Economy
ATFX Broker | Comprehensive Review Compiled By Forex Specialists
In the ever-evolving landscape of Forex and CFD trading, selecting the right broker can be a daunting task. Today, our focus will be on a renowned player in the industry as we seek to answer a critical question: “ATFX broker review” – how does it hold up? This topic is crucial for optimizing trading conditions, safety, and overall trading experience.
Traders Union recently published a comprehensive ATFX broker review, unveiling several key insights about this broker’s offerings. This review discusses ATFX’s background, advantages, disadvantages, influential parameters, trading conditions, and commissions & fees.
What is ATFX broker?
According to Traders Union experts, ATFX is a Forex and CFD broker under the umbrella of AT Global Markets, a globally recognized investment holding company. ATFX operates under several international regulatory bodies, including the FCA (UK), CySEC (Cyprus), FSC (Mauritius), and FSA (Saint Vincent and the Grenadines). The broker extends advantageous trading conditions for both active traders and passive investors. Furthermore, the quality of ATFX’s services has been acknowledged by numerous accolades, including the “Fastest Growing Forex Broker in Europe” in 2017 and the “Best Forex CFD Broker” award from UK Forex Awards in 2018.
Advantages and disadvantages of ATFX
Traders Union experts have highlighted the following advantages and disadvantages of ATFX:
Advantages:
- Multiple Licenses from International Regulators: ATFX is a globally regulated entity, holding licenses from renowned international regulators, enhancing its reliability and trustworthiness.
- Attractive Trading Conditions for Professional Traders and Substantial Investors: With tailored trading conditions, ATFX caters effectively to the needs of professional traders and substantial investors, offering a conducive trading environment.
- Opportunities to Invest in PAMM Accounts and Copy Trades: ATFX allows its users to invest in PAMM accounts and utilize their proprietary platform for copy trading, adding to the diversity of its offerings.
Disadvantages:
- No Cent Accounts Available: The absence of cent accounts limits the options for novice traders to test and familiarize themselves with the platform and trading conditions without significant investment.
- High Minimum Deposit on Standard Accounts: The high minimum deposit on standard accounts may pose a barrier to entry for some traders, particularly beginners with limited capital.
- Bonuses Not Universally Available: Bonuses can incentivize trading activity; however, their non-universal availability might disappoint some traders seeking added value.
- Broader Market Spreads on Standard Accounts: The wider market spreads on standard accounts can inflate trading costs, especially for those engaging in high-frequency trading strategies.
- Limited Variety of Partnership Programs: The limited range of partnership programs may restrict opportunities for collaborative growth and additional income streams for traders.
Evaluation of the most influential parameters of ATFX
The Traders Union experts evaluated ATFX on several key parameters:
- User Satisfaction: 3.67/10
- Regulation and Safety: 3.96/10
- Commissions and Fees: 3.6/10
- Variety of Instruments: 3.38/10
- Brand Popularity: 3.54/10
- Customer Support Work: 3.9/10
- Education: 4.12/10
Trading conditions for ATFX users
Traders Union experts assert that ATFX’s trading conditions are particularly attractive for professionals and traders with a considerable equity volume. The minimum deposit is $250, a relatively high entry barrier for novice traders. Further, the lack of cent accounts impedes traders from testing the conditions with minimal investment. Standard account spreads range from 1-1.8 pips, a factor that may deter high-frequency strategy traders.
ATFX commissions & fees
Traders Union experts delved deep into ATFX’s trading conditions to reveal transparent and hidden fees. ATFX charges a spread. If the withdrawal amount to a debit/credit card or electronic wallet is less than USD/EUR 100, an additional USD/EUR 5 fee applies. No fee is charged on withdrawals over USD/EUR 1,000 for wire transfers.
In addition to the ATFX broker, Traders Union also reviewed the Mindful trader. To read an insightful and detailed review, visit the official website of Traders Union.
Conclusion
ATFX offers several advantages for traders, including regulatory backing, diversified trading conditions, and a robust platform. However, certain limitations may affect some traders, such as the lack of cent accounts and a high entry barrier. We encourage readers to visit the Traders Union’s official website and explore more.
By Adedapo Adesanya
Five securities pulled down the NASD Over-the-Counter (OTC) Securities Exchange by 1.72 per cent on Friday, August 14, cutting the market capitalisation by N47.04 billion to N2.689 trillion from N2.727 trillion, and slicing the NASD Security Index (NSI) by 78.37 points to 4,465.83 from 4,532.03 points.
11 Plc led the price decliners yesterday after its price went down by N15.03 to N230.00 per share from N245.03 per share. MRS Oil Plc weakened by N13.20 to N118.80 per unit from N132.00 per unit, Central Securities Clearing System (CSCS) Plc slid by N10.30 to N99.46 per share from N109.76 per share, Okitipupa Plc fell by N6.99 to N270.01 per unit from N277.00 per unit, and Afriland Properties Plc dipped by N2.00 to N20.00 per share from N22.00 per share.
Business Post reports that the OTC securities exchange recorded four gainers during the session, led by FrieslandCampina Wamco Nigeria Plc, which appreciated by N9.85 to N169.85 per unit from N160.00 per unit. IPWA Plc gained 70 Kobo to close at N10.41 per share versus N9.71 per share, Industrial and General Insurance (IGI) Plc rose by 4 Kobo to 54 Kobo per unit from 50 Kobo per unit, and Geo-Fluids Plc improved by 1 Kobo to N2.06 per share from N2.05 per share.
The volume of trades soared by 64.8 per cent to 3.2 million units from the previous session’s 1.9 million units, the value of transactions jumped by 78.2 per cent to N375.7 million from N210.8 million, and the number of deals surged by 35.3 per cent to 46 deals from 34 deals.
Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units sold for N6.5 billion, and CSCS Plc with 79.0 million units exchanged for N5.7 billion.
GNI Plc also closed the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units traded for N415.7 million.
By Dipo Olowookere
The dominance of the bears on the Nigerian Exchange (NGX) Limited was consolidated on Friday, after further inflicting an 0.12 per cent loss at the close of trading activity.
All the key sectors of the local stock market turned red yesterday as a result of sustained profit-taking, though the industrial goods space was flat.
The insurance counter lost 1.49 per cent, the energy index shed 0.63 per cent, the consumer goods segment declined by 0.46 per cent, and the banking sector tumbled by 0.23 per cent.
Consequently, the All-Share Index (ASI) retreated by 398.18 points to 242,619.20 points from 243,017.38 points, and the market capitalisation receded by N257 billion to N156.624 trillion from N156.881 trillion.
Fortis Global Insurance lost 9.31 per cent to trade at N2.63, Omatek depreciated by 9.04 per cent to N1.51, John Holt slipped by 9.00 per cent to N9.10, RT Briscoe slumped by 7.94 per cent to N11.60, and Dangote Sugar went down by 7.79 per cent to N64.55.
But International Energy Insurance gained 9.92 per cent to sell for N5.32, Trans-Nationwide Express appreciated by 9.65 per cent to N2.84, Guinea Insurance improved by 6.67 per cent to 80 Kobo, Regency Alliance grew by 6.25 per cent to 85 Kobo, and Japaul jumped by 5.36 per cent to N2.95.
The market breadth index remained negative, with 30 price losers and 21 price gainers, indicating weak investor sentiment.
The level of activity contracted yesterday, with the trading volume, value, and number of deals down by 66.67 per cent, 10.65 per cent, and 5.60 per cent, respectively.
This was because market participants transacted 1.4 billion shares worth N45.3 billion in 39,134 deals during the session compared with the 4.2 billion shares valued at n50.7 billion traded in 41,454 deals on Thursday.
Fortis Global Insurance was the most active equity for the day, with a turnover of 874.1 million units valued at N2.4 billion, Cornerstone Insurance sold 100.3 million units worth N506.5 million, Universal Insurance traded 56.7 million units for N44.5 million, Sterling Holdings exchanged 53.3 million units worth N402.9 million, and MTN Nigeria transacted 44.6 million units valued at N31.4 billion.
By Adedapo Adesanya
The Naira maintained stability against the United States Dollar in the different segments of the foreign exchange (FX) market on Friday, August 14, according to data obtained by Business Post.
At the Nigerian Autonomous Foreign Exchange Market (NAFEM), the local currency remained unchanged at N1,357.65/$1, but lost N6.05 against the Pound Sterling to trade at N1,840.10 versus the previous session’s N1,834.05/£1, and depreciated against the Euro by N4.70 to sell for N1,571.70/€1 compared with the preceding day’s N1,567.00/€1.
At the black market, the Nigerian currency traded flat against the Dollar at N1,395/$1, but gained N3 at the GTBank forex desk to quote at N1,364/$1 versus Thursday’s exchange rate of N1,367/$1.
Data from the Central Bank of Nigeria (CBN) showed that interbank FX transactions surged by 51.2 per cent to $119.594 million from $79.097 million. These transactions were executed in 137 deals, higher than the 98 deals recorded a day earlier.
FX inflows from exporters, remittances and other sources, alongside demand from importers and individuals requiring Dollars, continue to shape market conditions.
Meanwhile, the cryptocurrency market recovered yesterday after experiencing a downturn in the previous sessions following reports that index provider MSCI has proposed new “non-operating company” screens for its Global Investable Market Indexes. Although the framework does not explicitly target cryptocurrency, it evaluates whether a company’s core operating assets constitute more than 50 per cent of its total holdings.
Heavy digital asset treasury adopters, including Strategy and Metaplanet, fail the proposed criteria and face potential removal during upcoming index rebalancings. While inclusion in major equity benchmarks previously allowed passive index funds and ETFs to automatically acquire these stocks, their removal could trigger forced institutional selling.
Dogecoin (DOGE) grew by 0.7 per cent to $0.07, Binance Coin (BNB) expanded by 0.6 per cent to $611.34, Ethereum (ETH) added 0.4 per cent to trade at $1,879.65, and Bitcoin (BTC) increased by 0.2 per cent to $63,045.87, with Ripple (XRP), the US Dollar Tether (USDT), and the US Dollar Coin (USDC) flat at $1.00, respectively.
But Cardano (ADA) lost 1.2 per cent to trade at $0.1795, TRON (TRX) shed 0.4 per cent to finish at $0.3323, and Solana (SOL) declined by 0.2 per cent to $75.60.
