Note: Since Edealfxs official site (https://edealfx.com/home/) is not accessible while writing this introduction, only a cursory understanding can be obtained from the Internet.
General Information & Regulation
Edealfx, a trading name of Edeal Markets Limited, is allegedly an unregulated forex and CFD broker registered in Saint Vincent and the Grenadines that claims to provide its clients with various tradable assets with flexible leverage up to 1:500 and variable spreads from 0.5 pips on the industry-standard MetaTrader4 trading platform, as well as a choice of five different live account types.
Market Instruments
Edealfx advertises that it offers a wide variety of forex pairs and CFDs on spot metals, indices, oil and natural gas, as well as cryptocurrencies of Bitcoin, Ethereum, Litecoin, Ripple, etc.
Account Types
Apart from demo accounts, there are five live trading accounts offered by Edealfx, namely Ultimate, Advanced, Professional, Extreme, as well as an Islamic (swap-free) account. However, the broker says nothing about the minimum initial deposit requirement to open an account.
Leverage
Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Ultimate, Extreme and Islamic accounts have the leverage of 1:100, while the Advanced account members can experience leverage of 1:300, and only the Professional account holders can enjoy the maximum leverage of 1:500. Inexperienced traders are advised not to use too much leverage since leverage magnifies gains and losses.
Spreads
Edealfx claims that different account types can enjoy quite different spreads. The spread starts from 0.5 pips on the Ultimate account, 1.2 pips on the Advanced account, 1.4 pips on the Professional account and 1.8 pips on the Extreme and Islamic accounts. However, as tested with a demo account, the EURUSD was floating between 2.7 pips and 3.2 pips.
Trading Platform Available
The platform available for trading at Edealfx is the worlds most trusted and popular MetaTrader4. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
Edealfx appears to accept deposits and withdrawals via wire transfers or in cash.
Customer Support
Edealfx‘s customer support can only be reached by email: support@edealfx.com. However, this broker doesn’t disclose other more direct contact information like telephone numbers or the company address that most brokers offer.
