CoverDealFX Review: Is Cover Deal FX a Scam or Legit Forex Brokerage?

CoverDeal FX Review: The CoverDealFx broker is a forex brokerage that “allows you access to CFDs on Forex, Stocks, Commodities, Indices, Cryptocurrencies and Bonds”. Its website shows that it is registered with the name Coverdeal Holdings Limited. This is a company authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). The funds of their clients are kept “in reputable European banks” and it employs Secure Sockets Layer (RapidSSL) to encrypt communication between them and the server. SSL is a website authentication and data encryption protocol that helps protect information of users from hackers. It provides clients with full access to educational and market analysis tools. These tools are: personal trading assistant, real time market prices, webinars & seminar, daily briefing & research as well as desktop, mobile & tablet trader.

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Trading Platform

Cover Deal Fx uses the latest MetaTrader 5 terminal as a trading platform for the pair EUR/USD.

Deposit and Withdrawal Methods

CoverDealfx withdrawals and deposit can be made via Visa, MasterCard and bank transfer. The minimum deposit amount is $250 and the brokerage charges an inactivity fee of $15 from accounts that have stayed inactive in the market for more than a month.

Is It Licensed?

CoverDealFx is a licensed brokerage in by the Cyprus Securities and Exchange Commission (CySEC). It is regulated by this same body that allows it to operate within the Investor Compensation Fund circle.

Support

Clients that wish to contact this brokerage can do so via telephone: +357 25 653 040 or by email: support@coverdealfx.com

Conclusion

The fact that CoverdealFx is licensed and regulated by Cyprus Securities and Exchange Commission (CySEC) is a good thing. This is because they are mandated by this body to compensate clients up to £20,000 in case of bankruptcy.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website

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