Fondex Review

Review

Fondex is an online Forex and CFD ECN/STP brokerage launched in 2010. They are headquartered in Cyprus and are regulated by CySEC, in common with many similar brokerage firms who choose a domicile in the Republic of Cyprus.

Fondex offers traders the opportunity to trade an extremely wide range of instruments wrapped as CFDs (Contracts for Difference), offering over one thousand tradable instruments across six asset classes, even including a selection of Exchange Traded Funds (ETFs). In addition to ETFs, Fondex offer trading in over 80 Forex currency pairs and crosses (including cryptocurrencies), over 900 individual stocks and shares, 15 major global equity indices, the commodities of crude oil, natural gas, and several precious metals. Maximum leverage (on Forex) is restricted to 30 to 1 by ESMA regulations.

Fondex Broker Review

Accounts

Fondex differs from most brokers in offering clients a hybrid execution model of ECN/STP, allowing the opportunity of fast execution and natural spreads. A choice between two account types is offered: a Standard Account, or a Swap-Free Account. The Swap-Free Account is an “Islamic Account”, which removes the possibility of interest deductions or payments overnight, in accordance with the mainstream interpretation of Sharia law. In other respects, it is identical to the Standard Account.

The Standard Account offers variable spreads from a minimum of 0, with no commissions on Shares, Indices, ETFs and Cryptocurrencies. Trades in other asset classes incur commissions of 0.0035% on the nominal values traded. Fondex claims to offer a daily average spread of 0.1 pips on the benchmark EUR/USD currency pair. As the standard commission equates to 0.35 pips, this is an effective round-trip fee of 0.63 pips, which is very competitive if true, especially for a brokerage which requires no minimum deposit.

All accounts offer a minimum trade size of 1 micro-lot (0.01 full lots).

Scalping and hedging are allowed, and automated trading is possible. This combination of advantages is something that is increasingly hard to find.

There is no choice of trading platform: all clients must use cTrader, either as a program or as its web-based or mobile versions.

Fondex Broker Review

Features

 

Manual traders may hedge, scalp, swing or position trade in over one thousand tradable instruments with no restrictions, at relatively low cost. The platform is also ideal for copy traders, strategy providers and algo traders or for clients who want to combine manual, copy and automated trading at the same time. An extremely wide range of assets are offered for trading, especially within the Forex universe.

Fondex, through the cTrader platform, provides the option of copy trading, and in turn allows traders the chance to further monetize their successful trading by registering as a Strategy Provider and choosing how to charge. Performance fees, management fees, and volume-based commissions are all options.

Automated trading may be undertaken through a dedicated capability of the cTrader platform. Fondex offer a selection of cBots with a range of trading strategies.

Fondex Broker Review

Education

Fondex offers no education section on its website. This may be interpreted as refreshing, as too often brokerages feel that this is a gimmick they must provide, throwing together some hastily arranged material which will allegedly turn novices into competent traders almost overnight. Fondex make no such claim but focus instead on assets, costs, and execution.

Fondex offer their clients daily technical analysis and market insights from Trading Central and trades can be placed this way with a single click as indicated in the screenshot below:

Fondex Broker Review

Bonuses and Promotions

Bonuses and promotions have been prohibited under European Union regulations, so are neither offered nor available to account holders.

Deposits/Withdrawals

Depositing funds into a Fondex account is an easy and secure process. Both may be made using a few different methods, including credit cards, debit cards, bank transfer, Neteller, and Skrill. Withdrawals are generally made through the same channel that deposits have been made through.

Customer Support

Customer support is based in Cyprus, offering business hours support in a range of languages.

Conclusion

Fondex has a well-rounded and professional offering for traders looking to trade a very wide range of assets in the form of CFDs, particularly in Forex, by use of an ECN/STP execution model. Fondex could be an especially attractive broker for clients with relatively small deposit size who wish to benefit from ECN execution and a low spreads / commissions model. Higher-volume traders may negotiate volume-based commission discounts.

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Features

In terms of features, the stand-out strengths of Fondex’s offering are:

  • An extremely wide range of instruments available for trading: over one thousand instruments across the asset classes of Forex currency pairs, global equity indices, gold, silver, crude oil, natural gas, ETFs, and individual stocks and shares.
  • Competitive spreads, especially for small depositors.
  • ECN/STP execution model.
  • Choice of Swap-Free account types (Islamic account).
  • Negative balance protection.
  • Regulated by a major industry center (CySEC).
  • Fondex is a well-established firm with a reputation earned reputation to protect.
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Platform

Fondex uses the cTrader, which is an innovative ECN (Electronic Communication Network) platform, designed specifically for FX trading and CFDs on spot gold and silver. cTrader is powerful and user-friendly using proven technology that can enable you to trade at a higher level.

cTrader enables clients to directly access a full range of liquidity. Accessing such liquidity providers ensures clients receive the lowest spreads and best price available in the market.

Features in the cTrader platform include Level II pricing, detachable charts, automated trading through a dedicated platform, next generation user interface and charting techniques and extensive back testing facilities. The newly updated cTrader gives traders access to manual, copy and automated trading from the same interface. The Fondex cTrader has many advantages over other platforms: Live sentiment indicator, 26 standard & 27 tick timeframes per chart type, Advanced Protection, Smart Stop Out, drag & drop trading on the chart, ability to close your positions with one click and double or reverse your positions with one click.

cTrader is a more recent platform in Forex trading. Access is similar to MetaTrader 4, including Apple compatibility, but there are a few additional bells and whistles that make it worth your while to test out on their free demo system. The latest technology in 128-bit SSL protection routines are utilized to encrypt all trading session and personal data, providing peace of mind from any unexpected compromise from the hacking community.

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General Information

Company Information

  • Broker's Name : Fondex
  • Headquarters : Cyprus
  • Regulation : CySEC, FSA

Account Information

  • Type of Broker : ECN/STP
  • U.S. Clients Allowed :
  • Minimum Deposit : $0
  • Maximum Leverage : 1:30
  • Commissions / Spreads : BOTH
  • Account 1 : Standard
  • Account 2 : Swap-Free
  • Demo Account :
  • Islamic Account :
  • Segregated Account :
  • Managed Accounts :
  • Institutional Accounts :
  • Deposit Options :
  • Withdrawal Options :

Instruments Traded

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

Trading Platforms

  • Type of Platform : cTrader
    • Platform Languages :
      • English
      • Dutch
      • Greek
      • Malay
      • Thai
      • Bahasa
      • Swedish
      • Polish
      • Hungarian
      • Portuguese
      • Russian
      • Spanish
      • Arabic
      • Italian
      • French
      • Turkish
      • German
      • Japanese
      • Chinese
      • Other
    • 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
      • Spanish
      • Arabic
      • Italian
      • French
      • Chinese
      • Greek
  • Support Hours : 24/5
  • E-mail Support :
  • SMS Support :
  • Chat :
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Broker Comparison

Fondex vs. Pepperstone

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User Reviews

Did you have a good experience with this broker? A bad one? Tell our team and traders worldwide about your experience in our User Reviews tab. Your email address will not be posted.

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate, irrelevant or promotional links will also be removed.



11 User Reviews
Robert Gregor

When I start trading with a new broker, the first thing I pay attention to is the possibility of a quick and hassle-free withdrawal of money. I have been trading for a long time, so I have my own proven tactics that allow me to make good profits. And it is very important for me that the money that I earn is easily credited to my bank card without additional obstacles and lengthy correspondence with the support service. When using a bank transfer, the money was credited to my account within 40 hours, as indicated on their website. The minimum withdrawal amount is 20 euros, which is also pleasing. I want to draw your attention that cTrader is good trading platform. Probably, if we compare this trading platform with MT4, then we can note the preservation of all trading functionality MT4 with easier use of cTrader. With this broker, I was pleased with the absence of a commission when withdrawing and crediting funds, as well as instant processing of money transfer for Bitcoin Wallet - BTC.

Tormi Kallas

I chose this company for the commissions, which are not too high here and allow me to be more proactive. Of course, it took some time to get rid of some habits I gained from MTs, but the broker’s benefits weighed. For example, I appreciate the possibility of trading cryptos without commission in addition to this good platform. It means that you can use a bitcoin wallet when depositing or withdrawing funds - and this is beneficial for those who decide to work with cryptocurrencies. Hopefully, in the future, Fondex will get more half-hearted, as it deserves it!

Amrit Jack

The broker offers affordable trading conditions. I should say right away that this is the first broker where I haven't seen any restrictions on the minimum deposit size. You can deposit even 10 dollars to your account. No one will forbid you to trade. But 10 dollars is not enough to make trades. Because there isn't such high leverage here. But still, the absence of minimum deposit restrictions is very encouraging.

Arnold Brandt

There are a lot of exciting tools for trading in this company. For example, I like the possibility of trading with robots and built-in technical analysis. It's just on the cTrader platform. Everything else is also up to par.

Minttus Pikkarainen

This broker offers relatively low spreads on its financial instruments. Besides this, digital coins and indices can be traded without commission. The broker offers a unique trading platform - cTrader. After I tried it, I understood that it’s much better than Metatraders. It allows to quickly shift between trading accounts. The terminal offers a more detailed picture of the market due to a larger number of timeframes. The developers strived to make it intuitive and they did it. On the other hand, some traders may lack Metraders because the company doesn’t offer any other app except for cTrader.

Leon Hackl

You know, this broker for me as Toyota Corolla among cars. It's convenient; the platform works quickly and without failures. And at the same time, the trading here is inexpensive in terms of costs. Like Corolla, the company's "engine" is of very high quality and almost unbreakable. I mean the platform itself, servers, and the quality of order execution.

Siro Moretti

This brokerage has some pros, but also cons that make me to be not so positive about it. Pros: fully regulated with CySEC. I was trading (or have friends that was trading) with almost 10 CySEC regulated brokers, so that regulator is the one that deserved my full trust, as I never faced a bad company under its regulated. Also, that brokerage offers not only manual, but also automated and copy-trading, that's nice feature for those, who don't have time/enough skill to trade on his own. However, brokerage also has some cons: - cTRADER only, there's no MT5 or MT4, so if you got used to that platforms, you would need to re-learn - Lack of education. There's almost no free courses or any other stuff for learning trading from scratch and that can be a strong disadvantage for beginners

Elon Bergqvist

When I was looking for a brokerage, I paid attention to its feedback in the web. I liked the reviews in the web and the trading conditions seemed fair enough. The broker has a CySEC license, so I don't have to worry about the reliability of the brokerage, which was also very important for me. So far I'm rather pleased with what I've got here. I think that if there are no incidents and you don't see any troubles with the broker - that's good enough in this business, isn't it )

Pascal Pinard

One time I just got tired from MetaTrader and have decided to try something else. This program has never been convenient for me, so, I start to study forums to find another solution. At one of them I read about cTrader. Topic starter praised it for its: 1. convenience; 2. user-friendly interface; 3. a lot of features for traders. But it turned out there are not so many brokers which offers this platform to their customers. Imagine my surprise when I found not only cTrader here, but also great trading conditions I have never seen before.

Paul Dawson

I fully agree with every word of this article, especially with its advantages and disadvantages. Spreads are not just competitive - they are one of the best spreads among cTrader brokers. Regarding the impossibility to choose another platform, I would not consider it as a disadvantage. As far as I know, it helps to better optimize trading and reduce slippage. As for training, I fully agree, I think that Fondex should invest money and forces in creating high-quality training content. If Fondex had a training center, I would even say that this broker is one of the best. Unfortunately, so far, there is something to improve.

Mendy Claeys

I like that Fondex has Swap-free accounts. These accounts are sometimes called Islamic, but all of us know that all traders use it, not only muslims, as that's just more convenient. ECN/STP execution type is also good, as it helps combine advantage of market access with low min deposit and no comissions.

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