Everforex Forex Broker

Everforex Broker - Complete Information Guide

1. Broker Overview

　　Everforex, established in 2005, is a financial institution that specializes in foreign exchange services and international payments. The company's headquarters is located at 430-5900 No. 3 Road (Vancity Office Tower), Richmond, BC V6X 3P7, Canada. As a privately held entity, Everforex operates primarily in the retail forex market, catering to a diverse clientele that includes individual traders and businesses seeking efficient currency exchange solutions.

　　Over the years, Everforex has evolved significantly, marking important milestones in its journey. The firm has developed a robust online trading platform and established multiple branches across Canada, particularly in the Greater Vancouver and Greater Toronto areas. This expansion has allowed Everforex to enhance its service offerings and reach a broader audience.

　　Everforex operates under the umbrella of Everforex Financial Pty Ltd, which is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). The brokers business model focuses on providing retail forex services, currency exchange, and international payment solutions, ensuring that clients have access to a wide range of financial products.

2. Regulatory and Compliance Information

　　Everforex operates without specific regulatory oversight, which raises significant concerns regarding the safety and security of client funds. The broker is registered with FINTRAC in Canada, with registration number M 08358136. However, it does not possess a license from a major financial regulatory authority, which limits the protections typically afforded to clients in regulated environments.

　　The lack of regulatory licenses means that Everforex does not adhere to the stringent compliance requirements imposed by financial authorities, potentially exposing clients to higher risks. The broker has implemented basic Know Your Customer (KYC) and Anti-Money Laundering (AML) measures to comply with Canadian laws, but the absence of a recognized regulatory body overseeing its operations is a significant drawback.

　　Client funds are reportedly held in segregated accounts, which is a standard practice intended to protect client assets. However, the lack of participation in an investor compensation scheme further complicates the security of client investments, as there is no safety net in case of insolvency.

3. Trading Products and Services

　　Everforex offers a broad range of trading products, primarily focused on foreign exchange. The broker provides access to over 130 currency pairs, including major, minor, and exotic currencies. In addition to forex, Everforex facilitates trading in Contracts for Difference (CFDs) across various asset classes such as indices, commodities, stocks, and cryptocurrencies.

　　The broker continuously updates its product offerings, ensuring that clients have access to the latest financial instruments. Everforex also caters to retail traders with services designed to enhance their trading experience, including competitive spreads and efficient execution.

　　While the primary focus remains on retail trading, Everforex also offers services tailored for institutional clients, including white-label solutions and asset management services. This diversification allows the broker to serve a wide array of clients, from individual traders to larger financial institutions.

4. Trading Platform and Technology

　　Everforex primarily utilizes the Everforex Online platform, which is designed to meet the diverse needs of its clients. The platform is web-based, providing users with access to real-time market data and trading capabilities. While the broker does not support MetaTrader 4 or 5, it offers a proprietary trading solution that is user-friendly and equipped with essential trading tools.

　　The web platform allows for seamless trading across devices, ensuring that clients can manage their accounts and execute trades from anywhere. Additionally, Everforex supports mobile trading through applications available for both iOS and Android devices, enabling traders to stay connected to the markets on the go.

　　In terms of execution modes, Everforex employs a Straight Through Processing (STP) model, which facilitates direct market access and enhances trade execution speed. The broker's technology infrastructure is designed to provide reliable service, although specific details regarding server locations and API access for automated trading are not extensively disclosed.

5. Account Types and Trading Conditions

　　Everforex offers three primary account types tailored to different trading needs:

• Standard Account: Requires a minimum deposit of $250, with spreads starting from 1.2 pips and no commissions on trades, except for CFDs on shares.
• Premium Account: Requires a minimum deposit of $5,000, with spreads starting from 0.8 pips and no commissions on trades, except for CFDs on shares.
• VIP Account: Requires a minimum deposit of $30,000, offering spreads from 0 pips and a commission of $2 per lot traded.

　　The broker provides leverage options that vary depending on the type of account and the specific trading instruments, allowing traders to maximize their potential returns. Everforex also offers a demo account for practice, enabling new traders to familiarize themselves with the platform and trading conditions without risking real capital.

6. Fund Management

　　Everforex supports a variety of deposit and withdrawal methods to facilitate easy fund management for its clients. Accepted deposit methods include:

• Bank Transfers
• Credit Cards (Visa, MasterCard)
• E-Wallets (such as Skrill and Neteller)

　　The minimum deposit requirement varies by account type, with the standard account starting at $250. Deposits are processed quickly, typically within an hour for credit card transactions, while bank transfers may take up to 5 business days.

　　Withdrawal methods mirror those for deposits, and processing times for withdrawals are generally around 1 business day. However, certain withdrawal methods may incur fees, and clients should be aware of the potential costs associated with each transaction.

7. Customer Support and Educational Resources

　　Everforex places a strong emphasis on customer support, offering multiple channels for clients to reach out for assistance. Support options include:

• Phone: Available at +1 800-699-4816 and +1 (604) 279-8599
• Email: Clients can contact support at csr@everforex.ca
• Live Chat: Available on the website for immediate assistance

　　The support team is available 24/5, ensuring that clients can receive help during market hours. Everforex also provides educational resources to empower traders, including webinars, tutorials, and market analysis reports.

8. Regional Coverage and Restrictions

　　Everforex primarily serves clients in Canada, with its operations concentrated in major urban areas like Vancouver and Toronto. However, the broker does not accept clients from specific jurisdictions, including the USA, Belgium, Iran, Canada, and North Korea.

　　This limitation is essential for potential clients to consider, as it may affect their ability to open an account based on their location. Everforex's focus on the Canadian market allows it to tailor its services to meet the specific needs of local traders.

　　In conclusion, Everforex broker offers a range of financial services and trading solutions, primarily focusing on currency exchange and international payments. However, the lack of regulatory oversight poses significant risks, and potential clients should weigh these factors carefully when considering their options.