ATFX is a financial broker that offers CFD and Forex Trading services to those interested. The company is regulated in different countries, under the ownership of AT Global Markets. It acts as an STP broker, using the latest technologies to obtain great rates from the liquidity providers. ATFX has been growing a lot in popularity in the past years, which is why many Forex traders are showing more interest.
Each Forex trading platform is different, so even if many people are content with their services, this does not mean it will apply to everyone. Researching can be time-consuming, which is why we are here to do the hard work for you. We took it upon ourselves to gather all the relevant data so that you will have an easier time making your choice
Who Is ATFX For?
ATFX is a good choice for traders from the UK and the EU, particularly those who are looking for transparency and strict regulations. It is very easy to use, making it a good choice for beginners – something that is proven even further by the variety in educational materials. Experienced traders can also benefit from using ATFX, as you have a variety of trading instruments and multiple opportunities for progress.
Things We Like
We liked the fact that it has some fairly low Forex fees, making it a particularly good choice for traders on a budget. It’s also very easy to set up and use, something that can benefit even traders with experience. The strict regulations may not be to everyone’s fancy, but to us, it is a benefit; it means that they are actually serious about safety and are following regulations.
Things We Don’t Like
We didn’t particularly like the fact that email support is so slow. Usually, it takes 1-2 days until you get a reply with this medium. Also, while the absence of bonuses is a result of following the regulations, we’d still like to see some offers here and there.
Pros / Cons
- Forex fees are low
- Depositing and withdrawing money is free of charge
- Regulated by trustworthy authorities
- You only get a limited number of assets
- EU regulations prevent the broker from giving bonuses
- Email support is fairly slow
Safety and Regulation
ATFX is regulated by multiple authorities. Featuring negative balance protection for individuals in the European Union, they are considered as safe as a Forex broker can be. Here are some details regarding their safety and regulation protocol.
Who Is ATFX?
During our review, we discovered that ATFX was founded in 2014, originally under the name of Positiva Markets LTD. In the beginning, ATFX was a liquidity provider working for the bigger institutional traders, offering spot FX for large volume trades.
From that point on, the ATFX began to grow, catering mainly to those in the retail trading market. It became popular because it is an STP broker, which meant that conflicts of interest were not an issue. Its headquarters is set in London, but its presence has spread throughout the entire world.
Is ATFX Regulated?
ATFX is regulated by a variety of global authorities including the FCA, CySEC, FSA, and FSC. Thanks to these regulations, the broker may safely function in countries such as the UK, St. Vincent, and the Grenadines, Cyprus, and Mauritius.
- Authorized by the Financial Conduct Authority (FCA) under license number 760555.
- Authorized under Cyprus Securities and Exchange Commission (CySEC) with the license number 285/15.
- Authorized by the Financial Service Authority (FCA) in the Grenadines and St. Vincent under license number 333 LLC 2020.
- Authorized by the Financial Services Commission (FSC) under license number C118023331.
Is ATFX Safe or a Scam?
Generally speaking, ATFX has all the qualities needed to prove it is a safe broker. It features regulations from worldwide-accepted authorities, having investor protection from the FCA that goes up to £85,000. CySEC also offers investor protection up to €20,000. There is no investor protection from the FSA or the FSC.
ATFX offers negative balance protection, but it is only limited to retail customers from the European Union. Professionals, as well as the users that are not from the United States, will not receive negative balance protection.
Countries It Accepts Clients From
ATFX accepts users from countries all around the world. There are indeed a few exceptions to this, such as the United States, Canada, France, Japan, Syria, or North Korea. Check the regulations to make sure that your country is covered before you decide to sign up for an account.
Over time, ATFX received multiple awards for the services that it provided. The latest awards include the following.
– “Best Online Trading Services” by ADVFN in 2020
– “Most Transparent Forex Broker” by World Forex Awards in 2019
– “The Best Educational Program” by World Forex Awards in 2019
Range of Offerings and Products
ATFX has a wide range of products and offerings, including 40 currency pairs, 13 indices, 6 commodities, 4 cryptocurrencies, as well as stock CFDs. All of these products are provided in four different Forex markets under the appropriate regulations.
The leverage offered will depend on the type of account that you use. Standard, Edge, and Premium accounts feature 1:30 leverage, with 1.0 pip starting spreads for Standard, 0.6 pip for Edge, and 0.0 pip for Premium. Professional accounts have 1:400 leverage, with lower spreads going from 0.6 pip.
ATFX uses an MT4 platform for its trades – a platform that is highly popular among traders for its ease of use and reliability. Around 80% of brokers use the MT4 platform in one way or another, so with ATFX using it, the broker automatically becomes more reliable.
The platform is compatible with mobile and desktop use. Installation only takes a couple of minutes, after which you can add your login information. If you do not want to install the app, there is also a web browser that you may use.
With that in mind, if you are using another computer to log in, make sure you do not leave the account open. Using your own PC is the safest option here.
ATFX offers four types of accounts that you may use, depending on the kind of trader that you are. You may go for Standard Account, Edge Account, Premium Account, and Professional Account.
Each account type may have a different minimum deposit, spreads, leverage, and commissions. To apply for a professional account, you also need to meet certain criteria. For example, your choice will only be accepted if you have experience in working with finances or if you have a minimum portfolio of €500,000.
If you are not entirely certain whether ATFX is the right choice for you or not, then you may try the demo account first. It has all the features of a standard account, and you may use it to familiarize yourself with the trading process. You will also receive $100,000 to trade with so that you do not risk your funds. If you decide that ATFX is a compatible choice for you, then you may proceed with getting a live account.
Deposit and Withdrawals
ATFX deposit and withdrawal are free of charge. You may fund your account through bank transfers, debit, or credit cards, but also common electronic wallets.
What Is the ATFX Minimum Deposit?
The ATFX minimum deposit will depend on the type of account that you are using. The higher the account, the more you’ll have to pay. The minimum is $500 for a Standard account, but you’ll have to ensure $5,000 for an Edge account, $10,000 for a premium account, and $5,000 for a professional account.
Similar to the deposits, withdrawals are also free of charge. The time of withdrawal can take up to 2 business days for credit cards, but the process may be much faster with electronic wallets. Withdrawals may only be done through accounts that have your name.
Since the broker is regulated by the FCA, the broker does not provide any promotions or bonuses for UK clients or those from the European Union. This is done as an attempt to prevent conflicts of interest as a result of bonus programs.
Client Support and Education
The education offered by ATFX is top-notch. Aside from the demo account, you can use the trading platform tutorial, watch webinars and general educational videos, and read quality educational articles.
Customer service is offered by live chat, email, and phone. Live chat and phone get you quick responses within 30 minutes, but you may have to wait quite a bit to get an email response. There’s no 24/7 support either, as you may only contact them on weekdays (Monday-Friday) between 9:00 AM – 5:00 PM, London time.
Verdict – Overall Rating
Considering the number of authorities under which it is regulated, it is understandable why so many clients have been subscribing to their services. It is safe and easy to use, and the competitive spreads are attractive to any type of broker – no matter if they are beginners or pros.
All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. Our reviews and overall scores are based on the key areas above, in a combination with our opinion and commentary.
The reviews are shared and discussed with the brokers, but the authors of our website always have the final word. Furthermore, we always strive to keep the information on our website updated and relevant for our readers.
What helps us stand out is that we always test our brokers with an anonymous live account, to ensure we deliver the most accurate information and experience to our readers. Finally, our reviews and evaluation are always independent of any financial compensation we may receive from the brokers.
There is a very high degree of risk involved in trading securities.
With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.
All investments involve risks and are not suitable for every investor. The value of securities may fluctuate and as a result, clients may lose more than their original investment. The past performance of a security or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against the loss, in a down market.
There is always the potential of losing money when you invest in securities or other financial products. Investors should consider their investment objectives and risks carefully before investing. More details here.
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