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DefcoFX is a forex broker located in Saint Lucia, regulated by the Financial Services Regulatory Authority (FSRA).
DefcoFX accepts clients from all over the world, excluding some countries present on the FATF and EU/UN sanctioned lists.
Forex broker offers the following underlying assets for trading.
| 40+ Currency Pairs | Based on major and minor world currencies. |
| 2 Crypto Pairs | Based on Bitcoin. |
| 11 Indice CFDs | Based on baskets of different blue-chip stocks. |
| 4 Metal CFDs | Based on Gold, Silver, Platinum, Palladium. |
| 2 Energy CFDs | Based on Crude Oil (WTI, Brent). |
| 50+ Stock CFDs | Based on shares of top-rated US companies. |
DefcoFX is a relatively new forex broker that was set up in 2024 and registered offshore in Saint Lucia. The broker offers some of the highest leverage in the industry with up to 1:2,000, and accepts clients from most countries in the world except some from the FATF and EU/UN sanctioned lists.
One notable thing about DefcoFX is the very large section of its website it has dedicated to market analysis and buy and sell recommendations based on certain technical indicators. Using oscillators and moving averages taken from the charting platform TradingView, DefcoFX will tell traders whether to buy or sell a range of assets, all tailored to each trader's preferred time frame. In addition, the website also contains things like market heat maps and watchlists designed to make traders' jobs easier.
The trading instruments offered by DefcoFX includes all of the most commonly traded forex pairs and stock indices, as well as more than 50 single stocks listed in the US, a handful of commodities, and a few crypto pairs. The selection of instruments is, in other words, a bit limited, although it does cover the basics that most traders are looking for.
At the time of this writing, the only trading platform supported by DefcoFX is MetaTrader 5 (MT5). This is a very popular platform among retail forex traders, developed and released by the Russian firm MetaQuotes Software in 2010 as the successor to the wildly popular MetaTrader 4 (MT4) platform. As usual, the MT5 platform can be used as a standard desktop platform for Windows or Mac computers, as a web version for use on any type of computer, and as a mobile app for Apple and Android devices.
In terms of trading accounts, DefcoFX has a fairly straightforward offering with a basic Silver Account and a more elite Gold Account.
The Silver Account can be opened for a minimum deposit of just $50, while the Gold Account requires a minimum deposit of $1,000. Interestingly, both account types offer spreads from 0.5 pips and commission-free trading. The main difference between them is therefore that only the Gold Account allows for trading in large volume, with an unlimited number of lots per order. On the Silver Account, on the other hand, a maximum trading volume of 2 lots per order is allowed. Still, it is worth noting that the 1:2,000 leverage is only allowed on the Silver Account, while the Gold Account's leverage is capped at 1:500.
Trading accounts with DefcoFX are funded primarily through crypto, with the broker accepting Bitcoin (BTC), Ripple (XRP) and Tether (USDT) as its preferred cryptocurrencies. For traders who prefer traditional payment methods, the e-wallet service Perfect Money is currently the only option.
With DefcoFX, support is available from Monday to Friday, 7 AM to 2 PM UTC. The team can be reached via live chat on the website, Skype or email. Unfortunately, the broker has not published any direct phone numbers to its support team that clients can use.
All in all, we believe DefcoFX has an interesting offering that could be worth keeping an eye on for traders who want high leverage on the MT5 platform. However, those who are looking for a wide selection of trading instruments, particularly crypto and stocks, may find that the selection from this broker is too limited. Still, given that the broker is such a new player in the industry there is still time to improve in these areas.
Online support chat takes up to 2 min for a response, I need quicker answers. But apart from that, it's been good.
If I could travel back in time, I would still open a trading account with Defco. For me, the most favorable and comfortable conditions are here. And this is exactly what I want from a forex broker.
I am trading with Defcofx as this company gives me the following:
- Relatively low spreads
- Democratic starting costs for a regular account (silver account)
- License of financial institutions
- MT5 as I think it will focus on the advancement of features
That said, I would be excited about more flexibility with payment methods. Anyway, keep it up!
Anyone who wants to become a trader can start here. The initial deposit is only $50. And Defco really has both loyal and favorable conditions.
Pretty generous leverage is available with Defco, up to 1:2000. Quite tempting, although everyone says that this ratio is insanely high :D
Very fast execution of orders! Never felt anything like this. Data centers in London/NY paying off!
I am pretty satisfied with the spreads I get on this platform. I use the Gold account with raw spreads. Plus number one, the execution is amazing. Another plus, there are no additional trading fees except for the spreads. Check the trading terms and conditions for the Gold account type yourself... it's lit.
Well, I gotta be honest here, defcofx leverage is one of the highest I've ever used, up to 1:2000 is a lot really. For those who can use it corectly, it's a super advantageous opportunity.
