EverFX is an online trading platform where you can trade with various assets. The website is available in English and can be accessed at the URL https://everfx.com/. Among the tradable assets are indices, crypto currencies, bonds, foreign currencies (forex trading), metals and energies.
Did you have difficulties with an investment on EverFX? Or would you like to learn more about this broker in general or about online trading in particular? A lawyer is available to answer your questions.
The law firm Herfurtner Rechtsanwälte, which has offices in Hamburg and Munich, is contacted by private investors seeking investor protection. In addition, the lawyers are active in the fields of company law, capital markets law or business law.
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What is EverFX?
Every investor who plans to entrust his money to an online trading platform should thoroughly inform himself about the broker and his products in advance.
Blogs and forums where investors can discuss their experiences with EverFX and exchange opinions are a good place to start. If you search for articles on EverFX valuation, you will find a mixed opinion.
Some investors are interested in learning how to cancel EverFX. They also discuss how to delete the EverFX account. If you are looking for an EverFX test, you will find it too.
Nevertheless, it should be noted that one can also come across manipulated texts that deliberately mark a provider positively or express disadvantageous tendencies to make the offer bad.
Place of Business and Authorization
Also on the own website of a trading platform you can find useful hints for the interested investor. Here it is important to pay attention to what information can be found about the place of business and the regulatory status. There is no imprint on the EverFX website.
There is a section called “Support”. Here you can find answers to frequently asked questions and start a live chat with EverFX customer service. You can also request a callback and contact the Compliance Team. However, neither EverFX’s phone number nor address are listed here.
In the footer of the website, under the term “Group”, you can read about an ICC Intercertus Capital Ltd. This company is registered with and regulated by CySec, the Cypriot regulatory authority. In addition, there is a company called Digital Age Solutions with headquarters in Limassol, Cyprus. EverFX also writes in the footer that it is licensed by the FSA and CIMA.
EverFX Internet presence
On its homepage, EverFX describes its own range of products and services in terms of bonds, FX trading, commodities and indices. One could choose from thousands of different trading instruments.
Furthermore, EverFX is the global main sponsor of the Spanish football team of FC Sevilla. The reasons why traders take advantage of EverFX’s offer are listed below:
- trading without fees
- attractive spreads
- individual customer service
- various options for deposits and withdrawals
- official regulation
- fast processing of orders
EverFX describes itself as a five-star broker that strives to provide clients with a satisfying trading experience. Other benefits include protection against negative balances, separation of client and proprietary funds, and the ability to securely transfer funds. EverFX’s offering is aimed at both retail and institutional investors.
EverFX Educational Offer
EverFX has created a specific section on the subject of further education on its own website under the term “EverFX Academy”. This section provides training so that clients can monitor their trading experience. On the one hand, this includes various live webinars, on the other hand, personal coaching is also available.
The topics covered in the training and education area included not only shares and Forex Trading but also crypto currencies. Tutorials as well as videos with training content were used to convey information.
Trading on a platform for online trading requires access to trading software. In many cases, online brokers make this available to their customers free of charge. The software can be a proprietary development or a third-party application.
The EverFX home page tells you that traders can choose from five different powerful platforms in order to execute the EverFX login. Here, EverFX Metatrader 4 and Metatrader 5 are listed. Furthermore, you can use the Webtrader Status, a Social Trader and Mobile Trader.
The software is available for Windows and OSX operating systems, furthermore for mobile devices based on Android or iOS/iPadOS.
Registration and available accounts
Those who want to take advantage of EverFX’s offer and trade on the online platform must first register. Once the customer account is created, you will need to choose a live trading account. According to EverFX, there are four different account types to choose from, all based on the same level of customer service:
- Launch account: Minimum deposit of 250, bonus up to 30
- Standard account: Minimum deposit of 2,500, bonus up to 50%, individual client manager
- Premium account: Minimum deposit of 10,000, bonus up to 100%, personal account manager, Skype support
- VIP account: Minimum deposit of 50.000, bonus up to 100%, individual customer manager, Skype support, individual planning
According to EverFX, deposits and withdrawals could be made and received in several ways. For example, a bank transfer, credit card payment or e-wallet transaction could be used. Whether an EverFX demo account can be created first to test the functionalities is not explicitly mentioned in the account comparison.
Trading on the Internet – gather preliminary information
Even after the exchange at the head of the European Central Bank, experts believe that there will be no significant change in monetary policy in the foreseeable future. Investors who were satisfied some time ago with an investment in overnight money are therefore turning to more profitable alternatives.
Globalisation and digitalisation make it possible to offer services all over the world and from anywhere. Accordingly, many online trading platforms are increasingly turning to European investors.
However, investing on online platforms is not recommended for everyone and not without restrictions. For one thing, the platforms are often not based in the country of residence. Apart from the possible language barrier, it is not always possible to determine beyond doubt whether the companies are also legitimate to do business in Europe.
This usually involves complex products such as crypto currencies, Contracts for Difference (CFDs) or Forex Trading. These are characterised by a pronounced volatility and high risks, which is why they are by no means suitable for every type of investor.
With online brokers, the advice is not always the same as you would expect from a financial institution or investment advisor. Often there is no fixed contact person available and the own risk preference is ignored when selecting the products offered.
This means that investors may get the wrong results when they want to evaluate the risks. As a result, the risk of making a bad investment and having to write off the capital invested increases.
Potential losses in online trading
In the event of losses, one should refrain immediately from injecting further funds. Instead, you should first and foremost discuss with the online trading provider why losses were incurred and whether there are ways to compensate for these losses.
If the matter is not resolved satisfactorily by the provider, one can contact a lawyer and seek investor protection. The law firm Herfurtner Rechtsanwaltsgesellschaft mbH will examine to what extent you are entitled to claims against the trading platform. If desired, it will enforce these claims directly with the contractual partner.
Date of text creation: 9 March 2020