Introduction to Review of Fondex
Fondex is an online Forex and CFD broker founded in 2017 and based in Limassol, Cyprus. Fondex is a trade name of TopFX Ltd., which is registered as a Cyprus Investment Firm (CIF) and licensed by the Cyprus Securities and Exchange Commission (CySEC) under licence number 138/11.
In this review we will be focusing on Fondex cTrader, the platform that Fondex offers its clients. Fondex has chosen to differentiate from other brokers who also feature the MT4 and MT5 platforms. While most brokers offer just MetaTrader 4, Fondex has chosen a different path. Apart from the broker’s trading platform, we will also be looking at the rest of the features on offer by Fondex. Should you trade with Fondex cTrader?
Fondex is a multi-asset financial broker. As already mentioned, Fondex is a trade name of TopFX Ltd, which is registered as a Cyprus Investment Firm (CIF) and licensed by the Cyprus Securities and Exchange Commission (CySEC) under licence number 138/11. The broker offers traders from around the world the ability to trade over 1000 tradable instruments, across 7 asset classes. Fondex cTrader also offers 4 different ways of trading, on the same interface – point and click manual trading, copy trading as a strategy provider, automated trading, following trading signals.
Being CySEC Regulated, Fondex also offers their clients with high security of their funds by being a member of the Investor Compensation Fund, keeping clients’ funds in segregated Tier-1 Bank accounts and providing traders with Negative Balance Protection.
|Year Started Offering cTrader||2017|
|Number of Employees||5+|
Fondex Trading Conditions
Fondex is offering its clients one account type plus a Swap-Free account for Islamic traders. The Fondex Trading Account provides traders with all-inclusive access to all of the tradable instruments offered, as well as all the trading and analysis tools available.
Fondex offers raw spreads which start from 0.0 pips and charges just $2.5 per lot per side on most trading pairs, which makes Fondex among the cheapest cTrader brokers. It’s worth noting that Indices and Cryptocurrencies trading is commission-free.
|Maximum Leverage||Up to 1:30 for Retail Clients
Up to 1:500 for Professional Clients
|Asset Classes||Forex, Shares, Indices, Metals, Energies, ETFs, Cryptocurrencies|
|Total Number of Trading Pairs||More than 1,000|
|Trading Commissions||$2.5 per lot per side for Forex, Shares, Energies, Metals and ETFs
N/A for Indices and Cryptos
|Account Currencies||AUD, CAD, CHF, EUR, GBP, JPY, PLN, USD, THB|
|Stop Out Level||50%|
Accessibility to Fondex Services
Fondex offers its services worldwide, with the exception of the United States of America, Japan, North Korea, Iran, Belgium, Canada and other countries whose domestic regulations classify such investment offering as prohibited.
The broker accepts deposits via the majority of the most popular bank cards (Visa, Mastercard, Maestro) and e-wallets (Skrill, Neteller, Paypal), as well as via bank wire transfer.
|Countries Excluded||USA, Japan, North Korea, Iran, Belgium, Canada|
|Deposit Options||Visa, Mastercard, Maestro, Skrill, Neteller, Paypal, Bank Transfer|
Review of Fondex cTrader
Fondex is part of a growing group of forex brokers that are moving in the direction of using cTrader as their only trading platform. Because of this focus on cTrader, the company promotes the platform very well on its website and in various communication channels. Fondex cTrader offers over a thousand symbols, most of which are single stock CFDs. There are very few brokers that offer stocks on cTrader at this time.
Conclusion of Fondex Review
Based on our analysis, Fondex is a promising entry in the online CFD trading world. The broker is regulated in Europe, with a focus on providing its customers with some unique trading conditions, combined with the sophisticated and award-winning cTrader. Fondex is a good choice for anyone wishing to trade shares on the cTrader platform.
In general, before deciding on any broker, we would advise that you check the complete list of over 30 active cTrader brokers.