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EagleFX USA

Eagle FX is a web trading platform that hosts variety of popular asset classes like cryptocurrencies, forex pairs, stock exchange indices, and commodities. Once you’ve skilled the seamless account opening process and deposited funds, you’ll start trading immediately .

 

COMPANY PROFILE

  • Broker Name: EagleFX
  • Country Where Domiciled: Dominica
  • Year of Foundation: 2019
  • Broker Type: ECN/STP
  • Broker Status: Independent Broker
  • Segregated Account Funds? Yes
  • Fund Storage Method: Cryptocurrency cold storage with 100% hedging
  • Publicly Traded? No

Overall Rating

96%

Signup Bonus
98%
Very Good
Web Trading
97%
Very Good
Mobile Trading
89%
Very Good
Withdrawal Fees
99%
Very Good
Withdrawal Duration
96%
Very Good
Customer Support
94%
Very Good
Livechat
99%
Very Good

One of the primary things we noticed was that the Eagle FX trading framework utilizes Straight Through Processing (STP). this is often highly beneficial for online traders, because it means each and each trade is executed directly on the platform, instead of using the services of third-party dealers.

EagleFX  ACCOUNTS

  • More than one account type/tier? No
  • Base Account Currency Options: USD, GBP, EUR, BIT
  • Islamic Accounts Available? Yes
  • Free Demo Account Available? Yes
  • Expiration on Demo Accounts? Demo accounts expire after two weeks of non-use.
  • Active Trader/VIP Discounts? No
  • Corporate Accounts? Yes

This is fully complemented by a variety of technical analysis tools and indicators – all of which are facilitated via the industry-standard MetaTrader4 platform.

Trading Arena at Eagle FX

 

  • Proprietary Platform? No
  • Platform(s) Offered: MetaTrader 4
  • Mobile Trading Available? Yes, via Android & iOS apps
  • Web/Browser Trading Available? Yes, via WebTrader
  • cTrader Offered? No
  • Number of Charting Time-Periods 9
  • Number of Analytical Objects 23
  • Number of Technical Indicators 30
  • Trading Directly from Charts? Yes
  • Minimum Leverage 1:1
  • Maximum Leverage 1:500
  • Platform Trading Hours 24/7 Cryptocurrency Trading; Actual Market Hours for All Other Assets
  • Trading Platform Time Zone: GMT +2
  • Available Asset Types: Currencies, Cryptocurrencies, Commodities, Indices, Futures, Stocks
  • Number of Available Assets: 209
  • Number of Currency Pairs: 53
  • Number of Cryptocurrencies: 31
  • Number of Stocks: 0
  • Number of Commodities: 6
  • Number of Indices: 11
  • Number of Futures: 1
  • Number of Energies: 3
  • Smallest Allowed Trade Size: 0.01 Lot
  • Largest Allowed Trade Size: 1,000 Lots
  • Margin Call Percentage: 100%
  • Stop Out Percentage: 70%
  • Scalping Allowed? Yes
  • News Trading Allowed? Yes
  • Hedging Allowed? Yes
  • Use of EAs/Automated Trading Allowed? Yes
  • Pending Orders? Yes
  • Trailing Stops? Yes
  • Decimal Pricing Digits: 5-Digit
  • OCO Orders Allowed? Yes
  • One-Click Execution? Yes
  • Swap-Free Accounts? Islamic Accounts Only
  • Interest On Unused Margin? No
  • Trade Processing Type: STP
  • Number of Liquidity Providers: 5+
  • Dealing Desk? No
  • Number of Live Trading Accounts Allowed: No limit

In terms of testing out the Eagle FX trading platform, we initially decided to utilize the demo account feature. In doing so, we had access to the whole Eagle FX trading arena in USD, GBP, EUR, and BTC. this is often hugely beneficial if you would like to urge a pity how Eagle FX operates before depositing real money.

SPREADS, FEES & COMMISSION

  • Spread Type: Variable
  • Average Spread: 0.3 pips
  • Lowest Spread on EUR/USD Pair: 0.1 pips
  • Commission Charge? $6 Round Turn ($3 In/$3 Out)
  • Commission Rate: $4 Per Lot
  • Are Swap/Rollover Fees Charged? Yes
  • Account Inactivity Fees? No

If you’ve used the traditional MetaTrader4 platform before, then you’ll be pleased to understand everything remains constant at Eagle FX. Before we began placing trades, we decided to form some adjustments to the most dashboard.

We initially changed the candlestick bars from the default black/white to red/green then adjusted the pricing time-frame. you’ve got the choice of viewing statistics on a minute-by-minute basis, up to month-by-month.

Next, we then explored what technical indicators we had at our disposal. We found the overwhelming majority of indicators by simply clicking on the ‘Insert Indicators’ button at the highest of the screen. This included Bollinger Bands, Moving Averages, Parabolic SARs, Standard Deviations, and even the Ichimoku Kinko Hyo. As such, highly experienced technical traders are fully catered for.

Executing Trades at Eagle FX

In terms of finding your preferred financial instrument, you’ll do that by scrolling down the list of assets on the left-hand side of the trading screen, or by simply checking out it within the search box.

Once you’ve found your asset and clicked on the respective buy/sell button, you then have variety of options to completely customize your preferred order. This includes stop loss and take profit orders, also as pending orders like buy and sell limits, and buy and sell stops.

When we had set-up our trading parameters and placed our order, the trade was executed immediately. This falls in-line with the platform’s decision to utilize Straight Through Processing, meaning that there’s no requirement to use external dealing desks. Moreover, there have been no concerns regarding pricing manipulation, because the platform doesn’t engage in re-quoting.

We also had the choice of implementing leverage into our trades, which is right if you’ve got a high tolerance for risk. This ranges from 1:100 (cryptocurrencies), 1:200 (energies and indices), and 1:500 (metals and forex).

Upon exploring the Eagle FX order process in additional detail, we found that the platform is partnered with a plethora of monetary entities, subsequently ensuring that sufficient levels of liquidity are available in the least times. In fact, the platform has Tier One liquidity provided by the likes of Barclays Bank and Deutsche Bank.

What are you able to Trade at Eagle FX?

We found that the Eagle FX platform may be a bit thin on the bottom when it involves the amount of tradable financial instruments available – a minimum of as compared to more main-stream forex and CFD brokers.

Nevertheless, Eagle FX lists within the region of 200 instruments, across four main asset classes. Over within the cryptocurrency department, traders can purchase and sell variety of crypto-to-fiat pairs and crypto-cross pairs.

Forex traders are fully catered for, with a full range of major, minor and exotic pairs hosted at Eagle FX. We also found 11 stock exchange indices, also as commodities like gold and oil.

As is standard with all forex and CFD instruments, you’ve got the choice of going both long and short on your trades. intrinsically – you’ve got the prospect to form gains, even when the cryptocurrency markets are down.

How are you able to Fund Your Account?

Once we had tested out the demo platform, we then spent a while exploring the payments department. you’ll find the ‘Make a Deposit’ button within your main account portal. Once you click it, you’ll tend the choice of depositing funds with Bitcoin, Visa/MasterCard, or via a standard wire transfer.

Although there have been no deposit fees to deal with , we were advised that it can take up to six hours for the funds to be credited. because the Eagle FX platform also claims to facilitate super-fast withdrawals, we explored what the method was like. We got the choice of cashing bent our private Bitcoin wallet, Coinbase wallet (for the aim of then withdrawing to a bank account), or via a Prepaid MasterCard.

Once we had executed our withdrawal request to our Coinbase wallet, we were advised that the payments team process cashouts every hour. faithful their word, we received our funds back in only over an hour, which may be a major plus-point for traders seeking fast withdrawals.

As a final note, the minimum deposit and withdrawal amount is that the equivalent of 10 USD/EUR/GBP.

What is Customer Support Like?

In the final a part of our Eagle FX review, we sought to explore the extent of customer support provided. the great news is that the customer support team works on a 24/7 basis, so regardless of where you’re based, you’ll have access to support round the clock. This includes a live chat facility, telephone hotline, and email.

When we tested the live chat facility out for ourselves, we were pleased to ascertain that we were connected to a live agent immediately . We were also pleased with the concise response we received on our query – which was directly associated with account deposits and withdrawals.

 

DEPOSITS & WITHDRAWALS

  • Accepted Methods of Deposit: Credit/Debit, Bitcoin, Bank Wire
  • Lowest Accepted Deposit: 10 USD/EUR/GBP (BIT equivalent)
  • Maximum Deposit Amount: Bitcoin – Unlimited, Wire Transfer – Unlimited, Credit/Debit – $5,000 Per
  • Transaction w/ Limit of 3 Deposits Daily, 30 Max Per Month
  • Withdrawal Methods Available: Bitcoin, Credit/Debit
  • Minimum Withdrawal Amount: $0 ($100 Wire Transfer)
  • Average Withdrawal Processing Time: 12 to 48 Hours
  • Deposit Bonuses Offered? No
  • Re-Deposit Bonuses Offered? No

CUSTOMER SERVICE

  • Customer Service Hours: 24/7
  • Telephone Support? Yes
  • Live Chat Support? Yes
  • Email Support? Yes
  • Available Support Languages: English
  • SMS Support? No

Dedicated Account Managers? No

ADDITIONAL INFORMATION

 

  • VPS Provided? No
  • Social Trading Available? No
  • Trading Contests? No
  • API Solutions? No
  • MAM/PAMM Accounts for Managers? No
  • Managed Account Services Available? No
  • Daily Market Commentary? No
  • Economic Calendar? No
  • Training Materials Provided? No
  • Trading Signals? No
  • Monthly Activity Report Emails? Yes
  • Daily Activity Report Emails? Yes

Conclusion

In summary, our end-to-end review of Eagle FX was largely positive. We found the trading arena itself highly comprehensive, with the MetaTrader4 platform providing us with all of the required technical charting tools we required. We also liked the very fact that Eagle FX is familiar with Tier One liquidity from major financial institutions like Barclays and Deutsche Bank. This ensures that traders of all shapes and sizes are catered for, which again, is fully backed by Straight Through Processing (STP).

While the platform hosts a somewhat low 200 financial instruments across four main asset classes, it’s important to recollect that Eagle FX remains relatively new within the forex and CFD space. In fact, if you’re looking to specialize purely in crypto trading, you’ve got access to 31 digital currency assets, including both fiat-to-crypto and crypto-cross pairs.

Ultimately, with leverage of up to 1:500 available, fast withdrawals and 24/7 customer support across live chat, phone and email – Eagle FX is well worth considering if you’re on the look-out for a replacement broker.

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