EagleFX Review – Is it worth your time and money?

The brokerage of your choice can determine a lot of things for you. If you manage to find a reliable one, it’ll make sure that you have the safest and most profitable sessions in the market; conversely, a scam broker will try to trick you and rob you of your hard-earned money.

But how do you go about finding a trustworthy brokerage? Well, that’s where the research team of Top Forex Brokers comes in. We systematically conduct broker reviews, no matter how big or small they are, and give you our honest take on their offerings.

Today, we’ll conduct yet another review of the EagleFX broker. In it, you’ll find everything from the broker’s regulatory measures to its customer support and deposit/withdrawal methods.

So, stick around and join us to determine how trustworthy EagleFX is.

EagleFX review at a simple glance

EagleFX is a Forex brokerage located in the Commonwealth of Dominica and offers trading options on Forex pairs, company shares, commodities, and cryptocurrencies alike.

Whenever we make a Forex broker review we always like to take a look at the company’s website and determine just how much effort they were willing to show to make it as user-friendly as possible.

Luckily, it seems that EagleFX has designed their website to have it easily navigable for the users, however, we still have to point out that some pieces of information were a bit tricky to find.

As it turns out, EagleFX has one standard trading account, which can be modified in several different ways. This includes the ability to open accounts with varying base currencies such as the EagleFX ZAR account. On top of that, you can also open an Islamic or a demo account and use their benefits to the fullest.

After the website overview, we’ll move on to the actual trading terms and conditions that drive the whole thing. As mentioned earlier, EagleFX offers you multiple different trading instruments, including currency pairs, stocks, and even cryptocurrencies.

The conditions on these assets are also pretty impressive. Whether it’s the lucrative leverage rate or pretty affordable commission rates, EagleFX does distinguish itself as one of the more beneficial brokers in the market.

And finally, after the discussion about trading opportunities, we’ll determine how trustworthy these claims and the whole brokerage is. Now, generally speaking, EagleFX doesn’t feature a traditional type of license, which would trigger an EagleFX scam alarm in any other review of ours.

However, we decided to go past that – as we do all the time – and dig into the actual security features. And, to our surprise, EagleFX does come with high-tier fund protection mechanisms, which is pretty much what a trustworthy regulation is all about.

Therefore, the initial overview of EagleFX brokerage shows that it’s certainly worth trading with it. Now, let’s get a little closer to it.

The safety and security of EagleFX

Finally, it’s time to take a look at how trustworthy EagleFX is, which means we need to determine whether is EagleFX regulated or not.

Now, if we conduct this research traditionally, then it’ll be obvious that there are quite a few suspicions about EagleFX’s regulatory measures. At the bottom of its website, the broker notes that it is based in the Commonwealth of Dominica, although there’s no mention of its license. This only means that EagleFX doesn’t hold a traditional license.

With that being said, however, it doesn’t directly mean that EagleFX is a scam broker. That’s because we actually dug deeper into the platform and didn’t assume the worst right away.

First off, we read various EagleFX reviews from the actual customers, which revealed that the broker does hold a favorable place in its clients’ hearts. But for the sake of the argument, let’s say all of these reviews are sponsored, which leaves us to examine the security features on our own.

Remember how we pointed out that using high leverage rates is risky for your account? EagleFX also recognizes this danger and provides high-powered negative balance protection. What it does is it protects your positions from devastating losses: if you open a leveraged position and the trade goes against you, there is a possibility that you run out of the funds completely.

With negative balance protection, you’re not endangered by such a thing. The moment your account balance reaches 0, the software will automatically close out your position and save you from paying up for extra losses.

Another important fund protection mechanism is called account segregation. When you deposit funds to the Eagle Forex broker, your money won’t be stored on its balance. This would endanger you from the abuse: the broker might have used your money to pay out its other customers during the financial crisis or whatnot.

Instead of that, the money is stored in segregated bank accounts. When it’s held by a respectable bank, your money has no risk of being mistreated by the broker. Therefore, you can rest assured that your money is safe and sound with EagleFX.

And finally, let’s talk about the customer compensation fund. Even though we have already deemed EagleFX a trustworthy brokerage, there might still come a time when you have a dispute with it. In such a case, there’s a rigid customer compensation fund that ensures that you’ll be paid back every cent should it be mistreated in any shape or form.

Given all the above-mentioned details, and even though there’s no factual license to be found, we believe EagleFX to be a reliable broker. It takes it upon itself to protect your funds as much as possible.

Besides, there’s also the EagleFX bonus promotion, which lets you become its affiliate partner and earn extra money by promoting its platform. In short, you can’t go wrong by choosing EagleFX as your trading partner.

EagleFX Spreads and Fees

Moving on, let’s talk about the Eagle FX commissions. As we have found in the FAQ section, the EagleFX spreads are variable, and they go as low as 0.1 pips. As for other fees, the only one’s EagleFX features are the 6 USD round-turn lot fee and swap fees. Other than that, there are no inactivity fees, account-maintenance fees, or deposit/withdrawal commissions. These spreads with this low commission seem like a super attractive deal for scalpers. Scalpers are traders who rely on multiple small profits throughout the day and low spreads are key for their profitability. Since EagleFX offers low spreads and lower than industry average commission the value this broker has to offer is hard to ignore.

There are no inactivity fees charged by EagleFX broker which is great.

EagleFX Accounts, deposits, and withdrawals

There is not much information about account types or their comparisons on the website. But as we have researched there are two main accounts offered one is a retail account and the second one is the swap-free or Islamic version of the same account. The demo account can also be set up in a minute to test and learn to trade. The minimum deposit amount was increased from 10 USD to 50 USD, but since this is not a high initial deposit requirement no issues here. The spreads are attractive and the broker allows hedging, scalping, and automatic trading robots. All this information indicates that brokers target scalpers and trading robot users.

Deposits and Withdrawals

Speaking of deposits and withdrawals, let’s see how you can make payments on/from your trading account at EagleFX. In this sense, the website is as descriptive as it can get, listing all the payment options, as well as the conditions for them.

So, if you want to deposit funds to your EagleFX account, you can use Visa/Mastercard credit cards, wire transfers, or Bitcoin. The minimum amount of deposit you can make is 10 USD, and the transactions are executed instantly.

And when it comes to the EagleFX withdrawal, you can use the same methods, as well as some additional ones, namely: PayPal, Coinbase, and Prepaid Mastercard.

Another impressive feature that will be extremely helpful to beginner traders is the Guides section. It contains tons of educational materials, whether it’s website guides, MT4 tutorials, or mobile platform walkthroughs. In short, EagleFX does care about your maximum effectiveness in the market.

EagleFX Trading assets and features – are they good enough?

Moving on, let’s take a closer look at how the trading process commences at EagleFX. First things first, we should explore all available trading instruments. The website is very informative and gives a list of all instruments which is great to see what the broker has to offer.

As we have found, EagleFX offers you hundreds of different assets to trade, mainly:

• Currency pairs
• Cryptocurrencies
• Commodities
• Stocks
• Indices
• Futures

Diversity in this segment is always a plus. By investing in various instruments, you can better diversify your portfolio from unexpected market fluctuations. Besides, the profitability levels are still impressive, given how beneficial trading terms and conditions are.

First off, EagleFX offers you 1:500 maximum leverage. But what does it mean for the readers of this EagleFX review? Well, with the leverage at 1:500, you can open a trading position that’s x500 times larger than what you have on your account balance.

Open EagleFX Trading Account

For example, if you deposit 100 USD in your account, you’ll be able to open a position for 50,000 USD. A position this large will also produce higher profit rates. However, we should also point out that higher leverage rates do increase the losses by the same amount, therefore, you should always use this feature carefully.

Website and software support – How EagleFX fares

The EagleFX website is a decent place where you can find information about how trading with this broker is done. It features a modern design with pleasing color schemes and whatnot.

However, we should also point out that some details are a bit difficult to obtain. For example, if you want to know more about commission rates, you need to go to the FAQ section. With that being said, we cannot blame EagleFX for hiding any piece of information from you.

When it comes to the first EagleFX login procedure, you can easily create a retail trading account, which offers you a bunch of trading benefits. For instance, you can easily select the preferred base currency within the registration panel, as well as choose the trading platform you’d like to use.

Not only that, but the broker also allows you to select a swap-free account if you are Muslim. Since Islam prohibits trading, or doing anything, under a certain interest charge, Forex brokers go the extra mile to accommodate such requirements. Therefore, if you’re a carry trader and are restricted by your faith, worry not – EagleFX has got you covered.

On top of that, you can even set up a demo trading account. It allows you to trade in a virtual market and hone your newly-learned skills. Besides, even experienced traders can find great use of this account if they’re transitioning from one market or strategy to another.

Another good feature we found is a decent selection of trading software available at EagleFX. Traders can use both MetaTrader 4 and WebTrader which come with EagleFX demo versions as well. We’re always excited when the broker has a WebTrader version as it allows them to customize it as much as possible.

All in all, we have found that your EagleFX sign-in is a worthwhile decision.

Customer Support at EagleFX

Customer support is excellent at EagleFX, not only were we able to connect with the broker support within seconds, the team was very professional and knew very well what their broker was offering to their clients. This responsiveness is very critical in the Forex brokers’ scene and we are glad that live chat is this reliable. Support is available 24/7 which is not very common in the FX market and can be considered a very positive indication of a broker’s legitimacy. There is also an option to request a callback or submit a support ticket.

EagleFX Education reviewed

Let’s now overview the educational section of EagleFX broker and conclude if it’s useful or not for our readers. The review states that EagleFX has a Guides section that contains various educational materials, including website guides, MT4 tutorials, and mobile platform walkthroughs. EagleFX offers resources to help traders learn and improve their trading skills. There are plenty of articles covering various themes and topics which may be useful for traders and general audiences who are interested in digital marketing and similar fields.

Should you consider trading with EagleFX?

So, with everything we’ve just said in this review of EagleFX brokerage, is it worth trading with it? Well, let’s have another roundup of its offerings.

First off, we went through its website and found that the broker offers information about pretty much everything and the occasional lapses are compensated by an extensive FAQ section. Account offerings are also diverse, and you can choose from two high-powered EaglesFX trading platforms.

When it comes to trading terms and conditions, EagleFX offers you hundreds of varying trading assets, including currencies and cryptocurrencies. The leverage ratio, as well as spread rates and bonus offerings, make this particular platform very enticing.

And finally, we went through the broker’s legal measures and found that despite its lack of a full-fledged government license, EagleFX.com does secure your funds using multiple customer protection mechanisms.

So, should you trade with EagleFX? If you want to maximize your profits in the market and still maintain the tight security of your funds, then absolutely!