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Hong Kong|1-2 years|
White label MT5|Regional Brokers|High potential risk|


Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

Server Name
EncoreFX-Demo MT5
Server Location Hong Kong


+852 65752219


No valid regulatory information, please be aware of the risk!

VPS Standard
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Contact number

Chinese (Simplified)

+852 65752219

Broker Information


Company Name

EncoreFX Limited

Company Abbreviation


Platform registered country and region

Hong Kong

Company website

Pyramid scheme complaint


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Warning: Low score, please stay away!
Previous Detection : 2024-06-24
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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EncoreFX · WikiFX Survey

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EncoreFX · Company Summary

EncoreFX Review Summary
Company Name EncoreFX Limited
Registered Country/Region Hong Kong
Regulation No Regulation
Market Instruments Forex, Metals, Energy, Indices, etc.
Demo Account N/A
Leverage 1:200
Spread 1.8 pips
Commission N/A
Trading Platform MT5
Minimum Deposit $10 (Mini)
Regional Restrictions the United States, Japan, Afghanistan, Algeria, Angola, Bosnia and Herzegovina, Cuba, Guyana, Iran, Iraq, Laos, Myanmar, North Korea, Papua New Guinea, Sudan, Syria, Uganda, Yemen
Customer Support Email:, Tel: +853 2833 6883, WhatsApp
Company Address Registered Address: Room 20 UNIT B3, 07/FL TUEN MUN Industrial Centre, NO. 2 SAN PING CIRCUIT, TUEN MUN HK;
Business Address: AQ 1/F, S/N, Centro Comercial Jardim da Cidade, Barbossa Avenue, Macau

What is EncoreFX?

EncoreFX Limited is a financial company based in Hong Kong. Currently, it is not regulated by any known financial authority, which presents significant risk factors for potential clients. Without an official regulatory status, there are concerns over its operational legitimacy and the safety of client funds.

EncoreFX's homepage

Pros & Cons

Pros Cons
  • MT5 Supported
  • No Regulation
  • Low Minimum Deposit
  • Several Subpages Malfunctioned
  • Strict Regional Restrictions


  • MT5 Supported: EncoreFX supports the utilization of the MetaTrader 5 (MT5) platform, one of the most comprehensive trading platforms in the industry.

  • Low Minimum Deposit: With a minimum deposit requirement of just $10, EncoreFX makes it possible for traders of all levels, including those with limited starting capital, to engage in trading.


  • No Regulation: EncoreFX currently operates without a regulatory status. This absence of oversight implies a high risk for potential clients as the safety of their funds cannot be guaranteed.

  • Several Subpages Malfunctioned: Having malfunctioning subpages on their website makes it difficult for users to find necessary information, and also raises questions about the overall reliability of the service EncoreFX provides.

  • Strict Regional Restrictions: EncoreFX does not offer its services in several countries, including the United States, Japan, several countries in Africa, and the Middle East. This fact restricts a significant number of potential traders from accessing their platform.

Is EncoreFX Safe or Scam?

  • Regulatory Sight: EncoreFX is currently operating without regulatory oversight, which means it does not fall under the jurisdiction or supervision of any financial regulatory bodies. It also does not hold any licenses that would enable it to conduct its operations in the financial market. This lack of regulation poses numerous risks to investors, such as a lack of transparency, security concerns, and no guarantee of adherence to industry standards and practices.

No license
  • User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.

  • Security Measures: So far we haven't found any information about the security measures for this broker.

Market Instruments

EncoreFX provides a variety of market instruments that traders can choose from. These include:

  • Forex: Forex or currency trading is a major component of EncoreFX's offerings. It allows traders to speculate on the relative value of one currency against another.

  • Metals: This includes trading in precious metals like gold and silver, which can be considered safe-haven trading instruments during times of high market volatility.

  • Energy: EncoreFX allows trading in energy commodities like oil and gas. These resources are essential for global economic activity and can see significant price movements based on supply and demand dynamics.

  • Indices: Indices trading allows traders to speculate on the performance of a specific group of stocks representing a country's economy or a specific sector. This is an effective way to gain exposure to an economy or sector without having to trade individual stocks.

Market Instruments

Account Types

  • Mini Account: With a minimal deposit requirement of $10, this account type is suitable for small and medium-sized principal investors. It's also tailored for inexperienced individuals who are new to the trading environment and would like to start with lower stakes.

  • Standard Account: This type requires a minimum deposit of $500. It's presumably designed for more experienced traders who are capable of investing in larger amounts and managing the associated risks.

  • Professional Account: The details regarding minimum deposit are not provided, but traditionally, professional accounts are designed for high-volume traders with significant trading knowledge and the capability to invest substantial capital.

  • Institutional Account: This account type is typically intended for institutional clients – such as financial institutions and corporations. The specifics of the deposit requirement and services provided are not mentioned, but this type of account usually comes with a customized service package which can include lower fees, dedicated account management, and other perks.


EncoreFX provides a maximum leverage of 1:200 across all account types. Leverage allows traders to open positions that are larger than their actual deposit. In this case, with a leverage of 1:200, for every 1 a trader has in their account, they can take a position in the market up to 200. This could potentially amplify profits, but it's important to remember that losses can also be amplified, particularly for inexperienced traders.


EncoreFX provides a fixed spread of 1.8 pips across all account types. While this ensures that the spread will not widen during news events or volatile market conditions, it is not particularly competitive in the industry. Many other brokers offer lower spreads, which could reduce trading costs. Therefore, traders should consider this factor when deciding whether or not to open an account with EncoreFX.

Trading Platform

EncoreFX provides its clients access to a broad range of market instruments via the MetaTrader 5 (MT5) trading platform. The MT5 platform, known for its comprehensive features, allows for a variety of order types, supports the use of Expert Advisors for automated trading, and provides more than 80 technical analysis tools for informed decision-making. It also allows hedging, supports one-click transactions, and offers complete market depth. The platform is available on both mobile and desktop devices, allowing flexibility and accessibility for traders.


Customer Support

EncoreFX provides several methods for customers to reach their support team:

  • Email: Vivid communication through their official email at

  • Telephone: Direct phone support is available through the provided number: +853 2833 6883.

  • WhatsApp: Real-time instant messaging customer support service is also available.

Apart from these, they have also disclosed their registered and business addresses, offering additional layers of transparency:

  • Registered address: Room 20 UNIT B3, 07/FL TUEN MUN Industrial Centre, NO. 2 SAN PING CIRCUIT, TUEN MUN HK.

  • Business Address: AQ 1/F, S/N, Centro Comercial Jardim da Cidade, Barbossa Avenue, Macau.


EncoreFX Limited offers certain commendable features, an advanced MT5 trading platform, and various market instruments to choose from. However, it lacks regulatory oversight, casting doubt on its reliability. Given these factors, traders should be more cautious opting for EncoreFX for their trading needs.

Frequently Asked Questions (FAQs)

Q: What is the maximum leverage offered by EncoreFX?

A: EncoreFX offers a maximum leverage of 1:200 across all account types.

Q: Is EncoreFX regulated?

A: No, EncoreFX is not regulated.

Q: Does EncoreFX support MT5?

A: Yes, it does.

Q: What is the minimum deposit requirement for a Mini Account with EncoreFX?

A: The minimum deposit required to open a Mini Account with EncoreFX is $10.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

User Reviews

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more than one year
EncoreFX broker has been a rather disappointing experience for me. They consistently overlooked withdrawal requests, taking more than 48 hours to process them, which was quite frustrating. I had to make three separate requests to withdraw all my funds, and to my dismay, they eventually informed me that withdrawals to Skrill were not possible. I'm left puzzled by this restriction.
2024-01-11 20:35


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