Is EuropeFX A Legit Broker?
In our EuropeFX review, we will try to give you all the answers to your questions. Who is EuropeFX, where are they, and are they regulated? Read our in-depth review about the EuropeFX broker to enlighten yourself with the basics.
EuropeFX Regulation And Security
EuropeFX is a brand of Maxiflex LTD, Cyprus based company, holding CySEC regulation. After a little bit more research, we found that Maxiflex LTD is a successor company of Maxiflex Global Investments Corp Limited, a company known for its binary options scam.
Another thing we came across is that CySEC accused Maxiflex LTD of violating certain conditions, but they settled in 2020 for 370.000 USD. Red flag at the very start!
What Can You Trade With A EuropeFX Broker?
EuropeFX offers various trading assets. This company provides their clients currency pairs, shares, commodities, indices, and crypto trading.
Clients of EuropeFX can trade on MT4 or EuroTrader, which are web traders designed by the broker itself.
The leverage on every type of account is up to 1:30 for the FX market.
The basic account starts from 200 EUR, while for the Premium account, you need to deposit 50,000 EUR. The main difference, besides the financial aspect, is the Mirror trading option that is available only in the Silver account, and higher leverage for a professional account, which is 1:200.
EuropeFX broker also offers its clients Robot trading, an automated trading system.
If you have no experience whatsoever, or you'd want to learn more, the company has included education about forex trading, along with the Demo account, where you can practice your trading skills before you actually try your luck on the FX market.
EuropeFX Accepts Traders From
EuropeFX broker accepts clients from the EEA zone, plus clients from Argentina, Egypt, Georgia, Indonesia, Israel, Kazakhstan, Lebanon, Malaysia, Nigeria, South Africa, Thailand, UAE, and Aland Islands, since it complies with the regulatory regime of these countries. On their website, it's specifically listed that they do not accept clients from the USA, Iran, Cuba, Crimea, Sudan, Syria, New Zealand, the UK, and North Korea, along with several other restricted countries.
Deposit And Withdrawal Methods
The deposit with EuropeFX can be made via debit or credit card, wire transfer, and different E-wallets. The minimum deposit is 200 EUR. For all the payment methods, there are no fees for deposits.
Withdrawal can be made from the forex trading account to your bank or your card. The company is charging 25 EUR for withdrawals, and this does not correspond to the method you choose.
Conclusion About EuropeFX
Based on everything we were able to find on the EuropeFX broker, we consider it a scam. Yet, we would like you to read more reviews from their forex clients and make a decision yourself from this website: scambrokersreviews.com
