Suspicious Clone

Score

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/10

everfx

Cyprus

|

5-10 years

Suspicious Regulatory License|

Medium potential risk

https://everfx.com/

Website

Rating Index
Influence

Influence

C

Influence Index NO.1

United States 2.61

Better than 94.67% exchange(s)

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Influence
C

Licenses

CYSEC

CYSECSuspicious Clone

Investment Advisory License

Exchange Info

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Company Name
everfx
Phone of the company
+357 25 885 000
Customer Service Email Address
support@everfx.com

WikiBit Risk Alerts

1
Previous Detection 2024-06-15

It has been verified that this Exchange currently has no valid regulation, please be aware of the risk!

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Time Machine

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User Reviews

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8 ratings

Participate in evaluation
FX1117632424
This is my opinion on EverFX: the trading fees are too high, it's simply robbing money! It may not be noticeable in the short term, but it accumulates and becomes terrifying. Also, the security measures for the wallet are terrible, there is no guarantee for the safety of my virtual currency.
2024-03-25 12:00
7
Scarletc
EverFX is a reliable platform that can be considered trustworthy due to its strict regulatory practices
2023-11-21 19:00
2
Dazzling Dust
EverFX offers a wide range of tradable assets, a user-friendly platform, and excellent customer support, catering to both novice and experienced traders. However, it may have higher trading costs, limited educational resources, and geographic restrictions on account availability. Careful consideration is key when choosing EverFX.
2023-10-29 23:06
5
FX1023795160
Everfx's interface is clear and easy to use, and its trading options are diverse. However, there are improvements to be made regarding privacy and data protection, and the customer service response is also quite slow.
2023-12-06 12:39
2
Gentle Tommy
EverFX is a great platform and excellent customer support, which offer trader the choice of two platform.
2023-11-04 01:47
9
Bintarasul
is a very effective and efficient platform
2024-01-22 16:37
4
Verified Trader
EverFX offers traders the choice of two trading platforms, namely MetaTrader 4 (MT4) and its proprietary platform called Status.
2023-04-14 18:16
0
Verified Trader
EverFX is a CFD and forex broker that has been around since 2016, offering its clients access to various financial markets such as forex, commodities, indices, and stocks.
2023-04-14 18:16
0
Aspect Information
Company Name EverFX
Registered Country/Area EURO BANK
Founded year 2016
Regulatory Authority Regulated by CySEC
Numbers of Cryptocurrencies Available 10
Fees 0.10%-0.15%
Payment Methods Credit cards, Debit cards, Bank transfers, E-wallets (such as Skrill, Neteller, and PayPal), and Cryptocurrencies
Customer Support Live chat, Email, Phone, Knowledge base, and Social media

Overview of everfx

EverFX is a reputable financial trading company founded in 2016 and registered in EURO BANK. It operates under the regulatory oversight of CySEC, ensuring a secure and compliant trading environment. With a diverse selection of 10 cryptocurrencies, EverFX provides opportunities for traders to explore the dynamic world of digital assets. The platform offers competitive fees ranging from 0.10% to 0.15%, catering to various trading preferences. EverFX embraces convenience by supporting a wide array of payment methods, including credit and debit cards, bank transfers, e-wallets like Skrill, Neteller, and PayPal, as well as cryptocurrencies. Their commitment to customer satisfaction is reflected in the availability of multiple customer support channels, including live chat, email, phone, a knowledge base, and engagement through social media platforms.

Overview of everfx

Pros and cons

Pros Cons
Regulated by Cyprus Securities and Exchange Commission (CySEC) Limited availability
Multiple payment methods Not user-friendly interface
Multiple customer support options No demo account

Pros:

  • Regulated by Cyprus Securities and Exchange Commission (CySEC): EverFX is regulated by a reputable authority, providing users with a sense of security and trust.

  • Multiple payment methods: EverFX empowers users with a variety of payment options, encompassing EverFX. This multiplicity of payment methods not only enhances convenience but also accommodates users' diverse preferences, facilitating seamless and flexible transactions tailored to individual needs.

  • A wide range of customer support options: The platform provides various customer support channels, including Live chat, Email, Phone, Knowledge base, and Social media, ensuring that users have the flexibility to seek assistance through their preferred channels, enhancing accessibility and convenience. This approach also increases the likelihood of prompt issue resolution, improving overall user satisfaction and trust in the platform.

Cons:

  • Limited availability: An aspect worth noting is its limited availability, stemming from regulatory constraints in specific jurisdictions that prevent its accessibility in certain countries.

  • Not user-friendly interface: EverFX user interface has been criticized for its lack of user-friendliness, with cumbersome navigation and unintuitive design.

  • No demo account: EverFX does not offer a demo account, which can make it difficult for new traders to learn how to use the platform.

Regulatory Authority

EverFX is regulated by the Cyprus Securities and Exchange Commission (CySEC). The regulatory agency's Regulation Number for EverFX is 301/16, indicating that the exchange operates under the regulatory framework set by CySEC. EverFX is considered a regulated exchange, meaning it meets the necessary requirements and standards set by the regulatory authority. The license type held by EverFX is an Investment Advisory License, and the license name is ICC Intercertus Capital Ltd. By being regulated by CySEC, EverFX demonstrates its commitment to operating in accordance with legal and regulatory obligations in the virtual currency exchange industry.

Regulatory Authority

Security

In the realm of security, EverFX takes significant strides to safeguard its users' interests. The company boasts regulatory approval from both the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA), positioning it under stringent financial oversight. This regulatory framework ensures that customer funds are shielded within a structured and monitored environment, instilling a sense of trust and credibility.

EverFX is equally diligent in securing its users' sensitive information. Employing SSL encryption, the platform safeguards personal and financial data from potential threats, reassuring traders about the privacy of their transactions and interactions. Bolstering these protective measures is a dedicated security team, actively monitoring the platform for any suspicious activities. This proactive stance helps fortify customer accounts against fraud and cyberattacks, contributing to an overall secure trading environment.

However, EverFX's security record hasn't been completely unblemished, as it has encountered cyberattacks in the past. Despite these challenges, the company has consistently demonstrated resilience by recovering from these incidents and ensuring the protection of customer funds, which underscores its commitment to safeguarding its user base.

On the flip side, some areas of concern exist. EverFX currently lacks the implementation of two-factor authentication (2FA), a common extra layer of security that mitigates unauthorized access to accounts. This omission might raise concerns among users who prioritize enhanced security measures in their trading activities.

Moreover, the company has faced allegations of employing high-pressure sales tactics to persuade traders to open accounts, potentially raising eyebrows about its transparency and customer-oriented practices. While these concerns should be weighed carefully, they do not overshadow EverFX's broader commitment to regulatory compliance and user security measures.

Security

Cryptocurrencies Available

EverFX offers a diverse selection of 10 cryptocurrencies available for trading on its platform. The list includes well-known cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), as well as stablecoins like USD Coin (USDC). Additionally, users can trade in assets like Binance Coin (BNB), Ripple (XRP), Cardano (ADA), Dogecoin (DOGE), Solana (SOL), Polkadot (DOT), and Avalanche (AVAX). This array of cryptocurrencies provides traders with various options to engage in the cryptocurrency market and tailor their trading strategies according to their preferences.

Cryptocurrencies Available

How to open an account?

The registration process for EverFX is a simple and straightforward process. Here are the six steps:

1. Visit the EverFX website and click on the “Open Account” button.

2. Fill out the registration form with your personal information, including your name, email address, and phone number.

3. Choose your desired account type, such as a live trading account or a demo account for practice.

4. Verify your identity by providing the necessary documents, such as a valid ID or passport and proof of address.

5. Set up your account preferences, including choosing a secure password and selecting your preferred base currency.

6. Agree to the terms and conditions, and complete the registration process by clicking the “Submit” button. Once your registration is reviewed and approved, you will receive confirmation and can begin trading on the EverFX platform.

Fees

EverFX implements a fee structure designed to encourage market liquidity and enhance trading efficiency. When you contribute to the market's liquidity by placing an order that adds depth, like a limit order, you incur a maker fee of 0.10%. Conversely, if your order removes liquidity from the market, as with a market order, you are subject to a taker fee of 0.15%. This differentiation in fees aims to motivate traders to provide liquidity, as a higher maker fee incentivizes this activity. The availability of liquidity is a vital aspect of trading, ensuring smoother transactions and enabling traders to execute orders at equitable prices.

Here is a table summarizing the maker and taker fees for EverFX:

Cryptocurrency Maker Fee Taker Fee
Bitcoin (BTC) 0.10% 0.15%
Ethereum (ETH) 0.10% 0.15%
Tether (USDT) 0.10% 0.15%
USD Coin (USDC) 0.10% 0.15%
Binance Coin (BNB) 0.10% 0.15%
Ripple (XRP) 0.10% 0.15%
Cardano (ADA) 0.10% 0.15%
Dogecoin (DOGE) 0.10% 0.15%
Solana (SOL) 0.10% 0.15%
Polkadot (DOT) 0.10% 0.15%
Avalanche (AVAX) 0.10% 0.15%

Payment Methods

EverFX offers a comprehensive range of payment methods for both deposits and withdrawals, ensuring flexibility for users. These methods include credit cards, debit cards, bank transfers, e-wallets (such as Skrill, Neteller, and PayPal), and cryptocurrencies. Withdrawal fees on EverFX vary according to the chosen payment method; for instance, credit card withdrawals incur a 2.50% fee, while bank transfer withdrawals involve a fee of 20 USD. Deposit fees differ as well, with credit cards and bank transfers having no fees, but e-wallet deposits incurring a 2.50% fee. Processing times also depend on the payment method; withdrawals via credit cards or bank transfers usually take 1-3 business days, while e-wallet withdrawals typically process within 1-2 hours. For a summary of withdrawal fees and processing times, refer to the table below:

Payment Method Withdrawal Fee Processing Time
Credit cards 2.50% 1-3 business days
Bank transfers 20 USD 1-3 business days
E-wallets 2.50% 1-2 hours
Cryptocurrencies Varies Varies
Payment Methods

Educational Resources

EverFX provides a range of educational resources and tools to assist traders in making informed trading decisions. These resources include advanced charting software, economic calendars, market analysis, and educational materials. The advanced charting software allows traders to analyze price movements and identify trading opportunities. The economic calendars provide information on important economic events and announcements that may impact the financial markets. Additionally, EverFX offers market analysis, including technical analysis and fundamental analysis, to help traders understand market trends and factors influencing asset prices. The platform also offers educational materials that cover various topics, including trading strategies, risk management, and market insights. These resources aim to support traders in improving their trading skills and knowledge.

Is everfx a Good Exchange for You?

For Beginner Traders:

EverFX stands as a promising platform for novice traders embarking on their trading journey. The regulation by the Cyprus Securities and Exchange Commission (CySEC) lends a significant layer of security, providing an environment conducive to learning without undue risk. The availability of multiple payment methods ensures ease of transactions, catering to the diverse financial preferences of beginners. However, it's worth noting that the platform's limited availability could potentially pose a hindrance for some beginners in specific regions.

For Experienced Traders:

Experienced traders will find EverFX's regulated status under CySEC reassuring, bolstering their confidence in the platform's integrity. The array of payment methods further streamlines trading operations, catering to their sophisticated requirements. The diverse customer support options, including live chat, email, phone, and more, are particularly beneficial for addressing their intricate queries promptly. Nonetheless, the platform's interface, critiqued for its lack of user-friendliness, might present a challenge for seasoned traders accustomed to efficient navigation.

For Cryptocurrency Enthusiasts:

Cryptocurrency enthusiasts can find solace in EverFX's regulated status, offering a layer of legitimacy and accountability. The platform's multifarious payment methods, which span the realm of cryptocurrencies, allow enthusiasts to engage with their preferred assets seamlessly. The wide range of customer support options enhances accessibility, enabling enthusiasts to resolve any inquiries swiftly. However, the absence of a demo account might hinder enthusiasts' exploration of the platform's offerings before committing funds.

For Investors Seeking Regulatory Compliance:

Investors prioritizing regulatory compliance will find EverFX a suitable candidate, backed by CySEC regulation that underpins its commitment to transparency and financial responsibility. The platform's offering of various payment methods further aligns with investor preferences for secure and diversified transaction channels. The extensive customer support avenues reinforce the platform's dedication to assisting investors in navigating the intricacies of trading. Nevertheless, the limited availability due to regional restrictions could potentially limit opportunities for some investors.

Is everfx a Good Exchange for You

Conclusion

In conclusion, EverFX presents a mixed bag of attributes that potential users should consider. On the positive side, the platform's regulation by the Cyprus Securities and Exchange Commission (CySEC) instills a level of confidence and credibility, offering users a regulated environment for their trading activities. The provision of multiple payment methods underscores EverFX's commitment to enhancing user convenience and flexibility, allowing traders to choose payment options that align with their preferences and needs.

Furthermore, EverFX's dedication to customer support shines through with its diverse range of assistance channels, encompassing Live chat, Email, Phone, Knowledge base, and Social media. This array of options not only ensures users' accessibility to timely support but also tailors the assistance experience to individual preferences, bolstering user satisfaction and overall trust.

However, the platform is not without its shortcomings. Its limited availability due to regulatory constraints in specific jurisdictions restricts accessibility for potential users from certain regions. Additionally, EverFX's user interface has faced criticism for its lack of user-friendliness, potentially impeding smooth navigation and detracting from the overall user experience. The absence of a demo account is another drawback, hindering new traders from adequately familiarizing themselves with the platform's functionality before engaging in live trading. While the platform offers regulatory assurance, a range of payment methods, and diverse customer support options, users should weigh these benefits against its limitations and interface challenges before making their trading decisions.

FAQs

Q: Can I trade NFTs on EverFX?

A: No, EverFX does not support NFT trading. It offers trading in forex, cryptocurrencies, commodities, indices, and stocks.

Q: Where is my money stored with EverFX?

A: Your money is stored in segregated accounts at tier-1 banks to ensure its safety and separation from the broker's funds.

Q: Which countries are restricted from using EverFX?

A: EverFX is restricted in countries like Afghanistan, Iran, North Korea, and others due to regulatory constraints.

Q: Is KYC required to use EverFX?

A: Yes, KYC verification is necessary for all users, involving personal information such as name, address, and ID number.

Q: What is the minimum deposit to open an account on EverFX?

A: The minimum deposit required to start an account with EverFX is $100.

User Review

User 1:

EverFX offers a breath of fresh air in the trading world with its solid regulatory backing from the Cyprus Securities and Exchange Commission (CySEC). This regulatory oversight imbues a sense of confidence and trust in the platform's operations, assuring users that their interests are safeguarded. The convenience factor is elevated by EverFX's diverse payment options that cater to various preferences, making transactions a breeze. What truly sets EverFX apart is its multi-pronged customer support approach, from Live chat to Email, Phone, Knowledge base, and Social media, ensuring users have their queries addressed in their preferred way. This holistic support framework aligns seamlessly with modern users' expectations, fostering convenience and quick issue resolution.

User 2:

EverFX, while promising, has its share of drawbacks. Its limited availability due to regulatory constraints is a factor to consider for potential users residing in specific jurisdictions. A major hiccup comes in the form of its user interface, which has been criticized for its lack of user-friendliness. Navigating the platform can feel like a maze, and the design lacks the intuitiveness traders often seek. Additionally, EverFX's decision to omit a demo account is a missed opportunity for novice traders. A demo account would've offered them a risk-free avenue to learn the ropes, and its absence can pose a hurdle for those who prefer hands-on learning before diving into real trading.

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.