Fondex Review 2019 | Is Fondex a Scam or Legit Forex Broker?

Read our Fondex review to find out if Fondex is a scam or a reliable forex broker. Unbiased Forex brokers reviews combined with user comments.

Average broker rating

3.2/ 5

Rating breakdown

Protection & Regulations
60% Complete (danger)
3.0/5
Trading platforms
40% Complete (danger)
2.0/5
Tradable Products
100% Complete (danger)
5.0/5
Deposit and withdrawal
100% Complete (danger)
5.0/5
Trading Fees
20% Complete (danger)
1.0/5
Support
60% Complete (danger)
3.0/5
Fondex
Fondex Overview

Fondex is a multi-asset financial broker that was established in 2017. The brokerage offers traders from around the world the ability to trade over 1000 tradable instruments, across 7 asset classes, all from one platform.

# Broker's Features FONDEX Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review Fondex.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. Fondex offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Stocks, Crypto.

Tradable Products: Having looked at the demo Fondex cTrader platform we can confirm that Fondex traders have access to over 1000 tradable financial instruments across 7 global asset classes including forex, shares, precious metals, energies, ETFs, and cryptocurrencies.

Broker Type: Many types of brokers can be found in the most dynamic market in the world. Fondex is ECN, Market Maker, No dealing desk, STP.

Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. Fondex recommended minimum capital is $0.

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. Fondex is regulated by CySEC, MiFID. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Investor Protection & Regulations: The broker is registered as a Cyprus Investment Firm (CIF) and licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 138/11. Moreover, Fondex offers traders negative balance protection, secure and encrypted deposits and withdrawals, and holds client funds in secure and segregated Tier-1 global bank accounts, according to the broker’s own information and CySEC regulation requirements.

Languages Available: Next lets have a look at each broker's different Language options. Fondex offers Arabic, English, French, German, Greek, Indonesian.

Payment methods: Next lets have a look at each broker's payment options. Fondex offers Credit Card, Neteller, Skrill, Wire Transfer different payment methods for each account types.

Deposit and withdrawal: Fondex provides their traders with a wide array of payment methods for deposits and withdrawals. These include Visa, Maestro, Mastercard and an array of e-wallets including Skrill, Neteller as well as bank transfer.

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, Fondex makes cTrader available to clients.

Web & Desktop Trading Platforms: Fondex offers the cTrader platform where traders can choose to trade manually, copy trade or automate their trades with robots (cBots). The ability for 3-way trading provides clients with the flexibility to combine multiple trading methods on the same platform.
Mobile Trading Platforms: The Fondex cTrader trading platform is fully compatible and optimized for use on mobile devices including smartphones and tablets. Traders can download the Fondex mobile application for free from the Apple App Store and the Google Play Store for iOS and Android devices respectively.

Other

Promotions
Unfortunately, Fondex does not provide their traders with any bonuses or promotions for trading with them. This comes as a result of being CySEC regulated. This authority does not permit its member brokers to offer trading bonuses.

Support
Fondex provides their clients with customer support that’s available 24 hours a day, 5 days a week. Traders can reach Fondex’s dedicated support team via email, telephone, WhatsApp, Telegram and live chat. Additional methods of support include an extensive FAQ page and connection via social media including on Facebook, Twitter, LinkedIn, Instagram, and YouTube.

Recup
Fondex is highly regulated across Europe, supports a wide array of tradable assets, features a sophisticated trading platform, and offers favorable trading conditions and fees, as you can see above. Although Fondex was established in 2017, they hold many of the same features and attributes as the most established and reputable brokers in the industry.

Final Thoughts
Fondex could be an especially attractive broker for clients with relatively small deposit size who wish to benefit from ECN execution and a low spreads / commissions model. Higher-volume traders may negotiate volume-based commission discounts.

Trading Experience
Fondex has a well-rounded and professional offering for traders looking to trade a very wide range of assets in the form of CFDs, particularly in Forex, by use of an ECN/STP execution model.

People Also Asked

Is Fondex regulated?
Yes, Fondex is regulated by top-tier regulators, CySEC, MiFID inclusive.
Where is Fondex based?
Fondex is based in N/A
How does Fondex make money?
Fondex charges a spread between the bid price and ask price. In some instances it also charges a commission.
How do I deposit in Fondex account?
With Fondex you can deposit money via the following means; Credit Card, Neteller, Skrill, Wire Transfer.
How do I withdrawal in Fondex account?
Fondex lets you request a withdrawal of funds from your account via the following means; Credit Card, Neteller, Skrill, Wire Transfer.
What is the minimum deposit for Fondex?
Fondex has $0 minimum deposit.
What are the available account base currencies with Fondex?
Fondex trading accounts are offered in N/A. If your country's currency isn't included in the list, you will need to open an account with another currency base.
What is the max leverage in Fondex?
Fondex has a maximum leverage is 1:30 for professional traders.
How do I open an account with Fondex?
Opening an account with Fondex is a three-step process. First fill out the registration form, second is to send verification details to the verification department and lastly is to fund your account.
Does Fondex use MetaTrader?
Fondex platforms: No, Fondex do not use MetaTrader but it uses the following platforms: cTrader
What type of broker is Fondex?
Fondex appears to be a ECN, Market Maker, No dealing desk, STP broker which offers market access to a variety of traders.
Does Fondex accept US clients?
No
Does Fondex offers Islamic accounts ?
Yes
What financial instruments can I trade?
You can trade a wide variety of instruments with Fondex: You can trade a wide variety of instruments with Fondex: Currencies, Commodities, Indices, Stocks, Crypto