EagleFX is an online forex and CFD forex Broker that offers forex, Cyptos, Stock CFDs, and Indices CFD trading. The broker offers as high as 1:500 leverage to retail traders. You can also enjoy a minimum deposit of as low as $10. EagleFX allows scalping, hedging, news trading, and so on. So if you consider using EagleFX as your broker, you may be wondering if the broker is regulated.
The answer is “No” EagleFX is not a regulated broker. It is an unregulated offshore forex broker that extends its services worldwide. In this content, we will explore more about EagleFX including regulatory status, strengths, weaknesses, alternatives, and so on.
So let’s get started
Is EagleFX Regulated?
No, EagleFX is not regulated by any regulatory authority. It is an unregulated offshore forex broker. Many traders opt for unregulated offshore forex brokers to avoid restrictions imposed by the regulators.
- Founded In: 2019
- Minimum Deposit: $10
- Maximum Leverage: 500:1
- Regulations: None
- Trading platform: MT4 , Webtrader
- Account Types:
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Bitcoin
- US Traders: Currently Not Accepted. However, Old traders can still trade.
Pros and Cons of EagleFX
EagleFX is an unauthorized forex broker. Still, many traders settle for EagleFX for high leverage and restriction-free trading options. Here are the pros and cons of EagleFX
- The maximum leverage is as high as 1:500
- The minimum deposit is as low as $10
- Scalping Hedging, News trading, and the use of trading robots are allowed
- Speedy STP trade executions in less than a second.
- Over 150 trading instruments can be traded on the platforms.
- Offers free demo accounts
- The round-turn commission is $6, which is low and competitive compared to others.
- Zero Fees on Deposit and Withdrawal
- Offers Crypto CFD Trading
- The broker is not regulated
- No investor protection scheme for traders
- No managed accounts, social trading, or any provision for investors.
- Limited Deposit and Withdrawal Options
- Ctrader, Zulutrade, and Tradingview are not available
- There are no educational resources
Alternatives of EagleFX:
EagleFX is a popular offshore forex broker. However, other brokers can serve as alternatives to EagleFX. These alternative brokers include:
- Founded In: 2018
- Minimum Deposit: $10
- Maximum Leverage: 1:500
- Regulations: None
- Trading Platforms: Pro4 ,WebTrader, Desktop Terminal
- Trading Instruments: Forex, cryptos, commodities, indices and stocks CFDs
- Accepts US Clients: Yes
- Founded In: 2019
- Minimum Deposit: $10
- Maximum Leverage: 1:500
- Regulations: None
- Trading Platforms: TradeLocker
- Trading Instruments: FX Pairs, Indices, Commodities, Metals, Stocks, Cryptos.
- Accepts US Clients: Yes
- Founded In: 2015
- Minimum Deposit: $50
- Maximum Leverage: 1:1000
- Regulations: None
- Trading Platforms : MT4, WebTrader, Mobile Trader
- Trading Instruments: Forex, Indices, Commodities, Metals, Energy, Shares
- US Clients: Currenly not accepted.
- Founded In: 2018
- Minimum Deposit: $10
- Maximum Leverage: 1:500
- Regulations: None
- Trading Platforms: ActTrader
- Trading Instruments: Forex, Cryptos, CFDs (Gold, Silver, Stock Indexes, Oil)
- US Clients: Accepted
- Founded In: 2015
- Minimum Deposit: $20
- Maximum Leverage: 1:500
- Regulations: None
- Trading Platforms: MT4
- Trading Instruments: BTC, BCH, LTC, XRP, USDT, debit cards, PayRedeem, Confirmo
- US Clients: Currently not accepted
- Founded In: 2020
- Minimum Deposit: $25
- Maximum Leverage: 1:500
- Regulations : None
- Trading Platforms : MT4
- Trading Instruments: Forex, Indices, Energies, Cryptos, stocks CFDs, and Metals.
- Founded In: 2019
- Minimum Deposit: $20
- Maximum Leverage: 1:500
- Regulations: None
- Trading Platforms : MT4, MT4 Webtrader, MT5 Mobile trader
- Trading Instruments: forex, cryptos, commodities, indices and stocks CFDs
- US Clients: Currently not accepted
- Founded In: 2018
- Minimum Deposit: $25
- Maximum Leverage: 1:500
- Regulations: None
- Trading Platforms: TradeLocker
- Trading Instruments: Forex, cryptos, indices, energies, Metals, stocks.
- US Clients: Accepted
Frequently Asked Questions ( FAQs)
What is EagleFX?
Founded in 2019, EagleFX is an offshore forex broker. It uses MT4 as its trading platform. EagleFX offers 200+ trading instruments including forex, CFD, Crypto CFDs, indices, and so on.
What is Forex Broker Regulation?
Forex broker regulation refers to the comprehensive set of rules and laws established by regulatory authorities to govern the operations of firms within the forex industry. These regulations are designed to ensure transparency, fairness, and integrity in the forex market, protecting the interests of traders and investors.
Is EagleFXan ECN Forex Broker?
Yes, EagleFX operates as an Electronic Communication Network (ECN) forex broker, providing direct access to liquidity providers and offering competitive pricing and execution.
Is EagleFXa Safe Broker?
EagleFX has been providing services for a long period. However, the broker is not regulated by any regulatory authority. As a result, trading with EagleFX involves inherent risks due to the lack of regulatory oversight. Traders should carefully consider these risks before engaging with the platform.
Is EagleFX regulated in the USA?
No, EagleFX is not regulated in the USA. In fact, it is not regulated by any regulatory authorities.
Is EagleFX regulated in the UK?
No, EagleFX is not regulated in the UK. The brokers of the UK are usually regulated by FCA, and EagleFX is not regulated by this regulatory authority.
Is EagleFX regulated in Canada?
No, EagleFX is not regulated in Canada.
Final Thoughts :
EagleFX is an unregulated forex broker that offers forex, CFDs, and Cryptos. The maximum leverage of EagleFX is as high as 1:500. However, the broker does not have any passive investment options ( PAMM, MAMM)
Since it is an offshore forex broker, it can onboard clients from anywhere in the world. The broker allows traders to trade with any style including scalping, hedging, EA Trading, news trading, and so on.
Trading forex and CFDs comes with the risk of losing your trading capital. Moreover, trading with unregulated brokers puts your funds at higher risks
