We are looking at a Forex and CFDs broker (EverFX) promising access to hundreds of different assets for trading. EverFX believes that if they can let traders gain access to a number of trading instruments, they can significantly increase their win rate. This is not necessarily true. However, it can give the benefit of being able to trade at all times because the more the number of trade-able assets, the more the number of signals that can be traded at any given time.
Also, if EverFX is letting traders enjoy hundreds of assets on one account, it only means that traders can formulate their own trading approaches and strategies over time across different assets. This can significantly increase their success rate for those who know what they are doing and not just any other trader who signs up to the platform.
EverFX is owned and operated by ICC Intercertus Capital Limited. This entity is located in Cyprus as they have listed a Cyprus address on their website. The specific address in question is Antheon 2, Kato Polemidia, 4151, Limassol, Cyprus. In addition to this, the broker has provided a phone number and an email address for reaching their agents. This is a standard feature across all brokers and so we expect a professional Forex and CFDs broker to provide phone and email support at no extra charge.
Also, brokers who are located in more established countries tend to be more reliable than their counterparts who are located in less established countries of the world. You can sign up with these brokers if you are looking for decent FX and CFDs brokers to trade with. As you can see, EverFX is not one of the brokers located in jurisdictions with heavy regulations.
EverFX promises that they are considering their clients their team-mates. They also promise that all their time and effort is fully vested in the client and his success. The main goal is to educate, empower and make sure that their client base is strong enough because a successful trader is most likely going to be a long term client. For them to succeed in this mission, EverFX has resorted to providing extensive education, 24/5 support, an innovative trading platform, ongoing assistance, competitive trading conditions as well as market alerts directly into your inbox.
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On top of this, EverFX is also offering trading webinars and we are not so sure if these webinars are pre-recorded or not. At the time of writing this review, their webinars page had two webinars already. We have looked keenly at the titles of these webinars and found them to be very interesting. If indeed the content is educative, then this broker could gain foot into this competitive industry because it will contribute to the company’s bottom line of retaining customers for the long term.
Since these webinars are free, there is nothing that stops you from attending one to see how well they are presented. This could help you make a decision on whether or not EverFX is a broker of choice. Many Forex brokers have decided to invest in their educational centers as well. It’s the current trend. So if these webinars prove to be effective, then this could prove to bring good results for the broker.
They are offering 3 account types namely standard, premium and VIP. The minimum deposit of $300 applies to the standard account. The premium account starts at $5,000 while the VIP account types goes for $30,000. Each one of these accounts has different features. For instance, in the VIP account type, EverFX is offering much lower spreads and there is also access to a free private Virtual server. This is indeed not free at all considering the amount of money that a client is required to fund their VIP account with. Outside these two significant benefits, there is no other reason why a trader would go for the bigger account types.
The broker runs the popular MT4 platform and claims that spreads are anywhere between 0-1.2. These spreads are within industry range. However, their minimum deposit of $300 is quite high for some traders who are not willing to risk that much upfront. The other issue is that the start date of this broker is not known. We have looked at their about us page but the broker seems to be quiet on this issue.
However, if we can guess, our best bet would be that the broker was founded in 2017. This is when some reviews started to crop up about them on Google. This means that EverFX is a brand new broker, and they might not have a lot of clients at their disposal yet.
EverFX has a few reviews which are worth looking at, and some of these reviews are not pleasing at all. In one of the forums discussing matters related to Forex trading, a client claimed that they were experiencing issues with closing their trades. Instead of directly responding to the claim, the broker just used an alias to issue a complementary comment where they said that the brokerage was providing positive experience for all their clients and that the client should not have heard any issues.
The moderators then confirmed that this review was coming from the headquarter of this broker in Cyprus. It was therefore a fake review written under the guise of another customer. This is not a good thing, and we believe that if EverFX can leave fake reviews on the internet, it simply means that they are not doing things the correct way.
At first, we thought that EverFX was a decent Forex and CFDs broker worth trading with. It only dawned on us that this broker was somehow rogue based on the fake reviews which we discovered on the FPA forum. It is therefore going to be an impossible task to ask any one of you to sign up. Good and professional Forex and CFDs brokers can be found here.
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