EagleFX

EagleFX is an online forex and cryptocurrency STP broker incorporated in Dominica on August 15, 2019. It operates from its registered address at 8 Copthall, Roseau Valley 00152, The Commonwealth of Dominica. The broker offers investors CFDs on a wide range of assets, including currencies, indices, and digital assets.

According to our records, EagleFX presents itself as a broker providing deep liquidity, up to 1:500 trading leverage, and competitive spreads. However, the broker is not currently subject to any active regulation, which is a significant factor for traders to consider.

EagleFX is not regulated by any financial authority. Our records show no regulatory licences or oversight from any known regulator. This lack of regulation means that traders do not have access to typical investor protection schemes, such as compensation funds or dispute resolution services offered by regulated brokers.

The absence of regulation is a critical risk factor. Traders should be aware that trading with an unregulated broker carries heightened counterparty risk, as there is no external oversight to ensure fair practices or the safety of client funds.

EagleFX offers a single account type, also named EagleFX, with a minimum deposit of $10 and a maximum leverage of 1:500. This low entry barrier and high leverage may appeal to retail traders looking for significant exposure with a small capital outlay.

The broker provides access to 55 currency pairs, 10 indices, and 33 digital assets (likely cryptocurrencies). The trading environment is described as STP (Straight Through Processing), which typically means orders are passed directly to liquidity providers without dealing desk intervention.

FXCanary has assigned EagleFX a Scam Risk Score of 46 out of 100, categorised as 'Guarded'. This score reflects the broker's lack of regulation and limited publicly available information. While no specific scam allegations have been confirmed, the absence of regulatory oversight places it in a higher risk category for potential traders.

Traders are urged to conduct thorough due diligence before considering any engagement with EagleFX. Our guarded rating indicates that while the broker may not be an outright scam, the risks associated with unregulated trading are substantial.

EagleFX was founded in 2019 and is registered in Dominica, a jurisdiction known for its minimal financial regulation. The company's description highlights its STP model and deep liquidity, but concrete details about its ownership, management team, and financial standing are sparse.

The broker's official website, eaglefx.com, currently redirects to a page for 'Hugo's Way', which appears to be a different service. This raises questions about the continuity of the EagleFX brand and the reliability of the broker's online presence. Independent verification of the broker's claims is difficult due to this discrepancy.

EagleFX claims to offer a wide range of trading instruments, including forex pairs, indices, and digital assets. The specific platforms supported (such as MetaTrader 4/5 or proprietary software) are not confirmed from our known facts, so traders would need to consult the broker directly for platform details.

The inclusion of digital assets suggests the broker also caters to cryptocurrency traders, offering CFDs on various coins. The total of 33 digital assets is relatively high compared to some brokers, indicating a focus on the crypto market alongside traditional forex.

EagleFX appears to target retail traders who are comfortable with high leverage and low initial deposits. The unregulated status and high leverage (1:500) may attract speculative traders seeking aggressive positions.

However, the broker is not suitable for risk-averse traders or those requiring regulatory protection. The lack of oversight and limited transparency make it a high-risk choice. Traders should only consider EagleFX if they fully understand the risks involved in trading with an unregulated entity.