ezifx Information
ezifx started its brokerage business in 2011 registered in Saint Lucia while operates in the United Arab Emirates. It offers over 1500 market instruments for trading and 24/7 customer support. Implementation of segregated funds, negative balance protection and encryption techniques enhances protection of customer property.
Besides demo accounts and four tiered live accounts, the broker also provides access to Islamic account for those who need to comply to Sharia laws. The MT5 trading platform ensures smooth and intuitive trading experience for traders.
However, the company currently operates without regulation from any authorities, to some extent degrades its credibility and reliability.
Pros and Cons
Is ezifx Legit？
ezifx is not regulated by any financial authorities so far, which you should take into consideration before tapping into real trades with them, since lack of regulation usually means less financial security and customer protection.
What Can I Trade on ezifx？
ezifx claims to provide over 1500 trading instruments in mainly 6 asset categories: forex, indices, commodities, shares, bonds and cryptocurrencies.
-Forex: The largest and most liquid market in the world that can be traded 24 hours a day. You can profit from the price fluctuations of different currency pairs.
- Commodities: ezifx's commodity trading involves in metals such as gold, silver, platinmum, copper, as well as energy products like crude oil, and primary agriculture products .
- Indices: Indices allow you to speculate on the performance of major stock markets worldwide. Common indices are the S&P 500, FTSE 100, and Nikkei 225.
- Cryptocurrency: Virtual or digital form of currency, such as Bitcoin, that uses cryptography for security and operates independently of a central bank. Digital market is the fastest-developing and volatile market.
- Shares: Trading shares allows you to buy and sell ownership stakes in publicly listed companies such as Apple, Amazon etc.
- Bonds: Bond trading at ezifx involves government and corporate bonds, offering a relatively stable investment option.
Account Type
Apart from a demo account for traders to practice in a risk-free environment without losing real money, ezifx also provides four tiered live accounts, with minimum deposits ranging from an acceptable $10 for most investors in Pro account to $25,000 for experienced and high-net-worth traders in Zero account.
Leverage is up to 1:500 for the basic Pro and Prime accounts and 1:1000 for the senior ECN and Zero accounts. No matter which account you open, it's never too careful to deal with leverage with utmost caution since it amplify not only profits, but also loss and risks.
What makes ezifx stand out is the availability of the Islamic version of each account, providing compliant environment where traders can conduct transactions free from interest while upholding the integrity of their faith.
ezifx Fees
Keeping an eye on trading fees matters since they have direct impact on your profit margins. The more fees you pay, the more they eat into your returns. With ezifx, the fees depend on the account types.
ECN account has the tightest spread from 0.2 pips but charges commission at $7 per lot. Other accounts are comission free but with wider spread levels.
Trading Platform
ezifx offers the world-renowned MetaTrader 5 platform, which is popular for its comprehensive functions and trading tools such as indicators & analytical object tools, charts & timeframes, automated trading, hedging system etc. Other features such as social trading and copy trading are also favourable for investors, especially for beginners to imitate the successful modes of expert traders from community interactions.
You can use the platform through web, or download the app on PC, iOS and Android devices to realize round-clock trading without location restrictions.
Deposit and Withdrawal
Deposits and withdrawals with ezifx can be made through bank wire, bitcoin, tether and Perfect money. And the broker does not accept third-party payments
Amount for both minimum deposit and withdrawal for bank wire is $50, with a $20 processing fee for withdrawals under $100.
For crypto and Perfect Money, you need to deposit or withdraw at least $10, with no fees charged, benefiting clients who want to start small and take out small sum of profit.
Customer Support Options
If you want any help or support from ezifx, you can reach them through phone, email, social media, or visit them in person in their Montenegro office.
In addition to the above, you can also submit a contact ticket on their website and wait for callback from a representative.
The Bottom Line
ezifx offers a wide selection of more than 1000 investment options for traders, enriching their financial choices. The MT5 trading platform, demo account, and functions of copy/social trading benifit users a lot, especially for beginners.
Nonetheless, the company operates without valid supervision from recognized regulatory bodies, which is a major demrit should not be neglected.
FAQs
Is ezifx safe？
Not really, though a lot of security measures are implemented such as fund segregation, negative balance, the unregulated status of the company wipe out all these advantages.
Is ezifx good for beginners？
Yes, beginners can start small at $10 to test water first with ezifx's Pro account and practice their trading strategies with virtual money in the broker's demo account.
What trading platform does ezifx have？
ezifx offers the world most popular MT5 platform for trading.
Risk Warning
Online trading involves considerable risk, so it may not be suitable for every client. Please make sure that you totally understand the risks involved and notice that the information above provided in this review may be subject to alteration owing to the constant updating of the company's services and policies.
