EuropeFX review and ratings

Established 2017
Location Germany Cyprus
Regulation CySEC, BaFin
Offices Limassol, Berlin
Broker type STP
Leverage up to 1:30
Deposit from 1000 EUR
Spreads mid  mid
Platforms Web MetaTrader 4 Specific
Instruments Currencies Crypto Indices Metals Energies Softs Stocks
Funding methods Wire Transfer Credit Cards PayPal Skrill Neteller iDeal Sofort Giropay SafeCharge

Company information

EuropeFX is a forex broker located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).

EuropeFX is also regulated by the Bundesanstalt fur Finanzdienstleistungsaufsicht (BaFin) and has a local office in Germany.

Be aware, the company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.

Availability

EuropeFX accepts clients from all over the world, excluding US, UK, New Zealand, Iran, Cuba, Crimea,‚Äč Sudan, Syria, North Korea and some other restricted jurisdictions.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

50+ Currency Pairs Based on major and minor world currencies.
20 Crypto Pairs Based on Bitcoin, Bitcoin Cash, Ethereum, Cardano, Cosmos, ChainLink, Gnosis, Litecoin, Melon, Monero, Polkadot, Ripple, Augur, Tron, Tether, Dogecoin, Stellar, Tezos, Zcash, EOS.
14 Indice CFDs Based on baskets of different blue-chip stocks.
5 Metal CFDs Based on Gold, Silver, Palladium, Aluminum and Nickel.
3 Energy CFDs Based on Crude Oil (WTI, Brent) and Natural Gas.
7 Soft CFDs Based on Cocoa, Coffee, Corn, Cotton, Orange Juice, Sugar and Wheat.
100+ Stock CFDs Based on shares of US, UK and EU companies.
20+ ETF CFDs Based on exchange-traded funds containing various tradable assets.

Comprehensive review

Registered in Cyprus and regulated by both the European Securities and Markets Authority (ESMA) and the Cyprus Securities and Exchange Commission (CySEC), EuropeFX is a forex broker that serves the European market as well as traders from most other countries in the world. The broker offers trading in a large number of instruments, but only accepts clients who will deposit at least EUR 1,000. Unsurprisingly, this high minimum deposit requirement may be a dealbreaker for some new traders.

A special thing to keep in mind about EuropeFX is that this is one of a few EU-based forex brokers without any registered branches outside of the EU. What this means is that all of the broker’s clients, regardless of where they live, will have to trade according to ESMA regulations, which limits leverage to just 1:30 on major FX pairs. As a result, EuropeFX will most likely not be a very interesting broker to trade with for traders based outside of the EU/EEA area.

Although the focus of this broker is on the EU market, the selection of instruments that can be traded from EuropeFX is definitely respectable. The broker offers instruments from nearly all asset classes, including a good number of cryptocurrencies, more than 50 forex pairs, stocks from a large number of European and US-listed companies, many popular exchange traded funds (ETFs), as well as a selection of commodities. Among the few assets that EuropeFX does not offer, however, are bonds and interest rates, which the broker perhaps should consider adding in order to cater to an even wider clientele.

Looking at the platforms that are available, EuropeFX stands out from many other forex brokers by offering its own web-based trading platform. Known as EuroTrader 2.0, the platform is relatively simple to use, which also means that it does not have the kind of advanced functionality that can be found on for example the MetaTrader platforms. Despite this, EuroTrader 2.0 works well, is built with the popular HTML5 technology, and could be a great option for new people who are trying out trading for the first time.

In addition to the proprietary platform, EuropeFX also offers a mobile trading app known as eFXGO!, as well as the social trading platform ZuluTrade, and the legendary MetaTrader 4 (MT4) platform. Moreover, software add-ons like MirrorTrader and RoboX are also available from this broker to enrich the trading experience even further.

Once signed up with EuropeFX, new clients will be asked to deposit at least EUR 1,000 to qualify for the most basic “Bronze” account. As usual, deposits can be made via either bank transfer, or e-wallets like Skrill, Neteller, PayPal or others. Most deposits can be made without any charge from the broker, but keep in mind that a USD/EUR 25 fee is applied on all withdrawals, regardless of the payment method used.

For any customer service needs, EuropeFX can be reached by phone either in Germany or in Cyprus. Unfortunately, however, the broker has not published its support team’s working hours, which makes us suspect that true 24/5 service isn’t available here.

On a final note, we see EuropeFX as a forex broker that could potentially capture a part of the European trading market. This is perhaps particularly true in Germany, where the broker has a local office through a so-called “tied agent”, namely SF Market Services Europe. With that said, however, considerations such as a rather high minimum deposit requirements and relatively low leverage due to EU rules means that the broker will probably struggle with gaining a solid foothold outside of the EU.

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