Overview of ATFX

ATFX is a global online forex and CFD broker established in 2014, offering a range of trading instruments, including forex, commodities, indices, and shares. The broker also offers several account types, including the Standard Account, Edge Account, and Premium Account, each with different features and benefits to suit different trading needs, with $100 to start. Besides, the broker also offers a demo account for traders to practice and test their strategies. One of the key features of ATFX is its trading platforms. The broker offers the popular MetaTrader 4 (MT4) platform, which is known for its advanced charting tools and user-friendly interface.

ATFX provides its clients with a range of educational resources to help traders improve their trading knowledge and skills. These resources include trading guides, webinars, seminars, and video tutorials. The broker also offers customer support services 24/5 via live chat, phone, and email.

Is ATFX Legit or a Scam？

ATFX is a legitimate forex broker that operates under strict regulations. TThis broker is currently regulated by two major financial regulators, the Financial Conduct Authority (FCA) in the United Kingdom and the Cyprus Securities and Exchange Commission (CySEC) in Cyprus. These regulators are known for their strict oversight and regulations in the financial industry, which provides traders with a higher level of security and protection. ATFX's compliance with these regulations demonstrates its commitment to transparency and fairness in its business practices.

Pros & Cons of ATFX

ATFX has a number of advantages and disadvantages that traders should consider before choosing this broker. On the positive side, ATFX is a well-regulated broker that offers a range of trading platforms and tools, including MetaTrader 4, WebTrader, and mobile trading apps. The broker also provides a wide range of trading instruments, including forex, CFDs, and cryptocurrencies, and offers competitive spreads and low trading fees. In addition, ATFX provides its clients with a variety of educational resources to improve their trading skills and knowledge, and customer support services are available 24/5 through live chat, phone, and email.

On the downside, ATFX has limited options for deposit and withdrawal methods, as it only accepts payments via bank transfers and credit/debit cards. Another potential disadvantage is that ATFX does not offer social trading or copy trading features, which may be important to some traders. Finally, ATFX has limited research and analysis tools compared to other brokers, which may be a concern for more advanced traders.

Market Intruments

ATFX provides a wide range of tradable assets to its clients, including forex, metals, oils, indices, cryptocurrencies, and shares. This diverse range of instruments allows traders to diversify their portfolios and take advantage of various market conditions.

Forex-The forex market is the largest financial market in the world, and ATFX provides access to over 100 currency pairs, including major, minor, and exotic pairs.

Precious Metals-The broker also offers trading in precious metals such as gold and silver, which are popular safe-haven assets during times of market volatility.

Indices-Additionally, traders can speculate on the price movements of various indices, including the popular S&P 500 and NASDAQ.

Oils-Oils, such as Brent and Crude Oil, are also available for trading, which are popular among traders due to their high volatility.

Cryptocurrency-ATFX also offers trading in cryptocurrencies such as Bitcoin, Ethereum, and Litecoin, which have gained increasing popularity in recent years.

Shares-Lastly, traders can also invest in shares of some of the world's largest companies such as Apple, Amazon, and Google.

Account Types

ATFX understands that every trader has their own trading style, preferences, and needs, which is why the broker offers a range of account types to choose from. Whether you're a beginner or an experienced trader, there is an account type that is suitable for you.

The Standard Account is a basic account type that is suitable for beginner traders who are just starting in the forex market. It requires a minimum deposit of $100 and offers fixed spreads starting from 1.0 pips. This account type also provides access to the MT4 trading platform and a range of trading instruments, including forex, metals, oils, indices, cryptocurrencies, and shares.

The Edge Account is a more advanced account type that is suitable for traders who have some experience in the forex market. It requires a minimum deposit of $5,000 and offers variable spreads starting from 0.6 pips. This account type also provides access to the MT4 trading platform and a range of trading instruments, including forex, metals, oils, indices, cryptocurrencies, and shares. In addition, the Edge Account offers free VPS hosting, market analysis, and a personal account manager.

The Premium Account is the most advanced account type offered by ATFX, designed for professional traders who require advanced trading features and tools. It requires a minimum deposit of $10,000 and offers variable spreads starting from 0.0 pips. This account type also provides access to the MT4 trading platform and a range of trading instruments, including forex, metals, oils, indices, cryptocurrencies, and shares. The Premium Account offers free VPS hosting, market analysis, a personal account manager, and access to exclusive trading tools, such as Autochartist and Trading Central.

Demo Trading

ATFX offers demo trading accounts to its clients, allowing them to practice and familiarize themselves with the trading platform and strategies before committing real funds. Demo accounts are available for all account types, including Standard, Edge, and Premium accounts. These accounts simulate real market conditions, providing traders with the opportunity to test their trading skills and strategies without any financial risks.

The demo accounts are also an excellent tool for beginners who are new to trading as it enables them to learn the basics of trading without the fear of losing money. The demo accounts offer the same features as live accounts, including access to all trading instruments and educational resources, enabling traders to experience the real trading environment.

ATFX's demo accounts have no time limit, giving traders ample time to perfect their trading strategies and techniques. Moreover, traders can switch between the demo and live accounts anytime they want, enabling them to transition smoothly to live trading when they are ready. The demo accounts offered by ATFX are an excellent resource for traders looking to improve their trading skills and strategies in a risk-free environment.

How to open an account with ATFX？

• Visit the ATFX website: Go to the ATFX website and click on the “Start Trading” button on the top right corner of the homepage.

• Fill in your personal information: You will be directed to a page where you will need to provide your personal information, including your full name, date of birth, contact details, and country of residence. You will also need to choose your preferred account type.

• Provide your financial information: You will be asked to provide information about your financial status, including your employment status, annual income, and investment experience.

• Submit verification documents: To complete the registration process, you will need to submit a copy of your passport or ID card, as well as a proof of address, such as a utility bill or bank statement.

• Fund your account: Once your account is verified, you can fund it using one of the available payment methods, such as bank transfer, credit/debit card, or e-wallet.

• Start trading: Once your account is funded, you can start trading on the ATFX platform using your preferred trading instruments and strategies.

However, when browsing through the broker's website, an unwelcomed page showed up. A message popped up on the screen informing us that only the big shots - professional clients - were allowed to use the trading platform, while retail clients were left out in the cold.

Here's a table that compares the spreads on EUR/USD, UK100, and Oil offered by ATFX, Avatrade, IC Markets, and FP Markets:

Leverage

ATFX offers varying levels of leverage depending on the type of trading account and financial instrument.

For forex trading, the maximum leverage available for retail clients is typically 30:1 for major currency pairs and 20:1 for minor and exotic currency pairs. Professional clients may have access to higher leverage, up to a maximum of 400:1, depending on their trading experience and other criteria.

For trading other financial instruments such as commodities, indices, and shares, the leverage may vary depending on the asset class and market conditions.

It's important to note that while leverage can amplify potential profits, it also magnifies potential losses, so it's crucial to use leverage responsibly and only trade with funds you can afford to lose. Additionally, different regulations may apply in different regions and countries, which could impact the maximum leverage available to traders.

Spreads & Commissions (Trading Fees)

ATFX offers competitive spreads and commissions on its trading accounts, which vary depending on the type of account and trading instrument.

For forex trading, ATFX offers both fixed and variable spreads, depending on the account type. The spreads for major currency pairs on the standard account start from 1.0 pip, while the spreads on the Edge account start from 0.0 pips but come with a commission of $7 per lot traded.

For other financial instruments such as commodities, indices, and shares, the trading fees may vary depending on the specific asset class and trading platform used.

Non-Trading Fees

Aside from trading fees, ATFX may charge non-trading fees that traders should be aware of, including:

• Inactivity Fee: ATFX may charge an inactivity fee of $50 per quarter for accounts that have been inactive for more than 90 days. This fee may be waived for active traders or in certain circumstances.

• Conversion Fees: If you deposit or withdraw funds in a currency different from your account's base currency, ATFX may charge a conversion fee to cover the costs of currency conversion.

• Overnight Financing Charges: If you hold a position overnight, ATFX may charge or credit you with an overnight financing charge, also known as a swap fee. This fee is based on the interest rate differential between the two currencies being traded and is typically charged at a fixed percentage of the position value.

• Withdrawal Fees: While ATFX does not charge any withdrawal fees, third-party payment providers may charge a fee for their services.

• Deposit Fees: ATFX does not charge any deposit fees, but third-party payment providers may charge a fee for their services.

Trading Platform

ATFX currently provides the MetaTrader 4 (MT4) platform for its traders, which is a widely used platform among forex traders. It offers advanced charting tools, technical analysis indicators, and automated trading options through Expert Advisors (EAs).

While some traders may prefer other trading platforms, the MT4 platform is a robust and reliable option with a large community of users and third-party developers creating and sharing custom indicators and EAs.

In addition to the MT4 platform, ATFX also offers a range of trading tools and resources, including economic calendars, market analysis, and educational resources such as webinars and tutorials.

Check out this table that compares the trading platforms of ATFX, IC Markets, FP Markets, and Exness:

Deposit & Withdrawal

Minimum Deposit

ATFX's minimum deposit requirement of $100 makes it an accessible option for traders who are just starting out or those who prefer to trade in smaller amounts. The following payment methods are available for deposits:

• Credit/Debit Cards: Visa and Mastercard are accepted. The processing time for deposits made via credit/debit cards is instant, and there are no fees charged by ATFX.

• Bank Wire Transfer: Deposits can be made via bank wire transfer. The processing time for this method varies, and it may take 2-5 business days to reflect in the trader's account. ATFX does not charge fees for deposits made through bank wire transfer, but traders should check with their bank for any charges that may apply.

• Online Payment Methods: ATFX also supports online payment methods such as Skrill, Neteller, and Trustly. Deposits made using these methods are typically processed instantly. ATFX does not charge fees for deposits made through online payment methods, but third-party payment providers may charge a fee for their services.

Withdrawal

How to withdraw money from my trading account？

1. Log in to the secure Client Portal section of our homepage, then click “Withdrawal”.

2. This broker will always return funds to the original source they were deposited. For example, if a deposit is made by credit card, funds will be returned to the same credit card. The return can be done through bank transfer, credit/debit card or e-wallet transfers.

3. If you are withdrawing profit, this broker may ask you for bank account details to send funds directly to your account.

Please note: Your bank account must be fully verified before submitting a withdrawal request.

The time it takes for funds to return to a trader's bank account will depend on the withdrawal method used.

For bank transfers, once the funds have been removed from the trading account, it will take 3-5 business days before they arrive in the trader's bank account. The actual time required for processing may vary, and traders should refer to their bank for more information.

If using an e-wallet, funds will typically be returned to the trader's e-wallet within 2 business days.

For refunds to credit/debit cards, the process typically takes 2-5 business days after the withdrawal has been successfully processed. However, if there are restrictions preventing funds from being returned to the card, ATFX may request a valid bank statement and return the funds to the trader's registered bank account. In such cases, the trader will be contacted by their relationship manager.

All withdrawal requests received before 2 pm (UK time) on a business day will be processed on the same day. Requests received after this time will be processed on the next available business day.

Customer Support

It seems that ATFX understands the importance of providing reliable and efficient customer support to help traders along the way. Whether you're a seasoned professional or just starting out, the brokerage firm offers a range of customer support options to ensure that you have access to the assistance you need, when you need it.

• Live Chat: ATFX provides a live chat feature on their website, which allows traders to chat with a customer support representative in real-time. This option is convenient and efficient, as traders can get their questions answered without having to wait for a response via email or phone.

• Email: Traders can contact ATFX's customer support team by email. The brokerage firm aims to respond to all queries within 24 hours, making this a good option for non-urgent matters.

• Phone: ATFX also provides a phone number for traders to call if they prefer to speak to a customer support representative directly. The phone lines are open from Monday to Friday, during business hours.

• FAQ Section: ATFX's website also features a comprehensive FAQ section, which covers a range of topics such as account opening, funding, trading platforms, and more. This section can be a useful resource for traders who prefer to find answers to their questions independently.

• Social Media: ATFX has an active presence on social media platforms such as Facebook, Twitter, and LinkedIn. Traders can use these channels to connect with the company and stay up to date with news and updates.

Educational Resources

ATFX offers a wide range of educational resources to help traders improve their skills and knowledge.

One of the primary educational resources available through ATFX is their comprehensive online trading academy. This academy provides traders with a variety of resources, including webinars, videos, articles, and e-books, all designed to help traders learn the fundamentals of trading and improve their strategies. The academy covers a range of topics, from basic concepts such as market analysis and risk management to more advanced topics like trading psychology and algorithmic trading.

In addition to the online trading academy, ATFX also offers a range of educational resources specifically tailored to the needs of different traders. For example, beginners can take advantage of the company's beginner's course, which provides an introduction to the basics of trading, while more experienced traders can benefit from advanced courses covering topics such as technical analysis and trading psychology.

ATFX also provides traders with access to a variety of market analysis tools and resources. These include daily market analysis reports, economic calendars, and real-time news feeds, all of which can help traders stay informed about the latest market trends and make more informed trading decisions.

Conclusion

ATFX is a well-known brokerage firm that offers a variety of trading services and features for traders of all levels. The brokerage's competitive trading conditions, such as low spreads, high leverage, and multiple trading instruments, provide traders with opportunities across various markets.

Additionally, ATFX provides several customer support channels, including live chat, email, and phone, to help traders with their queries and concerns. The brokerage also offers educational resources, such as an online trading academy and tailored courses, to help traders develop their knowledge and skills.

While ATFX has received positive feedback from some traders, as with any brokerage firm, there are also negative reviews and complaints online. However, these reviews should be taken with a grain of salt, and traders are encouraged to conduct their research and make informed decisions before investing their funds with any broker.

FAQs

Q: Is ATFX a regulated broker？

A: Yes, ATFX is a regulated broker that is authorized and regulated by multiple financial authorities, including the FCA in the UK, the CySEC in Cyprus.

Q: What is the minimum deposit requirement for ATFX？

A: The minimum deposit requirement for ATFX is $100.

Q: What trading platforms does ATFX offer？

A: ATFX offers the popular MetaTrader 4 (MT4) trading platform for desktop, web, and mobile devices.

Q: What are the trading fees and spreads at ATFX？

A: ATFX offers competitive trading conditions, including tight spreads and low commissions. The exact trading fees will depend on the account type and trading instrument.

Q: What payment methods are accepted by ATFX？

A: ATFX accepts a range of payment methods, including bank wire transfer, credit/debit cards, and e-wallets. The availability of payment methods may vary depending on the trader's location.

Q: Does ATFX offer a demo account？

A: Yes, ATFX offers a demo account for traders to practice their trading strategies and familiarize themselves with the trading platform before trading with real money.

Q: Does ATFX offer customer support？

A: Yes, ATFX provides customer support through multiple channels, including live chat, email, and phone. Traders can also access a comprehensive FAQ section on the ATFX website.

Q: Is ATFX suitable for beginner traders？

A: Yes, ATFX offers a range of educational resources, including an online trading academy and tailored courses, to help beginner traders develop their knowledge and skills. Additionally, the broker offers a demo account for traders to practice their trading strategies before trading with real money.

What is FirewoodFX？

FirewoodFX, established in 2014 and headquartered in Saint Vincent and the Grenadines, operates as an unregulated entity in the financial markets. FirewoodFX offers a wide array of market instruments. The platform extends the option for users to familiarize themselves with its services through a demo account.

If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.

Pros & Cons

Pros:

- Demo Account Availability: FirewoodFX provides a demo account option, enabling traders to practice trading strategies and familiarize themselves with the platforms features without risking real funds.

- MT4 Trading Platform: Trading occurs through the widely acclaimed MetaTrader 4 (MT4) platform, known for its stability, versatility, and extensive range of trading tools, providing traders with a seamless trading experience.

- Multiple Account Options: FirewoodFX caters to traders of different experience levels by offering various types of trading accounts, each tailored to meet specific preferences and objectives.

- Convenient Deposit and Withdrawal Methods: The platform offers a variety of deposit and withdrawal methods, including bank transfers, e-wallets, cryptocurrencies, credit cards, and e-payment systems, providing clients with flexibility and convenience in managing their funds.

Cons:

- Lack of Regulation: One of the most significant drawbacks of FirewoodFX is its unregulated status, which exposes traders to increased risks due to the absence of oversight from governmental or financial authorities.

- Regional Restrictions: FirewoodFX does not accept clients from the United States of America, North Korea, Iraq, Iran, Saint Lucia and Saint Vincent and the Grenadines. These restrictions will stem from regulatory compliance issues or other factors specific to those regions.

Is FirewoodFX Safe or Scam？

FirewoodFX's current lack of valid regulation signifies a concerning absence of oversight from governmental or financial authorities, heightening the inherent risks associated with investing through their platform. Without regulatory supervision, there exists a substantial potential for malfeasance, where the operators of the platform hold no accountability for their actions.

This absence of oversight leaves investors vulnerable to various forms of misconduct, including misappropriation of funds and fraudulent practices. Essentially, the absence of regulation exposes investors to significant risks, as there are no safeguards in place to protect their investments.

Moreover, the lack of regulatory oversight means that FirewoodFX's operators have the autonomy to dissolve the platform abruptly, leaving investors with no recourse or means of recovering their investments.

Therefore, engaging with FirewoodFX carries inherent risks that every investor should be cognizant of before committing any funds to the platform.

Market Instruments

FirewoodFX offers forex, gold, crypto, oil and more.

- Forex (Foreign Exchange): This includes major currency pairs like EUR/USD, GBP/USD, USD/JPY, as well as minor and exotic currency pairs such as EUR/GBP, USD/TRY, and many others.

- Gold (XAU/USD): Trading in gold allows investors to speculate on the price movements of this precious metal against the US dollar.

- Crypto: FirewoodFX likely offers trading in various cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and others. Investors can trade cryptocurrency pairs against major fiat currencies like USD or EUR.

- Oil (Crude Oil): This typically involves trading contracts for difference (CFDs) on the price of crude oil, allowing traders to speculate on its price movements without owning the physical commodity.

Account Types

FirewoodFX offers various types of trading accounts tailored to meet the needs of different types of traders.

- Cent Account: This account is suitable for beginners or those who want to trade with smaller amounts of capital. With a minimum deposit of USD 10 (or equivalent in USC), traders can start trading with micro-lot sizes, allowing for precise risk management and lower exposure to the market.

- Micro Account: Similar to the Cent Account, the Micro Account is designed for traders who prefer smaller trade sizes. It also requires a minimum deposit of USD 10 and offers micro-lot trading, but the base currency is USD instead of USC.

- Standard Account: The Standard Account is suitable for intermediate traders who are comfortable with standard lot sizes and require more flexibility in their trading. It requires a minimum deposit of USD 10 and offers standard lot trading.

- Premium Account: The Premium Account is designed for more experienced traders who may require additional features or benefits. It also requires a minimum deposit of USD 10 and offers standard lot trading like the Standard Account.

- ECN Account: The ECN (Electronic Communication Network) Account is tailored for advanced traders who require direct access to liquidity providers and prefer tighter spreads and faster execution. It requires a higher minimum deposit of USD 200 but offers the same standard lot trading as the Premium Account.

Furthermore, FirewoodFX offers demo accounts for traders who want to practice trading strategies and familiarize themselves with the platform's features without risking real funds. Demo accounts replicate real market conditions, providing a risk-free environment for learning and honing trading skills.

How to Open an Account？

To open an account with FirewoodFX, please follow these steps:

Leverage

FirewoodFX offers a maximum leverage of 1:1000, which means traders can control positions up to 1000 times the amount of their initial investment. Leverage allows traders to amplify their potential returns by using borrowed capital, enabling them to enter larger positions with a relatively smaller amount of capital. This can be advantageous for traders looking to maximize their profit potential with limited funds. However, it's important to note that leverage magnifies both profits and losses, making it a double-edged sword.

Spreads & Commissions

FirewoodFX offers competitive spreads across its range of account types. The spreads are variable and start from as low as 1 pip for certain account types. Variable spreads mean they fluctuate according to market conditions, providing traders with the opportunity to benefit from tighter spreads during times of high market liquidity. Additionally, FirewoodFX doesn't charge any commissions for standard trading accounts, making it attractive for traders who prefer not to pay additional fees per trade.

However, for the Micro account, FirewoodFX imposes a commission of $7 per lot traded. While this commission might seem nominal, it's essential for traders to factor it into their overall trading costs, especially if they engage in high-volume trading. The commission structure ensures that traders using the Micro account are aware of the costs associated with their trades upfront, allowing for better transparency and informed decision-making.

Trading Platforms

FirewoodFX provides its clients with the popular MetaTrader 4 (MT4) trading platform, renowned for its user-friendly interface and comprehensive features. With MT4, FirewoodFX users gain access to a powerful trading environment equipped with advanced charting tools, technical indicators, and analytical resources, empowering traders to make informed decisions.

The platform offers a seamless trading experience across various devices, including desktops, laptops, smartphones, and tablets, allowing traders to access their accounts and execute trades anytime, anywhere. MT4's compatibility with different operating systems ensures flexibility for traders who prefer trading on their preferred devices.

Deposits & Withdrawals

FirewoodFX offers a variety of convenient deposit and withdrawal methods to cater to the diverse needs of its clients. Clients can fund their accounts via bank transfer, QRIS, internet banking, virtual accounts (e-wallets), BIDR BEP20, BUSD BEP20, USD Tether TRC20/BEP20, credit card, Perfect Money, and Fasapay.

For Deposits:

For deposits, clients can choose from options such as bank transfer, QRIS, internet banking, virtual accounts, and various cryptocurrencies like BIDR BEP20, BUSD BEP20, and USD Tether TRC20/BEP20. For different ways, minimum amount and fees vary. For example, through Internet Banking, $10 of minimum amount is required. More details can be learned by clicking: https://www.firewoodfx.com/trading/deposit.

For Withdrawals:

Withdrawals from FirewoodFX accounts are also straightforward, with options including bank transfer, internet banking, and cryptocurrency withdrawals like BIDR BEP20, BUSD BEP20, and USD Tether TRC20/BEP20. Withdrawals are typically processed within 24 to 48 hours, depending on the chosen method. Similarly, for different ways, minimum amount and fees vary. For example, through Internet Banking, IDR 50,000 of minimum amount is required. More details can be learned by clicking: https://www.firewoodfx.com/trading/deposit.

Customer Service

Customers can visit their office or get in touch with customer service line using the information provided below:

Telephone: +442036083558

Email: support@firewoodfx.com

Address: Suite 305, Griffith Corporate Centre, Beachmont. St. Vincent and the Grenadines

FirewoodFX offers online messaging as part of their trading platform. This allows traders to communicate with customer support or other traders directly through the platform. Online messaging can be a convenient way to get real-time assistance or to engage in discussions with fellow traders.

Conclusion

In conclusion, FirewoodFX offers a range of products and services, catering to traders seeking diversification in their investment portfolios. However, it operates without regulatory oversight, which poses inherent risks for traders. While the platform provides competitive leverage and a user-friendly MT4 trading platform, the absence of regulation raises concerns about the safety and reliability of the service.

Frequently Asked Questions (FAQs)

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.