Review of EuropeFX
EuropeFX is aimed at European traders and unlike other similar exchanges, it also offers straight-through processing trade execution for a more transparent trading environment. Find out if EuropeFX is right for you in this review and learn about the platform’s unique features, security and fee structure.
Pros & Cons
Pros:
Cons:
What can I do with EuropeFX?
EuropeFX is a Cyprus-based forex and CFD broker that offers Web Trader and MetaTrader 4 integration, while also allowing you to enjoy EuroTrader 2.0 and social trading through Mirror Trader, in addition to automated trades through RoboX.
The broker maintains a secure trading environment with over 100 tradable instruments across 5 asset classes and is designed with both beginner and professional traders in mind, offering maximum leverage of 30x for regular accounts per EU regulation and up to 100x for professional accounts.
EuropeFX markets, assets, and options
What assets and products can you trade on EuropeFX?
Traders have access to over 50 currency pairs and six cryptocurrency pairs. Apart from these, EuropeFX also maintains a diverse range of equity CFDs including Microsoft and Amazon, indices, and commodities.
| Product | Offering |
|---|---|
| Forex | 50 |
| Cryptocurrencies | 6 |
| Stocks | 10 |
| Indices | 13 |
| Commodities | 4 |
What leverage trading options are there?
EuropeFX offers competitive leverage but i5 falls under the European Union regulations which allows up to a maximum leverage of 30x for retail account holders. European professional traders have access to up to 200X leverage, based on their trading volume. EuropeFX doesn’t offer any trading leverage for its cryptocurrency CFDs.
Please be aware that trading with leverage carries substantial risk and we do not recommend it without having prior trading experience.
| Product (CFDs) | Maximum leverage | Margin |
|---|---|---|
| Forex | 1:200 | Variable |
| Indices | 1:20 | Variable |
| Stocks | 1:5 | Variable |
| Commodities | 1:10 | Variable |
| Cryptocurrency | None | No leverage offered |
What are the spreads?
EuropeFX charges variable spreads, depending on the type of account you open (Bronze, Silver, Gold, or Platinum), and depending on your individual trading volume.
Spreads start at 0.10 pips per lot and can reach up to 2 pips per lot. There are no hidden rates for special trades, no upcharges for small trades, and also no other charges for trading in particular currencies either.
| Product | Average spread | Fixed or variable? |
|---|---|---|
| Forex | 0.20 pips | Variable |
| Indices | 0.30 pips | Variable |
| Stocks | 0.30 | Variable |
| Commodities | 0.49 | Variable |
| Cryptocurrency | None | Fixed fee |
Fees, limits, and payment options on EuropeFX
What are the deposit and withdrawal fees, limits, and speeds?
EuropeFX offers one of the widest variety of payment methods of any CFD broker, allowing credit/debit cards, wire transfers, and a series of e-wallets, including Paypal and Skrill. The company doesn’t charge any deposit fees but does charge a universal 25 EUR/USD/GBP withdrawal fee, no matter the payment method.
| Payment method | Deposit | Withdraw |
|---|---|---|
| Paypal – min/max – fees – speed | Yes $200/N/A N/A Instant | Yes $1 $25 24 hours |
| Debit/Credit cards – min/max – fees – speed | Yes $200/$50,000 Free Instant | Yes $1/$50,000 $25 24 hours |
| Bank Transfer -min/max -fees -speed | Yes $200/N/A Free 1-2 business days | Yes $100/N/A $25 3-4 business days |
| Skrill -min/max -fees -speed | Yes $200/$50,000 1.45% or min 0.50 EUR Instant | Yes None/$50,000 $25 EUR/USD/GBP 24 hours |
| iDeal -min/max -fees -speed | Yes $200/$50,000 Applicable third-party fees Instant | Yes None/$50,000 $25 24 hours |
| SafetyPay -min/max -fees -speed | Yes $200/N/A Applicable third-party fees Instant | Yes None/$50,000 $25 24 hours |
| Euteller -min/max -fees -speed | Yes $200/$10,000 Applicable third-party fees Instant | Yes None/$10,000 $25 24 hours |
| World Pay -min/max -fees -speed | Yes $200/$100,000 Applicable third-party fees Instant | Yes None/$100,000 $25 24 hours |
| Neteller -min/max -fees -speed | Yes $200/N/A 1.45% or min 0.50 EUR Instant | Yes None/$50,000 $25 24 hours |
How much are EuropeFX’s fees and commissions?
EuropeFX charges variable spreads, depending on the asset you wish to trade. The fees are the same no matter if you’re a professional or regular account holder. However, the fees may vary in percentage if you’re an Australian trader, as opposed to a European trader.
EuropeFX also charges an inactivity fee of $50 for an account that is dormant for more than three months.
| Fee type | Fee amount | Commission |
|---|---|---|
| Forex | – | 0.20 pips |
| Stocks | – | 0.30 pips |
| Commodities | – | 0.49 pips |
| Indices | – | 0.30 pips |
| Cryptocurrency | – | Variable |
| Inactivity | $50 | – |
EuropeFX trade sizes and limits
The minimum trade size starts at 0.01 lots, but the maximum traded volume is determined depending on your account type and whether you’re a professional or a regular trader.
| Product | Minimum trade | Maximum trade |
|---|---|---|
| Forex | 0.01 lots | No limit |
| Stocks | 0.01 lots | No limit |
| Commodities | 0.01 lots | No limit |
| Indices | 0.01 lots | No limit |
| Cryptocurrency | 0.01 lots | No limit |
EuropeFX trading platform
What devices can I use EuropeFX on?
EuropeFX clients have access to a comprehensive selection of trading platforms, from the award-winning Web Trader and MetaTrader 4 platforms to TradeWorks, and EuroTrader. The MetaTrader 4 platform is available for web, desktop, Windows, and Mac users.
- Web browser
- PC Desktop
- Mac desktop
- Tablet
- iOS Mobile Device
- Android Mobile device
Can I use EuropeFX in my country?
EuropeFX is open to all traders EU-wide, including those in Austria, Belgium, Croatia, and Germany. Select your country from the list below to see if it is available where you are.
Is EuropeFX available in my language?
EuropeFX’s main website is available in English, German, Italian, Dutch, and Swedish.
How easy is it to use EuropeFX?
EuropeFX’s interface is intuitive and easy to use, especially for those who are accustomed to either the popular Web Trader or MetaTrader 4 trading platforms. Both the Eurotrader 2.0 and the MetaTrader 4 Web Terminal provide a series of tools and APIs to meet the needs of professional traders, including automatic trading.
The mobile app version can be downloaded to any type of mobile device (smartphone or tablet) and features a user-friendly interface, where you can trade all of EuropeFX’s 100+ instruments with just the touch of a button. EuropeFX also offers a free demo account with a virtual balance of $100,000 that allows new traders to test different trading strategies and improve their skills.
Key features
EuropeFX Bank represents a good alternative for everyone who wants to trade with decent leverage, whether we’re talking about CFDs, forex, stocks, commodities, or indices. Here are some of the broker’s key features.
STP Trade Execution
Straight-through processing (STP) is an automated process performed purely through electronic transfers with no manual intervention by the broker and creates a more open and transparent way to trade.
Educational Portal
EuropeFX values its clients and is fully invested in their trading success. The broker’s Trader Education portal offers access to daily Trading Central analysis, insights, and a complete multimedia trading library filled with articles, online courses, and webinars to meet the needs of both beginner and professional traders alike.
Multiple Account Options
The wide range of account options makes the EuropeFX experience accessible for all types of traders. All the trading accounts come with No-Dealing Desk STP trade execution and fixed, transparent spreads per lot.
Security and regulation
Is EuropeFX safe?
EuropeFX is considered a safe trading platform because it ensures data exchanges are secured using 128-bit encryption on all platforms. Also, all financial transactions are carried out using regulated payment processors on PCI-compliant servers.
Am I and my funds protected?
In line with Cyprus Securities and Exchange Commission regulations, the broker holds client funds in segregated European bank accounts and provides negative balance protection. Clients’ accounts are insured up to a maximum of 20,000 EUR or 90% of a covered investor’s claim, whichever is lower.
Is EuropeFX regulated?
Yes, EuropeFX is registered as a Cyprus Investment Firm (CIF) and is regulated by the Cyprus Securities and Exchange Commission (CySEC), under license no. 258/14.
Although the broker mentioned that it is also regulated in Australia, it went under investigation by the Australian Investments Commission (ASIC) and the Australian authorities ultimately claimed that the company was running an online scheme whereby clients wouldn’t get their money back. As a result, the broker ceased its Australian operations.
Do I have to verify my account with EuropeFX?
Yes, EuropeFX follows a KYC (Know Your Customer) policy that requires all clients to submit personal information, including your first name as it appears on your ID, surname, address, and other identification elements. All information provided is confidential and protected under the European Union’s Data Protection protocol.
You can open a demo account and try various trading strategies and work on your trading skills without providing any personal information.
Extra information
Educational resources
EuropeFX has an entire portal dedicated to educating its clients. On the broker’s website, under the “Education” tab, you can find a series of useful tutorials, an economic calendar, webinars, news, as well as a blog section, and a FAQ.
EuropeFX also provides trading calculators which use real-time data so that you can work out Loss/Take Profit levels, Pivot Points, and more before actually placing your trade.
Tools and charting
Given EuropeFX’s myriad of trading platforms choices there was bound to be at least an equal amount of trading tools and charting options. With a built-in library of over 50 technical indicators, Market Orders, Pending Orders, Stop Orders, Trailing Stops, and the ability to trade from within charts, the broker does not disappoint.
Customer support
There are several ways you can contact EuropeFX, including through their live chat service, available at the bottom corner of the homepage. Email and telephone are also listed as secondary and tertiary contact methods respectively, and there are three dedicated telephone numbers designed specifically for clients from Cyprus, the UK, and Germany.
Our verdict
EuropeFX was originally launched in 2013 and offers over 100 assets to trade, including CFD forex pairs, cryptos, stocks, commodities, and indices. It provides full MetaTrader 4 integration as well as other alternative trading platforms (EuroTrader 2.0, eFXGO!), complete with high-proficiency tools to meet the needs of professional traders.
There are five types of accounts available (Bronze, Silver, Gold, Platinum, and Professional), as well as a demo free account with up to $100,000 of virtual money which you can trade to try out various strategies and bolster your skills. The broker’s full fledged educational portal helps to this extent, as you can stay updated with daily market analysis and learn from the video academy and webinars.
Despite some negative reviews left by former traders and a conflict that saw it withdraw from the Australian market, EuropeFX remains fully regulated in Europe and a good alternative for traders.
How to open an account with EuropeFX
- Click on the ”Login” link in the header on the homepage. Then click on the “Sign Up” now link. Alternatively, you can also choose to open your account using your Facebook or Google login credentials.
- Fill in all the details and follow the steps required to complete the signup process
- You need to verify your email address and then your account by uploading your personal identification documents
- Once these are verified, you can make a deposit and start trading!
EuropeFX is owned and operated by MAXIFLEX LTD. MAXIFLEX LTD is registered as a Cyprus Invest Firm (CIF) and licensed by CySEC.
EuropeFX makes money from spreads and commissions on every transaction made via its trading platform. It also charges a $25 fee for all withdrawals and a $50 inactivity fee after three months.
Based on your country of residence, you may be required to pay taxes on any EuropeFX profits you make after a certain amount. We suggest checking with your local legislation to see the limits and the exact regulation.
Yes, EuropeFX is primarily a CFD broker and offers the option to trade a wide array of CFDs.
There are various methods you can use to sell on EuropeFX, including:
- The Market Watch window on the left-hand side of the trading dashboard
- The “Tools’ tab on the top menu of the dashboard
- F9 button on your keyboard
- One-click trading BUY/ SELL button on Charts (you must first agree to the Terms and Conditions of the One-Click trading)
- Simply by choosing the asset you want to sell and the quantity and clicking the “Sell” button
You can contact the EuropeFX customer service team via the live chatbox on the website or by sending an email to: support@europefx.com asking for the termination of your account.
Since EuropeFX only offers CFDs, shorting is as simple as going to the Market Watch tab in your trading dashboard and clicking “Sell at Market”.
Go to Login and click on the “Forgot my password” button. Input the email address you used to register to EuropeFX and a new password will be sent to that address.
Yes, Paypal is listed as a deposit/withdrawal option with EuropeFX.
If EuropeFX shuts down unexpectedly, any order will remain pending until you can log into your account again and complete it. You can check the status of your orders by logging back into the MetaTrader 4 platform.
In the event that EuropeFX ceases operations altogether, it is a registered member of the Cyprus Securities and Exchange Commission’s Investor Compensation Fund (ICF), which insures client’s deposits up to €20,000 or 90% of a covered investor’s claim, whichever is lower.
To view your MT4 trade history, log into MT4 and go to the “terminal window”. Choose the “Account history” tab at the bottom, then right-click within to choose custom dates and even save the data to your computer.
No, at the moment you cannot use cryptocurrency to pay on EuropeFX.
No, EuropeFX doesn’t currently offer any trading bonuses.
