EverFX provides fOUR different account types, Entry Account, Standard Account, Premium Account, and VIP Account. Each account type has its own set of conditions for commission, margin call, and leverage, and minimum deposits. (get the correct answer in the content).
Finding a reputable list about EverFX account types local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.
Below is an in-depth account types Review regarding this regulated Forex company, which will assist traders to make an informed decision when it comes to the various Forex trading accounts made available.
EverFX is an international online broker, providing access to over 130 tradable instruments from 6 asset classes for both retail and institutional investors.
The broker operates successfully around the globe and places great emphasis on providing professional and reliable services to all its clients.
As such, the broker’s success is built on diversity, flexibility, transparency, and open, reasonable pricing structures.
The company aims to create long-lasting relationships with its clients and to empower them with the necessary tools, knowledge, and support to enjoy and excel in their trading endeavors.
EverFX Global offers the popular MetaTrader 4 and MetaTrader 5 platforms, in addition to a web-based alternative.
EverFX is a trading name of ICC Intercertus Capital Ltd and is regulated by the Cyprus Securities and Exchange Commission, the Cayman Islands Monetary Authority (CIMA), and the Seychelles Financial Services Authority (FSA).
The broker adheres to the regulation and licensing standards required by the industry and clients should feel reassured that EverFX is a secure option.
EverFX offers several different accounts tailored to specific trading needs. These include the Entry Account, Standard Account, Premium Account, and the VIP Account. The broker also offers a swap-free Islamic account and a demo account.
- Entry – $250 minimum deposit, spreads start at 1.5 pips, 1:500 leverage, up to a 30% bonus, intro call from an account manager
- Standard – $2,500 minimum deposit, spreads start at 1.2 pips, 1:500 leverage, up to a 50% deposit, account manager, market research and analytics from Trading Central
- Premium – $10,000 minimum deposit, spreads start at 0.8 pips, 1:400 leverage, account manager, up to a 100% bonus, market research and analytics from Trading Central, a monthly session with senior market analyst
- VIP – $50,000 minimum deposit, zero pip spreads, $2-$6 commission per lot, 1:200 leverage, up to a 100% bonus, personal account manager, market research and analytics from Trading Central, a weekly session with a senior market analyst, exclusive strategies, and development of a business plan.
Clients can log in to their EverFX global account via the ‘sign in’ tab located in the top right of the broker’s homepage.
For more information regarding account structure or how to delete a trading account, clients should contact a member of the customer support team.
To open a demo account with EverFX, traders first must sign up for a real account. This is unfortunate, as it bypasses one of the most useful features of a demo account, which is to first assess the broker’s features.
The demo account from EverFX will give traders access to the full suite of MetaTrader features. As such, these include the following:
- 3 execution modes
- 2 market orders
- 4 pending orders
- 2 stop orders and a trailing stop
- Interactive charts
- 9 timeframes
- 23 analytical objects
- 30 technical indicators
- The widest selection of trading applications in the world
- 1 700+ trading robots and 2 100+ technical indicators
free and commercial products
The powerful MetaTrader 4 trading system allows you to implement strategies of any complexity. The Market and pending orders, Instant Execution and trading from a chart stop orders and trailing stop, a tick chart and trading history — all these tools are at your disposal.
Analytical functions are one of the MetaTrader 4 platform’s strongest points. Online quotes and interactive charts with 9 periods allow you to examine quotes in all the details quickly responding to any price changes.
23 analytical objects and 30 built-in technical indicators greatly simplify this task. However, they are only the beginning.
The free CodeBase and built-in Market provide thousands of additional indicators rising the number of analytical options up to the sky. If there is a movement in the market, you have the analytical tools to detect it and react promptly.
To open an Islamic account, traders must contact the broker’s support team by live chat, email, or call-back. The broker has helpful representatives available 24/7 via Live Chat, E-mail and Telephone.
The Islamic Account bears the same cost structure as that of the live account for which the swap-free version has been created.
As such, for Entry accounts, spreads start at 1.5 pips, for Standard account holders, spreads begin at 1.2 pips, for Premium account holders spreads begin at 0.8 pips, and zero-pip spreads are available with the VIP account.
The commission is payable for VIP account holders and it ranges from $2 to $6 per lot depending on your jurisdiction.
The purpose of an Islamic Account is that it caters specifically for Muslim traders who strictly follow Sharia law. The law prevents its followers from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitive.
Overnight fees are charged should traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should they hold positions open for longer.
Pros and Cons
|Competitive spreads also available on the Islamic account||Islamic Account can only be opened on request|
|No added fees on the Islamic Account|
You might also like: EverFX Sign Up Bonus
You might also like: EverFX Demo Account
You might also like: EverFX Fees and Spreads
You might also like: EverFX Minimum Deposit
You might also like: EverFX Islamic Account
EverFX at a Glance
|Countries not accepted for trade||United States, Belgium, Iran, Canada, Korea|
|Islamic Account (Swap Free)||Yes|
|Deposit Options||· Credit/Debit card – Visa Mastercard
· E-wallets – Skrill, Neteller, Alipay, QIWI
· Online bank transfer
|Withdrawal Options||· Credit/Debit card – Visa Mastercard
· E-wallets – Skrill, Neteller, Alipay, QIWI
· Online bank transfer
|Platform Types||MetaTrader 4, MetaTrader 5|
|OS Compatibility||Windows, Mobile, Web, iPhone, iPad
PC and Mac OS, mobile for Android and IOS
|Tradable Assets||Forex, Shares, Commodities, Cryptocurrencies|
|Languages supported on Website||English Italian, Spanish, German, Russian, Polish, French|
|Customer Support Languages||English Italian, Spanish, German, Russian, Polish, French|
|Customer Service Hours||24/7|
How many instruments can I trade with EverFX?
At EverFX, clients can trade 130 financial assets:
- Forex – Trade popular forex pairs, including the EURUSD, GBPUSD and USDJPY
- Stocks – From Amazon to Facebook and Apple, shares in household names are available
- Indices – Trade on world-leading indices, such as the Dow Jones, Nikkei 225 and Euro Stoxx 50
- Metals – Gold, Aluminium and Copper offer an interesting alternative to forex and stock trading
- Commodities – Trade futures on commodities such as coffee, cotton and wheat
- Cryptocurrency – Trade 15 of the biggest brands including Bitcoin, Ethereum and Ripple.
Which platforms are supported by EverFX?
MetaTrader 4, MetaTrader 5.
Does EverFX offer leverage?
Yes. Entry and Standard account holders can utilise leverage up to 1:500, Premium account holders up to 1:400 and VIP accounts, up to 1:200.
What spreads can I expect with EverFX?
For Entry accounts, spreads start at 1.5 pips, for Standard account holders, spreads begin at 1.2 pips, for Premium account holders’ spreads begin at 0.8 pips, and zero-pip spreads are available with the VIP account.
Does EverFX charge commission?
Yes, EverFX does charge commissions. The commission is payable for VIP account holders and it ranges from $2 to $6 per lot depending on your authority.
Are there additional charges on the Islamic account?
Is EverFX regulated?
Yes, EverFX is regulated by Cypress Securities and Exchange Commission (CySEC).
Is EverFX a recommended forex trading broker for experts and beginners?
Yes. EverFX caters for both beginners and experts.
What is the overall rating out of 10 for EverFX?
What is the difference between a demo and a live trading account?
A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring both the broker’s offer and the trading platform.
A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.
Does EverFX offer a demo account?
For how long is the demo account valid?
The demo account from EverFX does not expire.
Does EverFX offer the option of an Islamic Account?
Which live trading accounts does EverFX offer?
Entry Account, Standard Account, Premium Account, and the VIP Account.
What are the available deposit currencies for a live trading account?
Deposit currencies consist of EUR, USD, GBP, AUD, and PHP. Traders depositing in other currencies, such as ZAR (Rand), will likely incur conversion fees.
Deposits and Withdrawals
What is the minimum deposit for EverFX?
EverFX has a minimum deposit amount of $250, which is normal for most Forex brokers in the industry.
How do I make a deposit and withdrawal from EverFX?
EverFX has a limited number of deposit methods, particularly when compared to many other brokers in the industry. These methods consist of the following:
- Credit/Debit card – Visa Mastercard
- E-wallets – Skrill, Neteller, Alipay, QIWI
- Online bank transfer
Does EverFX charge withdrawal fees?
Yes, and these depend on the withdrawal method and the amount you wish to withdraw.
How long does it take to make a withdrawal?
Withdrawals from EverFX are usually processed in one business day and to make a withdrawal, clients need to fill out a request form.