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Etofx Markets
United Kingdom|2-5 years| https://www.etofxmk.com/en/index
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Etofx Markets Limited
Etofx Markets
United Kingdom
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- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The number of the complaints received by WikiFX have reached 4 for this broker in the past 3 months. Please be aware of the risk!
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Etofx Markets · Company Summary
| Etofx Markets Review Summary | |
| Founded | 2-5years |
| Registered Country/Region | United Kingdom |
| Regulation | Unregulated |
| Market Instruments | Forex, CFDs, ETFs, Options |
| Demo Account | ❌ |
| Leverage | Up to 1:500 |
| Spread | From 0.6 pips on EUR/USD |
| Trading Platform | MT4(Web/Desktop), cTrader(Web/Desktop), WebTrader(Web) |
| Min Deposit | $250 |
| Customer Support | Email: support@etofxmk.com |
Etofx Markets Information
Etofx Markets is a broker with various trading instruments and different account types. Trading instruments include FOREX, CFDs, ETFs, and limited options trading, involving underlying assets including currency pairs, stocks, commodities, indices, and cryptocurrencies. These account types are standard, premium, and VIP.
Etofx Markets, an unregulated broker, claims spread as low as 0. Etofx Markets requires a spread of 0.6 pips on EUR/USD and a commission of $3 and also offers maximum leverage of up to 1:500.
Pros and Cons
| Pros | Cons |
| Leverage up to 1:500 | Unregulated |
| Spread as low as 0(From 0.6 pips on EUR/USD) | Only one contact method: email |
| 4 trading instruments: FOREX, CFDs, ETFs, and Limited Options | Numerous accusations of pyramid schemes and fraud |
| 3 account types: standard, premium, and VIP | Home page closed |
| Difficulty of withdrawing money |
Is Etofx Markets Legit?
Etofx Markets is not regulated and the broker's domain name has not been registered, which means the company will have security issues.
What Can I Trade on Etofx Markets?
Etofx Markets offers assets involving currency pairs, stocks, commodities, indices, and cryptocurrencies. Traders can choose trading instruments such as FOREX, CFDs, ETFs, and limited options to invest in these assets.
| Tradable Instruments | Supported |
| Forex(currency pairs) | ✔ |
| Commodities | ✔ |
| Stocks | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| CFDs | ✔ |
| ETFs | ✔ |
| Limited Options | ✔ |
Account Type
Etofx Markets provides three account types: standard, premium, and VIP. It can be observed that the VIP account has the lowest spreads on both EUR/USD and GBP/USD, which are 0.6pips and 0.8pips respectively. The standard account has the highest two items, with 1pips on EUR/USD1pips and 1.2pips on GBP/USD respectively.
| Account Type | Standard | Premium | VIP |
| Spread on EUR/USD | 1.0pips | 0.8pips | 0.6pips |
| Spread on GBP/USD | 1.2pips | 1.0pips | 0.8pips |
| Commission | $3 | $3 | $3 |
| Maximum leverage | 1:500 | 1:500 | 1:500 |
| Minimum deposit | $250 | $250 | $250 |
Etofx Markets Fees
The EUR/USD spreads for standard, premium, and VIP accounts are 1pips, 0.8pips, and 0.6ips respectively. In addition, Etofx Markets requires a commission of $3.
Leverage
Etofx Markets offers the highest spread of 1:500, which means both gains and losses are expanded 500 times.
Trading Platform
Etofx Markets supports web-based trading platforms: MT4, cTrader, and WebTrader. MT4 and cTrader also support the desktop version. Even so, the version available from Etofx Markets is not flexible enough and lacks a mobile version.
| Trading Platform | Supported | Available Devices |
| MT4 | ✔ | Web, Desktop |
| cTrader | ✔ | Web, Desktop |
| WebTrader | ✔ | Web |
Deposit and Withdrawal
Minimum deposit is $250. Etofx Markets provides various payment methods: credit/debit cards, bank wire transfers, eWallets, and cryptocurrencies. The processing time is that credit/debit cards are processed immediately, while eWallets and cryptocurrencies require 1-3 working days. In addition, bank wire transfers need 3-5 working days to arrive.
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