EVENFOREX

About company:

EvenForex is an online broker that offers trading in precious metals, currency pairs, minerals and commodities.

 

About company. Fund security

Founded in 2013, EvenForex claims to be a pure No-Dealing-Desk (NDD) brokerage agency.

 

The broker is owned and operated by EvenForex Business Solutions Pvt. Ltd, which is registered in Dominica. Dominica is an offshore area where some of the international rules in the online trading industry apply, however Forex brokers are not currently regulated.

 

Simply put, if you choose to open an account with an unregulated broker, you are putting yourself at greater risk than investors who work with licensed companies. So, in case of bankruptcy of the company, you most likely will not get your funds back, therefore we do not recommend investing large sums of money in unregulated brokers.

 

Trading conditions

EvenForex offers several types of accounts depending on the initial amount of the client's deposit. Operations on all accounts are executed using NDD technology, variable spreads are also set and there are no commission fees (except for ECN and Master Pro accounts).

 

Micro lot trading is available on all types of accounts, and services are also offered for clients of the Islamic faith who deposit at least $ 5,000.

 

Spreads

Although the minimum initial deposit of $ 50 on a Standard account may seem tempting at first glance, the spreads offered on this type of account are well above the industry average - starting at 2.5 pips for the EUR / USD pair. Offers for ECN, EvenPro account holders are more profitable - the spread on a standard lot is at least 0.9 pips. True, this means that the average cost will be above 0.9 points, and for this broker it will go beyond 1.5. At the same time, a number of licensed brokerage companies offer spreads ranging from 1.0 to 1.5 pips for this currency pair.

 

The best deals on the spread on the Master Pro account, but then you will have to deposit at least $ 50,000. Let's just note that investing $ 5,000 or more in unregulated brokers is too risky.

 

Leverage

The leverage varies by account type. The largest leverage on the Standard account, it reaches 1: 200. Further, its size decreases depending on the increase in the initial deposit. Master Pro account holders can take advantage of leverage up to 1:50. Thus, the broker wants to warn his clients that poor risk management leads to a loss of money.

 

Trading platforms

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

 

The terminal has been used in the industry for over 10 years and has earned the title of stable and reliable. MT4 has many functionalities and add-ons that have been developed over the years (primarily experts) and allow you to fully automate trading. MT4 also provides advanced charting tools and an extensive testing environment.

 

Bonuses and discounts

EvenForex offers a $ 10 welcome bonus for all live account holders, a discount program, and organizes contests for traders.

 

Support service

The available communication methods include a phone number, email, live chat. The site states that specialists answer traders' questions around the clock during the entire Forex operation.

 

Ways of payment

EvenForex clients are offered the following payment methods: credit cards, bank transfers and electronic wallets Skrill, Neteller and WebMoney.

 

Pros:

 

execution of transactions on the NDD model; no commission on all accounts, except for ECN and Master Pro; MT4 terminal is available; the broker holds promotions and contests for its clients.

 

Minuses:

 

not regulated; there is no choice of trading platforms; trading costs for spreads on accounts other than Master Pro are above the industry average.