EagleFX Reviews
EagleFX Ltd. is a Dominica-based, multi-award-winning STP brokerage firm. The broker is used by many traders all over the world. The company provides alluring ECN trading terms and lightning-fast execution times. Additionally, the business has been highlighted in well-known periodicals like Forbes and Finance Magnates.
Trading platform MetaTrader 4
All EagleFX clients have access to the MT4 platform, which has analytical tools and dynamic charting. Additionally, MT4 offers thorough price analysis using more than 50 indicators, charts, nine different time frames, and a news feed. On Windows systems, MT4 can be downloaded; on Mac machines, it can be viewed straight from a web browser.
Markets
EagleFX has a good selection of assets, including:
- Cryptocurrencies: 38 pairs are available, including Bitcoin, Ethereum, and Ripple.
- Commodities are precious metals and energy, including gold, silver, and oil.
- Forex: 55 currency pairs are offered, including majors, minors, and exotics.
- Indices: 11 well-known indices such as the FTSE 100 (FTSE 100) and the NASDAQ 100 (NAS100).
- Shares of 64 global companies, including Netflix and Amazon
Spreads and Commission
Live spreads on EagleFX vary and start at 0.1 pip. The EUR/USD pair typically has a spread of 0.7 pips, whereas the NASDAQ typically has a spread of 1.12.
Additionally, EagleFX levies a $6 commission for each lot turnover. These trading terms are often competitive and on par with those offered by XM, HugosWay, and Oanda.
The only additional costs are swaps, which are assessed when trades are left open overnight.
Leverage
EagleFX provides excellent leverage for currencies and metals up to 1:500. While cryptocurrencies are only available up to 1:100, indices and energy can be used up to 1:200. Before opening an account, users should be informed of the risks associated with trading with leverage.
Mobile applications
EagleFX provides an MT4 mobile app for iOS and Android phones and tablets. A complete range of analytical capabilities, including real-time quotations and trading right from the chart, are included in the application. The user interface is aesthetically pleasing and simple to use. More than 20 different languages are supported by the app, and it has positive online reviews and ratings.
You can download the iOS app and APK from Google Play or the App Store.
Payments
Three quick and safe payment options are provided by EagleFX: bank transfer, Visa/MasterCard, and Bitcoin. There are no deposit fees, and the minimum deposit for cards or wire transfers is $50 or $10, respectively, for Bitcoin.
Payments can be made via Bitcoin, Coinbase, PayPal, or MasterCard. Once more, they are free, and withdrawals are typically handled in a single hour. The minimum withdrawal amount for Bitcoin is $10 (or EUR or GBP). There is no upper restriction on withdrawals.
Demo Account
An unlimited-use demo account is available from EagleFX at no cost. In the MT4 simulation, traders can set their leverage and virtual fund limit. A demo account is extremely helpful for new traders since it enables you to execute fictitious trades without risking real money. Even seasoned traders can practice their trading techniques on trial accounts. Open a live trading account once everything is ready.
Regulation and license
EagleFX is an unlicensed broker with headquarters in Dominica. Traders need to be aware that unregulated suppliers frequently offer little if any, protection for their clients. As a result, we are unable to vouch for EagleFX’s legitimacy as a broker.
To protect client funds, EagleFX claims to use cold storage for bitcoin. This makes sure that the client’s funds are held on an external storage device rather than the broker’s web server, which is hacker-proof.
EagleFX Account Types
For all customers, the business offers a single standard account type with a $10 minimum deposit requirement. 0.01 is the minimum lot size, and 1000 lots is the maximum trading size. For Islamic traders, the broker also provides swap-free accounts.
Trading Hours
Both the forex and cryptocurrency markets are open continuously. The Specifications area of MT4 contains trading sessions for certain assets. Although the broker includes a helpful link to a time zone converter in the FAQ, all market hours are in GMT+3.
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