WHO IS SVSFX?
According to research in South Africa, SVSFX a UK-based online financial trading provider that predominantly specializes in the trading of Forex and CFDs for both retail and institutional traders.
Found in 2003, SVSFX is owned and operated by SVS Securities PLC which is located in London, UK. SVSF is strictly regulated by the FCA and offers competitive trading conditions which is attractive for traders who are on an advance trading level.
SVSFX is also known for the provision of their highly demanded API which makes use of integration which is based on FIX 4.4 protocols and is superiorly comprehensive.
Traders should note that SVSFX’s parent company, SVS Securities PLC, has been under special administration since August 2019 and there is currently no update on the duration of this.
Min Deposit
USD 1
Regulators
FCA
Trading Platform
MT4
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
SAFE OR SCAM?
When evaluating different brokers, it is imperative for traders to research and thoroughly compare brokers firstly based on regulation before considering several other factors.
SVSFX is regulated by one of the strictest and most demanding regulatory entities, namely the FCA and part of the compliance with procedures, rules and regulations dictates that client funds be kept in segregated accounts, separate from the company funds.
SVSFX is also a member of the London Stock Exchange, which further substantiates the legitimacy of this broker and provides traders with peace of mind that their funds will be secured should they use this broker to facilitate trades.
In addition, SVSFX is also a member of the Financial Services Compensation Scheme, or FSCS, which provides traders with further fund security and compensation should SVSFX ever be declared insolvent or should it be unable to meet its financial obligations.
PRO AND CONS
| PROS | CONS |
| 1. Well regulated by FCA | 1. SVSFX’s parent company is currently under special administration |
| 2. Member of the London Stock Exchange | 2. High minimum deposit on some accounts |
| 3. Member of the FSCS | 3. Only a few payment methods supported |
| 4. Caters for professional and institutional clients | 4. Deposit currencies not indicating |
| 5. Provision of API based on FIX 4.4 | 5. High deposit fees on Credit Cards and Neteller |
| 6. Leverage of up to 1:400 | 6. Spreads much higher than what other brokers offer |
| 7. Variety of tradable financial instruments | |
| 8. Commission-free trading on most accounts |
LEVERAGE
A great majority of Forex brokers offer the leveraged trade of Forex despite the initial deposits of traders which means that traders are allowed to borrow from the broker in order to open positions larger than the balance of their trading account.
This allows traders with the opportunity to generate substantial amounts of profit, but it also increases the risk of losses that can exceed the initial deposit of the trader if negative protection balance is not offered along with other risk management tools.
The maximum leverage is determined by the broker, but it is strictly subjected to what the regulatory entity through which the broker is regulated and authorized.
SVSFX provides traders with leverage of up to 1:400 but this may depend on the type of account the trader uses along with the financial instrument being traded.
ACCOUNTS
SVSFX offers traders a choice between numerous accounts which cater for a variety of traders. Even though the broker is more aligned with the needs of professional traders, some provision is still made for beginner traders.
SVSFX’s accounts and their features can be viewed as follows:
- WebTrader Mini Account – minimum deposit of $1, leverage up to 1:400, a typical average spread of 2.5 pips on EUR/USD, and commission-free trading.
- WebTrader Standard Account – minimum deposit of $100, leverage up to 1:400, a typical average spread of 1.7 pips on EUR/USD, and commission-free trading.
- WebTrader VIP – minimum deposit of $25,000, leverage up to 1:400, a typical average spread of 1.0 pips on EUR/USD, and commission-free trading.
- MT4 Plus – minimum deposit of $1, leverage up to 1:400, a typical average spread of 1.9 pips on EUR/USD, and commission-free trading.
- MT4 Pro – minimum deposit of $25,000, leverage up to 1:400, and raw interbank spreads along with commission charges on trades.
MARKET INSTRUMENTS
SVSFX offers the following tradable financial instruments:
- Forex
- Gold
- Oil
- Indices, and
- Stocks
FEES
Apart from the minimum deposits and the spreads provided, there is not a lot of information regarding the trading and non-trading fees that traders can expect in using this broker to facilitate trades.
The spreads provided are not as competitive when considering that there are brokers who offer substantially lower spreads which start from 0.0 pips on major Forex pairs.
Commissions are mentioned for the MT4 Pro Account, but there is no further information available as the broker’s parent company is currently under administration and SVSFX’s website access is therefore restricted.
Traders should always consider overnight or rollover fees which are charges should positions be held open for longer after the trading day has concluded. There is no information that would suggest that SVSFX offers the option of an Islamic account.
Islamic Accounts or Swap-free accounts are options that are applied to the existing live trading account that frees Muslim traders of having to pay interest associated with holding positions for longer after the trading day has concluded.
Muslim traders who follow the Sharia law are prohibited from paying such interest as it is seen as wasteful and exploitive. Generally, the Islamic Account option caters for numerous factors involved with trading which is prohibited by the Sharia law.
Deposit and withdrawal fees are covered by SVSFX, but traders may be subjected to additional fees of 2% when using Credit Cards and 4.4% when using Neteller when deposits into the trading account are made.
Extraordinarily little other information is available on this broker regarding additional trading and non-trading fees, and it is imperative for traders to consider additional fees, including:
- Margin requirements
- Inactivity fees along with account maintenance and management
- Additional fees that have not been listed here
DEPOSIT AND WITHDRAWAL
SVSFX supports a variety of popular payment methods which includes:
- Credit/Debit Cards
- Bank Wire Transfers
- Skrill, and
- Neteller
TRADING PLATFORMS
SVSFX supports the use of the most popular and well-used trading platform namely MetaTrader 4. MetaTrader 4 allows traders access to their accounts, trading activities, numerous features such as:
- Technical indicators
- Analytical objects
- Automated trading through the use of Expert Advisors, or EAs
- Advanced charting abilities, and many more.
MetaTrader 4 can be used either on desktop pcs that run on Windows, Linux, and MacOS software, along with mobile devices that use Android or iOS operating systems and in addition, MetaTrader 4 has a web based platform which can be used as well.
HOW TO OPEN AN ACCOUNT
It is currently not possible to open an account with SVSFX due to the special administration under which the parent company has been placed, but there is a standard procedure widely accepted by most brokers when live trading accounts are opened.
In opening an account with SVSFX, traders will be required to complete an online application form that requires information such as:
- Basic information – First and Last Name, email address, telephone number, country of residence, and so on.
- Residential information – country, state, city, town, and zip codes.
- Employment and income details, and
- Trading experience.
As with other brokers, traders will be subjected to a ‘Know Your Client’, or KYC, process where they will have to submit proof of their identity along with proof of residence to verify and validate such before the account can be approved.
CUSTOMER SUPPORT
There is no information indicating the various ways through which SVSFX can be contacted, apart from the email address provided on the notice pinned to the homepage of the site in which the current situation is explained.
According to previous reviews, SVSFX hosts a superb customer support program whereby traders can make use of the online contact form, live chat, or the various telephone numbers provided.
EDUCATION
According to previous reviews SVSFX makes ample provision for beginner traders with its education offering consisting of tutorial pages, trading tips, guides on the best times to trade, and the provision of a demo account to practice trading.
RESEARCH
SVSFX makes provision for research by providing the following useful tools:
- Historical exchange rate tool – which allows traders to compare various historical Forex exchange rates for currencies most traded globally.
- Pip calculator
- Margin calculator
- Profit calculator, and
- A Tradeworks trading tool
AWARDS
There are no rewards mentioned for SVSFX.
CONCLUSION
SVSFX’s operations are currently on hold due to the special administration under which the parent company has been placed, but there is a dedicated team still dealing with client queries and updates, although account opening has been postponed for the time being.
SVSFX has a comprehensive offer which comprises of favourable trading conditions that suit both beginners and experts, despite being aligned according to professional trading services.
The fees are relatively reasonable and transparent but due to a lack of information, the trading conditions for SVSFX cannot thoroughly be explored.
DISCLAIMER
The trading of leveraged and margined financial instruments may expose traders to a substantial amount of risks which may lead to the incurrence of losses that can exceed their initial deposit.
SVSFX warns against such risks and urges traders to ensure that they adequately evaluate their risk exposure and their willingness to be exposed to risk in addition to evaluating their risk management protocols in avoiding and minimizing such risks and the chances of loss.
Min Deposit
USD 1
Regulators
FCA
Trading Platform
MT4
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
FAQs
TRADING ENVIRONMENT
How many instruments can I trade with SVSFX?
You can trade over 50 products including:
- Forex major pairs
- Gold
- Oil
- Major indices, and
- Stocks
Which platforms are supported by SVSFX?
Metatrader 4.
Does SVSFX offer leverage?
Yes. SVSFX offers leverage of 1:400.
What spreads can I expect with SVSFX?
Spreads from 1.0 pip.
Does SVSFX charge commission?
Yes. Commissions are charged when using the MT4 Pro account, but the amount charged is not provided.
Is SVSFX regulated?
Yes. SVSFX is regulated by the FCA in the U.K.
Is SVSFX a recommended forex trading broker for experts and beginners?
Yes, SVSFX caters for both beginner traders and experts through hits competitive and comprehensive trading conditions.
What is the overall rating out of 10 for SVSFX?
6/10.
ACCOUNTS
What is the difference between a demo and live trading account?
A Demo Account is a risk-free account which is funded by virtual money and allows traders to either practice trading, explore the brokers offering, or test trading strategies in a mimicked live trading environment.
Does SVSFX offer a demo account?
Yes.
For how long is the demo account valid?
This information is not available but when generally comparing demo accounts between brokers, the frequent term is 30-days.
Which live trading accounts does SVSFX offer?
- WebTrader Mini Account – minimum deposit of $1, leverage up to 1:400, a typical average spread of 2.5 pips on EUR/USD, and commission-free trading.
- WebTrader Standard Account – minimum deposit of $100, leverage up to 1:400, a typical average spread of 1.7 pips on EUR/USD, and commission-free trading.
- WebTrader VIP – minimum deposit of $25,000, leverage up to 1:400, a typical average spread of 1.0 pips on EUR/USD, and commission-free trading.
- MT4 Plus – minimum deposit of $1, leverage up to 1:400, a typical average spread of 1.9 pips on EUR/USD, and commission-free trading.
- MT4 Pro – minimum deposit of $25,000, leverage up to 1:400, and raw interbank spreads along with commission charges on trades.
What are the available deposit currencies for a live trading account?
This is not indicated but can be accepted that common deposit currencies such as USD, EUR, GBP, and others will be accepted.
DEPOSITS AND WITHDRAWALS
What is the minimum deposit for SVSFX?
$1.00.
How do I make a deposit and withdrawal with SVSFX?
- Credit/Debit Cards
- Bank Wire Transfers
- Skrill, and
- Neteller
Does SVSFX charge withdrawal fees?
No. These fees are covered by SVSFX.
How long does it take to make a withdrawal?
This will depend on the method through which withdrawals are made along with the process involved and generally it can take between one and several business days.
SVSFX AT A GLANCE |
|
| Broker’s Name | SVSFX |
| Headquartered | London, U.K |
| Year Founded | 2003 |
| Regulating Authorities | FCA |
| Countries not accepted for trade | This is not indicated |
| Islamic Account (Swap Free) | No |
| Demo Account | Yes |
| Institutional Accounts | No |
| Managed Accounts | No |
| Maximum Leverage | 1:400 |
| Minimum Deposit | $1 |
| Deposit Options | · Credit/Debit Cards
· Bank Wire Transfers · Skrill, and · Neteller |
| Withdrawal Options | · Credit/Debit Cards
· Bank Wire Transfers · Skrill, and · Neteller |
| Platform Types | MetaTrader 4 |
| OS Compatibility | Web browsers, Windows, MacOS, Linux, Android, iPhone, tablets, iPads |
| Tradable Assets | Forex, Gold, Oil, indices, stocks |
| Languages supported on Website | English |
| Customer Support Languages | English |
| Customer Service Hours | Not indicated – generally accepted that these hours will correlate with that of the Forex Markets which operate 24/5 |
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