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|
For quite a few Forex traders worldwide, trading costs are one of the determinant factors of choosing a specific broker. Some of the best Forex brokers will usually provide a budget-friendly trading environment or at least the low-cost Forex trading account types. Both EagleFX and Forex.com provide multiple live trading account types with various features, benefits, and costs associated with trading on them.
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 spreads at EagleFX and Forex.com are different. Forex.com even further differentiates the spreads based on the account types. For instance, the commission accounts operate on ultra-tight spreads starting from as low as 0.2 pips on the popular currency pairs, such as EUR/USD. Standard account on the other hand provides traditional pricing of 1.0 pip spread on Forex products on average. There is a third, most prestigious account that operates on commissions only and offers spreads starting from 0.1 pip on the Forex currency pairs. EagleFX spreads start from 0.7 pips on EUR/USD currency pair, which is quite competitive taking into account the 1.1 pip spread of the NASDAQ on the same currency.
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.
When it comes to trading platforms and trading software, Forex.com has a little advantage over the EagleFX broker. EagleFX Forex broker provides MetaTrader 4 platforms and terminals for its customers, which is in fact an award-winning platform designed specifically for the purposes of trading currency pairs. It comes with powerful interactive charts, various analytical tools, and technical indicators. The trading platforms that EagleFX offers are compatible with virtually every device. EagleFX mt4 download link can be found on their main webpage. After that, customers can easily install the software on a PC and access it from the Desktop or use it directly from the trader’s browser as a WebTrader without the further requirement to download and install the software. Furthermore, the traders can access MetaTrader 4 platform from their mobile devices, as well. They can access the platform from both IOS and Android devices.
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.
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.
On the other hand, EagleFX to this moment holds no official license from any regulatory authority, so the answer to the question is EagleFX regulated, is no. That might be a risk-containing thing for few traders. Usually, the regulatory bodies ensure the legitimacy of the broker and make it much more reliable for the customers to use their brokerage services. However, EagleFX has no single negative review from the customers claiming that the broker has misappropriated any of their financial or personal data and the broker seems to have no legal issues going on.
You will not be able to find any EagleFX bonuses or trading contests at the moment and there is no information about whether the company is planning to introduce them or not in the near future. However, the broker has a relatively strong affiliate program that allows affiliates to refer traders and receive monthly payouts. The affiliates have an easy task to bring new traders or sub-affiliates to the brokerage platform. They will be eligible to receive automatic monthly earnings depending on the tier of the affiliate. The broker employs a multi-tier structure with five different levels. The responsibilities of the affiliates also include promoting the brand using a unique affiliate link. For each click, sign-up and a new trader the link owner earns 4 US dollars per traded lot. After the user reaches the 5th tier in the program, he can boost his earning power up to 5 US dollars per traded lot.
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.
|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.
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