SVS FX Review
Overview
Company Information SVSFX is an English online Forex trading broker property of SVS Securities PLC. The company was established in 2003 and since then have acquired many customers and improved… more
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| Broker | SVS FX |
|---|---|
| Website URL | http://www.svsfx.com/ |
| Headquarters | London, United Kingdom |
| Support Number | +44 (0)20 3700 0106 |
| Support Email | support@svsfx.com |
| Support Types | Phone, Live Chat, E-mail |
| Languages | English, German, Hindi, Italian, Chinese |
| Minimum Trade Amount | 1 lot |
| Maximum Trade Amount | 200 lots |
| Free Demo Account |  |
| Regulated | |
| Regulation | Financial Conduct Authority (FCA) |
| Account Types | Live, Demo |
| Deposit Methods | Visa, Visa Electron, Maestro, MasterCard, Skrill, Neteller, Gate2shop, Bank Transfer |
| Withdrawal Methods | Visa, Visa Electron, Maestro, MasterCard, Skrill, Neteller, Gate2shop, Bank Transfer |
| Types of Assets | Forex, CFDs, Oil, Gas, Indices |
| Account Currency | GBP, EUR, USD, HKD, CHF, AUD |
| US Traders Allowed |  |
| Mobile Trading | |
| Tablet Trading | |
Full Review
Company Information
SVSFX is an English online Forex trading broker property of SVS Securities PLC. The company was established in 2003 and since then have acquired many customers and improved their services a lot. The company operates under the authority of the FCA in the United Kingdom. Headquarters of the company are located in London, UK. The company doesn’t allow US traders on the platform. With over a decade of experience in the industry, SVSFX offers some of the best trading conditions and features. The low minimum deposit requirement and flexible leverage attract many novice and expert traders. It’s one of the brokers that haven’t been in the spotlight for many years but have still done a stellar job in providing Forex trading services to many traders from around the world. There is no doubt that SVSFX is a choice to be considered when looking for a new Forex trading platform. Let’s see what it has to offer.
Trading Information
SVSFX offers five types of different accounts depending on the platform you use. The first one is the Web trader Mini account where you can start trading with just $1. Maximum leverage is set to 1:400 and the spreads are 2.5 pips for EUR/USD on average. Next, is the Webtrader Standard account where you have a $100 minimum deposit requirement. The leverage again is 1:400 at maximum and spreads go around 1.7 pips for EUR/USD. The Webtrader VIP offers the best possible trading conditions but for the hefty price of $25 000 first deposit. The spread is tight and average one pip for EUR/USD. The MT4 Plus account is the MT4 variant of the Webtrader mini with a $1 minimum deposit requirement and average of 1.9 pips spread from majors. Last but not least is the MT4 Pro account that has spreads evaluated by raw interbank and commissions. It has a minimum deposit requirement of $25 000. Scalping and hedging are allowed, but there is no Islamic account support.
Trading Platforms
As we already mentioned SVSFX had chosen the Metatrader 4 as their main platform. It’s not surprising at all considering it’s still one of the best platforms for many traders. What makes it superior to other platforms is that it’s been around for a decade and is proven to be very stable. The MT4 also offers to trade from the chart, trading from signals and one-click orders. It has multi-language support and over 250 trading instruments. Streaming news feed and all types of analysis are available along with automated trading. It’s suitable for beginner and professional traders and is available for most desktop devices. People who look for mobile trading capabilities can download the MT4 application from the Apple and Android app stores. The people from SVSFX have even made the effort to develop a Webtrader platform for people who don’t like to download and install additional stuff on their devices. The only thing you need for the Webtrader platform is your login information and an internet connection.
Security and Customer Services
As far as security is concerned SVSFX have taken care of all the needed measures to protect their clients. They are an FCA regulated company with £50 000 investment loss coverage. Their login and open new account page are protected by an SSL protocol which ensures personal data will only be available to the company’s employees. Your funds are separated in segregated accounts which make it safe if anything happens to the enterprise. Customer support is standard with 24/5 coverage. Contacting the customer support is easy with several numbers for different countries available. There is language support for the UK, Chinese and Indian customers. The website is translated in four languages which are below the industry standard. A fax number and a postal address for their headquarters are also available. An email address is available for all customers who prefer this type of communication. There is also a Live Chat support system and an online form.
Deposits and Withdraws
Funding you SVSFX account is secure with plenty of payment methods available. There is a total of eight deposit options. Processing times are not mentioned but usually, go from instant to a couple of days (3-10 for Bank Wire). The minimum deposit for an account is $100. What’s a bit surprising is that there are deposit fees for some of the methods which compared to other brokers is a disappointing (most of them don’t have any deposit nor withdrawal fees). Withdrawals are made with the same method you deposited the money. The processing times are relatively quick. There are withdrawal fees just like for the deposit, and some of them (for credit cards) go up to the big 20% charges on every transfer. This could be a huge deal for people who would like to use this payment method and transfer money regularly.
Deposit Bonus and Loyalty Programs
The current promotion that SVSFX offer is the “Refer a friend bonus”. To be eligible you have to refer a friend to the platform, and he has to make a minimum deposit of $100. You’ll get 10% of the first deposit that your friend makes. The bonus can go up to $1000 (for a $10 000). You can only collect five maximum bonuses for every one of your friends you refer to a total of $5000. The company also offers a “$100 No Deposit Bonus” for new customers. You’ll have to check their terms and conditions page to see what are the withdrawal requirements for the bonus.
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