Atom8 Review For Investors With A Larger Trading Capital
Atom8 is a no-nonsense Forex broker that aims to simplify the concept of Forex trading by offering an ECN account as the standard for all of its traders. Atom8 is not designed for small traders, scalpers, or high-frequency traders, especially due to the stringent trading conditions imposed by the broker on its clients. Atom8 was launched in 2013 by an ex- JP Morgan lawyer, whose sole intention was to capture the essence of the retail FX trading market by offering a trading product that is meant to provide an environment that is best suited to FX trading. Atom8 became popular for creating a trading product that allows traders to invest in the FX markets the way it was meant to be traded. Atom8 does not promise any extravagant claims; neither does it pretend to be anything that it is not. The broker concentrates on acquiring a stable set of clients that will continue to trade with them, regardless of the attractions in the market from competing dealers. Due to the honest and transparent nature of the brokerage account, Atom8 is confident of being able to establish a trusted presence in the market, and we try to dissect the services of the company through this Atom8 Forex review.
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Platform for trading Forex, analysing financial markets and using expert advisors.
Multi-asset platform for trading Forex and CFDs.
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Atom8 clients have two different choices for opening an account, the Commission-Free ECN account, and the Raw Spreads + Commission ECN account. Both Atom8 accounts are available for traders after depositing a minimum trading capital of £5,000 (or its equivalent in US dollars or Euros), and both accounts have more or less similar conditions. The only significant difference between the two accounts is the difference in cost of trading. The commission-free ECN account does not charge any commission from traders, and the profit for the broker is included in the markup spread that starts from 0.6 pips for the major currency pairs. The Raw Spreads + Commission ECN account provides tighter spreads for currencies starting from 0.25 pips at the expense of a commission of $1.5 per 100K traded. The minimum lot size for both accounts is 0.1 lots, which provides access to 52 different currency pairs and precious metals such as Gold and silver. Atom8 spreads are considered to be highly competitive than rival ECN platforms, and the broker does offer better trading costs as promised. Traders can trade with a maximum Atom8 leverage of 1:200, but the company prefers to provide a maximum leverage of 1:100 during most market hours, which reduces to a maximum of 1:30 during weekends. Therefore, traders should be extremely careful while using high margin for trades that kept open through the weekends. Changes in margin requirements may induce margin calls, especially if traders use high leverage for opening substantial positions in the market. Raw spreads are also known to increase during the weekends, which may also lead to significant losses due to the changes in margin requirements. In its defense, the broker is merely trying to coerce its traders into using lower leverage to become more responsible with their investments and to hold themselves accountable for their trading decisions. Traders from the UK can also consider switching to spread betting, which is an alternative to Forex trading and enjoy the tax-free benefits of profits generated through spread betting. Atom8 is one of the very few spread betting brokers in the UK that offer raw and highly competitive market spreads for their spread betting accounts, which significantly increases the potential for profits while controlling the costs of trading. All profits generated from spread betting is exempt from tax, as well as stamp duty, which has managed to make spread betting hugely popular among investors in the UK.
How About Atom8 Regulation?
Atom8 is a UK-based Forex broker and hence, Atom8 is regulated by Financial Conduct Authority (FCA). Atom8 follows all the regulatory protocols enforced by the FCA on broker regulation, which includes holding a minimum of $1 million in operating capital, holding trader funds in segregated accounts, protection of client funds under the Financial Services Compensation Scheme (FSCS), and resolving consumer disputes through the Financial Ombudsman. FCA does its part in regulating member firms by seeking regular audit reports, tracking financial activities, and ensuring that brokers conform to an excellent code of conduct while dealing with investors in the UK, as well as with traders in the entire EU.
Give Me A Run Down On Atom8 Platforms
Atom8 has created a proprietary trading platform known as the Atom8 Trader, which provides access to the FX markets through a unique and functional interface. The Atom8 Trader is available in different formats that include Atom8 Trader Pro, Atom8 Web Trader, and Atom8 Mobile Trader for Android and iOS. Atom8 also provides the MT4 terminal for traders that require the familiarity of the MetaTrader platform, especially for traders that extensively use the help of Expert Advisors and the huge code base available in the MQ4 community for automated trading. The Atom8 Pro platform is also used for automated trading, which allows traders to create different automated trading parameters without any coding experience. The Atom8 trading platforms are connected to the liquidity providers through excellent ECN bridges, which guarantee to offer faster trade execution times and lower latency. Atom8 mobile traders can also enjoy a great trading experience through the mobile apps, both through the MT4 apps as well as the Atom8 Trader apps available on their respective stores.
What Are The Drawbacks?
Atom8 has very few drawbacks, but mostly, the broker does sound like an excellent proposition for traders that are serious about investing in the FX markets. Atom8 is committed to offering the same level of customer service to both retail, as well as institutional traders. Regardless, the higher trading capital should act as a deterrent for smaller traders, but Atom8 does not intend to cater to small traders in the first place. Therefore, if you are looking for more freedom and flexibility of trading such as lower barriers to entry, higher leverage, and overall better trading conditions for smaller accounts, you should consider other leading brokers in the market.