Defcofx Is A Brokerage Company From Saint Lucia. At Present, Defcofx's Main Business Is To Provide Traders With Various Trading Products And Financial Services. In Particular, It Supports The Use Of The MT5 Platform, No Commissions, No Exchanges, And Handling Fees.

However, It Is Currently In An Unregulated State, And Its Operations Are Not Subject To Legal Constraints, So The Safety Of Traders' Funds May Not Be Fully Guaranteed, And There Are Risks.

Advantages: No Commissions, Support For A Large Number Of Tradable Products In MT5, Spreads From 0.3, No Exchange Fees

Disadvantages, No Regulation

Is Defcofx Legal?

Defcofx, A Broker, Is Currently Unregulated And Operates Outside Of Laws And Regulations. For Traders, There Are Certain Risks.

What Can Defcofx Trade?

Defcofx Offers Traders 61 Currency Pairs With Spreads Starting From 0.5 And Leverage Up To 1:2000. It Offers Global Index CFDs With Spreads Starting From 0.5 Across 11 Indices. There Are Also More Than 55 US Stocks Available For Trading, I.e. More Than 55 Large-cap CFDs Traded On ASX, NYSE And NASDAQ. It Also Offers Hot Cryptocurrencies, A 24/7 Trading Market That Supports Long And Short. In Addition, It Also Offers Trading In A Variety Of Metals, Including Precious Metals Such As Gold, Silver, And Base Metals Such As Platinum.

Tradeable Instruments: CFD, Forex, Precious Metals, Energy, Indices, Stocks, Cryptocurrency

Account Types

Defcofx Offers 2 Account Types: Silver Account And Gold Account.

Among Them, The Minimum Deposit For Silver Account Is 50 Dollars And The Leverage Ratio Is 1:2000. The Entry Threshold For Gold Account Seems To Be More Friendly For Newbies, But The Higher The Leverage, The Greater The Risk. In Comparison, The Minimum Deposit For Gold Account Is $1,000 And The Leverage Ratio Is 1:50.

Both Account Types Support The Use Of The Defcofx MT5 Trading Platform And Offer Zero Commission Trading With Spreads Starting From 0.5 Pips. They Also Do Not Charge Swap Fees Or Interest Handling Fees, Which Is Very Advantageous For Traders Who Want To Keep Costs To A Minimum.

Defcofx Fees

Defcofx Spreads And Commissions

Defcofx Indicates That Low Spreads Are Offered. Spreads Start From 0.5 Pips For Both Account Types.

In Forex Currency Pairs, The Fixed Spread Between EUR And USD Is 0.5 Pips, Which Is Advantageous For Traders And The Trading Costs Are Low. For Other Forex Exchange Pairs, The Spread Remains Between 0.5 Pips And 6000 Pips.

The Spread For Precious Metals Is Between 0.03 Pips And 4.00 Pips, Which Is In A Basically Reasonable Range Due To The Liquidity And Volatility Of The Metals.

The Spread For Energy Remains Between 0.05 Pips And 0.08 Pips.

The Spread For Indices And Stocks Ranges From 0.01 Pips To 33 Pips. The Upper Limit Of This Range Is Quite High And Not Suitable For Cost-sensitive Traders.

The Spread For Cryptocurrencies Is 110 Pips, Which Is Significantly Higher Than The Usual Level In The Foreign Exchange Market And Has High Volatility.

Apart From The Above Spreads, There Are No Commissions For Both Account Types Offered By This Broker, Which Reduces The Cost Consumption Of Traders To Some Extent.

Deposits And Withdrawals

Defcofx Indicates That No Additional Processing Fees Will Be Charged For Deposits And Withdrawals. It Is Important To Note That Certain Banking Institutions May Charge Additional Processing Fees.

Traders Must Ensure That The Funds In The Account Are Used Only For Trading Purposes. If The Deposit Is Still Not Used For Trading, A Certain Withdrawal Fee May Be Charged.

To Initiate A Withdrawal Of Funds, Traders Must Maintain A Minimum 250% Margin Available. In Addition, The Minimum Deposit Amount Is 50 Dollars.

Client Server

Defcofx Provides 24/5 Customer Support For Traders. In Addition, You Can Also Consult Via Email And Offline Address For Services And Assistance. You Can Also Find Them On Social Media.

Email: Support@Defcofx.com

Social Media: Facebook, Instagram, Twitter, Youtube

Physical Address: Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Grows-Islet, Saint Lucia.

Bottom Line

For Traders Who Want To Choose A Broker, Defcofx Offers A Wide Selection Of Trading Products, Supports The Use Of The MT5 Platform, With Spreads Starting From 0.3 And No Exchange Fees. All These Factors Are Advantages That Attract Traders. Unfortunately, However, Its Unregulated Status Greatly Reduces The Advantages Of This Broker, Traders Are Advised To Consider It With Caution.

FAQ

Is Defcofx Safe?

Not Safe. Defcofx Poses Risks And Losses To Traders Due To Its Unregulated Status.

Is Defcofx Suitable For Beginners?

Not Suitable. Defcofx Is Not A Platform For Beginners To Use And Trade. Its Unregulated Status And The Complexity Of Certain Products, These Factors Are Significant Risks And Obstacles For Novice Traders.

Is Defcofx Suitable For Day Trading?

Not Suitable. Defcofx Is Not Suitable For Day Trading. Day Trading Requires A Safe And Reliable Platform, But Defcofx's Current Unregulated Status And Associated Risks Make It Unsuitable For Day Trading.