EverFX

Additionally, EverFX offers swap-free (Islamic) accounts, that are Sharia conforming (for Muslim investors who are not willing to pay interest due to religious beliefs).

Remember that EverFX is not able to provide Contracts for Difference for residents of specific areas like those in the USA, Iran, Canada and North Korea.

The Company. Security of Funds

In EverFX the possibility of trading metals, currencies energy, indices and bonds using the old MetaTrader 4. Additionally, the broker provides high-quality tools for education.

EverFX is a registered trademark of ICC Intercertus Capital Limited and is licensed by Cyprus Exchange and Securities Commission (CySEC).

As UK is getting ready to leave in the European Union, Cyprus is growing in popularity as a popular location for forex brokers in Europe.

The Cypriot financial watchdog enforces certain rules and conditions for Cyprus Investment Firms. For instance, they have to have at least 730,000 euros to prove their financial stability. Additionally that, the Commission mandates that brokers for forex keep client funds in separate accounts, which are separated from the operating funds of the company.

To further protect the funds of clients All CySEC-regulated businesses are part of the Investor Compensation Fund, which can pay compensation of up to 20.000 EUR in the event that the business is in financial trouble. Similar compensation programs are available in other countries.

In addition each CySEC-regulated investment firm is also MiFID-compliant and is therefore able to provide services that cross-border across every EU member States.

Trading Conditions

Minimum Initial Deposit

In order to get an account with EverFX, you must first open the Standard Account with EverFX and make trades with one of the lowest spreads on the market traders must invest only $300. This is quite reasonable considering the savings from trading.

Spreads & Commissions

All types of accounts with EverFX come with the identical flexible spreads that are quite snug, averaging 0.3 percent on EUR/USD. Commission fees, however differ between $4 and $8 per lot traded (round round trip). In essence, the costs of trading for an account called the Standard account are less than the 1 pip mark EUR/USD (spread averaged 0.2 pip on EUR/USD plus $6 commission, which is roughly 0.8 per cent) per typical lot. This is extremely cost-effective price, considering that the majority of brokers have spreads in the interval of 1.0 1.5 to 1.5 pips for this currency pair.

For more details you can find live spreads from 15 top brokerages here.

Leverage

EverFX offers leverage levels of high that can reach 1:500. To help safeguard traders from the dangers that come with trading with high leverage the Cypriot financial watchdog suggested standard leverage levels of 1:50. However, the majority of Cypriot brokers have leverage ratios that are much higher: FXTM 1:500, and XM as high as 1:888. There are many forex brokers with leverage that is equal or more than 1:500.

Trading Platform

The broker provides two platforms for its customers. One of it is the most widely used platform for trading in forex that is MetaTrader4 (MT4), available in all forms and sizes that include computer, MAC, tablet, mobile, and web versions.

MT4 is widely praised for its broad variety of built-in technical indicators as well as Expert Advisors (EAs) that users can get ready-made or make their own. They have a vast back-testing options in addition to the most advanced charting tools and an easy-to-use interface.

Additional brokers that use MT4 can be seen at this site.

Furthermore, EverFX has come up with their own web-based platform, (which will be also soon available on mobile devices). The Status platform gives users easy way to access the market for forex, as well as offering sophisticated functions. The sidebars have two that can be extended upwards towards the chart, showing the list of instruments and the news section. Here’s a sample:

However, the bottom part is extremely easy to use. The platform is an excellent choice for newbie and the experienced.

Promotions

EverFX frequently launches different promotions, including a Refer-as-Friend program or a Zero Trading Cost promotions.

Methods of Payment

The following payment options are accessible for EverFX clients: credit or debit card (Visa, MasterCard), bank wire transfer, and e-wallet payment methods, including Skrill, Neteller, and Webmoney..

No minimum withdraw limit for this broker.

Conclusion

EverFX is a FX and CFD broker that supports the popular MetaTrader 4 platform and utilizes a pure straight-through-processing execution model. In addition, it is controlled by CySEC to be able to function across any of the EU countries.