Fondex Review 2026

How safe is Fondex?

Fondex is slightly shifty or vague about its regulatory status, which was why it scored 48.5 out of 100.

1. Regulation

Their website states the following: “Fondex Global Limited is an exempted Company incorporated and registered under the law of Bermuda with registration number 54010.”

The Bermuda Business Registry lists Fondex as a company registered in Bermuda.

After checking the business registry, we then checked the Bermuda Authority Website (BMA) and there is no mention of Fondex so we can confirm the broker is not regulated. To hold a regulatory licence to offer Forex trading services with the BMA the broker needs to hold a “Class F” licence meaning the broker can operate as a digital asset derivative exchange provider.

We think it is a shame Fondex chose not to hold a regulatory licence with the BMA and operate purely as an offshore broker since it would add a lot of credibilities. IG Markets one of the world’s largest and most regulated CFD brokers holds this “Class F” licence for example.

Two final points to note, we found some suggestions on other broker review websites that Fondex is regulated by the Cyprus Securities and Exchange Commission (CySEC). While this may have been correct once, they no longer are.

We also received a popup when we checked the Fondex website that would be taken over by TopFX Ltd., a broker regulated by the Financial Services Authority (FSA) in Seychelles.

With the takeover still an open question, I do wonder about the longevity of Fondex as a company.

2. Reputation

Fondex was established in 2017 in Cyprus. It drew 0 worldwide branded Google searches in September 2026, ranking it sixty-first among the 61 brokers we track. Web traffic data confirms this limited presence, with Similarweb reporting just 8,000 global visits in February 2026, positioning Fondex as the 64th most visited broker.

Fondex is also a relatively newer entrant to the market. The broker doesn’t publicly disclose its client numbers or trading volumes, but its extremely limited search and traffic metrics suggest a niche operator rather than a broker with broad market penetration. Despite its low visibility rankings, Fondex has worked to differentiate itself through its cTrader-exclusive platform offering, targeting a specific segment of algorithmic and copy traders.

Country, 10 rows.

Country	2026 Monthly Searches	Rank
Colombia	2,400	1st
France	210	2nd
Mexico	110	3rd
Indonesia	90	4th
Sweden	70	5th
United States	50	6th
Australia	50	7th
Spain	50	8th
India	40	9th
Turkey	30	10th

3. Reviews

Our score for Fondex is set against every other broker on our forex broker reviews.

Verdict

Given the above, we ranked Fondex very poorly regarding broker trust and safety.

What traders say about Fondex

What other review sites say about Fondex

These are ratings of Fondex from other platforms, read on the date shown and expressed on each platform's scale, so you can weigh them against our own score.

Platform	Rating	Volume	Read on
Trustpilot	1.7 / 5	70	Nov 1, 2026

Fondex holds a Trustpilot rating of 1.7 out of 5 from 70 reviews, checked Nov 1, 2026.

Our score is based on published criteria and is not influenced by these third-party ratings.

How popular is Fondex?

Fondex is searched too rarely for month-on-month change to be meaningful: 0 branded searches in September 2026, 61st of 61. Search interest measures attention, not quality; the score above is the review verdict.

61of 61Search interest rank

0

Brand searches, September 2026

n/a below 1,000

vs August 2026

0

Login searches

0.0%

Share of all searches

Source: Google search volume, Worldwide, September 2026.

How this is measured

Google Ads reports how many times a month people searched each broker's brand terms, and the brokers are ranked on that figure alone.

A term counts for a broker only when that broker's own website holds the first organic Google result for it; bare brand words that any company could own are left out.

A month-on-month change prints only where the previous month reached 1,000 searches, because Google rounds smaller volumes.

The figures refresh on the 15th of each month with the newest month Google has published, and the first-result check repeats every quarter.

Fondex at a glance

Note: Fondex Global (formerly Kawase) terminated its operations under the Fondex brand by December 30, 2022, according to the firm’s own notice. This page is just for reference. Other brokers offering the cTrader platform that we recommend are Pepperstone and BlackBull Markets.

Fondex spreads and fees

We hold no EUR/USD spread on record for Fondex, so this review carries no cost calculator. The spread and commission each account charges are in the fees table on this page.

Fondex uses a hybrid agency model, meaning it uses a mix of execution types. This may mean Fondex may use a Market Maker model and be your counterparty. At other times, Fondex may connect you with their liquidity provider (or providers, they wouldn’t reveal) based in New York.

Spreads

Fortunately, Fondex displays the average spread of all its currency pairs on its website daily. As you can see in our module below where we compiled the average spread Forex Fees broker publish on their website, spreads with Fondex are market-beating (and by some margin).

Standard Account Spreads, compared on spreads.

Standard Account Spreads	EUR/USD	AUD/USD	EUR/GBP	GBP/USD	USD/JPY
	0.28	0.51	0.70	0.71	0.50
	1.10	1.10	1.20	1.20	1.30
	0.80 (min)	0.80 (min)	1.00 (min)	0.80 (min)	0.80 (min)
	1.2	1.48	1.47	1.51	1.49
	0.80	0.90	1.20	1.20	1.30
	1.10	1.10	1.60	1.80	2.20
	1.20	1.30	1.30	1.50	1.10
	1.06	0.99	1.18	1.77	1.12

Avg. spreads are taken from each broker’s website and updated monthly. Last update on 1 Sep 2026, corrected 12 Oct 2026

Fondex lists average spreads on its website for no-commission trading that are unusually low for that account type. That claim invites scepticism, because the same website advertises spreads “from” 0.5 pips, which is higher than the averages it lists. An average sitting below the advertised “from” figure is hard to take at face value, and readers comparing costs should weigh that inconsistency before treating the listed averages as typical.

You can check the numbers yourself. Fondex has a page devoted to trading execution transparency that lists its average spreads for 15-minute intervals, so the listed averages are open to independent scrutiny. I would treat the headline averages as a best-case indication until the interval data on that page supports them.

When we look at the graph for EUR/USD, we can see that their average daily spread doesn’t come close to the 0.45 pips daily average they claim to have. The tightest spread we could find was 0.64 pips with most intervals hovering between 0.68 and 0. 75 pips with spikes at a particular time each day (most likely when the New York Forex market opens).

Account Types

Fondex Standard Account

Fondex offers just one trading account type which is a Standard account. This account has no commissions when trading Forex and spreads from 0.5 pips (but is more likely to be around 0.70 pips or higher, which is still competitive).

This is interesting given you will be trading via the cTrader platform which in our experience, is nearly always using a commission-based (aka RAW, ECN, or STP) trading model.

Fondex has no minimum deposit requirement, and you can choose from 10 base currencies including Bitcoin.

Indeed, Fondex also used to have a commission-based model, which is why we found the broker’s website has contradictory (more specifically outdated) information in parts of its website. For example, their homepage advertises zero commissions, but the FAQs state that Fondex charges a dynamic commission starting from $2.5 per lot (per side), decreasing according to trading volume.

This isn’t helpful regarding the user experience with the broker’s website. We reasonably expect any broker’s website to be up-to-date and consistent.

Leverage and negative balance protection

Fondex offers fairly High Leverage Forex Brokers, up to 1:500 for retail and professional traders when trading Forex pairs. While having access toLeverage can be a useful tool for increasing profits, the opposite is true, and losses can quickly chew through your trading account. So it’s fair to say, that trading with such high leverage is only recommended if you have sound trading experience and can afford to take on any risks should markets move against you.

Considering these risks of unfavorable movements and the potential losses that may result, we think it is good that Fondex includes negative balance protection. Generally, these protections are provided due to requirements of the regulator, so we found it surprising (but in a good way) given that Fondex is an unregulated broker.

Order execution and execution speed

Fondex uses market execution rather than instant execution. This means if slippage occurs, you will get the next best available price and there will not be requotes.

According to Fondex customer service, execution speeds tend to take 100 to 200 ms once the order has been processed by the cTrader platform and sent to the liquidity provider. Our 2026 Execution Speeds test timed 36 brokers, and its averages across all of them were 143 ms on limit orders and 149 ms on market orders, so a 100 to 200 ms range sits around those averages. You can find faster times with BlackBull Markets, which averaged 72 ms on limit orders and 90 ms on market orders, and with Pepperstone, which averaged 77 ms on limit orders and 100 ms on market orders.

Swap-Free Account

Fondex offers an Swap Free Islamic Accounts however we should point out that there will be an administration fee applied for each day you hold an open position. So Fondex is just replacing the rollover or swap fees with an admin fee so we do question if their swap-free account is truly Sharia-compliant. We however are not experts on this subject so do your research.

To set up an Islamic account, you must email the broker with ‘proof of faith’ and request this account.

Verdict

We didn’t mind that Fondex has only one account type available but you will pay for this with higher spreads (even if there are no commissions). We just wish Fondex were more consistent with their trading cost information such as commission and spreads on their website. We also wish finding detailed information about the Islamic account was easier.

Deposits and withdrawals with Fondex

Fondex also has a fairly limited range of funding options, but it offers the ability to fund your account using cryptocurrency or fiat currency.

What is the minimum deposit at Fondex?

Fondex states in various places on its website that they don’t have a minimum, but this appears to be contradicted elsewhere.

For example, their funding page in small fine print clearly states certain limitations, including a €100 minimum deposit via bank transfer and a 250 USD minimum deposit.

After speaking with customer service, we discovered that Fondex has minimum deposits. Hence, the branding used extensively across their website appears disingenuous and misleading.

Account Base Currencies

While you can fund your account with Bitcoin and a range of fiat currencies including USD, EUR, GBP, and more (including with cryptocurrency conversion), we think the funding options are pretty limited overall, especially considering they are missing some key providers like PayPal, NETELLER and Skrill.

Deposit Options and Fees

Fiat accounts

For fiat accounts, you can fund your account via a SEPA wire transfer (a bank transfer), which takes 1-3 business days. This obviously isn’t ideal if you’re rushing to get your account funded quickly, but on the plus side, Fondex does not charge fees.

The alternative option is B2B in Pay, which can only be used to fund your trading account with cryptocurrency. This option will automatically convert your crypto to the fiat currency your account is denominated in.

Cryptocurrencies that can be used to fund your account include Ethereum (ETH), Litecoin (LTC) and Tether (USDT).

Fondex states they don’t charge fees for this funding option either, but from our research, it looks like B2B in Pay possibly does, so do check before funding your account.

Bitcoin accounts

One of the things we do like about Fondex is you can choose to denominate your trading account in Bitcoin. Again, there are two options to fund your account: directly using a Bitcoin address or via B2B in Pay.

Deposits are processed almost instantly if funded directly from a Bitcoin wallet but take a little longer when using B2B in Pay. With this option, there are no conversion fees, and the Bitcoin is stored securely in ‘cold storage.’

Deposit bonus

While Fondex does offer a deposit bonus when you first deposit funds into your account, it’s important to recognise that many regulators have banned these sorts of strategies.

It should go without saying that it’s always important to focus on the quality and features of a forex broker, rather than any incentive they might be offering to entice you to deposit funds.

If you are planning on taking up the offer, be aware that the deposit bonus is credited to your account only after you deposit funds and request it from the broker directly. The bonus is provided in the form of credit and is capped at $2,000, which isn’t withdrawable, effectively increasing your total trading account size.

Withdrawal Options and Fees

Traders are only charged a withdrawal fee of 0.9% when they use bank wire transfers and withdraw less than EUR 1000. You should note that a minimum of EUR 20 can be withdrawn when using Bank Wire Transfer for withdrawals.

Ease To Open An Account

Setting up an account with Fondex is easy, quick, and straightforward. To open an account, we selected “Start trading now” via their home page, at this stage, you can choose between a demo or a live account.

Should you choose a Demo account, you enter a username and password, you can even use your Gmail sign-in. There is no need to enter further details like your credit card. At this stage, you will be directed to the web version of cTrader.

To activate a live account, you can choose ‘Create a live account’, instead of Demo account or Activate Account if you are on the Demo account.

Here are the steps you need to take:

1. Click on the “Start Trading Now” button at the top of the page and fill in your email address, and register a password
2. Proceed to add your personal details, including name, surname, date of birth, and physical address.
3. You must then complete a questionnaire that helps Fondex assess your investment knowledge, experience, and expertise. Note, if you fail the questionnaire then you won’t be able to open a live account.
4. Once you pass the questionnaire, you will then be prompted to add your KYC information, which can include the following:

• Proof of Identification, Fondex accepts all government-issued identification documents such as Passports, national ID cards, driving licence, or other government-issued IDs.
• Proof of Address, Proof of residence/address document must be issued in the account holder’s name within the last 6 months and contain your full name, current residential address, issue date, and issuing authority. Once this step is complete, you can fund your account and commence trading.

We wanted to add that while the questionnaire might be considered an annoying extra step by some, we think it demonstrates Fondex’s responsibility only to serve customers who have the required knowledge to begin trading. As such, we scored Fondex highly for the account opening process. Despite this minor annoyance, the signup process is pretty straightforward.

Verdict

It’s unclear what the minimum deposit amounts are and whether processing fees are charged using their third-party crypto payment provider. The broker doesn’t specify these and the onus is put on the trader.

Fondex trading platforms and app

Fondex only offers trading via the cTrader platform developed by a third party called Spotware Systems. It is a popular free/mainstream alternative to MetaTrader 4, MetaTrader 5, and TradingView. The trading platform is particularly designed to meet the needs of No Dealing Desk Brokers, meaning is The trading platform is popular with scalpers due to its fast execution speed and depth of market (DoM).

Like all platforms, it has strengths and weaknesses. We have compared cTrader vs MT4 in the past.

cTrader

Compared to MetaTrader 4, the cTrader platform has more advanced trading and analysis capabilities, offering the ability to assess market depth in greater detail, access a larger number of indicators and timeframes, and use various sophisticated order types. It also has an inbuilt trading performance dashboard and is generally suited to more experienced and professional traders who adopt scalping and day trading strategies.

You can access the cTrader platform via the webtrader, the desktop app, and the mobile/tablet app.

Fondex cTrader On Web And Desktop

The Fondex Trade platform offers over 70 pre-installed indicators and provides you with trading ideas from Autochartist which we think is a helpful feature.

They also provide you with a market sentiment gauge, a depth of market order book, and advanced order types including advanced take profit orders, advanced stop loss orders, one cancels the other (OCO) orders, and trailing stops.

The Trade platform is also accessible via webtrader, mobile, and desktop apps.

Fondex cTrader Mobile

Fondex cTrader Copy

Fondex’s copy trading platform has won a couple of awards for best trade execution and platform and provides you with access to a wide range of other traders’ trading strategies.

We checked out the platform, and the user interface is fairly decent, allowing you to easily browse and assess each strategy using its profitability/equity curve.

You can also allocate multiple copy strategies and combine them with algorithmic and manual trading, which is a cool function.

Each copy trading strategy is automatically placed in a separate account from the other strategies, allowing for better risk management. Additionally, if you want to increase or reduce exposure to a specific strategy, you can do so without needing to close the position entirely.

The Copy trading platform is accessible via the web trader, mobile app, and desktop app.

Fondex cTrader Automate

The Automate platform (formerly called cAlgo) allows you to use a range of trading robots that are accessible via the cBots library. There are a range of pre-packaged cBots to choose from including trend-based and range-based automated trading strategies. Alternatively, you can create your own if you have the programming skills.

Importantly, you can use automated MetaTrader robots and expert advisers (EAs) with Fondex cTrader, which is a big plus but requires some technical knowledge. You can only access the Automate platform via the desktop app.

Demo account

Fondex does offer a demo account that lets you test the cTrader platform using real-time market data. Click ‘Start trading’ from the top-right of the broker’s website or ‘Open a demo account’ from the homepage and it will load the cTrader workspace. You can start to get a feel for the platform and if you like it, you can easily set up a client account by adding your KYC details.

The demo account is good for 30 days and is easily transferable into a real account. We think this is a good call from Fondex, especially as many traders are used to using MetaTrader rather than the cTrader platform.

Verdict

Overall, we think the functionality offered by Fondex via cTrader is good. Still, the lack of a proprietary platform combined with the lack of integration with MetaTrader 4 and TradingView caused the broker to lose marks based on the out-scoring methodology.

Markets you can trade with Fondex

Fondex offers a wide range of financial instruments to trade including over 80 currency pairs which is a substantial range, but they are fairly limited across other markets.

While their shares offering is decent with more than 500 to choose from, there’s no way to purchase the underlying shares.

Likewise, their indices offering is good with all the majors you would expect including the US Tech 100, US 500 and Aus 200, but they don’t offer any bonds, interest rates or options. Additionally, their commodities and energy CFDs are fairly limited.

Fondex allows leverage up to 1:500 when trading currency pairs which is pretty high. It should be said however that while excessively high leverage is never a good idea, we like the flexibility and choice it provides, leaving it up to you to select whatever leverage suits your risk appetite.

Verdict

As mentioned, we like the 1:500 leverage provided for forex pairs, and with 80+ pairs to choose from, there is plenty of selection.We scored Fondex highly for this but we felt the overall offering was lacking across other asset classes which detracted from the overall rank.

Fondex customer service, research and education

Fondex offers live chat support 24/5, plus phone and email support. Support is available in Arabic, English, French, Greek, Russian and Spanish.

Verdict

Between the 24/5 live chat, phone and email channels, and support in Arabic, English, French, Greek, Russian and Spanish, Fondex gives you a reasonable range of ways to get help during the trading week.

Research and education

Fondex has a decent range of educational-related articles and the content is fairly good, although there isn’t any way to filter or search for something you’re specifically looking for. While they have some FAQs, they aren’t very detailed and don’t provide much useful information.

Additionally, there aren’t any trading courses, webinars, or other events, and their Market News section is no longer being updated with the last post dated 6th April 2022. Likewise, the last update on the Fondex News section is from 2021.

Verdict

While we think the nature of the Educational Articles section is decent, we would have liked to see different content types including courses, training sessions, and webinars.Also, given there is no way to filter the existing articles by topic, this makes it a little cumbersome to scroll through until you find what you’re looking for.Considering the above, in combination with the relatively ‘lite’ FAQs and the outdated Market News and Fondex News section, we ranked Fondex as average.

Our final verdict on Fondex

For us, the big issues with Fondex are that they are unregulated, and are not always clear when presenting some of the information on their website. All that said, the broker does have a few features going for them that make them stand out among many no-dealing desk brokers who can be slightly generic at times.

The most obvious difference is that you will be using the cTrader trading platform along with cTrader Copy and cTrader Automate rather than MetaTrader 4, MetaTrader 5, or even TradingView. While cTrader is overshadowed by these other platforms, it’s a strong trading platform in its own right and comes with a Depth of Market (DoM), fast execution, and useful analysis tools which make it popular with scalpers and swing traders. Other features include decent spreads with no commission, leverage of 500:1, and account funding with cryptocurrencies.

Overall, we can’t deny that Fondex has a decent offering, we just wish they were regulated, preferably with a tier 1 broker.