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ATFX Review 2019

4.4 4 stars · Nov 2019
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70.16% of retail CFD accounts lose money
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ATFX logo

AT Group is a global financial group and ATFX is the brand of branches providing CFD/forex trading services. ATFX has four legal entities with different regulations and services. In this review, we tested the service of AT Global Markets (UK) Limited, which is regulated by the top-tier FCA.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.16% 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.

Recommended for forex and CFD traders familiar with the MT4 trading platform.

Pros
  • Low fees
  • Fast and easy account opening
  • Multiple deposit and withdrawal options for free
Cons
  • Limited product portfolio
  • Pushy sales team
  • No fundamental data

ATFX pros and cons

ATFX has low CFD and forex fees. The account opening is seamless and fast. From bank transfers to electronic wallets, you have many options for deposit and withdrawal and they are free of charge.

The product portfolio covers only forex, CFD, and crypto asset classes. At the account opening and customer support, the sales team is pushy. Lastly, you can't use fundamental data as a research tool.

Compare to other brokers

ATFX review
Fees 5 stars

ATFX has great fees. It charges low fees both for CFD and forex. There are also no inactivity and withdrawal fees.
Pros
  • Low trading fees
  • Low non-trading fees
  • No withdrawal fee
Cons
None
ATFX fees snapshot
Assets Fee level Fee terms
US stock - Not available
EURUSD Low The fees at TraderPro account are built into spread, 1.0 pips is the average spread cost
US tech fund - Not available
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.

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

ATFX trading fees are low. The fee structures are different among the account types. We tested the fees for Standard Account, which charges no commission but the 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 is:

  • 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.

CFD fees

ATFX has generally low CFD trading fees. The stock index fees are a bit higher than the closest competitors, but if you compare it with other brokers, it's quite low.

ATFX CFD fees for a $2,000 long position held for one week
  ATFX XM ETX Capital
S&P 500 CFD benchmark fee $2.4 $2.4 $2.2
Europe 50 CFD benchmark fee $2.7 $2.4 $2.1
Apple CFD benchmark fee $4.5 $3.4 $32.0

The costs both for stock index CFDs and stock CFDs are built into the spreads.

Forex fees

ATFX forex fees are low. The fees are lower than the closest competitors at all currency pairs.

ATFX forex benchmark fees of a $20,000 30:1 long position held for one week
  ATFX XM ETX Capital
EURUSD benchmark fee $10.5 $17.1 $19.5
GBPUSD benchmark fee $10.2 $13.8 $16.1
AUDUSD benchmark fee $9.9 $13.9 $16.6
EURCHF benchmark fee $4.2 $9.1 $9.4
EURGBP benchmark fee $7.7 $12.2 $14.2

Similarly to the stock index and stocks, the fees are built into the spreads.

Non-trading fees

ATFX has low non-trading fees. There are no account, inactivity, deposit and withdrawal fees. 

ATFX non-trading fees
  ATFX XM ETX Capital
Account fee No No No
Inactivity fee No Yes Yes
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $0

ATFX review
Account opening 5 stars

ATFX has a user-friendly and fully digital account opening. In most cases, the account approval takes no more than 1-2 business days. On the flip side, the sales team is pushy and the required minimum deposit can be high.
Pros
  • Fast
  • Fully digital
  • User-friendly
Cons
  • Sales team pushy
  • High minimum deposit for accounts, except Standard Account

Can you open an account?

ATFX accepts clients all over the world. There are a few exceptions we have to mention though, like Canada, China, Japan and the United States.

What is the minimum deposit at ATFX?

The required minimum deposit is $500. for the Standard Accounts, but higher for other account types.

Account types

ATFX provides four account types, which differ in the required minimum deposit, pricing, leverage, and additional services.

ATFX account types
  Standard Account Edge Account Premium Account Professional account*

Minimum deposit

$500 $5,000 $10,000 $5,000

Spreads

Higher spreads, from 1.0 pip Lower spreads, from 0.6 pip Raw spreads, from 0.0 pips Lower spreads, from 0.6 pip
Commission No commission No commission $2.5 per 10 lots No commission
Leverage 1:30 1:30 1:30 1:400
Additional Services - None

- Trading education allowance

- More research tools 

*If you want to choose this account, you have to satisfy criteria, such as holding a min. €500,000 portfolio or working experience in the financial sector.

How to open your account

ATFX's account opening is straightforward and fully digital.

The five steps of the ATFX account opening:

  1. Give your personal details.
  2. Verify your identity by uploading a copy of your ID, passport or driver's license. Your proof of residence can be a utility bill or a bank statement.
  3. Add information about your financial situation.
  4. Answer questions about your experience.
  5. Fill out a test, which asses your trading knowledge. 

This initial registration takes 15-20 minutes and in most cases, the accounts are verified within 1-2 business days. 

However, we had complications during the account verification because the picture we uploaded was not fine. After they realized the error, customer service contacted us and helped to solve the issue. 

ATFX review - Account opening

 

ATFX review - Account opening-financial

 

 

ATFX review - Account opening-knowledge

ATFX review
Deposit and withdrawal 5 stars

ATFX offers free and fast deposit and withdrawal. There are various options for funding your account, including bank transfer, credit/debit cards, as well as electronic wallets.
Pros
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
Cons
None

Account base currencies

ATFX has 3 account base currencies, EUR, GBP, USD. This account base currency selection is similar to the competitors.

Base currencies at ATFX vs similar brokers
  ATFX XM ETX Capital
Number of base currencies 3 7 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. Revolut or Transferwise both 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.

Compare digital banks

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.

ATFX deposit options
  ATFX XM ETX Capital
Bank transfer Yes Yes Yes
Credit/Debit card Yes Yes Yes
Electronic wallets Yes Yes Yes

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, which are in your name.

ATFX review - Deposit and withdrawal - Deposit

ATFX withdrawal fees and options

ATFX doesn't charge any withdrawal fee and you can use the same methods as for deposit.

ATFX withdrawal fees and options
  ATFX XM ETX Capital
Bank Transfer Yes Yes Yes
Credit/Debit card Yes Yes Yes
Electronic wallets Yes Yes Yes
Withdrawal fee $0 $0 $0

How long does it take to withdraw money from ATFX? We tested the credit card withdrawal and it took 2 business days.

You can only withdraw money to accounts in your name.

How do you withdraw money from ATFX?

  • Log into 'Member Center'
  • Click on 'Withdrawal'
  • Add the amount and the reason for withdrawal
  • Initiate the withdrawal

ATFX review - Deposit and withdrawal - Withdrawal

Compare to other brokers

ATFX review
Web trading platform 3 stars

The web trading platform of ATFX is provided by MetaTrader. It is highly customizable, available in a lot of languages, and has a clear fee report. On the other hand, it lacks a two-step login and price alerts, and the design is outdated.
Pros
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Order confirmation
Cons
  • No two-step (safer) login
  • No price alerts
  • Poor design
ATFX platforms to choose from
Trading platform Score Available
Web 3 / 5 stars Yes
Mobile 4 / 5 stars Yes
Desktop 3 / 5 stars Yes

ATFX doesn't have its own self-developed trading platform, it uses MetaTrader 4, a third-party platform.

MetaTrader 4 is available in an exceptionally large number of languages.

ATFX web trading platform languages
Arabic Bulgarian Chinese Croatian Czech Danish
Dutch     English Estonian Finnish French German
Greek Hebrew Hindi Hungarian Indonesian Italian
Japanese Korean Latvian Lithuanian Malay Mongolian
Persian Polish Portuguese Romanian Russian Serbian
Slovak Slovenian Spanish Swedish Tajik Thai
Traditional Chinese Turkish Ukrainian Uzbek Vietnamese  

Look and feel

The ATFX web trading platform has great customizability. 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 some time until we found how to add an asset to the watchlist.

ATFX review - Web trading platform

Login and security

ATFX provides only a one-step login. A two-step authentication would be more secure.

Search functions

The search functions are OK. You can find the assets in categories. At the same time we missed the usual search function when you can type in the asset's name manually.

ATFX review - Web trading platform - Search

Placing orders

You can use the basic order types. You will not find very sophisticated orders like the 'one cancels the other' order. The following order types are available:

  • Market
  • Limit
  • Stop-loss

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)

ATFX review - Web trading platform - Order panel

Alerts and notifications

You can't set alerts and notifications. This feature is available only on the desktop trading platform.

Portfolio and fee reports

ATFX has clear portfolio and fee reports. You can easily see your profit-loss balance and the commissions you paid. These reports can be found under the 'History' tab. We didn't find a way to download them.

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70.16% of retail CFD accounts lose money

ATFX review
Mobile trading platform 4 stars

ATFX has a great mobile trading platform, offered by MetaTrader 4. It is well-designed and user-friendly. Unfortunately, it lacks a safe login which would be safer.
Pros
  • User-friendly
  • Good search function
  • Modern design
Cons
  • No two-step (safer) login

Similarly to the web trading platform, ATFX offers MetaTrader 4 as a mobile trading platform. MetaTrader 4 is available for both iOS and Android. We tested it on Android.

After you download the MT4 mobile trading platform, you have to access the ATFXGM2-Live server. 

Just like at the web trading platform, you can choose from a lot of languages on the mobile trading platform too. Changing the language is a bit tricky on Android devices. You can do it only if you change the default language of your mobile.

ATFX mobile trading platform languages
Arabic Chinese (Simplified) Chinese(Traditional) Czech English
French German Greem Hindi Indonesian
Italian Japanese Korean Polish Portuguese
Portuguese (Brazil) Russian Spanish Thai Turkish
Ukrainian Vietnamese      

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.

ATFX review - Mobile trading platform

Login and security

Similarly to the web trading platform, ATFX provides only a one-step login. A two-step login would be safer.

You can't use fingerprint or Face ID authentication. Providing this feature would be more convenient.

Search functions

The search functions are good. You can search by typing the name of the product or by navigating the category folders.

ATFX review - Mobile trading platform - Search

Placing orders

You can use the same order types and order time limits as the ones on the web trading platform

ATFX review - Mobile trading platform - Order panel

Alerts and notifications

You can set alerts and notifications, although you can do it only on the desktop trading platform. It would be much easier if you could set these notifications on the mobile trading platform.

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70.16% of retail CFD accounts lose money

ATFX review
Desktop trading platform 3 stars

In design and functionality, ATFX's MetaTrader 4 desktop platform is almost the same as the web trading platform. One major difference is that you can set price alerts on the desktop trading platform.
Pros
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Price alerts
Cons
  • No two-step (safer) login
  • Poor design

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, 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 in the form of mobile push and email notifications on the desktop trading platform. To set email or mobile notifications, you have to add your email address and mobile MetaQuotes ID (you can find it in the MT4 app's settings). You can add them if you go to 'Tools' and then 'Options.'

ATFX review - Desktop trading platform

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70.16% of retail CFD accounts lose money

ATFX review
Markets and products 1 stars

ATFX provides only forex, CFDs and cryptos. However, it lacks popular asset classes, such as real stocks, mutual funds, or bonds.

ATFX is a CFD and forex broker.Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.16% 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's product selection is lower than at the competitors and unfortunately, you can't trade with ETFs or bonds.

ATFX product selection
  ATFX XM ETX Capital
Currency pairs (#) 44 57 58
Stock index CFDs (#) 13 18 21
Stock CFDs (#) 155 1,200 2,500
Commodity CFDs (#) 9 15 26
Cryptos (#) 4 5

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. For example, instead of trading with 5:1 leverage, only trade with 2:1 leverage in case of stock CFDs. Be careful with forex and CFD trading, since the preset leverage levels are high.

Social Trading

ATFX provides a social trading service through MT4 desktop trading platform. First, you have to register your account by clicking on 'Auto Trading'. After the registration, you can start copying fellow traders, however, it is usually not free of charge.

This social trading is also good opportunity for searching new ideas. You can find nice research materials and charts.

ATFX review - Social Trading - Registration

ATFX review - Social Trading - Traders

ATFX review
Research 4 stars

ATFX offers a wide range of technical-based analysis, a great economic calendar, and an OK charting. On the negative side, it doesn't offer fundamental data.
Pros
  • Trading ideas
  • User-friendly
Cons
  • No fundamental data available

ATFX's research tools can be found on the MT4 trading platform, ATFX's Member Center, and ATFX's website.

The majority of the research tools are provided by third-party research feed providers, like Trading Central. On the flip side, ATFX has also its own research team and they quarterly provide market outlook reports.

Trading ideas

ATFX provides trading ideas. The trading ideas are based on technical indicators.

You can find these trading ideas if you log into the Member Center, then click on Research Platform' or 'Featured Ideas'. The 'Featured Ideas' covers only the major currency pairs and you can't find ideas for all assets.

ATFX review - Research - Recommendations

Fundamental data

ATFX doesn't offer fundamental data.

Charting

ATFX has OK charting tools. You can use 31 technical indicators and other technical tools, such as trendlines or Fibonacci retracement.

On the other hand, the design is outdated and some features are hard to use. For example, we had difficulty finding how we could remove an indicator from the chart.

ATFX review - Research - Charting

News feed

The news feeds are OK. The newsfeed is about the moves of technical indicators. On the flip side, more complex news for example about 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.

ATFX review - Research - Economic calendar

Compare research pros and cons

ATFX review
Customer service 4 stars

ATFX's telephone and email support work well. You get relevant answers quickly. On the other hand, there is no 24/7 support and the response time of live chat is slow.
Pros
  • Live chat
  • Great telephone and email support
Cons
  • No 24/7 support
  • Slow live chat

You can contact ATFX via:

  • telephone
  • email
  • live chat

ATFX's phone support works well. It has minimal waiting time and we got relevant answers to our technical questions. On the other hand, when we contacted ATFX and didn't have a live account yet, the sales team was really pushy.

On email, we received answers within one business day, which is great. The relevancy of the answers was satisfactory as well.

The live chat gives relevant answers. However, we had to wait more than 2 minutes for a response in more cases. At many other brokers, the live chat gives instant answers.

We missed 24/7 availability. You can reach them from Monday till Friday between 9 am and 5 pm, London time.

ATFX review - Customer Service

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70.16% of retail CFD accounts lose money

ATFX review
Education 5 stars

ATFX offers great educational tools. You can use demo account, read books, participate in webinars and so on.
Pros
  • Demo account
  • Trading platform tutorial
  • Educational videos
Cons
None

ATFX provides a lot of ways to improve your knowledge:

  • Demo account
  • Platform tutorial videos
  • General educational videos
  • Webinars
  • Quality educational articles
  • Platform tutorial video

When your account is approved, the confirmation email includes a platform tutorial video. It helps a lot to get familiar with the MT4 platform quickly and makes your journey into trading as easy as possible.

Most educational tools can be found if you click on 'Education' on the website.

Webinars

You can also sign up for different types of webinar sessions. There are usually three occasions per week scheduled. It was a bit confusing that the language of these webinars was German or Italian, and not English.

ATFX review - Education- Webinar

Forex Education Centre

We strongly recommend you to visit Forex Education Centre'. You can pick high-quality videos, in-depth courses and ebooks; the length and complexity will depend only on your appetite.

ATFX review - Education- Courses

Financial Events

We liked very much that ATFX gives a clear view about the impacts of major financial events. For example, we received an email about what Brexit can implicate.

ATFX review - Education- Financial events

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70.16% of retail CFD accounts lose money

ATFX review
Safety

ATFX is regulated by more financial authorities, including the top-tier FCA. There is also a high, £85,000 investor protection amount for accounts under the FCA. On the other hand, the company is not listed on any stock exchange and doesn't disclose financial information.
Pros
  • Regulated by the top-tier FCA
  • High level of investor protection under FCA
  • Negative balance protection under FCA and CySEC
Cons
  • Does not hold a banking license
  • Not listed on stock exchange
  • Financial information is not publicly available

Is ATFX regulated?

Yes, there are 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 & 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

How you are protected

There are four legal entities with different regulations and services you can choose. We recommend the FCA-regulated entity because it has the highest investor protection amount and FCA is one of the best financial regulators.

ATFX legal entities
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 & the Grenadines AT Solution Limited (ATGM)
No protection Financial Services Commission of Mauritius AT Global Markets Intl Ltd

Negative balance protection is also provided for clients under FCA or CySEC.

Background

AT Group is a global financial group and ATFX is the brand name of branches providing CFD and forex trading.

AT Group was founded in 2014. 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 increase transparency.

Filter the brokers by investor protection

ATFX review
Bottom line

ATFX is regulated by more financial authorities globally, including the top-tier FCA.

On the plus side, ATFX has low CFD and forex fees. The account opening is easy and multiple options are offered for deposit and withdrawal, which are free of charge.

ATFX  has some drawbacks though. The product range is limited to FX, CFDs, and cryptos. The sales team is pushy and fundamental data research is missing. 

As the trading fees are low and you can use a demo account, feel free to try ATFX.

ATFX main features and highlights

🗺️ 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 credit card Available
👛 Depositing with electronic wallet Available
💱 Number of base currencies supported 3
🎮 Demo account provided Yes
🛍️ Products offered Forex, CFD, Crypto

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70.16% of retail CFD accounts lose money

ATFX logo

AT Group is a global financial group and ATFX is the brand of branches providing CFD/forex trading services. ATFX has four legal entities with different regulations and services. In this review, we tested the service of AT Global Markets (UK) Limited, which is regulated by the top-tier FCA.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.16% 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.

Recommended for forex and CFD traders familiar with the MT4 trading platform.

Compare to other brokers

Overall 4 stars

Pros
  • Low fees
  • Fast and easy account opening
  • Multiple deposit and withdrawal options for free
Cons
  • Limited product portfolio
  • Pushy sales team
  • No fundamental data

Fees 5 stars

Pros
  • Low trading fees
  • Low non-trading fees
  • No withdrawal fee
Cons
None

Account opening 5 stars

Pros
  • Fast
  • Fully digital
  • User-friendly
Cons
  • Sales team pushy
  • High minimum deposit for accounts, except Standard Account

Deposit and withdrawal 5 stars

Pros
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
Cons
None

Web trading platform 3 stars

Pros
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Order confirmation
Cons
  • No two-step (safer) login
  • No price alerts
  • Poor design

Mobile trading platform 4 stars

Pros
  • User-friendly
  • Good search function
  • Modern design
Cons
  • No two-step (safer) login

Desktop trading platform 3 stars

Pros
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Price alerts
Cons
  • No two-step (safer) login
  • Poor design

Markets and products 1 stars

The available asset classes to trade:

  • Forex
  • CFD
  • Crypto

Research 4 stars

Pros
  • Trading ideas
  • User-friendly
Cons
  • No fundamental data available

Customer service 4 stars

Pros
  • Live chat
  • Great telephone and email support
Cons
  • No 24/7 support
  • Slow live chat

Education 5 stars

Pros
  • Demo account
  • Trading platform tutorial
  • Educational videos
Cons
None

Safety

Pros
  • Regulated by the top-tier FCA
  • High level of investor protection under FCA
  • Negative balance protection under FCA and CySEC
Cons
  • Does not hold a banking license
  • Not listed on stock exchange
  • Financial information is not publicly available

AUTHOR OF THIS REVIEW

Gergely Korpos
Gergely Korpos
Co-founder, CPO
Gergely's aim is to bring more clarity into personal investing. He has 10 years of experience in financial markets with GE Money, KPMG and MOL. He concluded thousands of trades as a commodity trader and financial portfolio manager

METHODOLOGY

Everything you find on Brokerchooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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