3.2 / 5

Rating breakdown

Ease of Use
Tradable Assets
Deposit and withdrawal
Trading Fees

Top alternative : OspreyFX

Is EagleFX safe? Yes EagleFX is a safe and secure broker. However, No broker is perfect, and EagleFX is no exception. While they do have a lot of pros, there are plenty of reasons why you might be looking for an alternative to EagleFX. So which brokers are better than EagleFX? Want to jump straight to the answer?

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Read our EagleFX review to find out if EagleFX is a scam or a reliable forex broker. Unbiased Forex brokers reviews that serve the interests of our users.

EagleFX Review and Analysis


eaglefx broker review EagleFX is a brokerage catering for the trading needs of those interested in trading in FX and CFD, including indices and cryptocurrencies. The review below touches upon all the relevant and useful information about the EagleFX offering, in an attempt to facilitate interested users to discern whether EagleFX is the most suitable and appropriate brokerage for their own specific and individual trading needs.

Investor Protection & Regulations

EagleFX is an unregulated broker, which is based in the Commonwealth of Dominica. As with all unregulated brokers, which are not licensed in any specific jurisdiction and do not fall under the scrutiny of a pertinent watchdog, their services do not necessarily comply with customer protection regulations. Though not officially regulated however, EagleFX does take measures to keep its clients’ funds safe by storing client money in external cold storage, keeping them safe from hackers and other potential threats.


Since EagleFX uses the MT4 platform, it ensures that its trading environment meets the highest available security standards based on the full encryption of data exchanged between servers. Additionally, security is further enhanced through the use of digital signatures, as well as Two-Factor Authentication (2FA) on the login page.

Tradeable Products

EagleFX clients can choose which asset to trade from a variety of available financial instruments across different asset classes. These include over 50 different currency pairs, a wide selection of indices, commodities and future contracts, as well as 31 different crypto coins. The offering is adequate to provide ample lucrative opportunities as well as cater for those who seek to effectively differentiate their investment portfolio.

Fees and Commissions

The live spreads offered by EagleFX are variable, starting from 0.1 pips. The typical spread on the EUR/USD are 0.7 pips and on the NASDAQ 1.12 pips, which compare favourably with industry averages.

Moreover, EagleFX charges a flat rate commission, currently at $6 per lot round turn and its overall fee structures and heights can be said to be not only comparable, but also competitive with most industry participants. Swap fees are also charged when users hold trades open overnight.

Trading Platform

eaglefx trading platform

All EagleFX clients trade via the MT4 platform, allowing them to take full advantage of this popular platform’s functions, such as analytical tools and dynamic charts, which enhance the trading experience of its users. Moreover, the simple and clear interface provided, conveniently allows trading straight from a chart with just one click. Besides being able to be downloaded on all windows operated computers, the trading platform may also be accessed directly from any web browser.

Mobile Apps

Besides its desktop and web-based versions, EagleFX also offers the MT4 mobile app which can be installed on both iOS and Android devices once it is downloaded from either the App Store or Google Play. The app allows those who wish to trade on the go, by putting at their disposal a full range of analytical features, with real-time quotes and trading straight from the chart. With the app being available in more than twenty different languages, though an interface that is both visually appealing and easy to navigate, trading has never been easier or more accessible.

Account Types

eaglefx open trading account

EagleFX offers a free demo account to all its users with unlimited access. This is very useful not only for novice traders, who can learn practice their newfound trading skills in real conditions, but without risking real funds, but also for seasoned traders who can access a venue where they can practice and test their new tactics and strategies before they can apply them in real trading conditions using actual funds.

EagleFX offers only one standard account type for all its clients with a very low minimum deposit requirement of just $10, which makes trading readily available to all. Under this trading account, the minimum lot size is 0.01 and the maximum trade size is 1,000 lots. Islamic traders may also trade on EagleFX, since swap-free accounts are also available.

Account creation is a fast and easy process which only entails the online registration and confirmation of a user’s email and phone number.


The leverage offered to traders trading via EagleFX varies depending on the asset being trade. On forex and metals leverage is generous and be up to 1:500. Similarly, indices and energies can be leveraged up to 1:200, whilst when trading cryptocurrencies, the offered leverage is up to 1:100.


The user experience when trading on clear and professional layout and structure of the EagleFX website is exceptional.

Trading Hours

Since Forex markets are open 24/5 and crypto markets are open 24/7 the available trading hours depend on the asset type being trader. EagleFX users may obtain the relevant information on specific asset trading sessions under the ‘specifications’ tab on the MT4 platform. All market hours provided therein are in GMT+3, but the EagleFX provides a useful time zone converter link in their FAQs section, which users can use to time their trading accordingly.

Customer Support

Customer support services may be obtained either via live chat, which is available on a 24/7 basis, or through submitting a ticket through the broker’s website, where the typical response time is 15 minutes. For customer queries or problems that can only be resolved by speaking to someone live, you can also request a call back after submitting your phone number. Usually, a member of the customer service team returns your call within a few hours.

Education and Research

To help its users make better and more informed trading decisions, EagleFX puts at their disposal a daily market analysis and an economic calendar:

Daily Market Analysis

EagleFX clients can access very useful daily analysis on which to base their trading decisions. This analysis covers different markets and different trading instruments, while also containing smart technical and fundamental analysis insights and tips, helping users improve their trading skills and chances for trading success.

Economic Calendar

The economic calendar featured on the EagleFX website is another very useful tool for the overall trading endeavour of its users, since it displays the most recent and upcoming news releases that can cause an impact on the various markets around the globe. By being able to be up to date with important announcements and developments, traders may take wiser and more timely trading decisions. The calendar may also be filtered to only display those items that each users is most interested in according to their own trading preferences.

Overall Conclusion – Final Thoughts

EagleFX is an established online brokerage which boasts thousands of users across the globe. Their clients appreciate the above average selection of tradable assets available, which also include several cryptocurrencies open for trading on a 24/7 basis. The tight spreads ensured, as well as the fast and reliable execution of transactions are some of the reasons why clients choose to trade with EagleFX. Moreover, the brokerage provides a secure, reliable, straight-forward trading environment thanks to its MT4 trading platform, which is packed with useful tools and capabilities which enhance one’s overall trading experience.

Frequently Asked Questions (FAQs):

How trusted is EagleFX?
The trusted source of information on fintech matters SBO, gave EagleFX a 3.17/ 5.00 rating based on analysing 20+ criteria and testing. EagleFX is currently in 7th place in this ranking. OspreyFX is currently rank as the number one.
Is EagleFX regulated?
No, EagleFX is not regulated. This means EagleFX are not supervised by any regulatory bodies.
Does EagleFX offer a welcome bonus?
No, EagleFX does not offer welcome deposit bonuses or any other similar promotional deals, such as live contests.
Is EagleFX a scam?
EagleFX is a legitimate company that has been featured in several well-known publications and has won awards for its offering. It also receives positive customer reviews online. However, it is also true that EagleFX does not hold a regulatory license and therefore will not provide the same level of protection as providers with well-known regulatory bodies such as the FCA or CySEC. In this sense, though not a scam, EagleFX users may potentially be at greater risk should something go wrong.

Broker's Features EAGLEFX Availability
Accepts US traders
24 hour trading
Demo account
Daily analysis
Automated trading
Mobile trading
Trading by phone
1st deposit bonus
Forex contests competitions
Bonuses Promotions
Interest charges on the balance
Free education
Expert advisors
Partnership programs
Trust management
24 hour support

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