EFI Markets Forex Broker

EFI MARKETS Review SummaryFounded2021Registered Country/RegionMauritiusRegulationNo regulationMarket InstrumentsForex, Commodities, Stocks, ETFs, BondsDemo Account✅SpreadFrom 1.2 pips (Standard account)Leverage❌Minimum Deposit1 EUR, 1 USD, 1 GBP, 1 CHF, 2 BGN, 25 CZK, 8 HRK, 350 HUF, 5 PLN, 5 RONTrading PlatformEFIMARKETSCustomer SupportSocial media: Facebook, Twitter, LinkedIn, Instagram, TelegramAddress: Suite 201 Level 2, The Catalyst Building, Cybercity Ebene, Republic of Mauritius;Hinterbergstrasse 49, 6312 Steinhausen, SwitzerlandEmail: support@efimarkets.comLive chat, contact formEFI MARKETS Information EFI MARKETS, is the trading name of Lincoln Classic Ltd registered in Mauritius and SWISS DIGITAL WEALTH AG registered in Switzerland. Its domain was started in 2021 and the company offers trading services in forex, commodities, stocks, bonds and ETDs. It uses segregated accounts to protect investor funds and only requires a low minimum deposit of 1 EUR/USD/GBP or less equivalent. You can execute trades on an APP named “EFIMARKETS”, and practicing with a demo account is available before commiting actual trading. However, one fact that is worth noting is that the broker currently operates without any valid regulation from any authority bodies, imparing its credibility and legality.Pros and ConsProsConsDemo accountsNo regulationAffordable minimum depositOnly one free withdrawal each monthFund segregationTight starting spreadsIs EFI MARKETS Legit? The broker operates without any valid supervision from any regulatory authorities. It raises a question about its legitimacy and credibility because regulated brokers usually adhere to strict industry standards to protect customer funds.What Can I Trade on EFI MARKETS? EFI MARKETS boast more than 8000 trading products, mainly in 5 asset classes. Forex: Forex, or foreign exchange, is the global marketplace for trading national currencies against one another, facilitating international trade and investment. There are more than 47 currency pairs with EFI MARKETS. Commodities: Commodities are basic goods used in commerce that are interchangeable with other goods of the same type, such as precious metals as well as energy and agricultural products. Stocks: Shares represent ownership stakes in large companies such as Apple, Tesla etc., allowing investors to participate in their profits and losses. EFI MARKETS enables trading in 3000+ shares. Bond: A bond is a debt security issued by governments or corporations to raise capital, paying interest over a fixed period until maturity. EFI MARKETS mainly supports German bonds and US treasuries. ETF: An ETF (Exchange-Traded Fund) is an investment fund that trades on stock exchanges, you can trade over 380 ETFs with the broker. When dealing with investment activities, always adhere to the principle of diversification by allocating funds across various products rather than a single one you feel optimistic about.Tradable InstrumentsSupportedForex✔Commodities✔Indices❌Cryptocurrencies❌Shares✔ETFs✔Bonds✔Mutual Funds❌Account Type/Spreads & Commissions EFI MARKETS provides a demo account for new strategic practicing and testing and allows beginners to famliarize themselves with the platform. A live account with a minimum deposit of 1 EUR, 1 USD, 1 GBP, 1 CHF, 2 BGN, 25 CZK, 8 HRK, 350 HUF, 5 PLN, 5 RON is also available. Spread is tight from 0 pips and commission is from 0.02 USD per share for stocks and ETFs.Leverage Leverage, a trading tool that enables you to control larger positions with smaller capital, should always be used cautiously, with risk management indispensable for every investors. However, EFI MARKETS does not use leverage in trading.Trading Platform EFI MARKETS offers a proprietary trading platform naming at “EFIMARKETS”, with an app downloadable from both iOS and Android phones, allowing you to trade on the go. The platform boasts access to a wide range of market offerings for users to easily track and edit trades, manage risks through limit orders and stop losses, and monitor account balances and trade histories. The app is also said to feature real-time price charts, advanced technical indicators, and drawing tools, enabling traders to make informed decisions from anywhere. However, the broker's website mentioned they use MT5 platform as well, but we did not find any such info or download links, you should seek for clear clarification from them directly before trading with them.Deposit & Withdrawal EFI MARKETS enables a variety of deposit and withdrawal methods for clients across different regions. Deposits can be made using bank transfers, Klarna, major credit cards (Visa and MasterCard), PayPal, Skrill, Neteller, SafetyPay, and other regional services like Przelewy and iBank&BankLink. Most deposits are processed instantaneously, while bank transfers may take up to 3 business days. For withdrawals, options include bank transfers, PayPal, Skrill, Neteller, and iBank&BankLink, with a focus on providing one free withdrawal request each month. Processing times for withdrawals typically range from instantaneous to up to 3 business days. Deposit methodsDeposit MethodAccepted CurrenciesCommissions & FeesMinimum AmountMaximum AmountProcessing TimeBank TransferEUR, USD, AUD, BGN, CHF, CZK, GBP, HRK, HUF, NOK, PLN, RON, RUB, SEK❌No minimumNo maximumUp to 3 business daysKlarnaEUR, GBP❌50 EUR/GBP10,000 EUR/5,000 GBPInstantaneousVisa/MasterCardEUR, USD, GBP, CHF, PLN, HUF, BGN, CZK, HRK, NOK, RON, SEK, AUD, SGD❌Varies (e.g., 50 EUR)Varies (e.g., 5,000 EUR)PayPalEUR, USD, GBP, CHF, PLN, HUF, CZK, SEK, AUD, SGD❌Varies (e.g., 500 EUR)SkrillEUR, GBP, USD, CHF, PLN, CZK, HUF, BGN, RON, HRK0.9%, min. 1 EUR/GBP/USD/CHF/PLN50 EUR/GBP/USD/CHF10,000 EUR/GBP/USD/CHFNetellerEUR, GBP0.9%, min. 1 EUR/GBP50 EUR/GBP10,000 EUR/GBPSafetyPayUSD, CLP❌50 USD/45,000 CLP5,000 USD/4,500,000 CLPUp to 1 business dayPrzelewyPLN❌50 PLN30,000 PLNiBank&BankLinkEUR, CNY, IDR, MYR, THB, VND❌10 EUR/100 CNY5,000 EUR/200,000 CNYiDEALEUR❌50 EUR10,000 EURInstantaneous Withdrawal methodsWithdrawal MethodAccepted CurrenciesCommissions & FeesMinimum AmountMaximum AmountProcessing TimeBank TransferEUR, USD, AUD, BGN, CHF, CZK, GBP, HRK, HUF, NOK, PLN, RON, RUB, SEK1 free withdrawal per monthNo minimumNo maximumUp to 3 business daysPayPalEUR, USD, GBP, CHF, PLN, HUF, CZK, SEK, AUD, SGD1 EUR/GBP/USD/CHF10,000 EUR/40,000 PLNInstantaneousSkrillEUR, GBP, USD, CHF, PLN, CZK, HUF, BGN, RON, HRKNetellerEUR, GBP1 EUR/GBP10,000 EUR/GBPiBank&BankLinkEUR, CNY, IDR, MYR, THB, VND100 CNY/200,000 IDR200,000 CNY/200,000,000 IDR1-3 business days