Company Profile
Company Profile
Review summary
General Information & Regulation
KontoFX is an Estonia-based brokerage firm that offers investors trading in CFDs and cryptocurrencies. KontoFX is not currently effectively regulated by any regulatory body.
Market Instruments
KontoFX offers investors a limited range of financial instruments, including CFDs, cryptocurrency trading.
Minimum Deposit
KontoFX offers investors three different types of accounts, namely Self-Trading account, Auto-Trading accounts, and Social Trading accounts, which are very different from other brokers. Besides, the minimum initial deposit on the KontoFX platform is 250 USD/EUR.
KontoFX Leverage
When it comes to trading leverage, the maximum leverage level for forex instruments offered by KontoFX is up to 1:200. Since leverage, can amplify both profits as well as losses, choosing the right amount is a key risk determination for traders.
Spreads & Commissions
The minimum spread on the KontoFX platform for EURUSD is 0.6 pips, and no information about trading commissions is disclosed.
Trading Platform
KontoFX offers traders a trading platform that is not MT4/MT5 but KontoFX WebTrader. KontoFX claims that KontoFX WebTrader is exclusively tailored to its clients and provides traders with the best trading experience. The reason why many scam brokers do not offer MT4/MT5 trading platforms is that MT4/MT5/cTrader trading platforms are monitored constantly by an online community so that brokers do not plant too many conditions in their trading software in their favor. Therefore, such in-house software of the broker is often not trusted.
Deposit & withdrawal
KontoFX supports traders to deposit and withdraw funds to their investment accounts via VISA, MasterCard, Maestro, and wire transfer.
Customer Support
When it comes to customer support service team, this broker offers customer support in three languages and is available from Monday to Friday, 05:00 – 22:00 GMT – it would be better if the platform worked 24/7 though as many crypto trading brokerages do.
KontoFX Pros & Cons
KontoFX Advantages Include:
1. Three Trading Accounts Available
KontoFX Disadvantages Include:
1. Not Subject to Any Regulation
2. Narrow Range of Tradable Assets
2. No Details on Commissions & Spreads
3. Non-MT4/MT5 Trading Platform
4. Fewer Options for Deposit & Withdrawal
5. No 24/7 Customer Service
