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Is ATFX Scam or Legit?

If someone searches "atfx scam" on google or any other search engine, it can not find an answer or trusted information which is very strange for a broker. Unless you are just a call center focused on cold calling.

ATFX looks totally unknown all over the world, except for some limited popularity in Vietnam followed by Spain, Philippines, Taiwan and Thailand according to the number of brand searches (source: ahrefs.com). Overall, ATFX shows limited popularity and a global presence.

This does not mean ATFX is a scam, but there are a lot of question marks regarding their activity and presence.

ATFX Trading Conditions

ATFX offers 4 account types with variable spreads and the option to trade in Micro lots. In addition, PAMM accounts are also available at ATFX.

ATFX Professional Account

The professional account offers commission-free trading with leverage up to 1:400 and spreads from 0.6 pips. Users also get access to a free VPS, 1-on-1 session and quarterly catch-ups. The minimum deposit is 5,000 USD/EUR/GBP.

ATFX Premium Account

The premium account offers commission-based trading with spreads starting from 0 pips and leverage up to 1:30 with the regulated company and 1:500 with the offshore company. Users also get access to a free VPS, 1-on-1 session and quarterly catch-ups. The minimum deposit is 10,000 USD/EUR/GBP.

ATFX Edge Account

The edge account offers commission-free trading with leverage up to 1:30 and spreads from 0.6 pips. Users also get access to a free VPS and 1-on-1 session and quarterly catch-ups. The minimum deposit is 5,000 USD/EUR/GBP.

ATFX Standard Account

The standard account offers commission-free trading with leverage up to 1:30 and spreads from 1 pip but with a low minimum deposit of 500 USD/EUR/GBP.

MT4 supported, above-average spreads

With ATFX, the old and gold MetaTrader 4 is available in all forms and shapes: desktop download, web version, and mobile apps.

The MT4 has proved its reliability over the years and has earned the love of many forex traders due to its ease of use, customization options, great charting, and automated strategies (EAs). Unfortunately, there is no Meta Trader 5, the best trading platform in the world last year.

Furthermore, spreads starting from 1 pip on EUR/USD is just above the industry's average.

The broker offers trading in currency pairs, as well as various CFDs, including such on cryptocurrencies. Digital assets are very popular financial trading instruments nowadays, so this is definitely a strong side of ATFX. Currently, it offers Bitcoin, Ethereum, Litecoin, and Ripple.

The broker also provides access to a Forex Economic Calendar, not as advanced as forexfactory.

Market Maker model

Although ATFX claims to offer STP execution, in its Terms and Conditions it admits to acting as a principal to all trades, or as a Market Maker. The `shortest possible explanation of this is if you are trading with the market maker, you do not get direct access to the real decentralized forex market. Instead, the broker is sitting on the other side of the terminal, and pretty much trades against you.

Minimum deposit requirement a bit high

ATFX requires $500 from its clients in order to open a live trading account. Most brokers require something in the $100-$250 range as a start. However, there are some players, that have not set such a requirement. For example, you can start trading with AM Broker by investing just $100.

Payment Methods

ATFX Deposits

There are three main deposit methods available on ATFX: credit or debit cards, bank transfers, and e-wallets. E-wallets include Safecharge, Neteller, and Skrill. All three methods support deposits in EUR, USD, or GBP. There are no fees for any deposits charged by ATFX. In the case of debit or credit cards from outside the UK, your provider may charge a small processing fee. ATFX will reimburse you for this fee if you provide a receipt to prove the charges. Deposits made with credit cards, debit cards, or e-wallets typically appear within 30 minutes. Bank transfers will appear in your trading account within a working day after ATFX receives the funds.

ATFX Withdrawals

ATFX offers the same withdrawal methods as deposit methods: credit or debit card, e-wallet, or bank transfer. As with deposits, there are no fees charged by ATFX and you can withdraw in EUR, USD, or GBP. Most withdrawals are processed within a working day, but ATFX is not liable for delays. Most withdrawals request that ATFX receives before 2 p.m. (in the UK) get processed that day.

Following processing, funds will usually clear between 1 and 3 working days. International bank wires typically require 3 to 5 more working days to appear in your account, depending on the bank. Withdrawals via e-wallets will typically arrive within 2 days. Refunds to debit and credit cards typically finish processing in 2 to 5 days.

Remember that for compliance reasons, withdrawals must be returned to your original payment source. In the case of profits on trades from deposits made with a card, the extra funds will go to a bank account. You must also fully verify your ATFX account before you can withdraw funds.

Conclusions

ATFX is an international brokerage that offers its services on the ever-popular MetaTrader 4 platform.

Pros

• Solid regulation (FCA), part of an international group
• MT4 available, multiple CFDs supported
• Reasonable leverage levels offered
• Commission-free trading

Cons

• Market Maker model
• Initial deposit required a bit high
• No choice of trading platforms
• High spreads

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2) Executing Trades

ATFX Global Markets allows you to execute a minimum trade of 0.01. This may vary depending on the account you open. ATFX Global Markets allows you to execute a maximum trade of 30. As ATFX Global Markets offer STP execution, you can expect tighter spreads with more transparency over the price you're paying to execute your trades.

As a nice bonus, ATFX Global Markets are one of very few brokers that claim to have no requotes, so you don't have to worry about slippage (your trades being ordered at a different price to what you executed them at).

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

ATFX Global Markets also offers a number of useful risk management features, such as stop losses (with trailing stops), limit orders negative balance protection price alerts and much more. You can see all of the account features offered by ATFX Global Markets here.

Finally, we've listed some of the popular funding methods that ATFX Global Markets offers its traders below.