EagleFX Review 2025
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Updated:
Reason to avoid: Offshore license
Listed Date: August 10, 2023
Top 3 Forex Brokers
Beware EagleFX is a Non-Regulated Broker. It is NOT SAFE to trade
Advertising Disclosure
Updated:
Reason to avoid: Offshore license
Listed Date: August 10, 2023
Beware EagleFX is a Non-Regulated Broker. It is NOT SAFE to trade
No, engaging in trading with EagleFX is not recommended. The company operates under an offshore license from Dominica, which is considered the riskiest option as the company is based only in an offshore zone. Brokers located in Dominica are not trustworthy because of the lack of proper oversight and guidelines established by the jurisdiction itself. The country’s Financial Services Unit does not have special laws and guidelines for forex trading, thus making trading with EagleFX risky and financially unsteady.
🏢 Registered in | Dominica |
🗺️ Type of License | Offshore |
🛡️ Is EagleFX safe to trade? | No |
🗺️ Recommended Licenses | FCA in the UK 🇬🇧 and ASIC in Australia 🇦🇺 |
🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
According to the broker’s website, EagleFX functions as an internet-based STP broker for Forex and cryptocurrency trading, offering CFD trading across a wide range of assets and favorable trading circumstances through the acclaimed MT4 platform. As the broker states, with EagleFX, users can access substantial liquidity, enjoy high leverage of up to 1:500, and benefit from competitive spreads in the industry.
Also, EagleFX provides 24/7 live customer service, doesn’t impose any deposit or withdrawal fees, and ensures withdrawals are processed within 30 minutes or less.
However, our research of the broker has brought to light numerous issues, with some of the most notable ones including:
Based on our extensively informed Expert Opinion, supported by over a decade of hands-on experience in Forex Trading, we have revealed noteworthy concerns regarding EagleFX’s regulation and overall reliability. Consequently, we cannot provide a positive ranking upon EagleFX.
Ranking | EagleFX | XM | HFM |
---|---|---|---|
Our Ranking | ⭐ | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ |
Is Broker safe? | No | Yes | Yes |
Advantages | None | Education | Trading Conditions |
Due to the considerable safety concerns associated with EagleFX, we strongly advise exploring significantly superior alternatives known for their stringent regulations and exceptional trading conditions. Below, we have a selection of reputable brokers and reliable options for your comparison:
EagleFX claims to offer multiple deposit methods including Bitcoin and Wire Transfer via Instacoins. The minimum deposit for a Credit/Debit Card and Bank Wire Transfer is $50. There are no fees for deposits or withdrawals made on the broker’s platform. However, all Bitcoin transactions are subject to the blockchain network and miner fees.
EagleFX offers a single standard live account applicable to all clients. Besides, clients have the choice to establish a demo account, along with the availability of an Islamic/Swap-free account. Through the live account, traders can access 55 currency pairs, including majors, minors, and exotics. The broker offers a low minimum deposit of $50 and high leverage of up to 1:500.
Based on the accumulated information about EagleFX, there are notable reservations concerning the broker’s dependability and integrity, so overall EagleFX is not recoomended for trading and is quite suspicious. Its registration in Dominica undermines the broker’s credibility, creating a heightened potential for it to be associated with financial fraud.
It’s advisable to stay away from brokers with dubious registrations and instead prioritize those with established track records, recognized for delivering consistent exceptional trading conditions and dependable services over time. Traders should prioritize brokers holding licenses such as FCA, ASIC, or CySEC, as these licenses offer elevated levels of security.
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