ATFX

ATFX is an international forex and CFD broker that has been operating since 2017. With eight active licenses, including the UK's FCA, Australia's ASIC and Cyprus's CySEC, it belongs to the group of multi-regulated brokers. The key point for Iranian readers, however, is that ATFX does not serve residents of Iran. In this overview, we review ATFX's licenses, account, platforms, payment methods and risks based on Teagle's data.

What kind of broker is ATFX?

ATFX has about 9 years of history and offers trading in currency pairs, cryptocurrencies, metals, energy, indices and stocks on MetaTrader 4, MetaTrader 5 and the proprietary ATFX app. Teagle's data lists its country of registration as Saint Vincent and the Grenadines. Scalping, hedging, news trading, phone trading and the use of Expert Advisors are allowed with this broker, and deposit insurance is also listed among its features.

ATFX licenses and credibility

ATFX's main strength is its extensive regulation. According to Teagle's latest review, this broker holds eight active licenses:

• UK FCA (No. 760555) and Australia's ASIC (AFSL No. 418036), among the strictest regulators in the world;
• Cyprus CySEC (No. 285/15), under European Union law;
• South Africa's FSCA (FSP No. 44816);
• CMA (Capital Market Authority, No. 20200000078) and the Jordan Securities Commission (No. 643);
• FSC (No. C118023331) and FSA (No. SD093), which are considered the group's offshore and weaker licenses.

All of these licenses are listed as Active. The actual protection each client gets depends on which group entity their account is opened under; offshore licenses lack protections such as the European compensation fund. To assess these differences, read the guide Broker regulation tiers and the article What are offshore and onshore brokers .

Does ATFX serve Iranians?

No. According to Teagle's experts, providing services to users residing in Iran is prohibited at ATFX, and this is explicitly stated in the footer of the broker's official website. The lack of Persian support and the non-acceptance of Iranian identity documents also make registration and trading practically impossible for traders inside Iran. Accessing the broker's website also requires changing your IP. For this reason, Teagle does not consider this broker a suitable option for Iranian traders. Before choosing a broker, see the article Brokers prohibited for Iranians and how to choose a safe broker .

ATFX trading account

Only one account is listed for ATFX in Teagle's data:

• Live Account: minimum deposit of $500, floating spread from 1.8 pips, maximum leverage of 1:400 and a 30% stop-out.

This account has an Islamic (swap-free) version and can be used on MT4, MT5 and the ATFX app. Its margin call level is not listed in Teagle's table, and the requote row shows "Yes", meaning requotes are possible in volatile conditions. The $500 minimum deposit has also been confirmed by the broker's support. A spread from 1.8 pips is relatively high for a main account; to calculate the actual cost of trading, read the article Spread in forex trading .

ATFX platforms and services

Trading at ATFX is done on MetaTrader 4, MetaTrader 5 and the broker's proprietary app. Additional services include bonuses, copy trading and social trading, PAMM, support for Expert Advisors and trading robots, a virtual private server (VPS), a trading API, education, an economic calendar and forex calculators. If copy trading matters to you, the article What are social trading and copy trading explains the key points.

Deposits and withdrawals at ATFX

ATFX offers three payment methods: credit card, bank wire and e-wallet. Deposits and withdrawals are free with all three methods, and no daily withdrawal limit has been announced. Deposits by card and e-wallet take up to 30 minutes and by bank wire one business day, while withdrawals take one business day with all three methods. In the payment methods table, the minimum deposit for each method is listed as $100, whereas the account's minimum deposit is $500. There is no Rial or crypto method available for Iranians.

ATFX rating and risk on Teagle

ATFX's overall rating on Teagle is 3.1 out of 5: WikiFX 4.605, Trustpilot 3.7 and Forex Peace Army 1. The only review on Teagle is a question about how to register and does not describe any trading experience. The Teagle Eye risk index for this broker is 21 out of 100, in the "low to medium risk" category, mostly thanks to its eight active licenses and about 9 years of history. See comparable brokers in the low-risk broker rankings .

ATFX pros and cons

• Pro: reputable, multiple regulation, including FCA, ASIC and CySEC
• Pro: support for MetaTrader 4 and 5 and a proprietary app
• Pro: copy trading, PAMM and fee-free deposits and withdrawals
• Con: no services for residents of Iran and Iranian documents not accepted
• Con: no Persian support
• Con: $500 minimum deposit and relatively high spread on the main account

Who is ATFX suitable for?

ATFX is suitable for non-Iranian traders looking for a reputable multi-regulated broker with MT4, MT5 and copy trading. It is not suitable for traders residing in Iran. If you are looking for a broker with top-tier licensing, weigh it up in the ATFX vs FxPro comparison .

Conclusion

ATFX is in good shape in terms of regulation and platforms, but its official ban on Iran and non-acceptance of Iranian documents rule it out for Iranian users. Avoid registering with a false identity or residence, choose a broker that officially accepts Iranians, start with a small amount of capital and make a test withdrawal. Also keep up with the latest warnings on the investment risk warning page .