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Connext

WikiFX | 2023-07-05 10:47

Abstract：Connext is a global CFD broker. It offers trading in forex, precious metals, energies and cryptocurrencies via the MT5 platform, with leverage of up to 1:1000. Account types include Micro Accounts, Ultra Accounts (0.6 pip spread, $6 commission per lot), No Swap Accounts for Islamic traders, and demo accounts. Features such as copy trading and multi-device MT5 access are also provided.

Connext Review Summary
Registered	2022
Registered Country/Region	Saint Vincent and the Grenadines
Regulation	FSA (Offshore Regulated)
Market Instruments	Forex, Precious Metals, Energies, and Cryptos
Demo Account	✅
Leverage	Up to 1:1000
Spread	From 0.6 pips
Trading Platform	MT5
Minimum Deposit	$10
Copy Trading	✅
Customer Support	support@connextfx.com
	+248 4377028
	Facebook, YouTube, WhatsApp

Connext Information

Connext is a global CFD broker. It offers trading in forex, precious metals, energies and cryptocurrencies via the MT5 platform, with leverage of up to 1:1000. Account types include Micro Accounts, Ultra Accounts (0.6 pip spread, $6 commission per lot), No Swap Accounts for Islamic traders, and demo accounts. Features such as copy trading and multi-device MT5 access are also provided.

Pros and Cons

Pros	Cons
Demo account available	Offshore regulation risks
Low minimum deposit of $10	Concealment of FCA regulatory proof
No deposit fees	Commission fees charged
MT5 available	No MT4
Copy trading function

Is Connext Legit?

The Seychelles Financial Services Authority (FSA) offshore regulates Connext with license number SD155. Although the platform claims to be regulated by the FCA, a top UK regulatory authority, it has not provided actual proof. It is recommended that traders prioritize brokers regulated by top-tier regulatory authorities for their transactions.

What Can I Trade on Connext?

Connext provides forex, precious metals, energy, and cryptocurrencies, specifically including over 60 major and minor currency pairs (such as EUR/USD, GBP/JPY), gold, silver, crude oil (such as UKOIL, USOIL), natural gas, Bitcoin, Ethereum, Monero, and more.

Tradable Instruments	Supported
Forex	✔
Energies	✔
Precious Metals	✔
Cryptocurrencies	✔
Shares	❌
ETFs	❌
Bonds	❌
Mutual Funds	❌

Account Type

	Micro	Ultra	Standard	No Swap	ULTRA GOLD
Minimum Deposit	$10 (1,000 cents)	$10	$10	$10	$10
Maximum Leverage	1:1000	1:1000	1:1000	1:1000	1:1000
Spreads From	1.4 pips	0.6 pips	1.2 pips	1.5 pips	1.5 to 2.3 pips
Commission	❌	From $6 per lot	❌	❌	From $3 per lot
Swap	✔	✔	✔	❌	✔

Connext Fees

Spread costs: The minimum spread for major currency pairs is 0.6 pips (Ultra account), and the spread for gold is 1.5-2.3 pips (ULTRA GOLD account).

Commission: $6 per lot for Ultra, $3 per lot for ULTRA GOLD.

Swap: Overnight holding will generate interest for all accounts except the No Swap account, with the interest being positive or negative depending on the long/short position.

Leverage

The leverage can be as high as 1:1000. From 00:00 GMT+2 on April 1, 2024, the new margin rates for financial products will be as follows:

Stock amount range (USD) M	Maximum account leverage
Below 15,000	1:1000
15,000 to 30,000	1:500
30,000 to 50,000	1:400
50,000 to 60,000	1:200
Over 60,000	1:100

Margin

Asset Class	Margin requirement by asset class
FX (Majors, Minors)	Account Leverage
FX (Exotics, Nordics)	1%
Indices (US30 contract size 1, All others 10)	0.5%
Gold	Account Leverage
Energy (NGAS, UKOIL, USOIL)	1%
Indices (US30 contract size 1, All others 10)	10%
Crypto (Except Monero)	20%
Crypto (Monero)	50%
Stocks	10%

Trading Platform

Connext provides MetaTrader 5 (MT5), which supports multi-terminal synchronization, such as desktop, mobile, and web terminals. It also supports the EA intelligent trading system, making it suitable for Experienced traders.

Trading Platform	Supported	Available Devices	Suitable for
MT5	✔	Desktop, Mobile, and Web	Experienced Traders
MT4	❌	/	Beginners

Deposit and Withdrawal

Connext offers a minimum deposit of only $10 and it does not charge any deposit fees. However, other details such as payment options, processing time, and accepted currencies, are not clear.

Copy Trading

Through the built-in Copy mechanism of the platform, users can replicate the strategies of over 6,000 professional traders worldwide, making it suitable for traders lacking time or experience.

Leverage Broker Dealer Forex trading Forex Broker

Related broker

Offshore Regulated

Connext

Company name：Connext LLC

Score

5.36

Website：https://global.connextfx.com/

2-5 years | Regulated in Seychelles | Retail Forex License | MT5 Full License

Score

5.36

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