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EQFX foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website http://www.eqfx.co.uk, about the company's legal and temporary regulatory information, the company's address .

EQFX Forex Broker

Basic Information

Registered Region

United Kingdom

Operating Period

Company Name

EQFX

Abbreviation

EQFX

Company employee

Customer Service Email Address

info@eqfx.co.uk

Contact Number

0203 897 0792

Company Website

http://www.eqfx.co.uk

Facebook

https://www.facebook.com/eqtraders/

https://twitter.com/hashtag/EQTraders

Keywords

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

Company profile

Aspect Information Company Name EQFX Registered Country/Area Switzerland Founded Year 2017 Regulation Unregulated Minimum Deposit Standard: $200, Raw Spread: $200, VIP: $5,000 Maximum Leverage Up to 1:20 Spreads Standard: From 0.1 pips, Raw Spread: From 0.0 pips Trading Platforms Web-based trading platform Tradable Assets Forex (Major, Minor, Exotic pairs) Account Types Standard, Raw Spread, VIP Customer Support Phone: 0203 897 0792, Email: info@eqfx.co.uk Deposit & Withdrawal Credit/debit cards, Bank transfers Educational Resources Unavailable Overview of EQFX EQFX, founded in Switzerland in 2017, operates as a forex-only trading platform, specializing in currency pair transactions. Despite offering diverse forex trading options, EQFX operates without regulatory oversight, introducing potential risks for traders. The absence of a regulatory license raises concerns about client protection and adherence to industry standards. While the platform facilitates forex trading, the lack of regulatory backing may affect transparency and dispute resolution. Traders are advised to exercise caution and thoroughly assess associated risks before engaging with EQFX, given its unregulated status. Is EQFX legit or a scam？ EQFX operates without regulatory oversight, posing potential risks for traders. The absence of regulation means there is no external authority ensuring fair practices, transparency, or adherence to industry standards. This lack of oversight exposes traders to inherent dangers, as they may face challenges in seeking recourse for disputes, and the platform may not be held to the stringent standards enforced by regulatory bodies. Traders should exercise caution and carefully consider the potential risks associated with using an unregulated platform like EQFX, as the absence of regulatory safeguards can impact the overall security and integrity of financial transactions. Pros and Cons Pros Cons Diverse Range of Currency Pairs Unregulated Various Account Types Limited Educational Resources Competitive Spreads and Commission Official Website Not Currently Available Various Payment Methods Various Customer Support Channels Pros: Diverse Range of Currency Pairs: EQFX offers a broad selection of currency pairs, including major, minor, and exotic options. This diversity allows traders to engage in various combinations, catering to different risk appetites and trading strategies. 2. Various Account Types: EQFX provides three distinct account types – Standard, Raw Spread, and VIP, accommodating diverse trader needs. Each account type comes with varied minimum deposits and exclusive benefits, offering flexibility for traders with different preferences. 3. Competitive Spreads and Commission: EQFX offers competitive spreads and commission structures across its account types. The Standard Account features spreads starting from 0.1 pips with no commission charges, providing a cost-effective option. 4. Various Payment Methods: EQFX accepts a variety of payment methods, including credit/debit cards (Visa, Mastercard, Maestro) and bank transfers (wire transfers, ACH transfers). This diversity in payment options enhances convenience for traders with different preferences. 5. Various Customer Support Channels: EQFX provides customer support through multiple channels, including phone (0203 897 0792) and email (info@eqfx.co.uk). The platform maintains an active presence on social media platforms, including Twitter (https://twitter.com/hashtag/EQTraders) and Facebook (https://www.facebook.com/eqtraders/), ensuring accessibility and engagement for users seeking assistance or information. Cons: Unregulated: EQFX operates without regulatory oversight, exposing traders to potential risks. The absence of regulation means there is no external authority ensuring fair practices, transparency, or adherence to industry standards. 2. Limited Educational Resources: The current unavailability of EQFX's official website restricts access to educational materials. This limitation may impact traders and investors seeking valuable insights and learning resources to enhance their understanding of the financial markets. 3. Official Website Not Currently Available: The official EQFX website is not currently accessible. The unavailability of the website may inconvenience users seeking essential information and updates related to EQFX's services and offerings. Market Instruments EQFX operates as a forex broker, offering a range of currency pairs categorized into major, minor, and exotic, including: Major Currency Pairs: EUR/USD (Euro/US Dollar) USD/JPY (US Dollar/Japanese Yen) GBP/USD (British Pound/US Dollar) USD/CHF (US Dollar/Swiss Franc) Minor Currency Pairs: EUR/AUD (Euro/Australian Dollar) GBP/CAD (British Pound/Canadian Dollar) NZD/JPY (New Zealand Dollar/Japanese Yen) AUD/CHF (Australian Dollar/Swiss Franc) Exotic Currency Pairs: USD/SGD (US Dollar/Singapore Dollar) EUR/TRY (Euro/Turkish Lira) GBP/SEK (British Pound/Swedish Krona) USD/THB (US Dollar/Thai Baht) This diversity allows traders to engage in various combinations, catering to different risk appetites and trading strategies. Account Types EQFX offers three distinct account types – Standard Account, Raw Spread Account, and VIP Account – each tailored to meet the diverse needs of traders. Here's a detailed breakdown of the features: The Standard Account requires a minimum deposit of $200, offering competitive spreads from 0.1 pips and no commission charges. Traders opting for the Raw Spread Account experience tighter spreads from 0.0 pips, with a commission of $2 per lot round turn. The VIP Account, requiring a minimum deposit of $5,000, boasts spreads from 0.0 pips with no commission. All accounts utilize the user-friendly web-based trading platform. Additionally, VIP Account holders enjoy exclusive access to trading signals. These options cater to traders with varying strategies and preferences, providing flexibility and choice in their trading journey. Feature Standard Account Raw Spread Account VIP Account Minimum deposit $200 $200 $5,000 Leverage Up to 1:20 Up to 1:20 Up to 1:20 Spreads From 0.1 pips From 0.0 pips From 0.0 pips Commission $0 $2 per lot round turn $0 Trading tool Web-based trading platform Web-based trading platform Web-based trading platform Additional benefits None None Access to exclusive trading signals How to Open an Account？ Here's a step-by-step guide on how to open an account with EQFX: Visit the Official Website: Start by accessing the official website of EQFX using your web browser. 2. Account Type Selection: Explore the available account types (e.g., Standard, Raw Spread, VIP) and choose the one that suits your trading preferences and needs. 3. Online Application Form: Complete the online application form provided on the website. Input accurate personal details including your full name, contact information, residential address, and financial information. 4. Read and Accept Terms: Carefully read through the terms and conditions associated with account opening. Ensure you understand and agree to the terms before proceeding. 5. Document Submission: As part of the account verification process, be prepared to submit necessary identification documents. This often includes a copy of your passport, proof of address (utility bill or bank statement), and any additional documents requested. 6. Deposit Funds: After your account is approved, fund it with the minimum deposit required. EQFX may specify different deposit amounts based on the chosen account type. 7. Explore Trading Platform: Once funded, you can explore EQFX's web-based trading platform. Familiarize yourself with its features, tools, and functionalities to optimize your trading experience. Always ensure that you follow security measures, review the provided information, and contact EQFX's customer support if you encounter any issues or have questions during the account opening process. Leverage EQFX provides leverage of up to 1:20 across all its account types, including the Standard Account, Raw Spread Account, and VIP Account. This leverage allows traders to potentially amplify their market exposure, enabling them to make more significant trades and potentially increase their profits or losses. Spreads & Commissions EQFX offers competitive spreads across its account types. The Standard Account features spreads starting from 0.1 pips, ensuring cost-effective trading. For traders seeking even tighter spreads, the Raw Spread Account provides options starting from 0.0 pips. The VIP Account extends this benefit, offering competitive spreads with no commission charges. Trading Platform EQFX is non MT4/MT5 provider, opting for a web-based trading platform. While it may not match the renown of MetaTrader platforms, this alternative offers traders versatility. The platform allows users to explore various time frames, providing flexibility in analyzing market trends and making informed decisions. Traders can access charts displaying historical price movements, essential for comprehensive technical analysis. Furthermore, EQFX's platform incorporates popular drawing tools, empowering users to visually represent market patterns and trends. Price indicators, a fundamental aspect of technical analysis, are also embedded, enhancing the platform's functionality. Despite not adopting the industry-standard MT4/MT5, EQFX's web-based platform strives to provide traders with essential tools and features for effective decision-making in the financial markets. Deposit & Withdrawal EQFX accepts a variety of payment methods, including: Credit/debit cards: Visa, Mastercard, Maestro Bank transfers: Wire transfers, ACH transfers The minimum deposit for an EQFX account depends on the account type you choose. The minimum deposits are: Standard: $200 Raw Spread: $200 VIP: $5,000 Deposits are processed instantly for credit/debit cards. Bank transfers may take 1-3 business days to process. Withdrawals are processed within 24 hours. Customer Support EQFX provides customer support through various channels, demonstrating a commitment to responsive assistance. Traders can contact the company via phone at 0203 897 0792 or through the customer service email address info@eqfx.co.uk. The platform maintains an active presence on social media platforms, including Twitter (https://twitter.com/hashtag/EQTraders) and Facebook (https://www.facebook.com/eqtraders/), keeping users informed and engaged. The availability of multiple communication options indicates a client-centric approach, ensuring accessibility and support for users seeking assistance or information related to EQFX services. Educational Resources EQFX's current official website is not accessible, and there is a lack of available educational resources. This limitation may impact traders and investors seeking valuable insights and learning materials to enhance their understanding of the financial markets. Access to comprehensive educational content is crucial for individuals looking to make informed decisions and navigate the complexities of trading successfully. Conclusion In conclusion, EQFX, established in Switzerland in 2017, serves as a forex-only trading platform, emphasizing currency pair transactions. Operating without regulatory oversight, the platform carries inherent risks for traders, particularly concerning client protection and adherence to industry standards. While offering diverse forex trading options, the absence of regulatory backing may impact transparency and dispute resolution. Traders should approach EQFX with caution, carefully evaluating the associated risks due to its unregulated status. The platform's foundation in 2017 without regulatory licensing underscores the importance of thorough consideration before engaging in financial transactions on the EQFX platform. FAQs Q: Is EQFX regulated？ A: No, EQFX operates without regulatory oversight. Q: What trading instruments does EQFX offer？ A: EQFX exclusively offers forex trading with a variety of currency pairs. Q: How many account types does EQFX provide？ A: EQFX offers three account types: Standard, Raw Spread, and VIP. Q: What is the minimum deposit for the Standard account？ A: The minimum deposit for the Standard account is $200. Q: Does EQFX have educational resources？ A: Currently, EQFX's official website is not accessible, limiting access to educational materials. Q: What is EQFX's customer support email？ A: EQFX's customer support email is info@eqfx.co.uk.

EQFX broker review

Is EQFX safe or scam

Rating Index

Pros

User-friendly trading platform with advanced technology.

Access to a variety of financial products including cryptocurrencies and CFDs.

Promotes innovative trading solutions and aims to adapt decentralized finance technology.

Cons

Unregulated broker, which poses significant risks to fund safety and security.

Negative reviews and allegations of scam practices, including difficulties in fund withdrawals.

Lack of transparency regarding company operations and management, raising concerns about trustworthiness.

How to login to EQFX?

eqfx Complete Account Guide: Registration, Account Opening, and Login Processes Part One: Account Registration Process How to Register a eqfx Account The registration process for an eqfx account is straightforward and can be completed in just a few steps. Below is a detailed guide to help you naviga

EQFX Forex Broker - Complete Information Guide

1. Broker Overview

EQFX, established in 2017, is a trading platform that provides a diverse range of financial products to its clients. The company's headquarters is located at Kemp House, 160 City Road, London EC1V 2NX, United Kingdom. EQFX operates as a private entity, focusing primarily on the retail forex market, which caters to individual traders seeking access to various trading instruments.

With a team boasting over ten years of experience in trading various asset classes, including stocks, forex, ETFs, commodities, and CFDs, EQFX aims to innovate the financial industry. The broker is particularly interested in integrating decentralized finance (DeFi) technology into its operations, thereby enhancing the trading experience for clients. The primary market served by EQFX includes individual retail traders globally, with a mission to provide easy access to crypto and DeFi asset classes through a robust trading platform.

Although EQFX claims to be a pioneering fintech startup with ambitions of transforming online trading, it has faced scrutiny regarding its regulatory status and operational transparency. The broker operates under a business model that emphasizes retail forex trading, but it lacks oversight from recognized regulatory bodies, which raises concerns about client protection and fund security.

2. Regulatory and Compliance Information

EQFX is currently an unregulated broker, which is a significant red flag for potential investors. There are no known regulatory agencies overseeing its operations, which poses a risk to clients' funds. The absence of a regulatory license means that there is no external authority ensuring compliance with industry standards or protecting clients in case of disputes.

Due to its unregulated status, EQFX does not participate in any investor compensation schemes, which are typically designed to protect clients in the event of a broker's insolvency. Furthermore, the broker's policies on client fund segregation are unclear, and there is no information available regarding its adherence to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.

In summary, the lack of regulatory oversight and transparency in EQFX's operations raises significant concerns about the safety of client funds and the overall integrity of the trading environment. Potential clients are strongly advised to exercise caution and thoroughly evaluate the risks associated with trading through an unregulated broker.

3. Trading Products and Services

EQFX offers a wide array of trading products, primarily focusing on forex currency pairs. The broker provides access to major, minor, and exotic currency pairs, catering to a diverse range of trading strategies and risk appetites. However, the specific number of currency pairs available has not been disclosed.

In addition to forex trading, EQFX claims to offer Contracts for Difference (CFDs) on various asset classes, including indices, commodities, stocks, and cryptocurrencies. The broker's cryptocurrency team is noted for being early adopters of blockchain technology, indicating a commitment to providing innovative trading solutions in the rapidly evolving crypto market.

While EQFX aims to introduce new products regularly, specific details about product updates and the frequency of new offerings remain undisclosed. The broker appears to cater mainly to retail clients, but there is no information about services for institutional clients or any white-label solutions.

Overall, while EQFX presents a broad range of financial products, the lack of transparency regarding its offerings and the absence of regulatory oversight pose risks for potential traders.

4. Trading Platform and Technology

EQFX provides its clients with a proprietary web-based trading platform, which is designed to facilitate a seamless trading experience. The platform is built on Angular JS technology and is capable of processing up to 100,000 orders per second, ensuring high-speed execution and deep liquidity for trading CFDs and cryptocurrencies.

However, EQFX does not support the widely recognized MetaTrader 4 or MetaTrader 5 platforms, which are preferred by many traders for their advanced features and functionalities. This may limit the trading experience for those accustomed to these platforms.

The web-based platform allows traders to access various time frames, charts, and essential technical analysis tools, although it lacks the robustness and popularity of the MetaTrader platforms. Additionally, EQFX does not provide a dedicated mobile application for iOS or Android, which may hinder traders who prefer mobile trading solutions.

Regarding execution models, EQFX's specific execution type—whether it operates on an ECN, STP, or Market Making basis—has not been explicitly stated. This lack of clarity is concerning, as it is crucial for traders to understand how their orders will be executed.

The broker's technical infrastructure, including server locations, is not publicly disclosed, raising further questions about the reliability and security of the trading environment. Furthermore, there is no information available regarding API access or support for automated trading strategies.

5. Account Types and Trading Conditions

EQFX offers several account types to cater to the diverse needs of its clients. The minimum deposit requirements vary by account type, with the standard account requiring a minimum deposit of $200. The trading conditions are as follows:

Standard Account: Minimum deposit of $200, competitive spreads starting from 0.1 pips, and no commission charges.
Raw Spread Account: Minimum deposit of $200, tighter spreads starting from 0.0 pips, with a commission of $2 per lot round turn.
VIP Account: Requires a minimum deposit of $5,000, offering spreads from 0.0 pips with no commission charges.

All account types utilize the web-based trading platform, and the broker provides a demo account for traders to familiarize themselves with the platform and trading strategies.

The leverage offered by EQFX can reach up to 1:500, allowing traders to amplify their market exposure significantly. However, such high leverage also comes with increased risk, and traders should carefully consider their risk appetite before engaging in leveraged trading.

The minimum trade size is set at 0.01 lots, providing flexibility for traders to manage their positions effectively. Information regarding overnight fees and other trading costs is not explicitly mentioned, which may lead to additional uncertainty for potential clients.

6. Fund Management

EQFX supports a variety of deposit methods to facilitate client transactions. Available options include bank transfers, credit cards, and electronic wallets. The minimum deposit requirements differ depending on the account type:

Standard Account: $200
Raw Spread Account: $200
VIP Account: $5,000

Deposits made via credit or debit cards are processed instantly, while bank transfers may take between 1 to 3 business days to complete. However, specific details regarding deposit fees have not been disclosed, leaving clients uncertain about potential costs associated with funding their accounts.

Withdrawals can be made through similar methods, but the specifics regarding withdrawal limits, processing times, and associated fees are also unclear. This lack of transparency can be concerning for clients, as it may lead to complications when attempting to access their funds.

In light of the broker's unregulated status, clients should be cautious regarding the security of their funds and the withdrawal process, as unregulated brokers often employ tactics that complicate fund retrieval.

7. Customer Support and Educational Resources

EQFX provides customer support through various channels, including phone and email. However, the broker does not offer a dedicated online chat service or comprehensive support resources. The primary contact methods include:

Phone: 0203 897 0792
Email: info@eqfx.co.uk

The broker's customer support is available during standard business hours, but the exact hours of operation and time zone coverage are not specified. Additionally, there is no information regarding multilingual support, which may limit accessibility for non-English speaking clients.

In terms of educational resources, EQFX appears to lack comprehensive offerings. The current unavailability of the official website restricts access to valuable educational materials, such as webinars, tutorials, and eBooks. This limitation may hinder traders seeking to enhance their understanding of the financial markets.

Market analysis services, including daily analysis, news updates, and research reports, are also not mentioned, which may impact traders' ability to make informed decisions. The absence of trading tools, such as calculators and economic calendars, further emphasizes the need for improved educational support.

8. Regional Coverage and Restrictions

EQFX aims to serve a global market, catering primarily to individual retail traders. However, specific details regarding the regions where the broker operates or any regional offices are not provided. Additionally, the broker does not disclose which countries it does not accept clients from, leaving potential traders uncertain about their eligibility.

Given the broker's unregulated status, it is likely that there are restrictions on clients from certain jurisdictions, particularly those with stringent regulatory frameworks. Traders should be aware of the potential risks associated with engaging in trading activities through an unregulated broker and ensure compliance with local laws.

In summary, while EQFX presents itself as a promising trading platform, the lack of regulation, transparency, and comprehensive support raises significant concerns for potential clients. Traders are strongly advised to conduct thorough research and consider the risks before engaging with EQFX.

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