ATC Brokers Review
ATC Brokers is a unique online brokerage with a unique vision, providing online forex and CFD trading services to retail and institutional clients. The broker was founded in the United Kingdom (UK) in 2005 but does offer its financial services to investors in other countries.
ATC Brokers affirm that they operate a 100% agency model and never take a position against the trader or manipulate trading activities to its favour. All client orders are forwarded to the liquidity providers (LPs) where they are executed at the best possible spreads with minimal slippage.
ATC Brokers also provide a scalable back office and the MetaTrader Pro platform which adds new features to the traditional MetaTrader platform. The broker also provides an Application Interface (API) which enables clients to connect their strategies directly to the execution venue via FIX API. The modern technology incorporated helps to ensure swift execution speeds, tight spreads as well as catering to multiple trading styles and strategies.
Pros / Cons
- MT Pro plugin for MT4 trading platform
- PAMM accounts are available
- ECN execution model
- Market news updated frequently
- High commission fees
- Minimum trading capital of $2,000 is high when compared to competitors
- Demo account expires after 60 days
- Limited asset classes
- Limited payment options
- High withdrawal fees
ATC Brokers Regulation
ATC Brokers Ltd is authorised and regulated by the Financial Conduct Authority (FCA) in the UK with the license no. FRN 591361.
ATC Brokers Ltd is regulated by the Cayman Islands Monetary Authority (CIMA) with the license number 1448274.
In the USA, ATC Brokers (US) is regulated by the National Futures Association (NFA) as an Introducing Broker (IB).
In compliance to the regulatory stipulations, ATC Brokers keeps retail clients’ deposits in segregated bank accounts. The bank accounts are maintained in ‘Barclays Bank Plc’ which is a top-rated British Bank with over 300 years of experience and operations in 50 countries. ATC Brokers do not use traders’ deposits for its daily operations. The funds are held in such a way that if the broker goes bankrupt, investors’ funds should be returned to them.
ATC Brokers is a member of the Financial Services Compensation Scheme (FSCS). The scheme insures the deposits made by traders into ATC brokers’ trading accounts. If the broker fails, eligible clients can receive compensations for up to £85,000.
Before every account is opened, ATC brokers take time to verify every client using ‘Know Your Customer’ (KYC) procedures. The documents allowed include a ‘photo identity’ and a recent ‘utility bill’.
ATC Brokers Countries
ATC Brokers accept clients from all over the globe, excluding some countries from the OFAC list and in other jurisdictions where there are strict limitations in place.
ATC Brokers Trading Platforms
ATC Brokers provide their clients with the MT4 trading platform. MT4 is one of the most widely used platforms among forex/CFD brokers and traders. It has been around since 2005 and is accepted because of its simple interface, myriad of tools and especially its ability to support custom apps which further increases its capabilities.
Already, there are many indicators, signal services and reporting tools built into MT4. Numerous Expert Advisors (EAs) are available for automated trading on the MT4 platform. This is one of the reasons why the platform remains so popular and is still widely used by millions of investors around the world, even though it has a successor (MT5).
The ATC Brokers MT4 can be downloaded on Windows and MAC operating systems. Here are some of its salient features:
- Intuitive application interface featuring live quotes, order management and analysis tools.
- Access to the MetaTrader market for purchase of EAs, indicators, signals and other enhancement apps.
- Every tradable asset can be displayed on 3 chart styles which are plotted against 9 timeframes ranging from one minute (M1) to one month (MN).
- 30+ technical indicators come with MT4. These include the popular ones like moving average, Bollinger bands, MACD, etc.
- Graphical objects for marking key price levels such as support and resistance.
- It has one-click trading and order placement features including pending orders and risk management tools like stop loss and take profit.
- Alert notifications via the platform, SMS and email.
MT4 Mobile Apps
The MT4 trading platform is mobile friendly as it has mobile apps built for iOS and Android devices. These apps can be downloaded and installed from the respective app stores. The app interface is simple, intuitive, customizable and loaded with most of the features found on the desktop version of MT4. Trading on the go is made easy with the MT4 mobile app. Here are some of the MT4 app features:
- Integrates with the desktop version accounts. A client can place a trade on the computer and monitor or modify it via the app.
- The app shows live quotes of all tradable assets. The quotes can be customized to display only the trader’s favourite assets.
- Live Charts on 9 timeframes from one minute (M1) to one month (MN).
- 30+ inbuilt technical indicators as well analytical tools.
- Complete order features include market execution and 4 pending order types.
- Account balance displays in real time, order history is also available.
- Stop loss and take profits are available for limiting risks.
ATC Brokers Trading Tools
Market news is updated on the website every day. It focuses on economic activities, currency pairs and other assets along with recent price action. This news section is updated frequently; sometimes up to 20 times per day.
This calendar shows the time and dates of upcoming economic events from all over the world. The calendar also shows analysts’ consensus on the event’s likely impact on selected assets. It is compared to the history and a trader can make trading decisions based on the analysis that follows.
PAMM & PAMM Plus (PAMM+) Softwares
These softwares are used by fund managers to trade different investor accounts from one master account. One single order trades all the accounts. Investors have access to the back office where they can access the trading reports. PAMM runs multiple investor accounts that have the same currency while PAMM+ runs accounts created with different base currencies. PAMM+ has greater flexibility than the PAMM management software. Both softwares run on the MT4 or FIX API. The managers receive compensation fees automatically.
ATC Brokers has partnered with “Beeks Financial Cloud” (BFC) to provide clients with Virtual Private Server (VPS) solutions. BFC offers ATC Brokers clients up to 8% discount on any VPS subscription. This amounts to prices starting from £27 per month. BFC is a British low latency VPS provider that serves the financial markets. A VPS is normally demanded by traders who use automated trading systems that require constant and reliable connectivity. A VPS allows you to run your trading platform 24/7 without needing your computer switched on.
This is an MT4 plugin app that adds more reporting functions to the MT4 platform. It adds the following functions:
- Profit and Loss: shows the account balance versus time.
- Winners/Losers: This shows the amount of winning and losing trades over a given time.
- Performance: It shows the percentage of profits and losses.
- Time Analysis: It shows the trade durations and frequency assessment.
ATC Brokers Education
The ‘Learn Centre’ of the website consists of several training materials on forex, CFD and metal trading using the MT4 platform. There is a selection of brief yet clear articles on forex, CFDs, day trading, demo accounts, ECN brokers and trading using the MT4 platform.
ATC Brokers Trading Instruments
On the MT4 platform, ATC brokers offer 38 currency pairs, 9 CFDs and 2 metals for trading. This assets listing is very small compared to other brokers that offer thousands of trading instruments on their platforms.
ATC Brokers Trading Accounts & Fees
Three types of live accounts are available. The retail accounts are not separated into smaller sub units. For all accounts, the minimum opening balance is $2,000 for global clients but for UK and European clients, the minimum is £5,000/$,5000/€5,000. The maximum leverage is 1:200 but for the European clients, it is 1:30 in compliance with ESMA limitations (unless you qualify as a professional trader). Commissions of $6 round turn per lot is charged. The average spread for the EURUSD currency pair is 0.3 pips.
The following account types are available:
- Individual Account
- Joint Account
- Corporate Account
ATC brokers did not give detailed information regarding the trading conditions pertaining to each account type. But, generally, the fees and leverage are similar.
ATC Brokers Customer Service
ATC Brokers have a help centre on the website. This section has FAQs which attempt to answer important questions and give prospective clients an insight into the services available.
A contact form is available for clients who need further assistance. The support team will respond to the request usually by email. The help desk works 24/5 and can also be reached via phone, email and instant web chat.
ATC Brokers Deposit and Withdrawal
- Bank Wire transfers: ATC brokers do not charge a deposit fee for transfers. However, an international withdrawal fee is $40, €30 or £25 is charged depending on the account currency. This fee is high when compared to other brokers.
- Credit/Debit Cards: All major global cards are accepted. This includes Visa card, Mastercard and China UnionPay cards. 2.9% is generally charged as deposit fees while card withdrawals are free of charge.
- Skrill payment: This is an e-wallet payment that can be used to fund or withdraw from ATC brokers trading accounts. The deposit fees charged is 2.9% while a withdrawal fee of 1% is charged on Skrill transactions
ATC Brokers Account Opening
The account opening process takes 1-2 business days for individual accounts but can take 3-5 business days for joint accounts. Click on the ‘Open an Account’ button located on the down right hand of every webpage on the website.
Fill the application form that displays and click on ‘start application’.
The main registration form displays and it lists the 5 steps required to complete the registration. They are personal information, employment information, trading experience, acknowledgements and security declarations. After submission of KYC documents, it takes 1-2 days to receive a response via email. If the application is successful, the ‘welcome email’ gives further directions on how to access the new account.
ATC Brokers Conclusion
ATC Brokers is an online forex and CFD broker that serves clients across the globe. It is a regulated brand that must comply with the directives of the regulatory agencies. The broker offers ECN technology for trading which helps to ensure tight spreads and swift execution speeds.
The MT4 platform is the most popular platform adopted by brokers including ATC brokers. The FIX API solution provided will also be of help to clients that need it, especially programmers, high frequency traders (HFT) and scalpers.
Only around 50 trading instruments are offered which is very small compared to other brokers. The funding options are also limited; no PayPal, Neteller and other popular online payment gateways. A minimum trading capital of $2,000 is much larger compared to other brokers that give access to live trading with only $5 or less. The learning centre is limited with no training videos or comprehensive training package specifically designated for beginners, intermediate and professional level traders.
In summary, ATC Brokers is an established & regulated broker, but this particular brokerage firm could improve its services in order to effectively compete with some of the other top-rated brokers.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.98% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.