europefx review

Regulators: CySEC

Cryptocurrencies: YES

Minimum Deposit: $200

Maximum Leverage: 1:200 (Pro)

Spreads: N/A

My Score: 6.1

Hi guys! Today I will introduce EuropeFX. EuropeFX is a Cyprus-based forex and CFD broker offering a wide range of currency pairs.

According to the website of the broker, EuropeFX Cyprus is operated by a Tied Agent – Batchimo LTD. The broker located in Ayiou Athanasiou 46, INTERLINK HERMES PLAZA, Agios Athanasios 4102 Limassol, Cyprus.

The broker’s website takes 70k visitor per month average. The visitors are mainly from Germany with 40% and UK visitor following them with 30%. Others are from Romania, Sweden and many countries. Visitors are usually from Europe, as is the name of the brokerage house.

In this EuropeFX review, you will find answers to the following questions. Is EuropeFX scam or legit? What are the account types, spreads, leverage and minimum deposit offered by the broker? Is EuropeFX regulated?

Regulation of EuropeFX

EuropeFX.com is owned and operated by MAXIFLEX LTD who is registered as a Cyprus Investment Firm (CIF) and licensed by the Cyprus Securities and Exchange Commission (CySEC). The company’s registration number is HE327484 and CySEC license number is 258/14.

europefx regulation

EuropeFX complies with the Markets in Financial Instruments Directive (MiFID II). MiFID II provides a harmonized regulatory environment for investment services across the European Economic Area (EEA).

CySEC is one of the most reputable financial authority along with the Financial Conduct Authority (FCA) in the UK, the National Futures Association in the US and the Australian Securities and Investments Commission (ASIC).

In addition to other requirements, CySEC regulated brokers are required to keep all clients funds in segregated accounts separated from creditors account and to keep a minimum operational capital of at least 730 000 EUR.

In compliance with Law 144(I)/2007, the broker is a member of the Investor Compensation Fund (ICF) covering Clients of Cyprus Investment Firms (CIFs). If you trade with a broker regulated by the CySEC, your funds will be safe up to € 20,000, even if the broker goes bankrupt.

There is a similar compensation scheme in the UK’s FCA covers traders up to 50 000 GBP of their capital. Unfortunately, there is no scheme for ASIC-regulated brokers.

Account Types and Spreads

There are five different account types offered by EuropeFX. These are Bronze, Silver, Gold, Platinum, and Premium account types.

Let’s start to take a look at the account types closer. The Bronze account is the starter one, while trading is available from deposits of €200, the broker recommends its Bronze account starting from a low €1,000 minimum deposit.

The second one is Silver account and it requires €2,500 minimum deposit. One on one trading academy is available up to 3 session total. There is also EuropeFX investments. Trading commissions are 2 pips per lot.

Apparently, the broker has been trying to emphasize the Gold account type. It stands out clearly from other types of accounts on the website of the broker. It seems to the broker want potential customers to tend to choose this account type.

The minimum deposit for the Gold account is €10,000. One on one trading academy is available up to 4 session total. Trading commissions are 2 pips per lot.

The minimum deposit amounts for Platinum and Premium accounts are €25,000 and €50,000, respectively.

The maximum leverage is 1:30 in accordance with (ESMA) regulations. Nevertheless, EuropeFX says it can offer leverage of up to 1: 200 if a trader meets the requirements for a professional trading account.

Trading Platforms

EuropeFX clients have access to a wide range of trading platforms including the most popular trading platform MetaTrader 4, TradeWorks, and the broker’s exclusive EuroTrader.

MetaTrader 4 (MT4) by Metaquotes packs a lot of advanced trading features into a user-friendly and useful interface.

With over 50 technical indicators and access to advanced analytical tools, traders using MT4 have all the tools they need to identify their trends, and with the use of advanced order types, entry and exit points are highly definable for all trades.

Trading Instruments

The broker offers various trading products. All your favorite assets available on a range of trading platforms. You can trade Forex Currencies, Indices, Shares, Commodities & Cryptocurrencies.

Clients of EuropeFX can trade Bitcoin, Ethereum, Litecoin, Ripple and Dashcoin CFDs against the USD in your existing EuropeFX account.

Payment Methods

You can deposit or withdraw funds by using all major credit or debit cards like VISA and MasterCard, bank wire transfer and e-wallets such as Skrill, Sofor, Euteller, SafeCharge, iDeal, GiroPay, SafePay, TrustPay and Przelewy.

Withdrawal fees 40 USD/EUR/GBP for bank wire transfer, no withdrawal fees for credit/debit cards and Skrill. There are 40 USD/EUR/GBP withdrawal fees for e-wallet methods.

Conclusion

EuropeFX is a duly regulated forex broker. As I mentioned in the regulation section, the broker is regulated by CySEC. I would say that there is a problem-free broker in terms of reliability.

They must provide more transparent information about trading conditions, especially spreads. At the same time, the leverage ratio is low due to the ESMA rules. If you are not a professional trader, they can only offer you 1:30 leverage.

For all these reasons, you can decide whether or not to trade with this broker. If you don’t want, I would definitely recommend you to check out my top forex brokers list and find a better forex broker.

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EuropeFX

6.1

Trust

6.0/10

Commissions and fees

5.5/10

Customer Service

6.5/10

Platform & Tools

6.5/10

Product Portfolio

6.0/10

Pros

  • Regulated by CySEC
  • MT4 supported

Cons

  • Lack info about spreads