EagleFX
Published: Updated:
- Trust score
- 2/10
- Legal simplicity
- 2/10
- Min. deposit
- 10
- Trading platforms
- Payment systems
- Instruments
- Forex, Metals, Indices, Energies, Stocks, Cryptocurrencies
- Legal entity
- EagleFX Ltd
- Jurisdiction
- Dominica
- Fees
- Pricing is raw spread with a per-lot commission. Overnight swaps apply, and swap-free accounts are available on request.
- Withdrawals
- Withdrawals return to the funding method and are normally processed within one business day, with cryptocurrency payouts arriving fastest.
Features
- Low $10 minimum deposit
- ECN-style trading accounts
- Scalping allowed
- Affiliate program available
- Wide range of tradable instruments
Pros
- No notable advantages identified.
EagleFX rebranded to Trade Forex in 2024 and runs from Dominica without regulation from any financial authority. It offers a single STP/ECN account on MetaTrader 4, a $10 minimum deposit, leverage up to 1:500 on forex and 1:100 on crypto CFDs, and a flat $6-per-lot commission. Tradable assets include currency pairs, stocks, indices, metals, and cryptocurrency CFDs, funded via Bitcoin, bank transfer, or card through Instacoins.
EagleFX, now operating as Trade Forex, is an unregulated MT4 broker with a $10 minimum deposit, ECN-style accounts, and support for scalping.
Overview
EagleFX rebranded to Trade Forex in 2024. The company is based in Dominica and remains unregulated, meaning no financial authority licenses or supervises it. It runs a single STP/ECN-style account with a $10 minimum deposit and offers the MetaTrader 4 (MT4) platform.
Regulation and Safety
Trade Forex operates without oversight from any regulator. That gives it room to offer high leverage and a low deposit threshold, but it also means traders have no regulatory body to appeal to if a dispute arises. The broker does not state whether client funds are held in segregated accounts.
Trading Conditions
Leverage runs up to 1:500 on major currency pairs and up to 1:100 on cryptocurrency CFDs. The broker charges a flat commission of $6 per lot on every trade, on top of spreads starting around 1.2 pips on EUR/USD. Scalping and automated trading (Expert Advisors) are both permitted.
Instruments and Platform
Trade Forex lists currency pairs, more than 60 stocks, stock indices, precious metals, energy commodities, and cryptocurrency CFDs. Crypto liquidity comes from Bitfinex; the liquidity providers behind forex and other CFDs are not disclosed. MT4 is the only platform offered, available on desktop, web, and mobile.
Account Features
There is no Islamic (swap-free) account, PAMM account, social trading, trading signals, VPS hosting, deposit bonus, or trading contest. A partner (affiliate) program is available, there is no inactivity fee, and support runs 24/5.
Deposits and Withdrawals
Funding methods include Bitcoin (BTC), bank transfer, and Visa/MasterCard via the Instacoins processor. The minimum deposit is $10 for BTC and $50 for card or bank transfers through Instacoins. A withdrawal fee is not specified.
Bottom Line
Trade Forex, formerly EagleFX, is a crypto-friendly, high-leverage broker with a very low entry deposit, but it carries the risks of an unregulated operator: no independent oversight, unconfirmed fund segregation, and undisclosed forex/CFD liquidity providers. Weigh these gaps carefully before depositing.
Trading conditions
EagleFX offers raw-spread pricing with commission on MetaTrader 4, with very high leverage, crypto-first funding and no restrictions on trading style.
Hedging, scalping and Expert Advisors are permitted.
Crypto-first funding removes the chargeback route and the payment processor that would otherwise sit between a client and the broker. Combined with an unsupervised jurisdiction, that leaves the firm's own conduct as the only thing standing behind a withdrawal request.
Verification
Verification requires photo ID and a proof of address, normally reviewed within one business day and required before the first withdrawal.
The operating entity is registered in Dominica, which has no forex licensing or supervisory regime. There is no leverage cap, no conduct rulebook, no complaints mechanism and no compensation scheme. A dispute has nowhere to escalate to, and a crypto deposit has no reversal route.
