ATFX Review and Tutorial 2020

ATFX are an award winning online broker offering Forex trading, CFDs and spread betting. This review covers everything from the Metatrader 4 (MT4) trading platform, to account safety and security. Regulated in the UK, ATFX have grown quickly, focussing on customer service and keeping trading costs low.

The trading platform provides its clients with the ability to trade a range of assets via the company’s user-friendly platform that supports MetaTrader 4 software. ATFX offers competitive pricing to its clients and provides a state-of-the-art client portal that is protected by leading encryption security systems.

The most up-to-date bridging technologies are used on the site to secure the best rates from its liquidity provider. Account opening is quick and easy, enabling users to begin trading immediately, and there is a free demo account too for those who want to undertake system and strategy testing. AFTX provides super-fast deposit and withdrawal payment systems to further enhance its slick operation.

ATFX UK also offers a mobile application, giving users the convenience of trading while on-the-go. Clients also enjoy 24/5 customer service from a team of experienced experts.

Company Details

ATFX UK was founded in 2017 and is headquartered in Cornhill in the heart of the City of London, UK.

ATFX UK currently has around 1,200 clients and is responsible for approximately £7.5m of client funds.

The platform and range of trading media available is aimed at professional, experienced day traders. That said, there are plenty of learning and support features included on the website that provide beginners with a clear insight into the world of trading and spread betting.

Trading Platform

Trading is carried out via the MetaTrader 4 platform. MT4 supports all forms of mobile device, and the Windows version also offers multilingual and multicurrency trading support to users.

A VPS service is available for continuous daily connectivity, and MT4 Desktop provides customisable libraries, custom indicators, scripts, and EAs (expert advisors), allowing it to meet a variety of trading styles.

Also, there are over 50 indicators, as well as 30 chart analysis tools. Users can set their preferred display methods and parameters for every type of chart and indicator. Automated trading strategies are available via expert advisors. The MT4 application also allows enhanced trading speed and is renowned for its stability and robustness.

MT4 offers users a very useful WebTrader feature that’s optimized for maximizing web-based performance, including one-click trading, real-time information, and advanced charting.

Trading Central

The company’s Trading Central facility is a top-tier technical analysis resource that’s available for its clients. Trading Central is well-respected among professional traders worldwide, conducting research for over 200 investment banks, brokers, fund managers, and professional dealers.

Trading Central is used in 45 countries and is free to access for all clients of the site.

Trading Central provides professional analysis and technical strategies for assets, including precious metals, commodities, and currencies, and is updated ten times daily for every product giving users the most up-to-date information that is available.

For enhanced trader confidence, Trading Central is part of three associations for Independent Research Providers, including Investorside Research, Euro IRP, and Asia IRP. Trader Central is also a Registered Investment Advisor with the SFC (Hong Kong) and SEC (US).

Trading Assets And Markets

ATFX UK offers Forex trading across 43 different Forex trading pairs and is constantly reviewing its product range. Pairs include exotics, minors, and majors. The Forex market on ATFX is available 24/5.

The site also provides access to trading previous metals, specifically London Silver or London Gold, both of which are on a spot contract. That market is open 23 hours a day, five days a week. ATFX UK offers opening sell-short or buy-long positions. In this highly liquid market, traders have the ability to use leverage as high as 1:20.

Crude oil can also be traded, together with commodity-based oil ETFs. Indices can be traded too, with 15 variations of share indices available from the US, Europe, and Asia.

The spot indices on the platform have low spreads and low margin requirements. With this type of trading, users can access one-to-one support 24/5, plus the added attraction of tight spreads and zero commissions. Trading this type of asset starts with a 0.10 lot size.

Several forms of cryptocurrency CFDs are available, and the site also supports the trading of 50 major shares CFDs from Germany and the US.

Trading conditions generally vary by asset. For user convenience, the site provides an up-to-date list of the trading conditions for every individual asset, which are categorized such as exotics, minors, majors, and Forex majors.

Other categories include metals, indices, cryptos, shares, and oil. Users can view the name, contract size, minimum spread, maximum and minimum lot size for each product, depending on account type, including standard, retail, professional, and Edge account clients.

ATFX UK operates a “no dealing desk” policy, reducing broker intervention and improving the transparency of trading conditions and the trading environment.

Spreads And Commission

Spread betting with ATFX attracts no UK stamp duty or capital gains tax. Also, there are no commissions, and spreads are very competitive at just 0.6 pips. Traders can speculate on falling or rising markets and on margin. MT4 allows users to set stop-loss limit orders and balance protection.

Minimum deposit for spread betting accounts is £100 with a stop-out of 0.5 and a maximum leverage for retail clients of 30:1. There are no rejections or requotes, and slippage on EAs and hedging is permitted.

The company’s terms on spreads make them one of the most competitive platforms available for traders who like to use this trading medium.

ATFX UK offers market order execution. Market orders are forwarded to the market, and then executed at the market’s tradeable price. After execution, information regarding transactions is sent to the MT4 platform. The execution price is influenced by the liquidity from banks and whether that is sufficient.

The platform provides a range of order types with pending order options, including Sell Stop, Sell Limit, Buy Stop, and Buy Limit, which are connected to company instructions residing within the server.

A Stop Loss or Take Profit closes any pending orders. Pending orders are triggered, transacted, and executed as a market order, and occurs when the market price reaches the set point.

The firm does not charge commissions to traders and offers highly competitive spreads, reducing the costs associated with opening and trading positions.

Leverage

ATFX UK provides a list of default leverages for clients that can be found in its Trading FAQ section.

The company works in line with FCA/ESMA rules, offering 1:30 for retail clients and up to 1:400 for eligible professional traders. FX exotics default at leverage of 1:50. Silver and gold have default leverage of 1:200. The default leverage for indices is 1:100 or 1:50 for USDX. Default leverage for oil is 1:100, 1:20 for shares CFDs, and 1:50 for cryptocurrencies.

Mobile Apps

ATFX UK offers mobile trading platforms that are versions of MetaTrader 4. Users can download an app for either Apple or Android devices, enabling on-the-go trading.

The MT4 iPhone app includes the most useful features, such as customizable indicators and EAs, and the same applies for the Android application. Both mobile versions have the full functionality that users can enjoy with the other versions. Multi-language support is available 24/5 and real-time information is included that helps the user with the decision-making process.

MT4 for Android or iOS includes advanced charting, such as rapid analysis and customization, providing users with a flexibility to adapt to their trading strategy and offering full support for assets and diversification as required.

Payment methods

ATFX UK does not charge fees on deposits. Users can deposit funds, using debit or credit cards, E-wallet, or bank transfer. Currencies accepted are EUR, GBP, and USD. Payments made by bank transfer take up to one working day to process, while all other deposit methods are processed within 30 minutes.

Clients using non-UK debit or credit cards may be charged a fee by their provider, although that can be refunded to the client’s trading account upon receipt of proof of charges.

No fees are charged for withdrawals, and monies can be paid into debit or credit cards, E-wallets, or directly to a user’s bank account. Withdrawal requests received on a business day before 2pm (GMT) are processed that day.

Payments received after that time are processed on the next available working day. Bank wire deposits can take around two to five working days to process and trading accounts will not be credited until the funds have cleared.

The user’s bank account must be fully verified before a withdrawal can be made. All funds are returned to the original payment source that was used to make the deposit.

ATFX UK does not accept any third-party payments, and deposits must be from the client’s personal account.

Demo Account

ATFX UK does offer a demo account that allows traders to get a feel for the platform and what’s on offer. The demo account is also very useful for less experienced traders who are seeking to hone their skills and old-hands who want to test new strategies.

Deals and Promotions

There are no deals, promotions, or bonuses offered by the company, because bonuses are prohibited by the FCA. However, ATFX UK does offer various educational services to its clients.

Additional Features

Alejandro Zambrano, the site’s Global Chief Market Strategist, presents a webinar each day that addresses the current trends and states of particular financial markets.

Throughout the webinars, there a real-time insight provided to traders to boost their training. Mr Zambrano has over 12 years’ experience as a professional trader and has been recognized by CNBC, Reuters, and Bloomberg. Mr Zambrano’s specialism lies in both technical and fundamental analysis, and the strategies he teaches aim to enable clients to navigate the financial markets while minimizing risk.

One-to-one Coaching

Clients who hold an Edge account with ATFX UK are given the opportunity to benefit from one-to-one coaching opportunities, consisting of two, private 30-minute coaching sessions with Alejandro Zambrano.

These sessions allow the client to put questions on strategy and trading directly to a market expert who has years of trading experience. Users will also have the opportunity to create a unique trading plan to suit their goals and requirements, with advanced risk and money management protocols in place.

Traders learn where to take profit orders, where to place stop-loss orders, and how to manage leverage to their best advantage.

Forex Education Centre

Recently ATFX UK opened a Forex education center that can be accessed by clients on the company’s website. The education centre contains in-depth eBooks and several trading courses. The courses include subject matter on MetaTrader 4, economics, cryptocurrencies, social trading, trading strategies, and capital management.

Users who open a Premium account receive a number of exclusive benefits, including premium videos and tutorials, as well as having full access to Trading Central. The idea of the Premium education feature is to complement the free raw spreads and VPS that are offered by this type of account.

Clients can register for ATFX UK’s eBooks that will provide them with a greater understanding of trading and teaches them how to enter the financial markets. These free educational eBooks enable clients to overcome the mistakes that can be made in the early days of trading by building on existing knowledge of the financial markets.

Event Calendar

As a further “bonus,” traders are provided with the most up-to-date financial market news and overviews of some of their most popular products, including oil, precious metals, indices, and commodities.

ATFX Economic Calendar

Regulation and Licensing

ATFX UK is regulated by the Financial Conduct Authority (FCA). Also, the company holds client funds in segregated accounts that are kept separately from the company’s own capital. The firm is also regulated in North America and the Middle East. Due to this global approach, the firm is popular in regions such as Malaysia, the Philippines and Thailand, where traders often look for both local, and European regulation.

Also, ATFX Global Markets (CY) Ltd, operates from Limassol, Cyprus. That division of ATFX UK is regulated by CySEC, the Cyprus Securities and Exchanges Commission. CySEC regulation provides users with access to EEA and EU countries. Also, the Middle East and Switzerland have access to ATFX UK via CySEC regulation.

ATFX UK is also MiFID-compliant, the Directive on Markets in Financial Instruments. MiFID regulates financial institutions that provide investment services and activities, specifically in the European Economic Area. The EEA includes Liechtenstein, Norway, Iceland, and all 27 EU member states.

On the website, users can read and download documents that relate to regulation and compliance, including CFDs and spread betting. All the company’s terms and conditions relating to their specific products and services can be found here.

Account types

ATFX UK offers three account types: Standard, Edge, and Premium.

The Standard account must have a balance of at least £$€500 with a benchmark spread currency pair of 1.0 pips.

The Edge account must have a balance of at least £$€5,000 with a benchmark spread currency pair of 0.6 pips.

The Premium account must have a balance of at least £$€10,000 with a benchmark spread currency pair of 0.0 pips. Traders can use this account to trade with a higher leverage on all instruments, as long as they qualify as an elective professional. Evidence must be provided on application.

Benefits of using ATFX UK

  • Over 200 financial instruments
  • Highly competitive spreads
  • Free VPS (depending on account type)
  • Raw spreads (depending on account type)
  • Forex Education Centre
  • Multi-asset trading, including commodities, indices, FX, cryptos, and stocks

Drawbacks

The main drawback of using ATFX UK is that there are no bonuses offered.

Trading Hours

The site operates 24/7 but markets are open for trading inline with the assets being traded. So for example, the FTSE can be traded when the London Stock Exchange is open.

Contact Details/Customer Support

ATFX UK received an ADVFN award for Best Customer Service in 2019. The company offers a highly customer-centric multilingual service, together a live chatbot, UK and international phone lines that are open Monday to Friday, 9am till 5pm, and an email customer support provision.

Customer Security

ATFX UK uses “leading data encryption technology” to create a safe and reliable trading environment for its clients. All data management is carried out in accordance with the UK and FCA.

Client funds are held in segregated accounts that are separate from the company monies. That means that in the event of insolvency, client funds cannot be used to reimburse creditors. Also, AT Global Markets (UK) Limited is a member of the FSCS. Under the scheme, investments up to £85,000 per person are protected.

Overall verdict

ATFX UK is a broker that has its headquarters in London, UK. The company offers trading on a range of assets, including Forex, commodities, and CFDs. Several types of accounts are available, including those for professional clients. Competitive spreads are offered, and no commissions are payable.

All trading takes place over a secure, user-friendly platform, via MetaTrader 4 with support for mobile and desktop devices. Customer support is available 24/5.

Accepted Countries

ATFX accepts traders from Thailand, United Kingdom, South Africa, India, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use ATFX from Australia, Afghanistan, Belarus, Belgium, Burundi, Canada, Cyprus, Congo DR, , Egypt, France, Eritrea, Guinea-Bissau, Hong Kong, Iran, Iraq, Japan, Mali, Mozambique, Mauritania, Myanmar, New Zealand, Niger, Poland, Sierra Leone, Singapore, Somalia, Sudan, Syria, Tajikistan, Maldives, Tunisia, Uganda, United States, Vanuatu, Venezuela, Yemen, Zambia, Zimbabwe.

Be the 1st to vote.