Regulated

Score

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/10

Fondex

Seychelles

|

2-5 years

Investment Advisory License|

High potential risk

https://fondex.com/en

Website

Rating Index
Contact
Fondex
+2484671987
support@fondex.com.sc
https://fondex.com/en
Influence
E

Licenses

CYSEC

CYSECRegulated

Investment Advisory License

WikiBit Risk Alerts

1
Previous Detection 2024-07-25

The number of this Exchange's nagitive field survey reviews has reached 1, please be aware of the risk and the potential scam!

Website

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Time Machine

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New Arrival

Company Name
Fondex
Regulatory Status
Regulated
Company Abbreviation
Fondex
Platform registered country and region
Seychelles
Phone of the company
+2484671987

User Reviews

More

3 ratings

Participate in evaluation
Jenny Chen
Fondex is the best cryptocurrency platform I have ever used! Its transaction fees are low, allowing me to buy and sell more cheaply. Moreover, its software security protection is also quite good, which greatly enhances my confidence in this platform.
2023-10-29 05:16
9
Verified Trader
Fondex offers a range of financial instruments for trading, including forex, stocks, indices, commodities, and cryptocurrencies.
2023-04-14 17:52
0
Verified Trader
Fondex is a CFD and forex trading platform that allows traders to access a wide range of financial instruments. Founded in 2017, the company is headquartered in Limassol, Cyprus, and is regulated by the Cyprus Securities and Exchange Commission (CySEC).
2023-04-14 17:52
0
Aspect Information
Company Name Fondex
Registered Country/Area United Kingdom
Founded Year 2017
Regulatory Authority Regulated by CySEC
Numbers of Cryptocurrencies Available 50+
Fees Variable fees based on trading volume and instrument
Payment Methods Bank wire transfer, credit/debit cards, e-wallets
Customer Support Email, phone, live chat

Overview of Fondex

Fondex is a UK-based recognized online CFD and Forex broker, founded in 2017. A popular hub for financial services in the European region. Fondex offers a wide range of products, including over 1,000 instruments spanning Forex, commodities, stocks, indices, and cryptocurrencies. One of its standout features is the Fondex cTrader platform, which provides traders with advanced charting tools, automated trading options, and a user-friendly interface. Importantly, Fondex operates under the strict regulation of the Cyprus Securities and Exchange Commission (CySEC), ensuring a high level of security and transparency for its clients. Investors considering Fondex should also note its commitment to providing educational resources and its competitive fee structure.

Overview

Pros and cons

Pros Cons
Wide range of over 50 cryptocurrencies available for trading Fees are variable and depend on trading volume and specific instrument
Regulated by Cyprus Fees may be higher for smaller trading volumes
Accepts multiple payment methods including bank wire transfer, credit/debit cards, and e-wallets No information provided about security measures
Offers customer support through email, phone, and live chat No information provided about user interface or platform features

Pros:

1. Wide range of over 50 cryptocurrencies available for trading: Fondex offers a diverse selection of cryptocurrencies, providing investors with multiple options to choose from.

2. Regulated by Cyptus: As a regulated virtual currency exchange, Fondex operates under the oversight of the Cyptus, ensuring compliance with industry standards and regulations.

3. Accepts multiple payment methods including bank wire transfer, credit/debit cards, and e-wallets: Fondex provides convenience and flexibility by accepting various payment methods, making it easier for users to deposit and withdraw funds.

4. Offers customer support through email, phone, and live chat: Fondex prioritizes customer satisfaction by offering multiple channels of communication for users to seek assistance and resolve any issues they may encounter.

Cons:

1. Fees are variable and depend on trading volume and specific instrument: The fees charged by Fondex can vary based on factors such as trading volume and the specific instrument being traded, potentially leading to higher costs for certain transactions.

2. Fees may be higher for smaller trading volumes: Users with smaller trading volumes may experience relatively higher fees compared to those with larger trading volumes, potentially impacting their overall trading costs.

3. No information provided about security measures: It is unclear from the available information what security measures Fondex has implemented to protect user funds and sensitive information.

4. No information provided about user interface or platform features: The article does not provide any details regarding the user interface or specific features of the Fondex platform, leaving users unaware of the platform's functionalities and user experience.

Regulatory Authority

The regulatory situation of the exchange is as follows:

Regulatory Agency Cyprus Securities and Exchange Commission (CYSEC)
Regulation Number 138/11
Regulation Status Regulated
License Type Investment Advisory License
License Name Topfx Ltd
Regulation

Security

Fondex prioritizes the security of its platform by implementing several protection measures, including:

  • Cold Storage: Fondex uses cold storage to protect all client funds, ensuring that a significant portion of the funds are stored offline, away from potential online threats.

  • No Fiat Conversion Fees: For BTC accounts, Fondex ensures there are no fiat conversion fees, which can be seen as a measure to reduce unnecessary transactions and potential points of vulnerability.

  • Lightning-Fast Deposits & Withdrawals: Quick transaction processing can be seen as a security measure as it reduces the window of time during which funds are in transit and potentially vulnerable.

  • Cryptocurrencies Available

    Fondex offers over 50 cryptocurrencies for trading on its platform. These cryptocurrencies include popular options such as Bitcoin, Ethereum, and Ripple. In addition to cryptocurrency trading, Fondex may also provide other products and services, such as forex trading or commodity trading.

    Cryptocurrencies Available

    How to open an account?

    The registration process for Bitget SG can be broken down into the following steps:

    • Visit the Fondex website and click on the “Sign Up” button.

    • Provide your personal information:

      • Full name

      • Email address

      • Phone number

      • Choose a username and password for your Fondex account.

      • Submit the required identification documents and proof of address.

      • Review and agree to the terms and conditions of Fondex.

      • Fees

        Fondex operates on the cTrader platform and offers spreads starting from 0.5 pips. Commissions are set at USD 1 per side for 100 shares and ETFs, and USD 2.5 per side per USD 100k volume for Forex, Energies, and Metals. Indices and Cryptocurrencies trading come with zero commissions..

        Feature Information
        Spreads Start from 0.5 pips
        Commissions USD 1 per side for 100 shares and ETFs; USD 2.5 per side per USD 100k volume traded for Forex, Energies, and Metals. No commissions for Indices and Cryptocurrencies.

        Payment Methods

        Fondex charges no fees for depositing EUR via SEPA. It also charges no fees for depositing cryptocurrencies. However, it charges a 0.9% fee for withdrawing EUR less than EUR 1000 via SEPA. There are no fees for withdrawing cryptocurrencies.

        Deposit :

        Method Currencies Fees Processing Time
        SEPA EUR 0% 1-3 business days
        Cryptocurrencies (BTC, ETH, LTC, BCH, USDT) BTC, ETH, LTC, BCH, USDT 0% 5 min
        BTC BTC 0% Instant

        Withdrawal :

        Method Currencies Fees Processing Time
        SEPA EUR 0% for withdrawals over EUR 1000 0.9% for withdrawals less than EUR 1000 1-3 business days
        Cryptocurrencies (BTC, ETH, LTC, BCH, USDT) BTC, ETH, LTC, BCH, USDT 0% within 24 hours
        BTC BTC 0% within 24 hours

        Payment Methods

        Educational Resources

        Fondex offers a series of articles that cover various aspects of trading. These articles touch upon topics ranging from understanding specific trading tools to insights into the Fondex cTrader platform.

        • Link to Educational News

        Is Fondex a Good Exchange for You?

        Here are some trading groups that may find Fondex suitable:

        • Experienced traders: Fondex offers a wide selection of cryptocurrencies and variable fees, making it a good fit for experienced traders who want to trade a variety of coins and optimize their costs.

        • Active traders: Fondex's variable fees may also be attractive to active traders who frequently trade.

        • Investors seeking regulation: Fondex is regulated by the Cyprus, which may appeal to investors who prioritize regulation.

        • Traders seeking multiple payment options: Fondex accepts a variety of payment methods, which can be appealing to traders who want flexibility in managing their funds.

        • Traders requiring customer support: Fondex offers customer support through multiple channels, which can be beneficial for traders who need assistance.

        Conclusion

        Fondex is a virtual currency exchange regulated by the Cyprus in the United Kingdom. It offers a wide range of over 50 cryptocurrencies for trading and accepts multiple payment methods. Fondex's fees are variable and depend on trading volume and specific instruments.

        FAQs

        • Q: How can I start trading with a live account?

          A: To start trading with a live account, you'll need to complete the registration process, provide necessary documentation, and fund your account.

        • Q: What account types does Fondex offer?

          A: Fondex offers various account types tailored to different trading needs and preferences.

        • Q: Is there a minimum deposit requirement?

          A: Yes, Fondex has a minimum deposit requirement, which varies depending on the payment method and account type.

        • Q: How do I read a currency quote?

          A: A currency quote represents the exchange rate between two currencies, indicating how much one currency is worth in terms of the other.

        • User Review

          User 1:

          I've been using Fondex crypto exchange for a few months now, and I have to say, I'm impressed. The security measures they have in place give me peace of mind knowing that my funds and personal information are protected. The fact that they are regulated by the FCA also adds an extra layer of trust. The interface is clean and user-friendly, making it easy to navigate and execute trades. The liquidity is great, with a wide range of cryptocurrencies available for trading. The customer support is also top-notch, with responsive agents who are always available to help. The trading fees are reasonable, although they can vary based on trading volume. Overall, Fondex is a reliable and trustworthy exchange.

          User 2:

          While Fondex crypto exchange has its strengths, there are a few aspects that could be improved. Firstly, I appreciate the security measures they have in place, but I would like more transparency about their privacy and data protection practices. It would be reassuring to know how my personal information is being handled. Secondly, the deposit and withdrawal speed can sometimes be slow, which can be frustrating, especially when you want to take advantage of market opportunities quickly. Lastly, I wish there were more order types available on the platform. While the basic order types are sufficient for most traders, having more advanced options would be beneficial for those who engage in complex trading strategies. Despite these areas for improvement, Fondex still offers a reliable and user-friendly experience overall.

          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.