EVERFX Review

Review

EVERFX is a Forex brokerage that offers online trading of Forex and CFDs.  The official name of the business is ICC Intercertus Capital Limited and they are licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).  In addition, the company is registered to offer certain products in the UK.  EVERFX is also registered in Spain and Poland as a foreign investment company.  Although the brokerage has only been licensed since 2016, it does offer quite an impressive list of international registrations.  Clients funds are held in segregated accounts and are kept by the company separate from its own funds.  

The minimum deposit required by EVERFX is $300 which isn’t much, but is notably higher than the minimum deposit required by other Forex brokers.  There are three types of accounts at this brokerage firm.  A Standard account can be opened with a $300 deposit and it allows customers a 50% margin call, 1:500 leverage and charges a $6 per round lot commission.  The next level of account at EVERFX is the Premium account which requires a $5000 minimum deposit.  This account comes with very similar parameters to the Standard account but a slightly smaller commission and a 30% stop out as opposed to the 20% of the Standard account.  The highest-level account available is the VIP account with a minimum deposit of $30,000.  The VIP account only allows leverage of 1:200, has a commission of $4 per round lot and a margin call at 80%.  All three account types at EVERFX have very low spreads starting at 0 PIPS.  Each account type comes with customer support 24/5 and educational resources.  The Standard and Premium accounts have Islamic trading account opportunities as well. 

The most unique aspect of EVERFX seems to be the Status Platform which is one we haven’t seen before.  This platform is a web-based solution that integrates charts, news, signals and social trading capabilities within a single platform.  The Status Platform is available for mobile (Android, iOS) and desktop trading.Traders who are more comfortable with the tried and true can use the MetaTrader 4 platform. 

EVERFX has recently rebranded with a clean, modern website.  Though the site is new, we found the load time to be painfully slow and we noticed that a lot of scrolling is needed to navigate the site which makes for a slightly awkward experience.  Another problem we found is that there is a page for current promotions, but it was entirely blank.  

 

Nevertheless, the offerings that are present on the site look promising. EVERFX offers extensive training and educational opportunities including videos, eBooks and webinars.  Perhaps most importantly, the company offers free 1 on 1 training with a trading professional for three 40-minute sessions.  The website boasts that customer service is available by phone 24/5, though we didn’t test this during our EVERFX review.  

Launched in 2017, EVERFX is a very new brokerage and the jury is still out as to how they will treat their customers in the long term, something to consider before depositing money with them.  We were unable to find many online reviews due to the infancy of the company and while this isn’t necessarily a bad sign, it’s definitely something to keep in mind.  As always, beware and enter with caution. 

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