ContinueFX is a Forex and CFD broker. Even though the firm offers a variety of trading accounts, no real information is provided on the difference in the actual trading conditions for the premier clients. According to the official website of the broker, ContinueFX which is also referred to as Continue Markets Limited is incorporated in St. Vincent and the Grenadines as an International Broker Company. The registration number allocated to the firm is 24452 IBC 2018. The broker offers its services to anyone from around the world save for residents of the USA, Myanmar, North Korea, Iraq, and Cuba.
The regulation of ContinueFX Forex broker
As stated above, the license number of this broker is 24452 IBC 2018. But as you may already be aware, St. Vincent and the Grenadines are used as tax havens by people from around the world. As such, a firm that seeks to recruit clients from outside the territory should be viewed with some suspicion because it is very easy for such a firm to disappear with your investment. Moreover, St. Vincent is not recognized as being a strict enforcer of financial related laws. The top regulators of Forex and CFD trading are CySEC, FCA, and FSB.
Trading at ContinueFX
In many of the ContinueFX reviews, you will discover that the firm is recognized for offering its clients two leading trading platforms namely; MT4 and MT5. No matter the operating software or mobile device that you might be using, your trading needs are well catered for here. The broker boasts of offering over 70 different types of Forex currency pairs, access to 15 major indices, CFDs and cryptocurrency trading.
The ContinueFX scam review shows that the spread at the firm starts from 1.6 for the most basic account. This can be considered competitive since the market average is 1.5. The leverage which the firm offers is 1:300 for the basic account. This is quite high given that in European regulators where major watchdogs are found insist on the ratio dropping to 1:30.
The different types of accounts
There are three types of accounts offered at ContinueFX. There is the Elite account which requires a minimum initial deposit of $100. It is the most basic account and leverage is at 1:300 while minitrade volume is at 0.01. There is the Prime account where the spread is at 1.2 pips and leverage is the same as that of the Elite account. The minimum deposit is $2000. The premier account offered by the broker is called VIP which attracts a minimum deposit of $20,000. Leverage for the account is set at 1:100 while spread starts from 0.2 pips. Payment options offered by the firm include Skrill, China Union Pay, CashU.
Is ContinueFX legit?
This is a question that many traders ask themselves especially after realizing that the broker is registered and licensed in St. Vincent and the Grenadines. Well, there are several reasons why you should not jump hurriedly to open an account with them even though they have a cool platform. The lax regulations, the high leverage and the vagueness of company details should persuade you to rethink on opening an account here.