Eone FX is a broker with a controversial background. On one hand, eoneFX.com claims to be based out of Singapore and on the other, they tell people that they are in Belize. So which is which?
The official website of Eone FX also claims that the broker offers 1200+ tradeable instruments, and that they’re a p2p Crypto exchange created by traders for purposes of “improving trading experience”. Well, their platform does not provide this facility currently. There seems to be a lot of lies going round on the website of Eone FX. They cannot be trusted, and for that reason, you should just sign up with these decent Forex and CFDs brokers. Avoid any broker that is not straight-forward.
Eone FX Review: What’s inside the eoneFX.com platform?
The broker offers MT4 trading platform. This trading software is popular and is currently offered by major Forex brokers across the board. MT4 software gives you access to an excellent charting platform as well as integrated indicators which help with making decisions. But not all brokers who offer MT4 software like Eone FX are legitimate.
In terms of financial instruments that consumers can trade, EoneFX offers currencies, stock CFDs, indices, futures, metals, energies and commodities.
The broker is keen on luring traders with promises such as no-requotes, no rejection, tight spread, deep liquidity and orders that are being processed through their STP model.
It is often easier said than done. Many white label scam brokers like Keler Group make these promises but when you sign up, you will find that the reality is quite shocking.
EoneFX account type, minimum deposit, leverage, spreads and other fees
The broker would like to offer as many account types as possible. For that reason, they have 4 account types.
Minimum deposit is only $10. Obviously you can’t do anything with a $10 trading account.
We see that leverage is as high as 1:2000, and this is very dangerous because the broker is basically encouraging investors to lose money.
Over-leverage will ruin your account even if you’re using the best trading software or signals that make money. It can be difficult to stay consistently profitable if you over-leverage.
Spreads are pretty high as the broker charges 1.6 pips on major pairs. They also charge a commission of $5 per lot on their One Market account type.
Generally we feel that EoneFX is a bit expensive to trade with — assuming they were reliable and we were recommending them.
What to do if you have been scammed by Eone FX
The problem with this broker is that they are not licensed. No matter what they promise you, they will not stick to their word since they lack a sense of responsibility towards preserving your capital. After all, they don’t report their activities to any financial regulator.
For that reason, Eone FX is a high-risk broker for your trading. If they have scammed you and you want your money back, we urge you to utilize the live chat or fill in the form at the beginning of this review.
99% of the cases are successful and victims manage to get their money back simply because we are dealing with professionals who know the ins and outs of the financial industry.
We don’t recommend EoneFX for the obvious reason. They are not regulated and secondly, they can’t give us a definite answer as to whether they’re from Belize or Singapore.
We don’t want to trust them blindly because money is involved. If there are good brokers to trade with, why waste time with a broker that doesn’t give you a sense of security?