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EagleFX Review | Security, Apps & Features | Invezz

There is very little information about the broker’s background on their website. But a quick look at the profiles of such reputable forex sites as Forex Peace Army as well as some of their user reviews indicates that the brokerage was founded in 2019. This makes it no more than a few months old and…

EagleFX Overview

There is very little information about the broker’s background on their website. But a quick look at the profiles of such reputable forex sites as Forex Peace Army as well as some of their user reviews indicates that the brokerage was founded in 2019. This makes it no more than a few months old and is currently registered and headquartered in the Dominican Republic. Note that the broker isn’t regulated or licensed in a major global financial district. On this website, however, you will have access to 100+ forex and digital asset trading instruments.

Here is the detailed account of everything you will want to know before registering for a trading account with Eagle FX:

Account types

EagleFX only maintains two types of accounts the MT4 ECN live trading account and the MT4 demo trading account. This is unlike most other online trading platforms and brokerages that host several types of live trading accounts suited for the varied classes of high-volume and average traders. Both these accounts feature a simplistic dashboard and have the US-Dollars as its base currency. Deposits to the live trading account can be made in EUR, GBP, USD, and Bitcoin (BITS). Here, all the deposited funds are held in what the online brokerage refers to as the ‘Vault’ and will only move to the trading section when you enter into a trade position.

EagleFX and their one Live Account will also provide you with a sharia-compliant trading account upon request. These are, however, not available by default and you will need to contact their customer support and have them set it up for you. These accounts are secured with a password but you are free to fortify it further with the two-factor authentication feature. The biggest perk to operating the Islamic account (also known as Swap-free account) is that orders held overnight don’t attract the overnight financing fees.

Platform

EagleFX doesn’t have a proprietary trading platform yet and, therefore, relies on the all-popular Meta Trader 4 (MT4) platform. Once registered with the forex broker, you will have to download your preferred trading platform. These range from the MT4 for windows and MT4 for MAC desktop apps that can be downloaded for free on the Eagle FX website. Mobile traders are also free to download the Android and iOS versions of the MT4 trader availed on the Eagle FX website. Similarly, traders can choose to use the Web Trader.

On either platform, you will have access to a variety of trading tools, analytical and technical indicators, and highly interactive charting options. From here, you can choose between instant and market modes of trade execution. Similarly, you will have access to stop order and trailing stop functionality among other risk management tools.

In addition to these are the quick trading functions that allow you to lock in trading orders from the chart with a single click. Plus, according to the broker, you will have access to over 30 technical indicators, 24 graphic tools, and have every symbol displayed in 9 timeframes. These allow for the most comprehensive use of analysis of the price movements for the different trading instruments.

Leverage

EagleFX supports leveraged trades with the minimum leverage set at 1:1 and the maximum capped at 1:500. You will note that most brokerages with different types of accounts have limits to the use of leverage where the maximum limit is preserved for high volume traders. But since Eagle FX only has one live trading account, the relatively high leverage is available to everyone with an Eagle FX trader account. 

Trade sizes

Some of the most popular online forex industry players have the maximum lost sizes set at 100 lots. EagleFX, on the other hand, has its minimum trade size at 0.01 lots while its maximum trade size is at a highly competitive 1,000 lots. This makes it quite attractive to high volume traders.

Trading costs: fees and commissions

EagleFX imposes overnight fees on all open swap positions. And according to the broker, the specific charges vary from one trading instrument to another. Unlike most other forex brokers that list of these overnight charges on their website, Eagle FX requires that you contact their support team for this information.

Trading commissions here stand at $6 for each lot traded. This rate is adjustable to suit smaller trading sizes. For instance, if you entered into a micro-lot trade – 0.1 lot – the commission for the trade would be $0.6. And given that the broker has its minimum trade size at 0.01 lots, the minimum trading commission here, therefore, stands at $0.06.

Assets

Despite being a few months old, it is interesting to note that EagleFX currently has over 100 financial instruments available for trade. These cut across the indices, cryptocurrency, forex, futures, and even the commodities markets. Featured here are all the 7 major forex pairs and an additional 48 forex trading pairs. On the crypto markets, Eagle FX features 31 crypto options that include both fiat-to-fiat and crypto-to-fiat trading pairs. There also are 11 equity indices, 6 spot metals, and 3 energy products featured in the commodities market. Of these, only the crypto market is open 24/7.

Spreads

EagleFX adopts a relatively advanced approach to pricing their CFD and FX spreads through the live spread feature. Here, spreads are highly variable and are updated every 10 seconds on the site’s live spread area. The upside to trading with the variable live spreads is that traders get to enjoy competitively low spreads when the market is largely calm. On the flipside, slight peaks in volatility oftentimes result in high spreads.

Minimum deposit

Most online brokers have varied minimum deposits for the different trading accounts supported on their platform. The fact that Eagle FX has one trading account means that the minimum initial deposit of $10 applies to all of their clients here. The broker is quite vague with regard to the maximum account operating balance. It is also interesting to note that all the deposits are first held in the vault before moving to the trading section to collateralize the trading positions you have entered into.

Deposit methods and costs

EagleFX accepts three primary deposit methods. You can choose to deposit funds here through the bank wire transfer, the Visa/MasterCard, or in the form of Bitcoins. The broker further adopts the zero-fee policy on deposits by committing to foot the transaction charges resulting from your choice of funding method.

Withdrawal methods and costs

The online broker also supports three primary withdrawal options. You can opt to have your withdrawals made in the form of bitcoins, in PayPal dollars via Coinbase or channeled to your prepaid MasterCard. And just like the deposits, withdrawals are 100% free. Eagle FX is also one of the few online brokerages that guarantee that the withdrawn funds reach your account within the same day.

Withdrawal Processing and Wait Time

EagleFX reviews all withdrawal requests on the same day, ensuring you get your money as soon as possible. Its withdrawal process doesn’t need a verification process, making it faster and handy. If you want your money even quicker, consider withdrawing via Bitcoin, which allows you to withdraw via the Bitcoin-purchasing Instacoin service, or any Bitcoin wallet of your choice.

Security of funds and account

As mentioned earlier, EagleFX supports the two-factor authentication security feature that will be activated immediately upon request. The security features implemented by the broker, however, extend way beyond the login page and into the handling of your deposited funds. Eagle FX, for instance, assures its cryptocurrency traders that their funds are held in cold storage. Only small amounts of these coins meant to facilitate fast withdrawals are maintained on the broker’s servers.

The company further mentions that partnering with the world’s leading payment processors doesn’t just ensure speedy deposits and withdrawals. It also leverages the measures they have put in place to secure deposits and withdrawals.

Education and trading tools

The online broker pays little emphasis to forex education and training. Unlike some FX and crypto brokers who have updated sections of their websites dedicated to helping beginner traders get through the industry, Eagle FX only has the news sections. Here, you will find the economic calendar and technical articles detailing the current market trends and trade ideas.

Bonuses and promotions

EagleFX doesn’t offer any deposit or redeposit bonus schemes. On this front, their honesty is laudable. However, the company has not ruled out offering promotions in the future. If you like the sound of being able to trade with free money, keep checking their website for any updates.

Countries accepted

EagleFX has not specified which countries it supports. The broker is yet to receive accreditation by major regulators around the world and it accepts traders from all over the globe. However, United States traders cannot invest with the platform as it has not been regulated by the Securities and Exchanges Commission or the Commodity and Futures Trading Commission.

The broker reserves the right to conduct due diligence on traders from certain countries as they deem fit from time to time.

Customer support

There are three primary ways in which you can access the EagleFX customer support team. You can engage them directly via Live Chat that has a near-instant response time. Alternatively, you can send a query ticket via email with an average response time of 15 minutes. You can also submit a callback ticket and have one of the company’s representatives call you back. These have the backing of an elaborate FAQ section. It addresses common queries on deposit and withdrawal handling, trading, and MT4 platforms.

Some of the most interesting facts about the EagleFX customer support is their fast response and availability. Note that while most online brokerages will only be available 24/5, Eagle FX customer service is open 24/7. Most of the queries we raised were resolved immediately and this is a good indicator of the customer service team’s proficiency. The only major downside to this online broker’s customer support is that it is only available in the English language.

Demo account

EagleFX also provides traders new to their platform or the online trading industry a demo account. The account is free and features all the trading tools and analytics contained in the Live Trading account. It outperforms most demo accounts fronted by different other brokers in several ways. For starters, Eagle FX doesn’t impose a time limit for the use of the demo account. Plus unlike most brokerages that will present you with a specific amount of virtual cash, Eagle FX gives you the freedom of determining the virtual fund balance that you would like to start with.

You are also free to replenish these virtual funds as often as possible. The demo account can be operated on the free Windows MT4 platform, Android or iOS mobile MT4 traders or on the Web Trader. Plus you are free to set the base currency for your trades as either USD, EUR, GBP, or BIT.

What to keep in mind

  • The online broker’s risk protection measures don’t include negative balance protection. You, therefore, stand to lose more than the amounts staked for a particular trade. This is highly suspicious of a trader that boasts of innovativeness and a deviation from the current trend where virtually every broker is employing negative balance protection measures to safeguard their client’s interests.
  • Some of the key operational services featured on the Eagle FX website will not be available to everyone. European Economic Area residents, for instance, cannot enjoy the attractively high leverages availed by the broker. United States residents, on the other hand, can only engage in crypto trades as the country bars CFD trading.
  • You will also do well to remember that Eagle FX is relatively new and thus not regulated by any major international brokerage firm or agency.

Conclusion

EagleFX, despite being a few months old, stands out in the online brokerage industry with its rich resource of advanced trading tools and features. It also features a host of competitive trading features that range from zero-fee deposits and withdrawals, same-day withdrawal processing, 24/7 customer support for both the FX and crypto traders as well as their ultra-fast trade execution made possible by the innovative Straight Through Processing of orders.

The broker isn’t, however, fault-free and we have spotted several operational areas that need urgent improvements. They, for instance, need to work on increasing their tradable financial instruments, strengthen their risk management measures, and also work on the regularization and licensing of the broker to earn themselves more credibility. Plus while the free and unlimited demo accounts come off as a promising training ground to beginner traders, we would like to see the company come up with more training and educational resources for both the newbie and slightly experienced traders.

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RoboForex adding EOS Cryptocurrency

RoboForex adding EOS Cryptocurrency

RoboForex announced today adding EOS, a cryptocurrency which is now available for trading with the broker on both MT4 and MT5 platforms.

Roboforex added EOS CryptocurrencyCurrently, RoboForex clients have 7 crypto instruments to choose from.

RoboForex keeps expanding its crypto portfolio.

The latest addition is EOSUSD, which is already available to the clients through MT4 and MT5, alongside with six other crypto pairs:

BTCUSD, ETHUSD, BCHUSD, DSHUSD, LTCUSD, and XRPUSD.

The EOSUSD trading conditions are the following:

  • minimum lot size: 100,
  • minimum increment: 0.01,
  • leverage 5:1.

EOS is a cryptocurrency that was introduced in 2017 and is based on blockchain and smart contracts. Its key features are scalability, decentralized apps, and huge throughput (a few million transaction per second).

This is another step towards developing our crypto portfolio.

Our clients do value the flexibility and state of the art technologies we offer them As for us, our mission is meeting their expectations and constantly improving the trading conditions by opening the door to new instruments and opportunities.

says Denis Golomedov, ;Marketing Director at RoboForex.

Roboforex and Cryptocurrency

This Broker has been on the forefront of crypto trading on the Metatrader 4 and Metatrader trading platforms from the beginning and pushing for more and more trad-able assets to be added to their offering .

it took this broker a little bit of time but now that they got them selves into the cryptocurrency trading arena they come to lead the pack. this in combination with their the trading platforms they are offering makes this a broker to take notice of.

as yet there are not enough brokers that offer metatrader 5 and especially one where you are able to trade bitcoin ethereum, litecoin and now also EOS.

About RoboForex

RoboForex is a brokerage company catering to clients from various countries. The broker’s focus is providing the traders with access to its own financial market platforms.

RoboForex Ltd is a licensed company (License No. IFSC/60/271/TS/17).

 

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Local bitcoin Trader Jailed for Money Laundering

Indicted: Local bitcoin Trader Jailed for Money Laundering

Local Bitcoin trader, Theresa Lynn Tetley, also widely known as Bitcoin Maven has been indicted for indulging in illegal bitcoin-for-cash transactions. According to the Central District of California, the LocalBitcoins.com trader has been sentenced to 12 months in prison.

She has also been handed a three-year supervised release and a $20,000 fine. A former real estate investor and stockbroker, the court ordered her to relinquish $292,264.00 in cash, 25 assorted gold bars, and 40 bitcoin.

money launderingTetley pled guilty to one count of operating an unlicensed money exchange business, and another related to money laundering. Her case is the first of its kind in the Central District of California.

Tetley was procedurally supposed to register her business with the Financial Crimes Enforcement Network, an agency of the United States Department of the Treasury.

The agency is responsible for analyzing transactions to curb money laundering and related financial crimes. She also failed to implement standard anti-money laundering protocol, including reporting of certain financial sources as per the requirements of this type of business.

Tetley is said to have traded over $6 million for clients within the United States and charged higher rates as compared to other traders within the LocalBitcoins platform.

Also noted in the court documents was that Theresa Lynn laundered bitcoin for a customer who had been suspected of having acquired the cryptocurrency through illegal activities, including drug sales on the dark web.

She also carried out a bitcoin to cash transaction for an undercover agent who had explicitly declared that his bitcoin was tied to narco-trafficking operations.

According to the report, Tetley’s service was responsible for fueling the growing use of cryptocurrencies to launder money and supported a black market system set up purposely to circumvent the law.

The organizations involved in her investigation included the IRS Criminal Investigation and the Drug Enforcement Administration.

Just One of Many

That said, the government has been committing significant resources to counter the crypto – dark web menace, and earlier this month, a major sting operation was carried out against a major money laundering network. Thirty-five suspects were arrested.

One individual, identified as John Edward Monette, was charged with Conspiracy to Distribute a Controlled Substance. He was also alleged to have carried out numerous bitcoin for cash exchange transactions on the dark web, most of them in 2017 and totaling about $19,000.

Another dark web vendor busted during the operation, Ryan Farace, 34 was indicted for being involved in an alprazolam tablets manufacture and distribution scheme.

He sold the drugs on the dark web, with all transactions being made in bitcoin. Additional digital currency money laundering transactions were made to conceal the sources.

Article Originally Published:

By ELIZABETH GAIL at Coincentral

 

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Why You Need to Get Onboard With Blockchain!

Why You Need to Get Onboard With Blockchain!

Blockchain tech – so revolutionary in nature that some are calling it the “new internet.” It has applications in just about every industry, and has completely altered the way we think about internet security, the processing of information, and the speed of transactions.

Blockchain is the technology that supports the digital currency  or cryptocurrency called Bitcoin –

however this is not what it is really about as it has a far wider scope of applications and is being commercialized in a growing number of areas.

It has generated much interest in technology circles and beyond, because of the new possibilities it opens up in financial services, the public sector and other areas.

According to sites like BitFortune.net, blockchain tech is definitely worth keeping an eye on due to the myriad of benefits it provides.

Blockchain and Bitcoin are not the same thing – Bitcoin is implemented using blockchain technology, but blockchain technology can be used in contexts much wider than Bitcoin or other cryptocurrencies. so when we are talking about the blockchain we are talking about a combination of a number of technologies, these including:

  • Distributed ledgers.
  • The blockchain data structure.
  • Public key cryptography.
  • Consensus mechanisms.

Part of what makes it so exciting is that it is completely open source. As a result, there are already a number of interesting blockchain apps, and the number is growing daily.

The technology is so secure that it is already being used by DARPA to secure military data. Various governments around the world are working on ways to use the tech to protect their own data.
The tech is tamper-proof, and the data stored within it is permanent. It cannot be erased or altered, and this is what makes it so enticing to those needing more secure networks.

But there is more, folks. (Okay, so that sounds a bit like an infomercial, but the benefits are real nonetheless.) Transactions can speed across the network – taking only as much time as it takes for them to be authorized.

The blockchain cannot be described just as a revolution. It is a tsunami-like phenomenon, slowly advancing and gradually enveloping everything along its way by the force of its progression.

William Mougayar

The system runs without the need for an intermediary, and this reduces the time it takes to execute transactions. This, and the unique way that the tech works, means that costs are significantly reduced as well.

What makes it so revolutionary is that the information is spread across every computer within the network. With Bitcoin, that means the data is securely “backed up” over thousands of computers.

Now, it is unlikely that banks will entrust their data to a public network in the same way, but they have been working on creating networks of their own instead.

The potential savings in terms of cost and time are extensive. If you want to learn more about these savings, check out the infographic below.

 

Why You Need to Get Onboard With Blockchain!


Why You Need to Get Onboard With Blockchain!


Visit bitfortune.net . for more interesting Infographics

Guys did an amazing job and was allowed to share.


 

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