Established in Cyprus in 2014, EuropeFX is a regulated online broker that provides trading services in forex and CFDs on equity indexes, stocks, commodities, and cryptocurrency through their multiple trading platforms that include various MT4 applications, EuroTrader 2.0, and eFXGO. They offer competitive spreads and commissions, straight through processing (STP) execution, trading tools, educational materials, various account types, multiple funding options along with negative balance protection.
EuropeFX Review, Pros & Cons
- Regulated broker
- Range of flexible & easy to use trading platforms
- Variety of account types & funding options
- 300+ trading instruments
- Educational resources
- MirrorTrader & RoboX
- Trading Central, TipRanks & Signal Widgets
- No US or UK clients
- Max 1:30 leverage for non-professional traders
In this detailed EuropeFX review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
EuropeFX is an online brokerage brand operated by MAXIFLEX LTD, with offices in Cyprus and Germany. They offer a wide range of forex and CFD trading instruments, including currency pairs, commodities, equity indexes, stocks, and cryptocurrency.
The broker provides their clients with a selection of intuitive and user-friendly trading platforms, including EuroTrader 2.0, eFXGO, and different applications of the popular MetaTrader 4 (MT4) platform – with desktop, web and mobile terminals. The broker offers relatively low commission and tight spreads, STP executions, negative balance protection, and segregated bank accounts for clients’ funds, with a minimum $200 deposit requirement.
The brand name, EuropeFX, is owned and operated by MAXIFLEX LTD, which is registered as a Cyprus Investment Firm (CIF) with the registration number HE327484 and authorized by the Cyprus Securities and Exchange Commission (CySEC) under license number 258/14.
EuropeFX complies with the Markets in Financial Instruments Directive (MiFID II). MiFID II provides a harmonised regulatory environment for investment services across the European Economic Area (EEA). The main objectives of the MiFID II Directive are to enhance financial transparency, increase competition, and offer greater consumer protection in investment services.
EuropeFX, being a Cyprus Investment Firm (CIF), is a member of the Investor Compensation Funds (ICF), so each eligble client’s funds are insured to the tone €20,000, in case the broker goes bankrupt. The broker keeps clients’ funds in segregated accounts in top European banks, which means that the broker should not use them in running their day-to-day operations.
EuropeFX provides their services to residents of the European Union, as well as clients from other parts of the world — the domestic regulations of a client’s resident country do not prohibit operation. However, the broker states that they do not offer their services to residents of the US, Iran, Cuba, Crimea, Sudan, Syria, New Zealand, North Korea, United Kingdom, as well as some other additional jurisdictions.
Some EuropeFX broker features and products mentioned within this EuropeFX review may not be available to traders from specific countries due to legal restrictions.
MetaTrader 4 Platform
MetaTrader 4 is arguably the most widely used trading platform in the world. It comes with a lot of advanced trading features, an intuitive user-friendly interface, and an impressive array of analytical tools with up to nine time-frames available for each of the assets supported on the platform.
At EuropeFX, MetaTrader 4 is available in the following forms:
- Installable desktop application
- Mobile app for iOS and Android devices
- Non-installable browser-based web platform
The broker also makes available to their clients the latest version of EuroTrader, which is a web-based trading platform that is light on resource use but comes packed with all the features traders want in their forex and CFD trading platforms. It supports forex, indices, commodities, stocks, and cryptocurrency trading. Other features include customizable indicators, multiple chart types, and one-click trading.
EuropeFX also provides an alternative to the MT4 mobile trading platform and is called eFXGO!. It offers real-time market data, including pricing and charts, and syncs directly with your account ‘Client Area’, making account management easy.
With the broker’s new mobile trading app, you can open and close positions, access live currency rates, and manage your trading accounts.
EuropeFX Trading Tools
EuropeFX provides their clients with MirrorTrader, a tool developed by Tradency to enable traders to mirror or copy trades from selected strategy developers into their own trading accounts. There are no guarantees on the performance when copying signals from other traders.
This is a trading robot developed by Tradency, which is available to EuropeFX traders. The robot’s algorithm uses packages of smart trading strategies, customized to your trading style and risk management strategies. There are no guarantees on the performance when using this robot and you should have a clear understanding of the significant risks involved with trading online.
Trading Central is a popular technical analysis and signal provider. EuropeFX makes it easy for their clients to subscribe to Trading Central and benefit from their timely market analysis.
EuropeFX adds to their trader tool, a signal streaming widget from the leaders in advanced trading materials for financial products — Trader’s Education and Trading Central. There are signals for most instruments offered by the broker, and they often come with chart analysis.
EuropeFX clients get access to the stock analysis widgets from TipRanks. Being one of the leading aggregators of big data, TipRanks specializes in presenting complex financial information in a simplified, actionable format. The EuropeFX integration adds the stock widgets from TipRanks directly into their trader’s client area for easy access.
Economic Calendar & Market News
The broker also provides an economic calendar, which keeps traders abreast of the scheduled events in the financial markets, as well as real-time market news.
EuropeFX have a generous selection of educational resources that can be used to help clients improve their trading skills and knowledge. This helps to show that the broker encourages informed trading decisions.
The broker has a number of video courses on their website. Some of the essential topics about forex trading, market analysis, technical indicators, and trading strategies are covered in the video courses.
EuropeFX’s analysts often organize daily webinars to improve their clients’ knowledge of trading strategies and techniques, while keeping them up to date with the latest market news from around the world. The weekly schedule of the webinars are on their website.
Trading Blog & Market Review
EuropeFX have a trading blog that is frequently updated with the latest market news and reviews. It includes detailed articles that cover the global markets. This can be a useful resource as part of conducting fundamental analysis.
EuropeFX offers more than 100 instruments spread across forex, indices, commodities, stocks, and cryptocurrency.
- Forex: The broker offers both the major, minor, and exotic FX currency pairs.
- Stocks: EuropeFX offers CFDs on many of the most highly traded blue-chip stocks from markets around the world. They also offer CFD trading in cannabis stocks.
- Indices: EuropeFX offers access to a diverse range of indices, such as the FTSE-100, Standard & Poor’s 500 (S&P 500), Dow Jones Industrial Index (DJIA), Japanese Nikkei 225 (NI225), and others.
- Commodities: With this broker, you can trade CFDs on different commodities, including precious metals and energies.
- Cryptocurrency: EuropeFX offers CFD trading in Bitcoin, Ethereum, Litecoin, Ripple, and Dashcoin against the USD.
EuropeFX Accounts & Fees
EuropeFX offer a selection of trading account types to suit the needs of different traders. Whilst trading is available from deposits of €200, the Bronze account deposit recommended by the broker is €1,000. Each account type includes:
- Online Chat Support
- Demo Account
- Segregated Bank account
- STP / No Dealing Desk
- Access to all Trading Platforms
- Maximum Leverage 1:30
- Professional Account Leverage 1:300
- Stop Out Level 50%
- Access to Online Education Center
- Variable Spread 0.1 pip
EuropeFX offer 5 basic trading account types:
- Bronze: Minimum deposit of €1,000, variable spread starting from 0.1 pip, stop out level at 50%, and maximum leverage of 1:30.
- Silver: Minimum deposit of €2,500, variable spread starting from 0.1 pip, 1;30 maximum leverage, and stop out level at 50%.
- Gold: Minimum deposit of €10,000, variable spread starting from 0.1 pip, stop out level at 50%, maximum leverage of 1:30, and up to 10% discount in trading commission.
- Platinum: Minimum deposit of €25,000, maximum leverage of 1:30, variable spread from 0.1 pip, stop out level at 50%, and up to 25% discount in trading commission.
- Premium: Only for professional traders, Minimum deposit of €50,000, up to 1:300 leverage, variable spread from 0.1 pip, sand up to 50% discount in trading commission.
EuropeFX provides multilingual customer support services via multiple channels, such as online form, telephone, online chat, Whatsapp, Viber, and Telegram. The customer support service is available to provide traders with the necessary support all through the trading hours. There are both German and Cyprus phone numbers on their website.
EuropeFX Deposit & Withdrawal
EuropeFX accepts many payment methods for funds deposit and withdrawal. While the broker does not charge for deposits, your financial service provider may charge some fees. For all the withdrawal methods, there is a 25 EUR/USD/GBP charge.
Here are the payment methods you can choose from when making a deposit or withdrawal:
- Bank Transfer: Deposit currency is USD, EUR, or GBP, and there is no maximum amount you can transact.
- Credit/Debit Card: The broker accepts only MasterCard and Visa cards, and the maximum transaction is USD 50,000.
- Online wallets: The broker accepts Skrill, iDEAL, SafetyPay, SoFort, Giropay, TrustPay, Euteller, and Przelewy24. The maximum transaction for SoFort and Euteller is USD 10,000, while for iDEAL and Skrill, it’s USD 50,000. Others have no maximum transaction limit.
Some fees may be charged when using certain payment methods. Withdrawal requests are processed within the same day or next if outside working hours. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant.
Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries. EuropeFX strictly does not accept third-party payments. All funds deposited into your trading account must be under the same name as your EuropeFX trading account.
Accounts can be opened USD, EUR, GBP. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
As broker fees can vary and change, there may be additional fees that are not listed in this EuropeFX review. It is imperative to ensure that you check and understand all of the latest information before you open a EuropeFX broker account for online trading.
EuropeFX Account Opening
It is easy to start trading with EuropeFX. All that is required is to follow the 4 easy steps:
To register, click on the ‘Open Account’ button on the top left corner of the broker’s homepage and fill the form that is displayed.
You will be asked to verify your email and upload your KYC documents, which include your means of identification and a proof of address. Verifying your KYC documents may take a while, but once it is done, you can fund your account and start trading. It is imperative that you read and clearly understand all of the brokers terms and conditions before you open a trading account.
EuropeFX is an online forex and CFD broker that offers trading in multiple currency pairs, equity indices, commodities, stocks, and cryptocurrency. They have a variety of account types, deposit/withdrawal methods and provide traders with MT4 desktop, web, and mobile applications, as well as the EuroTrader 2.0 and eFXGO! platforms.
The broker offers competitive spreads, fast STP execution, negative balance protection and provides traders with several trading tools, such as MirrorTrader, RoboX, Trading Central, TipRanks and Signal widgets. There is also a good selection of educational materials available on the brokers website.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.94% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.