General Information
Registered in South Africa, Egoli Forex is forex broker offering a series of trading instruments to both retail and professional traders, including Forex, Metals, Oil, Indices through the advanced MT4 trading platform. With the VRN Capitals platform, investors have the flexibility to choose from five trading accounts, with leverage up to 1:1000, spreads from 0.1 pips.
Egoli Forex does not hold any regulatory license to show it operates legally. Please be aware of the risk involved.
Market Instruments
With the Egoli Forex platform, diversified range of trading assets can be traded, including pot Forex, Spot Metals, Futures, Indices, Stocks, and Options Trading.
Minimum Deposit
To start trading with Egoli Forex, the minimum deposit beginning at $1,000 (ZAR 15,000) is needed for standard accounts, which is absurdly high compared with many legit forex brokers requirements. Please be aware of the risk.
How to open an account with Egoli Forex？
Opening an account with Egoli Forex is an easy and simple process:
1. Click the OPEN ACCOUNT link, and fill up some required details on the popping-up page.
2. Upload your personal data for this company to verify your details, including one photo ID (i.e. passport or any other government-issued identification document bearing a photograph), a proof of address (i.e. utility bill, drivers license, bank statement, etc.), and one proof of banking or proof of SARS registration.
3. Fund your account and start to trade with this forex broker.
Demo Account Available
Aside from live account, demo account is also available on this brokerage platform. A demo account is an excellent tool for clients to gain a feel of this platform and practice their trading skills without risking their real capitals.
Leverage
With a live trading account at Egoli Forex, traders can enjoy a maximum leverage of 1:100, which is higher than the levels regarded appropriate by many regulators, with the maximum leverage for major forex up to 1:30 in Europe and Australia, and 1:50 in Canada and U.S.
As leverage can also cause serious fund losses, it is wise for beginners to choose a smaller amount at first until they gain more experience.
Spreads & Commissions
Egoli Forex boasts that it offers extremely competitive spreads and charges fixed trading fee of USD 15 per lot for various financial instruments trading.
Trading Platform
What Egoli Forex offers is not the industry-leading MT4 or MT5 trading platform, a EgoliFX Desktop Trader and Mobile Trading Apps instead.
Deposit & Withdrawal
The minimum deposit to invest with Egoli Forex is $1000 (ZAR 15,000), and you can choose to open a live account and deposit in USD OR ZAR.
As for withdrawal, you need to complete a withdrawal request using a withdrawal request form and email it to info@egolifx.com. Please note this company does not accept or consider any third party deposits or withdrawal requests.
Customer Support
For some basic and common problems, clients can visit the FAQ section and if they need staff service, the Egoli Forex customer support can be reached through the following channels:
Telephone: +27-0112342717
Email: info@egolifx.com
Company Address: Egoli Forex (Pty) Ltd, Unit 16, Rivonia Gate Office Park
381 Rivonia Boulevard, Rivonia, Sandton, 2191
A Contact Form (fill up required information, and wait to be connected)
Or you can also keep up with this forex broker on some social media platforms, such as Facebook, Youtube, Instagram, Linkedin.
Risk Warning
There is a level of danger that comes with trading on the financial markets. As sophisticated instruments, foreign exchange, futures, CFDs, and other financial contracts are typically traded using margin, which significantly increases the inherent risks involved. Therefore, you should consider carefully whether or not this sort of investment activity is right for you.
The information presented in this article is intended solely for reference purposes.
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