Score
FONDEX
Seychelles|5-10 years| https://fondex.com/
Website
Rating Index
Influence
Influence
B
Influence index NO.1
United States 6.86Contact
Licenses
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
Seychelles
5-10 years Suspicious Regulatory License cTrader High potential riskAccount Information
Formal full license MT4/5 traders will have sound system services and follow-up technical support. Generally, their business and technology are relatively mature and their risk control capabilities are strong
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Website
fondex.com
Server Location
France
Website Domain Name
fondex.com
Server IP
212.83.172.211
Company Summary
| Registered Country | Seychelles |
| Regulation | A cloned broker |
| Minimum Deposit | $1 |
| Maximum Leverage | 1:500 |
| Trading Platform | Fondex cTrader |
| Demo Account | Not available |
| Trading assets | Forex, Shares, Indices, Precious Metals, Energies, ETFs, Cryptocurrencies |
| Payment Methods | Wire Transfer, e-Wallets, Credit/Debits Cards |
| Customer support | Telephone: +248 467 1987 Email: support@fondex,com.scsupport@fondex.vn |
General Information
This Fondex claims that it is an online forex broker registered in Seychelles, offering its clients a series of trading instruments covering Forex, Shares, Indices, Precious Metals, Energies, ETFs, Cryptocurrencies, and the maximum trading leverage that can be used is up to 1:500.
Regulation
This Fondex is the tradename of Fondex Limited. And this broker said it holds a license authorized by CYSEC, and a license authorized by FSA. However, Fondexs regulation is totally fake when we check the detailed regulatory information.
In the following regulatory license, it is clearly showing that Licensed institution is Topfx Ltd, and website of licensed institution is www.topfx.com, which has nothing to do with this Fondex.
The same condition with the second license it allegedly holds. Although the licensed institution is Fondex Limited, the websites of licensed institution listed are http://www.fondex.com.sc/, http://www.topfx.com.sc/, also having nothing to do with this Fondexs website: https://fondex.com/en/. Please take care to distinguish.
Market Instruments
Investors can trade over 80 currency pairs, 900+ global stocks, crude oil and natural gas, 15 major indices, precious metals, and exchange-traded funds on the FONDEX platform.
Minimum Deposit
FONDEX offer a single trading account for all investors, and it requires no minimum deposit, which sounds a good option for new traders to have a try.
Leverage
The maximum leverage available is up to 1:500 for major currency pairs in Forex, 1:100 for precious metals, energy, and indices, 1:20 for CFDs on stocks, 1:10 for exchange-traded funds 1:30 for cryptocurrencies.
Spreads & Commissions
Spreads start from 0.0 pips while average spreads on the EUR/USD and GBP/USD forex pairs are 0.28 and 0.71 pips respectively. Commissions are $2.50 per USD 100,000 for Forex, $0.01 per share (min. $1) for equities, $2.50 per USD 100,000 for crude oil and natural gas, $2.50 per USD 100,000 for metals and $0.01 per share (min. $1) for exchange-traded funds.
Trading Platform
Fondex cTrader can execute orders within milliseconds, and traders can make informed decisions using trading central's intelligent market analysis tools, real-time sentiment data, and in-platform market insights, easy to use & navigate. Fondex cTrader is built with the needs of real traders in mind, and the trading platform has over 70 built-in technical indicators, 26 timelines, and 4 chart types to provide traders with a superior trading environment.
Deposit & Withdrawal
FONDEX offers traders a wide range of deposit and withdrawal channels, mainly VISA, MasterCard, Maestro (for all currencies), SEPA Wire (for EUR), WebMoney (for EUR, USD), B2B in PAY (for Bitcoin, Litecoin, Bitcoin Cash and Ether), PayTrust (for THB, VND, MYR, and IDR), PayMero (for THB, VND, MYR, and CNY), EPS (for THB), no fees for incoming and outgoing deposits.
Trading Hours
Fondex trading hours follow standard market opening and closing times. So forex trading hours open at 22:00 GMT Sunday through to 22:00 GMT Friday. Metals operate from 23:00 GMT Sunday through to 22:00 GMT Friday. Stock indices and shares follow the opening times of their respective market operating hours.
Customer Support
Customer support is based in Cyprus, offering business hours support in a range of languages, available in English, French, Russian, Greek and Arabic 24/5 via online chat box and telephone support – +357 25028079.
Pros & Cons
| Pros | Cons |
| None | No regulation |
| Fake broker | |
| Fake official website | |
| Weak trading platform | |
| Poor customer support |
Frequently Asked Questions
Is This Fondex regulated？
No, this Fondex broker is just a cloned broker which pretends to be regulated.
What trading instruments does Fondex offer？
Fondex offers over 80 currency pairs, 900 global stocks, crude oil and natural gas, 15 major indices, precious metals, as well as ETFs.
What is the minimum deposit required by Fondex？
Fondex requires no minimum deposit to get started.
Keywords
- 5-10 years
- Suspicious Regulatory License
- cTrader
- High potential risk
News
News WIKIFX REPORT: 2022 Fintech Awards Spotlight: Fondex.pro, Award Nomination Announced
In November, Benzinga, a media and data provider bridging the gap between retail and institutional investors, will be holding its annual Benzinga Global Fintech Awards, a day of virtual dealmaking, networking, and recognition in the financial technology space.
2022-07-29 13:42
News Gold Steady Amid Ukraine Crisis and Potential Fed Rate Hikes
Gold prices remained steady on Wednesday as worries about the Ukraine crisis push demand for safe-haven assets, and Fed officials calls for sharper interest rate hikes aimed at keeping inflation in check
2022-03-29 11:07
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Samy
Egypt
They simply manipulated my account settings and increased the spread/markup 7 times more and even more when open a position. I noticed these changes and sent to Angelo ( X sales manager ) and he replied that the CEO is behind that because he is scared of the way i trade and make profits ( $1000 to $175000 in 3 days ).And in one trade i noticed that they deduct $15000 added to loss when i opened a new position because of the changes they made to my account and because ctrader system don't report the spread but report only commission in the position details.They told me to take the remaining money and not to trade with them again but even after i lost the remaining balance in another position.I tried to negotiate with them to take the extra spread they take from me but they refused.Domain fondex.com will forward you to fondex.com.sc if you are global customer ( It means Fondex.com owner he is the same owner of fondex.com.schttps://fsaseychelles.sc/regulated-entities/capital-markets - Mr. alexandros zisis katsaros as Securities Dealer accredited with Fondex Limited and he is the Group Chief Executive Officer - TOPFX LTD and Fondex ( https://cy.linkedin.com/in/akatsaros ).
Exposure
2021-12-02
Samy
Egypt
They simply manipulated my account settings and increased the spread/markup 7 times more and even more when open a position. I noticed that and sent to Angelo ( X sales manager ) and he replied that the CEO is behind that because he is scared of the way i trade and make profits ( $1000 to $175000 in 3 days ).And in one trade i noticed that they deduct $15000 added to loss when i opened a new position because of the changes they made to my account and because ctrader system don't report the spread but report only commission in the position details. When market was going against me my loss was faster because of the crazy spread/markup they added to my position and losses were too much. thy told me to take the remaining money in my account and not to trade with them again but even after i lost the remaining balance in another position. I tried to negotiate with them to take the extra spread they take from me but they refused
Exposure
2021-12-01
Mayaz Ahmad
Bangladesh
A client of fondex has complained that he has incurred a huge loss by investing in this broker and the broker cannot provide valid reasons for this loss. The client has recommended not to invest in this broker.
Exposure
2021-05-31
曲散人离、
Peru
I love working with fondex! Well, at first I had some doubts but your team responded ultra-quickly and resolved them! Who doesn't love this speed and quality of care??!! Live chat is the most wonderful invention.
Positive
2022-11-21