EuropeFX -Overview of Minimum Deposit, Spreads & Leverage

BASIC INFORMATION:

EuropeFX offers multiple trading instruments on a choice of desktop and mobile apps. EuropeFX is owned and operated by Maxiflex Ltd, a company registered in Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker holds an STP trade execution license.

EuropeFX offers trading on over 300 forex and CFDs on the MetaTrader 4 platform as well as the brokers EuroTrader platform and FXGO! mobile app. Traders can also choose from 5 accounts offering various perks suited to both beginners and experienced traders.

REGULATORY INFROMATION: LICENSE

EuropeFX is registered as a Cyprus Investment Firm (CIF) and is regulated by the Cyprus Securities and Exchange Commission (CySEC), under license number 258/14..

MINIMUM DEPOSIT

There are 5 live account levels: Bronze, Silver, Gold, Platinum, and Premium. The accounts differ mostly in terms of the minimum deposit and access to additional features such as private trading sessions and VIP services. The recommended minimum deposit starts at €1,000 for the bronze account (though €200 is also permitted) and this goes up to €50,000 for the Premium account.

MARKETS

Asset classes available at EuropeFX include:

· Stocks – Dozens of blue-chip stocks, including pharma and cannabis stocks

· Commodities – Trade on precious metals, agriculturals, and energies

· Cryptocurrencies – 6 cryptos available including Bitcoin

· Forex – 50 major, minor, and exotic pairs available

· Indices – 13 well-known stock indices and futures

SPREAD & COMMISSIONS

The broker promotes spreads as low as 0.1 pips but isnt transparent with specific spreads on their website. The contract specifications document details some trading costs, including commissions from €20 per lot for currency pairs with the bronze account, which drops to €10 per lot with higher account levels.

Other fees include overnight swap fees and a 50 EUR/USD/GBP inactivity fee after 3 months of account dormancy

LEVERAGE

Leverage is available up to 1:30 for forex, up to 1:20 for indices, 1:5 for stocks, 1:10 for commodities, and 1:1 for cryptos. Professional traders can apply for leverage up to 1:200. Details of the margin requirements are provided in the contract specifications document.

PAYMENT METHODS

EuropeFX offers a number of funding methods including bank transfers, credit cards, and e-wallets. All methods are authorized by European regulators including the FCA and BaFIN. Card payments and e-wallets are processed straight away, whilst bank transfers generally take 24 – 48 hours. There are no deposit fees charged by EuropeFX.

The minimum withdrawal amount allowed is 1 EUR/USD/GBP and the maximum is the available equity in your account. Withdrawal fees are 25 EUR/USD/GBP and requests take 24 hours to process on the brokers side.

DEMO ACCOUNT AVAILABLE

Anyone can open a risk-free demo account with EuropeFX, which credits users with €100,000 in virtual money. The demo account is a great tool for beginners who want to practice their skills in a virtual environment and test out the platforms features. The account will expire 30 days after registration.

TRADING PLATFORMS

· EuroTrader 2.0

· Meta Trader 4

TRADING HOURS

EuropeFXs platform opening hours are 24/6, Monday to Saturday, but timings for specific instruments vary depending on the market. These can be found within the trading platforms or in the asset index on the website. All times are in GMT+2/GMT+3 DST.

CUSTOMER SUPPORT

There are several ways you can get in touch with EuropeFX, including the live chat service which is accessible by clicking the logo in the bottom corner of the website. You could also use the Whatsapp, Viber, or Telegram chat services, though these are only used for the submission of documents. Support is also available via:

· Email – support@europefx.com

· Telephone contact numbers – +357 24 022 444 (CY) / +44 870 8200 300 (UK) / +49 303 080 7676 (DE)

· Address – 46 Ayiou Athanasiou Avenue, Floor 1, Office 101, 4102 Limassol, Cyprus

The customer service team can assist with a range of queries, from Bitcoin rush trading to how to close and delete an account.