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🏦 Min. Deposit | USD 1 |
🛡️ Regulated By | CySEC, Fi, BaFin, FSA-Seychelles |
💵 Trading Cost | USD 7.80 |
⚖️ Max. Leverage | 500:1 |
💹 Copy Trading | Yes |
🖥️ Platforms | cTrader |
💱 Instruments | Cryptocurrencies, Energies, Stock CFDs, ETFs, Forex, Indices, Metals |
75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website, you agree to our Terms of Service.
Founded in 2011, Fondex is a cTrader-only broker based in Cyprus and regulated by CySEC and the Seychelles FSA. Spreads are variable and tight, sometimes down 0 pips on the EUR/USD, and Fondex charges a low commission of 2.5 USD per lot traded. Education and market analysis are thin, but deposits and withdrawals are fast and free and customer service is available 24/5 in multiple languages.
While the single platform choice will disappoint many traders, cTrader offers a powerful and feature-rich alternative to MetaTrader’s platforms, with a built-in copy trading function and advanced automation tools.
🏦 Min. Deposit | USD 1 |
🛡️ Regulated By | CySEC, Fi, BaFin, FSA-Seychelles |
💵 Trading Cost | USD 7.80 |
⚖️ Max. Leverage | 500:1 |
💹 Copy Trading | Yes |
🖥️ Platforms | cTrader |
💱 Instruments | Cryptocurrencies, Energies, Stock CFDs, ETFs, Forex, Indices, Metals |
Founded in 2011 in Cyprus, Fondex is the trade name of TopFX Ltd. In Europe, TopFX Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC) under licence number 138/11. Outside of Europe, Fondex Ltd is licensed by the Seychelles Financial Services Authority (FSA) with a Securities Dealer License No: SD037.
Fondex is also registered with 17 EU Regulators, including the Federal Financial Supervisory Authority (Bafin) and the Financial Conduct Authority (FCA). To maintain licensing and registrations, Fondex is required to fulfil capital adequacy requirements, submit financial reports to the regulators, and undertake a detailed annual audit performed by an independent auditor.
Fondex keeps client funds with Tier-1 global banks in segregated accounts. In the unlikely event of liquidation, segregated funds cannot be used to pay creditors and must be returned to clients directly. Fondex also offers negative balance protection, so it is not possible to lose more than your deposit.
Fondex has also received widespread recognition from the Forex industry, most recently winning the Award for Best cTrader Broker Cyprus 2020 (International Business Magazine Awards) and Best cTrader Broker Award 2020 (AtoZ Markets). Previous awards include Best Trade Execution 2018 and Best Cryptocurrency Broker 2018 (World Finance Awards).
With strong regulation, negative balance protection and industry recognition, we are sure that Fondex is a safe and secure broker to trade with.
Fondex works with liquidity providers to provide traders with the best prices and fastest execution possible. While it is not a true ECN broker, Fondex provides traders with market pricing sourced from Tier 1 banks, prime of prime brokers, and hedge funds. Spreads are variable but tight, and a low commission is charged on all trades.
Fondex offers over 80 FX pair and 11 cryptocurrency pairs to trade. This is alongside a wide range of indices, equities, metals, energies, and ETFs. Overall, Fondex offers traders more than 1000 instruments to trade.
Fondex offers a single account type on the cTrader platform. Maximum leverage is 1:500 and there is no minimum deposit required. Fondex provides raw spreads from its liquidity providers, so always charges a commission per trade.
Spreads at Fondex are variable and can be as low as 0 pips, though average spreads are wider. The daily average for the EUR/USD is 0.28 pips and the average for the GBP/USD is 0.71 pips. In a very welcome display of transparency, Fondex publishes all its spread data for each instrument in easy to read charts showing fluctuations in the spread over time.
As Fondex provides raw pricing, it charges a commission for every trade and very little on the spread. Commission is set to 2.5 USD per lot per side (5 USD round turn) for all Forex pairs, which is one of the lowest commissions we have seen for this type of broker.
Fondex charges no fees for deposits and withdrawals and processing times are generally very fast across all funding methods:
Fondex offers a welcoming environment for new traders, with a large (if unstructured) education section and a market news section that is updated on a daily basis.
Fondex’ education section is collection of articles covering everything from technical analysis and risk management to exit strategies and more general tips for successful trading. Though this section is unstructured, with no course for beginners, the material on offer is detailed and useful. More experienced traders may find some of the articles helpful too, with articles on scalping strategies and a deep dive into trading fundamentals standouts.
Though Fondex provides a short market news section, this is not updated frequently throughout the day. New articles are posted daily and are generally brief, though insightful. Fondex has also partnered with Trading Central, the world’s leading market analysis resource, to provide in-platform signals, technical analysis, and market news.
Fondex customer support is available 24/5 via live chat, phone, and email. Support is available in English, Russian, Arabic, French and Greek. Fondex customer support and marketing is also active on social media and can be reached via Facebook, Twitter, LinkedIn and Instagram.
Fondex offers support for a single trading platform: cTrader. Advocates of cTrader will tell you that it is more beginner-friendly than MT4 and offers high-speed execution with a cleaner user interface.
Fondex cTrader comes with 70 pre-installed indicators and cTrader Automate allows traders to build their own custom indicators or download them from the cTrader’s bot storefront. cTrader’s intuitive interface makes complex trade orders easy to manage, and it features multiple options for order execution, monitoring and modification:
cTrader also comes complete with an advanced Copy Trading function, a real bonus for beginner traders. The copy trading strategy selection process is easy and straightforward:
Overall, cTrader is a clean, modern and feature-rich platform that all traders will enjoy using. The user base is smaller than MT4 or MT5, so tutorials and trading bots are not as prevalent online.
cTrader is available via your browser, as a desktop download for Windows PCs and for both Android and iOS devices for those that want to trade on the go.
Other than the copy trading functionality built in to the cTrader platform, Fondex has also partnered with Trading Central to offer its signals plugin. This plugin combines standard technical analysis, chart analysis and Japanese candlesticks and provides your with actionable information for all types of trading styles.
We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the Fondex offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.
Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. Fondex would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Fondex is one of the few brokers that offer the cTrader platform and I think the only broker we have come across that offers support for no other trading platform. This will be an instant turn-off for many traders, especially those who have a long history with MT4. But spreads are tight, and trading commission is one of the lowest we have seen.
Education and market analysis are weaker than many other brokers, but deposits and withdrawals are free and fast. cTrader is also a powerful and modern platform, packed full of features such as native copy trading and powerful automation options. While Fondex will not be for everyone, cTrader converts and the curious may find it an interesting option.
Find out how Fondex stacks up against other brokers.
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