Fondex Review and Tutorial

Fondex is licensed by the Financial Services Authority (FSA) of Seychelles with a Securities Dealer License No: SD037.  Fondex is a tradename used also by TopFX Ltd, which is part of the same group of companies and that is licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 138/11.”

Fondex is a worldwide forex and CFD intermediary situated in Cyprus. Spreads start from 0.0 pips with volume limits, and the incredible cTrader stage is accessible. This audit of Fondex will unload account types, portable applications, demo accounts, and that’s only the tip of the iceberg.

Fondex Overview

Any other reference concerning TopFX Ltd to be removed as the agreement is with Fondex Limited that is licensed by the FSA of Seychelles. The CySEC entity is not allowed to offer services to IBs.

Since opening in 2011, the intermediary has gotten various honors and acknowledgment for its straight-talking stage and low exchanging costs.

Trading Platform

Fondex utilizes the worldwide perceived cTrader stage. The downloadable and web-open programming is an extraordinary all-around framework, addressing the necessities of novices and experienced dealers. 

cTrader has more than 70 pointers, 26 time periods, and four unique graphs. Various kinds of request execution are accessible:

• Market, stop, limit, and stop-limit orders
• Stop Loss and Take Profit orders
• Market Order on Open
• Trailing Stop Loss orders
• One Cancels the Other
• Time of The Day
• Good till Day

Signs are accessible from Trading Central and Autochartist. Mechanized exchanging is likewise accessible through cBots, permitting attempted and tried procedures to be put on autopilot. Similarly, the complex danger the board instruments allow brokers to keep an idea about benefits and misfortunes. 

The lone drawback is that for brokers awkward with cTrader, there aren’t any choices accessible. In general, however, cTrader is a vigorous and dependable exchanging stage.

Markets

More than 1,000 exchanging resources are accessible at Fondex. The stage gives admittance to many forex sets, including majors, minors, and exotics. 

Additionally accessible are 15 significant worldwide records, more than 900 offers, in addition to metals, energies, digital forms of money, and ETFs.

Spreads & Commissions

Spreads and exchanging charges at Fondex are genuinely sensible. Spreads start from 0.0 pips, while regular spreads on the EUR/USD and GBP/USD forex sets are 0.28 and 0.71 pips individually. 

Fondex commissions are straightforward, with $2.5 charged per $100k exchanging volume on FX, metals, and energies. A $1 charge is imposed per side of 100 offers and ETFs, while clients get zero commissions on records and cryptographic forms of money. 

Generally, Fondex positions exceptionally among our intermediary audits for low exchanging costs.

• Our Spreads are from 0.5 pips and are variable with zero commissions
• Stop out level at 30%
• we also incorporate Negative balance protection
• We do not offer Trading signals
• We offer 100% bonus for the first deposit only and up to $2000 only  

Leverage

Fondex influence levels range from 1:2 up to 1:30. This is low contrasted with different brokers and limits the size of places that dealers can take. 

The in addition to side, more traditionalist influence can assist with keeping an idea about misfortunes and lessens the danger of openness for new brokers.

Mobile Apps

A beneficial Fondex cTrader application is accessible from the Apple App Store for iOS gadgets and Google Play for Android gadgets. The versatile application offers a similar arrangement of resources and markets as the work area stage. 

More than 60 portable pointers are accessible in addition to five graph types, including candles, bar outlines, and line diagrams. 

A market estimation pointer offers how others are exchanging while image watchlists permit brokers to save their #1 images. 

What’s more, value cautions can be set up to get notices when foreordained value levels are hit. Responsive one-tap exchanging is likewise accessible. At long last, the versatile application offers nitty-gritty execution measurements so you can survey methodologies.

Fondex Payment Methods

Fondex offers a fair determination of store and withdrawal techniques:

• Debit & credit cards
• Bank transfer
• PayPal
• Neteller
• Skrill

Stores are prepared quickly and bring about zero charges. There is likewise no base store necessity, which is incredible for new brokers.

For withdrawals, you can utilize any of the store installment choices. PayPal is the quickest, offering moment withdrawals, while charge/Visas, bank move, Skrill, and Neteller would all be able to require as long as 24 hours. There are no withdrawal expenses at Fondex. 

Generally, this audit is intrigued with the scope of installment alternatives, the speed of installment handling, and the zero charges.

Demo Account

The Fondex demo account accompanies 100k virtual cash and allows you to test the cTrader stage utilizing constant market information. Select ‘Attempt a free demo’ from the upper right of the dealer’s site, enter your email address and phone number, pick a secret key, select your nation of beginning, and afterward, you’re all set.

Deals & Promotions

Fondex misses the mark regarding joining rewards and advancements without any offers accessible at the hour of composing. This is partially a result of limitations from the European Securities and Markets Authority (ESMA). Welcome rewards can be found on different destinations and go about as a fantastic motivator for new brokers.

Regulation & Licensing

Fondex is controlled by the Cyprus Securities and Exchange Commission (CySEC) regulated by the European Securities and Markets Authority (ESMA). 

Accordingly, the specialist is consistently inspected, gives its customers negative equilibrium assurance, and joins the Investor Compensation Fund. 

Additionally, under permitting conditions, the broker keeps customer assets in solo records with Tier-1 banks. 

Generally, this audit is fulfilled Fondex is a reliable representative with no referred to administrative infringement starting at 2021.

Additional Features

Fondex offers some helpful extra elements. The site has Market News and Educational Articles areas which give clients additional market bits of knowledge. Be that as it may, the quality and profundity of content are restricted.

Copy Trading

Duplicate exchanging permits clients to duplicate the techniques of high-performing dealers. It tends to be an incredible alternative for fledglings beginning and for dealers tight on schedule. Many methodologies are accessible, and investigation instruments assist you with discovering a technique that will meet your speculation objectives. Thus, beneficial procedures can be offered to different clients to acquire additional income.

Account Types

Two distinctive record types are accessible at Fondex: 

• Standard Account – The typical record gives admittance to all Fondex tradable resources. There is no base store, and the Base Exchange size is one small parcel. Scalping, supporting, and mechanized exchanging are, for the most part, accessible with the standard record. 
• Swap–Free Account – Suitable for Islamic brokers, this record eliminates interest derivations or overnight installments. Besides that, it’s equivalent to the standard history. To apply for the trade-free form, brokers should round out an application structure from the site and email it to client service alongside evidence of confidence. 

Note, the two records are a crossbreed execution model of ECN/STP, consolidating quick execution with adaptable spreads.

Benefits

There are a few benefits to exchanging with Fondex:

• Reliable and user-friendly cTrader platform
• Demo account with 100k virtual bankroll
• No minimum deposits or payment fees
• Reputable brand regulated by CySEC
• Low spreads and commissions
• Automated trading available
• 1,000+ financial products

Drawbacks

Downsides to opening a record with Fondex include:

• Relatively low leverage levels
• Limited bonuses and promotions
• Restricted to one trading platform

Trading Hours

Fondex exchanging hours adhere to standard market opening and shutting times. So forex trading hours open at 22:00 GMT Sunday through to 22:00 GMT Friday. Metals work from 23:00 GMT Sunday through to 22:00 GMT Friday. Stock lists and offers follow the initial occasions of their individual market working hours.

Customer Support

Fondex client service is accessible in English, French, Russian, Greek, and Arabic 24/5 using: 

• Live chat – online visit confine accessible the base right-hand corner of the site 
• Telephone support – +357 25028079 

We’d suggest live talk as the principal resource. During testing for this audit, the sit-tight ideal opportunity for talk support was not two or three minutes, and delegates had the option to answer most item and stage questions.

To stay aware of the most recent Fondex news, you can likewise track down the representative via web-based media:

• Facebook
• Instagram
• YouTube
• LinkedIn

Security

Fondex utilizes industry-standard security conventions to keep customer information secure, including 512-bit scrambled exchanges. This, combined with the isolation of customer reserves and administrative consistency with the CySEC, implies we’re fulfilled they are safe.

Fondex Verdict

This is an overall broker, offering a wide range of resources, shallow exchange charges, and a phenomenal stage. As this audit has shown, Fondex is especially useful for fledglings, with no base store prerequisites, a clear standard record, and duplicate exchanging accessible.

Accepted Countries

Fondex accepts traders from Australia, Thailand, the United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and most other countries.

Fondex does not provide services to residents of the United States of America, Japan, North Korea, Iran, Belgium, Canada, and other countries whose domestic regulations classify such investment offerings as prohibited.

Alternatives to Fondex

If you are searching for options in contrast to Fondex, we have aggregated a rundown of the best 5 specialists like Fondex beneath. This rundown of specialists like Fondex is arranged by comparability and incorporates organizations that acknowledge brokers from your area. 

• OctaFX – OctaFX offers multi-resource exchanging on a scope of stages and portable arrangements. 
• RoboForex – RoboForex is a multi-resource online broker offering incredible exchanging helpers. 
• Hantec Markets – Hantec Markets is a multi-controlled online FX broker offering MT4 and a customized administration giving immense adaptability to suit any dealer. 
• ThinkMarkets – ThinkMarkets is a multi-directed forex and CFD dealer 
• IronFX – IronFX offers web-based exchanging forex, stocks, fates, wares, and cryptographic forms of money

FAQ

How can I start trading with a live Fondex account?

To open a live exchanging account with Fondex, select the ‘Begin exchanging now’ enclose the upper right-hand corner of the dealer’s site.

Enter some essential contact subtleties and transfer recognizable proof for confirmation. When handled, your record will be enacted, and you’ll get login accreditations.

Is Fondex regulated?

Indeed – Fondex is an exchanging name of TopFX Ltd and is authorized with the Cyprus Securities and Exchange Commission (CySEC). The specialist’s permit number is 138/11.

Is there a minimum deposit to start trading with Fondex?

There is no base store necessity at Fondex. This makes it a superb agent for fledgling brokers beginning.

Can I copy trade with Fondex?

Indeed – you can get to the duplicate framework from inside the cTrader stage. It’s accessible from the left-hand side of the principle stage interface. From that point, clients can duplicate the exchanges and procedures of influential dealers.

Can I lose more than my deposit trading with Fondex?

No – Fondex utilizes adverse equilibrium insurance so dealers can’t lose more than their underlying store.