Atirox Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this Atirox Review.
Atirox Review
Forex broker Atirox offers the above account types, plus PAMM and copy trading service. The Micro & Classic accounts are commission-free and provide fixed spreads, while trading on the Pro account involves commission, but floating spreads are significantly lower.
In addition, this broker provides swap-free accounts for investors of Islamic belief.
Atirox Advantages
MetaTrader 4 available
This broker offers its services on the MetaTrader 4 (MT4), which is still the most widely used forex trading platform. This is due to its top-notch charting, a plethora of automated strategies (EAs), numerous technical analysis indicators, customization options, etc.
High leverage levels
Atirox offers high leverage levels reaching 1:1000, which are one of the highest in the industry. This permits its clients to trade with positions that are 1000 times larger than the money in their account – a nice, but also a risky option that is certainly not for every trader.
Low initial deposits
You can open an account with Atirox by investing a single buck, which is quite attractive.
Diversified product portfolio
Atirox offers wide range of financial instruments for trade: numerous forex pairs, and various CFDs: on indices, commodities, stocks, as well as 9 crypto trading pairs. Trading in Bitcoin and other cryptocurrenies is very trendy lately and many forex brokers have added them to their offering. If you would rather trade in BTC with a tightly regulated broker.
Promotions available
There are several promotions running at Atirox: 30% tradable bonus for clients who deposit at least $200; on-deposit bonus up to 100%, as well as some trading contests.
Atirox Disadvantages
Registered offshore
This broker is allegedly operated by ATIROX INC., an offshore company, registered in Saint Vincent and the Grenadines. Offshore brokers are generally not to be trusted and we do not recommend doing business with such.
Wide spreads
A fixed spread of 3 pips on EUR/USD is two times higher than what most brokers are currently offering. By comparison, you can trade with a spread fixed at 1 pips with CySEC-regulated broker easyMarkets.
MT4 provided by another broker
When we downloaded Atirox’s platform to test it, we saw it is provided by another forex broker, Atiora. It is also registered offshore and we find the offerings of the two brokers (as well as their brands) very similar. That is why we suspect that Atirox belongs to the Atiora group of companies.
Atirox is an unregulated forex broker that uses the MetaTrader 4 platform. There are some elements of this broker’s offering that seem attractive, such as the platform, the high leverage levels provided and the extensive product portfolio.
On the downside, its spreads are actually too high, but what bothers us most with regards to Atirox is the fact that it is not properly regulated and has not shared any information about the company that operates the brand on its website. It is registered offshore, but provides contact numbers with Slovakia’s country code (+421). Besides, it seems that Atirox belongs to the
Atiora group of companies, all of which are registered offshore.
Many of these brokers are scams. Even if they are not, clients of offshore brokers basically have no protection in case something goes wrong – none of these companies is obliged to arrange a compensation scheme in the event of insolvency, for example. By comparison, all brokers licensed in the UK are a part of the Financial Services Compensation Scheme (FSCS) and if one of them becomes insolvent, the FSCS can offer their clients protection up to £50,000 per person.
Instead of the cryptocurrency broker you can use Plus500, XM, eToro, Fxpro or AvaTrade crypto currency brokers.
Atirox Review Conclusion
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