ATFX offers Forex, Commodities, Cryptocurrencies, Indices and Shares with a wide range of CFDs for you to consider. This line up means they have a specific audience in mind, but that’s the case for pretty much every great broker we come across.
In our opinion, in their own way, ATFX are exactly that, thanks to being exceptional in a wide variety of areas, with low fees being a prime example. Their negatives are more often choices than mistakes, and if you want to get to the bottom of what else makes them stand out, check out the rest of our exclusive and extensive ATFX broker review 2020.
Pros & Cons of ATFX Broker
- Low fees
- Great selection of CFDs
- The world-renowned MT4 as a trading platform
- World-class customer service
- Product portfolio won’t be for everyone
We’ll be going into the details of security later. However, we can say from a design perspective, all of their credentials in this regard are both thorough and easy to find.
In terms of the design more generally, we’ll break this down into two different elements. The first is the website itself. We would say they generally explain themselves very well and rarely did we find ourselves struggling to find something we were looking for. It did happen every now and again, but nobody’s perfect. It’s a modern, bright, good looking site that is as easy to use as it is easy on the eye.
The platform they are utilising is MetaTrader 4. Many of you reading this ATFX Broker review 2020 will already be aware of just how good it is. It offers an immense amount of analytics, tools and charting. As far as cryptocurrency trading apps go, its reputation speaks for itself. You can even design your own trading indicators if you’re so inclined. There’s also a Demo mode if you want to get a bit of practise in. It has its critics but the success of the platform alone speaks for its quality.
ATFX also benefits from an excellent reputation amongst both customers and critics alike. We also couldn’t find any instances of security issues during our research. This, coupled with the many measures they take to protect users – which we’ll cover in more detail later in this ATFX broker review – proves this is a broker you can trust.
How To Trade
The first step to trading is opening an account and this is another part of our ATFX broker review where they excel in making things simple.
You’ll need to decide which trading account is right for you. We mentioned some of the options earlier in this ATFX broker review 2020. Which is right for you will depend on how much you’re planning on depositing and what you plan on doing with it.
You’ll then need to fill in a registration form with all the relevant details, including your name and contact details.
Verify your identity. You may need to provide photographic ID and proof of address/residence.
ATFX may also ask things about your financial situation, experience and knowledge, so they can help you achieve your financial goals. That’s the initial registration all done with. This shouldn’t take you longer than half an hour. Verification can take up to two days and you should receive confirmation via email.
You’re now ready to deposit funds. This is as simple as choosing which method is right for you, entering the relevant information and confirming.
At this point, you’ll be ready to begin trading. How this works is all based on its platform, MetaTrader 4. Obviously, there are books written about how to trade, which we have no chance of covering in detail in this ATFX broker review. However, the basics see you downloading your preferred version of MT4 and going to the order window to choose what you want to buy or sell. If you’re unfamiliar with the platform, do utilise the educational tools and customer service.
We had to mention payments earlier in this ATFX broker review 2020 due to their lack of fees. To go into further details, their deposit methods include credit card, debit card, e-wallet and bank transfer. Specifically, e-wallets include Neteller and Skrill.
Cards and e-wallets do have a speed advantage over bank transfer. They are generally processed within 30 minutes according to ATFX, while bank transfers are credited into your trading account within a single working day as soon as they receive the funds into their bank account. Vitally, there are three accepted currencies according to their site. These include Euros, Great British Pounds and the US Dollar.
In terms of withdrawals, the same methods and accepted currencies apply and there’s a suggested processing time of one day for each. However, this must be made before 2pm UK time and they state they’re not responsible for any delay. It’s really refreshing to have everything laid out so clearly for our ATFX broker review 2020.
One of the highlights of this ATFX broker review is the lack of fees. There’s no inactivity fees and no fees for withdrawing or depositing funds. There are, of course, minimum amounts but these are competitive – and considering we’re talking about a platform which has very clearly positioned itself at a rather serious, experienced corner of the market, we’d say their potential customer base will likely be very happy with the upfront costs.
Trading fees for CFD brokers are complicated but they appear to be very competitive throughout. We’ve seen a lot of comparisons to some of their key rivals in our research for this ATFX broker review 2020 and found them to look very good on a consistent basis. Plus, they have a terrific reputation in this regard. Some people may look at alternatives for different reasons but on this basis, ATFX are up there with the absolute cream of the financial crop.
Some elements of customer service have already been covered in earlier parts of our ATFX broker review 2020. Indeed, the way in which they explain themselves so well throughout the site is all part of customer service – especially as they do so in a variety of different languages, including Chinese, Spanish, Dutch, Portuguese, Indian and Italian. Even better, they have customer representatives available for customers across 13 countries, including several hotlines.
We couldn’t find times for each hotline, however, the two main options for customers in and out the UK are available Monday to Friday between 9am-5pm. They also offer 24/5 support through weekdays via email for a more permanent record of correspondence, and through live chat.
They are fast to respond – instant for many options, while something like email can take a few hours. They are also very helpful and knowledgeable, giving you serious answers for a serious platform.
In terms of licensing, security and all-around regulation, there can be little doubting the credentials of ATFX. They’re authorised and regulated in the UK by the Financial Conduct Authority. This will be the most relevant example to many of our readers. On top of that, they’re also authorised and regulated by the Cyprus Securities and Exchange Commission and the Financial Services Commission. In other words, they are entirely legitimate and must abide and operate by a strict set of standards and rules.
Reputation and Customer Feedback
Before we go into the conclusion of this ATFX broker review, we want to make clear that we don’t just base our opinions on our experiences alone. We also look at other people’s experiences and thoughts about them to see if our experience can be considered typical and what their general reputation is like.
We’re happy to say that for ATFX, it’s generally positive. No broker has everyone saying positive things in our experience, but the good certainly appears to outweigh the bad in terms of the opinions out there, from both a professional and a user perspective.
We’re happy to say that the other feedback we looked at largely matches up with our conclusion – and it’s a positive one. Whether or not ATFX is right for you comes down to whether their product portfolio suits your needs, and what level of input you’re willing to have. By no means are they solely focused on expert users. Their commitment to education on finances proves that’s not the case, but it’s also very much an active platform. If you know the basics of cryptocurrency mining software and cloud mining, for instance, you may be in the right place.
Those looking for a completely passive, beginner option may wish to look elsewhere. That said, if being involved in the decision making and the product portfolio does work for how you like to invest, then ATFX is a fantastic option. Our ATFX broker review found them to have great customer service, exceptionally low fees and a popular, tried-and-tested trading platform. No broker is right for everyone – the world of finance is simply too vast for that to be the case – but we think ATFX has a broad net of people that this could be absolutely perfect for.