31FX Forex Broker

31FX Review SummaryFounded Year2019Registered CountryUnited KingdomRegulationNo RegulationMarket InstrumentsForex and CFDsDemo Account✔LeverageRanges from 1:100 (Basic, Bronze) to 1:1000 (Diamond)SpreadFrom 0.1 pipsTrading PlatformsWeb and Mobile PlatformMinimum Deposit€500Customer SupportPhone: +442080898655Email: support@31fx.co31FX Information 31FX is an unregulated UK-based Forex and CFD broker. It offers all kinds of live accounts with flexible leverage ratios. The minimum deposit requires €500 and the spread is from 0.1 pips.Pros & Cons 31FX offersover 100 countries. The broker offers a variety of account types, with spreads starting at 0.1 pip and high leverage up to 1:1000 in the Diamond account. Moreover, all accounts support Expert Advisors. However, the absence of regulation raises concerns about fund security and trading fairness and it is not regulated well.ProsConsVariety of Account TypesNo RegulationCompetitive Spreads Starting at 0.1 pipHigh Deposit for Certain AccountsHigh Maximum Leverage up to 1:1000 on the Diamond AccountLack of Client Fund ProtectionSupport for Expert Advisors across All Account TypesLimited Transaction MethodsYoutube TutorialsLimited Customer Support ChannelsIs 31FX Legit? As it does not operate their business under regulatory frameworks, traders are more prone to be scammed.What Can I Trade on 31FX? 31FX trades on major currency pairs, and minor and exotic pairs. For CFD trading, 31FX allows trading in the Dow Jones, NASDAQ, and FTSE 100. They also provides Commodity CFDs, including gold, silver, oil, and natural gas.Account Type This broker offers six distinctive trading accounts:Account TypeMinimum DepositBasic€500Bronze€5,000Silver€25,000Gold€50,000Platinum€100,000Diamond€150,000Leverage 31FX provides a variety of leverage options across its account types:Account TypeMaximum LeverageBasic1:100Bronze1:100Silver1:200Gold1:400Platinum1:500Diamond1:1000Spreads & Commissions 31FX offers specific spreads and commissions for each accounts.Account TypeMinimum SpreadCommissionsBasic0.1 pips$12 per lotBronze$10 per lotSilver$6 per lotGold$2 per lotPlatinumNoneDiamondNoneTrading Platform 31FX only offers a web-based trading platform. For novices, they should register demo accounts to get familiar with their trading platform.Deposit & Withdrawal For deposit and withdrawal methods, 31FX accepts bank transfers and credit/debit cards.Customer Support 31FX provides customer support to its clients via a contact number and email. You can call the support team at +442080898655 send their queries to support@31fx.co for email support.The Bottom Line Overall, 31FX offers various tradable products with diverse account types, low spreads and high leverage. However, there are problems including its unregulated status and inaccessible website.FAQs Is 31FX regulated? No. Does 31FX offer demo accounts? Yes. Does 31FX require the minimum deposit. Yes. It requires at least €500.