Global Broker governance & inquiry App

Score

0123456789
.
0123456789
0123456789
/10

Effort

United Kingdom|5-10 years|
Regulated in United States|Suspicious Regulatory License|MT4/5 White Label|Regional Brokers|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|

https://effortfx.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
EffortTradingLimited-Demo MT4
Server Location South Korea

Contact

info@effortfx.com
https://effortfx.com/

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Broker Information

More

Company Name

Effort Trading Limited

Company Abbreviation

Effort

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 3
Previous Detection : 2024-03-28
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • United StatesNFA (license number: 0514393) The regulatory status is abnormal, the official regulatory status is Unauthorized. Please be aware of the risk!

WikiFX Verification

Users who viewed Effort also viewed..

XM

9.04
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4/5 full license
Official website

Sway Markets

7.69
Score
1-2 yearsRegulated in AustraliaAppointed Representative(AR)Self-developed
Official website

LonghornFX

7.59
Score
2-5 yearsRegulated in United KingdomCommon Business RegistrationMT4/5 full license
Official website

IC Markets

8.92
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4/5 full license
Official website
Pyramid scheme complaint
Expose

Effort · Company Summary

General Information & Regulation

Effortfx is owned and regulated by Effort Trading Limited, which is an unregulated forex and binary options broker and by definition the lack of a license in the industry means lack of credibility. While its demo MT4 may provide a competitive trading environment, the legal status of the company is much more important. Even if a broker offers the tightest spreads, what is the use, if its disappears with all its clients' money. There are too many scammers out there, so youd better do your due diligence check and select a properly regulated broker.

Market Instruments

There are around 50 currency pairs, plus quite a few CFDs provided by Effort Trading. Sadly, cryptocurrencies arent supported.

Accounts & Leverage

Effortfx offers a single standard account with no minimum deposit disclosed. The maximum leverage levels available on Effort Tradings demo MT4 platform are 1:500. This is a high ratio, which is not suitable for all traders, but the availability of high leverage is a nice option nonetheless.

TRADE SIZE

The minimum trade size offered by this broker is 0.01 lots.

Spreads & Commissions

On its website Effortfx brags about a 0.2 pips spread. But based on some research test with the demo platform didnt confirm this, but it was found the spread on EUR/USD floating from around 0.9 – 1.0 pips, without any commission fees, which is a really good offer.

Trading Platform

The trading platform provided by Effort Trading is one of the best in the industry. MetaTrader 4 (MT4) has been around for quite some time, but it is still the most widely used FX trading terminal worldwide. Some of its top-notch features include superior charting, variety of technical analysis indicators and Expert Advisors (automated strategies), as well as customization options. In addition to the MT4, Effort Trading offers a web-based binary options platform.

Deposit & Withdrawal

No information is found on the payment options at Arena Trade. In any case, most brokers use cards like VISA and MasterCard, bank wire, and e-wallets like PayPal and Skrill. But this is not to be sure on weather the broker accepts all. Therefore Users are required to check further before trading.

Customer Service

Regarding the customer support service , we couldnt find any information weather the broker offers different means for clients to contact them.

User comment

0

Comments

Write a review

No comment yet

start to write first comment

2
TOP
Select Country/District
United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com