EuropeFX Review – 5 things you should know about europefx.com

EuropeFX Review – 5 things you should know about europefx.com

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

 

EuropeFX is a Cyprus regulated forex and CFD broker offering a good selection of currency pairs and various assets including indices, commodities, stocks and even crypto coins with a choice of six account types and three trading platforms, including MetaTrader4.

On their trading platform we counted over 40 forex pairs, some with exotic currencies like Russian Rubble, Danish Krone, Honk Kong Dollar, South African Rand, Turkish Lira, Swedish Krona, Norwegian Krone, Mexican Peso, Hungarian Forint and Singapore Dollar.

CFDs are available on spot metals like gold, silver, aluminum, copper and nickel, lots of stocks, 13 indices and commodities, including oil, natural gas, cocoa, coffee, sugar, corn, cotton and orange juice.

We found also a number of crypto CFDs on coins, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, Monero, Dash and NEO.

EuropeFX trading conditions

As tested with a demo account the benchmark EURUSD spread fluctuated about 0,2 pips. However, EuropeFX takes a 30 USD commission per traded lot, which basically adds another 0,3 pips to the spread, when the second currency in the pair is USD. That leaves us with a EURUSD spread of about 0,5 pips which is quite competitive.

Maximum leverage is in line with the new European Securities and Markets Authority (ESMA) regulations, which cap leverage with forex trade at 1:30. Still EuropeFX says it can offer a leverage of up to 1:200, if a trader meets the requirements for a professional trading account.

EuropeFX sais you can start trading with them with just 200 EUR, but recommends opening a Bronze Account with 1000 EUR.

The above mentioned trading conditions apply for a Bronze Account. Unfortunately the broker does not tell us what are the trading conditions with its 200 EUR starting account.

EuropeFX trading platforms

EuropeFX offers a choice of three trading platforms – TradeWorks and EuroTrader, which are web based, and the MetaTrader4, which has both a downloadable and a web version.

The MetaTrader4 platform is well known to most traders. It features more than 50 in-build market indicators, various charting tools and the option to support algorithmic trading with the help of specially designed, customizable trading bots – Expert Advisors.

EuropeFX regulation & safety of funds

EuropeFX is owned and operated by MAXIFLEX LTD (previously Maxiflex Global Investments Corp. Limited), which is registered as a Cyprus Investment Firm (CIF) and is licensed by the Cyprus Securities and Exchange Commission (CySEC).

Along with the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) and the National Futures Association in the US, CySEC is among the most respected financial watchdogs on the market.

Among other requirements, CySEC regulated brokers are obliged to keep all clients funds in a segregated, protected form creditors account and to maintain a minimum operational capital of at least 730 000 EUR.

In addition all CySEC brokers support the Investor Compensation Fund – an insurance mechanism, which guarantees traders up to 20 000 EUR of their investment in the unlikely case their broker goes insolvent.

A similar compensation scheme with the FCA in the UK guarantees traders up to 50 000 GBP of their capital.

EuropeFX deposit/withdrawal methods and fees

You can deposit or withdraw funds at EuropeFX using all major credit or debit cards like VISA and MasterCard, bank wire and e-wallets like Skrill, SafeCharge, Sofor, iDeal, GiroPay, SafePay, TrustPay and Przelewy.

As we already mentioned, you can start trading at EuropeFX with just 200 EUR. For the premium accounts, however, the minimum deposit ranges form 1000 EUR to 50 000 EUR.

Rich Snippet Data
Review Date
Reviewed Broker
EuropeFX
Broker Rating
31star1star1stargraygray

Top Forex Brokers

Broker Country Rating Min. Deposit Website
US 5/5 $50 Click for a special offerWebsite
Australia 4.90/5 $100 Click for a special offerWebsite

43 Comments

  1. New To Traiding

    I have an account with EuropeFx and have had 2 calls with them both call purely to get more money deposited even tho I have $250AU it seems like if you don’t put 1000s into your account that don’t really give you much attention the last call I hade with them they just hung up on me because I told them I had no more money to put into the account. I feel that they are just a sale team trying to get as much money out of your bank account as they can.

    1. I have had the same problem and after telling them that £250 was what I wanted to start with I was foolish enough to change it to £750 but then I decided to close my account but they said I could only take out £500 at a time. The first withdrawal took 3 days but now the other £250 I am having trouble taking out with regular emails telling me it takes 10 days but I threatened them with the fraud department of Barclaycard and it was approved but still waiting for it to clear. When it does I am going on to Trustpilot to do a very ad review, hope you do the same.

    2. Thanks for the info

      1. Thanks for the information. I just stopped to continue to open my account via the phone call from them. They just try to guide you to do things they want you to do. Never follow anyone via phone call to do anything on your computer. Rule No.1

    3. Yep, I get the same impression.

  2. yes my self and 2 other freinds have lost a lot of money with in two weeks for me 6 weeks for one freind and 9 days for the other they are
    getting customers to trade on all diferent
    products as much as possible as they collect a very high commission totaly iresponsable
    keep asking put more money in it will hold up what you have already in vested then you can draw it out but it all looses and there balance
    at top of page is the money you put in pluss the trades that make profit none of the cost of commisions or loss of trades is subtracted
    there fore it is an incomplete balance
    it only fools you to beleive you are making all
    this money what is it a balance off if you have not alowed for the subtractions
    it simply there to fool the customer
    and they dont spend the time teaching you as they say they will its just press this button
    press that one completley confusing
    my older freind had to get medication
    from the doctor as it beacame spiraling out of control dont trust them at all they need to be investigated by asics and if you have dealt with
    them ask for all copys of imformation conversations and logs of trades they have to give it to you by law get asics to view it or a law firm that deals with this problem and go to
    youre bank and ask for a charge back or a money recall

    1. What that mean by money recall thanks

  3. I have been trading for about a month and the feedback I am giving you I hope will be taken seriously if your company is serious about client service. I do know my responsibility but when I first connected with your company I told the account manager I knew nothing about trading and that I wish to start small and slowly so I could learn. I was put on to a person call Steven who was assertive saying in so many words I needed $10,000 in my account if I wished to trade. My first big mistake should have got out then. Your ad stated start trading with $250 does Steven’s ‘actions mean your ad is a false ad? IThe first trade I had was a loss so I withdrew some of the monies left. Then the account manager got on the phone and once again telling me I needed the money in my account even though I told him again and again that I wanted to go slow but and steady. I truly don’t think he heard me or could not care. I was then put over to Edward for some training session and Edward let slip that I did not need large sums of money to trade. After cancelling my withdrawal another trade was set and guess what another loss. Then no communication. When account manger did finally did call wanted more money in the my accounting because he had the trade to cover all my losses – but guess what another lost!!His remark can’t you get from from a bank card!! I have been trying to trading on my own but using small volumes (another thing I was never told about) and forex ( I was told not to use currenies) I would loses my money!! I do not wish to have any further conversations with the account manager but would like to continue to learn and may be get back some of my losses a little at a time. I feel the account manager I had did not
    not listen or understand what I was saying.

    1. same as my experience. i am now learning how to trade by myself. It is hard, but at least you can make common sense decisions. The manager only tells you crap.

    2. I also had the same experiance but I got my money back with the help of ASIC & AFCA. If you are from Australia, this is the path you have to follow.
      https://asic.gov.au/about-asic/contact-us/how-to-complain/where-asic-can-help/shares-and-market-misconduct-insider-trading-etc/

      1. Hi thanks for ur information may I ask how do you do it because I am from au and lost to much income from dealing with this company.
        Thanks agt

        1. Hi Sali,
          Sorry to hear your bad experience with this Broker. They are “Market Makers” and they may have misled you as per my experience. The best thing is to make a complaint to the following link and AFCA may help you to get the money back if the broker has done anything wrong. Once you make a complaint, the broker will come for negotiation at the start and be strong and ask the full refund. All the best.

          https://asic.gov.au/about-asic/contact-us/how-to-complain/where-asic-can-help/shares-and-market-misconduct-insider-trading-etc/

      2. Mohammed Alameddine

        Hi how much did you Los with Europefx

      3. Nna dalu,thanks. Just deposited £200.00 last week to their account as required on their website and advertised.

        But today, a day supposed to be my induction and start of of the trading, the Relationships Manager allocated to me wants me to invest £10,000.00 to start trading today. I wasn’t decided whether its worth gambling my retirement fund on phone conversations, with the volabilites inherent in forex trade, i decided to run a check on this company and by sheer luck and accident,I then found all these helpful and , honest reviews. Simply can’t believe my luck and I thank all of you enough.

        Based on these reviews, i would not venture with this company. The Relationship Manager has called me four times already today and when he calls again, I will make efforts to recover my initial deposit and close my account with them. thank you all, for your time too.

      4. Thank you for your advice I too are going through similar situations where I don’t hear from these people only to add more money I have invested all of my savings when initially I was told I could start trading as little as $250AUS. I have sent numerous emails to David the support manager of the team as I haven’t added more funds he has not answered any of my emails. This experience has made me very anxious I’m having sleepless nights and trouble holding my job I hope that AISC can help me retrieve my $4,270 back. Anyone looking to trade with Europe FX please do your homework first and read reviews because it appears there are a lot of people in my situation to.

      5. I’ve just put a report with ASIC.
        They keep on calling me to put more money in.
        Can’t believe I was so stupid.

      6. Hi Kalu, thanks for your advice. I also had a honorable experience and a big loss
        Iv sent my complaints form off At the end of it id does say it does not handle individual cases how did you manage to get them to help you
        thanks Deb

        1. Hi Debbie,

          ASIC is not handling individual cases but normally they guide you step by step how to get this money back with the help of AFCA. Pls sent me your contact to [email protected] I will guide you as a friend.

          Thanks
          Kalu

    3. Maurice P Gaynor

      Dear Sue, I don’t know which country you are in. I am in the UK. To get into trading in shares, you have to start small. Forex is a global trading broker. They want people with spare money to gamble with. Get a newspaper that gives the shares in your country. Make a list and study the market. See these types / Property / oil / mining (copper, gold )Food / supermarkets, keep going and make a list in an exercise book/ you will soon see which shares are going up or down/ but that is only the value pe share/ imagine you buy 100 shares/ that is the %/ but you need to keep that for at least five years to know your profit or loss. Then start small / pick a share broker / ask your bank they might already have a branch only dealing in shares. they give you an account and you finance it by putting money in (your choice . say £250.) you have worked out the cost (as stated per share) £2 per share so buy 50 shares or shares for £50. They will buy it for you tell you the current price and give you 30 sec to make up you mind yes/no. Yes/ it is listed /you choose a name for your account/ every three months most firms pay a dividend / some firms doing well (remember your money is in their bank with thousands of others) when they make a big profit (say a restaurant chain – Greggs) they may pay a lump sum and a dividend. If you can spare it invest a 1000 pick your shares by asking other investors /some loose, then sell, buy the ones that pay a good dividend (5-10% +) others are steady but increase in value / count on every five years / that way you build a portfolio of your own. then if you want to gamble, put aside 2000 but not more than 4000. Then go to forx traders who are trading in global markets, with graffs, you have to know, some of the advisors may know or not/ they want you to invest/ but if you pick right (say crude oil) it goes up and down daily your 2000 could be 27600 tomorrow, sell and if you like buy another 200 worth. If you pick wrong then you lose. so be careful. ask around, or read the experts in the papers. My advice is stick to one country that you know, build a portfolio and watch the profits grow over the years, it’s great fun.

    4. Hi Sue,

      Exactly the same experience and unfortunately, I am reading these reviews now, after having lost $828 in less than a week. I am also new to margin trading. I had no clue that after a certain level of loss, the trade will automatically close and all money invested will be lost. When I got in touch with the account manager, she simply told me that she had warned me of the risks. I understand that these investments are very risky, but atleast they should have advised what action to take, when we see the markets going down. The lady was very assertive about investing in NASDAQ which according to her was not a volatile investment and it had potential to go up in few days. I am already struggling with finances and got another blow..Fortunately it opened my eyes sooner. Now I know what to do, not to trust anyone who appears to be your well wisher. Sadly this learning has come at a significant cost. We should report this company as a scam under the garb of a legit broker firm

  4. I have just deposited £250 with them and was immediately asked for a further £250 at 6.30 am . They had actually tried to take the money but my bank spotted it as unusual. I had to cancel my debit card and am now wondering will I get my money back . It probably is a proper broker service but I was suckered in with the £250 minimum amount . Now it seems I will have to add to the initial Amount to get trading and I have had to switch my phone off due to the constant phone calls . I wouldnt call it a scam just a hard sell . I,m just recovering from heart surgery and shouldnt have allowed my self to get involved as the hassle is now frenetic. Maybe it will take a few months to get my deposit back or maybe never serves me right for being an old fool

  5. When I worked with the account manager, I only lost money and almost 70% of my deposit in two weeks. while I worked with that guy, all his advice backfired, while the trades I did myself always gained money. he was also very pushy for me to deposit more money.
    My advice: learn how to do trading yourself. Read literature and watch videos and webinars. do trades with small amounts to get experience , get a feel on the market and learn the craft of trading yourself. The account manager does not really help you and the best is not to listen to him. Make your own plan and you have higher chances to make profits. since that I made weekly profits and learned a lot.
    As far as withdrawals are concerned, they pay out within a week,
    My two cents on this. Hope it helps.

    1. hello Peter
      how do you choose to use less of your money on a trade

  6. If you leave EuropeFX as I did, it is impossible to get them to delete your details. They are still phoning me up and each time I tell them I have left and want deleting from their files. Time and time again. They are the most pig-ignorant company I have ever dealt with. Hard-selling Cypriot money-grabbers constantly asking for more money from you – even though you no longer have an account! Stay well away!!

  7. I have just opened an account with #200, like some of you here I wanted to get experience in trading – can I withdraw my money before I trade and is it safe giving my bank details so they can do this?

    1. Jessica Lloyd

      S Chapman. Don’t do it it’s a trap.

  8. i also spend 200 euro,they want me to upload all documents, I asked for my money back, they said that everything would be refunded, eventually 160 were refunded.

    multiple points of unprofessionalism.
    the sales employee forced me to transfer money. I said that I will continue tomorrow, but I had to right at that moment.

  9. EuropeFX Scammed me and caused me to lose almost £1 million Pounds Sterling.
    Now after 4 months of delays and deception,they send me an offer of £ 310,000
    and expect me to accept?

    They will lie to you, rob you , and then expect you to accept an apology and 30%
    of your money back….

    I will not rest until all or most of my money is returned.

    Before you decide to invest with EUROPEFX ask yourself this question Why would they offer £1 ,far less £310,000 in compensation if they were not guilty/or at fault ?

    See their latest offer below,

    DEED OF WAIVER AND RELEASE
    This Deed is made on the 20th of March 2019 between Mr. James Wright of 102 Eaton Terrace London
    GB (‘Client’); and EuropeFX operated by MAXIFLEX LTD (the “Company”; together hereinafter the
    “Parties”)
    RECITALS:
    (A) A dispute arose between the parties, which revolves around the service given to the Client (the
    “Dispute”)
    (B) MAXIFLEX LTD is registered as a Cyprus Investment Firm (CIF) with the registration number
    HE327484 and which is regulated by the Cyprus Securities and Exchange Commission with
    licence number 258/14.
    (C) The Client is the owner of a trading account # 10565475 with the Company (the “Account”).
    (D) The Parties agreed by mutual consent to resolve the dispute, on condition that the Company shall
    credit the Client’s Account with a sum of GBP 310,000 (Three Hundred and Ten Thousand
    British Pounds).
    (E) The Parties wish to swiftly finalise the Dispute without prejudice to either party.

    1. Hi James,
      Same as my experience and I got my money back with the help of the Australian ASIC & AFCA as I am Australian and you may have a similar setup in the UK. Do not give up. Take all the money back. They are “Market Makers” and they will mislead you even on negotiation stages. Do not get caught, Be strong and all the best.

  10. Abhishek Chakraborty

    I dealt with them some time back. Later I decided to not trade anymore after losing some money. They still had some of my money in their account. They called me to ask what I want to do with that money. I told them to transfer it back to me. They asked me to share my screen with them. I asked why they need to see my screen to transfer my money back to me! Their answer was ” I don’t have time to explain and beg you to take your money back”. When I insisted them to explain, they actually said “Shut the F*** up!” and disconnected the phone. Never do business with them.

  11. They got me too Deposited $250AUD never got to trade or do anything at all just took my money. Asked for refund no reply. Avoid them.

  12. Do Not deal with this Company I lost over $2000.00 within 4 Weeks The Staff are very smooth operators and suck you in with their patronising attitude when you run out of funds they leave you hanging dry. STAY AWAY IF YOU VALUE YOUR SAVINGS>

  13. I’ve just been sucked in by them after being advised by an article online in The Mirror newspaper and Martin Lewis the trusted financial guru! I thought the caliber of Martin Lewis would indicate that EuropeFX were genuine. The sales guy has been awful – ringing every two minutes, being derogatory over my wanting to wait until I learned a bit more before trading. I had to ask him not to be so rude to me. A very very hardened saleman who I located on Facebook and Linkedin, only to find he’s a former estate agent who recently won the EuropeFX “fighter of the year” for sales retention. Who needs that when they’re starting out in shares etc?! I’ve requested withdrawal of funds having invested £1,300 but fortunately I haven’t yet traded to actually lose the money… whether I’ll get it back I don’t know. I’ve just reported the situation to Moneybox as they’re supposed to be looking after our money with good advice here in the UK!

    1. I came through them – through the same Mirror News paper Advertisement.

  14. SCAM!

    These guys use clever fake ads on social media to convince you to give them money and your identity information.

    STAY AWAY.

  15. Strongly lacks professionalism, very skilled specialists advice wasted!

    First, let’s recognize the positive and say that the experience with the specialists I got in contact with was excellent, both friendly and very knowledgeable.
    These were Jovanni, Jay and Eric, top marks to these guys! And when they assisted and were involved, a fair bit of money was generated, talking 30% gains a couple of times, very well done!

    What really lets them down is a very poor professionalism and one can’t help feeling it is the management that are very lousy, i.e. CEO and CFO, not the client facing staff, I really feel for them!

    Here is what I found:
    – 3 minute Deposits turn into Days withdrawals –> completely showing why EuropeFX strongly lacks professionalism! If it works in 3 minutes one way then it should also take 3 minutes the other way, this is 2019, not 1989!
    It makes them look like absolute clowns! And same fiber optic cable works at the same speed both ways! NOWHERE TO HIDE HERE, NO EXCUSE I AM AFRAID!!!

    – Complete lack of after hours support and I am talking about 5PM their local time in Tel Aviv. Not serious at all and the main reason I decided to leave, CEO is responsible for not realizing 40% of their potential customers actually demand the minimum level of support!

    – Local support (Sydney) is completely nonexistent, they do have an office in Sydney but it is completely empty from what I heard, not filling us with confidence!

    – Some of the more tricky questions seem to be put in the too hard basket and never actually get answered. Most likely caused by management enforcing the wrong policies and most likely putting unnecessary pressure on their staff!

    – The toolset provided seems to be at least one version behind the standard, I am in IT and it looks quite stale!

    I believe these have nothing to do with the great staff and the level of service they give.

    My best advice to them would be to go and find a job in a company with a CEO who is serious about providing customers with a minimum and reasonable basic support required, even outside local business hours if they want to retain customers outside of Israel!

    I WOULDN’T BLAME THE STAFF THOUGH, THE CEO IS RESPONSIBLE FOR NOT RUNNING A PROPER BUSINESS SMOOTHLY, HENCE THE VERY LOW PERCEIVED QUALITY!

    STAY AWAY FROM EUROPE FX, THEY HAVE A 60% APPROVAL RATING AT BEST, AND IT IS JUSTIFIED.

  16. I am so glad i found this reviews. Wow not even a good one. Well i just got started havent done any trading yet. I withdraw my initial deposit straight away i even contact my bank to ask if the could stop de pending transaction.

    thanks

    1. Hi Javier,
      Did you get your full initial deposit back?

  17. Hi,
    Don’t go anywhere near this scamming company, they will rip you off and by the time you find out it will be too late, you get absolutely nothing for your money!

  18. Flavius Fernandes

    Keep away, they will push you to deposit money very hard. Their whole process & procedure does not feel right from the first phone call. Any good comments about them?

  19. I’ve had the same experience than everyone else. Gladly didn’t lose any money, even gained some. But I stopped trading because of the sketchy behaviour described by others. Only thing I’m worried now is that the bastards still keep calling me even after two years.

  20. Europefx also scammed me out of alot of money they are regulated how do i contact there regulated company there account manager told me he had 3 years experance when in fact i was told later he was after starting with the company and told them he had experience with another company was told they sacked him said they were sorry as he mislead me as i had no experience and lost nearly 10k by him giveing me wrong information bad advice

  21. i join them not long ago,they told me to start with $250 then $500 then now $1000 but i haven’t pay $1000 yet,im still waiting,there is a guy call Isaac kept on calling me demanding me to pay $1000,now ive read the feedback i wont pay.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like

BTCtradings Review – 5 things you should know btctradings.com

BTCtradings offers a wide variety of CFDs, based