SVSFX Review 2024
Website: svsfx.com
Min. Deposit: US$ 500
Leverage: 1:30
Trading Platforms: MT4
Regulation: FCA
Headquarters: UK
Founded: 2003
Regulatory Licenses:
- SVS Securities Plc - authorized by FCA (UK) registration no. 220929 in administration
In a Snapshot
April 10, 2024
Quick Links
At Broker Insight, our review methodology for evaluating brokers is comprehensive and multi-faceted, ensuring a well-rounded analysis. We start by examining the broker's regulatory compliance and background, assessing the security and reliability of their operations. This is followed by a thorough evaluation of the range and diversity of trading instruments and markets offered, as well as the variety and suitability of account types available for different trader profiles. We delve into the trading platforms and tools provided, focusing on user experience, functionality, and technological robustness. Fees, spreads, and overall cost structure are scrutinized for transparency and competitiveness. A key component of our review involves testing the effectiveness and responsiveness of customer support. Additionally, we consider the ease and efficiency of the deposit and withdrawal processes. Finally, we incorporate real user feedback and the broker’s community reputation into our assessment to present a holistic and unbiased review that serves as a valuable resource for traders seeking reliable and insightful broker evaluations.
SVSFX operates under the trading name of SVS Securities Plc, which is duly authorized and regulated by the Financial Conduct Authority (FCA) in the UK, bearing registration number 220929. Additionally, SVS Securities Plc holds membership with the London Stock Exchange, further emphasizing its credibility and regulatory compliance. The stringent adherence to regulatory guidelines ensures that all operations are conducted in a manner that prioritizes client protection and reliability.
One of the pivotal aspects of regulation is the requirement for the safeguarding of client funds. This entails the maintenance of client funds in segregated accounts, subject to both internal and external supervision, thereby maximizing the protection of account holders. Perhaps the most significant protective measure is the coverage offered by the Financial Services Compensation Scheme (FSCS), which serves as a safety net for clients in the event of the company's insolvency.
SVSFX exclusively utilizes the MT4 trading platform, recognized globally as the most popular trading platform for many years. Available across desktop, web, and mobile applications, MT4’s reputation is well-earned, thanks to its high-performance characteristics and a plethora of available tools designed to enhance trading success. At SVSFX, traders can access an advanced charting toolbox for comprehensive technical analysis, as well as the option to run personalized Expert Advisors (EAs) without any restrictions.
Although the broker has opted not to offer a wide variety of tools, the selections made available are quite typical and effective for uncovering trading opportunities. Included in the offerings are a Margin Calculator, which determines the exact amount required to make a trade; a Historical Exchange Rate tool, comparing globally taken rates from the history for the most traded currencies; a Pip Calculator, facilitating better risk management by measuring the value per pip according to the account currency; and a Profit Calculator, which assists in estimating potential profit or loss.
Trading fees at SVSFX are primarily based on spreads and an overnight funding or swap fee. The spreads can be either fixed or floating, depending on the client's account balance and proficiency level. This forex broker offers a relatively narrow selection of the most commonly traded assets, which includes more than 50 Foreign Exchange (FX) instruments and a comprehensive suite of Contracts for Difference (CFD) trading options. The CFDs available cover popular global indices, commodities, energy products, and precious metals. While SVSFX may not boast a vast range of trading instruments, it focuses on delivering quality and commonly sought-after assets.
SVSFX, like many forex brokers, offers margin trading which allows clients to open positions larger than their account balance, thus providing the potential for higher profits. However, this also comes with a greater risk of losses. Following regulatory requirements from the UK’s Financial Conduct Authority (FCA), SVSFX has limited leverage to a maximum of 1:30 for major currency pairs and 1:20 for minor pairs, with even lower leverage for other instruments.
Available Trading Products
SVSFX acts as a market maker, dealing with clients directly in Margin Trading transactions on an Over-The-Counter (OTC) basis. The trading products offered include a wide range of more than 50 FX instruments that have been recently expanded to complete the full suite of products. In addition, SVSFX offers CFD trading in global indices, commodities, energy products, and precious metals, focusing on the most commonly traded assets to ensure quality and relevance to its clients.
Comparison with Other Brokers ▲
For a comparative analysis, let's consider the first-grade spreads offered by SVSFX for some popular assets:
Asset/ Pair
EUR/USD
Crude Oil WTI
Gold
SVSFX Fee Terms
1.9 pips
4.5
41 cent
These fees can be compared with another broker, City Index, to assess SVSFX's competitiveness in the market. It's crucial to also consider the swap fee or overnight funding charged for holding positions overnight. SVSFX provides an Islamic Account option, featuring a swap-free alternative for traders who follow Sharia laws.
Pros
Offers both fixed and floating spreads
Provides a comprehensive suite of CFD trading options
Features a swapfree Islamic Account option
Cons
Limited range of trading instruments
Leverage options are restricted following regulatory requirements
SVSFX offers a range of payment methods to accommodate the diverse needs of its clients, ensuring that funding an account is as convenient and secure as possible. The broker supports various widely used payment options, including Credit/Debit Cards such as MasterCard, Visa, Maestro, Visa Electron, alongside popular e-wallets like Skrill, Neteller. Additionally, traditional bank transfers are also available for those who prefer this method.
The minimum deposit required to open a Standard Account with SVSFX is set at $500, which is considered relatively affordable and accessible for traders of various sizes. This deposit threshold enables traders to access competitive trading conditions. SVSFX is committed to transparency and strives to minimize client costs wherever possible. As such, the broker typically covers the depositing and withdrawing fees associated with various payment methods. However, some transactions may incur additional fees; for example, deposits made via Credit Card or Neteller are subject to an additional fee of 2% and 4.4%, respectively. Withdrawals made through Neteller incur a 2% fee, and a significant 20% fee is applied to withdrawals made via Credit Card.
SVSFX stands out as a dependable forex broker with over 15 years of experience in the trading industry, offering a wide range of FX currency pairs and CFDs. Although the company predominantly serves institutional clients with a comprehensive array of solutions, retail traders will also find valuable offerings. A key advantage of SVSFX is the provision of the MT4 platform, which accommodates traders with various strategies and styles, allowing them to potentially achieve success. Other notable benefits include a low initial deposit requirement, rapid trade executions with competitive pricing, and transparent, straightforward funding methods.
SVSFX's commitment to serving both institutional and retail clients with high-quality trading solutions is evident in its offerings. Traders are encouraged to share their personal experiences with SVSFX, engage with the latest news, and reach out for additional information as needed.
Important Update on SVSFX
It's important to note that as of August 2019, SVSFX, following a decision by its Board of Directors, entered into Special Administration under SVS Securities PLC. Clients holding accounts with SVSFX will be contacted to provide further clarification and updates regarding this process.
