ATFX Review 2023 – Malaysia, Middle East Yes; UK/EU Institutional

 

BROKER	ATFX
MINIMUM DEPOSIT	$100
REGULATION	FCA, SVGFSA
TRADING ASSETS	FOREX, CFDs, STOCKS (CFDs), CRYPTO, COMMODITIES
OVERALL RATING	4.2
COSTS TO TRADE	4.7
TRADING PLATFORM	4.2
TRADING APP	4
PAYMENT METHODS	4
DEMO ACCOUNT	5
ACCOUNT TYPES	4.3
BONUS/OFFERS	N/A
CUSTOMER SUPPORT	4.5

Is ATFX Broker A Scam?

The first thing to look at in our ATFX broker review is the most important, let's quickly get to the bottom of if ATFX is a scam or not.

ATFX UK (incorporated in 2014) was originally a liquidity provider for large institutional clients and now has five-years plus as a broker specializing in forex and CFDs with offices in London and no major issues to be aware of.

ATFX is well regulated by the ‘Tier 1’ Financial Conduct Authority in the UK (FCA), Cyprus Securities and Exchange Commission (CySEC) and the Financial Instruments Directive (MIFID). There is also international regulation for ATFX in other jurisdictions.

ATFX Malaysia review users will be going through AT Global Markets which is regulated by Saint Vincent and the Grenadines (SVGFSA) with company number 333. Whilst this is not a local regulator, it is one that comes up often for brokers with international targeting but no one fixed user base.

It is safe to say that ATFX offers a very good overall forex and CFD proposition and is definitely not a scam but whether this is a broker you wish to consider is a choice only you can make.

With an easy to use platform and a low entry deposit level, this online forex broker effectively brings the market to you.

Latest ATFX Review 2022 brings some changes in supported Countries for retail FX traders

In 2022, there was an ATFX review and the broker decided to make some changes to their retail offering which has included which Countries and regions are going to be allowed to register with ATFX.

As mentioned above, the broker originally was formed focusing on institutional and non retail traders. It has decided to revert back to this model for Europe and not bring on board any new retail traders.

If you try to open a retail account from Europe at the moment you will get the above image.

Therefore any traders interested in ATFX UK or wider European based traders should start looking trade with some of the other brokers and trading platforms we have reviewed in detail here.

This is not seen as a problem as far as ATFX is concerned, with every broker and business having the right to adjust their support to regions that they feel they can deliver the best support. With the European market a lot more saturated with online brokers than certain other regions, and with ATFX already having a business in the institutional field here, it likely makes sense for them to adjust their offer in each territory in order to deliver the best user experience they can. We prefer this, than for the broker to continue to offer services but reduce the quality!

If you are a non European based trader, including areas that ATFX still focus on from a retail perspective such as UAE, Saudi Arabia, Qatar and the wider Middle East, you can continue to read here and trade with the broker should you wish.

One of the main areas focused on for ATFX is Malaysia, Indonesia, Hong Kong, Thailand, Vietnam, Korea, and Asia in general. The proposition of the retail offer is still competitive, so if you are in this region you can consider further.

Costs To Trade With ATFX

Spreads 
ATFX spreads will vary depending on the type of account you open but the standard conditions are largely very competitive (starting from 1 pip for EUR/USD). The very best conditions are offered via the ‘ATFX Edge Account’.

The ATFX Edge Account minimum deposit is $5000 to qualify and includes many other benefits (see ATFX Account Types for full information). The spreads when trading via Edge start from 0.6 pips which is very competitive when looked at within the total cost consideration.

Commissions
ATFX charge 0 commission per trade regardless of account type which has to be considered a massive advantage especially for those using a strategy that sees them making a decent volume of trades.

Other
Another plus here as ATFX do not charge for deposits or withdrawals and also do not charge for overnight rollover or swap as standard.

Cost Summary
ATFX review their costs relatively often and offers a highly competitive overall costs package regardless of the account type. If you are able to qualify for the Edge account you will be getting the very best of what they have to offer.

There is a little room for improvement with the offered spreads but if you are looking to keep your overall trading and funding costs down, ATFX must come into consideration.

ATFX Costs Rating - 4.7*

ATFX MT4 - Trading Platforms Review

All trading with ATFX is done via the ever-popular MT4 platform. If you have traded before, it is likely you will have come across the Metatrader 4 platform, which is considered the industry's most popular and powerful trading platform.

With ATFX MT4 trading platform you will find an extensive library of technical indicators, an advanced charting package with different timeframes and support for different types of orders, and automated trading by Expert Advisors. In addition, you can rely on robust security measures, as all data between server and client terminal is fully encrypted

ATFX trading platform of choice will support all device types and many different languages with a VPS service that will ensure you have no drops in connectivity (even if logged in all day) so it will be sufficient for the vast majority of users.

ATFX Product Offering

You will find a comprehensive trading offering of forex pairs, CFDs on indices, stocks aswell as commodities and cryptocurrencies.

The crypto offering with ATFX is currently limited to 4 (Bitcoin, Ethereum, Ripple and Litecoin) and they do not have real stocks available so if you are looking for anything more exotic unfortunately you will not find that here.

On the upside, as a UK regulated broker ATFX also offer Spread Betting to local users across a range of markets. Whilst the range of products on offer from ATFX UK is little a more specialised than some, what they do focus on they do very well.

Platform Summary
ATFX offer the MT4 platform which is familiar but the additional features which can be added free (including more than 30 pre-installed technical indicators and chart analysis tools) are a little extra to show ATFX are looking to deliver a better than average experience for their users.

As an STP broker, ATFX are able to provide users with the confidence in knowing their trades will be executed quickly and transparently. Despite the popularity of MT4, the breadth of platform offering with ATFX being limited to this single option seems a little small then compared to other brokers who offer multiple options or custom platforms. It must be said however that unless you are an avid CTrader or MT5 user then the ATFX MT4 platform should not disappoint.

ATFX Platform Rating - 4.2*

ATFX App Review

iOS and Android trading is done with ATFX via a version of MT4 but does not get slimmed down in terms of the offering as you see with many other brokers. The expert analysis, indicators and charting customisation is still supported on mobile to ensure you have as good an experience when our abd about as you would if you were on the desktop version. There is full multi-language support and asset support also here so if you like MT4 on iOS or Android and like the advanced features offered by ATXF on desktop you will be very happy with ATFX UK on mobile.

ATFX App Rating - 4*

ATFX Payment Methods Review

The payment methods supported by ATFX for deposits (and withdrawals) are via credit or debit card, bank transfer or online payment/e-wallet. The list of supported accounts include Visa, Mastercard, Neteller, Skrill, Safecharge + others with deposits on all atypes except bank transfer reaching your account inside 30 minutes (and bank transfer taking 1 day from receipt of funds by ATFX). A great feature here from ATFX is that there are no fees for depositing or withdrawing.

Withdrawing from ATFX is straight forward and like almost all brokers will require the funds are returned to the same source as the deposit. You can expect to see withdrawals from e-wallets within 2 days, debit and credit cards within 2-5 days and bank transfers 1-7 days depending on the Country of bank. It would be nice in the future to see a few more e-wallets added for international users and the option to use crypto to trade would be an advantage but otherwise the overall offering from ATFX here is solid and efficient.

ATFX Payment Methods Rating - 4*

ATFX Demo Account Guide

The demo account offering with ATFX will be funded with up to $100,000 in virtual funds to test the platform with and will support trading on Forex, Gold, Oil and Indices so a little more limited than their real accounts (but not so much so that it doesn't give you a fair view of their offering). It is really very easy to get started with a demo account with ATFX and just requires a few simple details to start testing both the platform offered and the tools provided. One of the big advantages of ATFX in general is their account managed service but you will not have all those luxuries on the demo to start with.

ATFX Demo Account Rating - 5*

What Account Types Does ATFX Offer?

There are 4 main types of accounts offered by ATFX London office, namely the Edge Account, Professional Account, Premium Account and the Standard Account. There are some key difference in the qualification and the underlying offering of each which you will see in the image below but we will touch on the main focus areas.

The first thing is the qualification for each account type is based on account deposit with criteria for standard account being 500 and the Edge account and above starting from 5000. The extra features provided with a larger deposit are not limited to better spread conditions, 1to1 Skype sessions with ATFX Chief Market Analyst and a Premium account manager to walk you through your trading activity which can be really helpful features to both the new and experienced traders amongst us.

The leverage quoted in the image above is based on being European resident and would vary depending on the arm of ATFX you are registering with. We are focusing here on ATFX UK so the leverage shown is representative.

Account Type Summary
When performing this ATFX review we only sampled the standard account but those additional features would be worth trying out if your balance can support it.

The account manager provision even on a standard level account is a massive advantage for ATFX above other brokers that any new trader should really pay attention to as they can provide both support and guidance on your overall account and risk exposure which could prove invaluable. Overall a very solid offering here from ATFX if a little on the high side in terms of minimum deposit levels compared to others.

ATFX Account Type Rating - 4.3*

Offers & ATFX Bonus

For those amongst you who are outside of the EU, you currently have the offer available with ATFX which is $100 USD welcome bonus on a $200 first time deposit. Once you have traded through volume of 6 lots you will be able to withdraw the welcome bonus alongside your deposit amount.

You should note that the offers provided may change from time to time and eligibility will depend on Country of origin and the regulation that ATFX must abide by. Anyone residing in Europe will not be eligible for this ATFX bonus.

ATFX Customer Support

Customer support with ATFX is there on a 24/5 basis (meaning all day Monday – Friday). You will find their support agents on live chat directly on the ATFX website helpful and courteous but you also have the other standard options such as email and telephone.

Due to the fact that ATFX actually provide you with a forex account manager when trading, you can also use this connection to try to help you resolve any issues directly but in most cases you will find them reverting back internally to the correct department.

With their head office being in London, the agents at ATFX on the phone are working to UK time and you can reach them on 08002796219 (if in the UK ) or +442039577777 if calling from any other region.

The other contact numbers you will want as a retail trader with ATFX in Asia include these below:

ATFX Customer Support Rating - 4.5*

How do ATFX compare to the top ranked brokers?