ATFX Review

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Background

Although ATFX was launched in late 2014, the operator is a genuine veteran of the online Forex/CFD scene. Before its stint as ATFX, it used to be known as Positiva Market (CY) Ltd, racking up experience under that name. As a matter of fact, the Positiva name still shows up at various points throughout the official ATFX website, atfxgm.eu, most prominently in their Terms and Conditions section.

The corporate entity behind the Forex/CFD brokerage is ATFX Global Markets (CY) Ltd, which is based in Cyprus, at Silver House, 19 Spyrou Kyprianou Avenue, Ground Floor, 3070, Limassol. The company is a registered and regulated investment services firm. Its registration number is HE 340674 and its CySEC license number is 285/15. It is also said to be fully MiFID compliant, which means that it is allowed to sell its services in all the countries of the European Economic Area. As a Cyprus investment firm, the company is covered by the Investor Compensation Scheme, which in essence means that the state will compensate losses incurred by its clients, if the said losses come about on account of a sudden bankruptcy for instance. With ATFX, such scenarios are not really likely though, as the operation is well funded and it features superb liquidity.

From a regulatory perspective, ATFX’s main “partner” is obviously CySEC. According to the above mentioned license, the operation is entitled to offer investment services covering investment advice, portfolio management as well as the reception, transmission and execution of orders on behalf of its clients.

Ancillary services (like the granting of loans needed for margin/leverage) are also included in the package.

Besides CySEC, ATFX Global Markets Ltd. are registered with the UK’s FCA too (reference number: 750501), which gives them the right to peddle certain financial services in the UK.

Besides the FCA, the operation is registered with most national financial authorities of the EEA member countries.

According to the requirements of MiFID, the operator keeps the monies of its users in segregated accounts, with top European financial institutions. In accordance with the same guidelines, the activity of the operation is subjected to regular third-party audits, its capital adequacy requirements are fulfilled at all times (according to the official website, this ratio is kept above the minimum required by European regulators) and various customer fund protection measures are observed. The operation also observes strict AML and KYC policies.

The ATFX Trading Platform

Some reviewers out there say that ATFX is plagued by a lack of platform variety…Exactly what need is there for such variety though, when you have the best of the best set up and firing on all cylinders, in several different versions? We are of course talking about MT4.

First off, we have the also-MT4-based Web Trader, which -while it looks a little tame and underpowered compared to the full version, is extremely handy, and can be reached within a few clicks from the homepage of the brokerage. Opening positions, using technical indicators and various other trading tools, and checking one’s trading history is possible through the Web Trader as well. While the Web Trader is a simpler version of the full MT4 platform – as said – it does offer full market coverage, one-click trading and advanced charting features.

The full, downloadable version of the platform is obviously more powerful and it delivers all the features one might expect from MT4. The package can be downloaded for free, from the ATFX website, and it comes with more than 30 preinstalled technical indicators, 31 chart analysis tools, as well as MQL4, the programming language traders can use to code their own indictors and expert advisors. Indeed, ATFX supports the use of expert advisors.

The charting features of MT4 are well known, and in ATFX’s version, all these features are supported. Viewing positions directly on the chart, trading from the chart and placing quick orders is possible. Charts can be customized, and templates can be saved for later use. Warning sounds can be added as well.

The mobile versions of ATFX’s MT4 offer full Android, iOS and Windows compatibility. In addition to intelligent chart analysis and a simple and easy-to-use interface, the mobile trading platforms allow for the restraint-less setting up of positions, including stop losses, take profits and order resting.

ATFX Account Types and Trading Conditions

While some say that ATFX do not offer a proper selection of trading accounts, this is far from the truth. While the account selection could in fact be larger, we have found that all trading needs are catered for, through the 3 currently available account types.

For starters, we have the Demo Account, which gives traders a risk-free way to put the trading platforms and trading conditions to the test. Registering for such a Demo account is quick and simple. Demo accounts come loaded with some $100,000 in virtual money.

The basic version of the real money account is the Standard Account. The minimum deposit for such accounts is just $100, so they are indeed very accessible. The problem is that the trading conditions associated with the Standard account are not particularly attractive. On major currency pairs (such as the most popular EUR/USD), spreads start from 0.5 pips – which is indeed above the industry-average. With margin calls set to 100% and with maximum leverage at 1:400, scalping, hedging and EAs are all allowed. The execution is said to be STP (Straight Through Processing)- based.

The advanced sort-of account version is the Edge account, which takes things to an entirely new level indeed. The minimum required deposit for this one is $5,000, and for that money, the spread on the USD/EUR starts from as little as 0.5 pips. While the Standard account is commission free, there are commissions charged on the Edge account, but still, its trading conditions remain vastly superior. The execution, the maximum leverage and the margin call are the same as with the Standard account. Interestingly, the negative balance protection and the free trading tools deal stands for both accounts as well.

Long story short: while the spreads on the Standard account are much bigger, there are no commissions and the initial deposit requirement makes up for it. Given these benefits, it is indeed still the right choice for beginners and recreational traders.

ATFX Product Selection

The Trading Products section at ATFX is comprised of 4 categories: Forex, precious metals, crude oil and indices.

Of these, the Forex section offers the most tradable assets. A total of 43 currency pairs are on offer, from majors to minors and exotics. The exact trading conditions are listed separately for each pair at the site.

The precious metals section is about Gold and Silver, while crude oil lists a couple of assets called USOIL and UKOIL.

The indices section features a total of 9 tradable assets (indices-based CFDs).

ATFX Conclusion

Everything considered, ATFX is a decent trading destination. Sure, the spreads are a bit on the wild-side with their Standard account, but that is countered by the lack of commissions.