ETFX Forex Broker

Note: ETFX's official website - http://www.etfx.com/# is currently inaccessible normally.ETFXReview SummaryFounded2003Registered Country/RegionNew ZealandRegulationFSPR/VFSC (Revoked)Market InstrumentsForex currency pairs, Gold, Silver, CFDs, Crude oilDemo Account✅LeverageUp to 1:200EUR/USD SpreadAverage 1.9 pips (Standard account)Trading PlatformМetaТrader4Min Deposit/Customer SupportTel: 4001338228Email: service@etfx.com ETFX was registered in New Zealand in 2003 and has regulatory issues. You can register a demo account, with a maximum leverage of up to 1:200 and average spread of 1.9 pips through the MT4 platform.Pros and ConsPros Cons Long historyUnavailable websiteDemo accountsRegulatory issuesMT4 platformWide EUR/USD spreadsLimited payment optionsIs ETFX Legit? No. ETFX currently has no valid regulations. It only holds two revoked regulatory licenses. Please be aware of the risk!Regulatory Status RevokedRegulated by Financial Service Providers Register (FSPR)Licensed Institution GOLDEN FINANCE LIMITEDLicensed TypeFinancial Service CorporateLicensed Number549786Regulatory Status RevokedRegulated by Vanuatu Financial Services Commission (VFSC)Licensed Institution ET SERVICES LIMITEDLicensed TypeRetail Forex LicenseLicensed Number40166What Can I Trade on ETFX?Tradable Instruments Supported Forex currency pairs✔Gold & Silver✔CFDs✔Crude oil✔Stocks❌Cryptocurrencies❌Bonds❌Options❌ETFs❌Leverage ETFX offers leverage up to 1:200. Although lower leverage results in relatively lower returns, the risk is also reduced accordingly.Spread The average EUR/USD spread on ETFX for the Standard account is 1.9 pips, higher than the industry average, with most brokers offering EUR/USD spreads between 1.1 and 1.5 pips. We all know that high spreads mean higher trading costs.Trading PlatformTrading PlatformSupported Available Devices Suitable for MT4✔/BeginnersMT5❌/Experienced tradersDeposit and Withdrawal ETFX only supports traders to deposit and withdraw funds to their investment accounts via UnionPay cards.