Minimum Deposit: $1
Maximum Leverage: 1:1000
There are various Atirox reviews on some websites and most of them are negative. So, I decided to look at if the Atirox is a scam or reliable forex broker.
The broker is established in 2015. The mission of the broker is to offer forex trading, the world’s largest, most liquid and popular market, with sound experience and latest technology.
You are going to take the answers to these questions. Is Atirox scam or not? What are the account types of Atirox? What are the trading conditions such as spreads, leverage, and minimum deposit?
Before starting the first section of the review, I want to give some information about the broker’s website. The website, atirox.com, has 43K average visitors per month. Most of them are from Malaysia, Russia is following them.
Now let’s start with regulation.
Regulation of Atirox
Atirox is an offshore broker. It means it doesn’t have a reputable license. According to the official website of the broker, Atirox is registered by the Financial Services Commission under the Securities and Investment Business Act.
However, when I check the registration, I found nothing about it. There was no way to verify whether this information is true as there is no mention of Atirox Inc. on the Financial Services Commission website.
So I can easily say the broker is not registered. You can also control the result by searching the company’s name from here.
Regulation is the most crucial issue for brokers. They must offer a security for the clients’ funds. If they do not provide it is so risky to trade with them.
As I always say in this blog, working with reliable brokers makes your trading safer. So who are these reliable brokers? How can you know the broker’s reliability? I can answer these questions by looking at the regulators of the brokers.
FCA, ASIC, CySEC and similar various watchdogs are the most reputable regulators around the world. Because they require some strict rules for the brokers to take their licenses. For instance, a broker who is regulated by UK’s FCA and Cyprus CySEC must hold at least £730,000 as minimum net capital.
On the other hand, ASIC-regulated brokers must hold minimum net capital at least $ 1 million. Also, these capitals must be kept in segregated accounts, separated from broker’s operating funds.
In addition, FCA and CySEC regulated brokers offer their clients a compensation scheme. The Financial Services Compensation Scheme (FSCS) in the UK for FCA-regulated brokers’ clients.
The FSCS protects the client’s funds up to a maximum of £50,000 per person and per institutional when the broker bankrupts. Cypriot Investor Compensation Fund is for CySEC-regulated brokers’ clients and it protects up to £20,000 per person.
Unfortunately, ASIC regulated brokers do not provide any compensation scheme.
Account Types and Spreads
Atirox offers its clients various account types. There are five different account types such as Micro, Classic Fix, Classic, Pro and Crypto.
The micro, classic fix and classic accounts are commission-free, micro and classic fix accounts provide fixed spreads but classic account provides floating spreads.
Pro and crypto accounts include commission but spreads are quite low. It starting from 0.05 pips for pro account and there is a commission $10 per round.
Minimum deposit is $1 for the micro account and this is pretty low. The maximum leverage is 1:1000 and it is insanely high. Spreads are fixed and it is 3.0 pips.
Classic Fix is one of the new accounts of the broker. The minimum deposit is $10, leverage is 1:500 and spreads are fixed 2.4 pips. Minimum trade size is 0.01.
Classic is the popular account of the broker. The minimum deposit is $50, maximum leverage is 1:500 and spreads are floating 1.1 pips.
Pro account type is suggesting for big players. The minimum deposit is $300, maximum leverage is 1:100 and the spreads are starting from 0.05 pips + $10 commission per lot.
Crypto account is for clients who want to trade in cryptocurrencies. The minimum deposit is $10, maximum leverage is 1:10, and spreads are starting from 0.05 pips + commission 0.15%.
Forex broker Atirox offers the most popular platform MetaTrader 4. The platform provides the most freedom to implement trading strategies. Traders around the world have created a large number of expert advisors (EA) for this terminal.
The MetaTrader 4 includes some features. Some of them are autotrading, technical analytics, trading operations and security.
Atirox provides various trading instruments such as Forex, Spot Metals, Commodities, CFDs and Cryptos.
Trading in Bitcoin and other cryptocurrencies is very trendy lately and many forex brokers have added them to their offering.
These cryptos are Bitcoin, Bitcoin Cash, Dashcoin, Ethereum, Litecoin, Alcoin, Monero, Ripple and Zcash.
The website of the broker support 5 languages. Indonesian, Malaysian, Slovene Chinese and English.
Atirox offers also a live chat but it is hard to connect it. I tried four times but it failed. The broker gives a lot of information on its website but must improve their live chat.
The broker offers three bonuses. First of them is a %50 deposit bonus. You can get the bonus by entering the promo code. It will confirm automatically. But MT4 Accounts Crypto and Pro do not participate in the promotion.
Second is the prime bonus that gives you $1800 and you can use it for trading. There are rules for it and it is not easy to take the bonus as you will see if you read them.
The last one is the Atirox welcome bonus which is very popular. I will explain this bonus with an example:
You deposited your account with $1, verified it and got Welcome bonus 50USD or 50USM which is shown in the “Credit” field. Then start trading and can withdraw your profit.
This bonus is not available for Crypto and Pro accounts also.
Deposit & Withdrawal Methods
Atirox offers a large variety of ways to deposit or withdraw. You will be able to deposit funds to your trading account via wire transfer, credit/debit card and popular electronic payment systems.
Fasapay, Perfect Money, Neteller and Bitcoin are available to fund your trading account. The broker also offers local banks in Malaysia, Indonesia, Thailand, Vietnam and China.
Atirox is an unregulated forex broker and is not providing good trading conditions. I can’t say Atirox is a scam but many of the clients call the broker as a scam. You should be away from them if you don’t want to lose your money to scammers.
If you are looking for reputable brokers you can check my top forex brokers list.