Straight Through Processing (STP) is a new model for trading. It has taken the forex industry by storm. Let us take a quick look into its competency.
Many brokering enterprises promise benefits like seamless and speedy execution, safety and protection of your interest, tightest spreads and such benefits. However, many enterprises are not able to deliver on the promise.
But EverFX, a relatively new and unknown brokering unit took time to attract investors with their funds. In spite of being regulated by CySEC, under the licensing number, there is always a chance of a scam.
EverFX is actually a trading name of ICC Intercertus Capital Limited. Started in 2016 it is compliant with MiFID and is associated with other regulating bodies as well.
Like other key players in this domain, EverFX has a test drive option. This allows an investor to test its demo account and check out their trading portal.
Besides there are four other categories of accounts available such as Light, Standard, Premium, and VIP. They are differentiated by the minimum amount you need to invest. This also gives you an advantage during the trading process.
The actual trading process with EverFX broker is performed on a well-known MetaTrader 4 platform, and even though this software has a lot of potentials – the guys at EverFX fail to utilize the full range of features of this package.
MT4 is excellent software which is integrated with a set of standard tools like Market news, Expert Advisors, analytical indicators, and such. Yet it has the capacity to be incorporated with many other tools.
Even though incentives are mandatory in the trading business EverFX to need to upgrade their rewards and bonuses areas a lot more, else potential investors will look elsewhere for high paying bonuses and incentives. The “refer-a-friend” and “zero-cost trading” The so-called “zero-cost trading” and a “refer-a-friend” feature are the only two options to them. This department can do with a lot of improvement. Having said this, we need to add here that EverFX has various also uses various forms of rewards and promotions to lure the traders to join their company.
All methods of deposits and withdrawals should be quick and seamless. But many times this is not the case with many brokers. Though EverFX has a strong infrastructure when it comes to withdrawal and deposit of the funds, there is nothing new nor is there any up gradation in this area. This needs to addressed too as soon as possible. Investors can use their e-wallets, credit cards or bank wire to transfer funds.
Whereas customer service is concerned EverFX Forex broker should pull up their socks. The company does boast of several ways of communicating with the clients like phone, e-mail but more needs to be done. Communication through social media and an address in Cyprus serves as a way of contacting EverFX.
EverFX has just entered the forex trading market. It is seen that this newbie is still learning the ropes of the trade. Though the service quality is not bad many areas of this venture need improvement for EverFX to be a market leader.