Company Profile
General Information & Regulation
CodexFX is a Forex and CFD broker registered in the Marshall Islands and is not currently subject to any active regulation.
Market Instruments
CodexFX offers investors a range of CFD products, mainly in commodities, indices, precious metals, and various stocks.
Minimum Deposit
To meet the needs and trading experience of different investors, CodexFX offers four different types of trading accounts, including Mini (minimum deposit of $500), Standard (minimum deposit of $5,000), Gold (minimum deposit of $10,000), and Platinum (minimum deposit of $15,000).
CodexFX Leverage
In terms of trading leverage, the maximum leverage level offered by CodexFX is up to 1:50 for forex instruments. Since leverage can amplify returns as well as losses, inexperienced traders are not advised to use high trading leverage.
Spreads & Commissions
CodexFX doesn't tell any spreads related informations, making its trading fees quite vague.
Trading Platforms Available
CodexFX offers traders the MT4 trading platform, but it is provided by a third-party company that does not have a good reputation.
Deposit and Withdrawal
CodexFX only allows traders to deposit and withdraw funds to their investment accounts via VISA, MasterCard, and Maestro.
Pros & Cons of CodexFX
CodexFX Advantages Include:
1. A range of CFD products
1. Four trading accounts Available
CodexFX Disadvantages Include:
1. Not subject to any regulation
2. MT4 provided by a third-party company
3. A high minimum deposit amount for accounts
4. Non-transparent fees (no information on spreads & commissions)
5. Blacklisted by the Italian financial commission (CONSOB)
6. Limited deposit & withdrawal channels
