EagleFX Review: Is it legit, safe and trustworthy for UAE citizens and residents?
Because spreads and fees will be associated with every trading product, it is
essential for you as a trader to have a solid understanding of how much each
individual trade will cost you. Because smaller time frame traders often receive
a lesser pip payout for each trade, spreads and fees are of much greater
significance for these traders. EagleFx is a STP/ECN broker that offers
incredibly cheap costs and spreads that are exceedingly tight, giving it a
fantastic environment in which to trade. Because they are not a market maker,
they do not engage in any pricing or spread manipulation in an effort to
discourage trading. Instead, they simply forward your order to the liquidity
providers they work with. Visit EagleFX
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The trading circumstances that are provided by EagleFx are ideal for forex traders, particularly novices and scalpers who are just starting out. When it comes to conditions, this broker is genuinely exceptional because of its low spreads, access to tier 1 liquidity, swift execution speeds, and huge leverage. It is an excellent platform for beginners to experiment and learn on because the minimum investment required is only $10. Beginners may benefit from this.
The majority of forex brokers are subject to regulation by regulating organizations, which means that they must adhere to several stringent laws and regulations. Because of these restrictions, the broker, and more crucially, the customers, are protected from a variety of possible dangers. These dangers include not making payments, engaging in stop hunts, being subjected to unjust terms, and not providing clients with fund insurance or protection.
EagleFx is fully unregulated by any monetary authority despite having its headquarters in Dominica, which is part of the Commonwealth of Dominica. This indicates that your financial resources are at danger when working with this broker, and you run the risk of becoming a victim of unfair trading conditions and a lack of protection from regulatory organizations in the event that the broker defrauds you.
The broker employs Bitcoin Cold Storage to protect customer assets despite the fact that it is not subject to any regulatory oversight. Because this takes place entirely offline, the bitcoins in question are inaccessible to cybercriminals; as a result, the security of the money should be improved. Having said that, the funds belonging to customers are not backed or guaranteed by any regulating organization or authority, which indicates that they are subject to every possible danger.
Is EagleFx a fraudulent company? They are not a fraud, but there is a far greater potential for loss when compared to authorized brokers. People choose this broker because of its offshore location, which allows it to provide a big leverage of 1:500 to its customers and accept customers from countries that other brokers prohibit them from doing business with. You are much better off utilizing a forex broker that is licensed and also offers deposit insurance for customers. This way, you can rest certain that your money will be protected, and you won't have to deal with any unfavorable terms or problems withdrawing your funds.
Because retail forex traders spend so much time each day and week staring at our screens in search of the finest opportunities to trade, it is very essential for us to make use of a trading platform that provides us with the best possible odds of being successful. So, what kinds of platforms are available to traders that use EagleFx? They make MetaTrader4 available for use on personal computers, mobile devices, and online traders, so that it is reachable by all customers.
Since I've been trading forex for the past five years, I can confidently say that MT4 is the platform that has the most users worldwide. It does not feature a lot of sophisticated capabilities for charting or order execution, but that is precisely one of the reasons why traders like it so much - the platform's overall straightforwardness. On a fundamental level, MT4 provides everything you could possibly want, including order execution, a lot size calculator, straightforward charting tools, indications, expert advisors, and several time frames.
It's a shame that Eaglefx only offers MT4, since many traders, like myself, really prefer the newer, more up-to-date platforms. It's a bad that Eaglefx only offers MT4, because it's a shame that Eaglefx only offers MT4. If you are just using MT4, my recommendation is that you switch to Tradingview.
Because this broker provides its customers with such a comprehensive selection of the most common deposit and withdrawal methods including one that is unavailable at the majority of other brokersit is the preferred option for certain retail traders. These are the ways currently available for deposits:
Transfer Via Wire
The following ways can be used to withdraw funds: bitcoin, paypal, coinbase, and prepaid debit cards.
The lowest amount that may be deposited using any of these ways is ten dollars, and there are NO FEES associated with any of them. EagleFx. is an excellent option for novice traders who want to hone their abilities without making a significant financial commitment due to the fact that they need such a little minimum deposit, in addition to the fact that they accept both PayPal and Bitcoin as payment methods.
The fact that they are able to conduct bitcoin transactions thanks to the fact that they are an offshore broker is a big benefit for some traders.
There are no fees associated with withdrawals, and the customer service team reviews withdrawal requests on an hourly basis in order to fulfill them as swiftly as humanly feasible.
In general, withdrawals are handled within 24 hours, but if yours is taking longer than that, you should contact the support service via live chat, which is available around the clock, to find out the status of your money. According to traders' reports, which I've gleaned both from my personal experience and through my study on online forums, withdrawals are processed quite quickly.
When there is a problem, there are several different ways to get in touch with EagleFx in order to receive customer service from the company. It's good to know that this isn't one of those brokers where it's nearly hard to get in contact with them for support because I've used brokers in the past when that was the case.
The website includes a live chat facility that is available around the clock, making it likely the simplest and most expedient way to communicate with the broker. There are other ways to get in touch with the support staff, and although I've only used it twice so far, both times the customer service representatives were quite quick to respond and helpful.
Chat available around the clock.
Creating a ticket for customer support (15 minute response time)
Making a request for a phone call
Dominica, Commonwealth of: Address: 8 Copthall, Roseau Valley: 00152 Country: Dominica
As you can see, there is a large variety of ways to get in touch with someone; yet, unfortunately, there is neither an email address nor a phone number that you may use to get assistance. When a broker does not post a phone number for consumers to contact, I find it a little concerning; yet, if they do give a call back option, this indicates that they must have people genuinely working on a premises. Does the absence of a phone number on the EagleFx website imply that the company is fraudulent? No, of course not; yet, you should keep this in mind since it is important.
It is wonderful that forums now have reviews from thousands of traders from all over the world. This enables us to truly see if our experiences with a broker are the same across the board. The retail forex market has exploded over the past few years, and as a result, forums now have reviews from traders from all over the world.
It is rather unusual to find an unregulated broker with a reputation as positive as this one has online in trading groups. This broker has a really outstanding reputation online. On ForexPeaceArmy, they have been given a score of four out of five stars, and there are a reasonable number of reviews from traders who are pleased with the terms and have no issues.
This data collection is not the most credible we have come across because there are not currently a great number of reviews available at this relatively new broker. Traders that give a broker only one star are often complaining about the spreads and claiming that the broker is unfairly keeping them from participating in certain markets. Because EagleFx is a STP broker, which means they have no influence whatsoever on the spread or price of the commodity being traded, and because the information is coming directly from their liquidity sources, I am unable to confirm whether or not this is accurate. Bear in mind that many inexperienced traders have absolutely no concept of the bid/ask spread.
In a nutshell, due to the fact that it is not regulated by any monetary agency, EagleFx is a broker that carries a high level of risk. This is a highly appealing broker for traders since it offers a leverage of 1:500, minimal fees, a low minimum deposit requirement, and a variety of outstanding financing choices. Since it first began in 2019, it also has a reputation that is almost entirely spotless. Having said that, the broker is still unregistered, which means there is a significant amount of risk involved. Traders should always trade with registered brokers so that their capital is at a lower risk of being stolen or lost due to fraud, unfair conditions, manipulation, and so on.
Trading in foreign exchange (FX) and contracts for difference (CFDs) are both
available through EagleFX's MT4 platform. If you follow this review, you will
have a detailed explanation of the steps involved in the verification procedure,
as well as information on the commissions, minimum deposits, and demo accounts.
Is EagleFX a regulated company or a fraudulent operation?
EagleFX Ltd. is a Straight Through Processing (STP) brokerage that has won many awards and has its headquarters in Dominica. The broker is utilized by tens of thousands of traders on a global scale, ranging from Indonesia to Nigeria. The supplier provides desirable ECN trading circumstances in addition to incredibly quick execution rates. Additionally, articles on the firm have been published in respected magazines such as Forbes and Finance Magnates.
Users who register for the broker's single account get access to the industry's most popular trading platform, MetaTrader 4, allowing them to trade on a broad selection of assets around the clock. The company's owner and chief executive officer have also launched online poker games for the site's customers.
EagleFX makes available to all of its clients the MT4 platform, which includes a variety of analytical tools and dynamic charting capabilities. Because of the intuitive and powerful user interface, you may place trade orders directly from the chart with only the click of a button.
Traders have access to three different modes of execution, as well as pending orders, trailing stops, and a collection of other order types. Additionally, MT4 provides in-depth price research by providing access to over 50 different indicators and graphical elements, in addition to 9 distinct time periods and a news feed.
MT4 may be downloaded on computers running Windows, or it can be viewed straight from a web browser on Mac machines. Both options are available to users.
At EagleFX, you may trade in a wide variety of assets, including the following:
There are a total of 38 possible pairs of cryptocurrencies, including Bitcoin, Ethereum, and Ripple.
Precious metals and energy sources, such as gold, silver, and oil, are examples of commodities.
The Foreign Exchange market has a total of 55 currency pairings available, including major, minor, and exotic options.
Indexes are composed of 11 well-known indices, such as the NASDAQ and the FTSE (FTSE100) (NAS100)
Among the sixty-four worldwide corporations represented by stocks are Amazon and Netflix.
Prices, Commissions, and Spreads
At EagleFX, live spreads may be adjusted as needed and begin at 0.1 pip increments. The typical spread on the EUR/USD currency pair is 0.7 pips, while the spread on the NASDAQ is 1.12 pips.
In addition, EagleFX levies fees at a rate of $6 each lot round turn. In general, the trading conditions offered by this broker are competitive and on level with those offered by other brokers such as XM, HugosWay, and Oanda.
Swaps, which are levied when you hold open deals overnight, are the only additional costs that you will be responsible for paying.
The considerable leverage offered by EagleFX for forex and commodities trading is up to 1:500. The maximum leverage that can be used to indices and energies is 1:200, whereas the maximum leverage that can be applied to cryptocurrencies is 1:100. Before opening an account, users need to be sure they fully understand the implications of using leverage.
The MT4 mobile app is available for download on both iOS and Android smartphones through EagleFX. The application contains a comprehensive set of analytical tools, including real-time quotations and trading that can be performed directly from the chart. The user interface is intuitive and pleasing to the eye, making it simple to move about. The software is accessible in more than 20 different languages, and both the reviews and ratings that can be found online are positive.
The iOS and APK versions of the software are both available for download from the App Store or Google Play, respectively.
Bitcoin, Visa/MasterCard, and wire transfers are the three means of payment that EagleFX makes available to its customers. There are no costs associated with deposits, and the minimum deposit amount is $50 for cards or bank wires, but only $10 for Bitcoin deposits.
Bitcoin, Coinbase/PayPal, and MasterCard are the options for withdrawing funds from your account. Once more, there are no fees associated with these withdrawals, and the processing time is often under an hour. The minimum amount required to withdraw using Bitcoin is 10 USD, EUR, or GBP. There is no cap on the amount that can be withdrawn.
EagleFX provides its users with a free demo account that can be utilized for an indefinite amount of time. Within the MT4 simulation, traders have the ability to customize both their leverage and the limit placed on their virtual funds. Demo accounts are extremely helpful for novice investors because they enable them to practice trading without risking their own money. Demo accounts are not limited to novice traders; even experienced traders may use them to hone their trading methods. After you have completed all of the necessary steps, you may then establish a genuine live trading account.
In 2022, EagleFX will not be providing any discounts or promotions comparable to no deposit bonus offerings. Traders might look for upcoming deals by checking the broker's website and the members' part of the website. Before you begin trading, you should always check the bonus conditions and criteria.
Dominica-based EagleFX is an unlicensed foreign exchange broker. Traders need to be aware that unregulated companies typically do not offer much or any customer protection at all. As a consequence of this, we are unable to guarantee that EagleFX is a legitimate broker.
Despite this, EagleFX makes clear that it protects customer assets through the utilization of Bitcoin Cold Storage. This guarantees that customer money is not held on the broker's web server but rather on an external storage device, which is protected from cybercriminals unlike the broker's web server.
EagleFX does not provide any instructional resources or trading advice, with the exception of a daily overview of the market. In order for EagleFX to compete with other brokers like Oanda, the company may incorporate helpful resources like video lessons and margin calculators onto its platform.
EagleFX provides a single, basic account type to all of its customers, and the company's minimum deposit requirement is only ten dollars. The smallest possible lot size is 0.01, and the most amount that may be traded is 1,000 lots. In addition, Islamic traders can take advantage of the broker's swap-free accounts.
You may create a live account quickly by registering with the use of an online form, after which you will need to validate your email address and phone number. Since there is no KYC verification procedure, dealers are not required to provide any documentation under any circumstances. After that, you will be able to begin trading after logging in to the member's area.
Creating an account is beneficial for the following reasons:
Poker community being funded by bitcoin with a $10 minimum deposit
The Volatility Index (VIX) for the Top 75
Both deposits and withdrawals are completely free.
A diverse selection of cryptographic assets
However, we did find a few problems, including the following:
Restriction based on country
Absolutely no teaching aids
Trading Hours That Are Not Regulated
The markets for forex and crypto are open around the clock, twenty-four hours a day, five days a week. In MT4, the trading sessions for certain assets may be located in the section labeled "specifications." All of the market hours are shown in GMT+3, although the frequently asked questions section of the broker's website contains a link to a handy time zone converter.
Using EagleFX's live chat support, which is available around the clock, is the quickest method to get in touch with the company. You can also file a ticket through the website, where replies are normally received within fifteen minutes of its being posted. You have the option of submitting your phone number and requesting a call-back from one of the team members within the next four hours if you would rather talk to a member of the team over the phone.
The address of the broker's office is as follows: 8 Copthall, Roseau Valley 00152, Commonwealth of Dominica.
EagleFX makes certain that the MT4 platform satisfies the most stringent of security requirements by ensuring that all data sent between servers is encrypted. Both digital signatures and Two-Factor Authentication (2FA) at the login page are supported by the platform, which also enables the usage of digital signatures.
Our investigation has uncovered a few noteworthy benefits and drawbacks associated with trading with EagleFX. The broker has competitive commission rates, does not charge any fees for deposits or withdrawals, and has a modest minimum deposit requirement of only ten dollars. EagleFX is without a doubt a fantastic broker for traders of any level; however, there are many more licensed brokers available for those who would want a little bit more piece of mind.
EagleFX welcomes traders from the majority of countries around the world, including Australia, Thailand, Canada, the United States of America, the United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, the United Arab Emirates, Saudi Arabia, Kuwait, and Luxembourg.
If you are interested in finding other brokers to trade with than EagleFX, we have produced a list of the top 5 brokers that are comparable to EagleFX and have included it below. This list of brokers that are similar to EagleFX is arranged in order of similarity, and it only contains businesses that are willing to work with traders based in your location.
EagleFX welcomes customers from all around the world, including the United States and the United Kingdom. Traders will, however, be responsible for ensuring that their country's laws and regulations do not prohibit them from registering their businesses.
There are no welcome deposit bonuses or other types of promotional deals available via EagleFX.
EagleFX is a legitimate organization that has been highlighted in a number of reputable sources. Additionally, good evaluations from customers may be seen on the website of the broker.
EagleFX does not possess a regulatory license, and as a result, it is unable to give the same degree of protection as other providers who are regulated by reputable regulatory agencies like the FCA or CySEC.
EagleFX does not provide accounts in the South African Rand currency; nevertheless, you are able to establish accounts in US Dollars, Euros, British Pounds, or Bitcoin.
Is NASDAQ trading available with EagleFX? Yes, customers are allowed to trade on the NASDAQ as well as a few other major exchanges in the world.
EagleFx is an ECN/STP forex trading broker that was established in 2019, and its headquarters can be found in Dominica, Commonwealth of. On the MT4 trading platform, they presently provide 55 different foreign currencies, 30 different cryptocurrencies, and 11 different indices to trade. They provide a leverage of 1:500 along with tier 1 liquidity, outstanding spreads, an impeccable reputation, and a cheap minimum deposit of only $10, which makes them an excellent prospective broker for newbie traders.
They have their headquarters at 8 Copthall, Roseau Valley 00152, The Commonwealth of Dominica, and they are not controlled by any financial regulating agency. As a result, they are in a position to provide clients with enormous leverage as well as crypto funding alternatives.
EagleFx is an offshore company, which means it is fully unregulated. As a result, the company is able to provide its customers with a massive maximum leverage of 1:500 on forex pairs, cryptocurrencies, and indices. Traders are drawn to the broker because of this massive leverage, which gives them the opportunity to possibly increase their accounts quickly. I feel obligated to point you that leverage is unquestionably a two-edged sword since it enables you to put a significant proportion of your total capital at risk on each transaction, which may either work in your favor or against you.
The provision of 55 currency pairs, 30 cryptos, and 11 indices is sufficient to fulfill the requirements of each and every retail trader. Because the majority of traders simply focus on the majors, a select few minors, and perhaps one or two crypto pairs, this product offering ought to be quite adequate for their needs. Whether you trade in a very specialized market, it is in your best interest to get in touch with their support team, which is available around the clock, to find out if they provide access to trading in that market.
Traders and investors in today's market are able to purchase and sell
tradable assets with the simple press of a button on their computer. You will be
able to avoid the hefty commissions that are typically imposed by dishonest
money managers and do business without having to leave the convenience of your
own home. If you want to locate the most dependable online brokerage platform,
the most difficult challenge you will encounter is locating the one that is
tailored to your specific requirements and preferences. The unfortunate reality
is that internet is such a large region that locating a trustworthy and
appropriate one is like to seeking for a needle in a haystack.
However, EagleFX may be the greatest one out there for traders of all skill sets, ranging from the novice level all the way up to the more sophisticated and expert ones. This is because EagleFX caters to traders at all stages of their trading careers. They provide the greatest online tools and functions for everyone who is interested in giving it a try and is ready to do so.
We have over nine years of expertise and have conducted a comprehensive review of the platform as well as the services that it offers. After you have finished reading this evaluation, you will be aware of the facts concerning it. After then, it is up to you to determine whether or not you are going to make use of it.
EagleFX is one of the more recent foreign exchange and CFD (Contract for Differences) brokerage businesses that emerged on the market in 2018. EagleFX is one of the companies that made a splash in the financial industry in 2018. The Commonwealth of Dominica, a small island nation located in the eastern Caribbean Sea, serves as the organization's primary base of operations.
They may have been late to the brokerage game, but they have managed to carve out a place for themselves in the world of foreign exchange and build a reputation for themselves as one of the most extensive and user-friendly trading platforms available anywhere in the globe. EagleFX has formed strategic alliances with high-ranking investment banks and affiliates that work with dark pools of liquidity to ensure that their clients have access to and may participate in the most advantageous forms of online trading. Customers were able to have access to the most advantageous prices and narrow spreads as a result of the various partnerships that were in place.
Because of an innovative component known as Straight-Through Processing (STP), EagleFX's trading platform is renowned for its lightning-fast transaction speeds. It makes possible the simplification and speedy completion of what may otherwise be a laborious and difficult task related to commerce. Re-quotes are not required, there is no need for a trading desk, and there is no time to manipulate the price. To put this into perspective, the EagleFX platform analyzes the information that is kept about the various liquidity providers, then compares each offer rate to determine which one produces the highest output. The entire difficult procedure takes place in a single split second, and as a result, you are able to earn a lot of money.
At the moment, EagleFX does not own any sort of regulatory license, issued by any sort of regulatory body.
However, they have taken precautions in order to safeguard the monies belonging to their customers. The phrase "Bitcoin Cold Storage" refers to one way that may be used by traders who like to trade with cryptocurrencies. It indicates that your digital money is not kept on the internet servers of EagleFX or on any other computer. Instead, it is kept in an external device, which is protected from online dangers such as hackers.
When high, relatively higher leverage rates are used, there is a possibility that the accounts of customers may be put at danger. EagleFX is aware of this, and as a result, it offers security in the form of a potent negative balance. In essence, it protects the clients' positions from suffering significant losses. In the absence of establishing this, if you have taken a position with leverage and the transaction continues to go wrong, you run the risk of losing all of the money that have been amassed in your account. EagleFX will promptly halt and close the position you are in the moment it detects that the balance in your account has reached zero. If you proceed in this manner, you will be required to pay for extra losses.
The possibility of losing all of your money is eliminated as soon as your account is set up and a sizeable negative balance is established as a safeguard. In addition, the money belonging to the customers is kept in separate accounts and can only be accessed by using a two-factor authentication method, which greatly increases the level of security and protection afforded to it.
Last but not least, there is something called a "customer compensation fund." It is the very final option available to the customers. You have the ability to start a disagreement if you find yourself in a situation where you are not to blame for the wrongdoing that occurred. After it has been determined that you have been mistreated in any way, you are eligible to get compensation for the damages you have sustained.
EagleFX offers a wide variety of tradable assets, including the following:
You deal in commodities, which include precious metals and other forms of energy, such as oil and natural gas produced in the United States (like copper, silver, and gold).
You have the ability to trade in over thirty-eight different currency pairings, including cryptocurrencies such as Ripple, Bitcoin, and Ethereum.
Forex: They provide access to fifty-five different currency pairs, which range from exotic to small to big currencies.
Equities: There are tradable stocks available from well-known firms from all over the world, such as Amazon and Netflix, which may be bought and sold.
There are eleven different indexes, such as the NASDAQ or NAS100, as well as the FTSE or FTSE100.
The markets for foreign exchange are open around the clock, five days a week, but cryptocurrency trading is possible around the clock, every day of the week. Specific trading sessions may be located in the MT4 tool's specs menu by using the "Specifications" option. The GMT+3 time zone is utilized by all of the financial markets.
Because EagleFX is still relatively young in the foreign exchange market, it is necessary for the company to offer spreads that are among the most competitive in the industry in order to attract potential customers and establish a trustworthy reputation. In point of fact, EagleFX has done so to a far higher degree, and as a consequence, their reputation has flourished. They started off by offering spreads that were actually competitive using a mechanism called STP, which stands for straight through processing and is an electronic method that enables financial institutions to complete transactions more quickly. It helps reduce market liquidity and volatility, which are the two primary factors that have the most impact on the spreads that are used in foreign exchange and CFD trading.
The traders are able to benefit from extremely narrow spreads thanks to this approach, even when market conditions are exceedingly unstable. Scalpers, day traders, and traders who deal with political and economic events are some of the numerous sorts of traders that may gain from using it. After that, EagleFX provides variable spreads available, which implies that the spreads are always shifting in response to the chaotic behavior of the market.
The live spreads start at 0.1 pips and are subject to alter at any time. Spreads for the EUR/USD pair are normally 0.7 pips, while those on NASDAQ are 1.2. Each round turn of a lot results in a commission fee of six dollars being paid. The spreads and commissions offered here are among the most competitive available.
Regarding the costs that may be incurred, EagleFX does not impose any fees on withdrawals, deposits, or periods of inactivity. Swap costs are charged anytime there is an overnight open trade, and their amount varies according to the type of asset being traded. Swap fees are always implemented. A number of other online brokerage services do, in fact, charge commissions in addition to various hidden expenses. EagleFX does use hidden fees, however the company is pleased that its spreads are far smaller than those of their competitors.
EagleFX gives clients a generous amount of leverage, up to 1:500, to use while trading precious metals and forex. The leverage for energies and indices is 1:200, while for cryptocurrencies it is just 1:100. Before creating an account, traders need to be aware that using leverage might have negative effects on their investments.
MT4, also known as EagleFX's Meta Trader 4, is a terrific product that has been used by a variety of online platforms and has been recognized with a number of accolades. Numerous potent features, such as interactive charts, technical indicators, and analytical tools, are included. These are essential not just for the trader with some expertise but also for the one with less. You may place orders to trade immediately from the chart by using this powerful and user-friendly interface, which only requires one click of the mouse.
You can trade no matter where you are as long as you have MT4 for Android or iOS devices or you may trade directly from a browser. You don't even need to download or install a WebTrader program in order to do so. You have the ability to choose from three different execution options, such as Execution by Market, Instant Execution, and Execution by Request, and the site also provides you with other features that you may go over at your leisure. Price analysis, built-in tick charts, a news feed, and other ultra-fast trading operations are just some of the many additional tools that are available. These capabilities are regarded as absolutely necessary for traders of varying degrees of expertise.
Indicators of a technical nature are those that are based on the compilation of data from previously completed market transactions. Traders use technical analysis with this data in order to forecast future patterns in the foreign exchange market. They illustrate whether a given trend is becoming more pronounced or becoming less prominent.
The MT4 platform provides traders with access to thirty different indicators and twenty-four different visual elements. These make it possible to conduct an exhaustive investigation of pricing changes. You may put its skilled talents to use by analyzing the fluctuations that occur in the foreign exchange market. Determine the best possible moment to engage in trading using this method.
There is no need for you to be concerned about the level of security that MT4 possesses within the EagleFX platform, despite the fact that you may be curious about it. It maintains the highest encryption standard possible for its server infrastructure. In addition to that, it supports the utilization of digital signatures. Your private information and online accounts have a high level of security to ward off any potential dangers posed by the internet. MT4 is available for download on Windows operating systems. Additionally, users of Macintosh computers may access it directly from their web browsers. It is also downloadable via a mobile app, which is something that will be covered in the following section of this article.
You may get the MT4 platform by downloading it from Google Play or the App Store, depending on whether your smartphone is an Android or an iOS one. You can also have access to the same tools and capabilities directly from the website, in addition to live quotations and trading that can be done immediately from the chart. It boasts eye-catching aesthetics and a user interface that is simple and uncomplicated to navigate. It has received positive comments and reviews on several internet forums, and it is presently translated into twenty other languages.
EagleFX provides its clients with only a single option for an account type to choose from. There is a mandatory ten dollar initial deposit that must be made. There is a minimum lot size of 0.01 and a maximum deal size of 1.000 for this market. In addition, EagleFX offers swap-free accounts, however these accounts are exclusively available to those who follow Islamic law.
When you sign up for a real-money account, you won't have to worry about any complications. It is not difficult at all. Try looking for a tab labeled "Open Live Account" towards the bottom of the website, or for a link in the upper right corner of the screen. It will take you to a web form in which you will be required to provide your contact information, such as your name, email address, and other relevant information. Since there is no procedure involved in confirming, you do not need to provide any papers because you will not be required to do so. When you have provided the first deposit, you will then be able to start trading.
Creating an account with EagleFX may be done in a few easy steps, which are as follows:
On the homepage, in the upper right-hand corner, you'll see a link that says "Open Live Account."
Complete the required fields with your personal information. The most important part is an email address, which then generates a one-of-a-kind password.
To activate the account, you will need to log in to the control panel and fill out all of the data.
After everything else is finished, check the box that says "Open Trading Account," and then conclude the registration procedure. Choose the type of account you want, the currency you like, and the ratio of the leverage amount you want to use. The next step is to select the option labeled "Open Trading Account."
A message pertaining to your log-in credentials will be sent to the email address that you provided. Remember to save those details, since you won't be able to access your account without them.
You have the option of downloading the MT4 utility onto your mobile phone or the desktop of your PC. You are able to make use of it straight through the Web Trader platform that is located on the website.
Enter your login information that was previously saved, and then choose the sort of server you want to access, either a demo account or a real account.
To add funds to your account, navigate to the "make a deposit" option and choose the appropriate payment method from the drop-down menu. The bare minimum required from you is 10 bucks, and that must be deposited.
If you are still unsure about your capabilities as a trader, EagleFX provides new traders with a demo account that may help increase their self-assurance and get them ready to trade for real. You can employ it for an endless duration. It is all a simulation, and no actual money is being used in any of it. You have the ability to make adjustments in the MT4 tool, such as entering a different leverage and deposit amount.
It is especially useful for novice traders since it gives them the opportunity to thoroughly exercise and test all of the system features and replicate trading techniques without the risk of losing actual money. This is a huge benefit for novice traders. When you feel that you are ready to start genuine trading, you may go ahead and establish a live account so that you can begin trading for real.
The Affiliate Program is a more recent addition to the EagleFX platform, and it is one of the features that has the ability to pique the interest of prospective clients. To put it more succinctly, it is a referral system, which means that you may create profits by locating a large number of individuals and convincing them to join up for the platform.
To provide a further explanation, it is a multi-tiered program that was specifically designed to make it simple for their so-called "affiliates" to recommend EagleFX to other people who are interested in trading. If you are successful with this endeavor, you will be able to get rewards on a monthly basis. Additionally, it gives you the option to monitor your profit at any time through a back-office account that you can access whenever you choose. The Affiliate Program has a fairly straightforward method of operation. EagleFX has given you a link that can only be accessed by you and no one else on the planet. If prospective customers are interested, they should join up by following the link that you provided. You are eligible for a commission each time one of your recruits, who is referred to as a "affiliate," begins trading for real money. The story does not end here; rather, it continues into a multi-tiered affiliate marketing structure.
If you are at the very top of the pyramid, you have the opportunity to make a significant amount of money with this technique. If your sub-affiliates are successful in recruiting new affiliates, and those new affiliates recruit new signups, the cycle can continue indefinitely. You are able to maintain your position at the top without making any effort at all since your signees will do all of the work. Large commissions are potentially available to you as a result of the tier structure, which reaches five layers of sub-affiliates below you. You will earn four dollars every time a new trader clicks on the special link that you provide, creates an account, and starts trading.
According to this structure, the "Master Affiliate" will continue to accrue earnings all the way up to the fifth level, which is referred to as tier 5. If you are successful in recruiting customers and reach tier five, the commission that was previously four dollars per traded lot will increase to five dollars. This will last you for the rest of your life, provided that your affiliates maintain their activity on the EagleFX platform in the form of trading and income generation. It will be deposited into your MT4 account on the 4th of every month.
The following is a list of the most important participants in the system:
This type of trader is considered to be at the very top of the food chain and is equivalent to a monarch. The "master" plans to sign up as many affiliates as possible so that they may increase the amount of commission they receive. The master will receive four dollars in profit for each lot that is traded, and he or she will be able to cash out their earnings once every month. If the master was successful in signing a large number of recruits and each of them started trading, then the master would no longer need to trade himself and could instead wait for commissions to be added to his account.
Affiliate This type of trader is known as an IB, which stands for "introducing broker," and acts as a representative for EagleFX by bringing in new customers.
As a trader, he is responsible for the buying and selling of various indexes, currencies, and cryptocurrencies.
The following is a breakdown of the affiliate commission rate across all five tiers:
Tier 1: $4 per lot traded
Tier 2: $0.50 per lot traded
Tier 3: $0.30 per lot exchanged
Tier 4: $0.15 per lot exchanged
Tier 5: $0.05 per lot exchanged
The Master Affiliate is the one who generates the one-of-a-kind link, then distributes it to various recruits and offers it to them.
One investor (IB1) finds the Master Affiliate link, clicks on it, is sent to the website, and registers for an account with EagleFX there. When IB1 begins trading, the Master Affiliate immediately receives $4.00 each lot loaded.
IB1 is short for "another potential affiliate who wants to join," and this individual will eventually become IB2. The Master Affiliate is eligible to receive a payment equal to 12.5 percent, or $0.50, of each lot that is exchanged.
Another affiliate to join is referred to as IB2, and once they do, they are considered IB3. The Master Affiliate will get a portion of the lot sold equal to 12.5 percent, or $0.30.
IB3 invites another person to join, which results in IB4 being created. The Master Affiliate will earn 3.75 percent of the total revenue, or $0.15, for each lot that is exchanged. IB4 refers to another participant who joins in and becomes 1B5. The Master Affiliate will receive 1.25 percent, or $0.05, of the amount of the lot that is loaded.
This is only a high-level overview of the many components that make up the commission structure of the Master Affiliate. When an Independent Business owner invites another Independent Business owner, he immediately creates a multi-tiered structure in which he serves as the Master Affiliate.
Once you have signed up for the Affiliate Program and established a one-of-a-kind link, you will be provided with an abundance of promotional materials to use in conjunction with it, including the following:
Email format examples
a leaflet with information on EagleFX
Banners that do not move
Banners with animation
You are already aware of the minimum deposit requirement, which is ten dollars in United States money or its equivalent in another country's currency. Your selected way of putting funds into your EagleFX account will determine whether or not there are limits placed on the amount you may deposit into your account each month. For instance, the maximum deposit allowed while using a debit or credit card is $5,000. This applies to all transactions.
Methods of financing include the following:
Bitcoin requires a minimum investment of ten dollars from users.
Either a Visa or a Mastercard with a minimum deposit of fifty dollars is required for use of the credit card.
The minimum deposit required to use the wire transfer option is fifty dollars.
EagleFX does not impose deposit fees.
If you have enough money in your account to withdraw, the entire withdrawal procedure will take place on the same day as the depositing process, regardless of how much money you have in your account. Because the EagleFX system needs that amount of time to complete and evaluate the transaction, the time it takes to withdraw bitcoins will be thirty minutes.
You may get started with the withdrawal procedure by going to your dashboard and selecting the "Make a Withdrawal" link from there. Choose one of the following options from the available methods:
Prepaid Mastercard, Bitcoin, or PayPal, or Coinbase as a Cryptocurrency Exchange.
EagleFX does not impose any costs associated with withdrawals. When using Bitcoin, the lowest amount that may be withdrawn is ten dollars, but there is no cap on the total amount that can be taken out.
When compared to other online platforms, EagleFX's customer service is a breath of fresh air due to its very high level of effectiveness. It is accessible at any time of day or night, seven days a week, round the clock. The following are the several ways to get in touch with them:
Tweets by FXStreetNews
Tweets by financemagnates
Tweets by CoinMarketCap
Live chat is their favorite means of communication, since it is also the quickest way to reach them. You are free to ask any question you have concerning your account or trading in general, and you will receive a response in real time. Find the message symbol in blue, which is located in the bottom right corner of the home screen, and then click on it to begin the conversation.
Alternatively, if you do not have time to chat, you may send an email to EagleFX email support, and someone will get back to you within fifteen minutes. To get started with the procedure, look for the option that says "Submit a Ticket."
To make a phone call request, click on the "Call Me" tab if it would be more convenient for you to speak with someone over the phone. The team from EagleFX will contact you within the next three to four hours.
Despite the fact that EagleFX has only been in the online brokerage business for a very short period of time, the company has quickly gained reputation and established itself as a leader in its field. They built a reputation for themselves by providing the most user-friendly website and the most efficient ways possible to generate income through internet trading.
They were successful in implementing their forward-thinking concept by establishing it as the leading trading platform, which is still unequaled. When it comes to making money from trading cryptocurrencies, this is the greatest spot to do it if you have Bitcoin. You are in the proper location at this time. The EagleFX platform will not let you down and will provide you with the supplemental income you require during these challenging times. What exactly are you looking forward to?
The advantages of owning an EagleFX are manifold, and they include the following:
Internet games like poker
Making use of Bitcoin as a form of online funding
The bare minimum to open an account is 10 bucks.
There are no costs associated with deposits or withdrawals (VIX) Index of Volatility of 75
EagleFX is not particularly regulated, which is one of the aspects in which they need to improve.
There are no instructional materials
Restriction based on country
Sites like EagleFX in the UAE
Here is a list of quality Forex, CFD, Stock and Crypto Brokers for new and professional traders living in the UAE:
- Olymp Trade - People simply love this one (Olymp Trade Review)
- Binance - World's largest cryptocurrency e-wallet and exchange that also has an online trading platform, where their members can invest or trade in virtually hundreds of cryptocurrencies and new tokens. (Binance Review)
- IG Markets UAE - UK broker located at Tower 2, Level 27, Al Fattan Currency House, DIFC. (IG Markets UAE Review)
- City Index Middle East - London-city broker with a branch in the UAE. (City Index Middle East Review)
- eToro - Social trading platform, but much better options are available out there. (eToro Review)
- IQ Option - It's a below-average broker with no Dubai office, but does have a toll-free virtual number for UAE: 800 032 0891 -> No Arabic, English only. (IQ Option Review)
Reviewed by Arpita Singh
Arpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.