Everfx Review – 5 Important Key Points About Everfx Broker

In the first place, EverFX is a broker owned by ICC Intercertus Capital Limited based in Cyprus. Furthermore, they were licensed by the Cypriot authority CySEC since 2016. However, if we dig deeper into the analysis of this broker, we can find some potential issues that customers could have. Primarily, their loss of CySEC license.

Nevertheless, opinions are split, so you can decide for yourself after you check all facts in this EverFX review.

​​What’s more, we strongly recommend that you avoid the fraudulent brokers FBS, UFX, and Monaxa.

Is EverFX a Regulated Broker?

Not only that they were licensed by CySEC but also their second brand is licensed by FSA ( Seychelles ). As a matter of fact, none of these are Tier 1 regulators. Therefore, traders find it unattractive since they don’t offer that high level of security and reliability.

If the EverFX broker had a Tier 1 license from FCA, BaFin or ASIC, it would be a different story. In the light of all the negative comments on EverFX reviews, we double-checked all the licenses. Indeed, they don’t have any Tier 1 licenses besides the ones from Seychelles. Due to some activities they have lost their CySEC license.

Reasons for Using a Regulated Broker for Trading

Regulators provide transparent conditions and a high level of funds security. Especially with top regulators like the ones in the Tier 1 group. Moreover, they can’t provide you with trading conditions that are not by those rules. Some brokers offer higher leverage than 1:30 which is defined by ESMA rules in the EEA zone.

In this case, the broker offers leverage up to 1:400.

Financial Watchdogs’ Red Flags and Warnings

Must be remembered that the FCA regulator from the UK banned EverFX services in their country. Although this broker provided services with a valid license FCA had concerns about the marketing and sales strategy of the broker. At the same time, those were misleading with a high level of pressure without approving withdrawals. With that in mind, we would look for another broker.

Does EverFX Offer Metatrader 4? – Trading Software

In general, MT4 is widely present among trading companies due to its high reliability and available features. EverFX offers access to MT4 and on the rebranded company even MT5. Thus, this is a reliable trading platform with advanced indicators, charting options, social trading tools and many more. However, based on some EverFX reviews, you can expect some issues.

Trader’s Reviews of EverFX

As can be seen in EverFX reviews, out of 180 comments on Trustpilot, roughly 65% are 1-star rated. Many of those clients are coming from countries like the United Kingdom, Canada, Australia, Spain and France. Frequently these customers were complaining about withdrawals. On the other hand, all of those are speculations but it raises concerns.

EverFX Trading Instruments

On the positive side, EverFX trading company offers a vast of different instruments divided into classes. Usually, some of the assets are highly volatile and in combination with high leverage could be risky. Some of the assets are:

• Forex                        USD/EUR, EUR/NOK, AUD/NZD
• Commodities             oil, natural gas, gold
• Indices                      AU200, BE20, DAX30
• Shares                      Nvidia, AMD, Intel
• Cryptocurrencies       BTC, ADA, XRP

Regardless of high leverage, there is a solid group of instruments that in combination with a trusted platform like MT4/MT5 can bring very good results.

EverFX Service Countries

Since EverFX broker doesn’t have any limitations in terms of providing trading services, they are established all over the world. However, in any EverFX review we could find some traders coming from:

• UK
• Canada
• Australia
• Spain
• France

Important to realize is that FCA issued a warning and they should explicitly stop their services in the UK. Therefore, you can start looking for different options especially if you are British.

EverFX Account Types

Surprisingly EverFX broker offers only 3 account types. Every higher leveled account brings you better and tighter spreads. However, the VIP account has commissions while the other two don’t.

• Standard       $250
• Premium       $5.000 
• VIP               $30.000

Since you don’t have trading assistance with the standard account you will need it very shortly to upgrade the account.

Free Demo Account – Does The Broker Offer It?

Even though, Ever FX broker offers a demo account it is often not recommended. In a demo account, you are trading with virtual funds. Consequently, your trading habits become bad. After all, clients start losing real money if they don’t know what they are doing.

EverFX Deposit and Withdrawal Policies

Generally speaking, all e-payment options, cards and online bank transfers are allowed. However, we always advise clients to use cards in the beginning. For instance, you can always file a chargeback in case something goes wrong. As has been noted, the broker charges a commission for any withdrawal except for bank transfers.

Payment Methods Available

Some of the e-payment methods available are Neteller, Skrill, Alipay and QIWI. Moreover, besides online bank transfers, they accept as well Visa and Master cards. Nonetheless, it is not excluded that broker accepts as well crypto transfers. In addition to that, those are encrypted and hardly traceable transfers and should comply with AML laws.

EverFX Terms & Conditions – What You Need to Know

Given that this broker has a valid trading license they should comply with all their T&Cs. However, some EverFX reviews are presenting a different picture. Unfortunately, some of the T&Cs like maintenance fees and additional charges are not available. Whereas many Tier 1 regulated companies have everything transparent.

Leverage, Spreads and Fees

As can be seen, leverage goes up to 1:400. ESMA rules for trading in the EEA zone are allowing only up to 1:30. On the positive side, spreads start with 0 pips for the ECN account. As shown above, deposit and withdrawal fees are up to 3% for certain methods. However, maintenance fees are not disclosed.

What Should I Do If I Have EverFX Problem?

If you had any issues with the EverFX broker, share your story with us. Our expert team can give you advice on any topic. Most traders tend to look for refunds or fund recovery in any way. To get any assistance contact our specialized team today!