Etofx Markets Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-10-12 21:27

Abstract：Etofx Markets is a broker with various trading instruments and different account types. Trading instruments include FOREX, CFDs, ETFs, and limited options trading, involving underlying assets including currency pairs, stocks, commodities, indices, and cryptocurrencies. These account types are standard, premium, and VIP. Etofx Markets, an unregulated broker, claims spread as low as 0. Etofx Markets requires a spread of 0.6 pips on EUR/USD and a commission of $3 and also offers maximum leverage of up to 1:500.

Etofx Markets Review Summary
Founded	2-5years
Registered Country/Region	United Kingdom
Regulation	Unregulated
Market Instruments	Forex, CFDs, ETFs, Options
Demo Account	❌
Leverage	Up to 1:500
Spread	From 0.6 pips on EUR/USD
Trading Platform	MT4(Web/Desktop), cTrader(Web/Desktop), WebTrader(Web)
Min Deposit	$250
Customer Support	Email: support@etofxmk.com

Etofx Markets Information

　　Etofx Markets is a broker with various trading instruments and different account types. Trading instruments include FOREX, CFDs, ETFs, and limited options trading, involving underlying assets including currency pairs, stocks, commodities, indices, and cryptocurrencies. These account types are standard, premium, and VIP.

　　Etofx Markets, an unregulated broker, claims spread as low as 0. Etofx Markets requires a spread of 0.6 pips on EUR/USD and a commission of $3 and also offers maximum leverage of up to 1:500.

Pros and Cons

Pros	Cons
Leverage up to 1:500	Unregulated
Spread as low as 0(From 0.6 pips on EUR/USD)	Only one contact method: email
4 trading instruments: FOREX, CFDs, ETFs, and Limited Options	Numerous accusations of pyramid schemes and fraud
3 account types: standard, premium, and VIP	Home page closed
	Difficulty of withdrawing money

Is Etofx Markets Legit?

　　Etofx Markets is not regulated and the broker's domain name has not been registered, which means the company will have security issues.

What Can I Trade on Etofx Markets?

　　Etofx Markets offers assets involving currency pairs, stocks, commodities, indices, and cryptocurrencies. Traders can choose trading instruments such as FOREX, CFDs, ETFs, and limited options to invest in these assets.

Tradable Instruments	Supported
Forex(currency pairs)	✔
Commodities	✔
Stocks	✔
Indices	✔
Cryptocurrencies	✔
CFDs	✔
ETFs	✔
Limited Options	✔

Account Type

　　Etofx Markets provides three account types: standard, premium, and VIP. It can be observed that the VIP account has the lowest spreads on both EUR/USD and GBP/USD, which are 0.6pips and 0.8pips respectively. The standard account has the highest two items, with 1pips on EUR/USD1pips and 1.2pips on GBP/USD respectively.

Account Type	Standard	Premium	VIP
Spread on EUR/USD	1.0pips	0.8pips	0.6pips
Spread on GBP/USD	1.2pips	1.0pips	0.8pips
Commission	$3	$3	$3
Maximum leverage	1:500	1:500	1:500
Minimum deposit	$250	$250	$250

Etofx Markets Fees

　　The EUR/USD spreads for standard, premium, and VIP accounts are 1pips, 0.8pips, and 0.6ips respectively. In addition, Etofx Markets requires a commission of $3.

Leverage

　　Etofx Markets offers the highest spread of 1:500, which means both gains and losses are expanded 500 times.

Trading Platform

　　Etofx Markets supports web-based trading platforms: MT4, cTrader, and WebTrader. MT4 and cTrader also support the desktop version. Even so, the version available from Etofx Markets is not flexible enough and lacks a mobile version.

Trading Platform	Supported	Available Devices
MT4	✔	Web, Desktop
cTrader	✔	Web, Desktop
WebTrader	✔	Web

Deposit and Withdrawal

　　Minimum deposit is $250. Etofx Markets provides various payment methods: credit/debit cards, bank wire transfers, eWallets, and cryptocurrencies. The processing time is that credit/debit cards are processed immediately, while eWallets and cryptocurrencies require 1-3 working days. In addition, bank wire transfers need 3-5 working days to arrive.