Fondex is a globally recognized financial asset management firm and brokerage which was established in 2017 in the Seychelles. The main objective that Fondex serves is as a provider of trading solutions and products.
Fondex has between 50 and 100 employees and has offices in Seychelles and Cyprus.
Is Fondex Regulated?
Yes, Fondex is the trading name of TopFX Limited, which is a Cyprus Investment Firm (CIF). Fondex is regulated and authorized by the Cyprus Securities and Exchange Commission (CySEC). Fondex is required to comply with all requirements of the Markets in Financial Instruments Directive (MiFID II).
In addition, Fondex Limited is also registered under the laws of Seychelles with regulation through the Financial Services Authority (FSA), with a corresponding Securities Dealer License.
Is Fondex Regulated in the United States?
No, Fondex is not regulated in Virginia or any other US state.
Is Fondex Regulated in Europe?
Yes, Fondex is regulated in Europe by the Cyprus Securities and Exchange Commission (CySEC).
Is Fondex regulated in a Tier-1 Jurisdiction?
No, Fondex is not regulated in a tier-1 jurisdiction.
Tier-1 Jurisdiction provides forex brokers with the license to provide financial services in Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Israel, Japan, Luxembourg, Netherlands, New Zealand, Norway, Puerto Rico, Singapore, Sweden, and Switzerland.
Is Fondex regulated in Tier-2 Jurisdiction?
Yes, Fondex is regulated in tier-2 jurisdiction.
Tier-2 Jurisdiction provides Fondex with the license to offer financial services and operate in the British Virgin Islands, Cayman Islands, Cyprus, Italy, Malaysia, Mexico, Poland, Portugal, Spain, and Taiwan.
What are the Platforms and Tools for Forex Trading in Fondex?
With Fondex, forex traders are provided with access to only one trading platform, namely cTrader. cTrader is a popular and dynamic trading solution that can be used across several devices, including:
cTrader offers forex traders the ability to trade a variety of financial instruments. Forex traders can use innovative technical analysis tools and a variety of features to analyze financial markets and make informed trading decisions.
With the Copy Trade feature that cTrader offers, forex traders can either follow forex signals, or they can become a signal provider, allowing them to earn from sharing forex trading strategies.
With cTrader, forex traders have the freedom to automate their forex trades by using pre-developed cBots, or by creating their own.
Does Fondex Have a News Blog for Forex News?
Yes. Fondex offers a free news blog for forex news on the official website.
Does Fondex Have a Traders Dashboard?
Yes, Fondex has a Traders Dashboard in the form of a workspace that can be accessed once forex traders have registered and verified their trading account.
Does Fondex Have an Educational Section?
Yes, Fondex has an education system designed for forex traders. The Trading Education section that Fondex offers is free of charge and can be accessed from the homepage without registering an account.
What is the content of Fondex Forex Education?
Fondex offers educational articles on the official website which are updated frequently and which that cover a variety of topics, including:
- Trade with Weighted Moving Average
- What Are Keltner Channels?
- Exponential Moving Average (EMA) versus Simple Moving Average (SMA)
- What is the Money Flow Index?
- What are Donchian Channels?
- What is the ADX Indicator?
- What is the Awesome Oscillator?
- What is the Parabolic SAR?
- What is the Ichimoku Indicator?
Is Fondex Legit?
Yes, Fondex is a legit Forex Broker and Trade Platform that has regulation through CySEC and FSA.
Is Fondex Safe?
Yes, Fondex is a reliable and safe Forex Trade platform where regulation and stringent safety protocols are concerned. Fondex is regulated by several entities, namely:
- The Cyprus Securities and Exchange Commission (CySEC) in Cyprus
- The Financial Services Authority (FSA)
Fondex is required to ensure that client funds are kept in segregated accounts with top-tier banks. In addition, Fondex must audit financials, accounts, and other components of its operations and submit these reports to regulatory entities. This ensures that Fondex can fulfill its financial obligations.
Is Fondex a Good Broker?
Yes. According to the Forex Suggest review, Fondex is a good broker for security, trading speed, online support, and for cryptocurrencies.
Fondex offers some of the best security in the industry and ensures that client funds are kept in segregated accounts.
The exact trading speed of Fondex is not known. However, the official Fondex website indicates that it offers reliable execution without requotes.
Online support provided by Fondex is through the live chat option, which is available throughout the official website.
In terms of cryptocurrencies, Fondex offers the trade-in XRP, LTC, ETH, BTC, and DSH.
What is the Offering of Investment in Fondex?
Offerings of Fondex can be found below.
Does Fondex have Nasdaq?
Yes, Fondex offers share CFDs that can be traded on US TECH 100.
Nasdaq, known as the US Tech 100 or the Nasdaq composite, is the second-largest stock exchange by market capitalization. Nasdaq tracks the top technology stocks in the US.
What are the Awards of Fondex?
Forex Trading Platform Fondex’s awards are listed below.
- Best Technology Corporate Leadership Winner – CFI.co – 2019
- FMLS – 2018
- Best Trade Execution – World Finance – 2018
- Best Cryptocurrency Broker – World Finance – 2018, and more.
How to Use Fondex for Forex trading?
To use Fondex, a forex trader should have the necessities below:
- Traders must have a copy of their identity document along with proof of their residential address for Fondex’s “Know Your Client” or KYC process.
- Traders must be 18 years old or older to register an account.
Once a forex trader meets the conditions above, they can register a forex trading account to use the services of Fondex.
How to open a Forex trader account with Fondex?
To open a Forex Trading account with Fondex, a trader should follow the steps below.
- Forex traders can navigate to the Fondex official website and select “Start Trading Now” from the homepage.
- Traders will be required to register on the Fondex website before they can start the application process. The online registration will require the email address of the forex trader, a user-selected password, country of residence, and mobile number before selecting “Open Trading Account.”
- The trader will be redirected to the cTrader WebTrader where they can complete their registration.
What are the Forex Trader Account Types with Fondex?
Forex Trading Platform and Financial Asset Management Institution Fondex have five different account types that are offered.
Fondex Account Types are listed below.
- Demo Account
- Islamic Account
- Standard Account
1. Demo Account
Fondex offers forex traders with the option of registering for a demo account. This account can be used by beginners who need to practice trading. It can also be used by advanced forex traders who want to test their forex trading strategies in a safe, risk-free trading environment.
2. Islamic Account
Fondex offers Muslim traders who follow the Sharia law with the option of converting their live trading account into that of an Islamic or Swap-Free Account. With the Swap-Free status, Muslim traders are exempted from swap fees or overnight charges on trades that are kept open for a night or longer.
3. Standard Account
Fondex only offers one standard live trading account to traders, featuring dynamic and unique features. The Standard Account is used by both beginners and professional traders alike, offering competitive trading conditions. The features of the Standard Account are as follows:
- Access to use cTrader either on web, desktop, or mobile
- Commissions from $2.5 per side per $100K traded volume for forex, energies, and precious metals
- Commissions of $1 charged per side for 100 shares and ETFs
- Commission-free trading on indices and cryptocurrencies
- Spreads from 0.0 pips
- Leverage of up to 1:500 for retail clients
- Access to Micro lot trading for forex, precious metals, energies, and cryptocurrencies
- Minimum trade size of 1 lot for shares and ETFs
- Access to forex, shares, indices, precious metals, energies, ETFs, and cryptocurrencies (more than 1,000 in total)
- Stop-out level of 30%
- No minimum deposit
- Access to one-click trading
- Access to trade directly from charts
- The ability to use hedging strategies
- Negative balance protection which is automatically applied to the account
- Access to all types of market execution
- The ability to use all trading methods, including manual, copy, and automated trading
- Cross-device trading between desktop, web, and mobile
- The option to convert the account to an Islamic option once the live account has been verified
How to Withdraw Money from Fondex?
To withdraw money from Fondex, the following should be done:
- Forex traders can log into their Fondex trading account and click the “Withdraw” button next to their preferred payment method.
- Forex traders will be redirected to Fondex cTrader Web and the official Withdrawal window.
- The forex trader can enter their details and complete their withdrawal request.
- Alternatively, withdrawal requests can also be made through the cTrader platform on desktop and mobile by selecting the “Deposit/Withdraw” option.
- Traders must note that withdrawals can only be made through the same way that the deposit was made.
- In addition, Fondex does not support third-party payments. The bank account of the forex trader must reflect the name in which they registered their live trading account.
- With debit/credit cards, Fondex may request a copy of the card to verify that it is in the name of the trader.
How many days do deposits take with Fondex?
Deposits made with Debit/Credit Cards, WebMoney, PayTrust, Paymero, and EPS are instant, whereas other payment methods take up to five working days to reflect in the trading account.
What are the costs and fees with Fondex?
There are four types of costs with Fondex, namely spreads, commissions, swap fees, and margin requirements.
The spread is the difference between the bid and the asking price, which can fluctuate depending on market conditions. Commissions are typically a flat fee or rate charged per lot, per side on certain trading accounts.
Swap, overnight, or rollover fees are charged on certain positions that are held open overnight or over weekends after trading has concluded. Traders can either be debited or credited swaps depending on whether they hold a long or a short position.
Margin requirements or calls are collateral and must be paid by the trader at the beginning of the trade. Leverage lowers these requirements significantly. However, leverage must be used wisely.
Swap fees and margin requirements are not given on the official Fondex website but can be accessed from the cTrader trading platform once traders have registered a live account.
What are the Trading Fees with Fondex?
The Forex Trading Fees with Fondex are below.
The Swap-Free Standard STP Account:
- Spreads: from 0.0 pips
- Commissions from $2.5 per side per $100k traded volume for forex, energies, and precious metals
- Commissions of $1 per side for 100 shares and ETFs
What is the minimum deposit in Fondex?
There is no minimum deposit requirement for Fondex.
What are the contract specifications in Fondex?
Does Fondex have promotional offers?
No, Fondex does not have promotional offers.
Does Fondex have a welcome bonus?
No, Fondex does not have a welcome bonus for new forex traders.
A welcome bonus is offered to traders who register a real account for the first time and provides them with trading credit.
Does Fondex have a deposit bonus?
No, Fondex does not have a deposit bonus.
A deposit bonus is granted to forex traders either when they register a new account or with every deposit, according to the discretion of the broker.
Is there a commission-free trade bonus in Fondex?
No, Fondex does not offer forex traders with a commission-free trade bonus.
Is there a VIP bonus in Fondex?
No, Fondex does not offer forex traders with a VIP bonus.
Can you start trading with no money at Fondex?
Yes, you can start trading with no money at Fondex. However, forex traders are urged to make a deposit into their trading account to cover margin requirements on trades.
How does leverage work with Fondex?
Fondex offers leverage of up to 1:500. Traders can adjust this level from their account settings.
Leverage is a useful tool that allows traders to open larger positions by lowering the margin requirement or call that is needed at the start of each trade as collateral. Leverage can maximize the trader’s profit potential, but it can also expose traders to significant losses.
Where are the headquarters of Fondex?
Fondex is headquartered in Mahe, Seychelles, with offices in CySEC.
Who is Fondex’s CEO?
Fondex is the trading name of TopFX Limited, whose CEO is Alex Katsaros, who has held the position for the past five years, with a total of 8 years with the company. Alex Katsaros graduated from the University of Macedonia with his MBA specializing in finance and business administration.
What are the social media accounts of Fondex?
Traders can follow Fondex on the following social media accounts:
How many employees do work for Fondex?
There is no official count on the employees for Fondex. However, according to the size of operations, Fondex has between 50 and 100 employees.
What are the opinions about Fondex?
Fondex has built an exceptionally good reputation in the forex industry over the years. Fondex is known for providing a very comprehensive trading account with competitive trading conditions. Fondex is also well-known for being dedicated to ensuring that the needs and objectives of its traders are met.
What are Fondex Contests?
Fondex does not run any contests.
Fondex does not currently have any contests, and there are no announcements on the official websites that indicate whether there will be contests held in the future.
Does Fondex have online support?
Yes, Fondex offers online support to forex traders through the live chat option that is available throughout the official website.
Does Fondex offer demo accounts for Forex trading?
Yes, Fondex offers a free demo account for all new traders. The demo account can be opened with the following steps:
- Traders can navigate to the official Fondex website and select “Open Demo Account” from the homepage.
- Next, forex traders can enter their email address, user-selected password and select their country of residence before providing their mobile number. Once complete, the trader can select “Open Trading Account” to proceed.
- The forex trader will be redirected to the cTrader WebTrader automatically, where they can begin to use their trading account. Traders must note to access all features on the demo account. Traders must activate their accounts by providing additional details.
Does Fondex have a mobile app for Forex trading?
Yes, Fondex offers mobile trading through the cTrader mobile application for Android and iOS.
cTrader is a popular and trusted trading platform that offers forex traders with a plethora of trading opportunities across a variety of mobile devices. When using the mobile app, forex traders have access to all account features and possibilities, mirroring what they can do and use on the desktop and web versions.
Does Fondex publish an economic calendar?
No, Fondex does not publish an economic calendar on the official website.
An economic calendar is a crucial trading tool that provides traders with the ability to view relevant economic information which is scheduled to be released. Such events could impact on the financial markets and, subsequently, the trader’s trading.
What is the communication information of Fondex?
Fondex has one main telephone number and one main business address. Fondex can be contacted telephonically on +24 846 719 87.