<a href="https://www.eaglefx.com" rel="noopener noreferrer" target="_blank">EagleFX</a> stands as a global forex and CFD broker, offering trading opportunities through the renowned MT4 platform. Their asset portfolio includes currencies, commodities, stocks, indices, and cryptocurrencies. In this comprehensive EagleFX review, we'll delve into the registration and verification procedures, spreads and commissions, minimum deposit requirements, platform features, and more. This evaluation aims to determine whether EagleFX is a reliable choice or potentially problematic. <img src="https://cdn.forexoverflow.io/images/1694671051710-6hppj556h21p1nr-eagle-fx.png"> <h2>Assets &amp; Markets </h2> EagleFX provides access to over 100 financial instruments, though this may not be the most extensive selection compared to other options. Clients can engage in speculating on various global markets, including: <ul><li>Futures: Such as US Dollar futures</li><li>Stocks: With over 70 company stocks available, including Amazon, Tesla, and Goldman Sachs</li><li>Indices: Featuring 10 stock indices like the FTSE100, S&amp;P500, and NAS100</li><li>Commodities: A selection of commodities like gold, silver, and oil</li><li>Forex: Speculating on over 50 major, minor, and exotic currency pairs, including GBP/USD, EUR/GBP, and USD/CAD</li><li>Cryptocurrency: Taking positions in 35+ digital currencies, including Bitcoin (BTC), Ripple (XRP), and Ethereum (ETH)</li></ul> <h2>Fees &amp; Spreads </h2> EagleFX offers competitive variable spreads, starting as low as 0.1 pips. During our evaluation, we observed typical spreads of 0.7 pips for the EUR/USD currency pair and 1.1 points for NASDAQ. However, it's important to note that market volatility can significantly impact these spreads, with price quotes updated every 10 seconds on the platform.Commissions are also applicable across all trading instruments, set at $6 per lot round turn. In comparison with other brokers like XM ($7), HugosWay ($10), and OANDA ($5), EagleFX's trading conditions fall within the middle ground. Additionally, overnight swap charges are a consideration, although there are no inactivity fees for dormant accounts. <h2>Account Types </h2> EagleFX simplifies its offerings by providing a single standard account for all clients, featuring a low minimum deposit requirement of just $10. The minimum lot size is 0.01, while the maximum trade size extends up to 1,000 lots. While this approach suits many traders, those seeking specialized account types with lower fees or cash rebates in exchange for higher deposits and trading volumes may find the lack of options limiting. <h2>Opening a Live EagleFX Account </h2> Creating a new account with EagleFX is a swift and straightforward process. Registration can be completed using an online form, with email address and phone number confirmation. Notably, there's no Know Your Customer (KYC) verification process, eliminating the need for document submission. Once the registration is complete, users can sign in to the member's area and commence online trading. <h2>Payment Methods Deposits: </h2> EagleFX offers three payment options for deposits: bank wire transfer, credit/debit cards (Visa and Mastercard), and Bitcoin. The minimum deposit varies, with $10 for Bitcoin and $50 for cards or bank transfers. Importantly, EagleFX does not apply deposit or withdrawal fees for any payment methods, although third-party charges may still apply. <h2>Withdrawals: </h2> At the withdrawal stage, EagleFX does not offer wire transfer as an option. Instead, withdrawals can be made through PayPal, credit/debit cards, or Bitcoin. Withdrawal processing times are relatively swift, with requests typically reviewed within 30 minutes. The actual time to receive funds may vary due to factors such as public holidays and Bitcoin network confirmation times. The minimum withdrawal amount via Bitcoin is $10, with no maximum withdrawal limit. <h2>EagleFX Platform </h2> EagleFX exclusively offers the MetaTrader 4 (MT4) trading terminal. This platform is available as a desktop download or can be accessed directly through major web browsers like Internet Explorer or Google Chrome. Our experience with EagleFX's trading terminal revealed its intuitiveness and suitability for investors of all experience levels. It allows for fully customizable dashboards, interactive charting, technical analysis tools, and one-click order execution. Notable features include:<ul><li>Nine timeframes</li><li>Multilingual interface</li><li>Fully customizable charts</li><li>Four pending order types</li><li>One-click order execution</li><li>Three order execution types</li><li>MQL4 programming language</li><li>Over 30 built-in technical indicators</li><li>Direct access to Expert Advisors and automated trading systems</li></ul> <h2>Mobile App </h2> EagleFX provides a mobile application for both iOS and Android (APK) devices, available for free download from the Apple App Store or Google Play. The mobile app offers a comprehensive range of analytical features, including real-time quotes and the ability to trade directly from charts. The mobile interface is user-friendly and visually appealing, seamlessly integrating with the desktop solution for on-the-go order placement and trade management. However, advanced graph analysis may be somewhat challenging on smaller screens, and performance may vary depending on your mobile or tablet device. <h2>Leverage </h2> EagleFX offers high leverage, with maximum levels varying by asset type:<ul><li>Forex: Up to 1:500</li><li>Stocks: Up to 1:20</li><li>Indices: Up to 1:200</li><li>Energies: Up to 1:200</li><li>Cryptocurrency: Up to 1:100</li><li>Precious Metals: Up to 1:500</li></ul>It's crucial for new users to comprehend the implications of leveraged trading, as it can enhance profit potential but also amplify losses. <h2>Regulation </h2> EagleFX operates as an unregulated broker based in the Dominican Republic. It's important to note that unlicensed providers typically offer limited client protection. However, EagleFX takes steps to secure client funds by utilizing Bitcoin Cold Storage. This method safeguards customer funds by storing them on an external device, away from the broker's web server and potential hackers. Additionally, residents of the United States are not allowed to trade on the platform. <h2>Demo Account </h2> EagleFX offers a free demo account with unlimited usage. Traders can specify their preferred leverage and virtual fund limit within the MT4 simulation. A demo account is invaluable for both new and experienced traders. It allows newcomers to execute risk-free trades, while experienced traders can use it to refine strategies or test new products. This becomes particularly relevant when dealing with unregulated brokers like EagleFX, as it enables prospective traders to assess the company's legitimacy and trustworthiness. <h2>Deals &amp; Promotions </h2> EagleFX does not currently provide financial incentives or promotions to new or existing clients, including no deposit bonus offers or welcome promotions. As an offshore broker, such offers may emerge in the future due to the absence of stringent regulatory oversight. Interested users should monitor the broker's website and member's area for potential upcoming promotions. Nevertheless, it's essential to scrutinize the terms and conditions of any bonuses, as they often entail strict withdrawal or volume requirements. <h2>Customer Support </h2> EagleFX offers dependable customer service via a 24/7 live chat system. Alternatively, users can submit support tickets through the website, typically receiving responses within 15 minutes. For those who prefer phone communication, a call-back request option is available within four hours. The broker's office is situated at 8 Copthall, Roseau Valley 00152, Commonwealth of Dominica. <h2>Company Background </h2> EagleFX Ltd was founded in 2019, with its headquarters based in the Dominican Republic. The online broker serves thousands of traders across 188 countries, including Indonesia and Nigeria. Additionally, the company has garnered recognition in prominent publications like Forbes and Finance Magnates. <h2>Security &amp; Safety </h2> While EagleFX provides limited information regarding trading security and safety, it does not offer negative balance protection, which can be a significant disadvantage compared to competitors. However, the MT4 platform adheres to the highest security standards, ensuring encrypted data exchange between servers. The terminal also supports digital signatures and offers two-factor authentication (2FA) at the login page. It's vital to exercise caution when trading with unregulated brokers and remain vigilant against potential scams. <h2>Trading Hours </h2> Forex markets operate 24/5, while crypto markets remain open 24/7. Specific trading sessions for individual assets can be found under 'specifications' in the MT4 platform. All market hours are provided in GMT+3, and EagleFX offers a convenient time zone converter link in the FAQs for user reference. <h2>EagleFX Verdict </h2> EagleFX presents several appealing features, including a low minimum deposit, ECN/STP execution, the reliable MT4 platform, and swift withdrawal processes. However, the broker's lack of regulatory oversight and a limited range of instruments are significant drawbacks. For traders seeking greater peace of mind, numerous regulated brokers are available. <h2>Advantages of EagleFX</h2> <ul><li>Quick and easy registration process</li><li>Free and unlimited demo account</li><li>24/7 customer support</li><li>ECN/STP technology for fast order execution</li><li>Bitcoin funding option</li><li>Same-day withdrawals</li><li>High leverage up to 1:500</li><li>Reliable trading platform and mobile app (MT4)</li><li>Diverse investment options, including cryptocurrencies</li></ul> <h2>Disadvantages of EagleFX</h2> <ul><li>Absence of a copy trading platform</li><li>No negative balance protection</li><li>Limited educational resources and market research</li><li>Lack of passive income programs</li><li>Insufficient educational articles, videos, or courses on the broker's website.</li></ul> <h2>Broker Details</h2> <img src="https://cdn.forexoverflow.io/images/1694672100105-ej5v079hrhkuuby-eagle-fx-broker-details.png"> Disclaimer: - We at forexoverflow do not endorse neither refer anyone to trading broker websites. The information is for educational purpose and source of information is from the broker website.

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