Is ATFX Regulated? Is it safe? - TU Expert review
License is the most important document you have to consider when choosing a broker. Many traders, who would like to start working with ATFX try to check whether it is regulated. Traders Union experts have already done that. In this article, you will learn whether ATFX is regulated, what regulatory authorities supervise the broker and whether it is safe to work with the company in general.
Short summary about the broker ATFX
ATFX is a Forex and CFD broker and is a part of AT Global Markets, an international investment holding company. The company is licensed by the FCA (UK) 760555, CySEC (Cyprus) 285/15, FSC (Mauritius) C118023331, and FSA (Saint Vincent and the Grenadines) 333 LLC 2020. The broker offers beneficial trading conditions for active traders as well as passive investors. ATFX service quality has been recognized by the many awards the broker has received, including Fastest Growing Forex Broker in Europe in 2017, and a 2018 Best Forex CFD Broker award from UK Forex Awards.
💰 Account currency: | EUR, USD |
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🚀 Minimum deposit: | $250 |
⚖️ Leverage: | Up to 1:400 |
💱 Spread: | From 0.1-1.8 pips |
🔧 Instruments: | Currency pairs, cryptocurrency, CFDs on indices, stocks, and commodities |
💹 Margin Call / Stop Out: | Not specified |
Pros and cons of ATFX
👍 Advantages of trading with ATFX:
•Several licenses from international regulators.
•Beneficial trading conditions for professional traders and large investors.
•Possibility to invest in PAMM accounts and copy trades using the broker’s proprietary platform.
👎 Disadvantages of ATFX:
•No cent accounts.
•High minimum deposit on standard accounts.
•Bonuses are not available for all customers.
•Wide market spreads on Standard accounts.
•Limited choice of partnership programs.
Why is it important to work with a regulated broker?
License is a document that certifies that a broker operates legally and guarantees fulfillment of its obligations to the traders. A financial license is issued by a financial regulatory authority of a country (the National Bank) or a specialized authority (for example, Securities Commission, Futures Trading Commission, etc.). It is important to choose licensed brokers for the following reasons:
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A license guarantees that the broker operates in compliance with the rules of the financial regulator that issued the document.
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In order to obtain the license, a broker must comply with certain requirements, for example, the size of the authorized capital or personnel qualification. It is simply not lucrative for scammers to comply with such requirements.
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A broker’s license provides access to real markets, and you can be sure that the quotes are real and up-to-date.
The best option is to work with a broker that holds the license of the jurisdiction, where the trader resides. You can also choose a company with a financial license of another reliable jurisdiction, for example, the U.S. or the European Union.
Is ATFX Regulated? Broker’s license
Security (Protection for Investors)
ATFX is a part of AT Global Markets holding. Its daughter companies operate on four licenses: FCA (UK), CySEC (Cyprus), FSC (Mauritius), and FSA (Saint Vincent and the Grenadines).
Also, ATFX operates in compliance with ESMA (European Securities and Markets Authority) standards. The independent EU authority and regulators strictly control the operation of the broker and its stability, which guarantees the protection of funds for the retail traders.
👍 Advantages
- Customer funds are kept on separate bank accounts
- Negative balance protection
- The regulator settles disputes between the broker and its customers
👎 Disadvantages
- The regulators only consider claims involving large amounts
- Verification is a mandatory procedure
Brokerage fees
Broker’s regulation is the most important choice criterion. However, before you start working with the broker, it is also important to analyze its commissions and fees. TU analysts have studied the commissions and fees charged by ATFX, which you can see below.
Traders Union analysts have thoroughly reviewed ATFX trading conditions to uncover transparent and hidden commissions. The broker charges spread. If the amount of withdrawal to a debit/credit card or electronic wallet is less than USD/EUR 100, the customer will pay an additional USD/EUR 5 fee to the broker. For wire transfers, no fee is charged on withdrawals of over USD/EUR 1,000. The fees of electronic payment systems are not specified.
Account type | Spread (minimum value) | Withdrawal commission |
Standard 1:400 | from $18 | Charged in certain situations |
Standard 1:200 | from $18 | Charged in certain situations |
Standard 1:100 | from $18 | Charged in certain situations |
Standard 1:30 | from $10 | Charged in certain situations |
Edge | from $6 | Charged in certain situations |
Premium | from $1 | Charged in certain situations |
Edge (Professional) | from $6 | Charged in certain situations |
Premium (Professional) | from $1 | Charged in certain situations |
Professional | from $1 | Charged in certain situations |
Brokers that are similar to ATFX
Many brokers operate legally, obtaining relevant licenses and permissions. However, when choosing a broker, it is important to compare their trading conditions. TU experts have prepared a comparative analysis of ATFX conditions with its closest competitors.
Comparison of ATFX with other Brokers
ATFX | RoboForex | Pocket Option | Exness | FxPro | FxGlory | |
---|---|---|---|---|---|---|
Trading platform |
MT4 |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Pocket Option, MT5, MT4 |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MT4, MobileTrading, MT5, cTrader, FxPro Edge |
MT4, MobileTrading, MT5 |
Min deposit |
$500 |
$10 |
$5 |
$10 |
$100 |
$1 |
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
Trust management |
No |
No |
No |
No |
No |
No |
Accrual of % on the balance |
No |
No |
No |
No |
No |
8.00%% |
Spread |
From 0 points |
From 0 points |
From 1.2 point |
From 1 point |
From 0 points |
From 2 points |
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
Execution of orders |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Instant Execution, Market Execution |
No deposit bonus |
No |
No |
No |
No |
No |
No |
Cent accounts |
No |
Yes |
No |
No |
No |
No |
ATFX is a broker for professional traders, who are prepared to invest at least $5,000.
The minimum deposit in RoboForex is $10. Leverage up to 1:2000. Traders choose RoboForex for reliability, favorable trading conditions, minimum spreads, and commission fees. The company is recommended for beginner traders and experienced investors.
Pocket Option offers a wide range of trading instruments and copy trading services. It constantly improves its service quality and expands the list of assets and trading platforms. The broker is suitable even for novice traders without significant capital due to the low initial deposit. Experienced traders who work with CFDs and binary options can also use Pocket Option’s services.
Exness broker is a trusted broker partner that is compliant with all relevant terms. Exness complies with all payment obligations and pays money earned.
FxPro is a reliable broker company that offers market access to all traders, regardless of their level of knowledge and experience. Broker's clients are protected from negative balance; their activities are carried out in comfortable conditions and with competent professional support.
FxGlory is a universal broker for active trading that is likely to be interesting for European traders.
Conclusions
ATFX is a quite reliable broker for trading. ATFX operates on the license of a reliable jurisdiction and its operation is regularly monitored. However, the company does not offer the best trading conditions compared to competitors. You can choose this broker and not worry about the safety of your funds, but there are better options in terms of trading conditions.
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FAQ
How difficult is it to obtain a brokerage license?
The procedure for obtaining a license differs depending on the jurisdiction, but it is very difficult and expensive to get the document in a reliable jurisdiction. This is why only reliable brokers obtain licenses.
Why is it not recommended to work with offshore brokers?
Offshore brokers have to meet minimum requirements for obtaining a license and reporting, which is why often scammers get such licenses.
Can an offshore broker be reliable?
Yes, although there are not many of such brokers. There are brokers with a good reputation, but with an offshore license. You still need to be very cautious when working with such companies.
How do I check a broker’s reputation?
In order to check a broker’s reputation, you need to read user reviews. However, it is recommended to only use independent websites for that.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.