![[New] DeGiro Review](https://select-broker.net/wp-content/uploads/2022/09/degiro-front-page-150x150.png){kind=small}
CoverdealFX.com is a forex broker that offers CFDs on stocks, commodities, indices, bonds and cryptocurrencies in addition to currency pairs. Learn more about CFDs here. CoverdealFX belongs to the Coverdeal Holdings Limited group, this company is licensed in Europe by the regulatory authority CySEC. Thanks to this regulation, the broker can legally offer its services in Europe. The average spread for the EUR/USD currency pair is 3.0 pips*, while the minimum deposit is set at $250. The broker’s website is available in 3 languages.
Coverdeal FX Review – Broker overview
| Minimum deposit | 250 USD |
| Platform | MT5 |
| Regulated broker | Yes |
| Regulations | CySEC |
| Demo account | Yes |
Special features and advantages
| Automatic Trading (EAs) |
Trading platform
CoverdealFX allows traders to use the MT5 trading platform. This platform is the successor to the world’s most popular forex trading platform, MT4. Through the platform, broker CoverdealFX provides access to approximately 260 trading assets. MT5 can be downloaded on any device, or you can use the so-called web trader, which can also be run in a web browser.
CoverdealFX spreads (fees)
Just like any other CFD broker, CoverdealFX charges a spread fee. For the current value of this fee, please visit the CoverdealFX website. We have prepared a small comparison table here, where you can find the amount of CoverdealFX spread fees on popular currency pairs compared to 2 other popular CFD brokers.
EUR/USD | EUR/USD | USD/JPY | GBP/USD | AUD/USD |
| Plus500* | 0.6 | 0.7 | 1.1 | 0.6 |
| XTB* | 0.8 | 1.4 | 2.0 | 1.7 |
| CoverdealFX** | 3.0 | 3.0 | 3.0 | 4.0 |
** the spread value was gathered from the broker’s trading platform 10/06/2019 at 17:42
CoverdealFX Review – Summary
CoverdealFX must adhere to the strict regulatory guidelines of the CySEC regulatory authority. The broker offers a good number of CFD assets, but the spreads it charges are quite high and cannot even come close to the competition in the industry. The minimum deposit value is also on the high-end.
Advantages
- Wide range of assets
- Relatively strict regulation
- MetaTrader 5
- Demo account
Disadvantages
- High spreads
- High minimum deposit
