Compare FreshForex vs EagleFX
What is FreshForex? What is EagleFX ?
FreshForex is a brand that provides access to online trading for clients from more than 200 countries all over the world. The company offers trading on Forex, CFDs, metals, indices, stocks and cryptocurrencies on the MetaTrader 4 platform. FreshForex has been operating since 2004 and is regulated by the Financial Services Authority of St. Vincent and the Grenadines.
EagleFX is an online Forex and cryptocurrency STP broker providing CFD trading on hundreds of assets and optimal trading conditions within the award-winning MT4 platform. EagleFX offers deep liquidity, generous leverage up to 1:500, and some of the best spreads in the industry. EagleFX was established in 2019 and is not regulated by any authority.
FreshForex vs EagleFX Regulation Comparison
FreshForex is regulated by the Financial Services Authority of St. Vincent and the Grenadines under license number 20623 IBC 2012. This means that the broker has to comply with certain rules and standards regarding client funds protection, anti-money laundering, dispute resolution and risk management.
However, this regulator is not considered to be very reputable or strict in the industry, and does not offer any compensation scheme or investor protection in case of broker insolvency or misconduct. EagleFX is not regulated by any authority and does not provide any information about its legal status, registration or location on its website. This means that the broker operates without any oversight or accountability, and clients have no recourse or guarantee in case of any issues or disputes with the broker. Trading with an unregulated broker carries a high level of risk and is not recommended.
FreshForex vs EagleFX Trading Assets Comparison
FreshForex offers trading on over 130 instruments across different categories, including Forex (49 currency pairs), CFDs (11 metals, 3 energies, 11 indices, 60 stocks), and cryptocurrencies (6 pairs). The broker also offers swap-free accounts for Islamic traders and ECN accounts for professional traders. EagleFX offers trading on over 100 instruments across different categories, including Forex (53 currency pairs), CFDs (11 metals, 3 energies, 13 indices), and cryptocurrencies (31 pairs). The broker also offers swap-free accounts for Islamic traders and STP execution for all traders.
FreshForex vs EagleFX Trading Fees Comparison
FreshForex charges variable spreads and commissions depending on the account type and instrument traded. The broker offers three account types: Classic, Market Pro and ECN. The Classic account has no commission but higher spreads, starting from 2 pips on major currency pairs. The Market Pro account has lower spreads, starting from 0.9 pips on majors, but charges a commission of $6 per lot round turn. The ECN account has the lowest spreads, starting from 0 pips on majors, but charges a commission of $3 per lot round turn. The broker also charges swap fees for holding positions overnight, unless the trader has a swap-free account. EagleFX charges variable spreads and commissions depending on the instrument traded. The broker does not have different account types, but offers STP execution for all traders. The spreads start from 0.1 pips on major currency pairs, but vary depending on market conditions and liquidity. The broker also charges a commission of $6 per lot round turn on all instruments except cryptocurrencies, which have no commission. The broker also charges swap fees for holding positions overnight, unless the trader has a swap-free account.
FreshForex vs EagleFX Account Types Comparison
FreshForex offers three account types: Classic, Market Pro and ECN. The Classic account is suitable for beginners who want to trade with fixed spreads and no commission. The Market Pro account is suitable for experienced traders who want to trade with floating spreads and low commission. The ECN account is suitable for professional traders who want to trade with tight spreads and market execution. All account types have a minimum deposit requirement of $10 and a maximum leverage of 1:2000.
EagleFX does not offer different account types, but provides STP execution for all traders. The broker has a minimum deposit requirement of $10 and a maximum leverage of 1:500.
FreshForex vs EagleFX Deposit Options Comparison
FreshForex offers various deposit and withdrawal options for its clients, including bank wire transfer, credit/debit cards (Visa, Mastercard), e-wallets (Neteller, Skrill, WebMoney, Perfect Money, FasaPay, ADVCash), cryptocurrencies (Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Tether) and local payment methods (Qiwi, Yandex Money, M-Pesa). The broker does not charge any deposit or withdrawal fees, except for bank wire transfer which may incur some charges from the banks. The processing time for deposits is instant for most methods, except for bank wire transfer which may take up to 5 business days. The processing time for withdrawals is up to 10 minutes for e-wallets and cryptocurrencies, and up to 5 business days for bank wire transfer and credit/debit cards.
EagleFX offers only two deposit and withdrawal options for its clients: Bitcoin and credit/debit cards (Visa, Mastercard). The broker does not charge any deposit or withdrawal fees, but there may be some network fees for Bitcoin transactions. The processing time for deposits is instant for both methods. The processing time for withdrawals is up to 30 minutes for Bitcoin and up to 2 business days for credit/debit cards.
FreshForex vs EagleFX Trading Platforms Comparison
FreshForex and EagleFX both use the MetaTrader 4 platform as their main trading platform. MT4 is a popular and user-friendly platform that offers a range of features and tools for traders of all levels. Some of the features include multiple chart types and timeframes, technical indicators and graphical objects, market and pending orders, one-click trading, automated trading with expert advisors, custom indicators and scripts, backtesting and optimization capabilities, news and alerts, and more.
Both brokers also offer MT4 WebTrader, which is a web-based version of the platform that can be accessed from any browser without downloading or installing any software. Additionally, FreshForex offers MT4 Android, which is a mobile version of the platform that can be downloaded from the Google Play Store and used on Android devices. EagleFX does not offer MT4 Android or MT4 iOS at the moment.
FreshForex vs EagleFX Analytical Tools Comparison
FreshForex provides various analytical tools and resources for its clients to enhance their trading experience and performance. Some of these tools include:
- Fresh Forecast: A daily market analysis service that provides forecasts and recommendations from professional analysts.
- Forex Encyclopedia: A comprehensive online guide that covers various topics related to Forex trading, such as terminology, strategies, indicators, platforms, etc.
- Trading Signals: A service that provides real-time signals from experienced traders based on technical and fundamental analysis.
- Economic Calendar: A tool that displays the upcoming economic events and indicators that may affect the market movements.
- Forex News: A section that provides the latest news and updates from the financial markets.
- Trader’s Calculator: A tool that helps traders calculate the margin, profit, swap and pip value of their trades.
- Currency Converter: A tool that helps traders convert between different currencies at the current exchange rates.
EagleFX does not provide any analytical tools or resources on its website, except for an economic calendar that shows the upcoming economic events and indicators. However, traders can use the built-in tools and features of the MT4 platform to conduct their own analysis and research.
FreshForex vs EagleFX . Which forex broker is better? Which forex broker should you choose?
Choosing the right broker depends on your personal preferences, trading goals, risk appetite and level of experience. However, you can compare some of the advantages and disadvantages of each broker and make an informed decision. Here are some points to consider:
- FreshForex is regulated by a low-tier authority, while EagleFX is not regulated at all. This means that trading with FreshForex may offer some level of security and protection, while trading with EagleFX may expose you to higher risks and uncertainties.
- FreshForex offers more trading instruments, deposit and withdrawal options, and analytical tools than EagleFX. This means that trading with FreshForex may offer more diversity, convenience and support than trading with EagleFX.
- FreshForex and EagleFX both use the MT4 platform, which is a reliable and popular platform among traders. However, FreshForex also offers MT4 Android, which may be useful for mobile traders, while EagleFX does not offer any mobile version of the platform at the moment.
- FreshForex and EagleFX both offer competitive spreads and commissions, low minimum deposits and high leverage. However, the exact fees and conditions may vary depending on the account type, instrument and market situation. Therefore, you should always check the current rates and terms before opening a trade.
