Recommended for forex and CFD traders familiar with the MetaTrader 4 trading platform
74.07% of retail CFD accounts lose money
ATFX has taken the decision to cease providing services to elective professional and retail clients with immediate effect. It is therefore unable to accept any applications. Services to per se professional clients (e.g. financial institutions) will not be impacted. As you cannot open an account at ATFX anymore try our broker finder tool to discover the broker most suitable to your needs or check the lists of the best CFD or forex brokers in 2021.
ATFX is the brand used by branches of global financial group AT Group that provide CFD/forex trading services. ATFX has four legal entities, each with different regulations and services. In this review, we tested the services of AT Global Markets (UK) Limited, which is regulated by the top-tier UK Financial Conduct Authority (FCA).
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.07% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
ATFX pros and cons
ATFX has low forex fees. Account opening is seamless and fast. From bank transfers to electronic wallets, you have many options for deposit and withdrawal, and they're all free of charge.
The product portfolio covers only forex, CFD and crypto. Email support is a bit slow, and ATFX's research materials don't include fundamental data.
|• Low forex fees||• Limited product portfolio|
|• Fast and easy account opening||• Slow email support|
|• Free deposit and withdrawal options||• No fundamental data|
|🗺️ Country of regulation||UK, Cyprus, St Vincent & The Grenadines, Mauritius|
|💰 Trading fees class||Low|
|💰 Inactivity fee charged||No|
|💰 Withdrawal fee amount||$0|
|💰 Minimum deposit||$500|
|🕖 Time to open an account||1 day|
|💳 Deposit with bank card||Available|
|👛 Depositing with electronic wallet||Available|
|💱 Number of base currencies supported||3|
|🎮 Demo account provided||Yes|
|🛍️ Products offered||Forex, CFD, Crypto|
74.07% of retail CFD accounts lose money
ATFX has low forex fees, as well as no inactivity and withdrawal fees. On the other hand, the CFD fees are average.
|• Low forex fees||• Average CFD fees|
|• No withdrawal fee|
|• No inactivity fee|
|Assets||Fee level||Fee terms|
|S&P 500 CFD||High||Standard account: the fees are built into the spread; the spread cost is 1 points during peak trading hours. The Standard account has higher spreads compared to other account types.|
|Europe 50 CFD||Low||Standard account: the fees are built into the spread; the spread cost is 2.6 points during peak trading hours. The Standard account has higher spreads compared to other account types.|
|EURUSD||Low||Standard account: the fees are built into the spread. The spread cost is 1.1 pips during peak trading hours. The Standard account has higher spreads compared to other account types.|
|Inactivity fee||Low||No inactivity fee|
How we ranked fees
We ranked ATFX's fee levels as low, average or high based on how they compare to those of all reviewed brokers.
To get things rolling, let's go over some lingo related to broker fees. What you need to keep an eye on are trading fees, and non-trading fees.
- Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
- Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.
In the sections below, you will find the most relevant fees of ATFX for each asset class. For example, in the case of forex and stock index trading, spreads, commissions and financing rates are the most important fees.
We also compared ATFX's fees with those of two similar brokers we selected, XM and ETX Capital. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of ATFX alternatives.
To have a clear overview of ATFX, let's start with the trading fees.
ATFX trading fees are low. Fee structures differ according to account types. We tested the fees for the Standard account, which charges no commission but spreads are higher.
We know it's hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.
We have chosen popular instruments within each asset class:
- Stock index CFDs: SPX and EUSTX50
- Stock CFDs: Apple and Vodafone
- Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP
A typical trade means buying a leveraged position, holding it for one week and then selling. For the volume, we chose a $2,000 position for the stock index and stock CFDs and $20,000 for the forex transactions. The leverage we used was:
- 20:1 for stock index CFDs
- 5:1 for stock CFDs
- 30:1 for forex
These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let's see the verdict for ATFX fees.
ATFX has average CFD trading fees.
|S&P 500 index CFD fee||$2.1||$1.6||$3.0|
|Europe 50 index CFD fee||$1.7||$2.4||$2.9|
|Apple CFD fee||$8.3||$6.4||$33.6|
The costs for both stock index CFDs and stock CFDs are built into the spreads.
ATFX forex fees are low, beating those of its closest competitors for all currency pairs.
|EURUSD benchmark fee||$6.8||$9.5||$6.7|
|GBPUSD benchmark fee||$4.7||$8.4||$4.7|
|AUDUSD benchmark fee||$6.4||$10.3||$6.3|
|EURCHF benchmark fee||$4.7||$9.7||$5.1|
|EURGBP benchmark fee||$7.4||$10.5||$6.9|
Similarly to stock index and stock CFDs, the fees are built into the spreads.
ATFX has low non-trading fees. It charges no account, inactivity, deposit, or withdrawal fees.
ATFX has a user-friendly and fully digital account opening process, usually taking no more than a day. On the flip side, the minimum deposit is high for non-Standard accounts.
|• Fast||• High minimum deposit for accounts other than 'Standard'|
|• Fully digital|
Can you open an account?
ATFX accepts clients from all over the world. There are a few notable exceptions though, such as Japan, France or Canada.
What is the minimum deposit at ATFX?
The required minimum deposit is $500. for the Standard account, but higher for other account types.
Higher spreads, from 1.0 pip
Lower spreads, from 0.6 pip
Raw spreads, from 0.0 pip
Lower spreads, from 0.6 pip
$25 per 10 lots
Trading education allowance and more research tools
*To choose this account, you must meet certain criteria, such as holding a min. €500,000 portfolio or having a working experience in the financial sector.
How to open your account
ATFX's account opening process is straightforward and fully digital.
The five steps of ATFX account opening:
- Enter your personal details.
- Verify your identity by uploading a copy of your ID card, passport or driver's license. Your proof of residency can be a utility bill or a bank statement.
- Add information about your financial situation.
- Answer questions about your trading experience.
- Fill out a test assessing your financial knowledge.
This initial registration takes 15-20 minutes, and in most cases, accounts are verified within 1-2 business days. When we tested the process, our account was verified on the same day.
During our test, we had to re-send our documentation to customer service. In the process, they reached out to us immediately, and after sending our documents, our account got validated almost instantly. However, our validation email was sent in Italian, which was surprising as our earlier discussion was in English.
Deposit and withdrawal
ATFX offers free and fast deposit and withdrawal. Options for funding your account include bank transfer, credit/debit cards, and electronic wallets.
|• Credit/Debit card available||• A limited number of available base currencies|
|• Free withdrawal|
|• No deposit fee|
ATFX has 3 account base currencies: EUR, GBP and USD. This selection is not the best on the market, lagging behind that of competitors including XM.
|Number of base currencies||3||11||3|
Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don't have to pay a conversion fee.
A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.
Deposit fees and options
ATFX charges no deposit fees. Besides bank transfer, you can deposit money via credit/debit cards, and electronic wallets such as PayPal, Skrill, Neteller or SafeCharge. For non-UK clients, alternative e-wallets like Trustly are also available.
A bank transfer can take several business days, while payment with a credit/debit card is instant. We tested credit card payment.
You can only deposit money from accounts that are in your name.
ATFX withdrawal fees and options
ATFX doesn't charge a fee for withdrawals equal to or over €/$/£100, or for the full balance of the account (in case it is lower than €/$/£100). You can use the same methods for withdrawal as for deposits.
How long does it take to withdraw money from ATFX? We tested credit card withdrawal and it took 2 business days.
You can only withdraw money to accounts that are in your name.
How do you withdraw money from ATFX?
- Log in to 'Member Center'
- Click 'Withdrawal'
- Add the amount and the reason for withdrawal
- Initiate the withdrawal
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Web trading platform
The ATFX web trading platform is provided by MetaTrader. It is highly customizable and has a clear fee report, but it lacks a two-step login and price alerts, and the design is outdated.
|• Clear fee report||• No two-step (safer) login|
|• Good customizability (for charts, workspace)||• No price alerts|
|• Order confirmation||• Poor design|
ATFX doesn't have its own trading platform, so it uses MetaTrader 4, a third-party platform.
MetaTrader 4 is available in an exceptionally large number of languages.
Look and feel
ATFX's web platform is highly customizable. You can easily change the size and the position of the tabs.
On the flip side, the platform feels outdated and some features are hard to find. For example, it took us a while to figure out how to add an asset to the watchlist.
Login and security
ATFX provides only one-step login. Two-step authentication would be more secure.
The platform's search functions are OK. You can find assets grouped into categories. At the same time, we missed the usual search function where you can type in an asset's name manually.
You can use only the most basic order types. You will not find more sophisticated ones such as 'one cancels the other'. The following order types are available:
- Trailing Stop
Trailing Stop is available only in the MT4 desktop platform.
If you are not familiar with order types, read this overview.
There are also order time limits you can use:
- Good 'til canceled (GTC)
- Good 'til time (GTT)
Alerts and notifications
You can't set alerts and notifications on the ATFX web platform. This feature is available only on the desktop trading platform.
Portfolio and fee reports
ATFX has clear portfolio and fee reports. You can easily view your profit/loss balance and the commissions you have paid. These reports can be found under the 'History' tab. We couldn't find a way to download them.
Mobile trading platform
ATFX has a great mobile trading platform, offered by MetaTrader 4. It is well-designed and user-friendly. Unfortunately, it lacks a safer, two-step login.
|• User-friendly||• No two-step (safer) login|
|• Good search function||• No Touch/Face ID login|
|• Modern design||• No order confirmation|
Similarly to the web trading platform, ATFX offers MetaTrader 4 as its mobile trading platform. MetaTrader 4 is available for both iOS and Android. We tested it on Android.
After you have downloaded the MT4 mobile trading platform, you must access the ATFXGM2-Live server.
Just like on the web trading platform, you can choose from many languages on the mobile trading platform as well. Changing the language is a bit tricky on Android devices, though. You can do it only if you change the default language of your mobile.
Look and feel
ATFX has a great mobile trading platform, we really liked its design and user-friendliness. You will easily find all the features.
Login and security
Similarly to the web trading platform, ATFX provides only one-step login. A two-step login process would be safer.
You can't use fingerprint or Face ID authentication. Providing this feature would make the login process more convenient.
The search functions are good. You can search by typing the name of the product or by navigating the category folders.
You can use the same order types and order time limits as on the web trading platform. However, order confirmation is not provided.
Alerts and notifications
You can set up alerts and notifications for your mobile, although you can do it only on the desktop trading platform. It would be much more convenient if you could set these notifications on the mobile trading platform itself.
Desktop trading platform
In design and functionality, ATFX's MetaTrader 4 desktop platform is almost the same as the web platform. One big difference is that you can set price alerts on the desktop platform.
|• Clear fee report||• No two-step (safer) login|
|• Good customizability (for charts, workspace)||• Poor design|
|• Price alerts|
ATFX offers MetaTrader 4 as a desktop trading platform.
It has the same design, is available in the same languages, offers the same order types plus Trailing Stop, has the same search functions, and offers the same portfolio and fee reports as the web trading platform.
The major difference is that you can set alerts and notifications on the desktop trading platform, in the form of mobile push and email notifications. To set these notifications, you need to add your email address and mobile MetaQuotes ID (which you can find in the MT4 app's settings). You can add them by going to 'Tools' and then 'Options'.
Markets and products
ATFX provides only forex, CFDs and cryptos. It lacks other popular asset classes such as real stocks, mutual funds or bonds.
ATFX is a CFD and forex broker. If you're not familiar with CFDs, read our article.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.07% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. To learn more about CFDs read our CFD trading tips.
ATFX has a competitive selection of forex pairs, but its CFD product offering is smaller than that of its closest competitors, and unfortunately, you can't trade ETFs or bonds.
|Currency pairs (#)||70||57||62|
|Stock index CFDs (#)||13||28||21|
|Stock CFDs (#)||170||1,240||2,500|
|Commodity CFDs (#)||10||15||41|
FCA bans the sale of crypto-derivatives to UK retail consumers from 6 January 2021.
You can't change the default leverage level of the products.
Changing the leverage manually is a very useful feature when you want to lower the risk of your trade. Be careful with forex and CFD trading, since the preset leverage levels may be high.
ATFX provides a social trading service through the MT4 desktop trading platform. First, you have to register your account by clicking 'Auto Trading'. After registration, you can start copying fellow traders, although this is usually not free of charge.
Social trading is also good opportunity for seeking out new ideas. You can find nice research materials and charts in this section.
ATFX offers a wide range of (mostly technical) analysis, a great economic calendar and OK charting tools. On the negative side, it doesn't offer fundamental data.
|• Trading ideas||• No fundamental data available|
|• User-friendly||• Limited news feed|
ATFX's research tools can be found on the MT4 trading platform, at the ATFX Member Center, and on ATFX's website.
The bulk of research material is from third-party research feed providers such as Trading Central. ATFX also has its own research team, providing quarterly market outlook reports, among others.
ATFX provides trading ideas, based on technical indicators. You can find these trading ideas if you log in to the Member Center, then click 'Research Platform' or 'Featured Ideas'. The 'Featured Ideas' section covers only the major currency pairs.
ATFX doesn't offer fundamental data.
ATFX has OK charting tools. You can use 31 technical indicators and other technical tools, such as trendlines or Fibonacci retracement.
On the negative side, the design is outdated and some features are hard to use. For example, we had difficulty figuring out how to remove an indicator from the chart.
The news feeds are OK, focusing mainly on the movements of technical indicators. On the flip side, more complex news items, such as those covering major economic events, are missing.
You can also use a great economic calendar. We liked that the calendar has a filter function where you can filter for countries, data type and importance.
You can reach ATFX via several channels for relevant and (mostly) quick answers. However, there is no 24/7 support, and the response time for emails is slow.
|• Phone support||• No 24/7 support|
|• Live chat||• Slow communication via email|
|• Great phone support|
You can contact ATFX via:
- live chat
When we tested the phone service, we couldn't reach any operators on the day before a UK banking holiday. But after the holiday, we were immediately put first in queue. The operator was helpful and provided lots of insights to our questions.
The live chat service gives relevant answers. We had mixed experiences about its speed, though; on one occasion, we had to wait 30 minutes for an agent to be connected, while in another test, the response time was excellent.
On the other hand, we haven't received answers to any of the emails that we have sent to ATFX.
We missed 24/7 availability. You can reach customer service from Monday to Friday between 9 am and 5 pm, London time.
ATFX offers great educational tools. You can use a demo account, read books and participate in webinars, among others.
|• Demo account||None|
|• Trading platform tutorial|
|• Educational videos|
ATFX provides many ways to improve your knowledge:
- Demo account
- Platform tutorial videos
- General educational videos
- Quality educational articles
- Platform tutorial video
Once your account is approved, the confirmation email includes a platform tutorial video. It's very helpful if you want to familiarize yourself with the MT4 platform quickly.
Most educational tools can be found under the 'Education' menu on the website.
You can also sign up for different types of webinars. There are usually three sessions scheduled every week. Webinars are available in several languages including English, German, Italian or Spanish, but we found it a bit confusing that some webinars are only available in one language.
Forex Education Center
We strongly recommend that you visit the Forex Education Center. You can watch high-quality videos and browse in-depth courses and ebooks; the length and complexity of your studies will depend only on your appetite.
We were impressed by how ATFX provides a clear view about the impact of major financial and economic events. For example, we received an email note about the possible implications of Brexit.
ATFX is regulated by several authorities - including the top-tier FCA, which grants strong investor protection. However, ATFX is not listed on a stock exchange and doesn't disclose financial information.
|• Regulated by the top-tier FCA||• Does not hold a banking license|
|• High level of investor protection under FCA||• Not listed on stock exchange|
|• Negative balance protection under FCA and CySEC||• Financial information is not publicly available|
Is ATFX regulated?
Yes, it operates under four legal entities, regulated by the following financial authorities:
- Financial Conduct Authority (FCA)
- Cyprus Securities and Exchange Commission (CySEC)
- Financial Services Authority of St. Vincent and the Grenadines
- Financial Services Commission of Mauritius
Is ATFX safe?
To be certain, we highly advise that you check two facts:
- how you are protected if something goes wrong
- what the background of the broker is
There are four legal entities to choose from, and each comes with different regulations and services. We recommend the FCA-regulated entity, because it has the highest investor protection amount at £85,000, while the FCA is one of the best financial regulators.
|Investor protection amount||Regulator||Legal entity|
|£85,000||Financial Conduct Authority (FCA)||AT Global Markets (UK) Limited|
|€20,000||Cyprus Securities and Exchange Commission (CySEC)||ATFX Global Markets (CY) Ltd|
|No protection||Financial Services Authority of St. Vincent and the Grenadines||AT Solution Limited (ATGM)|
|No protection||Financial Services Commission of Mauritius||AT Global Markets Intl Ltd|
ATFX provides negative balance protection for forex spot and CFD trading, but only for retail clients from the European Union. Professional and non-EU clients are not covered by any negative balance protection.
AT Group is an international financial group, and ATFX is the brand name of its divisions that provide CFD and forex trading.
AT Group was founded in 2014, but ATFX itself launched in 2017. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.
The company doesn't disclose financial information and isn't listed on any exchanges. These would both increase transparency.
ATFX is regulated by several financial authorities globally, including the top-tier FCA.
On the plus side, ATFX has low forex fees. The account opening process is easy, and multiple options are offered for deposit and withdrawal, all free of charge.
ATFX has some drawbacks, though. The product range is limited to FX, CFDs, and cryptos. Email support can be slow, and fundamental data research is missing.
As trading fees are low and you can use a demo account, feel free to try ATFX.