Introduction to EssenceFX
EssenceFX is a leading online broker offering trading in forex, CFDs and precious metals. The company is headquartered in Mauritius and regulated by the Financial Services Commission (FSC). EssenceFX offers the MetaTrader 4, WebTrader and Mobile trading platforms.
The broker provides market analysis, economic calendar, live charts and a dealing desk for its clients. EssenceFX also offers a demo account to practice trading before opening a live account. Minimum deposit for a live account is $500.
EssenceFX offers leverage up to 1:200 and spreads from 0.1 pips on major currency pairs like EUR/USD, GBP/USD and USD/JPY. The company charges no commission on trades.
EssenceFX provides 24/5 customer support through live chat, email and telephone.
The Different Trading Platforms Offered by EssenceFX
There are three main types of trading platforms offered by EssenceFX. These are the MetaTrader 4 (MT4) platform, the WebTrader platform, and the Mobile Trader platform.
The MT4 platform is a popular choice for experienced traders as it offers a wide range of features and customisation options. The WebTrader platform is a good choice for beginners or those who prefer a simpler trading interface. The Mobile Trader platform is perfect for those who want to trade on the go.
EssenceFX also offers a demo account so that you can try out their platforms before committing to a live account. This is a great way to get familiar with the features and functions of each platform before risking any real money.
The Types of Instruments Available on EssenceFX
EssenceFX is an online CFD, Forex and Crypto broker that offers a range of different instruments for trading. These include major, minor and exotic currency pairs, as well as a range of commodities, indices and shares. Crypto assets are also available to trade with EssenceFX.
The types of instruments available on EssenceFX can be broadly split into two categories: forex and CFDs.
Forex is the market in which currencies are traded. Currencies are always traded in pairs, such as EUR/USD or GBP/JPY. The first currency in the pair is known as the base currency, while the second is known as the quote currency. When trading forex, you speculate on whether the price of the base currency will rise or fall against the quote currency.
CFDs, or contracts for difference, are derivative products that allow you to speculate on the price movements of a wide range of financial markets without actually owning the underlying asset. For example, you can trade CFDs on indices, shares, commodities and even crypto assets. With CFDs, you can go long or short on a market, giving you greater flexibility in your trading strategy.
User Ratings and Reviews
User ratings and reviews are an important part of any online broker review. At EssenceFX, we take user feedback seriously and use it to improve our services.
We encourage all users to leave feedback on our website, whether they are happy with their experience or not. All reviews are moderated to ensure they are relevant and constructive.
Positive user reviews mention our helpful customer support team, easy-to-use trading platforms and wide range of tradable instruments. Some reviewers have also praised our low fees and fast withdrawal process.
Negative user reviews tend to focus on occasional platform glitches and problems with account verification. However, most reviewers say that these issues have been quickly resolved by our customer support team.
EssenceFX Regulatory Overview
EssenceFX is a forex broker that is based in the Seychelles and offers its services to traders around the world. The company is regulated by the Seychelles Financial Services Authority (FSA), which is a member of the International Organization of Securities Commissions (IOSCO). EssenceFX is also a member of the Financial Commission, an independent dispute resolution body for forex brokers.
The company offers two account types – a Standard account and an ECN account – with leverage up to 1:500 and spreads starting from 0.0 pips. EssenceFX provides its clients with access to the MetaTrader 4 trading platform and a mobile trading app. The broker’s website is available in English, Chinese, Arabic and Russian.
Conclusion
EssenceFX.com is a reliable and user-friendly online broker that offers a wide range of financial instruments to trade. The company is regulated by top-tier financial authorities, provides negative balance protection, and has low spreads and fast execution speeds. In addition, EssenceFX.com offers excellent customer service and is rated highly by its users. If you’re looking for an online broker that ticks all the boxes, EssenceFX.com is definitely worth considering.