European traders will appreciate the tight spreads and user friendliness of EuropeFX forex broker. As a member of the Investor Compensation Fund (ICF), clients are protected against brokerage failures with a total credit line of EUR20,000. Furthermore, EuropeFX offers excellent customer support and education tools. The only downside of using EuropeFX is the high minimum deposit. But, there are some good reasons to join this forex broker and get started today.
The broker is regulated by the Cyprus Securities and Exchange Commission (CSEC). It adheres to MiFID II, which is a standard regulatory framework for all securities-related services in the European Economic Area. Moreover, it is supervised by the German Financial Market Supervisory Authority (BaFin). The EU-based regulatory body regulates the services of the broker, but it has no such requirement for Cyprus-based traders.
The minimum deposit at EuropeFX is $200. However, the broker strongly recommends deposits of at least $1000 in order to prevent identity theft or money laundering. Besides, EuropeFX accepts a variety of deposit methods, including Visa or MasterCard, debit and credit cards, Skrill, Sofort, Giro Pay, TrustPay, and Przelewy. For depositing, the broker will request for your ID, your passport or driving license, a valid National Insurance Number (NIN) or your Tax Identification Number (TIN) from other countries.
The firm has no transaction fees and charges only a small amount of money to open a demo account. Customers can deposit up to EUR50,000, but it is better to use an e-wallet or credit/debit card since bank wire transfers can take a few days to reach your account. Withdrawals can also be made through e-wallets or credit/debit cards. It is important to note that the currencies that are being used for deposits and withdrawals should be of the same currency as the deposits.
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