According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $50
- MetaTrader5
- Regulation in Saint Lucia
Our Evaluation of Defcofx
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Defcofx is a moderate-risk broker with the TU Overall Score of 6.83 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Defcofx clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
Defcofx is a Forex and CFD broker providing favorable conditions for traders of all experience levels. With fast order execution, low spreads, and robust fund protection, it is an attractive option for active trading. Its user-friendly interface and multilingual support enhance accessibility, while the absence of swap fees and hidden charges minimizes trading costs.
Brief Look at Defcofx
Defcofx is an international Forex broker providing access to over-the-counter trading in currencies and other financial instruments, including CFDs on stocks, indices, commodities, and cryptocurrencies. Founded in 2024 in Saint Lucia, the company operates under a license issued by the local regulator (No. 2024-00205). Defcofx offers a range of account types, leverage up to 1:2000, and negative balance protection across all accounts. Clients can trade using the MetaTrader 5 platform, supporting any trading strategy. The spreads are floating and there are no swap charges.
Defcofx does not accept traders from the United States, Canada, Singapore, China, Romania, and countries subject to sanctions by the Financial Action Task Force (FATF), European Union (EU), and United Nations (UN).
We've identified your country as
US
We have thoroughly analyzed all companies legally providing trading services in your country and created a ranking of the best ones. Our analysis highlights companies that offer optimal working conditions, uphold a strong reputation, and consistently receive the highest number of positive reviews from traders on our website.
Explore the 5 top-rated companies in
US :
- High leverage up to 1:2000, suitable for aggressive strategies and experienced traders.
- A multi-functional MetaTrader 5 (MT5) trading platform with support for automated trading and advanced technical analysis.
- A low minimum deposit of $50, makes it accessible for beginner traders.
- There are no swap fees on any account type.
- Support for over 130 trading instruments, including CFDs on stocks, indices, metals, cryptocurrencies, and currency pairs.
- Floating spreads from 0.3 pips, reducing trading costs.
- Negative balance protection to minimize client losses.
- Regulation in Saint Lucia does not provide the same level of investor protection as stricter jurisdictions.
- Client investments are not protected by any compensation schemes in the event of company bankruptcy.
TU Expert Advice
Financial expert and analyst at Traders Union
Defcofx is a young Forex broker specializing in CFD trading, rather than focusing on real asset ownership. It offers highly leveraged trading, a feature that experienced traders can effectively use in their strategies. Beginners can easily enter the financial markets with Defcofx, thanks to low minimum deposit requirements, readily available demo accounts, and comprehensive educational resources. Account registration is a swift process, typically completed within minutes. However, before any funds can be withdrawn, clients are required to complete the mandatory KYC process by submitting the necessary identification documents.
The MT5 trading platform provided by Defcofx enables trading across a diverse range of assets, including 61 currency pairs, 11 indices, over 55 U.S. stocks, and metals such as gold, silver, platinum, and palladium. Recently, oil (WTI and Brent) has been added to the platform's offerings. While clients can currently trade BTC/USD and BTC/EUR pairs, support for other cryptocurrencies is not yet available. Leverage levels vary by specific asset and chosen account type. Importantly, each client has the flexibility to set their own preferred maximum leverage limit upon account opening, allowing for effective risk management.
The user account interface is user-friendly, facilitating convenient account management, easy access to educational materials and analytical tools, and enhanced security through two-factor authentication (2FA). The platform is currently available in English and Spanish. Client support is available 24/5 during market hours to address any inquiries or issues that may arise.
Defcofx Trading Conditions
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| 💻 Trading platform: | MetaTrader 5 (MT5) |
|---|---|
| 📊 Accounts: | Live (Silver, Gold), Demo, Introducing Broker (IB) Account, Referral Bonus Account |
| 💰 Account currency: | USD, EUR, and GBP |
| 💵 Deposit / Withdrawal: | cryptocurrencies, Perfect Money |
| 🚀 Minimum deposit: | $50 |
| ⚖️ Leverage: | Up to 1:2000 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 lots |
| 💱 EUR/USD spread: | 0,5-1,5 pips |
| 🔧 Instruments: | CFDs on Forex, CFDs on cryptocurrencies, indices, commodities (metals and oil), and U.S. stocks |
| 💹 Margin Call / Stop Out: | 50%/20% |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Market |
| ⭐ Trading features: | All trading strategies are allowed, and no swaps are charged on all accounts |
| 🎁 Contests and bonuses: | Yes |
Defcofx does not restrict clients in choosing trading strategies. Scalping, news trading, hedging, algorithmic trading, and other techniques are allowed. All accounts support micro-lot trading and one-click trading. By default, all accounts are Islamic, meaning no swaps are applied.
Defcofx Key Parameters Evaluation
Share your experience
- Best
- Last
- Oldest
IT Milan
GB Belfast
ZA Cape Town
DE Lingen
ID Bogor
Trading Account Opening
To open a live account with Defcofx, follow these steps:
Click “Start Trading” at the top of any page on the official Defcofx website.
Fill out the registration form. The minimal information is required: first name, last name, email, phone number, and address. Create a user account password.
Log into your account and go to the "Trading Accounts" section.
Click “Open Live Account.” Choose the account type, currency, and leverage settings.
Save or note your account number and password to activate your account on the MT5 platform.
Regulation and safety
Defcofx has a safety score of 1.5/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Negative balance protection
- Not tier-1 regulated
Defcofx Security Factors
| Foundation date | - |
| Negative balance protection | Yes |
| Verification (KYC) | Yes |
Defcofx is Not a Regulated Broker
Commissions and fees
The trading and non-trading commissions of broker Defcofx have been analyzed and rated as Medium with a fees score of 5/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Above-average Forex trading fees
- No ECN/Raw Spread account
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of Defcofx with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, Defcofx’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
Defcofx Standard spreads
| Defcofx | Pepperstone | OANDA | |
| EUR/USD min, pips | 0,5 | 0,5 | 0,1 |
| EUR/USD max, pips | 1,5 | 1,5 | 0,5 |
| GPB/USD min, pips | 0,5 | 0,4 | 0,1 |
| GPB/USD max, pips | 1,8 | 1,4 | 0,5 |
Does Defcofx support RAW/ECN accounts?
As we discovered, Defcofx does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with Defcofx. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
Defcofx Non-Trading Fees
| Defcofx | Pepperstone | OANDA | |
| Deposit fee, % | 0 | 0 | 0 |
| Withdrawal fee, % | 0 | 0 | 0 |
| Withdrawal fee, USD | 0 | 0 | 0-15 |
| Inactivity fee ($, per month) | 0 | 0 | 0 |
Account types
Defcofx offers two live account types suitable for both beginner and experienced traders. Demo accounts and partner accounts are also available.
Account Types:
Deposit and withdrawal
Defcofx received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
Defcofx offers limited payment options and accessibility, which may impact its competitiveness.
- Bitcoin (BTC) accepted
- BTC available as a base account currency
- Low minimum withdrawal requirement
- Minimum deposit below industry average
- No bank wire option
- No bank card option
- Only major base currencies available
What are Defcofx deposit and withdrawal options?
Defcofx offers a limited selection of deposit and withdrawal methods, including BTC, USDT, Ethereum. This limitation may restrict flexibility for users, making Defcofx less competitive for those seeking diverse payment options.
Defcofx Deposit and Withdrawal Methods vs Competitors
| Defcofx | Plus500 | Pepperstone | |
| Bank Wire | No | Yes | Yes |
| Bank card | No | Yes | Yes |
| PayPal | No | Yes | Yes |
| Wise | No | No | No |
| BTC | Yes | No | No |
What are Defcofx base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. Defcofx supports the following base account currencies:
What are Defcofx's minimum deposit and withdrawal amounts?
The minimum deposit on Defcofx is $50, while the minimum withdrawal amount is $1. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Defcofx’s support team.
Markets and tradable assets
Defcofx offers a limited selection of trading assets compared to the market average. The platform supports 100 assets in total, including 61 Forex pairs.
- Indices trading
- 61 supported currency pairs
- Crypto trading
- Bonds not available
- Futures not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by Defcofx with its competitors, making it easier for you to find the perfect fit.
| Defcofx | Plus500 | Pepperstone | |
| Currency pairs | 61 | 60 | 90 |
| Total tradable assets | 100 | 2800 | 1200 |
| Stocks | Yes | Yes | Yes |
| Commodity futures | No | Yes | Yes |
| Crypto | Yes | Yes | Yes |
| Stock indices | Yes | Yes | Yes |
| Options | No | Yes | No |
Investment options
We also explored the trading assets and products Defcofx offers for beginner traders and investors who prefer not to engage in active trading.
| Defcofx | Plus500 | Pepperstone | |
| Bonds | No | No | No |
| ETFs | No | Yes | Yes |
| Copy trading | No | No | Yes |
| PAMM investing | No | No | Yes |
| Managed accounts | No | No | No |
Customer support
Defcofx provides 24/5 online chat support on their website. Other communication channels are available from 07:00 AM to 14:00 (UTC).
Плюсы
- 24/7 chat support access
- Quick responses
Минусы
- Traders cannot get a response on Saturdays and Sundays
- Responses in chat are not always specific and informative
Defcofx can be contacted via:
-
Email.
-
Online chat.
-
Skype.
Contacts
| Registration address | Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia |
|---|---|
| Regulation |
Regulation in Saint Lucia
Licence number: 2024-00205 |
| Official site | https://www.defcofx.com/ |
| Contacts |
Education
Defcofx provides clients the opportunity to practice trading through a demo account on the MT5 trading platform. However, the broker's website currently offers limited resources specifically for novice traders. New clients are encouraged to explore the blog within the Educational Resources section for valuable insights and learning materials.
Comparison of Defcofx with other Brokers
| Defcofx | Eightcap | XM Group | RoboForex | Vantage Markets | LiteFinance | |
| Trading platform |
MetaTrader5 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | MT4, MT5, TradingView, ProTrader, Vantage App | MT4, MT5, MultiTerminal, Sirix Webtrader |
| Min deposit | $50 | $100 | $5 | $10 | $50 | $10 |
| Leverage |
From 1:1 to 1:2000 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
From 1:1 to 1:1000 |
| Trust management | No | No | No | No | No | Yes |
| Accrual of % on the balance | No | No | No | 10.00% | No | 7.00% |
| Spread | From 0.3 points | From 0 points | From 0.8 points | From 0 points | From 0 points | From 0.5 points |
| Level of margin call / stop out |
50% / 20% | 80% / 50% | 100% / 50% | 60% / 40% | 100% / 50% | 50% / 20% |
| Order Execution | Market Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | No | No | Yes | No | Yes |
Detailed Review of Defcofx
Defcofx provides clients with a comfortable environment for online Forex trading, featuring low spreads and no hidden fees. The broker focuses on fast order execution with minimal delays, allowing traders to respond quickly to market changes. Using market execution spreads adjust dynamically to market conditions, offering low-cost trading during moderate volatility. High-security standards are ensured through modern technologies that protect client funds and data. Additionally, Defcofx supports multiple languages and offers easy access to analytics through the user account, making the platform user-friendly and beneficial for both beginner and experienced traders.
Defcofx’s trading platforms:
-
MetaTrader 5. MetaTrader 5 (MT5) is a multifunctional trading platform that supports a wide range of financial instruments. It offers advanced charting and technical analysis tools, a robust ecosystem of automated trading systems (EAs), and the ability to copy trades from successful traders. MT5 empowers traders of all experience levels with flexibility and convenience in their trading endeavors.
Defcofx by the numbers:
-
$0 trading commission and swaps.
-
The minimum deposit is $50
-
There are over 130 available trading instruments.
-
Floating spreads starting from 0.3 pips.
-
Max leverage is 1:2000.
Services offered by Defcofx:
-
CFD trading with leverage, no swaps, and zero lot commissions.
-
Advanced MT5 trading platform with various useful features.
-
Technical analysis and educational content for traders of all levels.
-
Quality support for registered and unregistered clients through online chat and email.
-
Negative balance protection to minimize trading risks.
Promotions and bonuses:
-
A 40% Welcome Bonus is available on deposits of $1,000 or more.
Advantages:
Clients benefit from more cost-effective financial operations due to the absence of deposit/withdrawal fees.
The broker supports micro lot trading along with one-click trading for convenience.
All trading strategies are allowed, including scalping, hedging, and algorithmic trading.
Responsive client support is available 24/5 via online chat.
Quick registration and cryptocurrency deposits make it easy to begin trading.
Copy trading empowers both beginners and those seeking to learn from successful traders by enabling them to easily replicate their trades.
Articles that may help you
Check out our reviews of other companies as well
User Satisfaction i