Score
Saint Lucia
|
1-2 years
| https://www.defcofx.com
Website
Rating Index
MT4/5
Full License
DefcoFX-Server
Influence
C
Influence index NO.1
United States 3.67
MT4/5 Identification
Full License
NetherlandsInfluence
C
Influence index NO.1
United States 3.67
LicensesNo valid regulatory information, please be aware of the risk!
Saint Lucia
Formal full license MT4/5 traders will have sound system services and follow-up technical support. Generally, their business and technology are relatively mature and their risk control capabilities are strong
defcofx.com United StatesDefcofx is a brokerage firm from Saint Lucia. At present, Defcofx's main business is to provide traders with a variety of trading products and financial services, notably supporting the use of MT5 platform, no commission, no swap fees.
However, it is currently in an unregulated state and its operation is not subject to legal constraints, so the safety of the trader's funds may not be fully guaranteed and risks may arise.
| Pros | Cons |
| No commission | No regulation |
| Support MT5 | |
| Large number of tradable products | |
| Spread from 0.3 | |
| No swap fee |
Defcofx, a broker, is currently unregulated and operates outside the laws and regulations. For traders, there are certain risks.
Defcofx offers traders 61 currency pairs, low spreads from 0.5 points, and leverage up to 1:2000. It offers global index CFDS, with spreads on 11 indices starting at 0.5 points. There are also over 55 US stocks available for trading, i.e. over 55 large cap CFDS traded on the ASX, NYSE and NASDAQ stock exchanges. It also offers the popular cryptocurrency, a 24/7 trading market that supports bulls or bears. In addition, it provides access to a variety of metals, including precious metals such as gold and silver, as well as base metals such as platinum and platinum.
| Tradable Instruments | Supported |
| CFDs | ✔ |
| Forex | ✔ |
| Precious Metals | ✔ |
| Energies | ✔ |
| Indices | ✔ |
| Stocks | ✔ |
| Cryptocurrencies | ✔ |
| Bonds | ❌ |
| ETF | ❌ |
Defcofx offers 2 account types: Silver account and Gold account.
Among them, the silver account has a minimum deposit of $50 and a leverage ratio of 1:2000, and the gold entry threshold seems to be friendly to novices, but the higher the leverage, the higher the risk. In contrast, gold accounts have a minimum deposit of $1,000 and a leverage ratio of 1:50.
Both account types support the use of the Defcofx MT5 trading platform and offer commission-free trading with spreads starting at 0.5 points. They also don't charge swaps or interest fees, which is beneficial for traders looking to keep costs to a minimum.
| Account Types | Silver Account | Gold Account |
| Trading Platform | Defcofx MT5 | Defcofx MT5 |
| Commission | $0 | $0 |
| Spreads from (pips) | 0.5 | 0.5 |
| Starting Deposit (USD) | $50 | $1,000 |
| Leverage | 1:2000 | 1:500 |
| Maximum Number of Positions per Order | 2 lots | Unlimited |
| Server Location | Netherlands | Netherlands |
| Micro Lot Trading (0.01) | √ | √ |
| Currency Pairs | 61 | 61 |
| US Stocks | Not available | √ |
| Stop Out Level | 20% | 20% |
| One Click Trading | √ | √ |
| Islamic Accounts | √ | √ |
| Max Number of Accounts per User | 1 | 1 |
| Trading Styles Allowed | All | All |
| Order Distance Restriction | None | None |
| Programming Language | MQL5 | MQL5 |
| Suitable For | Manual Traders & Scalpers | Manual Traders, EAs, Scalpers |
| Swap/Interest | No | No |
Defcofx Spreads & Commissions
Defcofx says it offers low spreads. Both types of account spreads start at 0.5pips.
In Forex pairs, the fixed spread between the euro and the US dollar is 0.5pips, which is favorable for traders and has low trading costs. For the remaining foreign exchange pairs, the spread remained at 0.5 pips to 6000 pips.
The precious metal spread is between 0.03 and 4.00 pips, which is in the basic reasonable range due to the liquidity and volatility of the metal.
The energy spread remained between 0.05 and 0.08 pips.
The spread between the index and stocks ranged from 0.01 points to 33pips. The upper limit of this range is quite high and is not suitable for cost-sensitive traders.
The spread of cryptocurrencies is 110 points, which is significantly higher than the usual level of the forex market, with high volatility.
In addition to the above spread, the two account types provided by the broker have no commission, which reduces the cost consumption of traders to a certain extent.
| Trading Platform | Supported | Available Devices | Suitable for |
| MT5 | ✔ | Web, Desktop, Mobile | Professional trader |
| MT4 | ❌ |
Defcofx says it does not charge extra fees for deposits and withdrawals. Additional information to note is that certain banking institutions may charge additional fees.
The trader must ensure that the funds in the account are used exclusively for trading purposes, and if the deposit is still not used for trading, there may be a certain withdrawal fee.
To initiate a fund withdrawal, the trader must maintain a minimum 250% margin available. In addition, the minimum deposit is $50.
Deposit Options
| Deposit Options | Accepted Currencies | Processing Time |
| Bitcoin | USD, EUR, GBP | INSTANT |
| Instacoins | USD, EUR, GBP | INSTANT |
| Tether | USD | INSTANT |
Withdrawal Options
| Withdrawal Options | Accepted Currencies | Processing Time |
| Bitcoin | USD, EUR, GBP | Up to 3 hours only |
| USDT | USD | Up to 3 hours only |
Defcofx offers traders 24/5 customer support. In addition, you can also consult through email and offline address to get services and help. You can also find them on social media.
| Contact Options | Details |
| support@Defcofx.comaccounts@Defcofx.comsupport@Defcofx.com | |
| Online Chat | 24/5 |
| Social Media | Facebook, Instagram, Twitter, Youtube |
| Physical Address | Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia. |
For traders who want to choose a broker, Defcofx offers a wide choice of trading products, supports the use of the MT5 platform, with spreads starting at 0.3 and no swap fees. All of these factors are advantages that attract traders. However, unfortunately, its unregulated status greatly reduces the advantages of this broker, traders please think carefully.
Is Defcofx safe?
No, it's not safe. Defcofx, because of its unregulated status, brings risks and losses to traders.
Is Defcofx good for beginners?
No, Defcox is not a platform for beginners to use and trade. Its unregulated status and the complexity of some products, these factors are significant risks and obstacles for novice traders.
Is Defcofx suitable for day trading?
No, Defcofx is not suitable for day trading. Day trading requires a secure and reliable platform, but Defcofx's current unregulated status and associated risks make it unsuitable for day trading.
Does the poor customer support service leave you stunned when trading via Defcofx? Do you receive blunt, negative responses from the support team on several trading queries? Does the Saint Lucia-based forex broker pile on the losses for you by manipulating forex spread charges? In this Defcofx review, we have shared some complaints made against the broker. This will further answer your question: Is Defcofx real or fake?
If you're thinking about investing in Forex, choosing the right platform is very important. Many traders look for the best forex broker in the world, but not every broker is trustworthy. Read this Defcofx Review to learn if this offshore Forex and CFD broker is safe for investing in Forex? Discover red flags, regulation issues & more.
In this article, we’ll look in-depth at Defcofx, examining its key features. WikiFX aims to provide you with the information you need to make an informed decision about using this platform.
Defcofx offers commission-free and swap-free trading, supports the MT5 platform, provides a wide range of assets, and allows high leverage up to 1:2000 for the Silver account.
Defcofx supports withdrawals through Bitcoin and USDT (Tether) in USD, EUR, and GBP.
Forex spreads begin at 0.5 pips, but spreads for stocks and crypto can be significantly wider, ranging up to 33 pips and 110 points, respectively.
Withdrawals via Bitcoin and USDT are processed within up to 3 hours, assuming all trading conditions are met.
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MenasT
Colombia
Defcofx is the first broker with whom I have been trading on a real account, and even though I don't have big experience with other brokers to compare them, I still think this is a good trading platform. What worked for me here is the silver account and the combo of low starting deposit requirement and great leverage offer of up to 2000x. I trade forex for now and the leverage allow me to trade bigger position with smaller account size
Positive
IrineoG.
Colombia
when i came here and saw that leverage, x2000, i thought that last 0 at the end was a typo🤔, so I contactted customer support to clarify it, and to my amusement it was actually true...well, a good thing I guess... traded on a demo account and then proceeded to a real account...well, the platform was fine. but for longer term trades swaps are not in the optimal range. And it is a bit sad, as current times are good for long term holding trades, but aight
Neutral
LukasBecker
Germany
Defcofx high leverage, tight spreads, fast support ... all here from the broker. Going one by one - the leverage. WIth such leverage marging tightness is never a problem, however I recommend being careful wit it, only go with high probability trades, and for that be sure in your strategy! Spreads are indeed thin, what to add.... 24/5 support - can confirm, i dont write them at night tho, but whenever I refer to them - I dont wait much to get a reply
Positive
BrandonCampbell2112
United Kingdom
With having large funds from various traders and investors it’s quite nice that the broker's account is encrypted and the money of the company is kept separately. Which makes it a safe space…
Positive
IPadro
Peru
The time it took to get started here didn’t take any time at all and also the verification was quick. There are various assets available to trade with also good conditions.
Positive
Roch Garreau
France
For metals I trade platinum on the Gold account
Neutral
AgathePhilippe
France
It has the best trading conditions. Especially those spreads from 0,3 pips are a real truth after trading for on the forex market. I thought this is just a marketing but it's fine!
Positive
JianSingh
Malaysia
Smooth transactions and no drama. Pretty chill honestly.
Positive
LucasHauser
Switzerland
Don`t like messing around, if broker provides good trading conditions, I`m in. Especially, when it comes to the costs, tighter spreads, better profits...
Positive
CamiloFernández
Colombia
Simple yet effective, they got only two accounts, but those two cover the most needs👍 They have 0 commissions and 1:2000 leverage, this is actually more than enough for comfortable trading. Only $1000 for a Gold Account, the requirement is a bit high I guess, I'd prefer like 500$ maybe. But still, its' okay, reasonable.
Positive
PatrickChevalier
France
Both account types have these cool terms. I wouldn’t mind mt4 thou
Positive
PancaIswahyudi
Indonesia
As a beginner this is the first thing I always look out for because I don’t want to use a platform that’s very complex and this isn’t. 😎
Positive