EuropeFX Review – An Introduction
EuropeFX claims to be a Cyprus based trusted broker which offers their clients with some of the best analytical tools, educational material to enhance the investor’s knowledge of trading smoothly and easily and trade execution facilities. The broker claims to offer over 300 tradeable assets enabling the investors the safe trading environment. Along with the attractive services claimed by the broker there are several negative points too. This review will let us know all about its pros and cons.
About EuropeFX Review:
As mentioned in their website EuropeFX is owned and operated by MAXIFLEX Ltd., a Cyprus Investment Firm licensed by the CySEC (Cyprus Securities and Exchange Commission). It is believed that the EuropeFX has been operating since 2013, but there is not exact status as no information is available in their website. The broker provides their clients with various financial tools such as Commodities, Gold, Indices, Stocks, Oil, and CFDs. As mentioned in their website the broker offers Meta trader 4 trading platform which is the most widely used and preferred by investors however various other researchers suggest that the broker also offers various other platforms such as Web-trader which is a light weight HTML5 platform, Mirror trader and Algo-trader.
As per the researches, EuropeFX provides 3 trading accounts which are Bronze, the minimum deposit amount is 200 Euro Dollar. The gold account, where the minimum deposit is of 10000 Euro Dollar and Platinum account where the minimum deposit is of 25000 Euro Dollar. All the account types provide the spreads from 0.1 pips and maximum leverage available is 1:30 (EU). The EuropeFX claims to offer better trading conditions which enables the investors to know the market analysis with written charts and content which lets the investors to make more informed decisions. Trading strategies and techniques can be learned through Live Webinars conducted by them which results in up-to date information regarding the market trends and news.
The payment methods supported by broker is Debit/Credit cards, wires, Skrill, Mybank etc. where the withdrawal fees of 25 Euro Dollar is chargeable and the processing time is of 1-5 business days for all the transactions. One of the disadvantages of the broker is the leverage provide by them is quite high because of the nature of the trading as it can results in profits but at the same time will lead to the higher losses also.
Is EuropeFX a Scam or Legit?
Although the EuropeFX offers some attractive services it can be said that it is not a full legit broker because of some of its drawbacks which includes the minimum deposit which is quite high as compared to other brokers existing in the market. Also, if the trade management is not done properly the spread and commission can become costly resulting in the lower interest of the investor. Adding on in this, there are various facilities like copy-trading and algo-trading through which the Australian traders are exempted. This leads to the conclusion that EuropeFX is not a full legit broker and consist of major drawbacks which needs to be taken care of.