RECOMMENDED FOREX BROKERS
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EnjoyTradingX, or Eternity Global Limited, will be reviewed, and revealed for what it is. A first cause of concern is the confusing URL, that in no way matches the its actual name. That is, the official name of the broker, as per the website, is Eternity Global Limited. Yet, the URL clearly indicates EnjoyTradingX. This confusion does give cause for concern, but there are things that discredit this confusion. Please read the review to find out all you need to know about Eternity Global Limited.
We had no way to register, but the reason for it is actually a good sign. To register an account, users must attach copies of their IDs. However, there was no option to open a demo account, which is always a bummer since there is no other way to verify if the trading and payment conditions that are revealed on the website meet the actual conditions found in the user dashboard.
According to the website, the leverage is capped at 1:400 which is relatively low for an offshore broker. The EUR/USD spread is said to be 1.8 pips, a value that is not lucrative to users. Consider that the average EUR/USD cost of trade is 1.5 pips, everything above that is not worth it. The trading assets are forex pairs, commodities, and indices. What’s missing here are the cryptocurrencies. These have become a must for every broker.
Eternity Global Limited comes in English and Chinese.
ETERNITY GLOBAL LIMITED REGULATION AND SAFETY OF FUNDS
The website reveals that Eternity Global Limited is regulated by the Vanuatu Financial Services Commission (VFSC). The website checks out, and so Eternity Global Limited is in fact regulated by the commission.
The VFSC is an offshore FX broker regulator, and as such it cannot in any way be compared to the likes of the FCA or CySEC. Yet, this still is a proven regulator, and those firms under its gaze are by definition legitimate, even if many of them offer questionable trading services from time to time. This is because the VFSC allows for a more loose approach, and so you should not be surprised by the look and feel of Eternity Global Limited; it possesses the look and feel of an suspicious broker yet it is allowed to provide legal FX trading services. And furthermore, since March of last year, the financial regulator has strengthened its requirements. Today all regulated entities must be physically located in the country’s territory and have a local director present at all times. Still, the nation is well known to many offshore brokerages, and it still lacks the capacity to fully regulate more international brokerages.
The most important thing to know about the Vanuatu Financial Services Commission is that it requires a minimum capital of $50 000 from all its brokers.
ETERNITY GLOBAL LIMITED TRADING SOFTWARE
The alleged trading software her is the MT4. Seeing as the broker is regulated, we have to trust this info.
The MT4 is superb and efficient as it can get. The inclusion of it here is a boost in the right direction. The MT4 includes automated trading, superb interface, chart management possibilities, analysis tools, and so much more. The possibilities are almost limitless, as the MT4 has adapted it’s terminal to fir the need of every customer, no matter what their ultimate goal is.
Pro Accounts holder have to be aware of a $7 commission which is applied per round. Basically, all spreads while using the Pro Account are increased by 0.7 pips. With this commission in place, the Pro Account might seem mighty expensive seeing that the minimum deposit necessary to activate it is $20 000. Furthermore, according to the website, the EUR/USD spread for the Pro Account is 0.3 pips, and when added the 0.7 pip commission, you get a real cost of trade of 1 pip. Is this spread worth the $20 000?
ETERNITY GLOBAL LIMITED DEPOSIT/WITHDRAW METHODS AND FEES
The website claims that the minimum deposit is $200, and that the funding methods are: credit card, wire transfer, China Union Pay, Neteller, Skrill, and Poli.
Withdrawals are done by means of the same methods used for depositing. All withdrawal processing times are up to 3 days. There seem to be no withdrawal fees anywhere.
Needless to say, without the Terms and Conditions, some of the most crucial legal ties between the user and the broker are missing. So, in essence we cannot trust Eternity Global Limited entirely, and as a conclusion our advice to readers is to avoid this broker until it has improved on its lackluster aspects.