Torrent EFX

General Information

Torrent EFX is allegedly an online trading company based in the USA that provides its clients with flexible leverage up to 1:5000, low spreads, and a variety of tradable assets with six different account types and a web-based trading platform.

Market Instruments

Torrent EFX advertises that it offers access to a wide range of trading instruments in financial markets, including over 40 currency pairs and CFDs on indices, energy, commodities and precious metals.

Account Types

There are six live trading accounts offered by Torrent EFX, namely Starter, Expert, Silver, Gold, Diamond and Premium. Opening a Starter account requires the minimum initial deposit amount of $1,000, while the other five account types with the much higher minimum initial capital requirements of $3,000+, $5,000+, $10,000+, $25,000+ and $50,000+ respectively. The minimum position is 0.01, 0.01, 0.40, 1.10, 5.0 and 10.0 separately.

Leverage

Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Starter account can experience the leverage of 1:500, while the maximum leverage for the Expert account is 1:1000, for the Silver account is 1:1500, for the Gold account is 1:2000, for the Diamond account is 1:2500 and for the Premium account is as high as 1:5000. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads

According to the information searching on the Internet, the spread for EUR/USD pair was floating around 0.4 pips.

Trading Platform Available

When it comes to trading platforms available,Torrent EFX gives traders a web-based platform, described as much better than the industry-standard MetaTarder4 and MetaTarder5. As most traders know, MT4 and MT5 are known as the most successful, efficient, and competent forex trading software.

Deposit & Withdrawal

Torrent EFX says to accept payments with credit cards like VISA and MasterCard, but we have no way to confirm if these payment options are all available. The minimum deposit requirement is $1000. Also, the broker says that it will charge traders a 10% levy on the amount they want to withdraw. And from the Terms and Conditions of its official site, states that “Withdrawal is processed on the basis of live trading and use of margin in live trading”.

Customer Support

Torrent EFX‘s customer support can be reached through telephone: +442039363472, email: info@torrentfxtrade.com. However, this broker doesn’t disclose other more direct contact information like company address while most brokers offer.