Pros / Cons
- Multiple Regulated Broker
- Segregated Funds
- Low Spreads
- Excellent Customer Support
- They don't allow clients from Canada, Japan and USA
Last ATFX review update: September 21, 2020
What is ATFX?
ATFX is a relatively new Forex and CFD broker that has created quite a buzz among traders. Over the last three years, ATFX has gained the trust of Forex brokers by offering competitive spreads and an unmatched customer service that landed the company several high-profile awards. In 2019, ATFX also earned the World Forex Awards for providing the best trading educational program in the industry. Also, it won the ADVFN International Financial Awards for Best Customer Service.
AT Global Markets (UK) Limited was founded in 2017, and has its registered office in the financial hub of London, in the City. Its office is located on the 1st Floor, 32 Cornhill, in London, and it’s regulated by the FCA in the United Kingdom.
Regulation & Trust
Is ATFX a legit and regulated broker?
Yes, as a UK regulated broker by the FCA, ATFX also complies with the Complaints and the Financial Ombudsman Scheme (FOS). Furthermore, ATFX follows the Directive on Markets in Financial Instruments (MiFID) of the European Parliament and Council and can legally serve clients in the 27 Euro member states.
ATFX is a brand of AT Global Markets (UK) Limited and It was established as a native UK broker in 2017 and it is regulated by the UK’s Financial Conduct Authority (FCA license no. 760555).
ATFX takes the safety of client funds seriously and as a financial service provider under the UK’s regulatory authority, it keeps client funds segregated from its business and operational funds. Client funds are held in segregated accounts in top-tier UK banks. Moreover, ATFX is a member of the Financial Services Compensation Scheme (FSCS), which means your investment is fully guaranteed, up to £85,000 by the FSCS.
Trading Platforms & Tools
ATFX offers best in class trading experience for its various Forex pairs and CFD instruments via the popular MetaTrader 4 trading platform. MetaTrader 4 has been one of the top software packages used by Forex brokers that comes with a wide range of built-in technical analysis capabilities.
Besides basic charting tools, clients of ATFX can also utilize the automated trading functionalities as well as build their custom indicators and trading programs with the built-in MQL4 programming language and compiler.
Does ATFX use Metatrader?
Yes, MetaTrader 4 brings the power of third party trading tools through its marketplace where clients of ATFX can also purchase third party trading robots, technical indicators, or even find programmers to help them build custom indicators based on novel mathematical models. The MetaTrader 4 platform from ATFX also has an option for its clients to subscribe to profitable trading signals and copy trades.
Besides the MT4 desktop software, ATFX makes it easier for busy Forex traders to login and manage their accounts on the go using a web-based trading interface called MetaTrader WebTrader. The WebTrader is a stripped-down version of the desktop platform. However, it comes with almost all the basic technical indicators and technical analysis tools.
Furthermore, ATFX’s trading platform offers smartphone apps for both Android and iOS devices that clients can use to place orders, modify stop loss, or profit targets, as well as to conduct limited technical analysis on the go.
Instruments to Trade
How many assets can be traded at ATFX?
They mostly offers currency pairs for trading along with a wide range of CFD assets. At the time of writing this review, ATFX offered 40+ currency pairs, including all the Major and Minor pairs. Also, we found some exotic Forex pairs that even more experienced brokers did not offer in the industry, such as the pairs like USD/HUF and EUR/PLN are rather uncommon to see.
As a key CFD provider in the market, ATFX offers all key precious metal CFDs, including Gold and Silver. It also offers key commodities CFDs like Oil spots, both US WTI Crude Oil Spot CFD and UK BRENT Crude Oil Spot CFD. ATFX has an extensive portfolio of CFD indices that traders can own to follow major stock exchanges, such as US S&P 500 Index CFD, Japan Nikkei 225 Index CFD, UK FTSE 100 Index CFD, FTSE China A50 Index CFD, Australian S&P/ASX Index CFD and Euro Stoxx 50 Index CFD.
With the soaring popularity of various Cryptocurrencies among younger investors, ATFX has introduced a number of CFDs that cover almost all the popular cryptocurrencies, including Bitcoin CFDs, Ethereum CFDs, Litecoin CFDs and Ripple (XRP) CFDs.
What are the ATFX Spreads?
ATFX clearly lists its fees in a very transparent manner on its website and clients can easily find out the cost of trading any Forex pair or CFD. Clients can trade Forex pairs starting from zero spreads with the premium account, but even its Standard account comes with a minimum spread of only 1.0 pip. Commodities CFDs spreads begin from 2.0 Pips and Indices CFDs have competitive spreads as well. For example, ATFX offers 0.9 pip spread on the UK100 Index CFD, which is one of the lowest in the industry.
However, the Bitcoin CFD spread starts from 40 pips, which sounds a lot, but rather competitive in the industry. Nonetheless, traders can trade Ripple (XRP) CFDs for as low as 0.5 pips spread. All cryptocurrencies have a margin rate of 50%.
What is their max leverage?
As an FCA regulated broker, ATFX needs to comply with leverage requirements from the regulator and cannot offer more than 30:1 leverage, which is true for all regulated brokers registered in the United Kingdom.
Research & Education
ATFX has heavily invested in providing market analysis and trading education to its clients. ATFX offers market news and regular analysis and updates on relevant financial news on its portal. Moreover, they have partnered with Trading Central to offer top tier technical analysis. Trading Central has been providing key insight into momentum-based trading opportunities since 1999 and considered one of the best services in its class by industry commentators.
ATFX provides Webinars and regular seminars to clients. Also, anyone, even visitors to the website, can access its Forex Education Center that hosts a number of introductory courses about Forex and CFDs trading. Furthermore, we found the Web TV segment of ATFX to offer up-to-date insight into emerging trading opportunities that could be even beneficial to professional traders.
Type of Accounts
ATFX offers three different accounts that cater to a wide range of Forex and CFDs traders, from beginners to professional traders.
- The Standard account requires the least amount of initial deposit, only $500, and still comes with a dedicated account manager. The spreads are the highest on the Standard account, starting from 1.0 pips.
- The Edge account acts similar to the Standard account, but it requires a minimum initial deposit of $5000 and offers much lower spreads to traders, starting from only 0.6 pip.
- By contrast, the Premium account requires some major investments as the initial deposit is set at $10,000, but it comes with a Premium Account Manager and spreads start from 0.0 pips.
While the Edge and Premium accounts offer free VPS to clients, standard account holders do not enjoy this privilege.
ATFX Demo Account
You can test its platform with a demo of $100,000 virtual funds.
Forex Islamic Accounts: They provide Swap-Free Accounts?
Unfortunately ATFX don’t provide islamic accounts without overnight swaps.
What is the minimum deposit on ATFX?
Traders can funded their account with a deposit of $€£500 deposit.
Deposit & Withdrawal Options
ATFX supports three currency denominated accounts, EUR, GBP, and USD. Clients can deposit funds using major Debit and Credit cards for free. However, if you are planning to use a non-UK issued card, there might be some small fees.
ATFX also supports deposits using a handful of e-wallet providers such as Neteller, Skrill, and SafeCharge. Furthermore, clients can make deposits and withdrawals using a bank wire transfer.
All withdrawal methods require up to one day of processing time, but deposits using cards and e-wallet is usually processed within 30 minutes.
ATFX operates two separate phone lines. Clients calling from within the UK can call 0800 279 6219 and clients calling from outside the UK can reach the support desk at +44 203 957 7777. Phone support is available during weekdays, from Monday to Friday UK time, during office hours, 9:00 a.m-5:00 p.m.
Besides calling to get support, clients of ATFX can also directly email the support desk at [email protected]
Their website is in English, Chinese, Arabic, Spanish, Italian, German and Portuguese.
ATFX has gained the reputation of running a smooth operation within a relatively short period. While its primary market is in the UK and European markets, it has been gradually establishing a foothold in South East Asia and Middle Eastern countries.
Forex traders looking for a well-regulated broker should check the services offered by ATFX. The low initial deposit on the Standard account makes this broker one of the very few FCA regulated Forex brokers operating from the City of London.
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