EagleFX Review – Fresh Perspectives
EagleFX is a newly founded online forex and cryptocurrency brokerage firm that offers functionality to its consumers. They are very transparent about the fact that they are based in the Dominican Republic, which means that they are not regulated because the Dominican Republic doesn’t have a national agency for such regulations. They serve traders all around the world, except the US market.
It’s fresh blood in the industry. In two short years, EalgeFX forex broker has established itself as a reputable and self-reliant company within the industry. Knowing that newcomers and old-timers alike are looking for new brokers for a fresh perspective, we will briefly bypass the main components and information about EagleFX.
The broker offers ultra-fast execution speed when it comes to trading, clientele data is never shared with third parties. So they won’t share the information about which liquidity providers they use unless one is planning to deposit a huge amount of capital. Only in this scenario, one can get the specified information.
EagleFX Features and Platforms
They like to exult about their fast execution and low spreads, which are constantly fluctuating. EagleFX brokerage firm has notable features that set them apart from others like deep liquidity and leverage of 1:500 for its forex traders. It’s noteworthy to mention that the broker offers different leverages for various assets.
- Forex – 1:500
- Metals – 1:500
- Indices – 1:200
- Energies – 1:200
- Cryptocurrencies – 1:100
They also have devoted round-the-clock customer service. This broker doesn’t charge withdrawal and deposit fees. You are allowed to make withdrawals while trades are still open. They don’t charge any inactivity fees. The minimum amount of capital for a deposit is ten dollars.
MetaTrader 4 is the trading platform. There are 2 types of EagleFX accounts, a demo and a live one. Unfortunately, they don’t offer a training program for MT4. They also give you the option of WebTrader.
Account Types: Demo and Live
The demo account is free of charge, unlimited, and unperishable. It can be used by the traders as often as they wish. If you forget the account details, you will need to make a new one. Both of the accounts can be opened in a variety of currencies, specifically in USD, GBP, EUR, and even BTC. This is a unique way to acquaint yourself with the platform and try out strategies beforehand.
Unlike other brokers, EagleFX has a simplistic approach, which means that they don’t differentiate between high and low-value traders. Every type of trader is offered the same service. Both live and demo accounts are filled with full-scale tools that are a necessity when it comes to trading.
The united states dollar is the base currency for both types of accounts, which if needed can be customized to fit sharia laws with no problem.
We can’t finish our EagleFX review without mentioning that for this firm the crypto market is open 24/7, as for the Forex market, it is open 24 hours a day, 5 days a week. You can use MT4 to get more details about the opening and closing times of the market.
As for additional information about the company, specifically the margin rules, it’s noteworthy to mention that at EagleFx margin calls are at a 100 percent margin level and the stop out is at 70 percent. As for the trading commission, it is at 6 dollars per lot trade which can be customized on lower deposits as well. For instance, if one’s initial trade capital is equivalent to 0.1 dollars, the trading commission would be 0.6 dollars.
While doing research it is highly important to know what the EagleFX reviews of the clientele of the company are like. Most of the reviews are positive and offer insider information about the company. They even have a page dedicated to such actions where they offer statistics on this very matter.