EagleFX is a forex and CFD broker allegedly based in Dominica. It does not offer tiered accounts, but supports the good old MetaTrader4.
|#||Broker's Features||EAGLEFX Availability|
|#||Accepts US traders||❌|
|#||24 hour trading||✔|
|#||Trading by phone||❌|
|#||1st deposit bonus||❌|
|#||Forex contests competitions||❌|
|#||Interest charges on the balance||❌|
|#||24 hour support||✔|
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review EagleFX.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. EagleFX offers Online Financial Trading and Investment Services Such as FX Majors, FX Crosses, FX Exotics, Cryptocurrencycurrencie.
Tradable Products: As regards the broker’s product portfolio, it covers different asset classes, including indices, commodities, precious metals and some of the most popular cryptocurrencies (BTC, LTC, ETH, and more).
Broker Type: Many types of brokers can be found in the most dynamic market in the world. EagleFX is ECN, STP.
EagleFX allows you to execute a minimum trade of 0.01. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As EagleFX offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.
Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. EagleFX recommended minimum capital is $10.
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. EagleFX is regulated by Not regulated. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Investor Protection & Regulations: The brokerage brand is allegedly owned and operated by EagleFX Ltd., a company presumably based and registered in the Commonwealth of Dominica. Brokerages operating out of Dominica are bound by certain international banking regulations, however, forex businesses are not regulated at this time.
Account currencies: Next lets consider the Account currencies each broker offers. EagleFX offers USD, EUR, GBP, BIT different account currencies for each account types.
EagleFX offers a demo account for practicing trading skills and get familiar with the broker’s trading platform.
Languages Available: Next lets have a look at each broker's different Language options. EagleFX offers English.
Payment methods: Next lets have a look at each broker's payment options. EagleFX offers Credit/Debit Cards, Bitcoin, Bank Wire different payment methods for each account types.
At EagleFX Withdrawals can be made through credit and debit cards, bank wires and e-wallets. The broker charges no fees for transactions.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, EagleFX makes MT4 available to clients.
While we listed a couple of potential benefits of EagleFX, that was only for the sake of unbiasedness. In our view this is one of the many unregulated brokers out there that is most likely involved in some sort of investment fraud, especially considering its association with outright scam Options Tech Limited.
The broker EagleFX does not have a legit license to operate on regulated markets like the US, the European Union, Australia or Japan, so basically if it targets customers on those markets, they are doing this illegally.