Corex Market is a financial broker registered in the United Arab Emirates in 2023. It offers trading on forex pairs, commodities, indices, cryptocurrencies, and stocks via the cTrader platform and provides four kinds of accounts with minimum deposit set at $100. However, Corex Market lacks a legal license from any official financial authority.
Pros and Cons
Is Corex Market Legit?
Corex Market, an unregulated financial service provider with no legal regulatory license, should be avoided. In addition, the domain of this broker was registered on August 26, 2023, and will expire on August 26, 2033, with the latest update on April 7, 2024.
What Can I Trade on Corex Market?
Corex Market offers the following types of tradble instruments:
Forex pairs: EUR/USD...
Commodities: Precious Metals, corn, soybeans, sugar, cocoa, coffee, wheat...
Indices: Australian S&P 200 Index, UK FTSE 100 Index, US E-mini S&P 500, US DJIA Index...
Cryptocurrencies: Bitcoin, Ethereum...
Stocks: Apple, Facebook, BHP Billiton...
Account Type
Corex Market offers four distinct types of live operating accounts, with minimum deposit requirements ranging from $100 to $10,000. Additionally, a free demo account is available for you to practice and familiarize with the platform.
Leverage
The maximum leverage provided by Corex Market for all accounts is 1:100, which is relatively reasonable. However, you should not forget that Corex Market is not trustworthy, and it is advisable for you to choose the services of a legitimate, licensed broker.
Corex Market Fees
Corex Market offers different spreads for its different accounts. The standard account has spreads starting from 1.5 pips, which is not very competitive. You may want to consider choosing a regulated broker that offers more appealing spreads.
As for commissions, Corex Market charges a commission for ECN PRO and VIP accounts, reaching $7 and $5 respectively, which is relatively high. The other two account types are commission-free.
Trading Platform
Corex Market offers a cTrader for trading, with both web and app versions available. It claims to provide the functionality to copy the trading of experts, which can be useful for beginners. However, you should keep in mind that this broker lacks legal oversight.
Deposit and Withdrawal
Corex Market offers multiple methods for deposits and withdrawals, including local banks, the Top Change payment portal, and cryptocurrency wallets, which are available 24 hours a day. You can top up your account seven days a week.
When making a withdrawal, the minimum amount is $5 for all accounts, and you must use the same method that you used to make the deposit.
