EverFX Trading Account – Review, Types, Process, Benefits, Charges & moreLast Updated Date: Apr 27, 2022
Online trading has become the contemporary trend for investors as it brings a lot of ease and efficiency while trading and realizing the desired goals.
This article is exclusively for the investors looking to open a trading account with EverFX and willing to know more about the offerings and charges of each of the EverFX trading account in detail.
Here, we will discuss each aspect of the EverFX various trading accounts, including its types of trading accounts, about it and its benefits, charges of trading accounts, set up and trading process, FAQs, and so on.
EverFX Trading Account and Benefits
EverFX is a globally known online trading firm that provides six different types of assets with more than 130 trading instruments to its traders.
It is a company founded in 2016 with its headquarter in Limassol, Cyprus.
It is regulated by CySec, CIMA, and FSA and offers four different types of trading accounts to cater to the requirements of various investors.
EverFX provides trading in a wide range of financial markets such as commodities, cryptocurrencies, forex, and bitcoins in all of its trading accounts.
The trading accounts of the EverFX online trading platform comes with a collection of benefits.
The first and foremost advantage is that it offers the three most acknowledged platforms, including MT4, MT5, and web trader.
It also provides Automated trading tools, trading central, PAMM, Social trading, and VPS trading.
At the EverFX platform, the account holders can opt for an Islamic account upon request.
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EverFX Trading Account Charges
|Trading Account Charges|
|Spread||spreads start at 1.5 pips||starts at 1.2 pips||spreads start at 0.8 pips||Fixed|
EverFX offers four different types of trading accounts as Entry account, Standard account, Premium account, and VIP account, and each of the accounts involves different charges depending upon the trading tools and advanced features offered in each of the accounts.
The Entry account is the most economical account that involves the lowest initial deposit amount of $250. The spread is 1.5 pips with maximum leverage of 500:1.
The Standard account is the second economic account that involves low trading fees as compared to the Premium account and VIP account.
The maximum leverage offered for a Standard account is 500:1, with the initial deposit required to be paid at the time of opening the account is $ 2500.
A premium account, as the name suggests, comes with high brokerage charges and involves a minimum deposit amount worth $ 10,000 that is to be paid by the account holder initially at the time of opening the account.
The spread is much tighter and starts at 0.8 pips with leverage of 400:1.
VIP account involves a much higher initial deposit amount of $ 50 000 with the commission of $2 to $ 6 per lot. It offers a tighter spread as low as 0.0 pips with leverage of 200:1.
Types of EverFX Trading Account
|Types of Trading Account|
|Trading Desk Type||NDD|
|Suitable for beginners||Yes|
|Suitable for professionals||Yes|
|Suitable for scalping||No|
|Suitable for daily trading||No|
|Suitable for Weekly trading||No|
|Suitable for swing trading||No|
EverFX is an online brokerage firm that has come up with a range of trading accounts with various features and advanced tools suitable for different types of account holders.
In total, there are four types of trading accounts, EverFX offers including- Entry account, Standard account, Premium account, VIP account. Let’s discuss and compare all the trading accounts.
Entry account is mainly created for the new traders who need to polish their trading skills and gain more experience.
The maximum leverage offered by the broker to Entry account holders is 500:1 with a bonus of up to 30%. The account holders can also receive an introductory call from the account manager.
This account is one step ahead of the Entry Account and offers a tighter spread starting from 1.2 pips.
The Standard account holders get a bonus of up to 50% along with perks like trading central and a personal account manager.
Premium account is intended for seasoned traders and requires the minimum amount of $10,000 to be deposited initially while opening the account.
The premium account comes with some extra features, including trading central, a personal account manager, a 100% bonus, and sessions with a senior market analyst on a monthly basis.
VIP Account- only professional traders with expertise opt for a VIP account.
The VIP account comes with some of the exciting added features, including trading central, a personal account manager, exclusive strategies, and sessions with a senior market analyst on a weekly basis.
EverFX Account Opening and Trading Process
Account opening with EverFX involves some steps, such as-
Visit the website of EverFX and go to the “open my Account” option.
You will see the drop-down option where you will get several options for trading accounts. Click on the most preferred one and proceed further to follow the steps of opening the account.
Before opening the account, read the particulars given describing charges of each of the trading accounts, ascertain your investment budget, and then decide on which account to choose.
Now, after this process, you will see a pop-up form, fill in all the details and submit it for further proceedings.
The next step is the online application. The application requires all the necessary information about you and your business experience. Provide accurate information and submit it.
The next step is the EKYC of your trading account, in which you have to present your documents like your PAN card, passport, bank statements, and all other significant documents that ensure your identity and reflect your financial status.
You may also have to submit scanned copies of your passport size photograph.
At last, you have to fund your account with the required initial deposit and other brokerage charges that need to be paid while opening the trading account with EverFX.
After following the entire process, your account will be opened within 48 hours.
As soon as your account is opened, you will get login credentials on your email id.
Use those credentials to log in to your personal trading account and examine the account and its various tools, make your trading strategies, decide on your financial instruments, and start executing your trading practices.
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EverFX Trading Account – Features
|Social Trading / Copy Trading||No|
|Guaranteed Stop Loss||No|
|Guaranteed Limit Orders||No|
|Guaranteed Fills / Liquidity||No|
|Trading From Chart||Yes|
|Interest On Margin||No|
|Other Trading Features||No|
When you opt for opening a trading account with EverFX, you open your doorway to get many of the exciting trading features offered by this broker, including
It is one of the most advanced trading features that come with an array of technical indicators that are used while trading in different types of financial instruments like ETFs, bonds, commodities, forex, indices, and shares.
Trading central is mainly used for daily trading strategies and decisions.
It is another essential trading feature wherein the investors trading in forex can use a virtual computer that functions independently as a real computer and ensures complete safety, security, and flexibility with their trading activities.
EverFX serves as a complete educational academy to its traders with its vast collection of audiovisual tutorials and trading vocabulary.
The traders can pick webinars, learning courses, free courses, market updates, and the latest blog post from professional trading experts. It also provides an economic calendar to its traders.
It is that trading feature wherein the user can link the brokerage account to the screening software reliably to get the actual prices.
Trading from the chart
The feature provides different types of trading charts such as market profiles, candlesticks, bar charts, line charts, etc., that allow the traders to access the information displayed on their screen about when to be entering or exiting the position.
Apart from these trading features, At EverFX, the users also get OCO orders, Trailing Stop Loss and Trailing Take Profit, Hedging, Newsroom, and market analysis along with efficient multilingual support and assistance.
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EverFX Trading Account – Conclusion
Here, you will get a clear idea of all the EverFX trading accounts, including their different aspects, charges, and offerings.
It can be concluded that the EverFX trading platform is a progressive trading platform that offers all the advanced trading tools and services to its traders along with the latest and advanced trading platform, including MT4, MT5, and Web Trader.
It is advised that you comprehend the article vigilantly to ascertain the best investment options for you that maximum yield gains for you.
EverFX Online Trading – FAQs
Here is the list of FAQs related to the EverFX online trading account:
Does EverFX provide Online Trading?
Like all other platforms, EverFX also provides online trading.
You can trade via the live trading account of EverFX that you can operate online itself and do not require to download the EverFX trading app.
Live trading account is mainly for active traders who have expertise in trading with live prices.
What are the Commission Charges in EverFX?
EverFX offers four different trading accounts and out of which it does not imply commission charges on all the trading accounts.
Standard account, Entry account, and Premium account are free of commission charges, whereas VIP trading accounts involve commission charges.
Though, in other accounts also, commission charges may be applied depending upon the size of the trade and type of the financial instruments to be traded.
Does EverFX provide Demo account Trading?
Yes, EverFX allows traders to access a demo account to understand the functions of the professional trading account of the platform.
The demo account comes with virtual money worth $ 10,000 that the account holder can use in the real forex market for buying and selling tradable assets and get a practical understanding of trading in the real market without risking their real funds.
Is trading Free at EverFX?
Trading is not free at EverFX.
However, you can trade via demo account with virtual money for absolutely no charges.
To trade with the real trading accounts of the EverFX platform, you need to make the payment of the necessary minimum deposit and brokerage fees required at the time of opening the account.
Do Ever FXprovide Spot Metals Trading?
EverFX provides Spot Metals Trading on spot gold, spot silver, spot silver EUR, spot gold EUR, copper, and spot palladium, along with many others.
What are Spot Metals Trading Charges at EverFX?
Spot Metals Trading charges are not mentioned on the website of the EverFX, but it is noted that the prices are kept competitive and reasonable as compared to other viable trading platforms.
Does EverFX provide Stock Trading?
Yes, EverFX provides stock trading with the MT4 platform.
What is Spread at EverFX?
The spread is varied in each of the trading accounts of EverFX.
The spread for the Entry account is 1.5 pips, the spread for the Standard account is 1.2, the spread for the Premium account is tighter from 0.8, and the spread for the VIP account is as low as 0.0 pips.
Is EverFX safe for trading?
EverFX is a safe trading platform regulated by CySEC (Cyprus Securities and Exchange Commission), CIMA (Cayman Islands Monetary Authority), and the Seychelles Financial Services Authority (FSA).
Since it is regulated by the top-notch regulatory authorities, it ensures the complete safety of the traders and their trading accounts.
Do EverFXprovide Trading Tips?
TIPS stands for Treasury Inflation-Protected Security (TIPS) which the EverFX trading platform does not provide.
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