Trusted ATFX Forex Broker Review
Is ATFX a reliable Forex Broker or not? – In the following review, we will prove the online broker ATFX and show you the conditions for traders. Nowadays it is very hard to find a good Forex Broker. ATFX is one of the biggest in the industry. With more than 7 years of experience in online investments we will find out if it is a scam or not. Read the following sections to get accurate information about the company.
What is ATFX? – The FX Broker presented
Owned by AT Global Markets Limited (UK) and part of the AT group, ATFX is a relatively young Forex Broker already establishing a positive reputation on an international level, which is all thanks to the good conditions and competitive conditions they generally offer in terms of their proposed investment services. The existence of this platform alone, coupled with the limited number of assets, may be a threat to other trading platforms.
Still, the features AFTX offers make it an option worth considering for private and even professional traders. ATFX is specialized for forex trading and gives the clients a fast execution through big liquidity providers. The company is based in the United Kingdom and shows us high transparency in their trading offers.
Facts about ATFX:
- The company is based in the United Kingdom
- Specialized for forex trading
- Huge range of variety for currency investments
- Sponsor of different sport teams
- Awarded FX Broker
- No dealing desk broker with big liquidity providers
Regulation of AFTX – Is the broker regulated?
AFTX is regulated and authorized by the FCA (Financial Conduct Authority) and hence has its headquarters situated in the United Kingdom. Their FCA registration number of the company, as well as the company number, is 7605555 and 09827091, respectively. Also, the company is officially known as AT Global Markets (UK) Limited.
For FCA authorizing the company officially means it is approved the company as an FX and CFD broker. This goes further to say that part of FCA’s authorization to the company would imply that ATFX is obliged to follow the agency’s policy to the letter, some of which include fair treatment of clients as well as protection and management of clients’ funds.
Financial Security for traders
The company is fully committed to ensuring that client funds are fully protected anytime, any day. To protect the data of clients, the company employs the latest encryption technology currently available coupled with highly effective protective measures and strict supervision. Knowing this, traders can trust the platform and confirm that the trading environment is truly safe and reliable as it looks.
Moreover, the way ATFX works is by segregating client funds into trust accounts, which are all in the custody of Barclays Bank PLC. This kind of structure creates order in the company as the funds of ATFX are not mixed with those of its clients. Also, it is worthy to note that should in case an issue arises, and the company becomes insolvent, your funds will remain intact. As long as they are segregated, it is impossible to use them to reimburse creditors.
To protect against an unfortunate event of insolvency, ATFX has an FSCS (Financial Services Compensation) coverage. This scheme is only available for clients trading with organizations authorized by FCA. It comes into effect in a special case that the company is unable to satisfy its repayment claims. What happens, in this case, is that the FSCS awards each client a compensation fee of about £85,000 for eligible investments.
That’s not all, ATFX also has its automatic personally-built accounting system whose function is to approve withdrawals only when it has verified that the identity of the client matches the information provided on the client’s account.
Facts of financial security:
- ATFX is using only secure regulated payment methods
- Clients funds are separated from the companies funds
- ATFX does not use clients money to hedge or invest
- ATFX is an FSCS member with protecting your money if the company or a bank will fail
- The funds are managed in the Barclays bank
Review of the conditions and offers
ATFX is a fast-growing Forex Broker with amazing competitive trading and also spread conditions. Of a truth, the number of assets is limited up to 100. This does not displace the fact that the platform is a good one on a general level. You can trade currencies (forex), commodities, cryptocurrencies, indices, and shares by starting with a low amount of money.
As mentioned before the company is specialized for forex trading. More than 40 different pairs are available. This includes majors, minors, and exotic currencies. The execution is very fast and the spreads are low. Because of different account types, traders can gain advantages and pay less trading fees.
The maximum leverage is 1:30 for retail investors. Professional clients can get higher leverage of 1:400. The minimum deposit is 500$ but you can start with a free demo account for testing the platform by yourself. In addition, each trader gets a good service by the support.
For trading, the well-known and popular Software MetaTrader 4 is offered. The platform has gotten a lot of great feedback from traders and investors in the currency market and should be taken into account when selecting an excellent online trading platform.
Facts about the conditions:
- Free demo account for practice
- Different account types
- Minimum deposit 500$
- Spreads starting 0.0 pips
- More than 100 different markets
- Fast execution
- Leverage 1:30 (retail) 1:400 (professional)
- MetaTrader 4 software
(Risk warning: 70.16% of private investor accounts lose when trading CFDs)
Test of the ATFX Trading Platforms
The clients of this online broker have the possibility of accessing the markets through several trading platforms with the following basic characteristics:
- Metatrader 4: It is one of the most complete and popular trading platforms in the Forex market sector and CFDs for retail traders thanks to its multiple trading tools. It is a downloadable application that offers a wide variety of market analysis tools such as advanced graphics with various time frames, updated quotes, dozens of technical indicators, and similar ones. This platform has several types of orders to operate in the market, also offers the user the possibility to create, evaluate, and implement automated trading systems called Expert Advisors based on all types of strategies.
- MT4 Webtrader: It is a web-based online application, which does not require download or installation and can be accessed through the ATFX website from any site with an Internet connection. Among its resources, this platform has functions for managing positions (opening, closing, etc.) and market analysis tools, such as updated news, updated quotes, price charts, and technical indicators. It is compatible with Metatrader.
Analysis and charting of the ATFX markets
ATFX has a complete section dedicated to technical analysis. This comprises market news and analysis of some of the markets known to be very popular, such as oil, indices, cryptocurrencies, and precious metals. These reports are published weekly. This also updates focus on particular products, including predictions, influences, and much more.
For traders to make better decisions, ATFX provides a daily market report so that traders are informed hence preventing them from making costly mistakes that will affect them in the future. These reports include technical and fundamental elements that can influence the price behavior of different markets. The report shows sentiment figures related to small and large market participants. Also, another part this involves is traders’ focal techniques and tactics.
Even if you do not want to use the daily analysis you can join webinars for free or use technical indicators and tools in the trading platform. MetaTrader 4 is very customizable and gives the trader access to a huge range of tools. In addition, you can implement extern indicators or programs.
This is a daily market report can be downloaded from the platform’s site. You will also see the previous markets as well as reports of recent months that have passed. It is a third party that creates these market reports. By the third party, I mean ATFX does not validate either can they ascertain the integrity or accuracy of the reports. Even so, the inclusion of ATFX customer reports is an extremely useful tool. Besides, they save a lot of time in research or complement other trader research strategies.
Asides the daily market reports, ATFX also provides fundamental analysis comments, which is normally recorded by a market analysis research team. This often includes detailed as well as updated information useful to the trader. Moreover, traders become better informed and organized when they find articles that talk about advanced economic indicators, upcoming events, and also fundamental movements within the fundamental market comments. These comments are usually published weekly on the Analysis section of the platform’s site.
Mobile Trading (App) with ATFX
ATFX mobile trading platforms come in versions of MetaTrader 4. So you can download the application that supports either the Android or Apple devices for yourself, allowing you to trade anywhere and anytime.
Some extra features that come with the iPhone MT4 application include EAs and personalized indicators. This also applies to the Android application as all mobile versions have been built to include complete functionality and full performance of the tools of several functions. Some of which are advanced chartings like rapid analysis and customization. There is also flexibility when it comes to making adjustments to your strategy and full support for assets, hence enabling a possibility of diversification.
(70.16% of private investor accounts lose when trading CFDs)
ATFX Demo Account for free
One great way to get started and have a feel of the features the ATFX platform offers has a demo account. This proves to be a very useful tool, especially for enthusiasts and beginners who are either moderately or much new to the platform as it enables them to sharpen their trading skills. Even advanced traders also use this account to test-run new strategies that may be risky if using their main accounts.
How to open your free account
As for the opening of a trading account with the ATFX broker, it is an effortless and fast procedure in which customers only have to complete a simple form on the company’s website. In this form, relevant trader information is requested that includes the following:
- Personal data (full name, sex, email, telephone number, country of residence, type of account of your interest, etc.).
- Financial information.
- Knowledge and experience in the markets.
Once the client completes the form, the broker activates the account immediately. However, he must also send the necessary documents that prove his identity and his address so that the account is verified and so he can access all the services. This is because ATFX is a regulated broker, and to avoid money laundering and other similar practices, the person must prove that he is who he says he is.
In this case, the trader can start operating in the market once he deposits the necessary funds. The minimum deposit to operate with this broker is $500. The methods accepted by this broker to deposit and withdraw funds from their trading accounts are the following: credit card (the most important ones such as VISA and Mastercard), bank transfer, Skrill and Neteller.
Different Account Types are available
For traders who want to start with ATFX, there are different account types available. This is a good option to get tighter spreads or different leverages. Overall, there are 4 different account types which we will show you in the next table. If you make a bigger deposit you will trade with better trading conditions.
|Standard Account:||Edge Account:||Premium Account:||Professional Account:|
|Minimum deposit:||$,€,£ 500||$,€,£ 5,000||$,€,£ 10,000||$.€.£ 5,000|
|Spreads:||Starting 1.0 pip||Starting 0.6 pip||Starting 0.0 pip||Starting 0.6 pip|
|Lot size:||From 0.01||From 0.01||From 0.01||From 0.01|
|Quarterly Catch up:||No||No||Yes||Yes|
(70.16% of private investor accounts lose when trading CFDs)
How to deposit
When making deposits, there are three options available on ATFX, and these are debit and credit cards, bank transfers, and e-wallets.
ATFX comes with no fees for any deposits, and all methods support deposits in USD (US dollars), EUR (Euros), and GPB (Pounds Sterling). You may be charged with a small processing fee by your provider if it so happens that you’re using debit or credit cards outside the UK. However, if you can account for the charges by providing a receipt, the company will reimburse you. Deposits made with either debit cards, credit cards or e-wallets reflect within 30 minutes after the deposit has been made while bank transfers appear in your trading account a working day after ATFX has received the funds.
How to withdraw
Just like the same features, ATFX offers when making deposits, the same applies to withdrawals. You can withdraw in those three currencies on all three methods, and no, the company charges you no fees whatsoever.
If you want to deposit funds into your account on the platform, log into your account. Visit the site where you have CLIENT PORTAL, and you will see DEPOSIT, select it. Bear in mind ATFX does not accept third-party payments, which could mean that your deposits must and must only come from your accounts.
If you’re going to withdraw, go to the same place you went earlier, which Is the CLIENT PORTAL. Select Withdrawal. Do take note that you are only able to make a request for withdrawal per day.
Summary of the payment transactions:
- Credit cards, bank transfer, e-wallets payment methods
- Instant deposits are possible
- Withdrawals are done in 1 – 3 working days
- Your account has to be fully verified
- No fees for deposits and withdrawals
ATFX fees: How much does it cost to trade?
It is a huge advantage that there are only trading fees for the clients. ATFX does not charge any fees for the account opening, inactivity, or services like deposit and withdrawal. The Forex Broker only earns money through spreads and commission. The more you trade the broker can give you better spreads.
Generally, the spreads are variable but very tight. So the trading fees can be depending on your asset to trade. You can choose between the spread account or commission account. Overall, ATFX is cheaper than the most Forex Brokers.
Professional education resources for the trader
ATFX includes daily and weekly tutorials and analysis of the main financial markets. These resources are free and are detailed below:
- Access to technical analysis tools of Trading Central, a leading provider of market analysis studies with reports, strategies, and professional studies for a large number of markets, including Forex, commodities, precious metals, and indices. It provides investment studies of multiple investment banks, managers, professional brokers, and others.
- Daily analysis of the markets carried out by experts.
- Free webinars and 1 to 1 coaching
- News and most relevant economic events in the market.
- Free education tools for their clients, both for beginner traders and experienced traders, who offer training on various topics, such as Forex and other markets, trading strategies, trader psychology, behavior and price structure, market analysis methods, and others. Among the educational resources for ATFX clients, we have webinars that take place every week and face-to-face seminars that take place in different countries.
Customer support review
The website of ATFX is translated into several languages, including English and Spanish. It offers a quite complete information about the company and its services, such as the investment instruments it offers, the trading conditions, the types of accounts, the trading platforms, and additional services, among other related aspects. The visitor can also find information about the company itself and the means of contact it offers both to customers and visitors.
Precisely in terms of the means of contact offered by ATFX for both its customers and visitors to its website and traders interested in its services, the main ones are the following: phone call, email, and live chat on the website on which operates 24 hours. The support team is operating from London and the team is well trained for the financial markets.
In addition, the broker organizes events and sponsorships with global charity actions. In the future, there are more offline events planned. So clients can get access to them an meet the support and management team.
Facts about the support:
- International support in different languages
- Multilanguage website
- Professional educated support team
- Phone, email, and chat support
+44 203 957 7777
1st Floor, 32 Cornhill, London EC3V 3SG. United Kingdom
Monday to Friday UK 9:00 a.m-5:00 p.m.
Conclusion of the review: ATFX is a leading Forex broker
ATFX is a regulated Forex Broker based in the United Kingdom, specifically in London. This broker allows trading with a wide variety of markets, including Forex, CFD, and raw materials. There are various types of accounts available for all sorts of clients, even for professionals.
ATFX provides competitive spreads and with no commissions, except for Edge accounts. All its functions are performed through MetaTrader 4, which supports all devices, both mobile and desktop. The multiple ranges of deposit and withdrawal options allow this particular broker to be used by a variety of clients, and you can always be certain of 24/5 customer service.
As for educational tools, the ATFX broker does not offer the most excellent variety of resources of this type compared to other brokers but regularly provides free webinars to all its clients. From our experience, the test results and conditions for traders are speaking for themselves. With ATFX you get clearly a good partner on your side.
Advantages of ATFX:
- Regulated by the famous FCA (UK)
- Specialized for FX trading
- Free demo account
- Low spreads
- Fast execution
- High liquidity
- Professional service
- MetaTrader 4 platform
- No hidden fees
- 4 account types
ATFX is specialized for forex trading. You will experience fast execution and high liquidity (no slippage) for trading small and big positions. (5 / 5)
(70.16% of private investor accounts lose when trading CFDs)