EvenForex Review

EvenForex Review by professional Forex trading experts the “” FX trading team, Finding out everything you need to know about the broker is in this EvenForex Review.

EvenForex Review

EvenForex offers several account types, depending on the client’s initial deposit amount. All accounts offer NDD market execution with variable spreads and no commission fees (except on ECN account). Micro tradeable lots are offered on all account types, while swap-free services are offered to clients of Islamic belief who deposit at least $5 000.

Account management services are also available with this broker.

While a minimum initial deposit of $50 looks quite attractive, the spreads offered on this account type are far above the average for the industry – starting out at 2.5 pips for the EUR/USD pair. The offerings for the ECN account holders are better – the cost of trading per standard lot being 1.5 pips as a minimum. Unfortunately, this means that the average cost would be above 1.5 pips, while a number of brokerages offer spreads within the range of 1.0 – 1.5 pips for this currency pair, and most of them are duly authorized to provide financial services.

We will not comment on the trading conditions of the other account types, as we consider investing $5 000 and more in a non-regulated broker too risky.

The Company. Security of Funds

Company Country Regulation
EvenForex Business Solutions Pvt. Ltd Dominica N/A

Established in 2013, EvenForex claims to be a pure No-Dealing-Desk (NDD) brokerage, offering online trading in a wide range of financial assets, including a number of currency pairs and various CFDs on the industry’s standard MetatTrader4 platform.

Behind the brand is EvenForex Business Solutions Pvt. Ltd, a company headquartered and registered in Dominica. Dominica is an offshore destination where some international banking regulations apply to all companies operating out of it, however, forex brokers are currently not regulated.

To put it simply, if you choose to open an account with a non-regulated broker, your funds are not safe. So, if you intend to invest a large amount of money, we would advise you to select among brokers licensed by the respective authorities in the UK, Australia for example.

Nonetheless, we checked this broker out in the famous forexpeacearmy site (FPA), and the user reviews are overall positive.

Trading Platforms

EvenForex offers its services on the most popular trading platform among traders – MetaTrader 4 (MT4). It is available as a desktop, web and mobile versions.

It has been in use for over 10 years now and has proved to be stable and reliable. The MT4 has many functionalities and add-ons that have been developed over the years – most notably Expert Advisors, which allow full automatization of trades, and technical analysis indicators. MT4 also provides advanced charting tools and extensive back-testing environment.

Bonuses & Rebates

EvenForex offers a welcome bonus of $10 for all live account holders, a rebates program and also organizes trading contests.

Methods of Payment

Clients of EvenForex are offered the following payment modes: credit cards, bank wire transfers, and e-wallets Skrill, Neteller, and WebMoney.

EvenForex is a forex and CFD broker that supports the popular MT4 platform and uses a pure NDD execution. Its main drawback is the lack of regulation. Besides, trading costs on its basic account types are above average.

The Broker is not a safe forex broker, Instead you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.

EvenForex Review Conclusion

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