Read our full Atom8 review below.
WHAT IS ATOM 8?
Found in 2013, Atom8 is a respectable forex and CFD brokerage firm with its headquarters located in London, United Kingdom. This online broker is regulated by the FCA which is known as Financial Conduct Authority.
At Atom8, clients can trade a range of trading instruments, such as forex trading, as well as trading in precious metals on CFDs and spread betting.
The broker also offers a variety of trading platforms to its traders, including Meta Trader 4, and the in-house platforms which include the Atom 8 Web Trader, as well as the Atom 8 Trader Pro, and automated trading.
INTRODUCTION
Atom 8 is one of the foreign exchange trading platforms that came into existence in the year 2013. It was created by JP Morgan who is a lawyer. He created it out of his desire to introduce a modern-day forex trading company that will take the interest of its traders at heart.
The trading platform was introduced in London, and it has its headquarters in that part of Europe. Unlike other systems before it, it appears that the creators of the system are more interested in acquiring wealthy traders to their platform.
Atom8 is FCA licensed which is a good thing for traders. It means that investors’ money is not only safe, but they are also secured as well. The implication of this is that the company fund is kept apart from the investor’s fund. One of the benefits of using FCA-protected brokers is the safety of your funds which this authority guarantees.
Furthermore, the platform is focused on offering its customers ECN accounts and it is meant for those who are ready to trade big. This platform is not for the beginner or smaller traders. Traders will not find it hard to use the system because they provide several trading platforms which include the standard trading platform like Meta Trader 4, web trader platform, as well as the Atom8 Web Trader Pro.
Besides, they make available different software as well as educational resources that can help you to take your trading experience to the highest level. They do not provide their services to lots of countries including the US.
PROS & CONS
Pros
- They provide first-class customer service from experienced traders
- It offers free API feeds for its users
- Makes available free automatic chart pattern for its users
- Provide instant signals
- Easy to set up and trade
- Offers different currencies
- Makes available free market analysis
- Safety of funds because of FCA regulation
- Different trading platforms available for its customers
- Low trade spreads
Cons
- Not available in many places
- Requires huge capital to start
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TRADING INSTRUMENTS
The brokers do not offer all kinds of trading instruments. For its users who are mainly UK residents, the platform they currently offer forex trading, as well as trading in precious metals on CFDs and spread betting.
These are the major instruments, and these trading instruments are accompanied by useful information, learning materials, and other tools which can assist you to thrive in the trade.
TRADING PLATFORMS
One of the greatest benefits of using this broker is the number of trading platforms it makes available to its clients. Every user of this platform can benefit from the various systems it offers its traders. The trading platforms available here include the following: Meta Trader 4.
There are also other in-house platforms which include the Atom 8 Web Trader, as well as the Atom 8 Trader Pro, and automated trading. The Atom 8 trader’s platforms are manually operated. Customers enjoy fuzz-free trading. This system offers high-speed software.
They also make the available mobile trading system, and you enjoy these on any of the platforms you choose to trade. You can use it on both iOS and Android devices.
ACCOUNT TYPES
Atom8 made available to its clients two types of trading accounts. The trading accounts are also based on the Platform provided by the ECN. You can create two types of ECN accounts, and there are similarities between these two accounts. The major differences between the two accounts are based on the commissions.
One is a commission-free account, and this attracts a higher spread. The raw spread account on the other hand provides an ultra-tight spread. This also paying a commission for any trade you place. With the two accounts, it is possible to have traded in all the 52 currency pairs the broker currently provides.
In the same way, they have access to precious metals, commodities on betting account and spread betting account. The spread betting account is available to clients based in the UK as well as Ireland.
To open an account with the platform, the minimum deposit you can make is five thousand Pounds. This account is considered huge. It is generally high for any brokerage.
The customers can choose between Standard Retail account and Elite Retail account and Premier Retail account. First-time traders can equally start with a demonstrating account which is known as a demo account.
HOW TO OPEN AN ACCOUNT
It is not difficult to open an account. You first visit the official website of the brokers, and this is where you can open both the demo and live trading accounts. To open an account means that you must register with the company. When you open the registration portal you supply the important information required from you to create the account.
You provide the personal information within the first and second steps of the registration process while in the third stage you can complete that registration. The process takes to open a demo account is not much different from what it takes to open a live trading account. When you open the live trading account, the next thing you must do is to fund the account.
The first step involves getting initiated to the platform and this is where you apply for that registration. This is completed in the second step where you provide your personal information while in the third as well as the final stage of the registration process it is completed, and you must fund your live trading account.
Remember that the minimum account you can deposit to this account is just five thousand pounds.
DEMO ACCOUNT
Atom8 provides a demo account. It is a demonstration account where you can register and learn how to use the platform and learn how to trade the various trading or market instruments provided by this broker. You can register and it comes with useful educational and training materials that can assist you in acquiring the knowledge without difficulties.
The registration process is not different from what you get in real or live trading. The only difference is that you will not fund your trading account as you would have done in a real trading account. You can learn how to use the various trading platforms provided by the brokers using the demo account.
SOCIAL TRADING AND COPY TRADING
The emergence of various social media networks has made social trading and copy trading very popular. This makes it easier for traders and their followers to be connected online in real-time. This system makes it easier for traders to be connected to their followers and the followers can view as well as analyze the performance of the trades and can copy from it.
The system makes it easy for the followers to follow the traders automatically and manually depending on how you want it and the platform you choose. To become successful with the trade then you must follow and copy only successful traders. This means that when successful traders make a profit, you can make a profit with them once you copy their trades.
Most notable brokers apart from Atom8 now allow this feature and it is helping traders across the world to progress in the trade. This is one of the ways this broker makes its clients gain from the trading instruments.
COMMISSIONS AND FEES
This company offers various kinds of accounts. In the same way, their operations are different, and it is affected by the regulated entity that is controlling them. It is not surprising that in this kind of business that clients would be subjected to different kinds of fees and this varies across countries and places of residence.
The Atom8 offers two types of accounts as you are already informed. These accounts are also different in their options, costs as well as fees. The system offers Vantage Prime Trader Platform, and it is just a spread-only account, and this starts from 0.6 pips with a zero commission.
When it comes to fees, it is important to state that overnight fees, as well as swap rates, would equally be paid for trading positions that are held for a day longer. The overnight rate fee here is one of the best. It is available and you can check through the platform before you commence the trade.
Do not forget the system offers a commission-free account which offers a beginner spread of 0.6 pips. The cost for the average raw spreads and commission account is 0.25.
This broker has continued to make available lower spreads which is good for traders. The reason is that it reduces the cost of the trade. In the same way, the commission they charge is manageable as they charge 1.5 pounds for 100,000. The maximum leverage currently available with the platform is 1:200.
LEVERAGE
When it comes to leverage, the maximum leverage is 1:200. There is also the leverage of 1:100 which they make available to their customers. Furthermore, this broker brings down its leverage to 1:30 if the market is to close at the weekends. This is detrimental to traders who are trading on a high margin. It is not good for overnight traders.
They need to be very careful when they are using the platform to trade on higher leverage. This is to avoid what could be the consequence when there is the weekend changing margin that affects the trade.
The maximum possible forex leverage you get from this platform is 1:30 while for those trading on commodities it is 1:10. The system also makes it possible for professional traders as well as institutions to ask for higher leverage.
WITHDRAWALS AND DEPOSITS
This broker is more complicated than other brokers when it comes to the issues of withdrawals and deposits. The withdrawal and deposit methods available here are not like what you get elsewhere.
They offer just a wire transfer and not an e-wallet. Previously the system made available for its customer’s credit, as well as debit card payment options. These payment options are no longer supported. The other interesting thing about them is their membership.
There are lots of countries the platform cannot accept membership from, particularly some Asian countries. In the same way, they do not accept membership from the US even though the company is based in the UK.
In the platform, you would discover different ways of deposit and withdrawal and you must ascertain those that are currently active. The prominent among the options that are available with the system include bank transfers.
They make provision for online credit as well as debit cards. It offers various opportunities for clients in the UK. Such clients can fund their accounts with the payment of cheques.
The platform includes bank wire transfer, credit card transfer, debit card, cheques, SEPA, and so on. In selecting a payment method, you must be mindful of the various fees that are associated with it. If you want to use the platform, it is better to visit the website and discover the various available payment options and make your choice.
The various options mentioned above include both the payments and withdrawal options. For withdrawals, the system makes available wire transfer, SEPA as well as faster payment. As said earlier most of these options are no longer active. These being listed do not in any way suggest that they are active in the system. You may not use them to process payment.
CUSTOMER SERVICE
This company is not lagging when it comes to customer support. The customer service department is always available, and you can contact them through the phone. Another way of contacting them is the live chat and email. You can open a communication channel with them by checking through the online help button.
Brokers like this must have various means of contact. This makes it easier for their clients to contact them when the need arises. The customer service is available five trading days of the week.
SAFETY AND SECURITY
The broker takes the issue of safety very seriously. One of the keys features to consider before you choose a broker is the safety measures they put in place for the safety of the investor’s funds.
It is already stated that the operations of the broker are regulated under FCA which stands for Financial Conduct Authority. This is a watchdog, and they help to ensure the safety of the investor’s funds. Because of that, you are sure that it offers the best-secured trading and investment environment.
The FCA guideline ensures that the company complies with the best practices. It is a safer broker since it complies with all the financial regulations put in place for this kind of business. The safety of investor’s funds is one hundred percent guaranteed.
Every investor is covered with at least the sum of fifty thousand pounds, and they can get compensation should there be insolvency.
SAFE OR SCAM
Atom8 is safe, it is not a scam. Any investment you make with this brokerage company is one hundred percent safe.
Here are some of the evidences of safety:
First, is that the company is highly regulated by the FCA which is known as Financial Conduct Authority. This regulatory authority provides a safe regulatory environment and that is why investors with this company are sure of their investment.
They provide all the necessary guidelines, and they ensure that brokers stick to the guidelines they provide. Since the company sticks to these strict financial regulations, it is good to say that it is safe to invest with the company.
To ensure the safety of the investors, the company makes for indemnity insurance along with the accompanying compensation schemes which come into operation in the case of insolvency. Every client of the broker who is using the platform is covered up to the amount of fifty pounds.
It is not a scam because all the major operators of the company are known. None of them is faceless. These were tested and trustworthy investors.
EDUCATION
The company makes available different educational resources that can help them master forex trading. You must avail yourself of this opportunity and learn everything you are supposed to know about the market, investment portfolios as well as the risks involved.
The information available to you will cover a lot of areas which is not restricted to forex trading. It covers other areas like commodity trading. They provide enough links that would take you to other informative websites where you can acquire a lot of knowledge about the kinds of investment opportunities they currently provide for their clients.
Every trader must avail himself of this opportunity and acquire as much training as they can through this platform.
RESEARCH
Success with this trading system is one hundred dependents on research. It is not surprising that this system makes available to its customer’s different research tools and instruments that can help in determining the next line of action to take in your trade.
Research is necessary since it is based on speculation. You must study and predict the next move of the market before you commit your money to the trade.
If you fail to research the market before you invest, the possibility of losing money is always there. This means that if you want to stay profitable in this trade, then you must research and move ahead of the market.
Before you choose a broker, you must ensure that all the research resources and materials are readily available to you. This is exactly what the system makes available to you.
The platform makes available to you various advanced analytical tools as well as charting software and indicators. You can combine these with the educational resources available to you, and those you can find elsewhere to predict the movement of the currency pairs you want to trade. The system provides you with everything that you need to take advantage of the market.
AWARDS
The company is globally recognized because of the successes it has achieved since 2013. It is in the light that they were given awards and recognition by respected organizations across the world.
You can see this in various publications. The availability of these publications is a clear indication that the company knows what it is doing, and it has gained the attention of reputable investors. It is a superior forex brokerage company.
PROMOTIONS
Atom 8 from time to time do offer promotions and bonuses. Before you can enjoy these special benefits, you must first open an account with the trading platform and begin to trade.
If you check the website, you see that they update the list of their promotions and bonuses. Take advantage of these promotions and bonuses and gain from them.
CASHBACK
This is one of the privileges that clients enjoy when they use this service to trade live forex account. It is one of the ways of giving back to patriotic clients who have confidence in what the company can offer. Such cashback, promotions, and bonuses are highly profitable for traders.
Moreover, it does not involve any fee and commission, and this is available in the platform irrespective of the various trading method you choose to trade with.
CONCLUSION
Atom8 is one of Europe’s leading forex trading brokers which has been in operation since 2013. It is part of the electronic communications networks ECS. This company has specialized in offering online trading currency pairs as well as other derivatives like commodities, precious metals, options, indexes, and several others.
The company has a large customer base though it does not accept clients from some parts of the world, especially some Asian countries. This company which is licensed under FCA is one of the transparent companies you can do business with. When you invest with the company, you are one hundred percent sure of the security of your investment.
They provide different trading platforms, and you can trade through any of its platforms and choose from the trading instruments and options.
