Pros and Cons
EagleFX is an ECN/STP broker that allows thousands of traders from all over the world to trade forex and CFD through tier-I liquidity providers without any conflict of interest. The broker provides tight spreads, high leverage, fast execution speeds, and fast deposits & withdrawals. The broker supports the MT4 trading platform, which allows the trading of hundreds of tradable instruments across numerous asset classes. The broker doesn’t charge any fee on deposits and withdrawals, plus both are processed within 30 minutes. The broker also provides 24×7 customer support to its clients.
EagleFX offers its services in all countries. Some features and products of the broker won’t be available in some countries due to legal restrictions.
MetaTrader 4 (MT4)
EagleFX supports MetaTrader 4, which is an award-winning platform used for trading a wide range of instruments efficiently. MT4 offers traders a wide range of interactive charts along with several analytical functions including drawing objects and technical indicators. Traders can choose from different execution modes, which include stop orders & trailing stop function, pending, instant execution, and market execution.
Traders can lock in trading orders right from the chart with a single click. The inclusion of a built-in tick chart offers an accurate method to locate suitable entry and exit points. The platform allows you to view bid/ask quotes of multiple assets in real-time through the market watch window.
The platform is available on both Android and iOS, thus letting traders access it even when they are on the move. They can also browse the platform without installing the software, courtesy of the WebTrader version.
EagleFX is a true ECN/STP broker where the pricing is provided directly by the tier-I liquidity providers. The broker uses multiple liquidity providers with a motive to keep the spreads as low as possible.
EagleFX also offers free demo accounts to its traders where they can get the hang of the trading platform, hone their trading skills, and a lot more. Traders can make as many demo accounts as they want.
EagleFX offers a wide range of deposit and withdrawal options. The withdrawals are processed on the same day to allow traders to have quick access to their funds. Traders can deposit funds via Bitcoin and Instacoins, Credit & Debit Cards, and Wire Transfer. The broker doesn’t charge any fee for depositing funds. Traders will receive a notification once the funds are processed successfully. If traders sent funds via 3rd party payment providers, then those will be credited within 6 hours. As far as the minimum deposit is concerned, then that is 10 USD/EUR/GBP. The broker won’t charge any fee for withdrawing funds, plus the withdrawals will be processed within 30 minutes. Once successfully processed, the funds will arrive in the Bitcoin wallet of traders within an hour or less depending on the blockchain traffic. Currently, the broker offers 3 withdrawal options, which include:
- Bitcoin – Via any wallet
- Prepaid Mastercard
- Coinbase/PayPal – Coinbase gives you the option to choose whether to withdraw funds into Coinbase wallet or PayPal.
EagleFX incorporates plenty of useful trading tools, which include technical indicators for analyzing price movements such as Bollinger Bands, Moving Average, CCI, RSI, MACD, Stochastics Oscillator, and more. Traders can also use drawing tools to mark out support/resistance while the candlestick charts are used to identify price action patterns. Moreover, the broker provides an economic calendar that is extremely useful for carrying out fundamental analysis of the markets.
EagleFX allows its traders to trade a variety of assets, including:
- 53 Forex Currency Pairs
- 31 Cryptocurrencies (Bitcoin, Ethereum, Litecoin, Ripple, Dash, OmiseGo, TRON, Bitcoin Cash, and more)
- 11 Indices
- 64 Stocks
EagleFX provides 24/7 support to its clients via Email, Live Chat, or Phone. Of all these, live chat is the fastest way to resolve all kinds of queries. Traders can send an email to the broker, which has a turnaround time of 15 minutes. Traders also have the option to speak with customer support or request a callback. One of the company’s representatives will call back in 4 hours.
Setting up an account on EagleFX is very easy and takes only a few minutes. Traders can find an application form on the broker’s website, which they can fill out to get started with their trading account. Traders can also use Google or Facebook accounts to sign up on EagleFX.
Traders can start trading on EagleFX by depositing $10 via Bitcoin whereas the minimum deposit amount from bank transfer(via InstaCoin) or credit/debit cards is $50.
Is there any fee for depositing/withdrawing funds?
No, there is no fee to deposit and withdraw funds on EagleFX. However, Bitcoin transactions are subject to Blockchain network and miner fees.
How do I know if the funds are deposited into my EagleFX vault?
Once EagleFX receives your funds, they will automatically be credited into your vault and an email notification will also be sent.
How much time does it take for deposited funds to reach my account?
If funds are sent from a Bitcoin wallet, then it will be confirmed 6 times before they are credited into your account. The whole process can take up to 6 hours and depends on the blockchain network.
Can I withdraw funds while my trades are still open?
Yes, you can withdraw the funds present in your vaults while your other funds are being used to keep the trades open.
How do I withdraw funds via Bitcoin?
1. Select ‘Withdraw’ from the left-hand panel
2. Select ‘Bitcoin’ as your withdrawal method and preferred currency option
3. Select the amount you would like to withdraw
4. Click the ‘Withdraw’ button
5. As the next screen pops up, enter your Bitcoin address and then, click the ‘Send Bitcoin’ button. Your withdrawal request will now be reviewed and processed within 30 minutes.
What is the minimum & maximum withdrawal amount?
Minimum amount you can withdraw via Bitcoin is 10 USD/EUR/GBP. There is also an option to add funds via BITs, which is subject to change due to fluctuations in the price. There is no limit on the maximum withdrawal amount.
How many demo accounts can I open?
You can open as many demo accounts as you like. Demo accounts are also free of cost.
Is there any inactivity fee?
No, there isn’t any inactivity fee on EagleFX.
Is there any fee for trading?
There are two types of fees applied while trading, commission fees, which are around $6 per lot RT, and swap fees, which are applied according to the currency pairs traded by the traders.
What are the minimum and maximum trade sizes?
Minimum trade size – 0.01 lots and maximum trade size – 1,000 lots
What are your spreads?
Spreads vary according to the market condition.
EagleFX is a well-established broker having thousands of clients who like trading different instruments with them. The broker allows round-the-clock trading of cryptocurrencies. Traders enjoy trading with EagleFX, thanks to powerful trading platforms, tight spreads, and reliable execution speeds combined with many useful trading tools.