EverFX Global Review – An Offshore Scam or Not?

EverFX Global is a relatively new broker who offers trading instruments mainly revolving around the world of forex. They support the MT4 platform which is literally one of the most versatile pieces of software out there in the retail trading sector. For those of you who prefer more simple approach can make use of their online based platform which does not require you to download any element at all.

The minimum deposit required to get started with them is a little on the higher side. However, the needs of each and every trader is unique. So, read our unbiased review till the end to find out whether this broker is the one you really need.

Company Location, Contact Details and Licenses

As a rule of thumb, it is always better for clients to stick with regulated entities when trading as they will ensure fair environment for all the parties involved. EverFX Global is owned and operated by ICC Intercertus Capital (Cayman) Limited, incorporated in the Cayman Islands, on 11/08/2017, with registration no. CR-326096.

Although, technically this broker holds a licenses, it is not as impressive as the other alternatives out there. The more concerning part about them is the fact that they are affiliated with various bogus scam trading bots on the market. As far as conflict of interest goes, this broker definitely is not at the place where it would be comfortable for us to give an open recommendation.

On the other hand, they do offer decent customer support. If you need any kind of help on their platform, then they can be reached via telephone and email.

Address – Artemis House, Fort Street, KY1-1111, Grand Cayman, Cayman Islands.

Phone – 00134 576 955 71 – 00380 893 240 717

Email – support@everfxglobal.com

Trading Instruments, Platform and Leverage

There are plenty of options when it comes to the list of instruments available. From forex pairs to major CFDs and indices, everything can be accessed with a push of a button. However, be aware of the fact that trading conditions are not the same for all the asset class.

So, it is always better to familiarise yourself with the margin requirements and other important aspects before pulling the trigger. If we are talking in terms of absolute number of pairs available to trade, then the list is nothing out of the ordinary. All the 22 major pairs are available along with the major cryptos.

Since this broker supports MT4, the traders can make use of the Expert Advisors to create a completely automated bots. However, keep in mind that all the EA’s are not flawless and errors might occur during volatile times. On the bright side, you can make use of 1000’s of indicators compatible with the platform to assist you in the decision making process.

Due to the recent developments in the market many brokers have reduced the leverage to 1:30, but this one is still offering a leverage of 1:500. So, if it is leverage you are after, this broker will not disappoint you. Just make sure that you fully understand all the risks involved with higher leverage before you get into any trade.

Account Types

By default, there are 4 types of accounts offered by EverFX Global. $250 is the bare minimum required to get started with them and on the higher end, to unlock all the benefits one might need to deposit upwards of $50,000. This broker is running promotions most of the time and depending upon your account type, it is possible to get upto 100% deposit bonus.

The only issue with bonuses are that, usually you need to meet specific conditions in order to withdraw the funds. So, do your calculations before hand and then decide. Below are the list of all the features associated with various account types.

• Min spread from 0 pips
• Max leverage up to 1:200
• Bonus up to 100%
• Customer support 24/5
• Commission $6 per lot
• Dedicated personal account manager
• Weekly session with a senior market analyst
• Exclusive trading strategies
• Development of an individual business plan
• Ongoing support via Skype
• Investment research & analytics from Trading Central

 

Educational Outlets

Just like many other brokers out there, this one also boasts of featuring an educational outlet on their website. The content consists of all the basic trading related tutorials and is more than enough to equip the newbie traders with the mechanisms of the market. Just to make the pot even sweeter, they also feature videos on things like social trading and live market analysis.

In short, regardless of your experience the kind of material they have is something you should keep an eye on. They also seem to be indulged in providing trading signals, but due to the lack of clarity, we cannot comment anything about it yet. In short, it is indeed nice to see the kind of effort every broker is putting to educate their clients.

Deposit and Withdrawal

The minimum amount required to get started on this brokerage is $250. While the minimum withdrawal amount is not stated, the transaction time period is believed to be around 1 to 2 days on average, but that also depends upon the withdrawal method.

The payment methods accepted by them include major debit and credit cards along with online payment solutions like Skrill, Neteller, etc.

EverFX Global Review Conclusion

EverFX Global is a broker who is subject to a lot of criticism due to their affiliation with dull performing softwares and auto trading bots. While they do bring a lot to the table, if you are okay with their rough history, then proceed with them.

However, remember to first try them out with the minimum deposit requirement and then scale up the capital overtime. After all, being safe is better than being sorry.

Have you used EverFX Global as your primary broker? Leave a comment below to let us know your experience with them.