Markets

EagleFX provides access to 100+ financial instruments. Whilst not the most extensive selection vs alternatives, clients can speculate on popular global markets:

• Futures – US Dollar futures
• Stocks – Trade 70+ company stocks including Amazon, Tesla and Goldman Sachs
• Indices – Invest in 10 stock indices including the FTSE100, S&P500 and NAS100
• Commodities – Invest in a small number of commodities including gold, silver and oil
• Forex – Speculate on 50+ major, minor and exotic currency pairs including GBP/USD, EUR/GBP and USD/CAD
• Cryptocurrency – Take crypto positions across 35+ digital currencies including Bitcoin (BTC), Ripple (XRP) and Ethereum (ETH)

Fees & Spreads

EagleFX offers relatively competitive variable spreads, starting from 0.1 pips.

When we used EagleFX, we found typical spreads on the EUR/USD currency pair were 0.7 pips, while on the NASDAQ, they were 1.1 points. Note, market volatility can significantly impact spreads. Price quotes are updated every 10 seconds within the platform interface.

Commissions also apply for all trading instruments and are charged at $6 per lot round turn. Overall these trading conditions are pretty middle-ground when we compare with other brokers. Overnight swap charges also apply.

Account Types

EagleFX offers one standard account for all clients with a low minimum deposit of just $10. The minimum lot size is 0.01 and the maximum trade size is 1,000 lots.

The broker also offers swap-free accounts for Islamic traders.

On the downside, a choice of accounts could benefit active day traders looking for lower fees and cash rebates in return for higher deposits and trading volumes.

Payment Methods

Deposits

The brokerage offers three payment options; bank wire transfer, credit/debit cards (Visa and Mastercard) and Bitcoin.

The minimum deposit is $10 for Bitcoin and $50 for cards or bank transfers.

When we used EagleFX, our experts were pleased to see the broker does not apply a deposit or withdrawal fee for any payment methods, though third-party charges may apply.

Withdrawals

It was disappointing to see no wire transfer option at the withdrawal stage. Instead, PayPal, credit/debit cards or Bitcoin are available.

Withdrawal times are relatively fast, with requests reviewed within 30 minutes. The time to receive funds will vary. Public holidays may cause delays and Bitcoin fund transfers are dependent on network confirmation times.

The minimum withdrawal amount via Bitcoin is $10. There is no maximum withdrawal limit.

EagleFX Platform

EagleFX offers Webtrader and MetaTrader 4 (MT4). The platform is available as a desktop download or can be used directly through all major web browsers such as Internet Explorer or Google Chrome.

While using EagleFX, we found the trading terminal intuitive and suitable for investors of all experience levels. Dashboards can be fully customized, with interactive charting, technical analysis tools and one-click order execution.

Features include:

• Nine timeframes
• Multilingual interface
• Fully customizable charts
• Four pending order types
• One-click order execution
• Three order execution types
• MQL4 programming language
• 30+ built-in technical indicators
• Direct access to Expert Advisors and automated trading systems

Mobile App

The EagleFX MT4 app is also available on iOS and Android (APK) devices. The application can be downloaded for free from the Apple App Store or Google Play.

The application includes a full range of analytical features, with real-time quotes and trading directly from charts. The mobile interface is visually appealing and easy to navigate. The mobile terminal also integrates with the desktop solution seamlessly so you can open orders and manage trades on the go.

On the downside, advanced graph analysis is challenging on a smaller screen and the software can lag slightly, depending on your mobile or tablet device.

Leverage

EagleFX offers high leverage up to 1:500, though this varies by asset type.

However, new users should be aware of the effects of leveraged trading before creating an account. Although profit potential can increase, losses may be amplified.

• Forex – Up to 1:500
• Stocks – Up to 1:20
• Indices – Up to 1:200
• Energies – Up to 1:200
• Cryptocurrency – Up to 1:100
• Precious Metals – Up to 1:500

Is EagleFX Regulated?

EagleFX is an unregulated broker based in the Dominican Republic. Traders should note that unlicensed providers will not usually provide much, if any, client protection.

With that said, the firm does use Bitcoin Cold Storage to safeguard client funds. This ensures that customer money is not stored on the broker’s web server, instead it is housed within an external storage device, safe from hackers.

Note, residents of the United States are not permitted to trade on the platform.

Trading Hours

Forex markets are open 24/5 and crypto markets are open 24/7. Specific asset trading sessions can be found under ‘specifications’ in MT4.

All market hours are provided in GMT+3, but EagleFX provides a useful time zone converter link in the FAQs.

Customer Support

EagleFX offers reliable customer service through its 24/7 live chat. You can also submit a ticket through the website where responses are typically received in 15 minutes.

For those who would prefer to speak to a member of the team over the phone, you can submit your phone number and request a call-back within four hours.

The broker’s office address location is at 8 Copthall, Roseau Valley 00152, Commonwealth of Dominica.