Today, we’ll be taking an in-depth look at EagleFX, a Dominica-domiciled offshore Forex broker that has carved a niche for itself since its establishment in 2019. Offering an impressive array of trading assets across diverse markets, EagleFX is increasingly becoming the go-to choice for traders worldwide. Here, we dissect the reasons behind its success.
Secure and Transparent Operations
Despite being unregulated due to its offshore domicile, EagleFX operates with a level of transparency and security that rivals many regulated brokers. A primary highlight is the segregation of client funds, a mechanism not often found in unregulated entities. This means your funds are stored separately from the company’s operational assets, which adds a layer of protection against company insolvency.
The cherry on top? EagleFX offers free paper trading accounts. Now, you can test the waters, practice strategies, and familiarize yourself with the trading environment before diving into live trading. What’s even better is the low entry barrier: you can get started with as little as $50!
Moreover, client funds are stored using an innovative cryptocurrency cold storage method that ensures additional security against potential threats. This is coupled with a 100% hedging strategy that further safeguards clients’ capital. They also offer an unlimited lifetime affiliate program*
Accessible and Inclusive Account Setup
EagleFX keeps it simple by offering a single account type, eliminating confusion around different tiers or conditions. The broker supports various base currencies, including USD, GBP, EUR, and BIT, allowing flexibility and convenience. For those of a Muslim faith, there’s an option for an Islamic account that complies with Sharia law by not charging or accruing interest.
Corporations looking to delve into the Forex market will be pleased to know that EagleFX offers corporate accounts. Additionally, traders can test the waters using the free demo account, which expires after two weeks of non-use.
Comprehensive and User-Friendly Trading Platforms
EagleFX offers a robust trading environment using MetaTrader 4, a globally acclaimed platform known for its reliability, advanced charting capabilities, and automated trading features. Mobile trading is also supported via an Android app, and for those who prefer browser-based trading, the WebTrader option is available.
The MetaTrader 4 platform at EagleFX has nine charting time periods, 23 analytical objects, and 30 technical indicators, catering to novice and experienced traders. You can execute trades directly from the charts and utilize additional features like pending orders, trailing stops, one-click execution, and more. The maximum leverage is a staggering 1:500, and trading hours are a trader’s dream, with 24/7 cryptocurrency trading and actual market hours for all other assets.
Wide Array of Tradable Assets
When it comes to tradable assets, EagleFX truly shines. The broker offers a diverse portfolio of 209 assets, including 53 currency pairs and 31 cryptocurrencies. Although it doesn’t offer stock trading, it compensates by providing a range of commodities, indices, futures, and energies. Traders can choose their positions from micro-lots (0.01) to as large as 1,000 lots, giving flexibility in trade size.
Competitive Spreads and Commission Structure
EagleFX operates on a straight-through-processing (STP) model, ensuring rapid, seamless trade execution without a dealing desk. With over five liquidity providers, the broker can offer variable spreads as low as 0.1 pips on EUR/USD, with an average of 0.3 pips across all pairs. The round turn commission is $6 ($3 in/$ three out), and the commission rate is $4 per lot.
Flexible Deposits and Withdrawals
EagleFX supports various deposit methods, including credit/debit cards, Bitcoin, and bank wire transfers. The minimum deposit is a mere $10 or it’s BIT equivalent, making it accessible to all. The broker particularly shines in its withdrawal process, with an average processing time between 12 to 48 hours, significantly faster than the industry average. Plus, the minimum withdrawal amount is $0 for Bitcoin and credit/debit, making it extremely trader-friendly.
Stellar Customer Support
EagleFX provides round-the-clock customer service, ensuring assistance is a click or a call away. The broker offers telephone, live chat, and email support in English. While dedicated account managers aren’t available, EagleFX makes up for it by offering daily activity report emails informing traders about their account activities.
In conclusion, EagleFX is a testament that being unregulated doesn’t equate to being untrustworthy or insecure. Its secure trading environment, user-friendly platform, diverse asset offerings, competitive pricing structure, and top-notch customer service make it a reliable and attractive choice for traders worldwide. Whether you’re new to the trading scene or a seasoned veteran, EagleFX offers a compelling package that’s hard to ignore.