Fondex Fees and Spreads

Fondex fees and spreads Review

 

Fondex Fees and Spreads

 

Fondex fees spreads and commissions start from $1 with spreads from 0.0 pips.

Fondex has a low and incredibly competitive spread when compared to what other brokers offer by offering a spread list which starts from 0.0 pips.

Commissions are charged from $1 per side for 100 shares and ETFs and $2.5 per side per $100k volume traded with Forex, Energies and Metals. When trading Indices and Cryptocurrencies, there are no commissions charged.

Fondex trading fees are according to the type of account that the trader chooses, in which case Fondex only provides one live account for all trading.

The spread list starts from 0.0 which is very tight when compared to other brokers who charge substantial commissions while providing spreads such as these.

Fondex does not require a minimum deposit when opening an account, which is exceedingly rare when compared to other brokers, and this places Fondex well ahead of its peers.

 

Other Fees

 

Traders should note that certain financial instruments can only be traded during a certain time of the day, especially when considering different time zones, and additional fees may be charged should they hold these positions after they have closed.

Traders should always note that Overnight fees, otherwise known as swap fees or rollover fees, may be charged for positions held open for longer than a day.

Fondex offers the option of an Islamic account to traders who are of Muslim faith and who operate under the Sharia Law. It merely requires the trader to complete a swap-free application and emailing it along with proof of faith to Fondex support for approval.

Fondex does not offer traders with spread betting and therefore spread betting fees are not applicable to this broker.

 

Broker Fees

 

Fondex does not charge any deposit fees and withdrawal fees are only involved when traders use Bank Wire Transfer and the withdrawals are less than EUR 1000, traders are then charged 0.9% on their withdrawal.

Traders should also note that when making withdrawals through Bank Wire Transfer, there is a minimum of EUR 20 that can be withdrawn.

Fondex does not waive any additional broker fees such as inactivity fees or fees pertaining to account maintenance and management.

Traders are advised to ensure that there are no fees waived by their payment provider in terms of depositing funds from their bank account to their trading account in addition to transaction costs when withdrawing funds and having it transferred to their bank account.

 

Pros and Cons

 

PROS CONS
1.      Tight and competitive spreads 1.      None noted
2.      No minimum deposit
3.      Fixed commissions on trades
4.      Low commissions when compared to other brokers

 

FAQ

 

How many instruments can I trade with Fondex?

You can trade the following financial instruments:

  • More than 80 Forex pairs
  • More than 900 Global Shares
  • Crude oil and Natural Gas
  • 15 Major Indices
  • Precious metals
  • Exchange traded funds

 

Which platforms are supported by Fondex?

Fondex provides the following popular trading platforms:

  • Fondex cTrader

 

Does Fondex offer leverage?

Yes.

Fondex offers a maximum leverage of up to 1:500 for Retail and Professional Clients

 

What spreads can I expect with Fondex?

Spreads from as little as 0.0 pips.

 

Does Fondex charge commission?

Yes.

$1 per side for 100 shares and ETFs and $2.5 per side per $100k volume traded with Forex, Energies and Metals

 

Is Fondex regulated?

Yes, Fondex is regulated by the highly reputed CySEC in Cyprus.

 

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

Yes, Fondex has a comprehensive offering catered for experts as well as beginners.

 

What is the overall rating out of 10 for Fondex?

9.5/10