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EverFX Review
EverFX was a Cyprus regulated CFD broker. The FCA banned its UK activity in 2021 for serious misconduct, and the brand was later tied to a large international investment fraud.
Min Deposit
N/A
Spreads From
Not applicable, EverFX is closed
Max Leverage
Not applicable, EverFX is closed
Platforms
N/A
Pros
- Held a genuine CySEC license in Cyprus from 2016 until August 2021.
- The FCA ordered it to close UK trades and repay client cash within weeks.
- Retail accounts had negative balance protection under CySEC and ESMA rules.
- CySEC required it to keep client money in segregated accounts while licensed.
Cons
- The FCA banned the whole EverFX group from UK activity in May 2021.
- Regulators logged 76 complaints about misleading adverts and heavy pressure.
- Representatives directed some client trades and blocked withdrawal requests.
- Almost all UK clients were steered toward unlicensed overseas sister firms.
- The EverFX name later appeared on websites tied to the Milton Group fraud network.
- Spanish police arrested a man they called the Spanish team leader of EverFX in 2022.
- No regulator anywhere authorises a broker using the EverFX name today.
EverFX was a forex and CFD brand started in 2016 by ICC Intercertus Capital Ltd, based in Limassol, Cyprus. The firm held CySEC license 301/16 and could serve UK clients for a period. EverFX built a high public profile, including a shirt sponsorship of Spanish club Sevilla FC.
In May 2021, the FCA banned the whole EverFX group from UK business. It had logged 76 complaints since 2020 about misleading adverts, pressure to invest more, staff directing trades, and blocked withdrawals. Almost all UK clients had been steered toward unlicensed overseas sister firms. Days later, the Cyprus firm dropped the EverFX name and relaunched as Axiance under a new chief executive.
After that, the EverFX name kept showing up on separate websites with no real license behind them. Investigators linked these sites to the Milton Group fraud network. Spanish police arrested a man they called the Spanish team leader of EverFX in Barcelona in December 2022. No regulator authorises an EverFX broker today.
Max Leverage
Not applicable, EverFX is closed
Spreads From
Not applicable, EverFX is closed
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
