According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $10
- WebTrader
- MetaTrader4
- 2013
Our Evaluation of EagleFX
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
EagleFX is a moderate-risk broker with the TU Overall Score of 5.7 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by EagleFX clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
EagleFX is a broker for active traders who trade Forex assets. Experience in trading is optional, the company is ready to cooperate with both professionals and beginners.
Brief Look at EagleFX
EagleFX assists traders in trading on the Forex market. The company is registered in the Dominican Republic and provides financial services to traders from all over the world. EagleFX offers clients the following instruments: stocks, currency pairs, cryptocurrencies, commodities, and indices. Trading using the service of copying transactions, automated programs, and PAMM accounts is not provided. EagleFX received three awards in 2020 for “FX Broker With Best Withdrawal Options”, “Best ECN/STP Broker” and “Best Forex Broker”.
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- Registration with the site and opening an account take only a few minutes.
- The demo account is free and available to traders for an unlimited amount of time.
- You can contact support at any time of the day, any day of the week.
- The STP technology is used for fast order execution.
- You can trade using PCs, tablets, and mobile devices.
- To protect clients’ funds, the broker uses a cold storage method.
- There are no passive income programs.
- There are no educational articles, videos, or courses on the broker’s website.
TU Expert Advice
Financial expert and analyst at Traders Union
EagleFX is a Forex broker that provides its services to novice and experienced traders. The company aims to cooperate with active traders; consequently, there are no programs for passive earnings. The exception is the availability of a multilevel referral program. To start trading, the user only needs to make a deposit of $10 if the transaction is carried out via Bitcoin, or $50 if depositing funds in another way.
The company uses ECN and STP technologies. Thanks to them, the traders receive instant order execution without slippage. They also trade with minimal spread indicators. This method of execution provides traders with a variety of trading strategies, including scalpers, to trade with EagleFX. Bitcoin cold storage is responsible for storing clients’ capital, that is, funds are not stored on the company’s servers and are protected from hacking by fraudsters.
It should be noted, however, that the activities of the EagleFX broker are not regulated by any authority. There is no cooperation with compensation funds that can compensate traders for their loss if EagleFX becomes insolvent.
- You are seeking to trade with high leverage, low commission, and prefer not to provide your personal data by going through the Know Your Customer (KYC) process.
- You want the flexibility to deposit and withdraw using Bitcoin and other cryptocurrencies.
- You are looking for passive income programs or comprehensive educational resources such as articles, videos, or courses on the broker's website.
EagleFX Trading Conditions
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| 💻 Trading platform: | MetaTrader 4 for Windows, Android, WebTrader |
|---|---|
| 📊 Accounts: | Real, demo-account |
| 💰 Account currency: | USD, BTC, GBP, and EUR |
| 💵 Deposit / Withdrawal: | Bank transfers, Instacoins, Bitcoin |
| 🚀 Minimum deposit: | 10 USD |
| ⚖️ Leverage: | 1:500 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 EUR/USD spread: | floating |
| 🔧 Instruments: | Fiat currency, cryptocurrency, indices, commodities, shares |
| 💹 Margin Call / Stop Out: | 100% and 70%, respectively |
| 🏛 Liquidity provider: | No information |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | STP, ECN |
| ⭐ Trading features: | WebTrader; Guides; Affiliate program. |
| 🎁 Contests and bonuses: | No, except for the affiliate program and the Traders Union bonuses program |
EagleFX clients have access to a variety of Forex instruments, including currency pairs, stocks, indices, and commodities. The company offers two trading accounts: real and virtual. There are no Islamic accounts. You can open a real account in one of four currencies. The maximum leverage is 1:500, the spread is floating and depends on the instrument being traded. The high speed of order execution is guaranteed by the use of STP by the broker, so the broker’s services are suitable for clients who prefer scalping. Hedging and news trading are also permitted. Trading may be carried out both from a personal computer and from mobile devices. To start trading, it is enough to deposit $10 or more (when funding your account via Bitcoin).
EagleFX Key Parameters Evaluation
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Trading Account Opening
You can start trading with EagleFX only after opening a live trading account with the company. This can be done by following the instructions below:
To register with EagleFX and open a new account, a trader just needs to go to the main page of the broker’s official website, and then fill out a short form with personal data. You should enter your name, surname, email address and come up with a password to enter. You can also register using your Google or Facebook accounts.
The next step is verification using a mobile phone. You need to use your country code and confirmation method (SMS). If necessary, you can skip this step and return to it later.
You then need to go to your personal account, where you can change your personal data and use other functions.
In the EagleFX personal account, you can:
Also in the personal account, the trader has access to:
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Trading platforms including PC, Android versions, and the WebTrader browser version.
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Tracking your transactions in the “Transaction History” section.
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Editing personal information, enabling two-factor authentication to protect your account from hackers.
Regulation and safety
To protect the capital of traders, EagleFX uses the Bitcoin cold storage method. This means that most of the funds are located in an external device protected from hacking, while the broker’s server contains only the amount necessary to process the withdrawal requests.
EagleFX also provides reliable protection of confidential data. So, each client of the company is obliged to activate two-factor authentication, to avoid hacking his account by third parties. When withdrawing funds, the broker also processes client data to ensure that the amount will be transferred to the correct address.
Advantages
- Client funds are in cold storage of bitcoins
- Client capital is hedged on world exchanges
- EagleFX uses two-factor authentication to protect client accounts
Disadvantages
- Broker activities are not regulated
- EagleFX does not partner with compensation funds
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Real | from $19 | No |
It charges a swap commission for the transfer of transactions to the next trading day. There are no Islamic accounts at EagleFX.
The Traders Union also compared the indicators of trading commissions in EagleFX with those of its competing companies such as RoboForex and FXPro. As a result of the comparison, each of the brokers was assigned a trading fee level. You can see the comparative results in the table below.
| Broker | Average commission | Level |
|---|---|---|
|
$19 | |
|
$1 | |
|
$8.5 |
Account types
EagleFX has only one type of trading account - a real one. Residents of any country can open an account. Trading conditions and tools are the same for all users.
Account types:
Traders can check the trading conditions of the EagleFX, practice trading, test new trading strategies on a virtual demo account, access to which remains forever.
The EagleFX broker is suitable for beginners and professional traders who prefer active trading.
Deposit and withdrawal
EagleFX received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
EagleFX offers limited payment options and accessibility, which may impact its competitiveness.
- Fast processing times
- Withdrawal fee applies
- Limited deposit and withdrawal flexibility, leading to higher costs
- BTC payments not accepted
What are EagleFX deposit and withdrawal options?
EagleFX offers a limited selection of deposit and withdrawal methods, including . This limitation may restrict flexibility for users, making EagleFX less competitive for those seeking diverse payment options.
EagleFX Deposit and Withdrawal Methods vs Competitors
| EagleFX | Plus500 | Pepperstone | |
| Bank Wire | No | Yes | Yes |
| Bank card | No | Yes | Yes |
| PayPal | No | Yes | Yes |
| Wise | No | No | No |
| BTC | No | No | No |
What are EagleFX's minimum deposit and withdrawal amounts?
The minimum deposit on EagleFX is $, while the minimum withdrawal amount is $. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact EagleFX’s support team.
Markets and tradable assets
EagleFX offers a limited selection of trading assets compared to the market average. The platform supports 0 assets in total, including 0 Forex pairs.
- Multiple markets
- Copy trading not available
- Limited asset selection
Supported markets vs top competitors
We have compared the range of assets and markets supported by EagleFX with its competitors, making it easier for you to find the perfect fit.
| EagleFX | Plus500 | Pepperstone | |
| Currency pairs | 60 | 90 | |
| Total tradable assets | 2800 | 1200 | |
| Stocks | Yes | Yes | |
| Commodity futures | Yes | Yes | |
| Crypto | Yes | Yes | |
| Stock indices | Yes | Yes | |
| Options | Yes | No |
Investment options
We also explored the trading assets and products EagleFX offers for beginner traders and investors who prefer not to engage in active trading.
| EagleFX | Plus500 | Pepperstone | |
| Bonds | No | No | |
| ETFs | Yes | Yes | |
| Copy trading | No | Yes | |
| PAMM investing | No | Yes | |
| Managed accounts | No | No |
Customer support
EagleFX broker makes sure that traders always have the opportunity to solve their problems as quickly as possible. Therefore, the broker’s support service works around the clock every day, seven days a week.
Advantages
- A trader can choose a convenient way to communicate with the company’s employees
- There is a callback function
- Support service is available 24/7
Disadvantages
- The average waiting time for a callback is 4 hours
- The broker has no offline offices
This broker provides the following communication channels for its clients:
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write a message to live-chat on the company’s website;
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send a message to the broker’s email;
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order a callback function.
To receive a response from the support service, a trader does not need to open a trading account with the company. Communication channels are also available for site visitors who are not registered with EagleFX.
Contacts
| Foundation date | 2013 |
|---|---|
| Registration address | EagleFX Ltd, 8 Copthall, Roseau Valley 00152, The Commonwealth of Dominica |
| Official site | https://www.eaglefx.com/ |
| Contacts |
Education
EagleFX offers comfortable trading conditions for traders with different levels of professionalism. However, there are no materials for training traders and developing their professionalism on the website. The broker only provides a section with trading guides.
The EagleFX broker provides its clients with the opportunity to use a free demo account to test their knowledge and test new trading strategies.
Comparison of EagleFX with other Brokers
| EagleFX | Eightcap | XM Group | RoboForex | TeleTrade | AMarkets | |
| Trading platform |
MetaTrader4, WebTrader, Mobile | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | MT4, MT5 | MT4, MT5, AMarkets App |
| Min deposit | $10 | $100 | $5 | $10 | $10 | $100 |
| Leverage |
From 1:1 to 1:500 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:3000 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | 10.00% | 1.00% | No |
| Spread | From 0.7 points | From 0 points | From 0.8 points | From 0 points | From 0.2 points | From 0 points |
| Level of margin call / stop out |
100% / 70% | 80% / 50% | 100% / 50% | 60% / 40% | 70% / 20% | 50% / 20% |
| Order Execution | Market Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | No | No | Yes | Yes | No |
Detailed Review of EagleFX
EagleFX is a company that aims to cooperate with active traders and provides optimal trading conditions for both newcomers to the Forex market and professionals. The broker is also suitable for traders who are engaged in scalping, hedging, and trading on the news. The high speed applies not only to the execution of trades but also to deposits, withdrawals, and communications with the EagleFX support team.
EagleFX by the numbers:
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Opening a trading account takes no more than 5 minutes.
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The minimum deposit is $10.
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A trader can open an account in one of 4 currencies.
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The maximum leverage is 1:500.
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The maximum time for crediting funds is 6 hours.
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The response speed of the support service in the online chat is 1 second.
EagleFX is a broker for active trading on the Forex market
The EagleFX broker offers STP and ECN technologies, which guarantee the high speed of order execution. STP operates in the absence of intermediaries between the trader and liquidity providers and, therefore, there are no slippages, requotes, or price changes during the trading process. ECN technology allows you to trade with minimal spreads. In EagleFX, the level of spreads is floating, and the indicators depend on the specific trading asset, as well as several other factors that affect the formation of prices.
For trading, EagleFX provides its clients with access to the platform familiar to Forex traders - MetaTrader 4. The terminal can be installed on a personal computer with a Windows operating system, as well as on Android devices. To trade without installing additional applications, a trader can use the WebTrader platform. EagleFX clients also have access to mobile trading.
Useful services of EagleFX:
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News. In this section, you will find the information that can be useful to traders when working or promoting a broker (for members of the affiliate program).
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Guides. Here are detailed MT4 trading guides for different devices.
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FAQs. This section contains answers to questions that are most frequently asked traders before starting to work with a broker. The answers are divided into categories: deposits, withdrawals, accounts, affiliate program, MT4, trading, and general questions.
Advantages:
The demo account has no time limits, and the trader can use it as long as he sees fit.
The broker offers multiple ways to contact support.
There are no non-trading commissions.
EagleFX offers a tiered affiliate program.
MetaTrader 4 is used as a trading platform.
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