EnclaveFX Review: Scam Or Safe | Key Findings For 2023


Enclave FX is a CFD trading services provider that offers online trading solutions to clients worldwide. The company was established in 2018 and is based in London, UK. 

The brokerage has a global network of offices in Europe, Africa, the Middle East, and Asia. Its parent company – EnclaveFX Ltd, is registered in the UK under registration no. 13596354

Enclave FX offers over 100 financial instruments to trade, including forex, CFDs, cryptocurrencies, and metals. The minimum deposit required to open a Micro Account is only $10 & its Copy trading feature makes it worthy for beginner traders. 

For in-depth information regarding the brokerage’s services, products, legitimacy & fees, it is worth reading this detailed EnclaveFX review 2023 till the end. 

Is EnclaveFX Scam?

EnclaveFX can be considered a scam broker due to its unregulated status. Despite being registered in the UK, the broker lacks regulatory oversight from any international or local regulatory. 

However, the platform claims to be a member of the Forex Market Authority with license number 1622312. But it still does fall short in terms of stringent regulations. 

So, considering the overall scam report from EnclaveFX Review, we conclude it is a high-risk broker. The lack of oversight can be a concern for investors, as there is no external body to ensure that the broker is acting responsibly and ethically. 

EnclaveFX Trading Instruments 

The EnclaveFX’s product offering is limited to just CFD on Forex, Metals, Indices & Crypto, with no place for Commodities & Stock trading. 

However, it is a common practice by many unregulated brokers like EnclaveFX as they have more freedom in terms of their product offering, but this comes at the cost of reduced protection for investors. 

Furthermore, these brokers may not have access to the same liquidity pools and trading networks as regulated brokers. This can result in inferior trading conditions, such as lower product offerings, wider spreads and lower execution speeds, which can impact trading outcomes.

Here’s a list of available financial instruments & assets classes on EnclaveFX:

  • CFDs On Indices – AUS200*, CHNIND, US30, & EU50

EnclaveFX Fees, Commission& Spreads

The broker work on a hybrid fee model, which consists of both Spread & Commission charges. However, the commission is limited to just ECN and ECN Pro accounts. 

At the same time, the spreads are variable, with rates that start at 0.0 pips. These spreads vary throughout the day and are affected by various factors such as market volatility, supply and demand, trading session, and liquidity.

The spreads for each account type are as follows:

  • Micro account: 2.2 pips
  • Standard account: 1.8 pips
  • Silver account: 1.5 pips
  • Gold account: 1.2 pips
  • Platinum account: 1.0 pips
  • Diamond account: 0.7 pips
  • ECN account: 0.0 pips
  • ECN Pro account: 0.0 pips

The ECN and ECN Pro accounts offer the tightest spreads of 0.0 pips, with commission charges of $10 and $7, respectively, per traded lot. It is worth noting that Enclave FX does not charge any swap fees for its trading accounts. 

Maximum Leverage

EnclaveFX offers a maximum leverage of 1:500, which is quite high compared to other forex brokers in the industry. However, it is important to note that high leverage levels involve a higher risk of loss, and as a result, many regulatory authorities have set restrictions on the maximum leverage that brokers can offer.

For example, in the UK, EU, and Australia, the maximum leverage that brokers can offer is limited to 1:30 or 1:50 for forex trading, depending on the currency pair being traded.

Despite the restrictions, some unregulated & offshore forex brokers still offer high leverage ratios to their clients that directly expose them to a higher risk of losing money. 

Trading Platforms Offered By EnclaveFX

EnclaveFX offers traders access to the most sophisticated trading platform – MetaTrader 5 (MT5). The platform is widely used by traders worldwide due to its advanced charting features, customizable interface, and automated trading capabilities.

MT5’s trading tools include more than 80 built-in technical indicators, multiple timeframes, and an extensive range of charting tools. The platform’s user-friendly interface makes it easy for traders to analyze market data, manage orders, and execute trades with precision.

In addition to the desktop version of the MT5 platform, EnclaveFX also provides a mobile app for both iOS and Android devices. This allows traders to access their trading accounts and execute trades while on the go.

While MT5 is a highly regarded trading platform, it is important to note that EnclaveFX has raised concerns about its trustworthiness. 

Pros & Cons

Pros Cons
Offers a range of account types to choose from Concerns have been raised about its trustworthiness
Access to the popular MetaTrader 5 platform Not regulated by any reputable financial authority
Competitive spreads on some account types
No commissions charged on most account types
Free swap fees on all account types

Account Types Offered By Enclave FX

The broker provides traders with a range of eight account types to choose from, each designed to suit different trading needs and experience levels. 

Here is a breakdown of each account type, including the minimum deposit required, the starting spreads, commissions, leverage, and execution type:

Micro Account

  • Minimum Deposit: $10
  • Spreads From 2.2 Pips
  • Zero Commissions
  • Leverage Up to 1:500
  • Swap Free
  • Market Execution
  • Regular/Islamic Account

Standard Account

  • Minimum Deposit: $500
  • Spreads From 1.8 Pips
  • Zero Commissions
  • Leverage Up to 1:500
  • Swap Free
  • Market Execution
  • Regular/Islamic Account

Silver Account

  • Minimum Deposit: $1,000
  • Spreads From 1.5 Pips
  • Zero Commissions
  • Leverage Up to 1:500
  • Swap Free
  • Market Execution
  • Regular/Islamic Account

Gold Account

  • Minimum Deposit: $1,500
  • Spreads From 1.2 Pips
  • Zero Commissions
  • Leverage Up to 1:500
  • Swap Free
  • Market Execution
  • Regular/Islamic Account

Platinum Account

  • Minimum Deposit: $2,500
  • Spreads From 1.0 Pips
  • Zero Commissions
  • Leverage Up to 1:500
  • Swap Free
  • Market Execution
  • Regular/Islamic Account

Diamond Account

  • Minimum Deposit: $5,000
  • Spreads From 0.7 Pips
  • Zero Commissions
  • Leverage Up to 1:500
  • Swap Free
  • Market Execution
  • Regular/Islamic Account

ECN Account

  • Minimum Deposit: $2,500
  • Spreads From 0 Pips
  • $10 Commission
  • Leverage Up to 1:500
  • Swap Free
  • Market Execution
  • Regular/Islamic Account

ECN Pro Account

  • Minimum Deposit: $5,000
  • Spreads From 0 Pips
  • $7 Commissions
  • Leverage Up to 1:500
  • Swap Free
  • Market Execution
  • Regular/Islamic Account

It’s worth noting that all account types offer swap-free options for those who follow Sharia law. Also, while the ECN and ECN Pro accounts come with commission charges, the other account types don’t charge any commission for trade execution. 

At the same time, there is a free EnclaveFX demo account available that allows traders to place risk-free trades with virtual funds. 

How To Open An Account On EnclaveFx?

Here’s a step-by-step guide on how to sign up for an Enclave FX account:

Step 1: Go to the Enclave FX website

Navigate to the Enclave FX website by entering the URL in your web browser.

Step 2: Click “Register Now”

Click the “Register Now” button located in the top right-hand corner of the homepage.

Step 3: Fill out the registration form

Enter your personal information, including your full name, email address, phone number, country of residence, and preferred leverage. You will also need to create a password and choose your account type.

Step 4: Verify your account

To verify your account, you will need to upload a copy of your ID, such as your passport or driver’s license. You may also need to submit proof of address, such as a utility bill.

Step 5: Fund your account

Once your account is verified, you can fund it by selecting your preferred payment method and transferring funds.

Step 6: Start trading

Once your account is funded, you can start trading by downloading the MetaTrader 5 platform and logging in with your Enclave FX account details.

Deposit & Withdrawal Conditions

Enclave FX only accepts deposits and withdrawals in Bitcoin, which could be a limitation for some traders who prefer other payment methods. 

Additionally, the minimum deposit and withdrawal amount is $50, despite the website advertising a minimum deposit of $10. 

The execution time for withdrawals and deposits is usually 1-3 hours, which is relatively fast compared to other brokers. 

However, traders should also note that there may be additional processing times depending on the blockchain network traffic. It’s essential to be aware of these conditions before opening an account with Enclave FX.

How To Deposit Funds Into EnclaveFX?

To deposit funds into an EnclaveFX account, follow these simple steps:

Step 1 – Log in to your Account by entering your login details and password.

Step 2 – Navigate to the Deposit Page and click on the ‘Deposit’ button on the dashboard of your account. You will be redirected to the deposit page.

Step 3 – Select Bitcoin deposit. 

Step 4 – Input the amount you want to deposit into your account. Make sure to input the correct amount as Bitcoin transactions cannot be reversed.

Step 5 – Submit the request to initiate the transfer. You will receive a Bitcoin wallet address to transfer the funds.

How To Withdraw Money From EnclaveFX?

To withdraw funds from an EnclaveFX account, follow these steps:

Step 1 – Log in to your EnclaveFX account by entering your login details and password.

Step 2 – Navigate to the Withdrawal Page and click on the ‘Withdraw’ button on the dashboard of your account. You will be redirected to the withdrawal page.

Step 3 – Input the amount you want to withdraw from your account. Make sure to input the correct amount as Bitcoin transactions cannot be reversed.

Step 4 – Submit the request to initiate the transfer. The platform will process the withdrawal request within 1-3 hours.

EnclaveFX Copy Trading Feature

The broker offers a unique Copy Trading feature that allows traders to copy the trades of professional traders. This feature is open to all account types and traders have the option to copy the trades of multiple traders simultaneously. 

To get started with Copy Trading, traders need to select a trader whose trades they want to copy. Traders can access the list of available traders on the EnclaveFX website or the MetaTrader5 platform. 

Each trader has a detailed profile that includes trading history, performance statistics, and other relevant information.

Once traders have identified the trader they want to copy, they can configure the settings for their copy trading account. They can choose the amount of capital they wish to allocate to each trader, set the maximum number of open trades, specify stop loss and take profit levels for each trade.

The Copy Trading feature is fully automated, allowing trades to execute automatically on the trader’s account without any manual intervention. 

Traders can monitor their copy trading account in real-time and make adjustments to their settings as necessary. This feature provides traders with an opportunity to learn from experienced traders and improve their trading skills.

Educational & Research Amenities 

The educational and research tools section of the broker impresses a wide majority of traders. The platform offers a comprehensive forex education section that includes articles, videos, and webinars on various aspects of trading, including risk management, technical analysis, and trading psychology.

Traders can also access a range of research tools, including an economic calendar, forex market hours, and heatmap analysis. The economic calendar provides information on upcoming economic events and their potential impact on the market, while the Forex market hours tool helps traders plan their trading activities based on the opening and closing times of different markets.

The heatmap analysis tool provides a graphical representation of the market, showing the relative strength of different currencies and the trends in different currency pairs. This can help traders identify trading opportunities and make informed decisions about their trades.

EnclaveFX also offers a range of calculators to help traders manage their trades and calculate their potential profits or losses. The calculators include a margin calculator, pip calculator, and position size calculator.

Customer Support At EnclaveFX

EnclaveFX offers customer support via several channels, including phone, email, and live chat. Traders can contact the broker’s support team 24/5 with any questions or concerns. 

Additionally, the website and the mobile app have a comprehensive FAQ section, which covers a wide range of topics and can help traders find answers to their questions quickly and easily.

However, it’s worth noting that some traders have reported slow response times and unhelpful customer support from the team. As with any broker, it’s important to do your own research and read reviews from other traders before deciding whether to open an account with them.


Overall, EnclaveFX provides traders with access to advanced trading tools, including a copy trading feature, and a range of educational and research resources to help traders improve their trading skills. 

However, the broker has some limitations, such as the fact that it only offers deposits and withdrawals in Bitcoin and has a minimum deposit and withdrawal amount of $50, which is higher than advertised on the website. 

In conclusion, the broker may not be the best fit for traders looking for a reliable trading partner & more flexibility in the product range, and deposit & withdrawal options.

Instead, if these aspects are your top considerations, you can move to a more reliable and flexible brokerage, such as Equiity


Is EnclaveFX Free?

To access the live trading features, users need to deposit a minimum amount of money in their trading account. The platform does not charge any fees for opening or maintaining an account, but it may charge commissions on trades or spreads on certain currency pairs.

How To Trade On Enclave FX?

To trade on EnclaveFX, users need to create an account, deposit funds, select a trading platform, and start trading. The platform offers a variety of trading tools, including charts, technical analysis indicators, and risk management features. Traders can also use the platform’s copy trading feature to copy the trades of other successful traders.

Where To Download EnclaveFX App?

The broker offers mobile apps for Android and iOS devices, which can be downloaded from the Google Play Store and Apple App Store, respectively. The desktop version of the trading platform can be accessed through the EnclaveFX website.

Why Is EnclaveFX Login Fails Many Times?

There could be various reasons why EnclaveFX login fails, including incorrect login credentials, technical issues with the platform, or account verification problems. If users are experiencing login issues, they should contact EnclaveFX customer support for assistance.

Does EnclaveFx Copy Trading Feature Actually Work?

EnclaveFX copy trading feature allows users to automatically copy the trades of successful traders on the platform. The feature can be useful for novice traders or traders who want to diversify their portfolios. 

However, as with any trading strategy, there is no guarantee of profits, and users should carefully evaluate the performance of the traders they choose to copy.