EAGLEFX BROKER REVIEW 2020

EagleFX is one of the youngest forex brokers in the industry. It was founded in 2018 and has quickly become one of the best trading platforms.

EagleFX offers a variety of assets that allow traders with different interests. EagleFX also offers easy sign-up and use, among other benefits for traders with different needs.

Broker EagleFX General Overview

Regulation and security

Regulation and security are among the most important considerations before you join a trading platform. Since there are no significant rules at EagleFX, it is a gamble for most traders. However, the broker strives to provide excellent protection.

It uses advanced cold storage for cryptocurrencies away from computer hard drives.

The storage is safe from hacker attacks and other internet vulnerabilities. He also sets up a separate bank account where client funds are kept separate from company funds. This keeps clients free from any losses or liabilities of the broker.

Spreads and Fees

As one of the newest brokers, the website needs to offer competitive spreads to increase the chances of success. It sets spreads for all CFD and FX assets based on volatility and market liquidity. The advanced pricing system he offers depends on market trends.

The broker charges a commission of $6 for each trade, which seems high compared to other brokers, but it is worth it. It invests in an affiliate programme where it pays affiliates up to $4 per trade.

In general, using the platform is quite affordable. There are no deposit or withdrawal fees. There are also no other hidden costs like inactivity fees.

The broker only charges swap fees for open overnight trading. The fees depend on the assets.

What are the account types of EagleFX?

Unlike most forex brokers, there are no multi-tiered accounts or account levels at EagleFX. There is a single main account for all traders. Only an Islamic account is an option available under Shariah laws.

The platform also offers a corporate account, provided there is proof of ownership of a business. These accounts come with higher deposit and trading limits.

Deposits and withdrawals

EagleFX has some of the most interesting deposit and withdrawal methods. There is a minimum deposit of $10.

The low limits for first deposits make it ideal for beginners.

The broker supports several deposit methods such as bitcoin, credit and bank transfer. However, there is also a maximum monthly deposit that depends on the payment method. No deposit fees are charged.

EagleFX has equally reliable withdrawal methods. Bitcoin, prepaid MasterCard and PayPal are supported. Again, there are no withdrawal fees. However, there is a $10 withdrawal limit via Bitcoin and no upper limit.

Withdrawals at EagleFX are a very special experience. Unlike other brokers where funds can take up to 7 days to process, withdrawals here are processed the same day.

What are the trading platforms of EagleFX? 

Trading at EagleFX is a breeze as the broker supports the popular MetaTrader 4 platform. The platform supports several built-in tools and third-party tools. It also supports browser access without the need to download the software.

The platform has a Quick Trading feature that allows you to place your orders quickly and easily. It also has a Tick Chart feature for accurate data analysis and other useful tools. The platform is also secure as it supports digital signatures and encrypted data protection.

EagleFX is also available as a free mobile app for Android and iOS operating systems. Mobile trading via the app offers a similar experience to desktop trading.

It has several technical indicators and analysis objects. You can also access the objects and indicators in both portrait and landscape mode.

Anyone can also access the platform easily and quickly at any time in the WebTrader.

Market and Trading assets

EagleFX offers a wide range of products for the ultimate trading experience. Among the options, you can choose from is forex trading. There are several currency pairs with competitive spreads. The range of forex includes exotic, minor and major pairs.

The broker has a list of over 25 crypto coins. It also offers popular tradable commodities such as copper, platinum, US and UK oil and natural gas.

Finally, the broker offers various stock indices of some of the most reliable stocks like Apple Inc, Amazon.com, Boeing Co, Allianz AG, Chevron, Ford Motor Company and many more.

EagleFX Customer Support

EagleFX has one of the most reliable customer services in the industry. There is a detailed page FAQ with information on all common trader concerns. If you need more information, you can contact the dedicated customer service team.

Unlike most brokers that are only open on certain days, EagleFX offers 24/7 support. It has a live chat, which is the fastest communication channel due to its real-time and instant feedback. If you do not prefer the chat, you can also send an email, which has an average response time of 15 minutes.

Brokers also offer traders the option to request a callback. They usually call back within 4 hours. These deadlines and provisions are exceptional compared to other platforms.

Educational material you can find in EagleFX

EagleFX does not go out of its way when it comes to education. Trading on the platform is only possible if the trader has prior knowledge from other sources. However, you need not worry because there are several online resources for forex study.

The MetaTrader4 platform also has analysis and charting tools that allow you to trade without necessarily being a professional. You can also install other third-party algorithms or your own algorithms for personal trading.

Advantages and disadvantages of EagleFX

EagleFX has grown in recent years because of the many advantages it offers. It offers some of the lowest transaction fees in the industry. There are also no fees for deposits and withdrawals. The numerous assets also make it interesting for users with different needs.

However, there are also concerns, such as the lack of regulation and the need for more educational material.

EagleFX Rating Conclusion

As one of the new brokers on the market, EagleFX has stood out for its results and functionality. Several advantages have made it one of the fastest-growing brokers. However, it still needs to do more by improving its education materials and regulating entities.

Any trader who wants to sign up with this broker should only invest money if he is sure of his safety. Even though a broker might offer terms and conditions and segregated accounts, it could all be worth nothing if the company is liquidated.