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EPFX
Unregulated
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EPFX

South Africa
2001
2
1.58
Rating Index
Software
5.56
Licensed
0
Risk Control
0
Experience
5.76
Institution
0
Industry Classification
D
Unqualified
Trading Platforms
MT5, cTrader, Copy Trader, Demo Trader

Basic Information

  • Registered Region
    South Africa
  • Operation Status
    Abnormal
  • Operating Period
    2001
  • Deposit Methods
    Bank Wire, Visa, Cryptocurrency, Neteller, Skrill, Perfect Money, among others
  • Website
  • Market Type
    Foreign exchange
  • Support Languges
    English
  • Main Business
    FX, commodities, digital assets, stocks, indices, CFDs
  • Business Type
    FX broker
  • Social Media
  • Contact Details
  • Type of Accounts
    RAW Spreads, Zero Commission, Hybrid, Islamic, 50% Deposit Bonus, Cent Account; demo validity not disclosed
  • Trading Platforms
    MT5, cTrader, Copy Trader, Demo Trader
  • Withdraw Methods
    Not disclosed
  • Auto Trading
    EA/CopyTrade supported

Pros and Cons

**Pros:** 1. Broad selection of over 300 trading instruments; 2. Multiple account types to accommodate various trading styles; 3. Competitive spreads starting at 0.0 pips on some accounts. **Cons:** 1. Unregulated status with a revoked ASIC license; 2. Reports of withdrawal difficulties and user complaints about fund access; 3. High risk of encountering issues due to the regulatory environment.

Company Background

EPFX, established in 2001 in South Africa, is identified as a securities firm. It offers over 300 trading instruments and multiple account types, with leverage up to 1:500. However, its regulatory status is now unverified, raising concerns about its credibility.

Fund Security

The lack of solid regulatory licensing, along with a revoked ASIC license and an unverified FSCA status, indicates potential risks concerning fund safety and trader protection under the current operating model of EPFX.

Account Opening

EPFX provides six distinct account types: RAW Spreads, Zero Commission, Hybrid, Islamic, 50% Deposit Bonus, and Cent Account. The minimum deposit for these accounts is set at $25. However, the process of account opening and checks post-registration is not explicitly detailed on the platform.

Trading Fees

EPFX advertises spreads from 0.0 pips for specific accounts, with no commission fees charged on Zero Commission and Cent Accounts. Overall cost structures are considered competitive, particularly for forex trading. However, additional withdrawal fees may apply.

Trading Instruments

Available trading instruments include forex pairs, commodities, indices, stock CFDs, and cryptocurrency CFDs. The diversity in the asset classes allows traders to explore various market sectors effectively.

Trading Technology

Trading is facilitated through platforms like MT5 and cTrader, which are accessible both on mobile and desktop devices. The technology stack appears to support robust trading capabilities, although specific tech implementations are not extensively detailed.

Research and Education

The broker offers limited educational resources, suggesting that traders may need external sources for comprehensive market insights and trading education. A demo account is available for practical learning.

Customer Support

Customer support is accessible via telephone and email. Response times and effectiveness have received mixed reviews, with some users reporting difficulties in reaching support for urgent issues.
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Rating Instructions
Rating Index
EPFX
EPFX
Unregulated
Legal Environment
5.56
License Value
0
Risk Management
0
Investor Protection
5.76
Regulatory Policy
0
  • Software

    Evaluates the regulator's legal foundation, organizational structure, leadership experience, and enforcement capacity. Focuses on whether it enforces strict regulations, maintains transparency and fairness, and engages in international cooperation and technological supervision.

  • Institution

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  • Licensed

    Assesses the market value of the licenses issued by the regulator, including entry thresholds, compliance costs, approval duration, and overall global recognition and influence.

  • Risk Control

    Evaluates the regulator's financial stability and risk management capacity, including budgeting, reserves, revenues, expenditures, and ability to respond to market or financial shocks.

  • Investor Protection

    Examines the regulator's complaint-handling and investor protection systems, assessing fairness, responsiveness, and enforcement effectiveness in safeguarding investor rights.

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