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EagleFX Broker Review

Review By: Alan LittleReview Updated: 2020-03-09

Phone: https://www.eaglefx.com/request-a-callback/

Email: https://www.eaglefx.com/submit-ticket/

forexcfdcryptocommodities

Spread

1

Max. Leverage

1:300 Pro

Deposit Protection

£50,000

Min. Deposit

£100

Spread

Max. Leverage

Deposit Protection

Min. Deposit

Spread

1

Max. Leverage

1:30

Deposit Protection

£50,000

Min. Deposit

£100

Spread

1

Max. Leverage

1:300 pro

Deposit Protection

£50,000

Min. Deposit

£100

Our Overall Rating

Rating4

Eagle FX is a relatively new online broker, founded in 2019, and based in The Commonwealth of Dominica. The firm offers Forex trading, with a wide range of major, minor and exotic currency pairs on offer, and also has an impressive list of cryptocurrencies available, along with some commodities and several major indices. It should be noted that although brokers operating in Dominica are governed by international banking regulations, they are not regulated by a local independent authority, as is the case in most other countries. The firm publishes a clear risk disclosure, along with all terms and conditions, on their website.

Commissions & Fees

Rating

Eagle FX offers competitive spreads on all its tradable assets. Spreads are dynamic and therefore vary according to market volatility and liquidity. Eagle FX state that their pricing system ensures that spreads closely follow those of the prevailing global markets. There is also a small commission to be paid. Live spreads, updated every 10 seconds, are displayed on the website, along with details of other fees. Swap positions held overnight will incur an overnight financing fee, which will vary depending on the instrument you are trading. There are no commissions on cash deposits and withdrawals.

Platforms & Tools

Rating

The broker offers the popular, versatile and user-friendly MT4 platform, available for both Windows and Mac, which incorporates a wide range of trading tools, features, and technical indicators. For mobile traders, the MT4 platform is also compatible with both iOS and Android devices. The MT4 platform meets high-security standards and allows for instant execution of orders, as well as important features such as stop orders and trailing stop orders. There is also a browser-based web trader option available, but most traders will find the award-winning MT4 platform a far better option.

Customer Service

Rating

Customer support is available via the website, but it is not possible to phone or email direct. Customers must submit a ticket for an email response, or fill in a form to request a call back from customer support. While this may not appeal to all customers, the system seems to work well, with fairly prompt responses to both support tickets and call back requests. There is also a handy live chat function. Customer support staff are helpful and well-informed, and support is available 24/7, which is particularly important for cryptocurrency traders, as crypto markets never close, and not all brokers offer support during weekends when other markets are closed.

Final Thoughts

Eagle FX is an innovative online broker with an impressive range of currencies, cryptocurrencies, and other tradable instruments. Spreads are competitive, and other fees are reasonable and transparent. The MT4 platform is well-known and respected, and many traders are already familiar with it. Customer support that is available 24/7 is also an attractive feature. The lack of regulation will make some traders think twice, but the firm does offer protection of client funds via cold storage of cryptocurrencies, internal risk management strategies, and one-tier processing, as laid out clearly on the website.

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