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ATFX Review: What You Should Know Before Trading with ATFX UK in 2020

ATFX UK (AT Global Markets (UK) Limited) is a renowned and trusted online CFD and FX broker based in the UK. This FCA-regulated firm has its physical address in London.
Since its introduction, it has gained popularity among beginners and experienced traders due to its dedication to meeting the varying needs of various groups of traders. Its operations are geared towards the principles of trustworthiness and reliability.
Individuals with different levels of trading experiences can appreciate and benefit from the availed education resources, responsive customer care team, vast leverage options, and a wide variety of trading instruments. Besides, all its account types are characterized by competitive spreads and reduced fees. These features have contributed to ATFX UK’s competitive position in the industry.

Awards

ATFX Pros & Cons

Pros

  • An award-winning broker with over 200 asset offerings
  • A free demo account that is easy to open
  • All-inclusive education resources for all traders
  • Access to free daily analysis
  • Free and comprehensive economic calendar
  • Competitive spreads starting off as low as 0.6 pips

Cons

  • Unlike most brokers, ATFX UK does not offer bonds and ETFs
  • ATFX only offers the MT4 platform.
  • ATFX UK does not have the freeze rate feature
  • ATFX UK does not have the deal cancellation feature

Who is ATFX Recommended For?

Location, security, and trading education is a key criterion for ATFX UK clients. While ATFX Global Markets has a rather global jurisdiction, ATFX UK operates primarily in the EU based on its FCA license. The broker operates under strict guidelines from its regulator. As such, it is apt for EU-based traders looking for a well-established broker with a low-spread structure and commissions only on its upper-level trading account, trade on margin, and an MT4 trading platform.

Top ATFX UK Features

VPS

The free Virtual Private Servers (VPS) offered by ATFX is helpful to traders who employ automatic algorithmic trading strategies. With this feature, you are bound to enjoy the fastest latency and execution possible since it is hosted in a reserved high-speed data centre.

Spreads

ATFX has highly competitive spreads. For the professional and edge accounts, the spreads start from 0.6 pip. As for the premium and standard account, spreads are from 0.0 pips and 1.0 pips respectively.

Spread Betting Accounts

As one of ATFX’s products that is available to UK residents, spread betting is a tax-free setup that lets individuals take advantage of volatile FX, precious metals markets, and indices trading. The benefits of spread betting with ATFX include:

  • You are not required to pay any commission
  • Ability to make market predictions on rising and falling markets
  • Trade on margin
  • You don’t pay any UK stamp duty or capital gains tax
  • Competitive spreads starting from 0.6 pips
  • You get to limit trading risks by use of stop-loss limit orders as well as negative balance protection

Opening a spread betting account with ATFX involves the following simple steps;

  • Fill in the application form. Upon verifying your identity and address, the firm will set up an account for you.
  • Deposit funds into the account to start trading. You can do so through your E-wallet, bank transfer, or debit card.
  • At this point, you can trade on your web browser, iPhone, iPad, Android device, or PC.

Trading Platform

ATFX UK enables its clients to use the Meta Trader 4 platform (MT4), which is probably the world’s most popular trading platform. Its features include charting tools, automatic trading with expert advisors, the ability to use the MQL5 marketplace, and custom indicators. Individuals trading with ATFX UK can either use the desktop, web-trader, iPhone, or Android version of the MT4 trading platform.

Support Channels

Whether you are in the UK or other parts of the world, you can easily get in touch with an ATFX representative or your account manager through their hotlines that are operational throughout the week’s working days.
Their representatives speak English, Spanish, Italian, German, and Portuguese. As such, you can be sure that you will be assigned an expert who speaks your language to handle any of your concerns or questions.

Education

ATFX UK offers education resources that are helpful to experienced traders as well as beginners. It has accomplished this objective by availing the following resources:

  • Webinars on FX and CFD trading
  • Forex education centre
  • Web TV
  • Frequent seminars and workshops
  • Financial events
  • Premium course via InvestingCube.com.
  • Coaching via InvestingCube.com.

ATFX UK Overview

Regulation & Licensing It is licensed and regulated as an FX and CFD broker by the Financial Conduct Authority (FCA) under the number 760555. It also complies with the stipulated rules on Markets in Financial Instruments (MiFID) and the Financial Ombudsman Scheme (FOS).
Accepted Jurisdictions UK, EU, and worldwide
Assets Offered Currencies: majors, minors, and exotics commodities: e.g. natural gas, crude oil
precious metals: silver, gold, palladium, platinum cryptocurrencies: e.g Ripple, Ethereum, Bitcoin, Litecoin
indices: e.g. DAX, S&P 500, DOW Jones Industrial Average
shares: e.g. Apple, Google, Amazon
Platforms Available MT4 trading platform available in the following versions: Android, Desktop, iPhone, and Webtrader
Mobile Compatibility Yes, it’s mobile compatible. You can access it on an Android or iOS device, as well as a PC.
Payment Types Accepted Debit card, bank transfer, E-wallet
Languages English, Spanish, Italian, Deutsch, and Portuguese.

 

ATFX UK Account Types

ATFX UK has four major types of accounts that are meant to cater to the needs of different traders. The accounts include the standard account, premium account, edge account, and professional account.

Features ATFX Standard Account ATFX Edge Account ATFX Premium Account
Account currencies EUR, USD, and GBP EUR, USD, and GBP EUR, USD, and GBP
Available leverage Up to 1:30 Up to 1:30 Up to 1:30
Minimum deposit $€£ 500 $€£ 5000 $€£ 10,000
Starting spreads From 1.0 pip From 0.6 pip
Commission per trade No No Yes
Trading instruments FX, cryptocurrencies, commodities, shares, indices, and precious metals FX, cryptocurrencies, commodities, shares, indices, and precious metals FX, cryptocurrencies, commodities, shares, indices, and precious metals
Min. lot size per trade 0.01 0.01 0.01
Max. lot size per trade 30 30 30
Demo account Yes Yes Yes
Copy trading support No No No
Deposits / withdrawals: Free Free Free
Premium Course Yes Yes Yes
Coaching No Yes Yes
Free VPS ? No Yes Yes

ATFX Regulation

It is licensed and regulated as an FX and CFD broker by the Financial Conduct Authority (FCA). It’s FCA reference number is 760555 while its company registration number is 09827091. Additionally, it is in compliance with the stipulated rules on Markets in Financial Instruments (MiFID) and the Financial Ombudsman Scheme (FOS).

ATFX UK Spreads and Costs

ATFX UK’s spreads depend on the account type. For the standard and edge accounts, the spreads start from 1.0 pips and 0.6 pips respectively.  For the premium and edge accounts, ATFX UK charges spread from 0.0 pips and 0.6 pips respectively. Additionally, the firm does not charge its client any commission.

Non-trading fees

Non-trading fees refer to the charges that are not directly related to trading. With ATFX UK, traders are not charged any deposit, withdrawal, account, or inactivity fees. The reduced charges are one of the reasons why the broker is ranked highly in the UK and beyond.

ATFX UK Customer Service

ATFX has been intentional in establishing responsive customer care set up as a way of offering quality services to its clients. In fact, in 2019, ATFX received the Best Customer Service award from ADVFN. In addition to visiting one of their physical address, you can contact them through their hotlines (08002796219 or +442039577777 for those in the UK and outside the UK respectively). This option is applicable for 24 hours during working days. The ‘chat’ option on their website as well as the availed email addresses are also part of their elaborate customer care system.

The first step is to fill in your personal details including your first and last name, phone number, country of residence, account currency, the preferred account type, and the number of funds you intend to start trading with. After that, you will be able to download the MT4 trading platform.

Real account application

If you are ready to trade with real funds, then you can create a live account by going to the website’s homepage and clicking on ‘open live account’. After selecting your preferred language, you will be requested to fill in your personal details. You will then be required to fill in your financial details, experience, knowledge on finance, and acknowledgements as shown below.

Once you have provided these details, you will need to submit your proof of residence as well as your identification card. This is part of the legal requirements under the anti-money laundering (AML) and knows your customer (KYC) laws. Once you have fulfilled this requirement, you will need to complete the following steps before you can start trading:

  • Download the MT4 trading platform
  • Deposit funds into your account

Minimum Deposit

ATFX UK has four different types of accounts, all with different minimum deposit requirements. For instance, the minimum deposit required for the professional account and edge account is $€£ 5,000. For the premium account, you will need a minimum deposit of $€€ 10,000 while that of the standard account is $€£ 500.

Deposit and Withdrawal Fees

You can either deposit funds into your trading account via bank wire or online bank. As for online bank deposits, ATFX UK does not charge any deposit fees. However, depending on your bank, bank wire deposits may attract interbank deposit charges as well as bank remittance fees.

Similarly, ATFX UK does not charge its traders for withdrawals.

ATFX UK Education Offering

ATFX UK is keen on catering to the needs of professional traders and beginners alike. One of the ways that it does so is by availing a range of educational resources that are helpful in improving one’s knowledge and skills on trading.
The company offers free webinars that will enhance your understanding of CFD and FX trading. It also has a well-established Forex Education Centre where one can access e-books, trading strategies, guideline videos related to the MT4 platform, and comprehensive trading courses for free. ATFX UK further avails skill-enhancing information on its Web TV as well as the frequent workshops and seminars.
To add on to these resources, it consistently enlightens traders on the financial events affecting global markets. This approach is meant to equip the demo account and live account holders with the information needed to increase their risk-to-reward ratio when trading.

Conclusions

For beginners and experienced traders alike, ATFX UK is one of the reliable brokers in the market. In addition to being a licensed FX and CFD broker that is regulated by FCA, it complies with MiFID and FOS. From this perspective, clients can confidently trade with the broker without fearing the loss of their funds or unauthorized use of their personal details.
Additionally, it offers a wide range of trading instruments; some of which are not offered by other brokers. ATFX UK customers can trade in shares, CFDs, FX, Precious metals, currencies, cryptocurrencies, indices, and commodities. However, adding bonds and ETFs can further increase the value of the ecosystem.
Overall, ATFX UK is a reliable broker that is dedicated to offering its clients a platform to trade successfully. Its dealings exude reliability, honesty, and transparency.

Trading Platform Screenshots

ATFX FAQs

Q: What is ATFX UK’s jurisdiction?
A: ATFX UK is regulated by FCA hence operates primarily in the UK. For other parts of the world, consider ATFX Global Market.
Q: How do I reach ATFX UK?
A: You can get in touch with a representative or account manager at ATFX UK by either visiting the firm’s physical address, using the chat option on their website or using the hotlines availed on their website at any time within the working days.
Q: How do I view all the products provided by ATFX UK?
A: Go to ‘Market Watch’ in a demo or real account of ATFX. After that, right-click and select ‘Show All.’ You can also check out the following page:

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