This unbiased EagleFX review will provide all the information you need to determine whether EagleFX is a worthwhile investment platform.
Before choosing to trade with any broker, it’s essential to research and make an informed decision. We’re here to help with just that.
In this EagleFX review, I will highlight the following:
- My Findings on EagleFX and its services
- My Personal Trading Experience with EagleFX
- Demo Trading on EagleFX
- EagleFX Alternatives
- Is EagleFX Regulated?
- My Findings
- My Personal Experience With EagleFX
- Trading With EagleFX
- Demo Trading on EagleFX
- EagleFX Alternatives
|Minimum Deposit||$10 through bitcoin, $50 through credit card and wire transfers|
|Spread||Spreads start from 0.01pips, 0.07pips on the EURUSD pair|
|Leverage||Starts at 1:20 and up to 1:500|
|Deposit Methods||Bitcoin, Credit card, Wire transfer|
|Withdrawal Methods||Bitcoin, Credit card, Wire transfer|
EagleFX Review Summary and Rating
EagleFX aims to provide the fastest transaction speeds whilst delivering the lowest spreads and security of funds.
Low minimum deposit
STP/ ECN accounts
Excellent customer support
No deposit/ withdrawal fees
Easy and quick sign-up process
No copy trading platform
No swap-free account
No cent account
Is EagleFX Regulated?
Any authority doesn’t regulate EagleFX, but this doesn’t mean they are unsafe. The client’s funds are kept safe in cold Bitcoin storage.
Also, this broker has partnerships with a few prestigious trading companies like Babypips and Tradingview.
Additionally, EagleFX has bagged a couple of awards, and most importantly, there are no cases of unprocessed withdrawal.
The biggest con is in the advent of insolvency; client protection isn’t guaranteed. Other than that, the services provided are industry-leading-esque, with an excellent support system to back it up.
EagleFX was founded in 2019, and its services are fully operational in 188 countries, the US being the country with the most density of clients.
There are 130+ pairs of forex pairs, metals, indices, and stocks, and EagleFX is a renowned STP/ ECN broker; hence, all transactions are smooth.
The market here is open all week- crypto pairs remain open on weekends. So, customer support is available all week long, too, ready to answer every complaint.
Regular accounts support MetaTrader 4 and 5 accounts and are ECN by default. Demo accounts can also be created to test their services; unlike other brokers’ demo accounts, these don’t expire.
Further, accounts can be denominated in various currencies on EagleFX.
Spreads start from 0.07 pips on the EURUSD pair and go up to 1.2 pips on indices and even higher on exotic pairs.
EagleFX’s spread is low, which is good news since it determines the entry price of a trade.
The spread is the difference between a commodity’s bidding and an asking price.
The maximum leverage can be chosen while opening an account and maxes out at 1:500- doesn’t apply to every trading pair.
For instance, the maximum leverage on stocks is 1:20, forex – 1:500, metals – 1:500, indices – 1:200, energies – 1:200, and cryptocurrencies – 1:100.
The minimum tradeable lot size is 0.01 since the broker offers no cent account, and the maximum lot size goes as high as 1,000 lots!
Remember that the maximum lot size each trader can use correlates to the magnitude of your trading funds.
The minimum deposit on EagleFX is $10 via Bitcoin, and alternatively, the minimum deposit through a bank transfer or credit card is $50.
Once a deposit has been initiated, you’ll be redirected to a page showing the necessary details to proceed with the transaction.
No deposit fees are charged, but due to fluctuation in price typical in crypto, this might slightly alter figures.
Eagle FX’s Trading Platform(s)
Unfortunately, this broker comes out short here. There isn’t a dedicated platform provided. So, all trading is done with MetaTrader 4/5, available on mobile devices and desktops.
However, this isn’t an issue since those are the best trading apps.
I wish there were content on trading methodology, chart insights, etc. Instead, there are only educational materials on marketing and the like.
Customer support is excellent; three methods can be used to reach them. The first is through a live chatbot available on the web portal or by filling out a ticket.
Contrarily, a mail could be sent or a call-back requested if you’d rather speak over the phone.
Expert Opinion on EagleFX’s Services
EagleFX is an excellent broker that provides goodies in low spreads, high leverage, low deposit, and low commission.
Nevertheless, no authority is not regulating their undoing, although they ensure funds are safe and the owner is publicly known. Nonetheless, we aim to focus on their strengths in the remainder of this EagleFx review.
My Personal Experience With EagleFX
My experience with EagleFX has been decent. Sign-up was easy, and there are enough pairs to trade with low spreads and low commissions.
Furthermore, all trades were placed swiftly, and none were closed abruptly since all trading strategies are permissible here.
Trading With EagleFX
No matter what type of trader you are, there are a bunch of pairs in your niche provided by EagleFX. Stocks, currency pairs, cryptocurrencies, commodities, and indices are all tradeable.
Each time a trade is opened, a fee of $0.06 per 0.01 lot is charged as a fee. The swap fees here are low too. A rate of ~ 0.1 dollars per day is charged, but if you require a swap-free account, this broker doesn’t offer that.
Demo Trading on EagleFX
In this case, our trading bot struggled, and a win rate lower than 50% was achieved.
However, this trading session was still closed out in profit, further showcasing the risk management capabilities of the automated trading robots; download it for free here.
Regardless of EagleFX’s good reviews and reliability, the broker is unregulated as mentioned in this EagleFx review. If you’d instead trade with a regulated broker, below are options to choose from:
Unbiased EagleFX Review Summary
This Eagle FX review has shown that this broker is suitable to invest with. This broker is ideal for every trader, new and advanced.
All ranges of commodities/ pairs are available to choose from while trading with different strategies. To top it off, spreads are low.
Nevertheless, a few things need to be added to this broker, like copy trading, swap-free accounts, and, most importantly, the absence of a regulatory certificate.
The point of attraction still stands, EagleFX is a broker that requires minimal verification while providing services that are top of the range.