Overview of ATFX
ATFX is a global online forex and CFD broker established in 2014, offering a range of trading instruments, including forex, commodities, indices, and shares. The broker also offers several account types, including the Standard Account, Edge Account, and Premium Account, each with different features and benefits to suit different trading needs, with $100 to start. Besides, the broker also offers a demo account for traders to practice and test their strategies. One of the key features of ATFX is its trading platforms. The broker offers the popular MetaTrader 4 (MT4) platform, which is known for its advanced charting tools and user-friendly interface.
ATFX provides its clients with a range of educational resources to help traders improve their trading knowledge and skills. These resources include trading guides, webinars, seminars, and video tutorials. The broker also offers customer support services 24/5 via live chat, phone, and email.
Is ATFX Legit or a scam？
ATFX is a legitimate forex broker that operates under strict regulations. TThis broker is currently regulated by two major financial regulators, the Financial Conduct Authority (FCA) in the United Kingdom and the Cyprus Securities and Exchange Commission (CySEC) in Cyprus. These regulators are known for their strict oversight and regulations in the financial industry, which provides traders with a higher level of security and protection. ATFX's compliance with these regulations demonstrates its commitment to transparency and fairness in its business practices.
Pros & Cons of ATFX
ATFX has a number of advantages and disadvantages that traders should consider before choosing this broker. On the positive side, ATFX is a well-regulated broker that offers a range of trading platforms and tools, including MetaTrader 4, WebTrader, and mobile trading apps. The broker also provides a wide range of trading instruments, including forex, CFDs, and cryptocurrencies, and offers competitive spreads and low trading fees. In addition, ATFX provides its clients with a variety of educational resources to improve their trading skills and knowledge, and customer support services are available 24/5 through live chat, phone, and email.
On the downside, ATFX has limited options for deposit and withdrawal methods, as it only accepts payments via bank transfers and credit/debit cards. Another potential disadvantage is that ATFX does not offer social trading or copy trading features, which may be important to some traders. Finally, ATFX has limited research and analysis tools compared to other brokers, which may be a concern for more advanced traders.
Market Intruments
ATFX provides a wide range of tradable assets to its clients, including forex, metals, oils, indices, cryptocurrencies, and shares. This diverse range of instruments allows traders to diversify their portfolios and take advantage of various market conditions.
Forex-The forex market is the largest financial market in the world, and ATFX provides access to over 100 currency pairs, including major, minor, and exotic pairs.
Precious Metals-The broker also offers trading in precious metals such as gold and silver, which are popular safe-haven assets during times of market volatility.
Indices-Additionally, traders can speculate on the price movements of various indices, including the popular S&P 500 and NASDAQ.
Oils-Oils, such as Brent and Crude Oil, are also available for trading, which are popular among traders due to their high volatility.
Cryptocurrency-ATFX also offers trading in cryptocurrencies such as Bitcoin, Ethereum, and Litecoin, which have gained increasing popularity in recent years.
Shares-Lastly, traders can also invest in shares of some of the world's largest companies such as Apple, Amazon, and Google.
Account Types
ATFX understands that every trader has their own trading style, preferences, and needs, which is why the broker offers a range of account types to choose from. Whether you're a beginner or an experienced trader, there is an account type that is suitable for you.
The Standard Account is a basic account type that is suitable for beginner traders who are just starting in the forex market. It requires a minimum deposit of $100 and offers fixed spreads starting from 1.0 pips. This account type also provides access to the MT4 trading platform and a range of trading instruments, including forex, metals, oils, indices, cryptocurrencies, and shares.
The Edge Account is a more advanced account type that is suitable for traders who have some experience in the forex market. It requires a minimum deposit of $5,000 and offers variable spreads starting from 0.6 pips. This account type also provides access to the MT4 trading platform and a range of trading instruments, including forex, metals, oils, indices, cryptocurrencies, and shares. In addition, the Edge Account offers free VPS hosting, market analysis, and a personal account manager.
The Premium Account is the most advanced account type offered by ATFX, designed for professional traders who require advanced trading features and tools. It requires a minimum deposit of $10,000 and offers variable spreads starting from 0.0 pips. This account type also provides access to the MT4 trading platform and a range of trading instruments, including forex, metals, oils, indices, cryptocurrencies, and shares. The Premium Account offers free VPS hosting, market analysis, a personal account manager, and access to exclusive trading tools, such as Autochartist and Trading Central.
Demo Trading
ATFX offers demo trading accounts to its clients, allowing them to practice and familiarize themselves with the trading platform and strategies before committing real funds. Demo accounts are available for all account types, including Standard, Edge, and Premium accounts. These accounts simulate real market conditions, providing traders with the opportunity to test their trading skills and strategies without any financial risks.
The demo accounts are also an excellent tool for beginners who are new to trading as it enables them to learn the basics of trading without the fear of losing money. The demo accounts offer the same features as live accounts, including access to all trading instruments and educational resources, enabling traders to experience the real trading environment.
ATFX's demo accounts have no time limit, giving traders ample time to perfect their trading strategies and techniques. Moreover, traders can switch between the demo and live accounts anytime they want, enabling them to transition smoothly to live trading when they are ready. The demo accounts offered by ATFX are an excellent resource for traders looking to improve their trading skills and strategies in a risk-free environment.
How to open an account with ATFX？
Fill in your personal information: You will be directed to a page where you will need to provide your personal information, including your full name, date of birth, contact details, and country of residence. You will also need to choose your preferred account type.
Provide your financial information: You will be asked to provide information about your financial status, including your employment status, annual income, and investment experience.
Submit verification documents: To complete the registration process, you will need to submit a copy of your passport or ID card, as well as a proof of address, such as a utility bill or bank statement.
Fund your account: Once your account is verified, you can fund it using one of the available payment methods, such as bank transfer, credit/debit card, or e-wallet.
Start trading: Once your account is funded, you can start trading on the ATFX platform using your preferred trading instruments and strategies.
However, when browsing through the broker's website, an unwelcomed page showed up. A message popped up on the screen informing us that only the big shots - professional clients - were allowed to use the trading platform, while retail clients were left out in the cold.
Here's a table that compares the spreads on EUR/USD, UK100, and Oil offered by ATFX, Avatrade, IC Markets, and FP Markets:
Leverage
ATFX offers varying levels of leverage depending on the type of trading account and financial instrument.
For forex trading, the maximum leverage available for retail clients is typically 30:1 for major currency pairs and 20:1 for minor and exotic currency pairs. Professional clients may have access to higher leverage, up to a maximum of 400:1, depending on their trading experience and other criteria.
For trading other financial instruments such as commodities, indices, and shares, the leverage may vary depending on the asset class and market conditions.
It's important to note that while leverage can amplify potential profits, it also magnifies potential losses, so it's crucial to use leverage responsibly and only trade with funds you can afford to lose. Additionally, different regulations may apply in different regions and countries, which could impact the maximum leverage available to traders.
Spreads & Commissions (Trading Fees)
ATFX offers competitive spreads and commissions on its trading accounts, which vary depending on the type of account and trading instrument.
For forex trading, ATFX offers both fixed and variable spreads, depending on the account type. The spreads for major currency pairs on the standard account start from 1.0 pip, while the spreads on the Edge account start from 0.0 pips but come with a commission of $7 per lot traded.
For other financial instruments such as commodities, indices, and shares, the trading fees may vary depending on the specific asset class and trading platform used.
Non-Trading Fees
Aside from trading fees, ATFX may charge non-trading fees that traders should be aware of, including:
Inactivity Fee: ATFX may charge an inactivity fee of $50 per quarter for accounts that have been inactive for more than 90 days. This fee may be waived for active traders or in certain circumstances.
Conversion Fees: If you deposit or withdraw funds in a currency different from your account's base currency, ATFX may charge a conversion fee to cover the costs of currency conversion.
Overnight Financing Charges: If you hold a position overnight, ATFX may charge or credit you with an overnight financing charge, also known as a swap fee. This fee is based on the interest rate differential between the two currencies being traded and is typically charged at a fixed percentage of the position value.
Withdrawal Fees: While ATFX does not charge any withdrawal fees, third-party payment providers may charge a fee for their services.
Deposit Fees: ATFX does not charge any deposit fees, but third-party payment providers may charge a fee for their services.
Trading Platform
ATFX currently provides the MetaTrader 4 (MT4) platform for its traders, which is a widely used platform among forex traders. It offers advanced charting tools, technical analysis indicators, and automated trading options through Expert Advisors (EAs).
While some traders may prefer other trading platforms, the MT4 platform is a robust and reliable option with a large community of users and third-party developers creating and sharing custom indicators and EAs.
In addition to the MT4 platform, ATFX also offers a range of trading tools and resources, including economic calendars, market analysis, and educational resources such as webinars and tutorials.
Check out this table that compares the trading platforms of ATFX, IC Markets, FP Markets, and Exness:
Deposit & Withdrawal
Minimum Deposit
ATFX's minimum deposit requirement of $100 makes it an accessible option for traders who are just starting out or those who prefer to trade in smaller amounts. The following payment methods are available for deposits:
Credit/Debit Cards: Visa and Mastercard are accepted. The processing time for deposits made via credit/debit cards is instant, and there are no fees charged by ATFX.
Bank Wire Transfer: Deposits can be made via bank wire transfer. The processing time for this method varies, and it may take 2-5 business days to reflect in the trader's account. ATFX does not charge fees for deposits made through bank wire transfer, but traders should check with their bank for any charges that may apply.
Online Payment Methods: ATFX also supports online payment methods such as Skrill, Neteller, and Trustly. Deposits made using these methods are typically processed instantly. ATFX does not charge fees for deposits made through online payment methods, but third-party payment providers may charge a fee for their services.
Withdrawal
How to withdraw money from my trading account？
Log in to the secure Client Portal section of our homepage, then click “Withdrawal”.
This broker will always return funds to the original source they were deposited. For example, if a deposit is made by credit card, funds will be returned to the same credit card. The return can be done through bank transfer, credit/debit card or e-wallet transfers.
If you are withdrawing profit, this broker may ask you for bank account details to send funds directly to your account.
Please note: Your bank account must be fully verified before submitting a withdrawal request.
The time it takes for funds to return to a trader's bank account will depend on the withdrawal method used.
For bank transfers, once the funds have been removed from the trading account, it will take 3-5 business days before they arrive in the trader's bank account. The actual time required for processing may vary, and traders should refer to their bank for more information.
If using an e-wallet, funds will typically be returned to the trader's e-wallet within 2 business days.
For refunds to credit/debit cards, the process typically takes 2-5 business days after the withdrawal has been successfully processed. However, if there are restrictions preventing funds from being returned to the card, ATFX may request a valid bank statement and return the funds to the trader's registered bank account. In such cases, the trader will be contacted by their relationship manager.
All withdrawal requests received before 2 pm (UK time) on a business day will be processed on the same day. Requests received after this time will be processed on the next available business day.
Customer Support
It seems that ATFX understands the importance of providing reliable and efficient customer support to help traders along the way. Whether you're a seasoned professional or just starting out, the brokerage firm offers a range of customer support options to ensure that you have access to the assistance you need, when you need it.
Live Chat: ATFX provides a live chat feature on their website, which allows traders to chat with a customer support representative in real-time. This option is convenient and efficient, as traders can get their questions answered without having to wait for a response via email or phone.
Email: Traders can contact ATFX's customer support team by email. The brokerage firm aims to respond to all queries within 24 hours, making this a good option for non-urgent matters.
Phone: ATFX also provides a phone number for traders to call if they prefer to speak to a customer support representative directly. The phone lines are open from Monday to Friday, during business hours.
FAQ Section: ATFX's website also features a comprehensive FAQ section, which covers a range of topics such as account opening, funding, trading platforms, and more. This section can be a useful resource for traders who prefer to find answers to their questions independently.
Social Media: ATFX has an active presence on social media platforms such as Facebook, Twitter, and LinkedIn. Traders can use these channels to connect with the company and stay up to date with news and updates.
Educational Resources
ATFX offers a wide range of educational resources to help traders improve their skills and knowledge.
One of the primary educational resources available through ATFX is their comprehensive online trading academy. This academy provides traders with a variety of resources, including webinars, videos, articles, and e-books, all designed to help traders learn the fundamentals of trading and improve their strategies. The academy covers a range of topics, from basic concepts such as market analysis and risk management to more advanced topics like trading psychology and algorithmic trading.
In addition to the online trading academy, ATFX also offers a range of educational resources specifically tailored to the needs of different traders. For example, beginners can take advantage of the company's beginner's course, which provides an introduction to the basics of trading, while more experienced traders can benefit from advanced courses covering topics such as technical analysis and trading psychology.
ATFX also provides traders with access to a variety of market analysis tools and resources. These include daily market analysis reports, economic calendars, and real-time news feeds, all of which can help traders stay informed about the latest market trends and make more informed trading decisions.
Conclusion
ATFX is a well-known brokerage firm that offers a variety of trading services and features for traders of all levels. The brokerage's competitive trading conditions, such as low spreads, high leverage, and multiple trading instruments, provide traders with opportunities across various markets.
Additionally, ATFX provides several customer support channels, including live chat, email, and phone, to help traders with their queries and concerns. The brokerage also offers educational resources, such as an online trading academy and tailored courses, to help traders develop their knowledge and skills.
While ATFX has received positive feedback from some traders, as with any brokerage firm, there are also negative reviews and complaints online. However, these reviews should be taken with a grain of salt, and traders are encouraged to conduct their research and make informed decisions before investing their funds with any broker.
FAQs
A: Yes, ATFX is a regulated broker that is authorized and regulated by multiple financial authorities, including the FCA in the UK, the CySEC in Cyprus.
A: The minimum deposit requirement for ATFX is $100.
A: ATFX offers the popular MetaTrader 4 (MT4) trading platform for desktop, web, and mobile devices.
A: ATFX offers competitive trading conditions, including tight spreads and low commissions. The exact trading fees will depend on the account type and trading instrument.
A: ATFX accepts a range of payment methods, including bank wire transfer, credit/debit cards, and e-wallets. The availability of payment methods may vary depending on the trader's location.
A: Yes, ATFX offers a demo account for traders to practice their trading strategies and familiarize themselves with the trading platform before trading with real money.
A: Yes, ATFX provides customer support through multiple channels, including live chat, email, and phone. Traders can also access a comprehensive FAQ section on the ATFX website.
A: Yes, ATFX offers a range of educational resources, including an online trading academy and tailored courses, to help beginner traders develop their knowledge and skills. Additionally, the broker offers a demo account for traders to practice their trading strategies before trading with real money.
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