Fondex is an online broker that offers a variety of tradable assets including foreign exchange, shares, indices, energies, precious metals, ETFs, and cryptocurrencies. The broker provides access to the unique cTrader platform, which is available via desktop, web, and mobile applications. Additionally, Fondex offers ultra-low spreads starting from 0.0 pips and its commissions are among the lowest among other cTrader brokers globally. The broker is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) in Seychelles. Fondex also provides negative balance protection, anti-money laundering checks, and customer funds are held in segregated accounts with Tier-1 banks, audited on a regular basis. Moreover, there is no minimum deposit needed to trade with Fondex, and customers can withdraw their funds at any time, with no minimum withdrawal. The Fondex account is the only account type offered by the broker and it comes with special swap-free conditions for traders of the Islamic faith.

Fondex Pros & Cons

Pros:

1. Regulated Broker: Fondex is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) in Seychelles, ensuring that the broker operates in a transparent and fair manner.
2. Wide Range of Tradable Assets: Fondex offers over 1000 tradable assets, including forex, shares, indices, energies, precious metals, ETFs, and cryptocurrencies.
3. Unique cTrader Platform: Fondex provides access to the cTrader platform, which offers advanced charting tools and is available via desktop, web, and mobile applications.
4. Low Fees: Fondex offers ultra-low spreads starting from 0.0 pips and its commissions are among the lowest among other cTrader brokers globally.
5. No Minimum Deposit: There is no minimum deposit needed to start trading with Fondex, making it accessible to traders of all levels.
6. Negative Balance Protection: Fondex offers negative balance protection to its customers, ensuring that they do not lose more than their account balance.
7. Segregated Accounts: Customer funds are held in segregated accounts with Tier-1 banks, providing an extra layer of security.

Cons:

1. One Account Type: Fondex offers only one account type, the Fondex Account, which may not suit all traders’ needs.
2. Limited Educational Resources: Fondex does not offer extensive educational resources, which may be a disadvantage for new traders who need more guidance.
3. Limited Research Tools: Fondex does not provide extensive research tools, which may be a disadvantage for traders who rely on such tools for making trading decisions.
   
   

Who Is Fondex Recommended For?

Fondex is recommended for traders who are looking for a regulated broker that offers a wide range of tradable assets, low fees, and advanced charting tools. The broker’s ultra-low spreads and low commissions make it an attractive option for traders who are cost-conscious. Additionally, Fondex’s negative balance protection and anti-money laundering checks provide an extra layer of security for traders. Fondex may be particularly suitable for experienced traders who are comfortable using advanced charting tools and analyzing market data. However, the broker’s lack of extensive educational resources and research tools may make it less suitable for new traders who require more guidance and support. 

Account Options

• Forex Majors Spread: The provided spread for some of the most popular currency pairs, such as EUR/USD, GBP/USD, and USD/JPY, ranges from 0.28 to 0.71 pips.
• Maximum Forex Leverage: The maximum leverage offered is 500:1, which means that traders can open positions that are up to 500 times larger than their account balance.
• Scalping: Scalping, a trading strategy that involves opening and closing positions quickly to take advantage of small price movements, is allowed.
• Hedging: Hedging, a strategy used to offset potential losses from an existing position by opening another position in the opposite direction, is allowed.
• Free Demo Account: A free demo account is offered, allowing traders to practice their trading strategies and get familiar with the trading platform without risking real money.
• Traders From USA: The information provided does not mention whether traders from the United States are accepted or not, so it is unclear. 

Top Fondex Features

1. Unique cTrader Platform: Fondex offers the unique cTrader platform to its users. This feature-packed platform allows traders to trade in multiple ways, including manual trading, using in-platform signals, copying other strategies, and using trading bots. It is accessible via both desktop and mobile apps, and is known for its user-friendly interface and customizable trading strategies.
2. Low Commissions and Spreads: Fondex offers extremely low spreads and commissions, with commissions being the lowest among cTrader brokers globally. Trading indices and cryptocurrencies on this platform is commission-free, and it offers one of the lowest EUR/USD average spreads in the world, at around 0.083 pips.
3. Wide Range of Assets: Fondex offers a good range of assets to its users, with more than 1000 instruments to choose from. These instruments include foreign exchange, shares, indices, energies, precious metals, ETFs and cryptocurrencies, allowing clients to pick and choose the assets with which they are most comfortable and try out new ones.
4. No Minimum Deposit: Fondex has no minimum deposit requirements for its traders, which is a great feature for novice investors who can test out the platform with small amounts. There is also no minimum withdrawal amount required, ensuring that traders can withdraw their funds as and when they wish to.
5. Islamic Account: Fondex offers a special swap-free account for traders of the Islamic faith, providing them with a way to trade in compliance with their religious beliefs.
6. Regulated Broker: Fondex is a regulated broker, being authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) in Seychelles. European customers are also protected by the Investment Compensation Fund (ICF) which can provide them with compensation in case of company insolvency.
7. Advanced Charting Tools: Fondex offers advanced charting tools that cater to both newbies and advanced users. This allows traders to analyze market data and trends more effectively, and make informed trading decisions.
   
   

Fondex Account Types

Fondex offers only one account type, the Fondex Account, which has a zero minimum deposit requirement. This account supports multiple currencies, including USD, EUR, GBP, AUD, CAD, CHF, JPY, PLN, and THB. Fondex Account provides traders with leverage of up to 1:500 and ultra-low spreads starting from 0.0 pips.

The commission charged by Fondex for Forex, Energies, and Precious Metals trades is $2.5 per lot/per side. For 100 Shares and ETFs, the commission per side is $1, and indices and cryptocurrencies can be traded commission-free. Fondex Account also allows traders to trade with decimal pricing up to five decimals.

Fondex Account users can trade a variety of financial instruments, including Forex, Shares, Indices, Energies, Precious Metals, ETFs, and Cryptocurrencies. The minimum lot size per trade is 0.01 lots for Forex, Energies, Precious Metals, Indices, and Cryptos. For shares and ETFs, the minimum lot size per trade is 1 lot, while the maximum lot size per trade is 100 lots for all trading instruments.

Fondex Account comes with a demo account, allowing traders to test the platform before investing real funds. Moreover, the Fondex Account supports swap/rollover-free trading conditions for traders of the Islamic faith. Additionally, copy trading support is also available, allowing users to copy the strategies of experienced traders.

Regulation and Security 

Fondex is a regulated broker, and its clients’ funds are held in segregated accounts with Tier-1 banks. The company is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 138/11. Additionally, it is also regulated by the Financial Services Authority (FSA) in Seychelles.

Moreover, Fondex is a member of the Investor Compensation Fund (ICF), which provides eligible customers with compensation up to €20,000 in case the broker becomes insolvent. This fund offers a safety net to traders in the event of an unexpected financial loss.

In terms of security measures, Fondex has implemented robust measures to protect clients’ data and funds. The company uses Secure Socket Layer (SSL) technology to encrypt all data transmitted between the client and the server. It also employs two-factor authentication for account logins, ensuring that only authorized persons can access their accounts.

Finally, Fondex has implemented an anti-money laundering (AML) policy that includes Know Your Customer (KYC) procedures. This helps to ensure that the broker is not being used for any illegal activities, such as money laundering or terrorist financing. Overall, Fondex’s regulatory compliance and security measures provide clients with a safe and secure trading environment.

Conclusion on Fondex

Fondex is a reputable online broker that offers a range of features that can benefit traders of all levels. The broker provides a unique cTrader platform that is user-friendly and has a variety of trading tools to meet the needs of traders. Fondex offers a range of assets, including forex, shares, indices, energies, precious metals, ETFs and cryptocurrencies. The broker has no minimum deposit requirements, making it accessible to traders of all levels. The low spreads and commissions offered by Fondex are also very attractive to traders, especially those looking to keep their trading costs low. Overall, Fondex is a great choice for traders looking for a reliable and cost-effective broker.