which is located in Antheon 2, Monovoliko 4, Kato Polemidia, 4151 Limassol, Cyprus and with registration no. HE403613

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

EverFX does not offer contracts for difference to residents of certain jurisdictions such as the USA, Belgium, Iran, Canada, North Korea, etc, According to research in South Africa.

Frequently Asked Questions?

Is EverFX a fake or scam?

EverFX is cited on a number of scam websites. As offshore broker regulated by CIMA, it is lax in its capital requirements, casting further doubt on its legitimate standing.

What leverage is offered by EverFX?

The broker offers its traders leverage as high as 1:500.

What market instruments can I trade with EverFX?

You can trade 50 trading pairs with Stocks, Forex, Energies, Cryptocurrencies, Indices and Metals.

How long does EverFX take to process withdrawals?

Withdrawals are processed within 1 working day.

What trading platforms are offered by EverFX?

Metatrader 4, Metatrader 5 and Webtrader platform.