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Finding the finest online brokerage business to automate your trading is one of the most difficult jobs, regardless of whether you are a rookie, intermediate, or expert trader looking to do so.
I reviewed EagleFX, one of the fastest-growing names in the online brokerage sector, to assist you in choosing the best broker.
This review will go over EagleFX to see if it really is the best forex trading software out there.
You’ll learn whether forex trading is the right type of business for you.
If you’re like most of my readers, you came across EagleFX for one main reason:
You want to make more money than you currently make by leveraging your existing resources.
Maybe you’re even looking for a quick turnaround on some of your cash instead of waiting years or decades for it to double.
Well, you’re in good company – who wouldn’t want all of that?
There’s one thing you need to watch out for though: legitimate scammers.
The idea of making 10X on your money in a day is obviously something that would entice the masses, and so it naturally attracts a lot of bad actors into the financial products space.
But for purposes of this review, let’s assume these people had the best of intentions.
Even with the most sophisticated systems out there, most experts barely manage to get it right 10% of the time…
Obviously, there’s an argument to be made that 1 winning bet can outshine 10 losing ones…
But if you mess up and miss a trade even once, your month can turn sour pretty quickly.
Suffice to say; there’s a whole lot of stress & uncertainty.
Now don’t get me wrong, it doesn’t mean you’re guaranteed to lose money. I’m just saying that you need to be aware of what you’re getting yourself into.
But what if you could build a different income stream, and start seeing profits within your first few days?
I’m talking about a system that doesn’t require:
- Obsessively checking your phone and charts
- The emotional turmoil of loss after loss, waiting for that win
- Glorified gambling
Something that you could make anywhere from $2,000 – $10,000 with consistently, month after month?
A stream of income that you can build as high (or low) as you feel like building it, without spending every waking hour watching for alerts and pouring over charts?
If that sounds interesting, you might consider becoming a Digital Landlord.
If you wanna see what EagleFX looks like on the inside, keep reading.
What Is EagleFX?
EagleFX is a global online financial trading platform and multi-asset broker that was established in 2019.
After over two years, EagleFX has expanded to provide individual retail investor accounts with Forex trading, CFD trading, and cryptocurrency trading.
EagleFX is a worldwide broker and is headquartered in Dominica.
Finding a broker who suits your demands when investing in the financial markets could take a long time.
In this EagleFX review, I will delve deep and examine how effectively the EagleFX platform performs as an international multiple financial asset trading platform for traders in 2022.
Frequently, you must browse and read various broker websites, each of which utilizes a different language. The language can be somewhat perplexing.
It can be tough to select an online broker such as EagleFX. The first few challenges for a newcomer can be what looks to be a complex mobile trading or online trading platform, challenging to understand investment lingo and perplexing cost arrangements.
In my EagleFX review, I discuss the benefits and drawbacks. What EagleFX has to offer, and where EagleFX may be found.
EagleFX Account Types
MT4 ECN lives trading accounts and MT4 ECN demo trading accounts are the only accounts offered by EagleFX.
This is unlike most other online trading platforms and brokerages, which provide a selection of live trading accounts geared to the different classes of high-volume and typical investors.
Both of these accounts have a simple interface and use US dollars as their base currency. Deposits into the live trading account are accepted in EUR, GBP, USD, and Bitcoin (BTC).
All deposited funds are held in the “Vault” section of the online brokerage and will only be transferred to the trading section when you enter a trade position.
On request, EagleFX and its Live Account will supply you with a Sharia-compliant trading account. However, these are not enabled by default, and you will need to contact their customer care to enable it for you.
These accounts are password-protected, but using the two-factor authentication function can strengthen them even more.
The most significant advantage of using an Islamic account (also known as a Swap-free account) is that orders held overnight do not incur overnight financing fees.
The Meta Trader 4 (MT4) platform is used by EagleFX, which does not yet have its trading platform. . You should know that the MetaTrader 4 (MT4) trading platform was originally designed to trade Forex. Still, you may also trade CFDs and Spread Betting on other financial products. To begin trading, you must first sign up for an account with your chosen Eagle Fx broker and then download your preferred trading software.
All of them may be found on the Internet, including free programs for Windows and MAC computers called MT4 and MT4.
Mobile traders can also obtain the Android and iOS versions of the MT4 trader from the EagleFX website. Similarly, traders have the option of using the Web Trader.
You will access various trading tools, analytical and technical indicators, and highly interactive charting choices on either platform.
You can choose between instant and market trade execution modes from here. You will also have access to stop order and trailing stop features and other risk management tools.
In addition, quick trading tools allow you to lock in trading orders from the chart with a single click.
Furthermore, the broker claims you will have access to over 30 technical indicators, 24 graphic tools, and every symbol shown in 9 timeframes.
These provide the most thorough use of price movement analysis for the various trading instruments.
EagleFX allows leveraged transactions with minimum leverage of 1:1 and maximum leverage of 1:500.
You will notice that most brokerages with different types of accounts have leverage limitations, with the greatest level designated for big volume traders.
However, because the broker only has one live trading account, the comparatively large leverage is available to all EagleFX trader accounts. They also offer negative balance protection for their customers.
Sizes For Trade
The maximum lot size for some of the most well-known players in the online forex sector is set at 100 lots.
EagleFX, on the other hand, has a minimum trade size of 0.01 lots and a maximum trade size of 1,000 lots, which is incredibly competitive.
This makes it very appealing to high-volume traders.
EagleFX Trading Costs: Fees & Commissions
All open swap positions at EagleFX are subject to overnight costs. And according to the broker, the particular charges vary depending on the trading instrument.
Unlike most other forex brokers, Eagle FX requires you to contact their support team to obtain this information.
Trading commissions are set at $6 per lot traded. This rate can be adjusted to accommodate lower trade amounts. For example, if you entered a micro-lot trade (0.1 lot), the charge would be $0.6.
And, given that the broker’s minimum deal size is 0.01 lots, the minimum trading commission here is $0.06.
Although EagleFX is just a few months old, it already has over 100 trading instruments available. Among them are the indexes and markets for bitcoin, foreign exchange, futures, and commodities, to name a few.
Moreover, all seven major currency pairs are included here, and an additional 48 forex trading pairings. EagleFX offers 31 crypto choices in the crypto markets, including fiat-to-fiat and crypto-to-fiat trading pairs.
Also the commodities market also includes 11 equities indices, six spot metals, and three energy products. Only the cryptocurrency market is available 24 hours a day, seven days a week.
To price CFD and FX spreads, EagleFX employs a very complex method through the live spread feature. The live spread area is updated every 10 seconds to keep things fresh.
When the market is quiet, traders may take advantage of lower spreads by trading with variable live spreads.
On the other hand, minor spikes in volatility frequently result in wide spreads.
Most online brokers have different minimum deposit requirements for other trading accounts. With just one trading account, the $10 minimum deposit applies to all EagleFX’s users in the United States and Canada.
In terms of the full account operating balance, the broker is ambiguous. It’s also worth noting that all deposits are stored in the vault before being moved to the trading section to collateralize your trading positions.
Deposit Methods & Fees
EagleFX accepts three types of deposits. You can deposit funds via bank wire or bank transfer, Visa/MasterCard, or Bitcoin.
The broker extends the zero-fee deposit policy by agreeing to cover the transaction fees incurred as a result of your funding method of choice.
Account & Fund Security
EagleFX, as previously said, offers the security feature of two-factor authentication, which is instantaneously triggered upon request.
On the other hand, the broker’s security measures extend well beyond the login page and into handling your deposited cash.
For example, EagleFX promises its cryptocurrency traders that their assets are kept in cold storage. Only limited amounts of these coins, intended to assist quick withdrawals, are kept on the broker’s servers.
The company goes on to say that partnering with the world’s premier payment processors ensures quick deposits and withdrawals.
It also uses the safeguards they’ve put in place to protect deposits and withdrawals.
A demo account with EagleFX is also available for traders new to the platform or to online trading in general. The free account contains all the trading tools and data featured in the Live Trading account, making virtual trading with EagleFX a zero risk.
This platform outperforms most of the demo accounts provided by competitors in a slew of ways. Regarding demo accounts, Eagle FX does not impose a time restriction on their usage.
In addition, unlike most brokerages, Eagle FX allows you to choose the virtual fund balance with which to begin.
You may even replenish these virtual funds as often as you like. EagleFX trial accounts can be used on the free Windows MT4 platform, mobile MT4 traders for Android or iOS, or the Web Trader.
Furthermore, you can set the base currency for your trades to USD, EUR, GBP, or BIT.
Demo accounts are very helpful for new traders because they let them practice trading on the Forex market with fictitious money before risking their own money. More experienced traders may also use demo accounts to improve their trading strategy. A real-live trading account may be opened when you’re ready.
Is EagleFX A Regulated Broker?
EagleFX is not a regulated broker. This means that any authorities do not regulate EagleFX. Traders should be aware that unregulated companies typically do not offer much, if any, client protection.
What Type Of Broker Is EagleFX?
EagleFX is a Forex and cryptocurrency STP broker that offers trading CFDs on hundreds of assets and optimal trading conditions on the MT4 platform. There are no slippages, requotes, or price fluctuations with STP trading since there are no middlemen between the trader and the liquidity provider.
How Do I Withdraw From EagleFX?
The online broker offers three basic withdrawal options. You can have your withdrawals done in bitcoins, PayPal dollars via Coinbase, or to your prepaid MasterCard.
Withdrawals, like deposits, are completely free of charge. Eagle FX is also one of the few online brokerages that guarantee withdrawn balances will be credited to your account within the same day.
Which Is The Most Reliable Forex Broker?
Here’s a list of the finest FX brokers for new traders.
- Plus500 – Overall winner in terms of beginner friendliness and ease of usage
- IG – Excellent education, most dependable
- eToro – The most effective trading site for copy trading
- AvaTrade – High-quality educational materials
- CMC Markets – Best web trading platform, outstanding education
- XTB – Excellent customer service than other brokers
- OANDA – High-quality research and an easy-to-use platform
What Is The Minimum Deposit For EagleFX?
EagleFX offers a single standard account type to all clients, with a $10 minimum deposit requirement. The smallest lot size is 0.01, and the largest trade size is 1,000 lots.
Can You Make Money With EagleFX?
Yes, you can, and by using your own trading strategies!
There’s a lot that comes along with forex trading that many people struggle with.
Now, don’t get the wrong idea…
It’s not impossible to make money with forex trading, but if you’re gonna put in the amount of grueling work to do this business (which, trust me, isn’t easy), you might as well bring in some REAL money while you’re learning the ropes.
The program that helped skyrocket many online businesses to over $40,000+ per month is so simple that making money really does become second nature.
Is EagleFX Legit?
Although EagleFX is not regulated, it’s hard to say that it is a scam since it provides real trading services.
But, when it comes to building a business, you have plenty of options.
And even if you’re dead set on becoming a forex trader, you’ve got way better options than EagleFX.
Keep in mind, I don’t get paid to promote any of the programs I review. I personally think forex trading is a great business model, but you could end up leaving way too much money on the table.
Alternatives To EagleFX?
Yes, there are plenty of other business models to choose from if you want to pursue making money in 2022. Here are just a few:
Is EagleFX A Scam?
Alright, time for the $1,000,000 question: is EagleFX a scam?
No, not technically. You can 100% make money with it, but it’s not NEARLY as simple as EagleFX wants you to think it is.
You need to understand that you are taking a very big risk with financial products.
So while it’s entirely possible that you hit the big leagues and retire to a vineyard… the path to get there is so stressful, it might just shave a decade off your life… IF you even get there.
A friend of mine actually writes advertisements for one of the largest financial program advertisers in the world… so believe me when I say that most of the” awesome” numbers they use in their ads & landing pages are borderline false.
What they conveniently leave out are the dozens of losing bets and trades that came before the big win you’re reading about.
Now, most people don’t have the emotional bandwidth to stick out 3 months of back-to-back losses before (hopefully) getting a big win.
I’d rather use that 3 months of work (in my spare time) building Digital Rental Properties, and then collect a handful of nice little $500-$2,000 checks every single month afterward (AKA passive income).
And the cool part is that you can do it in a lot less time than 3-months (I personally did it in my first 2 weeks of being a Digital Landlord).
You can do it from anywhere in the world, so it’s a genuine “laptop-lifestyle” business.
All you need is a laptop and an internet connection.
Some of my friends are Digital Landlords that run their 6-figure businesses from:
- Camping trips at national parks
- Beachfront in Hawaii
- On the road in a camper van (with a pet pig!)
They focus on living an enjoyable life first, and focus on income second. All thanks to this program.
They can take weeks or months off, and money keeps rolling in.
Living happily is the top priority.
If the thought of living perpetually at your dream vacation spot interests you, being a Digital Landlord might be for you!
What Is My #1 Recommendation For Making Money Online In 2022?
I’ve personally tried all of the major online business models:
- I’ve traded crypto & purchased a bunch of fancy “insider stock tip” newsletters
- I’ve sold fidget spinners through Amazon FBA
- I’ve dropshipped a toilet bowl putting green on Shopify
- I’ve sold women’s health supplements via Clickbank affiliate marketing
And I made money with all of them, so trust me when I say: there is no “perfect” business model.
That being said, my #1 recommendation for making real money online is, hands-down: being a Digital Landlord.
Whether you’re a complete newbie, or you’ve been around the block before but have never had that “big win” to propel you forward, becoming a Digital Landlord is for you.
1)Time: If you’ve got a spare hour or two each day, you can do this. If you want to drop everything and go all-in, you can do this. More time obviously means faster results, but even putting in a few hours per day is enough to see real success.
And because of that flexibility, you don’t need to trade your time for money. Once the income starts, it’s recurring.
That means you can take a month off, travel the country, pursue a passion project, chill on the beach, or charter a boat across the world.
But you can only do that once you’ve created an income stream that doesn’t require YOU to be there all day, every day.
2) You Own & Control EVERYTHING: Nothing is in your control when it comes to the markets. You have zero influence over market-shifting macro-economic trends.
The number of people that have ACTUALLY beat the market consistently can be counted on one hand.
Why pour your soul into a business that you realistically have zero control over?
When you’re a Digital Landlord, you literally own all of the assets, which means you have ultimate control.
3) It’s Effectively Copy-Paste: Here’s my favorite part: once you have your first Digital Rental Property up, you can literally copy-paste another version of it and find another willing “renter” in a few days. DOUBLING your income doesn’t get much easier than that…
If you wanted to double your income in the markets, you would need to make twice as many winning trades or double your profit on each trade. And I can guarantee you that’s a lot harder than a few clicks & a phone call.
4) Make Money Helping Real People: When you make money in the markets, you’re not really helping anyone but yourself. There is a loser on the other end of that trade.
But when you’re a Digital Landlord, you’re helping solve REAL problems that people are ASKING for help with:
Small local businesses around the world need one thing: customers. Without them, their business would fall apart. If you can provide those customers, they’re going to be really happy – and they’re going to pay you for it.
You’re helping a struggling mother or father put food on the table for their families, put their kids through college, or simply live life a little bit more comfortably.
Having this type of impact on the world is what will help you sleep soundly at night.
So, the rest is up to you. You could keep looking at other programs like EagleFX, which might make you money if you luck out.
You could keep researching and researching for the next few months (or few years), never making a concrete decision.
OR, you can look deep inside, think about those dreams, hopes, & desires, and make the decision to ACTUALLY make it happen, just like it has for thousands of other students before you.
Making a fortune while actually helping real people that need it.
If this sounds like you, click here to see how it all works.