Connext
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 1.2 pips (Standard account) |
| Trading Platform | MT5 |
| Minimum Deposit | $10 |
| Copy Trading | ✅ |
| Customer Support | Tel: +248 4377028 |
| Email: support@connextfx.com | |
| 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, 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 accounts available | Offshore regulation risks |
| Low minimum deposit of $10 | Commission fees charged |
| No deposit fees | Limited info on deposit and withdrawal |
| MT5 available | |
| 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 | ✔ |
| Precious Metals | ✔ |
| Energies | ✔ |
| Cryptocurrencies | ✔ |
| Indices | ❌ |
| Stocks | ❌ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
| Mutual Funds | ❌ |
Account Type
| Account Type | Micro | Ultra | Standard | No Swap | ULTRA GOLD |
| Minimum Deposit | $10 (1,000 cents) | $10 | |||
| Maximum Leverage | 1:1000 | ||||
| Spread from | 1.4 pips | 0.6 pips | 1.2 pips | 1.5 pips | 1.5 - 2.3 pips |
| Commission | ❌ | From $6 per lot | ❌ | ❌ | From $3 per lot |
| Swap | ✔ | ✔ | ✔ | ❌ | ✔ |
Connext Fees
Spread: 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) | Maximum Leverage |
| ＜15,000 | 1:1000 |
| 15,000 - 30,000 | 1:500 |
| 30,000 - 50,000 | 1:400 |
| 50,000 - 60,000 | 1:200 |
| 60,000+ | 1:100 |
Margin
| Asset Class | Margin |
| 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, Web | Experienced Traders |
| MT4 | ❌ | / | Beginners |
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.
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.
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