Rating Index
Pros
Offers a variety of trading instruments including forex, indices, shares, CFDs, and commodities.
Provides access to popular trading platforms like MetaTrader 4 and Sirix.
Potential for high leverage options, allowing traders to operate with larger amounts than their initial deposit.
Cons
Unregulated status raises concerns about the safety and security of traders' funds.
Numerous complaints about difficulties in withdrawing funds, indicating possible issues with trustworthiness.
Negative reviews and low trust scores suggest a lack of reliability and transparency in their operations.
Codexfx broker Accounts
CodexFX Account Type
CodexFX offers five different types of trading accounts to cater to various trading needs and investment levels. The account types include:
- Mini Account
- Minimum Deposit: $500 – $5,000
- Leverage: Up to 1:50
- Spread: 1-3 pips on major currency pairs
- Commission: None
- Standard Account
- Minimum Deposit: $5,001 – $10,000
- Leverage: Up to 1:50
- Spread: 1-3 pips on major currency pairs
- Commission: None
- Gold Account
- Minimum Deposit: $500 – $5,000
- Leverage: Up to 1:50
- Spread: 1-3 pips on major currency pairs
- Commission: None
- Platinum Account
- Minimum Deposit: $10,001 – Unlimited
- Leverage: Up to 1:50
- Spread: 1-3 pips on major currency pairs
- Commission: None
- ECN Account
- Minimum Deposit: $500 – Unlimited
- Leverage: Up to 1:50
- Spread: From 0.6 pips
- Commission: $7 per standard lot
- Registration: Visit the CodexFX website and select the "Register" option.
- Choose Account Type: Select the desired account type (Mini, Standard, Gold, Platinum, or ECN) based on your investment capacity and trading preferences.
- Submit Required Documents: Provide compliance documents within 4 days of opening the account. This includes:
- Proof of identity (government-issued ID)
- Proof of address (utility bill or bank statement)
- Proof of card ownership (photo of the credit card)
- Declaration of deposit form (available on the website)
- Verification: CodexFX will verify your documents, which typically takes about an hour.
- Fund Your Account: Deposit the minimum required amount using various methods such as credit/debit cards or bank transfers.
- Start Trading: Once your account is funded, you can begin trading using the MetaTrader 4 platform.
All accounts allow for trading in micro-lots, and the maximum trade size is limited to 10 lots on all instruments.
CodexFX Broker Account Opening Process
Opening an account with CodexFX involves a straightforward process:
Make sure to complete all steps accurately to avoid delays in the account setup process.
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Codexfx accounts can be viewed for products that can be traded accounts with a minimum deposit of by (2+) .