EagleFX and Forex.com are considered reputable and trustworthy Forex brokers among different kinds of traders around the world. Both of the brokerage firms benefit from the large customer base who remain as their loyal clients throughout the years. These brokers operate on a multinational scale providing brokerage services to more than 100 countries across the globe. They also have diverse financial trading instruments portfolios along with the competitive and favorable trading conditions offered to their customers. EagleFX and Forex.com have also won a number of industry awards for the best quality of their services.
No matter how many similarities these two brokers share with each other, they still differ greatly. Mostly, the difference lies in their available trading assets, regulatory framework, promotional programs, and trading conditions, obviously. Furthermore, Forex.com is a little bit more experienced than EagleFX. However, as EagleFX emerged later, it provides more recent technology and platforms to trade. The review below is going to focus on the comparison of EagleFX and Forex.com, their trading environment, the products that they offer, and the safety of the traders with each of these two brokers.
When it comes to choosing your favorite Forex broker, there are some important trading features that one should keep in mind, such as spreads, leverage, minimum deposit, trading platforms, etc. Below, you can see additional information about each of these brokerage companies – with them, your decision-making process will get much easier.
Rating | Minimum Deposit | Maximum Leverage | Regulations List | Trading Platforms | Promotions | |
EagleFX | 10 USD | 1:500 | N/A | MT4 Web, MT4 Desktop, MT4 Mobile Devices | Affiliate program | |
Forex.com | 100 USD | 50:! | FCA, FSCA | MT4 Web, MT4 Desktop, MT4 Mobile Devices, MT5, WebTrader | 20% deposit bonus, cash rebates |
EagleFX charges commission fees since their spreads on Forex and other products are quite competitive, therefore, a broker has to somehow generate the revenue. The commission fees applicable to EagleFX trading accounts are 6 US dollars per lot round turn. Additionally, EagleFX’s minimum deposit is $10 which is pretty competitive and correlates with the industry’s standard.
Forex.com on the other hand provides a very cost-efficient trading environment. They do not charge for the data exchange fee, however, rollover, or swap fees might apply to the positions held overnight. Depending on the account type that the traders choose with Forex.com broker, some might be liable to pay for the commission fees, as well. For example, usually, Standard account holders are not charged with the commission costs, except for trading with equities. On the other hand, the commission account comes with the fixed commission fees. The cost is a flat 5 USD commission per standard lot (100K) on Commission Account.
Both EagleFX and Forex.com offer favorable conditions in terms of trading benefits for their clients.
The leverage is much more flexible with EagleFX broker going up to a maximum of 1:500, whereas, Forex.com can only offer a leverage of up to 50:1 on Forex assets. Nevertheless, the trading instruments portfolio is much more diverse with Forex.com, as well. The broker offers everything from Forex, Indices, Stocks, Commodities, Gold and metals, cryptocurrencies, oil, and Futures, or Futures Options. Whereas, EagleFX is equipped with Forex, Cryptocurrencies, Commodities, Stocks, Indices, and Futures.
Start trading with low spreads – EagleFX
EUR/USD | USD/JPY | GBP/USD | USD/CAD | AUD/USD | |
EagleFX | Yes | Yes | Yes | Yes | Yes |
Forex.com | Yes | Yes | Yes | Yes | Yes |
On the other hand, Forex.com goes further and offers Expert Advisors along with the above-mentioned MetaTrader 4 terminals, WebTrader, desktop software, and mobile apps. MetaTrader Expert Advisors, or MetaTrader EAs as they often call it optimize the strategy of a trader with a suite of over 20 EAs to grant them professional-grade control and maximum flexibility. The traders can access custom indicators including Pivot Points and Highs and Lows, Chart-in-Chart features, and nine EAs including Sentiment Trader and an Alarm Manager.
Open your MT4 account with EagleFX
Forex.com and EagleFX have somewhat different approaches towards the matter and offer various safeguarding methods against any violation of the trader’s rights or data security. EagleFX introduces Bitcoin Cold Storage which is a special method that protects the customers’ funds. Instead of presenting the funds on servers and computers, this method instead involves saving the funds on an external storage device that is inaccessible by hackers. However, they still keep an anticipated amount of their funds on their servers in order to process the withdrawal requests in a timely manner. These funds are furthermore hedged on the largest global exchanges and are not affected by the fluctuations in Bitcoin rates.
ETF | CFD | Commodities | Stocks | Energies | Metals | Currencies | Cryptos | Indices | |
EagleFX | - | Yes | Yes | Yes | - | Yes | Yes | yes | Yes |
Forex.com | - | - | Yes | Yes | yes | yes | Yes | Yes | Yes |
Right now, we were not able to find any active bonus programs available on Forex.com, however, they do have an Active Trader Program for high-volume traders. What this means is that if you are actively involved in Forex market activities, you will enjoy an exceptional trading experience tailored to your needs. The benefits of being an active trader include reduced trading costs by up to 15% with cash rebates, along with one-on-one support from market strategists and reimbursement on bank fees within the wire transfers. In order to qualify for this program, you need to open an account with a minimum of $10,000 or trade at least $25 million of volume in a month.
Pros | Cons | |
EagleFX | 1:500 Leverage | No bonus programs |
Lower Minimum Deposit | No regulation | |
Trading Strategy Freedom | Lack of experience | |
Forex.com | Diverse Portfolio | 50:1 Leverage |
Multiple Industry Regulations | Higher Deposit Requirements | |
Bonus Programs | Restricts Trading Strategies |
It is difficult to say that any of these two Forex brokers is more preferable and recommended than the other so that the statement universally applies to all sorts of traders. It really depends on your trading goals in the first place, your trading strategy and risk tolerance, as well as your budget and planned expenditure on trading. Furthermore, you may decide that you prefer EagleFX due to the certain trading assets provided in the financial instruments portfolio compared to Forex.com. However, you might think it is better to avoid this broker at all as you do not trust unregulated Forex brokers.
Moreover, Forex.com might look more appealing for the clients looking for immediate rewards in their trading kickoff thanks to the welcome bonus program of the broker. However, EagleFX concentrates more on retaining the existing customers and converting new clients into loyal and long-term users of the broker. Therefore, an affiliate program might suit you better if you plan to remain with the broker for some time. If you are a somewhat experienced trader then you will benefit more from the EagleFX leverage of 1:500 which is pretty flexible. Similarly, if you are looking for ultra-tight spreads with low commission levels to trade multiple assets within an extremely diverse trading portfolio.
Benefit from convenient trading conditions – EagleFX
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