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Fondex Review & Rating 2022
Visit FondexRead 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
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
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
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
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
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
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
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
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.
good conditions for successful trading
i wanna say thanks for fast money transfers, when i need money i got it. all withdrawals go with zero commissions. orders execution is very fast and direct liquidity. about 600+ assets across 6 asset classes for included manual, copy and automated trading. Overall impression abotu the company is great
I'm fond of trading crypto, so I can note that the conditions between all ctrader brokers here are the most attractive actually. There are also low spreads on indices, gold and oil. It's pretty interesting I think.
I would not call the Fondex broker outstanding. Yes, it has several features unavailable from other brokerage companies, but they aren’t unique still. Ctrader with its automation process is available in many other companies. Copy-trade solution is good though. I have found many good traders with a decent performance here. I’m not the biggest fan of manual trading, so I had to choose a trading bot in the ctrader store or code algorithms by myself. Zero commissions is a great plus.
I was looking for a broker with normal commissions and spreads for a long time. To be honest, this is a tough job. It is certainly possible to find such a broker, but there are no other important things, for example, there is no regulation, no license, few assets or a weak trading platform. My search was over when I found Fondex.
This broker meets all my wishes, but the cTrader trading platform was new to me. I didn’t understand it yet and didn’t know how to use it correctly.
It's good that there is a demo account and you can learn how to use it without loss.
As it turned out, this platform has excellent functionality for trading analysis and many other good features. For example, here you can create a pending order during the weekend.
A particularly important function of this software is that it is not possible to trade against a trader with a broker. This means that if a broker has this trading platform, then the broker is honest and all your orders have market execution. It is important.
In addition, there are 0 commissions on some assets, low spreads and a good withdrawal of funds.
I can say that I enjoy trading cryptocurrency with this broker. The trading conditions for these assets suit me. The broker allows to trade cryptos without commission. So, the broker does me a good favor because I trade cryptos very intensively. It’s very good when I don’t need to pay a commission on each trade. It allows me to save on each trading position.
You know cryptos are very liquid assets and therefore they don’t require high leverage. For example, with this broker, I can trade cryptos with 1:10. That’s more than enough to earn good money trading cryptos.
I can’t say that this broker offers too many digital coins to trade, but these are the most liquid coins with the biggest capitalization, namely, Bitcoin, Ethereum, Dash, Litecoin, and Ripple.
Cool broker, easy to work with! I like Fondex as a broker because of its simplicity, clear interface in the application, low spreads. I have been trading with Fondex for more than a year now and I have a good income, which is a plus for my broker. At the initial stage I got training with the broker. I also tried my forces on demo account. The broker helped me not to lose my money and to keep my interest in investments. I learned the basics of trading on the demo account. After that, I opened an account, made investments and developed a risk-based strategy. Also, the technical support service helped me and answered many questions.
I think that every trader, sooner or later, chooses a broker that has small spreads.
I'm lucky. I have an account with a Fondex broker. There are very low spreads, from $ 3. Also, this broker has a convenient trading platform cTrader.
As far as I know, this broker has the best trading conditions among cTrader brokers.
Scalping is also allowed here. I know many traders will love this. Because I can read about it in different Fondex reviews.
Fondex is a suitable broker for you if you want to trade with ctrader trading platform. I know that it is not an easy task to find a broker with competitive trading conditions if you are the fan of ctrader but fondex specialises on this platform. The spreads there are really nice. For example, the spread for btcusd starts from 3 usd and there is no commission. Personally, I failed to find any better trading conditions for this trading platform.
Apart from trading conditions, the broker also offers some really nice features. For example, I liked the function which is called negative balance protection. Basically it doesn't allow traders to go in the red especially when they trade with leverage. This actually made me reconsider my attitude to such a trading style, because now I realise that the risk of losing more than I can afford is eliminated and I can freely trade with leverage.
I have been trading with Fondex broker for three years now, and I sometimes do copy-trading to understand the tactics of very successful traders.
The broker offers leverage up to 1:500. Unless large leverage is used, forex is much less risky than the stock market. Of course, in this case you will have to "sweat" to get the same profit.
Forex, in fact, becomes a game if a person comes to this trading platform in order to get some thrill (having lost money or become even richer - from time to time, of course). But if one takes it seriously, forex is a calculator and nothing more.
What leverage do you use when trading with Fondex broker?
It’s very good that this broker offers the only one trading account. It’s very common thing today when brokers offers to choose from several trading accounts, but the very idea of a universal account is quite advantageous. The broker’s account can potentially suit both scalpers and long-term investors. Floating spreads are quite tight. You need to pay a commission for this, but it’s a normal practice in the brokerage industry. This commission will not rip you off, especially if you forecast the market correctly and open your trades at the right time.