EncoreFX

EncoreFX Information

EncoreFX, established in 2022 in Hong Kong, offers a variety of trading instruments including Forex, metals, energy products, and indices on the MetaTrader 5 platform.

The broker provides multiple account types with leverage up to 1:100. However, it operates without regulation from recognized financial authorities.

Pros and Cons

Is EncoreFX Legit?

EncoreFX is owned and operated by a company registered through Tucows Domains Inc., with its domain first registered on September 8, 2014. However, there is no information indicating that EncoreFX is regulated in its registration location.

What Can I Trade on EncoreFX?

EncoreFX offers four main types of trading instruments: Forex products, Metal products, Energy products, and Product indices. These instruments are accessible through the MetaTrader 5 platform, allowing traders to engage in currency pairs, precious metals, energy commodities, and CFDs on stock indices.

Account Types

EncoreFX offers five types of real trading accounts: Standard Account, Mini Account, ECN Account, Bodies Account, and Capital Account.

Trading Platform

EncoreFX supports MetaTrader 5 (MT5) for trading on both mobile and desktop devices, suitable for experienced traders.

Leverage

The leverage options differ by account type: the Mini Account，the Capital Account and ECN Account offer leverage up to 1:100, while the Bodies Account allows for customizable leverage options, including 1:100 and 1:50.

EncoreFX Speards

EncoreFX incorporates spreads and commissions into its trading structure.

Standard Account: Standard spreads applicable, with no additional commissions.

Mini Account: Floating spreads of 1.5 points.

ECN Account: Competitive spreads (e.g., 1.8 points).

Bodies Account: Offers low spreads with custom leverage options.

Capital Account: Floating spreads of 1.8 points.

Deposit and Withdrawal

EncoreFX does not charge any fees for deposits or withdrawals. The minimum deposit required to open an account with EncoreFX is $500. The platform offers two main deposit and withdrawal options: Online Payment and Wire Transfer.