EverFX Review 2024

Quick Links

• Is EverFX safe or a scam?

• Trading Platforms

• Accounts

• Fees

• Leverage

• Deposits and Withdrawals

• Conclusion

Is EverFX Safe or a Scam? ▲

EverFX operates under the brand name of ICC Intercertus Capital Ltd, a company registered in Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC). This regulatory framework ensures that EverFX adheres to the strict guidelines set forth by the MiFID (Markets in Financial Instruments Directive) of the European Union, providing a significant layer of security and legitimacy to its operations. An additional operational entity of EverFX is established in the Cayman Islands, regulated by the Cayman Islands Monetary Authority (CIMA). While the Cayman Islands entity alone might raise questions due to its offshore status, the presence of a robust regulatory regime from the EU entity contributes to the overall reliability of EverFX as a forex broker.

The assurance of fund security and client protection at EverFX is comprehensive, in line with the rigorous regulatory requirements. Clients' funds are kept segregated from the company's funds, ensuring that they are not used for any other purposes. Moreover, in the unlikely event of company insolvency, clients are entitled to compensation. EverFX also undergoes regular audits and provides proof of indemnity, further securing clients' investments and interests.

Trading Platforms ▲

EverFX has opted for the industry-renowned MetaTrader4 (MT4) as its primary trading platform, recognizing the need for a powerful, reliable, and versatile trading environment. MT4 offers an array of features including advanced charting tools, extensive customization options, and auto-trading capabilities. The platform is designed to meet a wide range of trader demands, allowing for trading from virtually any location and on any device.

In addition to the basic functionalities of MT4, EverFX enriches the trading experience by providing free access to daily technical and fundamental analysis updates directly within the platform's news section. Another notable offering is Autochartist, a professional tool available to all traders at no extra cost, facilitating the identification of potentially profitable trading opportunities. Furthermore, EverFX integrates ZuluTrade, a leading copy portfolio and social trading platform, into its services. This feature enables traders to either replicate the strategies of experienced traders or share their own strategies with the community, fostering a collaborative trading environment.

EverFX also enhances the MT4 experience by offering free Virtual Private Server (VPS) hosting, ensuring uninterrupted operation of Expert Advisors (EAs) in a secure environment. To qualify for free VPS hosting, traders must meet certain conditions, such as maintaining a minimum account balance or deposit of $5,000. For those not meeting these criteria, VPS hosting is available for a monthly fee of $20, making advanced trading tools accessible to a broader range of traders.

Accounts ▲

EverFX caters to traders of all experience levels by offering a selection of account types, including both demo and live trading options. When you open an account with EverFX, you're guaranteed professional trading conditions, swift execution, and comprehensive customer support. The broker provides a choice between three distinct accounts: Standard, Premium, and VIP, each tailored to different needs in terms of balance maintenance and associated costs. Premium and VIP account holders benefit from the added advantage of dedicated account managers, who are available to provide support at any time. These higher-tier accounts also offer the opportunity for personal analyst consultations and access to advanced trading features, enhancing the trading experience significantly.

Fees ▲

EverFX presents a flexible fee structure across its three account types, allowing traders to select the option that best fits their trading style and financial goals. The Standard account incorporates costs into a competitive spread starting from 1.2 pips, making it an attractive option for those looking for straightforward pricing. For more active traders, the Premium account offers improved spread quotes beginning at 0.8 pips, with the added benefit of zero commission charges. The VIP account, on the other hand, is designed for those seeking the pinnacle of ECN trading, offering raw spreads from as low as 0 pips and a nominal commission of $4 per round trip. This variety ensures that there's an account type for every trader, regardless of their preference for spread or commission-based costs. Additionally, EverFX accommodates traders of the Islamic faith by providing the option to open a Swap-free account, ensuring a comprehensive and inclusive trading environment.

Leverage ▲

As it pertains to leverage levels, these are typically determined by regulatory restrictions, thereby adhering to European laws due to EverFX's registration. The European authority, ESMA, has set lower levels which may offer a maximum of 1:30 for Forex instruments, 1:10 for Commodities, and 1:5 for Cryptocurrencies. Nevertheless, EverFX, also having a presence in the offshore zone of the Cayman Islands, offers the possibility of higher leverage up to 1:500. This, however, is dependent on the trader's residence, so it's advisable to verify these details with customer service.

Deposits and Withdrawals ▲

Ensuring fast and secure payments for both deposits and withdrawals is a top priority for every client. In this regard, EverFX provides a selection of payment methods. Specifically, the broker supports instant payment options via Visa and MasterCard with 0% commissions for deposits and a 3% fee for withdrawals, while E-wallets like Skrill and Neteller incur a 2% and 3% fee, respectively, for withdrawals. Although bank transfers offer commission-free withdrawals, the bank provider may impose transaction costs. To commence trading with a Standard account, a minimum deposit of $250 is required. Higher account types necessitate larger deposits, yet the first level account remains reasonably accessible.

Conclusion ▲

This review of EverFX portrays a brokerage firm committed to providing fair trading services, thus enabling every trader the opportunity for potential success. The diversity of account types, platforms, along with advanced tools and responsive customer support, facilitate this. While trading costs are average, there is no confusion thanks to the company's Market execution model as an STP Broker. Consequently, EverFX is a commendable option to consider. However, we invite you to share your personal experiences with EverFX, further enriching this discussion.

EverFX Updates

Currently, the EverFX websites for both EverFX Cyprus and EverFX Global are unreachable. Our findings indicate that the Cyprus regulated parent company, ICC Intercertus Capital Ltd, now operates the new brand, Axiance. With over a decade of trading expertise, we prioritize money safety. For EverFX, we advise caution and encourage conducting your research should any offerings from EverFX emerge. It is preferable to opt for a reliable broker with top-tier regulations and favorable conditions, such as FXTM or FP Markets.