ArgusFX Review (2023) – ☑️ Pros and Cons Revealed.

 

 

ARGUSFX offers a wide range of services and products including Forex and CFDs.

 

A Quick Overview of our ArgusFX Review:

 

The brokerage is regulated by CySec and the EU and is MiFID compliant. Argus Stockbrokers Ltd. is a member of the Cyprus Stock Exchange (CSE) and Athens Stock Exchange (ASE).

 

Who is ArgusFX?      

According to research in South Africa ARGUSFX is the registered trading name of Argus Stockbrokers Ltd and is a fully licensed investment services firm founded in 2000 and located in Cyprus.

 

ARGUSFX’s service is not available to United States residents.

 

Safe or Scam

One of the best benchmarks to measure the safety of a broker like ARGUSFX, is to establish which regulating authorities are watchdogs over its actions.

 

ARGUSFX is headquartered in Nicosia, Cyprus and is regulated by the Cyprus Securities and Exchange Commission (CySec) since 2003 and is compliant to the Markets in Financial Instruments Directive (MiFID) regulations in the EU.

 

Argus Stockbrokers Ltd., a Cypriot Investment Firm, is a member of the Cyprus Stock Exchange (CSE) and the Athens Stock Exchange (ASE), giving more confidence in its financial transparency.

 

CySEC is a reputable EU regulator with strict rules and oversight and prescribes that investment firms like ARGUSFX must hold at least €730,000 to prove good financial standing. Customer funds must also be kept in segregated accounts, away from the company’s operating funds.

 

CySEC-regulated companies are members of the Investor Compensation Fund, which may pay compensation up to 20 000 EUR when a company is in default.

 

ARGUSFX provides Negative Balance Protection that covers any negative balances in client accounts.

 

 

Pros and Cons

 

PROS	CONS
1.      Two Trading Accounts	1.      Missing Information from website
2.      MetaTrader 4 Platforms	2.      No Bonuses or Promotions
3.      Demo and Islamic Accounts	3.      No choice of trading platforms
4.      Well-regulated	4.      Comparatively high spreads
5.      Negative Balance Protection

 

Leverage

Leverage is a facility that enables you to get a much larger exposure to the market you are trading than the amount you deposited to open the trade. Leveraged products, such as forex trading, magnify your potential profit – but also increase your potential loss.

 

Leverage amount is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that you have $1,000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate to 500:1.

 

Margin is the amount of collateral to cover any credit risks that may arise during your trading operations. It is expressed as the percentage of position size (e.g. 5% or 1%), and you have to have funds in your trading account to ensure sufficient margin.

 

For example, on a 1% margin, a position of $1,000,000 will require a deposit of $10,000. The margin level in a trading account needs to be equal to or more than 100% to be able to open new trades, otherwise, your trading account will be fully hedged.

 

ARGUSFX offers a maximum leverage ratio of 1:500.

 

Accounts

A forex account at ARGUSFX is a trading account that you will hold and that will work similarly to your bank account, but with the difference that it is primarily issued with the purpose of trading on currencies.

 

Forex Islamic accounts are also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, which is against the Islamic faith.

 

Often, the number and type of accounts that a trader can open with a broker company differ depending on the country in which it operates and the regulatory authorities under whose jurisdiction it falls.

 

ARGUSFX offers the following two types of accounts:

The standard STP/ECN trading account

 

This account is offered to retail and institutional clients and allows traders direct access to deep liquidity and interbank pricing provided by top-tier liquidity providers.

 

A minimum deposit of $200 or its equivalent is required to open and flexible leverage from 1:1 up to 1:500 is offered.

 

Spreads start from as low as 1.7 pips and traders are able to trade micro-lots. There is no commission for the STP/ECN account.

 

The PRO STP/ECN Account

This account requires a minimum deposit of $2 000 or equivalent. The account offers flexible leverage from 1:1 up to 1:20 and spreads starting from as low as 0 pips. Traders can trade micro-lots.

A commission is charged for the PRO account.

 

Market Instruments

The most popular market instruments available from most brokers for trading include:

 

Forex:

Forex trading describes the currency exchange market which refers to the global, decentralized marketplace where individuals, companies, and financial institutions exchange currencies for one another at floating rates.

 

Commodities:

Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and play a major role in portfolio diversification and risk management. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of economic uncertainty.

 

Indices:

Equity, or stock indices, are actual stock market indexes that measure the value of a specific section of a stock market. They can represent a specific stock market or a specific set of the largest companies of a nation.

 

Precious metals:

The trading of gold and other precious metals, along with crude oil, copper or petroleum, are hard commodities that play a major role in the commodities market and are contract-based tradable goods.

 

Energy:

The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions and global economic growth.

 

ARGUSFX offers the following of the above: 50 Forex currency pairs, commodities, indices, CFDs and precious metals.

 

Fees

Cost depends on different factors, like spread and margins, and ARGUSFX clients may also experience different fee structures according to their country or place of residence.

 

The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move.

 

Margin is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your trading account.

 

ARGUSFX offers variable spreads, the typical ones for the EUR/USD pair being around 1.8 pips on the commission-free account.  Trading costs on the Pro STP account entails a spread of 0.3 pips and a commission of $15 per round lot.

 

Discounts on commission fees are available to clients who deposit more than $2 000.

 

ARGUSFX transaction fees also depend on the payment method you use. Relevant rates apply in the case of currency conversions.

 

Deposit and Withdrawal

Accounts usually require a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be done in the same ways, but sometimes differ.

 

A minimum deposit of $200 or its equivalent is required to open the STP/ECN account and a minimum deposit of $2 000 or equivalent for the PRO account.

 

In the case of ARGUSFX the following methods can be used to fund accounts and make withdrawals:

 

Credit/debit cards, bank wire transfer, and e-wallet payment systems Skrill, Neteller, Qiwi, Sofort, China UnionPay, Yandex Money, WebMoney. Clients can deposit funds in three base currencies, USD, EUR and PLN.

 

Withdrawals are made using the same methods and usually take one to two days, depending on the method used. ARGUSFX does not charge any fees for deposits or withdrawals.

 

 

Trading platforms

The forex trading platform provided by ARGUSFX to its clients is in essence the software to carry out their trades. Some brokers provide only one, others quite a few platforms.

 

A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.

 

ARGUSFX provides the standard forex market trading platform MetaTrader4 (MT4).  MT4 is internationally acclaimed and offers a full range of trading tools and features, like a user-friendly interface, a number of built-in technical indicators, an advanced charting package, a wide range of Expert Advisors (EAs) and extensive back-testing options.

 

Traders can download ready-made or create their own EAs and let the program do the work.

 

How to open an account

Similar to a bank, to register a forex trading account with ARGUSFX for the first time, you will be required to go through a basic “know your customer” process, which will allow ARGUSFX to ascertain that your submitted details and ensure the safety of your funds and account details.

 

With ARGUSFX the process entails completing a three-step registration process on the website and uploading the required validating documents.

 

Customer Support

Potential traders need to make sure the broker company they chose will offer sufficient support whenever they need it.

 

In the case of ARGUSFX customers can reach the support team via live chat for multilingual support.

 

Education

Before starting to trade, potential clients of ARGUSFX should avail themselves of all possible information and trading skills needed to be successful in the world of forex and commodity trading.

 

Educational material includes webinars, weekly market reports, market news, technical analysis, and a blog.

 

ARGUSFX offers several educational features for traders that subscribe to the ARGUSFX mailing list.  Traders can access live monitoring of financial instruments and online news.

 

General market news is posted in detail on a daily-intraday page and there is a full economic calendar with events taking place across the globe.

 

Research

To be able to trade with confidence, traders should do as much as possible research about this kind of speculative trading before commencing, but also preceding every daring deal to ensure that they don’t lose money unnecessarily and trade as profitable as possible.

 

With ARGUSFX they have access to leading market news, technical and fundamental analysis together with in-house developed analytical tools.

 

A glossary of financial terms, online seminars, and a FAQ page gives more information.

 

Awards

Being an awarded company instills extra confidence by traders.  Although ARGUSFX is acclaimed by customers, there is no indication of awards won on its homepage.

 

You might also like: ArgusFX Account Types Overview

You might also like: ArgusFX Demo Account

You might also like: ArgusFX Fees and Spreads

You might also like: ArgusFX Islamic Account Overview

You might also like: ArgusFX Minimum Deposit

You might also like: ArgusFX Sign up Bonus

 

Conclusion

ARGUSFX can be described as a reliable STP broker that offers online trading in more than 50 currency pairs, as well as various CFDs and precious metals through the MT4 platform. Its spreads is above average, but it provides negative balance protection, so customers may not lose more than what they had deposited.

 

 

Disclaimer

ARGUSFX warns potential customers that Forex and CFDs trading always carries a high risk and may not be suitable for all investors.

 

Before deciding to trade with ARGUSFX, potential traders are advised to carefully consider their investment objectives, financial situation, needs and level of experience before investing money they cannot afford to lose.

 

ARGUSFX warns that margin trading involves the potential for profit as well as the risk of loss and that movements in the price of foreign exchange and commodities are very unpredictable, hence ARGUSFX cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.

 

FAQs

TRADING ENVIRONMENT

1. How many instruments can I trade with ARGUSFX?

You can trade several different instruments with ARGUSFX, which include the following:

• Stocks,
• Futures,
• Forex,
• Spot Metals,
• CFDs.

 

2. Which platforms are supported by ARGUSFX?

ARGUSFX provides the following popular trading platforms:

 

3. Does ARGUSFX offer leverage?

Yes, ARGUSFX offers a maximum leverage of 1: 500

 

4. What spreads can I expect with ARGUSFX?

ARGUSFX offers Average spread: 1.8 pips (standard account), 0.8 pips (Pro account)

If details on the website is not comprehensive, more information can be obtained from the customer support service.

 

5. Does ARGUSFX charge commission?

No, more information on commissions can be obtained from the customer support service.

 

6. Is ARGUSFX regulated?

Yes, ARGUSFX is regulated by CySEC, MiFID.

 

7. Is ARGUSFX a recommended forex trading broker for experts and beginners?

ARGUSFX offers a fair-trading environment for all types of traders.

 

8. What is the overall rating out of 10 for ARGUSFX?

7/10

 

ACCOUNTS

1. What is the difference between a demo and a live trading account?

A demo account is offered by broker companies and funded with virtual money that enables a prospective customer to experiment with the company’s trading platforms and its features, before setting up a real account funded with the customers actual money.

 

Does ARGUSFX offer a demo account?

Yes

 

2. How long is the demo account valid?

The demo account can be used alongside trading.

 

3. Which live trading accounts does ARGUSFX offer?

• Standard STP/ECN
• PRO STP/ECN
• Islamic Account

 

4. What are the available deposit currencies for a live trading account?

USD, EUR, GBP, PLN

 

DEPOSITS AND WITHDRAWALS

1. What is the minimum deposit for ARGUSFX?

$ 200

 

2. How do you make a deposit and withdrawal with ARGUSFX?

ARGUSFX offers the following deposit methods:

• Visa and Master Card,
• Bank wire,
• Yandex Money,
• UnionPay
• Skrill,
• Neteller,
• Qiwi,

 

Withdrawals can be done via:

• Visa and Master Card,
• Bank wire,
• Yandex Money,
• Skrill,
• Neteller,
• Qiwi

 

3. Does ARGUSFX charge withdrawal fees?

No, but fees from financial institutions may apply.

 

4. How long does it take to make a withdrawal?

Withdrawals usually takes one to two days but depending on bank services it may take several days for the money to be available.

 

ARGUSFX AT A GLANCE
Broker’s Name	ARGUSFX
Headquartered	Nicosia, Cyprus
Year Founded	2000
Regulating Authorities	CySEC, MiFID
Countries not accepted for trade	United States, Iran, Cuba, Sudan, Syria, North Korea, Belgium, Canada and Japan
Islamic Account (Swap Free)	Yes
Demo Account	Yes
Institutional Accounts	Yes
Managed Accounts	Yes
Maximum Leverage	1:500
Minimum Deposit	$200
Deposit Options	Visa and Master Card, Bank wire, Yandex Money, Skrill, Neteller, Qiwi, Sofort.
Withdrawal Options	Visa and Master Card, Bank wire, Yandex Money, Skrill, Neteller, Qiwi, Sofort.
Platform Types	MT4
OS Compatibility	Mobile, Web, iPhone, iPad, Android
Tradable Assets	Stocks, Futures, Forex, Spot Metals, CFDs
Languages supported on Website	Multiple languages including English, Arabic, Greek, German
Customer Support Languages	Multiple languages
Customer Service Hours	24 hours per day, five days per week