The positive points that are given to ATFX are centred around three things namely, the fees that bear low costs, the ease account creation, and depositing and withdrawals that are not charged. These factor in into the good image that the firm gets from traders may they be the more novice or tenured among the lot. And of course this is for good reason as the traders are already gambling their money. Not being asked payment for the mere act of withdrawing or depositing is already room to breathe
However, these are just bits compared to what the firm actually offers. Assessing the over-all competency of the brokerage should be done. Such a grueling task may only be done through focus on the three of ATFX’s key offerings: the assets available for trading, the live accounts that the traders are allowed to create, and the trading software provided within each.
These will configure into a recommendation of whether or not traders should enlist with ATFX.
Being Acquainted with ATFX
A brokerage that globally provides CFD and Foreign currencies ATFX’s parent company, the AT Group is split across four functioning companies that undergo sanction of different financial regulators. Among these companies, the trading entity based in the United Kingdom will be focused upon. The FCA regulates this trading entity.
The AT Group saw the light of day in 2014 while ATFX was founded back in 2017.
As of writing the firm operates across four regions. As already mentioned, ATFX is based in the United Kingdom. It also conducts business in Cyprus, St. Vincent and the Grenadines, and Mauritus. Given the other territories, it also takes cues from the CySEC, the FSA of the SVC, and the FSC.
One of the things that have to be noted in looking at the competency of the firm is its penchant of being blamed or failed trading. The trading community is quick to relegate firms into the categories of scam and fraudulent entities when they encounter losses in transactions. But what people must remember is that CFDs are sensitive and risky instruments to trade with.
What ATFX’s Clientele are Offered
As already mentioned, ATFX’s primary assets for trading are Foreign Currency pairs and Contracts for Difference.
The trading charges for these of course vary. While there are no commissions, the Spreads however are definitely higher for the Standard Account.
In a test that the review team had conducted, the CFD charges that had been rendered for the theoretical position of 2,000USD for a week.
The resulting fees are, as the online community contend, low compared to its competitors. These are already integrated into the spreads.
The members of the review team agree that these fees are not only low, but are highly competitive.
Opening an account is one of the things that traders like about ATFX. The process is speedy and intuitive, with all steps done through digital means.
The most basic of accounts which is the Standard Account requires only a 500USD initial deposit. The next accounts require exponentially more. The Edge and Professional accounts need 5,000USD to be opened while the Premium account, 10,000USD.
The spreads for the Edge and the Professional accounts are lower with these starting at 0.6 pips. The Standard Account has higher spreads starting at 1.0 pip while the Premium Account has Raw Spread that start at 0.0 pip. Save for the Premium Account that charges 25USD for 10 lots, all the accounts have no commissions.
Across all accounts, a leverage of 1:30 is pegged, save for Professional Account which has a leverage of 1:400.
The software for trading that ATFX provides is from MetaQuotes’ MetaTrader. The firm, no possessing its developed application chose to enlist the services of MetaTrader 4 which may be accessed through multiple languages, like English, Bulgarian, Japanese, Greek, and Italian, among many others.
The application is an online source. It can be customized, has a two-tiered log-in security measure, and have decent search functions.
While intuitive, the user interface can still be improved so that it would look more modern as opposed to its present aesthetics that looks too vintage.
Apart from these, MT4 is furnished with trading tools like technical indicators, provisions for technical analysis, trading signals, and customizable charts. It works fast and can easily be navigated through.
Why You Should Trade through ATFX
With everything that had been laid out within this review, it is easy to see why signing up for ATFX would be a good idea.
The review team thinks that the only things that can be improved upon are the offerings for Contracts to include the underlying assets and the aesthetic of the web software’s interface.
Everything else considered, ATFX is a good brokerage trade through