Because of this foundation, EverFX focuses on providing good educational material, great trading platforms, and a selection of assets that anyone can relate to.
With an operative license from CySEC and a good reputation among traders, EverFX is a safe broker that we wouldn’t hesitate to recommend to our readers.
In many ways, this broker is best suited for beginners that want to learn how to trade in the best way possible, however, EverFX’s comprehensive educational material can be used by everyone regardless of previous experience.
Is EverFX a Scam?
The broker EverFX is a property of the Cypriot company ICC Intercertus Capital Limited which in turn is regulated by the Cyprus Securities and Exchange Commission (CySEC). A CySEC license is everything that a broker needs to be considered safe since it’s one of the toughest licenses to receive anywhere in the world. However, there is more to it than that.
In addition to being regulated by the CySEC, EverFX is also registered by several other European agencies. For example, the Financial Conduct Authority (FCA) in the United Kingdom, Comisión Nacional del Mercado de Valores (CNM) of the Spanish government, PFSA Polish Financial Supervision Authority (KNF), as well as Finansinspektionen (FI) in Sweden.
All of these licenses and registrations are proof of how serious EverFX is and that all of their business is overseen and inspected.
EverFX Trading Platforms
So now when we know that EverFX is safe to use, let us take a closer look at the trading platforms that are offered. EverFX has chosen a combination solution for their platforms where the MetaTrader 4 serves as the main platform and it’s complemented by a social trading platform called Status.
The MetaTrader 4 is the most well-known and appreciated forex trading platform in the world. It is used by a large range of different brokers and provides all the tools you could think of in terms of analytics, charting, and execution. In addition to offering forex trading, the MT4 also supports some CFD trading which is perfect for EverFX’s selection of assets. You can use the MetaTrader 4 on your Apple and Windows computer, or you can download the platform to your mobile device and trade on the go. Read more about the MetaTrader 4 here.
Status is a social trading platform designed to help traders interact and get inspired by each other, although there is much more to this platform than social trading. In fact, Status comes with some seriously advanced charting tools, excellent educational material (especially for analytic work) and great execution. Unlike the MT4, Status is only available in your browser and it does not come in a desktop version.
More Than 120 Tradable Instruments
When it comes to assets, EverFX has decided to keep things simple yet exciting, and today they offer 100+ instruments divided into the following classes.
- Forex – 50+ currency pairs make up the biggest part of the available assets on EverFX. Here you can trade everything from the largest currencies to smaller ones with spread as low as 0.0 pip.
- CFD Stocks – 40 of the world’s largest brands can be traded as CFDs, for example, Apple, Google, Boeing, Alibaba, etc. Stock trading is popular worldwide for good reasons, and we suggest you try it out.
- Indices – After the first two classes, the selection gets smaller. There are only about 10 indices offered among them USTEC, UK100, and AUD200.
- Energies – Give some of the most lucrative assets a chance and invest in US Brent, Natural Gas, and West Texas Intermediate (WTI).
- Spot Metals – Copper, Gold, Silver, Platinum, and Palladium can be traded as spot commodities against USD, EUR, and in some cases on their own.
As mentioned, EverFx’s assets are simple but exciting, however, we do wish there were a few more options. For example, agricultural commodities and cryptocurrencies – our favorite CFD trading opportunity. That being said, EverFX is always striving to be innovative, and they might end up adding more assets in the future.
EverFX: Three Live Accounts and One Demo Account
Depending on how you like to trade and how much money you have to spend, you have three live trading accounts to choose from.
- Standard is the smallest account with the least amount of benefits. It requires a minimum deposit of $250 to be activated and has spread as low as 1.2 pips. Also, this account is completely commission-free.
- Premium is the middle account and the most popular one. To activate this EverFX account, you need to deposit $5,000 and for that, you get access to spreads down to 0.8 pips, a dedicated account manager, and other great benefits. Just like the Standard account, the Premium account is commission-free.
- VIP is the top account offered by EverFX. This account was designed for high rollers that can deposit $30,000 and that are very active with their trading. Spreads are as low as 0.0 pips, although a $2 commission is charged for every lot that you trade ($4 for round lots). You also get access to your personal analyst that can help you plan the best investments.
EverFX Demo Account
If you don’t feel ready to start trading right away, we suggest you open an EverFX demo account. The demo account will give you access to the MetaTrader 4 platform and 100,000 virtual dollars. Typically, a demo account is used to improve one’s trading knowledge, to test new trading strategies, and to gain enough experience to move on to real forex trading.
Remember that a demo account provides risk-free trading under real market conditions.
Withdrawals and Deposits
You’ve signed up for an EverFX trading account, you’ve verified your identity, and you’re ready to start trading. However, first, you will need to deposit money and fund your account.
To do so, you can use your Visa or Mastercard, Skrill, and Neteller, or you can make a regular bank transfer. All of these methods are commission free (unless your bank charges you) and they are all performed in a timely manner. Debit and credit cards take about 1 hour, the online payment services take up to 2 hours, and bank transfers take about 24 hours to complete.
You have the same options to choose from when it’s time to withdraw your earnings, but you can expect to pay a smaller fee for each transaction.
EverFX’s main office is located in Limassol, Cyprus in case you want to visit them in person. If you want to contact them elsewhere, you have a couple of options.
In our opinion, the most practical way of contacting EverFX is by using the live chat feature on their website. By using the live chat, you’ll be put in contact with a representative almost immediately. If you don’t want to use the chat feature, you can call them on +357 25885000 or send an email to [email protected] There is also a contact form on their support page that is connected to the same email address.
Final Words on EverFX
EverFX is a simple forex and CFD broker that offers customers all the tools they need to succeed whether they are beginners or more experienced. We are very impressed by their educational material and recommend you check it out.
In case our review wasn’t enough to convince you to start using EverFX, we suggest you either open a demo account or take a look at our other reviews.