FONDEX Forex Broker

Registered Country Seychelles Regulation A cloned broker Minimum Deposit $1 Maximum Leverage 1:500 Trading Platform Fondex cTrader Demo Account Not available Trading assets Forex, Shares, Indices, Precious Metals, Energies, ETFs, Cryptocurrencies Payment Methods Wire Transfer, e-Wallets, Credit/Debits Cards Customer support Telephone: +248 467 1987 Email: support@fondex,com.scsupport@fondex.vn General Information This Fondex claims that it is an online forex broker registered in Seychelles, offering its clients a series of trading instruments covering Forex, Shares, Indices, Precious Metals, Energies, ETFs, Cryptocurrencies, and the maximum trading leverage that can be used is up to 1:500. Regulation This Fondex is the tradename of Fondex Limited. And this broker said it holds a license authorized by CYSEC, and a license authorized by FSA. However, Fondexs regulation is totally fake when we check the detailed regulatory information. In the following regulatory license, it is clearly showing that Licensed institution is Topfx Ltd, and website of licensed institution is www.topfx.com, which has nothing to do with this Fondex. The same condition with the second license it allegedly holds. Although the licensed institution is Fondex Limited, the websites of licensed institution listed are http://www.fondex.com.sc/, http://www.topfx.com.sc/, also having nothing to do with this Fondexs website: https://fondex.com/en/. Please take care to distinguish. Market Instruments Investors can trade over 80 currency pairs, 900+ global stocks, crude oil and natural gas, 15 major indices, precious metals, and exchange-traded funds on the FONDEX platform. Minimum Deposit FONDEX offer a single trading account for all investors, and it requires no minimum deposit, which sounds a good option for new traders to have a try. Leverage The maximum leverage available is up to 1:500 for major currency pairs in Forex, 1:100 for precious metals, energy, and indices, 1:20 for CFDs on stocks, 1:10 for exchange-traded funds 1:30 for cryptocurrencies. Spreads & Commissions Spreads start from 0.0 pips while average spreads on the EUR/USD and GBP/USD forex pairs are 0.28 and 0.71 pips respectively. Commissions are $2.50 per USD 100,000 for Forex, $0.01 per share (min. $1) for equities, $2.50 per USD 100,000 for crude oil and natural gas, $2.50 per USD 100,000 for metals and $0.01 per share (min. $1) for exchange-traded funds. Trading Platform Fondex cTrader can execute orders within milliseconds, and traders can make informed decisions using trading central's intelligent market analysis tools, real-time sentiment data, and in-platform market insights, easy to use & navigate. Fondex cTrader is built with the needs of real traders in mind, and the trading platform has over 70 built-in technical indicators, 26 timelines, and 4 chart types to provide traders with a superior trading environment. Deposit & Withdrawal FONDEX offers traders a wide range of deposit and withdrawal channels, mainly VISA, MasterCard, Maestro (for all currencies), SEPA Wire (for EUR), WebMoney (for EUR, USD), B2B in PAY (for Bitcoin, Litecoin, Bitcoin Cash and Ether), PayTrust (for THB, VND, MYR, and IDR), PayMero (for THB, VND, MYR, and CNY), EPS (for THB), no fees for incoming and outgoing deposits. Trading Hours Fondex trading hours follow standard market opening and closing times. So forex trading hours open at 22:00 GMT Sunday through to 22:00 GMT Friday. Metals operate from 23:00 GMT Sunday through to 22:00 GMT Friday. Stock indices and shares follow the opening times of their respective market operating hours. Customer Support Customer support is based in Cyprus, offering business hours support in a range of languages, available in English, French, Russian, Greek and Arabic 24/5 via online chat box and telephone support – +357 25028079. Pros & Cons Pros Cons None No regulation Fake broker Fake official website Weak trading platform Poor customer support Frequently Asked Questions Is This Fondex regulated？ No, this Fondex broker is just a cloned broker which pretends to be regulated. What trading instruments does Fondex offer？ Fondex offers over 80 currency pairs, 900 global stocks, crude oil and natural gas, 15 major indices, precious metals, as well as ETFs. What is the minimum deposit required by Fondex？ Fondex requires no minimum deposit to get started.