Account Type | Min.Deposit | Min. Trade Size | Maximum Leverage | Average Spreads (& Commission) |
Standard | $300 | 0.01 | 1:500 | 0.2 pips + $6 per round lot |
Premium | $5 000 | 0.01 | 1:500 | 0.2 pips + $5 per round lot |
VIP | $20 000 | 0.01 | 1:200 | 0.2 pips + $4 per round lot |
EverFX offers its clients a choice of several basic account types, depending on the initial investment. As this brokerage is a pure STP one, all accounts provide tight variable spreads, starting out at 0 pips. Commission fees and leverage, on the other hand, vary by account type.
In addition, EverFX offers swap-free (Islamic) accounts, which are Sharia compliant (for Muslim investors who are unwilling to earn and pay interest for religious reasons).
Keep in mind that EverFX does not offer Contracts for Difference to residents of certain jurisdictions such as the USA, Iran, Canada and North Korea.
Company |
Country |
Regulation |
ICC Intercertus Capital Limited |
Cyprus |
CySEC |
With EverFX you can trade in currencies, metals, indices, energies, commodities and bonds on the good old MetaTrader 4. In addition, the brokerage offers high-quality educational tools.
EverFX is a trademark of ICC Intercertus Capital Limited and is regulated by Cyprus Exchange and Securities Commission (CySEC).
As UK is preparing to leave the European Union, Cyprus is gaining more and more popularity as an attractive forex broker destination in Europe.
The Cypriot financial watchdog applies certain rules and requirements to Cyprus Investment Firms. For instance, they must hold at least €730,000 as a proof of financial stability. Besides, the Commission requires forex brokers to keep customer funds in segregated accounts, separated from the company’s operating funds.
As a further guarantee to clients’ funds, all CySEC-regulated companies are members of the Investor Compensation Fund, which is able to pay compensation up to 20,000 EUR, If the company is in default. Similar compensation schemes apply in other jurisdictions.
Additionally, every CySEC-regulated investment company is also MiFID compliant and therefore entitled to offer cross-border services in all EU Member States.
Minimum Initial Deposit
In order to open the Standard account with EverFX, and trade with some of the lowest spreads in the market, traders have to invest just $300 – which is very fair considering the savings on trading.
Spreads & Commissions
All account types with EverFX offer one and the same variable spreads, which are pretty tight, averaged 0.3 pips on EUR/USD. Commission fees, however, vary from $4 to $8 per traded lot (round trip). So basically, trading costs on the Standard account are below 1 pip EUR/USD (spread averaged 0.2 pips on EUR/USD + $6 commission = approximately 0.8 pips) per standard lot. This is a really competitive pricing, as most brokers offer spreads within the range of 1.0 – 1.5 pips for this pair.
For more information, you may look up real-time spreads of 15 leading brokers here.
Leverage
EverFX offers high leverage levels, reaching is 1:500. In an attempt to protect traders with the risks associated with trading at high leverage, the Cypriot financial watchdog proposed default leverage levels to be 1:50. Nonetheless, most Cypriot brokers still offer leverage ratios, which are significantly higher: FXTM - up to 1:500 and XM – up to 1:888. You may check out more forex brokers offering leverage equal to or exceeding 1:500 here.
This broker offers two platforms to its clients. One of them is the most commonly used forex trading platform - MetaTrader4 (MT4), available in all forms and shapes: for PC, MAC, tablet, mobile and web version.
MT4 is internationally acclaimed for its wide range of built-in technical indicators and Expert Advisors (EAs), which users are able to get ready-made or create ones of their own, extensive back-testing options for them, as well as the advanced charting tools and user-friendly interface.
More brokers using the MT4 can be viewed here.
Additionally EverFX has developed their own unique web-based solution, (which will also be available for mobile devices soon). The Status platform provides an easy access to the forex market, while also packing some advanced functionality. There are two sidebars, which can be extended inwards, toward the chart, revealing the instrument list and news section. Here is a preview:
At the same time the bottom section is very intuitive. This platform feels like a solid choice for the beginner and veteran alike.
Promotions
EverFX often launches various promotions, such as a Refer-a-Friend program or Zero Trading Cost promotion.
The following payment methods are available to EverFX clients: credit/debit cards (Visa, MasterCard), bank wire transfer and e-wallet payment systems, such as Skrill, Neteller, and Webmoney.
There is no minimum withdrawal amount with this broker.
EverFX is a FX and CFD broker that supports the popular MetaTrader 4 platform and utilizes a pure straight-through-processing execution model. Besides, it is duly regulated by CySEC to operate in all EU countries. To sum up the above, here are the advantages and drawbacks with regards to this broker:
Pros | Cons |
Well-regulated | |
MT4 available | |
Tight spreads, starting at 0 pips | |
Pure STP execution | |
Low initial deposit | |
Promotions offered from time to time |
Account type | Min. deposit | Min. trade size | Max. leverage | Average Spreads |
Standard | $50 | 0.01 | 1:50 | 1.4 pips |
Leading US broker Forex.com offers a single account type on several trading platforms. The broker provides commission-free trading with variable spreads and the option to use micro lots.
In addition, Forex.com offers swap-free accounts to investors of Islamic belief, as well as free demo ones for 30 days after sign up.
Regulated in the US and other countries
Forex.com belongs to the Gain Capital group. Gain Capital meets high standards of corporate governance, financial reporting and disclosure. The parent company of the major FX brand Forex.com, GAIN Capital Holdings, Inc. (NYSE:GCAP) is a registered Futures Commission Merchant (FCM) and Retail Foreign Exchange Dealer with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA).
Besides, its subsidiaries are properly licensed in the countries of their operation:
Company | Country | Regulation |
GAIN Capital Group, LLC | USA | NFA, CFTC |
Forex.com UK Limited | UK | FCA |
GAIN Capital FOREX.com Australia Pty Limited | Australia | ASIC |
Forex.com Canada Limited | Canada | ILLROC |
GAIN Capital Group (Hong Kong) Limited | Hong Kong | SFC |
GAIN Capital Japan Ltd. | Japan | FFAJ |
Apart from Forex.com, Gain Capital Group is operating the brands City Index, GTX, Gain Capital, FinSpreads, and others.
The largest broker in the US
Not only that Forex.com is regulated in the United States, but it is actually the largest forex broker in the country. After FXCM has left the US market, Forex.com became the undeniable leading provider of financial services in the US.
Actually, a very few brokers have remained active on the strictly regulated US market: Oanda, Interactive Brokers, and TD Ameritrade.
Competitive spreads
Forex.com offers commission-free trading with variable spreads, the average ones on EUR/USD amounting to 1.4 pips, which is a rather competitive pricing. By comparison, the cost of trading at Oanda, another US broker, is exactly the same.
Low minimum investment required
In order to open an account with Forex.com, one has to invest just $50. Almost everyone can afford such an investment.
Several top-notch trading platforms available
Leading US broker Forex.com offers a single account type on several trading platforms. The broker provides commission-free trading with variable spreads and the option to use micro lots.
Actually, this piece of trading software is as sophisticated and customizable as the MT4. Its professional-grade trading tools include top-notch interactive charting with more than 100 predefined indicators, as well as the option to create some of your own. There are also a number of Integrated trading strategies, which are also customizable. Besides, users can code their own trading strategies (in C++), there is a back-testing excel tool available, and signals trading. Here is a snapshot of the platform:
Click on the image to zoom-in.
Some of the new functionalities of the platform after a recent update include powerful charts with integrated one-click trading, smart trade ticket with advanced risk management option, pre-defined and customizable layouts, and more.
Various payment methods, fast withdrawals
Yet another thing we like about Forex.com (US) is the fact that it support several convenient payment methods, and namelY Debit Card, Wire Transfer, ACH and Checks. What is even more important from a client's point of view, withdrawals are processed pretty fast – within 48 hours.
Bonuses available
Leverage capped to 1:50
Actually, this is not a weak side of the broker itself, but a legal requirement in the US. Brokers operating in the country are not allowed to provide leverage of more than 1:50, and Forex.com simply complies with the regulatory requirements.
Forex.com (US) is the largest US broker and one of the few actively operating in the country. A market leader offering trading in more than 80 forex pairs and CFDs, it has serviced over 200,000 customers globally.
The US broker is a part of the Gain Capital group – a leading forex brokerage with global presence. All members of the Gain Capital family are duly regulated by the respective governmental agencies, including Forex.com (US). It is registered with the CFTC and a member of NFA. US regulation is one of the strictest, which is a good thing in terms of investor protection, however some of the rules imposed are considered too restrictive.
For example, Brokers registered with the NFA are required to maintain a net capital of at least $20 million to guarantee customers’ positions, which is the highest minimum capital requirement worldwide. Moreover, hedging is not allowed and leverage is limited to 1:50, as we already mentioned above.
Now, let’s sum up the strong and weak sides of Forex.com (US):
Pros | Cons |
A global leading broker | Leverage capped at 1:50 |
Solid regulation | |
Competitive spreads, commission-free | |
Several trading platforms, including MT4 | |
Low min. deposit required |