What Kind Of Broker Is ATFX?
ATFX markets itself as an automation-focused broker that prioritises its customers. Services offered include FX trading, CFDs, market predictions, and analysis by financial experts. These experts have experience in retail and institutional trading, covering technical and fundamental factors.
Is ATFX Regulated?
Regulation & Jurisdiction
Different national agencies oversee ATFX’s subsidiary companies, which as outlined below:
- AT Global Markets (UK) Ltd is registered with number 760555. It is authorised and regulated by the Financial Conduct Authority (FCA) in the UK.
- AT Global Markets LLC is regulated in Saint Vincent and the Grenadines with the number 333 LLC 2020.
- ATFX Global Markets (CY) Ltd operates under licence no. 285/15, and is regulated by the Cyprus Securities and Exchange Commission (CySEC).
- AT Global Markets Intl Ltd is regulated and licensed by The Mauritius Financial Services Commission under licence number C118023331
ATFX Connect
ATFX Connect is the UK trading name of AT Global Markets (UK) Limited. This market is different from others at ATFX because it only serves institutional clients. Its customers are hedge funds, banks, asset managers, brokers, fintech firms, and high-net-worth individuals. Also, ATFX Connect offers bespoke services designed to meet each client’s specific trading needs.
ATFX Connect provides personalised liquidity services for Spot FX, Precious Metals, and CFDs. These services are available through different platforms such as FIX API, GUI, WEB TRADER, and BRIDGE setup.
There are three types of accounts available to ATFX Connect customers:
- Agency Account: Agency Account is a platform for clients to access various credit facilities. Clients can connect directly with Tier 1 Bank and Non-Bank providers in the market.
- Margin Account: The Margin Account connects customers to liquidity through tier 1 banks and non-bank liquidity providers.
- Bridge Account: Clients who use the Bridge Account have access to liquidity in Spot FX, Precious Metals, and CFDs.
ATFX Retail Accounts
Demo Account
ATFX provides a demo account for new traders. This allows them to practise and improve their trading skills. It helps them gain confidence in their strategy. This makes sure they don’t risk their money by making informed decisions using both fundamental and technical market analysis.
Trading Accounts
The four different account types offered by ATFX are Micro, Classic, Premium, and Raw. All accounts allow transactions up to 20 lots with leverage up to 400:1. Different accounts have different minimum deposits and spreads. ATFX offers trading on MetaTrader 4 (MT4) with videos and webinars to help beginners learn how to use the platform.
ATFX Account Types
| Account Type | Key Features |
|---|---|
| Micro Account |
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| Classic Account |
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| Premium Account |
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| Raw Account |
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Is ATFX Trading Platform Safe To Use?
ATFX MT4
ATFX offers trading on the MetaTrader4 (MT4) platform and provides helpful videos and webinars for beginners.
Additionally, beginners have a virtual demo account with $50,000 in virtual money to help them learn MT4 without risk.
MetaTrader 4 is a reliable trading platform with many advanced tools and features. The site offers chart analysis tools, over 30 indicators, and expert advisors.
Tradable Assets On ATFX
Trades on ATFX are executed through Straight Through Processing (STP), which is automated and fast. Traders have 43 currency pairs in the forex market, including major, minor, and exotic pairs.
ATFX allows trading on 15 US, European, and Asian indices. It also supports trading on crude oil, gold, and silver commodities. CFD trading is available for 50 major shares in the US and Germany. However, AT Global Markets (UK) Limited has stopped serving retail clients.
ATFX Spreads
A spread is the difference between a currency pair’s buying price (Bid) and selling price (Ask). This difference is measured in ” pips ” units in the forex market. Wide spreads typically occur in less liquid markets and during high volatility.
On the other hand, tight/narrow spreads are associated with highly liquid markets and major currency pairs. ATFX spreads are detailed in the table below:
How To Deposit & Withdraw Funds From An ATFX Account?
Below are the steps you should follow to fund your trading account:
- Log into your protected client portal, which is accessible via the homepage.
- Click on the “Deposit” button.
- Choose between “Bank Wire Transfer” and “Deposit Online” as your deposit method. Note that the “Deposit Online” option refers to deposits made using e-wallets or credit/debit cards.
- Pick the mode of payment that best suits your needs and follow the on-screen prompts.
- There are several ways to fund your account, including:
- Using Visa or Mastercard: This option offers free deposits and withdrawals, but deposits must be at least $100. Deposits are executed instantly, but withdrawal processing time will depend on your bank.
- Using Neteller or Skrill: This option also gives free deposits and withdrawals, and deposits must be at least $100. With this option, withdrawals and deposits are processed instantly.
- Bank Transfer: Withdrawals and deposits are free. However, there might be some transaction charges imposed by your bank fee. With bank transfers, the processing time for deposits and withdrawals is three to seven business days.
Trading Tools
ATFX has partnered with Trading Central, one of the foremost market analysis companies in the world. Trading Central analyses Forex, commodities, indices, and precious metals using expert data.
Also, ATFX gives all its customers free access to AutoChartist. Autochartist identifies price patterns in major Forex and CFD markets.
ATFX CopyTrade
The ATFX CopyTrade feature lets new traders follow the strategies of experienced traders. This feature is helpful when you’re busy and want to trade successfully but don’t have time to research and analyse markets.
Copy trading involves two types of accounts. One is a “Provider” account for the expert trader giving signals. The other is a “Follower” account for the person copying trades.
To join the ATFX copy trading platform as a follower, you only need to link your account to the expert account. Alternatively, you can sign up as a signal provider if you are a professional trader.
In return, you earn a percentage of profits from traders who buy your signal.
The ATFX CopyTrade dashboard ranks signal providers by earnings, risk, and win rate, enabling followers to choose their preferred signal providers easily. These services are available in all markets, including China and Southeast Asia.
Customer Interactions
Institutional and professional clients of ATFX have access to ATFX Connect. It also has its social trading platform, ATFX TeamUp. Customer service is available round the clock by phone, email, or live chat. It offers support in multiple languages, including Arabic, Dutch, English, Hindi, Vietnamese, Spanish, Thai, Chinese, Portuguese, and Korean.
ATFX Pros & Cons
Pros
- An award-winning broker with over 200 asset offerings
- A free demo account that is easy to open
- All-inclusive education resources for all traders
- Access to free daily analysis
- Regulated and licenced across multiple jurisdictions worldwide
- Free deposit and withdrawals
- Access to AutoChartist, which enables easy identification of patterns
- Competitive spreads
Cons
- Unlike most brokers, ATFX UK does not offer bonds and ETFs
- ATFX only offers the MT4 platform; no MT5 or Proprietary trading platform.
- ATFX UK does not have the freeze rate feature
- ATFX UK only supports 44 currency pairs
- High minimum deposit
- ATFX UK does not have fundamental analysis support
Is ATFX A Scam?
They say that imitation is the best form of flattery, and scammers know this too well. If you search using Google search engine words like “Is ATFX a scam?” or “ATFX scammer,” you will have many hits on your search results. ATFX is based in the UK and regulated by the Financial Conduct Authority (FCA).
If you’ve heard about scams involving ATFX, it’s likely not ATFX but imposters who scammed you. Several ATFX review sites have complaints from people whom imposters have scammed.
In 2022, the FCA warned the public that scammers are using authorised firms’ details to steal from them. Known as “clone firms,” these imposters typically contact unsuspecting investors/traders out of the blue. They are often happy to share the credentials of the legit firm, such as the firm reference number (FRN). However, they are smart enough to blend legitimate details with fake ones, making it difficult to detect if you are not keen.
ATFX Global Trading, an ATFX clone firm, tried to trick customers by pretending to be an authorised FCA firm. They were trying to steal legal information from AT Global Markets.
Customers should always go to the official FCA website for accurate information. Also, fake websites such as https://www.atfx.co/ have attempted to fleece money from customers while posing as ATFX.
Please note that the official ATFX website is www.atfxcapital.com
Conclusion
For beginners and experienced traders alike, ATFX is one of the most reliable brokers in the market. In addition to being a licensed FX and CFD broker that FCA regulates, it complies with MiFID and FOS.
Clients can trade with the broker without worrying about losing their funds or unauthorised use of their personal information.
Additionally, it offers a wide range of trading instruments, some not offered by other brokers. ATFX customers can trade in shares, CFDs, FX, Precious metals, currencies, cryptocurrencies, indices, and commodities.
However, adding bonds and ETFs can further increase the value of the ecosystem.
ATFX is a reliable broker dedicated to offering its clients a platform to trade successfully. Its dealings exude reliability, honesty, and transparency.