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eFX Markets is a forex broker located in Saint Lucia, regulated by the Financial Services Regulatory Authority (FSRA).
eFX Markets accepts clients from all over the world, excluding USA, Cuba, Iraq, Myanmar, North Korea, Sudan.
Forex broker offers the following underlying assets for trading.
| 40+ Currency Pairs | Based on major and minor world currencies. |
| 10 Indice CFDs | Based on baskets of different blue-chip stocks. |
| 2 Metal CFDs | Based on Gold and Silver. |
eFX is a fairly new forex broker that was registered in 2024 in Saint Lucia. Like many other offshore forex brokers, eFX offers high trading leverage, a quick and easy sign-up process, and accepts Bitcoin (BTC) for customer deposits and withdrawals.
The trading platform eFX supports is MetaTrader 5 (MT5), known as the successor of the wildly popular MT4. Having been around since 2010, MT5 is already a very well-known platform in the forex trading community, and it remains popular to this day. Among the key reasons for its popularity is the very large built-in marketplace for algorithmic trading strategies and technical indicators. This means that there are opportunities both for traders who want to utilize these strategies, and for developers who want to earn extra income from selling indicators and strategies they have developed.
As usual, MT5 is available in its standard downloadable version for Windows computers, in addition to a web version for use on any type of computer. Further, eFX also provides access to the MetaTrader mobile app for Apple and Android for those who want to trade on the go.
Unfortunately, eFX only has a very limited selection of trading instruments. At the time of this writing, the offering included some 40 major and minor forex pairs, 10 large global stock indices, as well as gold and silver. Popular assets like stocks, crypto and most commodities are, in other words, not available here. What this means is that eFX perhaps could work as a broker for traders who only stick with forex anyway, but those looking to also trade other assets will quickly find out that there are better brokers out there.
In terms of account types, there are five choices with this broker:
– Standard, with spreads from 1.3 pips and commission-free trading. Minimum deposit: $200
– Silver, with spreads from 1 pip and commission-free trading. Minimum deposit: $1,000
– Gold, with spreads from 0.6 pips and $7 commission per lot. Minimum deposit: $5,000
– Platinum, with spreads from 0.2 pips and $5 commission per lot. Minimum deposit: 10,000
– Islamic (swap-free), with spreads from 2 pips and commission-free trading. Minimum deposit: $2,000
Trading accounts with eFX can be funded with either bank wire transfer, Visa and MasterCard, or Bitcoin (BTC). Out of these methods, Bitcoin is the fastest and cheapest option, with transaction times of between 10 minutes and 1 hour, and no fees charged by the broker.
To reach eFX's customer support team, traders can use the live messaging function on the website, send an email, or call the UAE phone number listed on the “Contact Us” section of the website. Unfortunately, there is no information available about the support team's working hours, which makes us doubt that 24 hour support is available here.
In conclusion, we believe eFX has some potential to attract traders who are looking to trade with high leverage on the MT5 platform. In particular, the broker has a fairly strong offering when it comes to forex trading. However, it is lacking in several other respects, and for example offers far fewer trading instruments than most other forex brokers we have reviewed here on FX-List.
