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About Eaglefx Forex
Eaglefx Forex assists traders in trading on the Forex market. The company is registered in the Dominican Republic and provides financial services to traders from all over the world. EagleFX offers clients the following instruments: stocks, currency pairs, cryptocurrencies, commodities, and indices. Trading using the service of copying transactions, automated programs, and PAMM accounts is not provided. EagleFX received three awards in 2020 for “FX Broker With Best Withdrawal Options”, “Best ECN/STP Broker” and “Best Forex Broker”.
Eaglefx Forex is a global FX and CFD brokerage offering trading opportunities on the MT4 platform. Assets include commodities, indices and cryptocurrencies. This review will cover the registration and verification process, commissions, minimum deposit requirements, platform features, and more. Is EagleFX regulated or is it a scam? Find out.
Eaglefx Forex at a glance
| Minimum Balance | 10 USD |
| Accept Currency | USD, BTC, GBP, and EUR |
| Leverage | 1:500 |
| Year Founded | 2019 |
| Publicly Traded (Listed) | Yes |
| Bank | Yes |
| Mobile App | Available |
| Customer Support | Phone, email and live chat support 24/7. In person at local branches. Support also available via text, Facebook Messenger, Twitter direct message, Apple Business Chat and Amazon Alexa. |
| Address | 8 Copthall, Roseau Valley 00152, Dominica |
| Official Website | Click Here To Visit |
How To Create Account At Eaglefx Forex
Eaglefx Forex offers many different account types with no minimum deposit requirements, which means US citizens of all financial backgrounds can sign up.
Deposits & Withdrawals
When we used EagleFX, our experts were pleased to see the broker does not apply a deposit or withdrawal fee for any payment methods, although third-party charges may apply.
The brokerage offers three payment options; bank wire transfer, credit/debit cards (Visa and Mastercard) and Bitcoin. The minimum deposit amount is $10 for Bitcoin and $50 for cards or bank transfers.
When reviewing the withdrawal options, it was disappointing to see no wire transfer option. PayPal, credit/debit cards or Bitcoin are available. Withdrawal times are fast, with requests reviewed within 30 minutes. The time to receive funds will vary. Public holidays may cause delays and Bitcoin fund transfers are dependent on network confirmation times.
The minimum withdrawal amount via Bitcoin is 10 USD/EUR/GBP. There is no maximum withdrawal limit.
Demo Account
Eaglefx Forex offers a free demo account which can be used for an unlimited time. Traders can specify their own leverage and virtual fund limit within the MT4 simulation.
A paper trading profile is ideal for new or inexperienced investors to place trades completely risk-free. Experienced traders can also use demo accounts to finesse a strategy or test out a new asset.
Deals & Promotions
At the time of writing, EagleFX did not offer any financial incentives to new or existing clients. This includes a no deposit bonus deal or a welcome promotion. As an unregulated broker, these may be offered in the future, given the lack of regulatory oversight. Keep an eye on the broker’s website and members’ area for upcoming promotions.
Trading Platform
Eaglefx Forex offers just one trading terminal; MetaTrader 4 (MT4). The platform is available as a desktop download or can be used directly through all major web browsers such as Internet Explorer or Google Chrome.
The trading terminal is intuitive and suitable for investors of all experience levels. Dashboards can be fully customized, with interactive charting, technical analysis tools and one-click order execution.
Features include:
- Nine timeframes
- Multilingual interface
- Fully customizable charts
- Four pending order types
- One-click order execution
- Three order execution types
- MQL4 programming language
- 30+ built-in technical indicators
- Direct access to Expert Advisors and automated trading systems
EagleFX Fees & Spreads
Live spreads are variable at EagleFX, starting from 0.1 pips. Price quotes are updated every 10 seconds within the platform interface. Our review found typical spreads on the EUR/USD currency pair are 0.7 pips, while on the NASDAQ, they are 1.1 pips. Remember, market volatility can significantly impact spreads.
Commissions apply for all trading instruments and are charged at $6 per lot round turn.
Overall these trading conditions are pretty middle-ground when we compare with the likes of XM ($3.50 per lot), HugosWay ($10 per round lot turn) and OANDA ($5 per 100,000 base currency traded).
Overnight swap charges apply. There are no inactivity fees for dormant accounts.
Leverage
Eaglefx Forex offers generous leverage up to 1:500, though this varies by asset type. Users should be aware of the effects of leveraged trading before creating an account. Although profit potential can improve, losses may be amplified.
- Forex – Up to 1:500
- Stocks – Up to 1:20
- Indices – Up to 1:200
- Energies – Up to 1:200
- Cryptocurrency – Up to 1:100
- Precious Metals – Up to 1:500
Regulation & License
EagleFX is an unregulated broker based in the Dominican Republic. Traders should note that unlicensed providers will not usually provide much, if any, client protection. With that said, the broker does state that it adheres to tier-one client fund processing, working with top global banks.
EagleFX also uses Bitcoin Cold Storage to safeguard client funds. This ensures that customer money is not stored on the broker’s web server, but instead, it is housed within an external storage device, safe from hackers.
Note, residents of the United States are not permitted to trade on the platform as the broker does not hold a license with the Securities and Exchanges Commission (SEC) or the Commodity Futures Trading Commission (CFTC).
High Grade Features Which Offer By EagleFX
Features
Alerts and notifications
The MarketWatch feature on the thinkorswim desktop trading platform lets you set up alerts and notifications for the following: price, news, and those of your choice. You’ll get notifications via email , push notification or text message.
Research and education
TD Ameritrade offers education for all levels, from the basics of how to trade stocks to advanced options trading sessions. You’ll find in-depth investing education resources for TD Ameritrade clients at its more than 175 branch locations. And it’s also taking advantage of its physical presence with in-house sessions for investors on market-related topics like how to trade stocks or options.
Mobile Apps
The MT4 mobile app is available for download to iOS and Android devices. The app includes a full range of analytical features, with real-time quotes and trading directly from charts. The mobile interface is visually appealing and easy to navigate.
The app is available in over 20 languages and reviews and ratings online are good. The iOS and APK apps can be downloaded from the Apple App Store or Google Play.
24/7 Support
The EagleFX support team are on hand 24/7 to support you through Live Chat, Email or Phone when you need it most.
24/7 Trading
Trade a variety of assets at EagleFX and take advantage of uninterupted 24/7 trading.
Same Day Withdrawals
Eaglefx Forex prides itself on processing withdrawals within the same day to ensure you have rapid access to your funds.
Video
Customer Service
The fastest way to get in touch with Eaglefx Forex is via the 24/7 live chat support. You can also submit a ticket through the website where responses are typically received in 15 minutes. For those who would prefer to speak to a member of the team over the phone, you can submit your phone number and request a call-back within four hours.
Pros & Cons Of TD Ameritrade
| PRO | CONS |
|---|---|
| You can contact support at any time of the day, any day of the week. | There are no passive income programs. |
| The STP technology is used for fast order execution. | Country restrictions |
| You can trade using PCs, tablets, and mobile devices. | There are no educational articles, videos, or courses on the broker’s website. |
| Good customer support. | |
| To protect clients’ funds, the broker uses a cold storage method. |
EagleFX Review Conclusion
EagleFX ranks highly in every category that we measured. They are undoubtedly one of the best brokers in the industry, and we only briefly touched on certain categories in this article. There is much more that could be said about the positives of EagleFX , and not that much to be said about the negatives. We hope You Like EagleFX Review
Frequently asked questions
What Is Fee Structure Of EagleFX ?
EagleFX does not charge a commission to trade stocks, options or ETFs. There are also no inactivity or annual fees, nor is there a fee to make partial transfers out of your account.
How To Contact EagleFX Customer Support Team
EagleFX Forex customer support team offers services in English, Chinese and Spanish. You can contact TD Ameritrade using live chat, email or phone, depending on your needs.
What is the minimum account balance at EagleFX?
Bear in mind that it is your responsibility to ensure your account is properly funded. You should monitor your account at least on a daily basis to make sure you always meet your broker’s margin requirements
