|Forex, Commodities, Energies, Indices|
An Introduction To ATFX Review
Forex brokers earn trust and reputation in the retail trading market through an active approach that concentrates on the welfare of the traders. No broker can be successful in the market unless they have a fair and transparent Forex brokerage that offers no conflict of interest. ATFX targets the far reaches of the global Forex trading clientele to provide a reliable Forex trading platform and a brokerage that serves the best interests of the trader.
ATFX is very much a regular brokerage that bears a resemblance to some of the most widely established service providers in the market. ATFX adopts a popular business model, whereby the company has installed various services to ensure that it provides a competitive product that is able to stand on its own. Obviously, there are several reliable brokers in the market that can offer a vast variety of choices to the average trader, but there are some inherent characteristics that make one broker more preferred over the other. In our ATFX broker review, you can get all the latest information about the overall trading conditions, bonuses, and the different aspects of maintaining an account with ATFX, which should come in handy at the time of opening an ATFX account.
ATFX Regulation & Details of Company Registration
ATFX has been operating in the financial market since 2014 when it was initially known as Positiva Markets (CY) Ltd. In its earlier guise, ATFX served as a liquidity provider for large institutional traders, providing spot FX for large trade volumes. However, the company started to realise the potential to make a huge profit from the retail trading market, where the frequency of trading is significantly higher than the institutional market, which can cumulatively result in a higher volume than institutional clients. Therefore, the ATFX brand was introduced globally to specifically cater to the vast majority of the retail trading market.
ATFX Global Markets (CY) Ltd. is a European firm that operates its brokerage from Limassol, Cyprus. Therefore, ATFX GM is regulated and licensed by the Cyprus Securities and Exchanges Commission (CySEC), where the regulatory compliance and supervision are not only enforced by the CySEC laws, but also by the European Markets in Financial Instruments Derivatives (MiFID) guidelines. The CySEC license guarantees complete EU access to ATFX, where the European Economic Area (EEA) agreement enables the broker to offer its services to all EU member nations. Some other countries such as Switzerland and the countries of the Middle East also accept CySEC as a recognised authority, which allows ATFX to take advantage through a global presence, without installing satellite offices.
ATFX is also approved by the Financial Conduct Authority (FCA) of the UK, which further solidifies its regulatory strength and legal standing. On the other hand, ATFX offers superior protection against broker insolvency or bankruptcy procedures for EU clients, where every qualified investor is given protection of up to €20,000 under the Investor Compensation Fund (ICF) program. However, the chance for any CySEC or EU regulated company to indulge in any financial irregularities is quite low, as they have to satisfy several operating guidelines such as a having to hold a minimum operating capital, performing routine audits for financial transparency, and moving clients’ funds to segregated accounts for full safety of investment.
Even though ATFX claims to be a global brokerage with an extended presence in all parts of the world, the company does not offer its services to USA, Canada, Iran, Japan, Brazil, Mexico, Turkey, Cuba, DPRK, Sudan, Syria, Bosnia and Herzegovina, Ethiopia, Iraq, Sri Lanka, Trinidad and Tobago, Tunisia, Vanuatu, and Yemen. There may also be some additional countries where trading with ATFX may not be approved, so, it would be useful to contact the broker directly to know if your country is on the approved list.
ATFX Asset Classes & Financial Instruments
If you are a professional trader (or even an advanced beginner) who diversifies his/her investments in different asset classes, ATFX may not offer as varied a range of instruments as the other accomplished companies in the market. ATFX does offer a comprehensive choice of Forex instruments, but when it comes to commodities and indices, the choices are often limited. It is also quite disappointing that the company does not offer stocks or cryptocurrencies, which further compounds the woes for ATFX clients.
Forex: AUDUSD, EURUSD, GBPUSD, NZDUSD, USDCAD, USDCHF, USDJPY, AUDCAD, AUDCHF, AUDJPY, AUDNZD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURNZD, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, NZDCAD, NZDCHF, NZDJPY, EURHUF, EURPLN, USDCNH, USDCZK, USDDKK, USDHKD, USDHUF, USDMXN, USDNOK, USDPLN, USDRUB, USDSEK, USDSGD, USDTRY, USDZAR
Commodities: Gold, Silver, US Oil, UK Oil
Indices: Australian S&P/ASX Index, French CAC 40 Index, German 30 Index (DAX), Japan Nikkei 225 Index, UK FTSE 100 Index, US Wall Street 30 Index (Dow Jones), US NASDAQ 100 Index, US S&P 500 Index, Spanish IBEX 25 Index
With a small choice of instruments, ATFX should consider improving its product portfolio, in order to better suit the requirements of modern traders. Of course, if your only priority is to invest in the Forex market and a few commodities/indices, ATFX does provide a reliable choice. However, we certainly expect ATFX to make a few changes in the near future, which should help in improving the broker’s services and products.
Trading Features – ATFX Accounts, Leverage, Spreads, & Volumes
ATFX uses STP (Straight Through Processing) protocol for order execution, where all orders are sent to the liquidity provider through fast and low-latency servers. An STP broker has a minimal conflict of interest with its clients, as all orders are executed at market conditions. ATFX rarely interferes in the market making process, unless there is an absolute need to maintain the trading volume. ATFX sticks to its No Dealing Desk (NDD) policy, and therefore, the lack of intervention from the broker should guarantee a better trading environment and transparent trading conditions.
ATFX has simplified the process of opening an account by essentially offering only two different account options, the Standard Account and the Edge Account. The ATFX minimum deposit for the Standard Account is a mere $200, for which you get a commission-free trading account with market spreads. The spreads for the Standard account starts from 1.2 pips, which is indeed comparable to the spreads offered by other STP trading accounts in the market. You may be able to get tighter spreads at some brokers, but we feel that ATFX has a competitive spread, aided by its history of acting as a liquidity provider for larger traders.
If you are looking for better ATFX spreads, then the Edge Account promises as low as 0.4 pips on the major currency pairs, but you should pay a commission of $3 per side per lot. The Edge Account is an expensive option, with the minimum investment requirement pegged at $5,000. Although the commission is hugely attractive, we are slightly disappointed that the broker does not offer a zero pip spread guarantee, even though the spreads are competitive. Nevertheless, both accounts allow unrestricted trading, including the ability to scalp, hedge, and use Expert Advisors (EAs) on their accounts.
The trading conditions are more or less the same for the Standard and Edge Accounts, where the minimum transaction volume starts from 0.01 lots. The highest ATFX leverage for both accounts is 1:400, with margin calls and stop outs set at 100% and 50%, respectively. ATFX provides an incredible amount of liquidity during regular market hours, and we did not face any issues with the trading parameters such as requotes or order cancellations/rejections. The benefits of an NDD account are quite apparent in ATFX’s accounts, which are indeed far superior to market maker accounts.
Being a CySEC regulated broker, we can’t expect ATFX to provide a bonus or any kind of similar promotion to its traders. European guidelines have become highly stringent, primarily due to the conflicts of interest associated with a bonus program. The EU authorities have outright banned any bonus offerings, virtually eliminating the need for traders to adhere to the usually austere bonus trading terms and conditions. On the flipside, however, the absence of a bonus program may inhibit beginner traders, who can benefit from the added margin available to trade the markets.
ATFX offers the standard MT4 trading terminal as its primary trading platform, thereby ensuring that all traders get access to the best trading tools that are offered in the market. The MetaTrader4 terminal holds several advantages over its peers, which should certainly give an edge for traders in the market. The ATFX trading platform allows low-latency trading by connecting the MT4 to high-speed servers, which results in fast order execution times and negligible lag. The MT4 also offers a customisable interface that allows the trader to modify the workable space, charts, indicators, and trade directly from the charts.
ATFX also allows the use of EAs, or Expert Advisors, for automated trading strategies. Traders are free to install new EAs, indicators, and make full use of the open source nature of the MT4 by participating in the MQL community. Overall, the MT4 terminal is one of the best in the market and should serve well for all categories of traders and investors.
ATFX Mobile Trading Platform
For mobile users, the MT4 is either available as a web trading platform, or as standalone apps for iOS, Android, and Windows operating systems. The MT4 WebTrader works well with any web browser, both on desktops and mobile devices, which is pretty handy for traders on the move. The ATFX mobile apps are also quite advanced in their own rights, making it one of the best mobile trading platforms in the market for smartphones and tablets. All three versions of the ATFX MT4 apps have a similar trading interface, which is accentuated by excellent charting options, technical indicators, and cutting-edge trading features.
ATFX Deposits & Withdrawals
ATFX only accepts bank wire and credit/debit card payments for now, while the company is slated to accept Neteller and Skrill in the future. All funds are moved to segregated accounts and can be withdrawn without any restrictions. ATFX may impose a 24 hour processing time for withdrawals, due to security purposes, but all deposits are credited instantly. ATFX is one of the safest brokers in the market for financial transactions, as all of the broker’s financial activities are monitored by the CySEC and other relevant EU organisations.
ATFX Customer Service
ATFX has installed a professional customer support channel for addressing clients’ needs, where all EU regulations and guidelines apply to maintaining one of the best customer service experiences in the market. ATFX has individual emails for different support requests, along with hotlines for general customer service and managing trade positions. Based out of a headquarters in Cyprus, ATFX also provides assistance through its 24 hours live chat interface, which is quite proactive and responsive as one would expect. The support team is available all through the trading week, which means that the broker does not offer any support over the weekend. ATFX has certainly hit all the right notes by following a professional approach for its customer interaction.
ATFX Trading Resources
ATFX does not have any extensive trading resources but offers several free tools such as access to TradingCentral, where traders can use expert market analysis derived from automated third-party services. Unlike other brokers, ATFX does not make any trade recommendations or offer a detailed analysis of News and other fundamental factors. The broker also avoids offering any technical analysis of the markets, as the Trading Central does a good job of providing excellent technical analysis and trade recommendations.
- Licensed and regulated by the CySEC.
- Availability of STP account.
- Competitive spreads.
- Low investment barrier with a $200 minimum deposit requirement.
- Availability of MT4 trading platform.
- Transparent and attractive trading conditions.
- Does not provide a bonus.
- A limited number of assets and asset classes.
- Does not accept e-wallets for now.
How Is ATFX Regulated?
ATFX is regulated by the CySEC as per the MiFID guidelines. ATFX has full EEA authorisation to operate in the EU as a Forex broker.
Does ATFX Offer A Demo Account?
Yes, ATFX offers a free demo account.
What Is The Minimum Investment?
ATFX requires a minimum deposit of $200 for the Standard Account and $5000 for the Edge account.
What Are The Spreads?
The spreads are competitive, with the Standard account offering 1.2 pips spreads on the majors and the Edge account offering as low as 0.