9 /10
Overall Rating

Fondex Review

Read this Fondex broker review before opening your account. Is this a Reliable Forex Broker? Find out more with our AtoZ Markets Forex broker review of Fondex. 

Fondex is a multi-asset financial broker, offering traders from around the world the ability to trade over 1000 instruments, across Forex, Shares, Indices, Energies, Metals, ETFs & Cryptos, all from one platform. Fondex cTrader also offers 4 different ways of trading, on the same interface – manual trading, copy trading, automated trading, following trading signals. The Company is authorized to provide the investment services specified in these Terms of Business.

We have done an extensive review of the company and found it legit and recommendable. This broker provides maximum flexibility on deposit requirements for all traders. At AtoZMarkets.com, we have a readers-first policy. Thus, we always put our readers’ safety as a priority in our business line. We will never satisfy ourselves with Brokers’ public information, however, go in-depth. Often we will also open live and demo accounts and test brokers directly.

For the above mentioned, we stand on our toes checking all the ins and outs in a broker’s business history, biography, and reputation. The very same standards apply in the case of this Fondex broker review. Please go through this article on how we conduct our broker reviews.

Overview

Company
9 /10
Trust
9 /10
Trading Platform
9 /10
Account Types
9 /10
Cyptocurrency
9 /10
Costs
8 /10
Customer Support
8 /10
Regulation
8 /10

Company

9 /10

Fondex is a trading name of TopFX Ltd, which is registered as a Cyprus Investment Firm (CIF) and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 138/11. The broker offers trading opportunities on more than 1,000 tradable assets, including Forex, Indices, Shares, Metals, Energies, Cryptocurrencies and ETFs, from a single trading account. Trading on Cryptos and Indices is completely commission-free, with the lowest cTrader commissions globally on Forex, Shares, ETFs, Energies, and Metals.

Fondex offers the globally-recognized and multi-award-winning cTrader for desktop, web, and mobile. This trading platform has helped Fondex to receive awards for Best Trade Execution among others. Within this trading platform, traders can access free, in-platform trading signals from Trading Central and Autochartist. Moreover, there is an option to copy trade or use cBots to automate their trades.

Pros & Cons

Pros

● Regulated by CySEC
● 1,000+ tradable assets across Forex, Shares, Indices, Energies, Metals, ETFs and
Cryptos
● Lowest cTrader commissions and raw spreads starting from 0.0 pips.
● The award-winning cTrader
● Copy and automated trading service on Fondex cTrader
● Free, in-platform signals from Trading Central & Autochartist
● Swap-free accounts are available

Cons

● Limited trader education services
● Live chat often needs a longer waiting time

Trust

9 /10

Fondex has a fully transparent platform that features a wealth of information on your positions’ history and performance. They do not manipulate price as they believe trading as a zero-sum game. Fondex offers optimal trading conditions with ultra-fast execution that helps traders to execute trading plans efficiently. Moreover, due to the brokers strict regulation with CySEC, Fondex provides its clients with Negative Balance Protection, while also being a member of the Investors Compensation Fund and keeping clients' funds in segregated accounts.

Trading Platform

9 /10

Fondex offers the cTrader platform, where traders can choose to trade manually, use free, in-platform trading signals, copy trade and automate their trades with cBots. The ability for multi-way trading provides clients with the flexibility to combine multiple trading methods on the same platform. Furthermore, Fondex cTrader is available on desktop, web, and mobile.

#1 Fondex cTrader Trade

Fondex cTrader is designed to accommodate the needs of both beginners and experienced traders, with technical analysis and charting tools. Advanced traders will appreciate the array of order types and advanced risk management features that enable them to lock in profits and minimize losses.

The platform is also equipped with free, actionable, in-platform signals from Trading Central, as well as with technical analysis patterns from Autochartist. These signals, that extensively cover the Forex and Equities market, allow both beginners and more experienced traders to inform their strategies and make better trading decisions

#2 Fondex cTrader Copy

Fondex cTrader Copy is the platform’s copy trading functionality. Fondex account holders can either become Strategy Providers and share their trading strategy for a fee or become followers and copy the trades of other Strategy Providers. As an investor who wishes to follow a strategy, Fondex cTrader Copy offers performance analysis, history, and reporting tools to evaluate and rank strategies according to their profit percentage.

#3 Fondex cTrader Automate

Fondex cTrader Automate is the platform’s automated trading functionality. Traders can choose their preferred robot (cBot) and have it execute trades on their behalf, the same way MetaTrader uses EA’s. cBots open and exit trading positions automatically, without any intervention from the trader, based on sets of predefined parameters. In addition, advanced traders can develop and optimise their own cBots.

Account Types

9 /10

Fondex is offering its clients one account type plus a Swap-Free account for Islamic traders. The Fondex Trading Account provides traders with all-inclusive access to all of the tradable instruments offered, as well as multiple options for standard and advanced order management, and tools for enhancing their trading efficiency. 

Fondex Trading Account

Fondex requires zero deposit to start trading with them. Given its CySEC license, the broker offers leverage up to 1:30. Moreover, Fondex charges ultra-low commissions - $2.5 per lot per side for Forex, Energies & Metals, and $1 per side for 100 Shares & ETFs - along with zero commissions on Indices and Cryptos.  

Other features are mentioned below:

Micro Lot Trading : Forex, Precious Metals, Energies & Indices 

Stop Out Level : 50%

Hedging Allowed : Yes

Negative Balance Protection : Yes

Trading Methods : Manual, Copy and Automated Trading

Cryptocurrency

9 /10

You can trade more than 10 cryptocurrency pairs on Fondex cTrader and experience the superiority of this award-winning, DMA platform. Moreover, you can follow tested cryptocurrency strategies on Fondex cTrader Copy, and automate your trades with cBots on Fondex cTrader Automate.

Costs

8 /10

Fondex seems to be charging the lowest cTrader commissions compared to other brokers offering the cTrader platform. The broker's charges are as follows:

  • $2.5 per lot per side for Forex, Energies & Metals
  • $1 per side for 100 Shares & ETFs
  • Zero commissions on Indices and Cryptos

For deposit and withdrawals, Fondex charges zero fees on them but traders may incur fees, charged by their selected payment providers.

Customer Support

8 /10

Traders can access the contact information of Fondex easily from the broker’s homepage. Fondex contact methods include live web chat, email and a feedback form, all available on the "Company" tab at the broker's website. Traders can also contact Fondex Support via in-platform Live Chat, directly on Fondex cTrader.

The Live Chat Function is available 24/5, and clients are expected to be initially greeted with an automated message until a Support agent picks up their inquiry. 

Regulation

8 /10

Fondex™ is a trading name of TopFX Ltd, which is regulated by CySEC (License No: 138/11) and FSA Seychelles (License No: SD037).

Conclusion

Fondex was established in 2017, it is an online Forex and CFD broker, based in Cyprus. Fondex™ is a trading name of TopFX Ltd, which is registered as a Cyprus Investment Firm (CIF) and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 138/11.

The broker offers the ability to trade more than 1,000 trading instruments across Forex, Indices, Shares, Metals, Energies, Cryptocurrencies and ETFs, from one trading account. Trading on Indices & Cryptos is commission-free, with low commissions for Forex, Energies, Precious Metals, Shares and ETFs. The commission rates of this broker are very competitive, and traders are also offered access to raw spreads starting from 0.0 pips, as well as the ability to open Swap-Free accounts.

Based on our thorough analysis, Fondex is a promising entry in the online CFD trading world. The broker is highly regulated in Europe, with the main focus on providing its customers with some of the most competitive trading conditions, combined with the sophisticated and award-winning cTrader.

Reviewed By

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