Traders Union’s latest broker analysis has brought considerable global attention to EagleFX and Trading 212, garnering both positive and negative feedback from traders.
EagleFX review stated that the brokerage distinguishes itself by catering to active traders while remaining accessible to all types of market participants.
In 2020, the company clinched prestigious awards, such as FX Broker With Best Withdrawal Options, and Best Forex Broker. Its appeal lies in its efficient account registration process, which takes only a few minutes.
To bolster support, the broker offers round-the-clock customer assistance and employs Straight Through Processing (STP) technology for swift order execution, reducing the risk of slippage.
The application of STP and ECN technologies ensures rapid order execution and competitive spreads. While the firm does not offer bonus programs or incentives for funding, it places a strong emphasis on data security.
Accessibility is also enhanced as clients can trade in any device, and the safety of user funds is ensured through the use of a cold storage method, protecting against cyber threats.
However, it is not all rosy with EagleFX as the platform does not provide passive income opportunities like automated trading or copy trading programs. At the same time, its website lacks educational resources which could be beneficial for traders aiming to enhance their skills.
Meanwhile, the sole avenue to generate income without direct trading involvement is through its referral program. For each trader who registers through the unique referral link, the referrer receives a bonus of $4 for each completed transaction.
As for trading conditions, EagleFX offers a diverse range of Forex instruments under two types of trading accounts with a maximum leverage of 1:500. Correspondingly, clients can employ various strategies, including scalping, hedging, and news trading.
Nevertheless, it is crucial to note that EagleFX operates without regulatory oversight and lacks affiliation with compensation funds, potentially posing a risk for traders in case of insolvency.
EagleFX is a broker tailored to those seeking active trading opportunities, but potential clients should carefully evaluate its pros and cons before choosing it as a trading partner.
Aside from a lack of regulation, traders interested in passive income options or extensive educational resources may find it necessary to explore other alternatives in the highly competitive Forex landscape.
Another Forex broker gaining attention is Trading 212, which has a TU score of 4.62 out of 10, which suggests a higher-than-average risk.
The company has received positive and negative reviews during its operation, and its support team is known for providing qualified assistance to resolve client questions and problems.
Is Trading 212 safe? Unlike EagleFX, the broker is regulated and licensed by the UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).
However, trading analysts recommend users to consider more reliable brokers with better conditions, as there are reviews from Trading 212 clients expressing dissatisfaction with the company’s services.
Trading 212 ranks 100 among 350 companies featured in the Traders Union Ranking, which evaluates brokers based on various criteria. While the broker offers low minimum deposit requirements, it prioritizes service and trading conditions over educational programs.
Remarkably, market participants should carefully consider their options and conduct their research, including reading client reviews, before choosing to trade with Trading 212 or EagleFX.