VenusFX Forex Broker

Note: VenusFX's official website: https://venusfx.co/ is currently inaccessible normally.VenusFXReview SummaryFounded/Registered Country/RegionUnited KingdomRegulationNot regulatedMarket InstrumentsCFDs, Cryptocurrencies, Currency pairsDemo Account/LeverageUp to 1:1000EUR/USD Spread0.8 pipsTrading PlatformWebtraderMin Deposit$5000Customer Support24/5 contact formPhone: +44 2081576795Email: support@venusfx.co VenusFX is an offshore broker who was regeisterd in the United Kingdom in 2024. Its leverage is up to 1:1000. However, its minimum deposit is up to $5000, and it is not regulated.Pros and ConsProsConsDiverse trading instrumentsHigh minimum depositNot regulatedNo MT4 or MT5Relatively newIs VenusFX Legit? VenusFX is not regulated, even the UK's Financial Conduct Authority (FCA) warned it is not authorised. It means VenusFX is not supervised by any regulations and doesn't need to obey the rules of regulations. Traders should be cautious when trading.What Can I Trade on VenusFX?Tradable InstrumentsSupportedCFDs✔Cryptocurrencies✔Currency pairs✔Commodities✔Indices❌Stocks❌Options❌Account Type VenusFX offers five account types: Basic, Silver, Gold, Platinum and Diamond.Account TypeMin DepositBasic$5000Silver$10000Gold$25000Platinum$100000Diamond$1000000+Leverage The leverage ratio is the amount of money you can borrow to trade with. VenusFX offers maximum leverage of up to 1:1000, which means that you can control a position worth 1000 times your initial deposit. For example, if you deposit $100, you could control a position worth $100,000. The leverage ratios for the different account types at VenusFX are as follows:Account TypeMax LeverageBasic1:50Silver1:100Gold1:200Platinum1:400Diamond1:1000 Leverage can magnify your profits, but it can also magnify your losses. If the market moves against you, you could lose more money than you deposited.Spread The spread of VenusFX is 0.8 pips on EUR/USD, which costs less than other brokers.Trading Platform VenusFX offers VenusFX Trading Platform, which is a web-based trading platform that allows you to trade from any device with an internet connection.Trading PlatformSupportedAvailable DevicesSuitable forWebtrader✔Web/MT4❌Desktop, Mobile, WebBeginnersMT5❌Desktop, Mobile, WebExperienced tradersDeposit and Withdrawal VenusFX claims that it can deposit and withdraw through VISA, Mastercard, Skrill, CashU, bank wire transfers and Bitcoins. However, it also needs 20% fees for withdrawal. The minimum deposit is $5000 and deposit fees are not mentioned.