Envi FX – an unlicensed offshore forex broker which offers minimum leverage of 1:500, Envi FX is no doubt a shady broker. Nevertheless, we shall look at this forex broker, evaluate the pros and cons of the company and decide which way to go.
In addition, this article contains guides on how to create a trading account with Envi FX, and even how to log in to an existing trading account. in essence, we will proceed with the Envi FX review, but before then, let us look at what this broker poses as.
What is Envi FX?
Envi FX is an offshore forex broker that provides clients with the right tools and leverage to take part in the forex market trades. A forex broker is a financial services company that provides traders access to a platform for trading foreign and cryptocurrencies.
Offshore brokers are unregulated brokers that allow clients to open investment accounts outside their country’s jurisdiction. Similarly, these brokers offer more flexible terms than regulated brokers.
Envifx offers clients the popular meta Trader 4 (MT4) trading platform. Also, the minimum deposit on Envi FX is $5 with a minimum trade size of 0.01. there are over 45 currency pairs, 10+ cryptocurrencies, and 50+ CFDs for trade on this company.
Also, it uses common trading conditions like robots, news spike trading, and scalping. Social trading strategies like MAM, PAMM, and copy trading are available.
The company offers a good trading platform and low deposit requirement which makes it attractive to new traders. However, before jumping to conclusions, let us look under the covers and know if this company is what it says it is.
Envi FX Review
The domain of the company’s website was registered in 2020. However, the company is not registered with SEC or any financial regulators thus making it an offshore broker. Also, the terms and conditions of the company fall under the laws of an offshore region, st. Vincent and the Grenadines.
“This website is not directed at or intended to elicit citizens and/or residents of the USA and is not intended for distribution to or use by any person in any jurisdiction where such distribution or use would be contrary to local law or regulation. **Risk Warning: Prospective clients should study the following risk warnings very carefully. Please note that we do not explore or explain all the risks involved when dealing with Financial Instruments. We outline the general nature of the risks of dealing in Financial Instruments on a fair and non-misleading basis. Unless a client knows and fully understands the risks involved in each Financial Instrument, they should not engage in any trading activity. You should not risk more than you are prepared to lose. Read More on T&C and Risk Disclosure.*This website does not solicit US Clients” _ https://envifx.com/about
With the information above which was drafted from the broker’s website, it is clear that it is an unlicensed broker, thus risky to deal with. Trading with unregulated brokers is dangerous as clients will not be compensated in cases where the broker disappears with their money.
Apart from being an unregulated broker, the company goes on to solicit investment in cryptocurrencies. Meanwhile, it is not registered with any financial regulator, thus committing financial security fraud.
Furthermore, the company provides no information on its ownership. This is common with MLMs and Ponzi schemes.
Moreso, the maximum leverage offered by this broker is 1:500 which is higher than the normal 1:50 leverage ratio used by regulated brokers. High leverage ratios like this can blow a trader’s account. similarly, they claim to offer tight spreads but are not specified anywhere.
Nevertheless, Envi FX offers four grades of trading accounts namely: Standard, PRO, VAR, and Mini.
|Commission per lot||$8.00||$9.00||none||$1.00|
|spread||0.8 pips||0.4 pips||1.2 pips||1 pip|
There is no specification for the minimum deposit requirements of any of these account types.
It uses VISA, MasterCard, and Bitcoin as both deposit and withdrawal methods. However, the broker does not specify how to withdraw profits from your account which is fishy.
Similarly, several reviews from users having login problems after attempting to withdraw imply that the broker has no intention of giving you your money.
In summary, Envi FX is a scam. Currently, it is being promoted by youtube scammers as a forex investment company to lure people into this shady project. We advise that you keep off from this broker. You can consider regulated brokers like FXpro, OctaFX, FXTM, Hot forex, etc.
Envi FX registration
As much as we do not advise trading with this broker, we cannot make decisions for you. If you intend to trade with this broker you can follow the directions below to sign up for a trading account.
- Firstly, visit Envi FX’s official website;
- Secondly, click on sign up at the top left corner of the page;
- The registration proceeds in different stages;
- In the first stage, you will provide your basic info (names, email address and password);
- Afterwards, you will proceed with your email address;
- The last stage involves your trading account details where you will choose an account type and other formalities involved.
Note you must make a deposit before you can place any trade.
Envi FX login
Follow the steps below to login into your Envi FX trading account:
- Firstly visit Envi FX’s official website;
- Secondly, click on Login
- Finally, enter your email address and password and click on login to finish.
What is Envi FX?
Envi FX is an offshore forex broker that provides clients with the right tools and leverage to take part in the forex market trades. Also, it allows for cryptocurrency investments and purchases.
Is Envi FX regulated?
No. Envi FX has no financial regulation from any regulatory authority like SEC, FSA and CIMA.
What type of broker is Envi FX?
Envi FX is an offshore unregulated broker that offers clients trading tools on the meta trader 4 platform.
Where is Envi FX located?
Information on the broker’s website states that the company is located at Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines.