ATFX Review 2020
ATFX is a regulated online brokerage offering low spreads on over 100+ trading instruments along with fast execution speeds and very competitive trade commissions. They provide online traders with MT4, tools, educational materials and excellent customer support.
ATFX Review 2020, Pros & Cons
- Strict regulation by CySEC & FCA
- Financial Services Compensation Scheme (FSCS)
- Segregated client funds
- Award winning customer support available in 13 languages
- Analysis from Trading Central
- Daily market news & analysis
- Low spreads
- Good execution speeds
- Competitive commissions
- No proprietary trading platform
- Clients from USA, Korea, Iran and a few other countries are not allowed to register
In this detailed ATFX review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
ATFX is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including ATFX.
ATFX Review: Summary
The ATFX brokerage brand is owned and operated by AT Global Markets (ATGM). The broker offers forex and CFDs for trading online. ATGM was founded in 2017 and it is part of the AT Group. They have offices located in the UK, Cyprus and UAE. The ATFX websites are available in up to 13 languages.
ATFX broker collates its prices from various liquidity providers. This helps to ensure the tightest possible spreads, minimal slippage and a deep liquidity pool. The broker offers over 100+ trading instruments such as forex currency pairs, indices, commodities, stocks and more.
ATFX also partakes in social responsibility by way of sponsorships. The broker is proud to have sponsored events including the ‘Duke of Edinburgh Cup 2019’- UK Qualifying Event.
The brokerage has also won multiple awards for excellent services. Awards that ATFX have won include the ‘Best forex and CFD Broker’ at the UK Forex awards in 2018. It also won the ‘Best non-dealing desk (NDD) forex broker’ which was awarded at the ‘Online Personal Wealth Awards’ in 2018.
ATFX Review: Regulation
ATFX is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom as a forex and CFD broker. The FCA Reference Number is 760555.
ATFX Global Markets (CY) Ltd (‘ATFX’) is authorised and regulated in Cyprus and EU zone by the Cyprus Securities and Exchange Commission (‘CySEC’) under the license no. 285/15. The broker complies with the Markets in Financial Instruments Directive (MiFID) of the European Union.
ATFX keeps clients’ deposits in segregated bank accounts so that they cannot be used for any other purpose and have some protection if ATXFX suddenly becomes insolvent and unable to fulfil their financial obligations.
AT Global Markets (UK) Limited is a member of the Financial Services Compensation Scheme (FSCS). This scheme offer insurance to eligible investor funds and can compensate traders if in future the broker goes bankrupt. An investor is covered for amounts up to £85,000.
ATFX Review: Countries
ATFX accepts clients from most countries although they do not provide services to residents of Canada (Provinces of British Columbia, Quebec, and Saskatchewan), Democratic People’s Republic of Korea (DPRK), Iran and United States of America (USA). Some ATFX broker features and products mentioned within this ATFX review may not be available to traders from specific countries due to legal restrictions.
If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.
ATFX Review: Trading Platforms
Whilst ATFX has no proprietary platforms, they do have the most popular online trading platform, MetaTrader 4 (MT4).
This is the standard platform adopted by most brokers and widely used by forex and CFD traders around the world. Thousands of extension add-ons already exist for the platform; making it suitable for traders of all levels and differing requirements. Thus, the MT4 platform remains the most popular choice of trading platform.
The ATFX MT4 is available as WebTrader which is web based and requires no application downloads or installations. One major advantage of the WebTrader is that it runs on all operating systems and on all devices, directly in most modern web browsers. ATFX also provides the MT4 as downloadable desktop application for Windows and downloadable apps for mobile phones and tablets running on Android/iOS.
ATFX MT4 Features:
- Displays the live quotes in real time via market watch window.
- Real-time charts in 3 styles and 9 different timeframes.
- Comes preloaded with 30 technical indicators and 24 analytical tools.
- Multiple trading order types and risk management tools.
- Incorporates the MetaTrader store where clients can purchase trading tools like robots, indicators, signal services, etc.
- Access to VPS subscription services.
- Allows the automation of trading using Expert Advisors (EAs).
- MQL programming interface for creating custom indicators, scripts and EAs.
The MT4 mobile platform is developed for iOS and android devices. The app interface is user friendly, fast and fully customisable. This platform is beneficial for those who wish to access their online brokerage accounts and trade whilst on the go from anywhere in the world where they have an internet connection. It maintains most of the core functionality as the MT4 desktop platform.
ATFX MT4 App Features:
- Quotes tab displays live ‘buy’ and ‘sell’ prices of all the instruments.
- Live charts of any instrument can be viewed in any of line, bar and candlestick chart styles.
- Charts can be viewed on 9 timeframes from M1 to MN.
- The trade tab displays live account balances and status of all open positions.
- 30 indicators are available grouped as Oscillators, Bill Williams, Volumes and Trend.
- 4 pending order types and market execution orders can be placed, adjusted or closed.
ATFX Review: Trading Tools
Trading Central is a leading financial research provider that provides trading strategies and indepth expert analysis on a wide range of markets. ATFX clients are provided free access to Trading Central’s technical strategies. Up to 10 updates can be received daily.
This calendar shows the time and dates of important events happening around the world. These events are expected to have impacts on the prices of financial assets. These impacts are analyzed by experts, forecasts are made and compared to history. The economic calendar can be customised to fit the trader’s specifications such as events, country and dates.
This is updated several times a day. The news looks at the market prices along with a thorough technical and fundemental analysis of selected instruments. This can be sued to help inspire potential trading opportunities.
ATFX Review: Education
Seminars are scheduled on the ATFX website from time to time. These are held in various towns and give ATFX clients the opportunity to learn and interact with ATFX experts.
There is an article on the website on ‘Basic Knowledge of Forex’. It explains the basic concepts and defines the basic terms used in forex trading and analysis. There are over 10 trading videos for beginners to help them familiarise themselves with some of the online trading basics.
A glossary of trading terminologies and explanations that covers most of the commonly used terms is also available on the ATFX website.
ATFX Review: Trading Instruments
ATFX offers a wide range of 100+ trading instruments for trading on the MT4 platform. The breakdown is as follows:
- 43+ Forex currency pairs including major, minor and exotic crosses.
- 2 Metals (Gold & Silver).
- 2 Oils.
- 15 Indices.
- 50 shares of United States and German stock exchanges.
- Cryptocurrencies and Spread Betting are offered by the UK website.
ATFX Review: Trading Accounts & Fees
The following account types are available to ATFX online traders:
- Standard Account: The spread starts from 1 pip and the minimum opening balance is $500.
- Edge Account: The spread starts from 0.6 pips and the opening balance is $5,000.
- Premium Account: This account features raw spreads from 0.0 pips. The minimum deposit required to open this account is $10,000.
- Professional Account: The minimum capital required is $5,000 and it features spreads from 0.6 pip.
Free virtual private servers (VPS) and Skype sessions with Chief market analyst are enjoyed by all accounts except Standard account. For the European clients, only the Professional account holders are offered a leverage of 1: 400, other accounts get a maximum of 1:30.
To qualify as a professional client requires meeting 2 out of the 3 following guidelines, 1) Have a portfolio of greater than $500k (not including property or cash) 2) Have a verified history of placing significant sized positions (down to broker discretion) 3) Have worked in the capacity of a professional position related to derivatives / speculation / trading. Match any two of these requirements to qualify as a professional client.
It is important to note that negative balance protection, Investor Compensation Fund and recourse to the Financial Ombudsman Service is removed should you qualify for a professional account as you are then classified as professional trader under ESMA regulation.
Demo accounts are available without any limits or restrictions. They come with up to $100,000 in virtual currency.
As broker fees can vary and change, there may be additional fees that are not listed in this ATFX review. It is imperative to ensure that you check and understand all of the latest information on the official ATFX website before opening a brokerage account.
ATFX Review: Customer Service
The ATFX customer support services are available in 13 languages; English, Cantonese, Mandarin, Spanish, Italian, German, Arabic, Vietnamese, Thai, Uyghur, etc. They can be reached on phone via 7 hot lines from these countries. The team can also be reached 24/5 on instant web chat and email. On social media, ATFX is on Facebook, Instagram, Twitter, LinkedIn and YouTube. Support is very prompt and efficient with their responses.
ATFX Review: Deposit & Withdrawal
ATFX does not charge deposit or withdrawal fees except in cases where it incurs a fee while transacting with the client’s payment processor. It does not accept cash payments or payments from third parties. The following payment options are available:
- Debit/Credit Card: Visa and Mastercard are accepted for payments of at least $100. Deposits are processed instantly but withdrawals depend on the banks processing the payment.
- Online payments: The acceptable options are Skrill, Neteller and NgânLurong.vn which is accepted in VND. The transactions are processed instantly and there are no fees. The minimum deposit is $100 for Skrill and Neteller. For NgânLurong.vn, the minimum deposit is VND 2.3 million.
- Local Transfers: Available in THB, VND, MYR and IDR. Local deposits are instant while local withdrawals can take up to 2 days.
- Bank Wire Transfer: This is for international bank transfers between clients’ accounts and ATFX bank accounts. It is available in USD, EUR and GBD. It takes up to 3-7 business days to complete the transfer process. Bank transfer deposits above $1,000 are not charged commissions. Withdrawals are free.
Accounts can be opened in EUR, USD, GBP, VND, THB, MYR. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
ATFX Review: Account Opening
It is easy to open a trading account with ATFX. Click on ‘Open Live Account’ which is located on the topmost part of every webpage on the ATFX website. The form below displays.
Completing the online form requires personal details, financial information, trading knowledge and KYC documents. Upon completion, a ‘Thank you’ message is displayed and the new client is prompted to download the trading platform. If approved, the new account details will be sent through email. The approval process takes approximately one working day.
ATFX Review: Conclusion
ATFX is a regulated broker that really wants its clients to become successful traders. That is why the broker sources multiple liquidity providers and utilises innovative trading technologies to be able to offer some of the best prices and execution speeds.
ATFX is strictly regulated in multiple jurisdictions with client funds secured in premium banks across Europe. Modern security technologies have also been implemented to ensure a safe transaction environment.
The broker offers a vast array of over 100+ tradable assets on the MT4 platform. All trading styles and strategies are allowed, including scalping and hedging. Automated trading via EAs are allowed and can be used to automatically enter trade positions, edit and close trades using preconfigured conditions.
Premium industry leading market analysis from Trading Central is available to traders. The economic calendar and market news are provided to help traders with their trading decisions.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.16% 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.