EagleFX is the new Forex and CFD platform, which began its work in 2019. It is supported by MT4 and gives access to cryptocurrencies, indices, goods, cross, and rare currency pairs.
The exchange provides its users with access to narrow spreads, competitive objectives and sufficient levels of liquidity.
How Does EagleFX Exchange Work
EagleFX offers trading in cryptocurrency pairs, crypto-fiat, forex, indices, and commodities. Moreover, the platform allows you to open both short and long positions on the selected pair of cryptocurrencies, and the products include oil, gold, copper and natural gas.
All assets can be sold with leverage. Energies and indices are limited to 1: 200, and crypto has a maximum leverage of 1: 100. At the top of the scale, you can trade both Forex and metals with a leverage of up to 1: 500.
The exchange offers its users Islamic accounts that comply with Sharia law. The demo account is not limited, but it can be closed if, within a week, you have not logged in.
MT4 is available in many other formats. Users can make transactions from a tablet or smartphone using the Android and iOS applications. You can also use WebTrader, which provides access to the platform.
EagleFX has a daily market analysis, competitive spreads, around-the-clock support service, and does not charge hidden fees for withdrawals and deposits.
The minimum deposit on EagleFX is $ 10. You can replenish your account using a debit or credit card, bitcoin or bank transfer. Withdrawals are paid within 48 hours, sometimes even less.
Is EagleFX Safe?
EagleFX is located in the Commonwealth of Dominica and uses the cold storage method along with the allocation of funds to protect customer deposits. Most of the deposits are stored on external devices away from real computers and servers or in bitcoins.
Also, Eagle FX uses Straight Through Processing (STP), which is a guarantee that traders’ transactions are carried out directly with this company and can protect them from threats of price manipulation.
Unfortunately, currently, this trading exchange is not registered or regulated in any governmental or non-governmental body that controls financial activities. Also, the platform cannot accept traders from the USA, because it is not yet regulated by the CFTC or SEC.
EagleFX is a young exchange with good trading conditions, profitable deposits and relatively quick withdrawals. Despite the fact that EagleFX uses Straight Through Processing (STP), which ensures that users can receive an adequate level of liquidity and competitive spreads, lack of control is a big minus.
If you are in doubt about whether to work with any platform or not, then try to learn as much as possible about it, find out where it is registered and by whom it is regulated. Good luck trader!