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EVFX Review

EVFX Review


EVFX is a British forex broker company that is based in London. EVFX is a brokerage firm established in 2011, that gives access to not only the Foreign Exchange Spot but also provides Forwards and Options markets by using electronic and voice technology.


EVFX at a glance

Broker's NameEVFX
📍 HeadquarteredLondon, UK
📅 Year Founded2011
⚖️ Regulating AuthoritiesFCA
🌐 Countries not accepted for tradeUnited States, Belgium
☪️ Islamic account (swap-free)No
👍 Demo AccountYes
📊 Institutional AccountsYes
📊 Managed AccountsYes
📈 Maximum Leverage1: 30
💰 Minimum Deposit$500
💳 Deposit OptionsDebit and Credit Cards, Skrill, Bank Wire
💳 Withdrawal OptionsDebit and Credit Cards, Skrill, Bank Wire
💻 Platform TypesMT4 (ECN), MT4, Currenex, CQG, FIX
📈 Tradable assets offeredMac, Windows, Web, Mobile Android, iPhone, iPad
📱 OS CompatibilityForex, Commodities, FX, CFDs, Indices - FX in about 90 pairs, Commodities in around 20 and 12 Stock Indices.
👨‍💼 Languages supported on WebsiteEnglish
👥 Customer Support LanguagesEnglish
📆 Customer Service Hours24/5


Overall Rating


Rated #21 of
Recommended FX Brokers

💰Minimum Deposit

USD 500

🌐 Regulators

📱 Trading Desk
No Trading Desk
📈 Total Pairs

☪️ Islamic Account


📊 Trading Fees


🕒 Account Activation Time

24 Hours

🏛️ Visit Broker


EVFX Review – 17 key points quick overview:

  1. ✔️EVFX Awards and Recognition
  2. ✔️EVFX Accounts
  3. ✔️Types of Accounts and Their Features
  4. EVFX Deposits and Withdrawals
  5. EVFX Cost and Fees, Commissions and Spreads
  6. How to open an account
  7. EVFX Leverage
  8. EVFX Bonuses
  9. Trading Platforms, Software, and its Features
  10. Markets, Products, and Instruments
  11. Safety and Regulation
  12. Customer Support
  13. Research
  14. Education and Training
  15. Conclusion
  16. Disclaimer
  17. FAQ’s


Forex brokers are companies that provide traders with access to platforms that allow them to buy and sell foreign currencies.


Forex brokers are also known as retail forex brokers or currency trading brokers. Retail currency traders in turn use these brokers to gain access to the 24-hour currency market for speculation purposes.


Forex broker services are also provided for institutional clients and large companies such as investment banks.


EVFX offers access to the FX markets and various amount of major electronic venues in its solutions offering. It also offers direct access to the best market liquidity which continues to be unrivaled by other brokers of its kind.


EVFX successfully established agency voice desks and offers a vast selection of spot and options platforms. Trading markets that it caters to include spot FX, Precious Metals, Forwards, NDFs, Futures and Equity exchanges, and CFDs.


EVFX operates through the delivery of advanced software offerings, going hand in hand with the range of markets and a wide range of solutions that can be used relating to the execution of orders and in which trades can be performed.



EVFX Awards and Recognition

There is no indication on EVFX’s website that it has received any awards.


EVFX Accounts

EVFX overview


A forex account is a trading account held by a trader with a company like EVFX that is primarily issued with the purpose of trading currencies.


Usually, the number and type of accounts that a trader can open with a broker company differ according to the country in which the brokerage operates, the country of residence of the trader, and the regulatory authorities under whose jurisdiction it operates.=


Types of Accounts and Their Features

evfx account types


EVFX offers traders the choice between three different types of accounts, namely a Personal, Corporate, and Introducer account.


There is hardly any information on the website relating to each account and you can only access the necessary forms if you are a registered user.


The lack of information relating to the accounts on the website can make it very difficult for a trader to see which account will be better suited to their needs.


What can be obtained from the website is that should a trader meet the following requirements, you can qualify to be treated as a professional:

➡️️​ Having carried out transactions of significant size (over US Dollar 100k).

➡️️​ Transactions of significant amount carried out on certain markets at an average frequency of 10 trades per courter over the last four quarters.

➡️️​ Should the size of the trader’s financial instrument portfolio which includes cash deposits along with financial instruments exceed € 500 000.

➡️️​ Should the trader have been employed, or whether they are employed, in a financial sector for at least a year and they have held a professional position with the requirement of having knowledge of transactions and services envisaged.


Overall Rating


Rated #21 of
Recommended FX Brokers

💰Minimum Deposit

USD 500

🌐 Regulators

📱 Trading Desk
No Trading Desk
📈 Total Pairs

☪️ Islamic Account


📊 Trading Fees


🕒 Account Activation Time

24 Hours

🏛️ Visit Broker


EVFX Deposits and Withdrawals



EVFX does not offer a variety of payment methods with which to deposit funds into the trading account. Account funding can only be done through Bank Wire along with Visa or Skrill payments.


These methods are not only the most used but have proven to be the most secure and convenient payment solutions that cater for transfers of any size.


EVFX does not have additional charges on either deposits or withdrawals, but it is always sensible to consult with the payment provider in case they have their own set fees on transactions.


EVFX Cost and Fees, Commissions and Spreads

evfx fees and spreads


Cost of trading depends on different factors like commissions, spread and margins.


The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move. One pip is 0.01 for currency pairs with JPY as the term currency and 0.0001 for all other pairs.


Margin is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your trading account.


Commissions are the charges imposed by an investment broker on a trader for making trades on the trader’s behalf. The level of commissions will vary between different brokers and depends on the asset being traded and the type of service offered by the broker.


Execution-only brokers, that is a broker that does not involve in any personal investment advice and gives traders complete control over how they trade the markets, tend to have lower commissions.


Contract for differences (CFDs) trading, a popular form of derivative trading that enables traders to speculate on the rising or falling prices of fast-moving global financial markets, will incur commission on shares.


CFD trades on other markets have no commission but do wrap a spread around the market price of a certain instrument.


EVFX offers a tight spread along with the applicable commission, which is defined according to each marketing instrument.


However, traders have the option of choosing between a fixed or a variable spread according to the strategy that the trader chooses to use.


There is a traded value on CFDs which is financed through a charge that occurs overnight on either a credit or debit card. Should a position open and then close during the same trading day, there will not be overnight financing made available.


There are also financing costs that refer to Indices CFDs and the swap rates are calculated by the instrument, the EOD rate and the Short and Long.


Along with the overnight financing cost to open positions, the dividend payments made by EVFX will be applied as debit or credit (short or long).


There may be adjustments applicable on the date of the ex-dividend along with the constituent members of the index of relevance.


The minimum deposit that EVFX requires depends on the type of account that is opened is set to US Dollar 500 and this also includes the trading conditions and EVFX’s customer service.


How to open an account

Step 1 – Open the EVFX Website

Open up the official EVFX website.

open a evfx account step 1


Step 2 – locate the “open account” tab

locate the “open account” tab on the top right of the menu and click on it.

open a evfx account step 2


Step 3 – Choose your account type

Choose between the given account types and fill in the details required for each account

open a evfx account step 3


Step 4 – your account is ready!


EVFX Leverage

The facility that enables a trader to get a much larger exposure to the market than the amount he or she deposited to open a trade, is called leverage. Such leveraged products magnify a trader’s potential profit – but of course, also increase the potential loss.


The amount of leverage is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that a trader has US Dollar 1,000 in his or her trading account and is trading ticket sizes of 500,000 USD/JPY, that leverage will equate 500:1.


EVFX is, under ESMA regulations, eligible to offer a maximum leverage of 1:30, although professional traders who have confirmed their status may apply for higher levels.


The account offering will determine the leverage levels and in turn, this may cause a difference in the margins as well.


EVFX Bonuses

Forex brokers tend to lure new traders with offers of attractive deposit bonuses. This can be useful, but it is essential to discern what a proper bonus is.


Such a bonus is but a way to compensate traders for choosing a certain broker, since once the account is opened, the trader will have the same expenses as any other.


The bonus is just a reward for the trader’s choice that gives some of these expenses back to the trader, once proving himself as an active trader.


Moreover, since 1 August 2018 The European Securities and Markets Authority (ESMA) has placed investor protection measures on the marketing, distribution, or sale of CFDs to retail clients.


These prevent brokers from directly or indirectly provide the retail client with a payment, monetary or excluded non-monetary benefit in relation to the marketing, distribution, or sale of a CFD, other than the realized profits on any CFD provided.


This means that a Deposit Bonus is not currently applicable for retail clients.


It is not clear on EVFX’s website whether it offers bonusses to its clients or not.


Trading Platforms, Software, and its Features

The forex trading software provided by a broker company to its clients is called the platform and is used to carry out their trades.


A platform can be a multi-asset one, which means that it allows clients to not only trade forex but also other asset classes like CFDs on stocks, stock indices, precious metals, and cryptocurrencies.


The decision about which platform to choose will depend on what a client would like to trade, therefore it will be one of the criteria when choosing a broker too.


EVFX provides a broad range of trading platforms that are centralized in one back office to which transactions are reported despite the platform.


The trading platforms offered by EVFX cater for Spot, Forwards, Options and Ndfs and on all of these, APIs are made available.


EVFX offers the following trading platforms:

➡️️​ Currenex

➡️️​ FastMatch

➡️️​ Integral

➡️️​ FXall

➡️️​ Digitalvega

➡️️​ hotspotFX

➡️️​ solidFX


➡️️​ FXONE

➡️️​ API Trading


However, should traders prefer to trade Futures and Equities, EVFX offers a range of platforms that cater specifically for this, such as:

➡️️​ Fidessa

➡️️​ Trading Technologies

➡️️​ CQG

➡️️​ Bloomberg

➡️️​ Thomson Reuters, and

➡️️​ Ice


The broker also provides a voice desk for traders who would like to have an opportunity to conduct their trading through Voice Trading. Choosing this option, traders can execute various transactions that differ both insignificant size and sensitivities.


Neither Agency and Margin facilities nor Exotic currencies or options strategies are liquid or supported electronically, but through EVFX’s EVE, they are all available for potential benefit.


Markets, Products, and Instruments

Most brokers offer all or some of the following kinds of market instruments for trading:



Forex trading, also called currency or FX trading, involves the currency exchange market where individuals, companies and financial institutions exchange currencies for one another at floating rates.



As with currency exchange markets, commodity markets offer different investment opportunities for traders. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of inflation or economic uncertainty.



Equity or stock indices are actual stock market indexes that measure the value of a specific section of a stock market. They can represent a specific set of the largest companies of a nation or they can represent a specific stock market.


Precious metals

The trading of gold and other precious metals involves hard commodities that are contract-based tradable goods.



The high volatility of energy prices due to political and environmental factors, supply and demand, extreme weather conditions, and global economic growth is a typical feature of this product, making it another popular trading choice.


EVFX offers trade in the following market instruments:

➡️️​ Forex

➡️️​ Commodities

➡️️​ FX and Commodity Rollovers

➡️️​ CFDs

➡️️​ Indices CFD Financing Cost


Safety and Regulation

One of the first things a potential trader needs to establish, is whether a broker like EVFX is safe to trade with. One of the surest benchmarks to measure the safety of a brokerage is to establish which regulating authorities are watchdogs over its actions.


EVFX is regulated and authorized by the Financial Conduct Authority (FCA), as it is a UK-based company. The FCA is one of the world’s strictest and most respected authorities that oversees financial companies in the UK.


The performing and delivering of services by EVFX stand in full compliance with the regulations and laws which have been set out by the FCA.


EVFX’s Electronic and Voice Exchange Limit (EVE) has also been registered and authorized by the FCA.


Client funds are kept in segregated accounts, which means that EVFX is not allowed to use client funds for any operational purposes.


According to the set of rules that FCA has set out, there should be capital established which is of significant adequacy and this should always be maintained.


In addition to adequate capital, the necessary operational standards along with the highest level of protection of investors should be established and maintained.


This is confirmed by the regulatory status and EVFX clients are also covered by the FSCS (UK) in such a case that the company is declared insolvent.


Customer Supportevfx contact us


Potential traders need to be assured that the broker company they chose can offer the necessary support and help whenever they may need it.


EVFX offers customer support via telephone or email. There is also an online form for general enquiries which can be completed. It does not have a live chat function.



Potential traders should always do as much as possible research about speculative trading before commencing to do it.


Trading with confidence and success relies heavily on knowledge and understanding of the markets, therefore research options offered by brokers form an integral part of its features when choosing the right company to trade with.


EVFX does not provide any research tools on the website to help traders in keeping up to date with market movements, spreads, live indications, or any other indication of the market standings.


There are also no reports or tools for analysis like that of an economic calendar.


Education and Training

Before starting to trade, potential clients of EVFX should avail themselves of all possible information and trading skills needed to be successful in the world of forex and commodity trading.


If EVFX’s website itself does not provide enough means, a trader should explore other informative websites and means to obtain that knowledge.


EVFX does not provide any educational tools on its website that will help beginner traders who want to learn about the trading industry.



EVFX provides numerous trading instruments and platforms that can cater for any individual broker.


The lack of educational tools points towards the fact that this broker is more suited for professional traders who already possess experience, knowledge, and skills in trading.


You might also like: EVFX Minimum Deposit

You might also like: EVFX Fees and Spreads

You might also like: EVFX Demo Account

You might also like: EVFX Sign Up Bonus



EVFX publishes information in good faith and believes in the accuracy of such information at the time of publication.


Traders who trade financial instruments are solely responsible for any loss or damage. EVFX cannot be held liable for such loss or damage under any circumstances. Trading involves high levels of risks that may not be suited to all traders.


Traders need to consider their financial situation, objectives, and their willingness to take risks before making decisions based on the products and information provided by EVFX.


Through using the information and products provided by EVFX to make decisions towards investment, the trader carries the sole responsibility for any losses incurred.


Traders are permitted to seek professional third-party advice at any time before making such decisions.


Overall Rating


Rated #21 of
Recommended FX Brokers

💰Minimum Deposit

USD 500

🌐 Regulators

📱 Trading Desk
No Trading Desk
📈 Total Pairs

☪️ Islamic Account


📊 Trading Fees


🕒 Account Activation Time

24 Hours

🏛️ Visit Broker




Trading Environment


How many instruments can I trade with EVFX?

You can trade with many different instruments with EVFX, which include the following:

  • Forex
  • Commodities
  • FX and Commodity Rollovers
  • CFDs
  • Indices CFD Financing Cost


Which platforms are supported by EVFX?

EVFX provides the following popular trading platforms:

  • Currenex
  • FastMatch
  • Integral
  • FXall
  • Digitalvega
  • hotspotFX
  • solidFX
  • API Trading
  • Fidessa
  • Trading Technologies
  • CQG
  • Bloomberg
  • Thomson Reuters, and
  • Ice


Does EVFX offer leverage?


EVFX under ESMA regulations offer a maximum leverage of 1:30.


What spreads can I expect with EVFX?

EVFX offers a tight spread along with the applicable commission, which is defined according to each marketing instrument.


Does EVFX charge commission?

Yes, it is defined according to each marketing instrument.


Is EVFX regulated?

Yes, EVFX is regulated by the highly reputed FCA in the UK.


Is EVFX a recommended forex trading broker for experts and beginners?

It is not clear whether it would be suitable for beginner traders as it does not offer any educational tool and with the high deposit of US Dollar 500 beginner traders would most probably prefer to try another broker.


What is the overall rating out of 10 for EVFX?





What is the difference between a demo and a live trading account?

A demo account is an account offered by some trading platforms, which is funded with virtual money.

This allows a potential client to experiment with the trading platform and get familiar with its various features, before deciding to set up a real account.

These accounts are offered by various online trading platforms, including stock trading platforms, foreign exchange trading venues, and commodities exchanges.

Demo accounts are also widely used by more experienced traders who want to experiment with other asset classes. For instance, a trader might be experienced in stock trading but want to start investing in futures, commodities, or currencies.

Opening a demo account is a good option before opening a live account where you trade with real money in real-time.


Does EVFX offer a demo account?



Can I convert my demo account to a live trading account with X?

Not clear


Which live trading accounts does EVFX offer?

  • Personal
  • Corporate
  • Introducer account.


What are the available deposit currencies for a live trading account?

It is not clear on the website which currencies are available to trade with.


Deposits and Withdrawals


What is the minimum deposit for EVFX?

US Dollar 500


How do I make a deposit and withdrawal with EVFX?

EVFX offers the following popular deposit and withdrawal methods:

  • Visa
  • Skrill
  • Bank Wire


Does EVFX charge withdrawal fees?

No: fees from financial institution may apply


How long does it take to make a withdrawal?

There is no information on the website on how long it takes to make a withdrawal.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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