“A Forex Broker Worthy of Your Trust” is the main slogan of ATFX, an online Forex and CFD brokerage, which at first glance ticks all the right boxes: it is regulated, it is part of a large and well known group of financial companies, and it uses the MT4 Platform…Let us take a closer look at all that though, and let us also see how its trading conditions shape up!
According to the About Us page of the operator, ATFX was launched back in 2014, by ATFX Global Markets (CY) Ltd., which used to be known as Positiva Markets (CY) Ltd. According to the said page, the decision to launch this retail-oriented trading destination, was made after the company had already achieved success on the institutional level.
ATFXGM.eu is the property of the above mentioned ATFX Global Markets (CY) Ltd. The company is registered in Cyprus, under #HE 340674 and it is based at Silver House, 19 Spyrou Kyprianou Avenue, Ground Floor, 3070 Limassol, Cyprus.
ATFX peddles its services worldwide, with the exception of a handful of countries specified in the footer of the official website. This brief list includes the US, Canada, Japan and Mexico.
Regulated by CySEC, under number 285/15, ATFX is fully MiFID-compliant. It has been authorized to offer financial services in the EEA, by the UK’s FCA (Financial Conduct Authority). The reference number in this regard is 750501.
According to its official website, ATFX is in fact registered and approved in all EEA countries.
Now that we know who and what we’re dealing with, it is time to take a look at:
What exactly does ATFX offer products-wise?
Having proclaimed itself a Forex broker and CFD brokerage, ATFX features a rather standard product selection for this vertical. The official website lists 4 product categories: Forex, precious metals, crude oil and indices.
As far as the Spot Forex offer is concerned, ATFX boasts tight spreads, great order execution, attractive leverage, and a superb client portal for account management – among other things. Some reviewers say their spreads are not exactly tight though. In fact, their spreads seem to be above the average. The allegation however that the site does not offer a choice of trading platforms simply does not hold water.
There are no commissions on Forex. The only fees charged are on the spread, which explains why the spreads are indeed above the average – under such circumstances, they more or less have to be…
There’s flexible long/short trading non-stop, which in Forex terms translates to 24/5. Top-notch execution is assured by STP (Straight Through Processing). The asset-list is host to some 43 currency pairs, among them majors (like the most popular EUR/USD), minors like AUD/CAD, and exotics, such as the EUR/HUF.
The precious metals section includes XAU/USD and XAG/USD. Available 23/5, metals trading offers a maximum leverage of 1:200, deep liquidity and high volatility for those looking to take chances in the hopes of lavish profits. The required starting investment is allegedly low, which means that this product category is accessible to all comers.
The two crude oil instruments are called USOIL and UKOIL. Oil trading – like the trading involving most of the other available assets – is CFD-based, which means that traders never gain actual possession of the traded asset (barrels of oil).
The indices section offers access to a wide range of underlying assets, such as SPX500, US30 and NAS100. The exact trading conditions for every one of the supported indices, metals and currency pairs are made available in great detail in the trading conditions section of the ATFX website.
ATFX Account Types and Trading Conditions
Although some say there’s a lack of account-type variety at ATFX, the brokerage supports 3 accounts: Demo, Standard and Edge. The Demo account is useful for those looking to take a closer peek at the available trading platforms and executing a few risk-free trades. The Demo works with virtual money (USD 100,000), so there’s not much point in going into details on the trading conditions it offers.
Opening a Demo account is relatively fast and straightforward.
The Standard account is the operator’s “Low Market Entry” account. The spreads it features start from 0.5 pips, which is indeed above the average. The minimum required deposit for this account is just $100 though.
Margin Call is set to 100% while the maximum available leverage is 1:400. Hedging and scalping are allowed.
For the Edge account, the minimum required deposit is $5,000. Spreads on this account start from as little as 0.5 pips, which is indeed much more competitive. The margin call and the leverage settings are the same, as are the other perks offered: scalping, hedging, negative balance protection, and EAs.
It has to be noted that traders are required to keep at least $5,000 in their Edge accounts, to maintain their status. ATFX reserves the right to change Edge accounts to Standard in the event this minimum equity is not maintained
ATFX Trading Platforms
ATFX feature two trading platforms: a proprietary web trader and MT4. Of these, the latter is obviously the more attractive: it delivers all the perks and features a professional trader would expect from his/her trading platform. MT4’s charting features are unparalleled. It supports a massive array of time frames, chart types and drawing tools, not to mention the more than 30 preinstalled technical indicators. While MT4 execution is said to be extremely fast, we experienced some rather surprising delays on a few trades that we launched through a Demo account.
MT4 comes in 3 versions, covering Windows, iOS and Android compatibility. All three versions carry all the capabilities of the Windows-based platform. One-click trading, and the history of the trading operations are also included in the package.
The Web Trader is a much simpler platform, which is obviously less powerful than the downloadable MT4 in the way of charting options and trading tools. It too can be used for opening positions though, and its execution is indeed rather impressive.
Market analysis and account management features can also be used through the web interface.
ATFX Funds Protection
As said in the beginning of this ATFX review, the brokerage is fully MiFID-compliant. What this means is that customer capital is held in segregated accounts, with reputable European banking institutions. The capital adequacy requirements set forth by the MiFID framework are more than met by the broker.
As a Cyprus Investment Firm, the operator is a member of the investor compensation fund. The books of the operator are subjected to regular audits by the competent financial authorities and the brokerage observes strict KYC and AML policies.
Everything accounted for, ATFX is a decent trading destination. Its legitimacy cannot be called into question and its regulatory status is more than satisfactory. The trading conditions associated with its Standard account are not really attractive, but one has to bear in mind that trading is commission-free.
The trading platforms offered by ATFX are outstanding and EAs are supported. The leverage levels are reasonable as well.Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.