EagleFX Pro – Are They Trustworthy

Website URL: https://eaglefxpro.online

Founded: 2022

Regulations: Not Regulated

Languages: English

Deposit Methods: Bitcoin, Ethereum, Tether, Dash

Minimum Deposit: $1000

Free Demo Account: No

Number of Assets: Unspecified

Types of Assets: Cryptocurrencies, Currencies, Gold, Oil, Commodities

Trading Accounts and Conditions

EagleFX Pro does not offer their clients trading accounts; clients are instead offered investment plans. Here are some of the investment plans:

• Rookie Plan: The minimum investment is $1000 and the maximum investment is $4,999. The plan has a duration of 8 weeks and you are promised an ROI (Return on Investment) of 25% weekly.
• Veteran’s Plan: The deposit range is from $5,000 to $9,999. The plan lasts for 12 weeks and you are promised a 30% weekly ROI.
• Master Plan: The deposit range for this plan is from $10,000 to $49,999. The plan lasts for 16 weeks and you are promised a weekly ROI of 25%.

There is no mention of key trading conditions such as spreads and leverages. We did manage to log into this broker’s trading platform and get part of this information for ourselves. We found out that the spreads for the EURUSD start from 1.2 pips. And we also found out that the maximum leverage ratio this broker offers is 1:500.

EagleFX Pro – Advantages

There are no advantages to trading with EagleFX Pro.

EagleFX Pro – Disadvantages

Listed below are all the details that tell us that we are dealing with a scammer with EagleFX Pro:

• Unregulated, Blacklisted by FCA

The first thing that tells us that we are dealing with a scammer is the fact that EagleFX Pro is not a regulated broker. This broker lists a London, UK address as its registered address. However, the phone number provided has a US country code, and there is a generic email address.

A broker based in the UK has to be regulated by the FCA – the local regulatory authority. The FCA, or the Financial Conduct Authority, has a online register where it is a simple matter to check and see if a broker is actually regulated by them.

So, it was simple to see if this broker’s claim of being based in the UK is real or not. It, if course, is not. This broker is not listed on the FCA’s register. Furthermore, the FCA has actually issued a public warning against this broker, stating that they are operating in their jurisdiction without the required authorization.

Being blacklisted by a respected authority such as the FCA is a clear indication of this broker’s dishonesty.

Plus500

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• Serial Scammer

We also need to point out that this broker is not only blacklisted by one of the top financial regulators in the world, but that EagleFX Pro is actually a serial scammer.

We have previously reviewed this broker – when it used two other domain names (this broker previously used the domain name www.eaglefx.com). The layout of their website has also been altered to make it look like a different broker, but that has not fooled us.

• Lies About Trading Software

EagleFX Pro claims to offer their clients the MetaTrader 5, the MetaTrader 5 and the CTrader trading platforms. Had this been true, it would be a huge advantage for the broker – these are the top platforms in the industry today.

However, these claims are just more lies perpetrated by this broker in a bid to win more customers.

The truth of the matter is that this broker actually only offers a simplistic trading platform, one that is developed by TradingView. With this platform, you cannot do much more than buy and sell a few assets. There are no tools and add-ons to help make trading easier.

And when you compare this poorly designed trading platform to the MT5 that EagleFX Pro claims to offer, you will see how vast the difference in quality actually is.

This, of course, is typically what scammers do. They lie about the trading platform they offer. And the platform that they do offer is usually rigged to make it look like you are trading – but the platform actually doesn’t work!

• Issues with Trading Conditions

The first red flag is the lack of trading accounts. You get investment plans, which is not what real brokers actually offer. And as for the actual trading conditions, they are so poor that we can immediately tell that we are dealing with a scammer.

The minimum deposit of $1,000 is much too high. The industry standard range of $100 to $250 is far below what this broker offers. Added to this, the trend is that there are many regulated brokers entering the market that allow you to open accounts with them for less than $50.

While the spreads at 1.2 pips look good on their trading platform, there is no mention of fees and commissions, so we don’t really know the real cost of trading with EagleFX Pro.

And their leverage ratio is a dead giveaway of their scam. In the UK, any leverage above 1:30 is illegal. So, a leverage of 1:500 that this broker offers is completely illegal.

All these details tell us we are dealing with a scammer here.

• Returns Promised

This broker promises you that you will make a profit with them. This is a blatant lie. There is no broker on earth that can make this promise. The nature of the market is such that losses are much high than gains. In fact, statistics show that 75% to 85% of trades end in losses. So, such guarantees are simply hooks to get novices to invest with scammers.

• Crypto Payment Option

EagleFX Pro claims to offer two types of payment methods – Visa and MasterCard. However, when we checked their payments section, we found out that the only way to make payments is via cryptocurrencies – Bitcoin, Ethereum, Tether and Dash.

This is a favorite with scammers, since crypto payments are all anonymous and irreversible. 

Conclusion

EagleFX Pro is a serial scammer. It would be best to stay away from them completely.

EagleFX Pro

2.4

User Experience

2.0/10

Payment Options

2.0/10

Security

2.8/10

Support

2.6/10

Reputation

2.6/10

Pros

• None

Cons

• Unregulated, Blacklisted by FCA
• Serial Scammer
• Lies About Trading Software
• Issues with Trading Conditions
• Returns Promised