Fondex
Published: Updated:
- Trust score
- 4/10
- Legal simplicity
- 4/10
- Min. deposit
- 0
- Trading platforms
- Regulations
- Payment systems
- Instruments
- Forex, Metals, Indices, Commodities, Energies, Stocks, ETFs, Cryptocurrencies
- Legal entity
- Fondex Ltd
- Jurisdiction
- Cyprus
- Fees
- Fondex prices on a raw-spread model with a per-lot commission across a very wide instrument list. Overnight swaps apply, and swap-free accounts are available on request.
- Withdrawals
- Withdrawals return to the funding method and are normally processed within one business day.
- Available in
Features
- No minimum deposit required
- Copy trading supported
- Segregated client accounts
- ECN-style account
- Scalping allowed
- Affiliate program available
- Wide range of trading instruments
Pros
- No specific advantages are documented for this broker.
Cons
- No specific drawbacks are documented for this broker.
Fondex is a forex and CFD broker founded in Cyprus in 2017, with a Cyprus entity regulated by CySEC and a Seychelles entity regulated by the SFSA. It serves EU and international clients, with a handful of restricted countries including the US, Japan, and Canada. Trading runs on a single ECN-style account through cTrader, with no minimum deposit required.
Fondex is a CySEC- and SFSA-regulated broker offering ECN-style pricing on cTrader, with no minimum deposit and support for copy and automated trading.
Fondex is a forex and CFD broker founded in Cyprus in 2017, with a second office in Seychelles serving traders outside the EU. It accepts clients worldwide, with exceptions including the US, Japan, North Korea, Iran, Belgium, and Canada.
Regulation and fund safety
Fondex operates through two regulated entities. Fondex CY, based in Cyprus, is licensed by the Cyprus Securities and Exchange Commission (CySEC). Fondex SEY, based in Seychelles, is licensed by the Seychelles Financial Services Authority (SFSA).
Client funds are held in segregated accounts, separate from the broker's own funds, and Fondex participates in a deposit insurance program for added protection.
Leverage
Leverage depends on which entity a client trades through. Traders under the CySEC-regulated Fondex CY are capped at 1:30 on major currency pairs, in line with ESMA rules for EU clients. Traders under the Seychelles-regulated Fondex SEY can access leverage of up to 1:500.
Account type and trading costs
Fondex offers a single, ECN-style account with low spreads on liquid instruments and commissions on most trades. Currency and commodity CFDs carry a commission of $2.5 per side per $100,000 traded; stocks and ETFs are charged $1 per 100 shares traded. Cryptocurrency trading has no commission but wider spreads, averaging around $10 on BTCUSD and $2.29 on ETHUSD. The average EUR/USD spread is 0.7 pips.
Trading platform
Fondex runs on cTrader, supporting manual trading, copy trading (following other traders), and automated strategies, with desktop, web, and mobile access.
Tradable instruments
- 60+ currency pairs
- 15 major stock indices
- 900 stocks
- 18 ETFs
- Precious metals, including gold and silver
- Energy commodities, including oil and natural gas
- Cryptocurrencies, including Bitcoin, Ethereum, Ripple, Dash, and Litecoin
Deposits and withdrawals
Fondex has no minimum deposit. EU clients can fund accounts by bank transfer, debit or credit card, or e-wallets including Skrill, Neteller, and PayPal. International clients have additional options, including PayTrust, Paymero, EPS, and cryptocurrency via a third-party service.
Key facts
| Founded | 2017 |
|---|---|
| Headquarters | Cyprus, with a Seychelles office |
| Regulation | CySEC, SFSA |
| Platform | cTrader |
| Minimum deposit | $0 |
| Maximum leverage | 1:500 (Seychelles entity) |
| Base currencies | USD, EUR |
| Support | 24/5 |
Trading conditions
Fondex is a cTrader-only broker, which is an unusual and deliberate choice. There is no MetaTrader option: everything runs on cTrader, with its market depth, its order handling and its cAlgo automation in C#.
The instrument list is very wide for a broker of this size, running into the thousands across currencies, equities, ETFs and commodities, all on raw-spread pricing with commission.
For a trader who already works in cTrader the combination is strong. For anyone whose strategy is a compiled MetaTrader Expert Advisor it is a non-starter, and no bridge changes that — cAlgo is C#, MQL is not.
The CySEC entity applies ESMA limits with negative balance protection and Investor Compensation Fund cover; the Seychelles entity applies neither.
Verification
Verification requires photo ID and proof of address, with an appropriateness assessment on the CySEC entity. Documents are usually reviewed within one business day.
Before opening, be certain cTrader suits your workflow. A broker with no MetaTrader option is a commitment to a different toolchain, and migrating a strategy between the two means rewriting it rather than porting it.
