EuropeFX Review

Review

EuropeFX is a Cyprus-based Forex broker that has been in operation since 2013. The broker deploys the straight-through processing (STP) order execution model. Besides offering the MT4 trading platform and its lightweight HTML5 webtrader, EuroTrader 2.0, this broker supports social trading through Mirror Trader, and automated trading via RoboX. TipRanks and Trading Central enhance research, in a statement that EuropeFX attempts to grant its traders a competitive edge. This broker maintains a secure trading environment, has over 300 tradable assets, and holds a second office in Germany besides its Cypriot headquarters.

EuropeFX Review landing page

EuropeFX Highlights
🗺️ Headquarter Cyprus
⚖️ Regulations CySEC
💰 Type of broker ECN/STP
💰 Minimum Deposit $200
💰 Maximum Leverage 1:30
📊 Type of platform MetaTrader 4, Proprietary platform, Web-based
💳 Deposit with credit card Yes
👛 Depositing with wire transfer Yes
🎮 Demo account provided Yes
🛍️ Instruments traded CFDs, Commodities, Metals, Stocks, Oil, Gold, Indices
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Regulation and Security

MAXIFLEX LTD, the owner of EuropeFX, is a Cyprus Investment Firm (CIF), authorized by the Cyprus Securities and Exchange Commission (CySEC). As such, it is in compliance with the EU’s Financial Instruments Directive 2014/65/EU or MiFID II, and the EU’s 5th Anti-Money Laundering Directive. Client deposits remain segregated, negative balance protection exists, and the Investor Compensation Fund (CIF), per EU Directive 2014/49/EU, protects deposits up to a maximum of €20,000. Cross-border regulation across EU member countries applies. The high European regulation comes at a price, however – account conditions such as leverage and bonuses offered may not be as enticing as those offered by other brokers. Nevertheless, the security of the brokerage should make traders feel secure, and the offerings are certainly on-par with those of other European brokers.

EuropeFX maintains a secure trading environment.

EuropeFX Review regulatory info

Additional registration exists in nine countries across Europe.

EuropeFX Review EU registry info

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Fees

Spreads and commission form the pricing structure deployed by EuropeFX, but this broker does not feature a detailed list of all assets and associated costs. The website denotes a minimum spread of 0.1 pips, while a PDF references a 7% commission for equity CFDs. Consequently, we didn't get a full sense of the spreads during our EuropeFX review, and we were unable to test multiple assets to confirm.

Swap rates on overnight leveraged positions apply and corporate actions such as dividends, mergers, and splits, will impact equity and index CFDs. Third-party deposit and withdrawal costs exist though the broker does not charge any deposit or withdrawal fees. A monthly inactivity fee of €50 (or a currency equivalent) after three months of dormancy, which is not uncommon for most brokers.

EuropeFX denotes a minimum spread of 0.1 pips.

EuropeFX Review minimum spread

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What Can I Trade

EuropeFX's traders have access to 50 currency pairs, and 15 commodities, but six cryptocurrency pairs. EuropeFX also maintains 111 equity CFDs and 13 index CFDs, for a total of 195 assets across five classes. Two distinct equity sectors, cannabis and pharmaceuticals, are singled out by EuropeFX, which makes sense given the industries' popularity during the time of this EuropeFX review. Most new retail traders will find the asset selection at EuropeFX more than adequate.

Europe FX offers traders 195 assets across five classes.

EuropeFX Review asset list

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Account Types

EuropeFX deploys a rather complex account structure consisting of five account types. Like many brokers, EuropeFX incentivizes its clients to deposit more by offering better trading conditions to higher depositors. The minimum deposit to trade at EuropeFX is $200, a very reasonable sum. A deposit of $10,000 provides traders with access to all usable account features. Fortunately, traders will all account types are granted spreads from 0.1 pips, but CySEC restricts the maximum leverage to 1:30. A three-tiered VIP program exists, based on trading volume, and offers better trading conditions. Qualifying clients may ask for an upgrade to a professional account, which grants the same trading conditions as non-EU brokers.

The account structure at EuropeFX is fairly complex.

EuropeFX Review account structure

A volume-based VIP program exists.

EuropeFX Review VIP program

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Trading Platforms

The out-of-the-box MT4 trading platform is certainly the best choice at EuropeFX. At the time of this EuropeFX review the brokerage did not offer the plugins that can truly unlock the potential of the platform. A lightweight HTML5 webtrader, labeled EuroTrader 2.0, is somewhat inferior to the MT4 webtrader, while a mobile version, eFXGO!, is promoted as a superior version. The introduction of all three trading platforms is brief but sufficient enough to gauge that the MT4 platform, even in the form offered, delivers the best solution at EuropeFX.

Traders have the familiarity of MT4 available at EuropeFX.

EuropeFX Review MT4 platform

The webtrader EuroTrader 2.0 poses an alternative to the MT4 webtrader.

EuropeFX Review webtrader info

A mobile-only trading platform, eFXGO!, competes with the MT4 mobile application.

EuropeFX Review eFXGo info

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Unique Features

The two primary assets at EuropeFX consists of Mirror Trading and RoboX from FinTech firm, Tradency. While the former support social trading, the latter enhances automated trading. Mirror Trading requires minimal set-up, and after setting parameters, functions on auto-pilot. It is gaining popularity among retail asset managers. RoboX represents an excellent tool for traders to deploy their automated trading strategies. The adaptive algorithm sorts through thousands of available ones and creates strategy packages based on a questionnaire filled out by the trader. A testament to the success of RoboX was the 2018 addition of it to the Tokyo Commodity Exchange (TOCOM), with the assistance of NTT Data.

Mirror Trading supports retail asset management and social trading.

EuropeFX Review Mirror trading info

RoboX is an excellent solution for automated trading strategies.

EuropeFX Review RoboX info

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Research and Education

EuropeFX offers third-party research and market insight via partnerships with TipRanks and Trading Central, both of which offer highly-respected market coverage. Over 15,000 analysts cover equities at TipRanks, which is summarized in an analyst and consensus forecast, hedge fund activity, and insider transactions. Trading Central offers daily trading signals, available via the MT4 plugin directly from the trading platform, or via the widget hosted on the website.

Supporting the excellent third-party research is in-house generated content published under Market News, which consists of eight sub-categories, Market Review, and the EuropeFX blog. The published analysis and market commentary consists of written content and charts, and the overall presentation is of good quality. EuropeFX clearly provides an excellent suite of research and trading signals to its traders.

TipRanks grants traders excellent coverage of the equity market.

EuropeFX Review TipRanks

Trading Central provides trading signals directly in the MT4 trading platform.

EuropeFX Review Trading Central MT4

EuropeFX publishes in-house research under three sections on their website, with the eight-section Market News category the most comprehensive source.

EuropeFX Review Market News categories

New traders have access to a comprehensive video educational library, which consists of six primary subjects, divided into multiple sub-categories, all of which feature numerous lessons. The overall implementation of this course is excellent and a must-watch for traders who lack the knowledge to manage live portfolios. According to the website, live daily webinars, hosted in both English and German, will cover a wide range of topics and enhance the educational value at EuropeFX. These webinars include live trading sessions; at the time of this review, however, only German webinars appeared in the schedule. The offering of three eBooks round out the educational content at EuropeFX, though mandatory registration is required in order to obtain them.

The video library represents an excellent educational tool.

EuropeFX Review video library

The daily webinar schedule, at the time of our EuropeFX review lists only sessions in German.

EuropeFX Review webinar schedule

EuropeFX offers three eBooks for which registration is mandatory.

EuropeFX Review eBooks listing

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Customer Support

Customer support hours are not provided, but is primarily available via e-mail, web form, phone, or live chat. An FAQ section answers the most common questions. Traders may additionally submit documents through WhatsApp, Viber and Telegram; per the EuropeFX website, customer support does not respond to queries on WhatsApp or Viber.

Customer Support is easily accessible via several channels.

EuropeFX Review customer support

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Bonuses and Promotions

At the time of this review, EuropeFX neither provided bonuses nor granted special promotions, aside from the aforementioned VIP program, which is based on trading volume. A lack of bonuses is in-line with European regulation.

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Opening an Account

An online application form processes new account applications, and per EuropeFX, it takes just 36 seconds to complete. A Google or Facebook ID can be used to complete this process even faster. Account verification is required to comply with regulatory mandated AML/KYC stipulations; this step is generally satisfied with a copy of the trader’s ID and one proof of residency document. Given full compliance by EuropeFX with its regulator, traders may trust this broker with their information.

The account opening process is standard for the industry.

EuropeFX Review account opening procedure

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Deposits and Withdrawals

EuropeFX supports bank wires, credit/debit cards, Skrill, Sofort, iDeal, giropay, SafetyPay, TrustPay, Euteller, Przelewy, WorldPay, and MyBank. While this broker waives all deposit fees, a €25 flat fee (or a currency equivalent) exists for withdrawals, an elevated cost by any standard but especially exorbitant for small retail traders. Per AML guidelines, the name on the trading account and payment option must be identical. EuropeFX lists processing times between one and five business days for all deposit and withdrawal methods.

A €25 flat fee for withdrawals exists.

EuropeFX Review deposit and withdrawal info

Traders face processing times of between one and five business days for all types of transactions.

EuropeFX Review withdrawal processing times

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General Information

Company Information

  • Broker's Name : EuropeFX
  • Headquarter : Cyprus
  • Regulation : CySEC

Account Information

  • Type of Broker : ECN/STP
  • U.S. Clients Allowed :
  • Minimum Deposit : $200
  • Maximum Leverage : 1:30
  • Commissions / Spreads : Both
  • Account 1 : CFD
  • Demo Account :
  • Islamic Account :
  • Segregated Account :
  • Managed Accounts :
  • Deposit Options :
  • Withdrawal Options :

Instruments Traded

  • ETFs :
  • CFDs :
  • Commodities :
  • Metals :
  • Stocks :
  • Oil :
  • Gold :
  • Binary Options :
  • Indices :

Trading Platforms

  • Type of Platform : MetaTrader 4, Proprietary platform, Web-based
    • Platform Languages :
      • English
    • OS Compatibility :
      • Mac
      • Windows
      • Linux
      • Mobile
      • Web
      • iPhone
      • iPad
  • Trading Signals :
  • Charting Package :
  • Market Analysis :
  • Chart Trading :
  • Automated Trading :
  • Scalping :
  • Hedging :
  • Mobile Alerts :
  • E-mail Alerts :
  • Trailing Stops :
  • Guaranteed Stop Loss :
  • Guaranteed Limit Orders :
  • Guaranteed Execution :
  • One-click Execution :
  • OCO Orders :
  • Interest on Margin :
  • Web-based Trading :
  • Mobile Trading :

Customer Support

    • Website Languages :
      • English
      • German
      • Dutch
      • Swedish
  • Support Hours : Unspecified
  • E-mail Support :
  • SMS Support :
  • Chat :

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FAQ

What is EuropeFX?

EuropeFX is a CySEC regulated CFD broker, in operation since 2013, out of its Cypriot and German offices.

Is EuropeFX a con?

While pricing transparency must be improved, EuropeFX is not a con.

Is EuropeFX safe?

It remains compliant with CySEC and, therefore, can be categorized as a safe broker.

What is the EuropeFX withdrawal fee?

An excessive €25 (or a currency equivalent) flat fee applies to all withdrawals.

Does EuropeFX support automated trading?

Yes, the MT4 trading platform and the RoboX service fully support automated trading solutions.

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Summary

EuropeFX has catered to traders since 2013, marking it as a relatively young CFD broker, with a focus on new EEA traders (excluding the UK). The broker maintains full compliance with its regulator, CySEC, and maintains its headquarters in Cyprus, plus holds a second office in Germany. Traders have access to the most basic MT4 trading platform and the EuroTrader 2.0, an HTML5 lightweight webtrader that is inferior to the MT4 equivalent. The asset selection is adequate for most new retail traders, but advanced ones will determine it limited. EuropeFX deploys the straight-through processing (STP) order execution model, granting clients a conflict-free trading environment.

Mirror Trading and RoboX, provided by FinTech firm, Tradency, represent two essential assets for social traders and automated trading solutions. Manual traders are supported via equity research from TipRanks and trading signals from Trading Central, enhancing third-party partnerships favored by EuropeFX to ensure that a competitive trading environment exists. The combination offers traders excellent auxiliary trading services, while EuropeFX adds in-house research and market commentary daily.

New traders have access to a comprehensive educational section, primarily rendered via videos. The in-depth structure allows novice traders to acquire an excellent base-knowledge from where they can grow. Daily webinars, regrettably only in German at the time of this review, enhance the educational value. EuropeFX deploys an unnecessarily complicated account structure but features a three-tier VIP volume-based program to lower overall trading costs.

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