EagleFX is a Dominican-based online exchange that operates with Forex, CFDs and Pairings. Since they opened in 2019, they’ve maintained high leverage that is backed by institutional liquidity. Their growth is becoming noticed by traders everywhere, as it claims to be a platform designed by traders. However, there is minimal information on the background of EagleFX. They do advertise working with reputable sites like the Forex Peace Army. Clients curious about this exchange will be shocked to find out that the Dominican Republic governs it. It should be noted that the exchange doesn’t maintain an operational license and isn’t regulated by any finance entities.
Regardless, there is still 100+ Digital Asset and Forex Trading Instruments maintained. All products are provided through the Meta Trader 4 Platform, which requires clients to download an application to their desktops or laptops. Luckily, the Mac and Windows operating systems are both supported by EagleFX. There is also a mobile application that can be installed directly to iOS or Android Devices. However, those wanting to avoid downloads can acquire the Web Trader service, which works through desktop browsers.
The MT4 EagleFX Trading Platform maintains numerous tools, instruments, analytic devices and technical indicators to assist clientele. This extends to a highly engaging charting service, instantaneous market modes and trade execution services. Retail clients and traders are also given stop orders for risk management. These trading functions enable clients to lock in their trading orders with single clicks and earn higher profits. There is a total of 24 Graphics Tools, 30 Technical indicators and 9 Timeframes. Subsequently, players have comprehensive analysis’s that provide better insight into price movements. Below we’ve analyzed all the services and features provided with the EagleFX Trading Exchange.
Clients have two options when signing up with EagleFX. There is a live trading account, and demo trading account enabled. Both accounts allow for the GBP, EUR, USD and Bitcoin to be used for deposits. The exciting aspect of the live trading account is that clientele can require Sharia-Compliance be implemented with their account. Regardless of the account selected, there are two-factor authentication and 100+ trading instruments.
Leveraging is one of the most important aspects of trading for clients. EagleFX begins their leverages at 1:1 and lets them grow to a maximum of 1:500. The leverage received depends on the account selected, with live traders typically receiving the high volume. The trading sizes for these leverages begin at a minimum of $0.01 and usually is capped at $1,000.00.
The cost of trading varies depending on the account selected, and instrument acquired. EagleFX doesn’t maintain any overnight charges for traders but does enlist commissions which can range from $0.01 to $6.00 on a client’s contract-for-difference. Receiving lower commissions requires consumers to contact support.
The assets available to traders are extensive with EagleFX. They offer 100 Financial Instruments that are split across Pairings, Indices, CFDs, Forex, Futures and Commodities. In these 1000 Instruments are several significant crypto pairings, eleven equity indices, six metal contract-for-differences and three energy products. Only the cryptocurrency products are maintained 24/7.
EagleFX maintains a revolutionary approach with contracts-for-difference or Forex with the live spreading service. These spreads are updated in intervals of ten seconds, with their values being highly valuable. The result is lower spreads during times where the market remains calm. During times of peak, the volatility of these spreads increases quickly.
The depositing services provided at EagleFX is secure, but changes depending on the trading account selected and the trading service acquired. Typically, minimum deposits vary from $10.00 to $25.00 at this exchange. Players can make deposits with Bitcoins or Ethereum. Provided depositing methods extend to Visa, MasterCard and Direct Bank Wire Transfers. It should be noted that there are zero-fees when depositing.
An essential part of any online exchange like EagleFX is the provision of withdrawing. Players can withdraw funds acquired from their executed trades with MasterCard, Visa, Direct Bank Transfers or Bitcoin. This extends to PayPal and Pre-Paid Credit Cards as well. On average, funds are withdrawn and provided to bank accounts in less than 24 hours. This is because EagleFX doesn’t implement a verification process with withdraws. Of all the withdraw services, Bitcoin is the fastest.
One of the defining features for any exchange is the security systems provided to defend clients. Luckily, traders don’t need to have any worries with EagleFX. They maintain two-factor authentication on deposits, which are backed by 551-SSL Encryption. This guarantees that all transaction activity remains private from any outside sources. Additionally, Proxy Firewalls assist in securing client credits. These firewalls protect the cold storage vault, which holds all excess coins held by players.
Education is an integral part of any brokers growth in the cryptocurrency space. Gaining knowledge and training on Forex is perfect for the individual wanting to heighten their trading experience. EagleFX maintains its educational classes that assist clients in learning about the industry. There’s also an economic calendar and news sections that teach clients about future products coming from EagleFX.
At one point in time, bonuses were a defining aspect to an online exchange. However, this has changed with regulation. EagleFX doesn’t maintain any deposit promotions, but they haven’t ruled out offering some unique benefits in the future. This will all depend on future regulation in the jurisdictions that this exchange operates.
The brokerage doesn’t specify the list of countries supported with the EagleFX Exchange. They haven’t gained any accreditation from regulators in the United States of America. The Securities and Exchange Commission has been wearied to accept exchanges. This also applies to the Commodity and Futures Trading Commission. Subsequently, this means that EagleFX holds controlling say over the rights of conduct available. However, it is anticipated that this newly formed brokerage is working with SEC and other worldwide regulators to receive their licensing.
One defining aspect to an online exchange is their support options for clientele. Luckily, EagleFX maintains a fully operational support team that’s available 24/7. Three ways can be contacted, with the most direct being live chat. Here players receive instantaneous response times, with solution times varying between three to five minutes. The second option is via email, where players receive an average response time with their solutions in fifteen minutes. The final option is unconventional, with clients having the ability to submit a ticket that tells support agents to call you back at a designated phone number. These representatives speak the English language and have been trained extensively on everything about the exchange. Any standard questions that don’t need the assistance of a support agent can be answered through the Frequently Asked Questions page. The FAQ addresses depositing, withdrawing, trading, the MT4 platform and much more.
The final thing worth discussing is the differences between a demo account and a live trading account. Both accounts are free for registration and maintain multiple trading tools with analytic services. However, selecting the demo account limits the services acquired in comparison to the live trading account. Most exchanges maintain a time limit with the demo account, but EagleFX allows them to remain open forever. It should be noted that demo accounts use virtual funds, meaning that real trades cannot be executed. However, for traders that want to educate themselves on trading, the demo account is the perfect opportunity. These demo accounts can be acquired through the Windows, Android, Mac or iOS software platforms on EagleFX.
EagleFX has been open for only a few months, quickly ramping up their services to compete with the most important names in the market. They have already begun to stand out in the industry for their unique resources, trading tools and features. The capability to have competitive trading with zero-free withdraws and deposits, with the added benefit of 24/7 support are two defining factors that have driven these brands popularity. The instantaneous trade executions and same-day processing of withdraws are two other features that have prompted these brands awareness.
Their trading services go far beyond the processing capabilities. This brand is becoming famous for its unique financial instruments, formidable risk management services, low commission rates and unlimited demo accounts. The collection of features and services managed at EagleFX has made them one of the most credible exchanges operating in the market today. It won’t be long until they are receiving their licensing and can compete with notable exchanges like Binance. We recommend our readers examine EagleFX for themselves to see how amazing this exchange is becoming in a short period.