Broker Review: EverFX

Today I’m looking at another new Forex and CFD brokerage, focused on providing traders access to hundreds of different assets from one account, EverFX. They believe that by giving traders more choice than other brokers, that they can intrinsically increase the winning percentage of their clients. I’m not sure I agree 100%, but I do see a benefit in being able to trade many different assets, because this allows for different trading approaches and strategies to formulate over time.

This broker is owned and operated by ICC Intercertus Capital Limited, located at Antheon 2, Kato Polemidia, 4151, Limassol, Cyprus. Their support team can be contacted via +357 25 885 050, or support@everfx.com. Their hours of operation are Mon-Fri 9:00-19:00 (GMT+2). Generally, I prefer brokers located in more established countries, but that’s obviously not an option in this case, so I’ll try and look past it during the review.

EverFX Review

The EverFX team pride themselves on considering their clients as teammates, and promise that they are “fully invested in your success.” They believe that the best way of doing business is to educate, empower and build up the strengths of their client base, as effective traders are more likely to be long-term clients. In order to do this, the broker offers 24/5 support, extensive education, ongoing assistance, innovative trading platforms, market alerts to your inbox and competitive trading conditions.

One of the aspects that I’m most interested in, is their trading webinars. I’m not sure if these are prerecorded or not, and that’s one of the things that I’d like to find out. As I’m looking at the webinar page now, I can see that there are 2 webinars available. There is a webinar happening today, the day that I’m writing the review, and another webinar in 5 days. The topic for the first webinar is “types of analysis and indicators,” any topic for the 2nd webinar is “the Forex market and elements of trades.” Both of these sound like very interesting webinars, and if done properly, could certainly help traders advance their skills, which is one of the main goals of this company.

Considering that these webinars are free, I recommend that if you are interested in this broker, that you check them out and see how professional they are. If they are very effective, they can have a positive impact on the brokerage. A lot of Forex brokers are focusing more on their education centers recently, as we’ve seen in recent reviews of AlphabetFX and RoboMarkets.

Breakdown

• Type: Forex Broker
• Founded: Undisclosed
• Location: Cyprus
• Minimum Deposit: $300
• Platform: MT4
• Spread: 0-1.2 Pips

As you can see above, I’m unsure the exact date the EverFX broker was founded. I’ve looked through the about us page, and I even did a WHOIS search, but none of these provided me with much clarity on the issue. If I had to guess, based on when the first reviews of this broker started to pop up, it was likely founded in early 2017. This means that it is a very new broker, and does not have a lot of clients just yet.

Account Types

There are currently 3 accounts available, the standard, the premium and the VIP. Traders can access the standard account for $300, the premium account for $5000 and the VIP account for $30,000. There are a few differences between the accounts. The spreads are much lower on the premium in VIP accounts, and they also offer free virtual private servers. Outside of these 2 aspects, I don’t see a major benefit in increasing your deposit size.

Client Feedback

My research has led me to a handful of review sites, and some of the EverFX reviews have been concerning. In one of the review sites, there was a negative review posted from a client claiming that the platform was allowing him to close a trade. The broker never responded to this review, but instead wrote a review of their own under an alias claiming that the service was very positive and that she shouldn’t have had any issues.

FPA noted that the second review, which was very positive, attacking the negative review actually came directly from the broker headquarters in Cyprus.

It is all is concerning, when a broker is leaving fake reviews throughout the Internet.

Conclusion

My initial thoughts on EverFX were very positive, but in seeing some of the client feedback I’m starting to have different feelings about this brokerage. Hopefully, they can resolve some of these issues and respond to some of these negative reviews in a far better manner. Until then, I don’t see myself signing up just yet.

If you have any experiences with this brokerage, please leave your comments and questions below the article now.