EuropeFX Review - Our featured CySEC Regulated Forex and CFD Broker
Our EuropeFX review at a glance
EuropeFX is a relatively new broker, entering the FX industry in 2014. Despite its only recent emergence, EuropeFX has already gained an excellent reputation among its peers for being professional, and reliable. The brokerage firm was established in 2013 in Limassol, Cyprus, where it is currently headquartered. EuropeFX is part of Maxiflex Ltd. The broker has offices in Cyprus, Germany and Australia. Our EuropeFX review will take an in-depth look at this STP broker.
EuropeFX offers STP execution on all its trades, as well as an extensive range of tradeable assets and trading options available. The broker provides comprehensive trading tools and supports to their clients to provide a better, more comfortable, and profitable trading experience.
EuropeFX is a highly secured broker that is secured by 128-bit encryption, and all its financial transactions are carried out via payment regulated processors on PCI compliant servers. EuropeFX is authorized and regulated by various bodies such as CySEC and ASIC.
Our EuropeFX Review Ratings
EuropeFX offers various accounts to their clients that all vary in the features they offer. Despite their differences, all of the accounts offer the following:
- STP/NDD (No dealing desk execution)
- Stop out level at 50%
- Maximum leverage up to 1:30. Professional accounts have leverage up to 1:200
- Variable, tight spreads
- Access to EuropeFX's rich education center
- A demo account to try out the platforms
- Online chat support
The Bronze account of EuropeFX is the most straightforward account of EuropeFX. The minimum deposit for this account is €1000. With this account, you get a relationship manager on a trial period, as well as Trading Central Daily Newsletter. In addition to this, you will receive premium signals from the Trading Center, also on a trial period.
Furthermore, you get one private one-on-one session at EuropeFX's Trading Academy.
The Bronze account does not off private trading sessions, access to the Event Room, SMS Trading Notification, or VIP services. You do not have access to copy trading tools such as Mirror Trader and RoboX, either. Trading commissions are standard with the Bronze account.
The Silver account of EuropeFx offers some extra features compared to the Bronze account. The minimum deposit for this account is €2500. With this account, you get a relationship manager, and you receive the Trading Central Newsletter on a daily basis. In addition to this, you will receive premium signals from the Trading Center, on a trial period.
Furthermore, you get three private one-on-one sessions per month at EuropeFX's Trading Academy.
The Silver account does not off private trading sessions, access to the Event Room, SMS Trading Notification, or VIP services. You do have access to the copy trading tool, Mirror Trader. Trading commissions are standard with the Silver account.
The Gold account of EuropeFx offers some extra features compared to the Silver account. The minimum deposit for this account is €10,000. With this account, you get a relationship manager, and you receive the Trading Central Newsletter on a daily basis. In addition to this, you will receive premium signals from the Trading Center.
Furthermore, you get four private one-on-one sessions at EuropeFX's Trading Academy, as well as two private trading sessions per month, access to the Event Room (one event per month), and SMS Trading Notifications. Furthermore, you will have access to the copy trading tools Mirror Trader and RoboX. Trading commissions have up to 10% discount with the Gold account. VIP services are not offered.
The Platinum account of EuropeFx offers some extra features compared to the Gold account. The minimum deposit for this account is €25,000. With this account, you get a relationship manager, and you receive the Trading Central Newsletter on a daily basis. In addition to this, you will receive premium signals from the Trading Center.
Furthermore, you get eight private one-on-one sessions at EuropeFX's Trading Academy, as well as four private trading sessions per month, access to the Event Room (two events per month), and SMS Trading Notifications. Furthermore, you will have access to the copy trading tools Mirror Trader and RoboX. Trading commissions have up to 25% discount with the Platinum account. VIP services are not offered.
The Premium account of EuropeFx offers some extra features compared to the Platinum account. The minimum deposit for this account is €50,000. With this account, you get a relationship manager, and you receive the Trading Central Newsletter on a daily basis. In addition to this, you will receive premium signals from the Trading Center.
Furthermore, you get sixteen private one-on-one sessions at EuropeFX's Trading Academy, as well as eight private trading sessions per month, access to the Event Room (two events per month), and SMS Trading Notifications. Furthermore, you will have access to the copy trading tools Mirror Trader and RoboX. Trading commissions have up to 25% discount with the Platinum account. VIP services are offered on a trial period.
EuropeFX also offers VIP accounts for more senior traders who are looking for more competitive pricing. Clients who have a VIP account can receive leverage up to 1:300, as well as great discounts on trading commissions (up to 75%). Furthermore, they receive premium educational materials and unique trading tools. Professional traders also have priority when booking education lessons with trainers.
There are three account types that are part of the VIP program – with each account; you unlock different unique features.
To have access to the Diamond account, you need to deposit between $200,000 and $500,000, while of the Elite account, you need to deposit between $500,000 and $1,000,000. Finally, to access the Prestige account of EuropeFX, you need to deposit over $1,000,000.
Account Opening & KYC
Opening an account with EuropeFX is relatively simple and straightforward. After registering with your details such as name, surname, date of birth, phone number, email, etc. you will need to verify your account. For that, you must submit the following documents:
- A recent utility bill or bank statement (less than three months old)
- Government ID, passport, or driver's license. UK clients must provide their National insurance number, while other countries must share their Tax Identification number.
EuropeFX will verify your documents in about 24 hours, but the account will be active in just thirty minutes after uploading documents. The whole procedure was swift and straightforward. Since the broker offers a large variety of accounts to choose from, there is something for everyone.
We found that EuropeFX highly values client fund security and prioritizes this by strictly following the guidelines of their regulators. EuropeFX is regulated by CySEC (Cyprus Securities and Exchange Commission) and AISC (Australian Securities and Investments Commission).
CySEC authorizes broker firms to offer various services, such as investment advice, portfolio management, to execute offers on behalf of clients, offer investment research, etc. Both CySEC and AISC obligate the brokers under their authorization to provide negative balance protection, electronic verification and of course to keep clients funds in segregated
Due to the regulations imposed by their regulators, EuropeFX keeps clients' funds in a separate account from company funds.
EuropeFX also complies with MiFID II (Markets in Financial Instruments Directive), whose objective is to ensure brokers offer financial transparency and greater client fund protection. In addition to this, EuropeFX is regulated by ICF (Investor Compensation Fund). The objective of ICF is to protect clients and offer compensation investments in the brokerage firm they are using goes bankrupt. Investors' funds are protected up ton €20,000.
EuropeFX offers STP (Straight-Through Processing) execution. STP allows the entire execution process to be free from human intervention. In STP execution, the broker's fee is levied into the spread, but essentially the end cost of the trade is the same as with ECN execution
The broker has excellent trading conditions. The spreads are tight, and the discounts on commissions are great. Due to the new ESMA regulation, normal accounts have leverage up to 1:30, while professional accounts have leverage up to 1:200.
The base currencies are available for trading at EUR, USD, and GBP. There are multiple ways to deposit funds, such as visa/credit card, bank wire, and numerous e-wallets like Skrill, SafeCharge, Sofort, Emerchantpay, Ideal, GIROPAY, etc. There are no deposit fees.
For withdrawals, all the same methods apply; however, there is a 25 USD/EUR/GBP withdrawal fee.
EuropeFX offers the popular MT4 (MetaTrader) platform to its traders. MT4 was developed by the fintech company MetaQuotes – the platform is well-known and appreciated by traders worldwide. MT4 was built on the MQL4 programming language and was released in 2005. The platform comes with plenty of analytics tools and up to nine timeframes. There is a built-in library of over 50 technical indicators
MT4 offers advanced order types like Market Orders, Pending Orders, Stop Orders, and Trailing Stops. Furthermore, MT4 offers technical indicators and custom indicators that allow traders to create bespoke indicators that are aimed at technical analysis. The platform is available as downloadable software for most operating systems, on browser and Android and iOS mobile devices.
MT4 is great for beginner traders as the platform offers a straightforward and straightforward to use experience. The interface is clean and user-friendly, and the software is highly compatible and does not overwhelm the PC when in use. The platform allows three trade execution models to choose from:
- Instant execution
- Execution on request
- Execution by market
A pending order can be either a stop-loss, stop or limit order. MT4 allows automated trading, which is highly popular among modern traders. Since the platform is highly customizable, there are a wide number of EAs (Expert Advisors) available to install.
Due to the fact that MT4 has been utilized on such a large scale, the platform is available in a variety of languages. In addition to this, it facilitates communication between brokers by posting messages. It is highly customizable and very secure too. MetaQuotes has also released another popular platform called MT5 (MetaTrader 5) which many mistake for being the upgrade of MT4. It isn't; instead it's a whole different platform for an alternative trading experience.
EuropeFX offers a large range of financial instruments across six asset classes:
- Forex: Major, minor, and exotic currency pairs.
- CFDS: Contract for Different. These are agreements between the buyer and the seller to exchange the difference between the buying and selling price between two assets.
- Indices: You invest in numerical changes in the value of a particular sector of the market.
- Shares: stocks of popular public companies like Facebook, Google, Apple, etc.
- Commodities: Hard and soft commodities like gold, copper, natural gas, crude old and corn, cotton, wheat, etc.
- Cannabis Stocks: Stocks of companies who produce cannabinoid-based medicines, like GW Pharmaceuticals, AbbieVie Inc., and Scotts Miracle-Gro.
- Cryptocurrencies: Popular cryptos like Bitcoin, Ethereum, Litecoin, Ripple XRP, and Dash.
EuropeFX offers two types of tools for copy trading: Mirror Trader and RoboX:
Mirror Trader is an add-on tool to the platforms of EuropeFX that was created by the fintech company Tradency. It allows clients to copy or '' mirror" the trades of other users. Mirror Trader tracks all the available trades and strategies on the system and will enable traders to match their trading portfolio. Mirror Trader operates like a community – traders with thoroughly developed, lucrative trading strategies allow others to copy their trades for a fee.
Another tool offered by EuropeFX is RoboX, which was also developed by Tradency. This tool is based on a proprietary algorithm that matches your trading profile and aspirations to available strategies. You will need to complete a RoboX questionnaire before using it.
Both of the tools have vast communities of strategy providers that can make your trading experience more lucrative in the long run.
Trader Education Tools
EuropeFX takes trader's education very seriously and offers its traders plenty of valuable resources to help them educate themselves in trading. There are materials available for both beginner traders and more advanced ones.
- eBooks: broad online trading e-book that's straightforward and easy to follow. The eBook pages unlock as you go through and earn points. There are three eBooks available: the first eBook aims at helping traders learn new skills to succeed in Forex trading. The second book helps traders succeed in Stocks trading, and the third e-book focuses on succeeding in CFD trading.
- Video Courses: Video courses are designed in the same way as the eBook course – to unlock new videos, you need to earn points by taking a test at the end of each video course. The topics of the video courses include forex trading, market analysis, trading psychology, trading strategies, MT4 and MT4 mobile walk-through, technical indicators, signals, stocks, CFDs, and Indicators.
- Trading Glossary: EuropeFX offers a detailed glossary that contains a wide range of financial terms and their definitions.
- Webinars: Live webinars are hosted on a weekly basis. The webinars are highly educational and detailed; the broker offers training on margin calculation, FED interest rate decision, market analysis, technical and fundamental education, and more.
- Economic Calendar: The economic calendar contains the most important economic events that will happen around the world, and that can affect financial markets.
- Market News: Most recent news about financial markets globally. This section is regularly updated to ensure clients have the most current information.
- FAQs: A detailed frequently asked questions section that ranges from topics about trading to how to open an account, deposit your first funds, and more.
- Trading Central: Broad range of technical analysis with market insights.
- Market Watch: Follow economic indicators and schedules of bonds, commodities, stocks, and currencies.
- Market Reviews: Daily market updates prepared by EuropeFX's inhouse financial analysts.
- Blog: An interesting blog on topics related to trading like business, politics, and finance, that is regularly updated.
It was important to touch on the excellent customer support that is offered by EuropeFX.
The customer support team is available on a 24/5 basis, and the level of customer support is fantastic. The team is multilingual, helpful, easy to communicate with, and very attentive. We connected to the team very quickly and received relevant feedback to our queries.
An important part of our EuropeFX review would be to touch on the sponsorship agreements the broker has entered into.
EuropeFX has been a sponsor of the South Sydney Rabbitohs rugby team since 2019. The South Sydney Rabbitohs is one of Australia's oldest rugby league teams and the most successful professional team. The team has an extensive fanbase in Australia and has been among the top-tier rugby teams worldwide for decades. The team will compete for the 23rd time in the 2020 NRL season, with EuropeFX supporting them all the way.