ArgusFX Review

Review

ArgusFX, founded in 2000, is the registered trading name of Argus Stockbrokers Ltd and is a fully licensed investment services firm offering a wide range of services and products including Forex and CFDs. ArgusFX boasts of offering traders more than 30,000 financial instruments worldwide.

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

Argus FX is not available to U.S. residents.

Accounts

There are two different trading accounts at ArgusFX. The standard STP/ECN trading account, which is offered to retail and institutional clients, 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 this account and flexible leverage from 1:1 up to 1:500 is offered. Spreads in this account start from as low as 1.7 pips and traders are able to trade micro lots.

The PRO STP/ECN Account requires a minimum deposit $2,000 or an equivalent. This account has a flexible leverage from 1:1 up to 1:20, spreads, starting from as low as 0 pips and offers the ability to trade micro lots.

Market execution is used for both accounts. There is no commission for the STP/ECN account but a commission is charged for the PRO account.

ArgusFX Account Types

There are options to set up an Islamic account or a demo account but no details for either of these accounts are provided on the site.

Features

All ArgusFX traders have access to more than 50 financial instruments as well as a dedicated account manager  for accounts with over $20,000. The broker offers market execution, variable spreads and account rebates to retail customers, negative balance protection and zero charges on all deposits and withdrawals.

Scalping and the use of Expert Advisors are allowed and traders are able to control risk and leverage through the firm’s specially developed Client Portal. (There are no additional details given about this portal.)

Education

There are several educational features offered but surprisingly enough, they are not all available to holders of both accounts. In fact, traders must subscribe to the ArgusFX mailing list in order to receive the firm’s fundamental analysis on any of the products available for trading.

General market news is posted in detail on their daily-intraday page and there is a full economic calendar with events taking place across the globe. Traders can access live monitoring of financial instruments and online news.

ArgusFX Market Analysis

A glossary of financial terms can be accessed easily and there are several seminars provided online. Although webinars are mentioned, there were neither current nor past webinars listed.

The FAQ page was lengthy and informative.

Bonuses/Promotions

Although the word ‘Promotion’ appears on every page of the website, there was no information on any bonus or promotion being offered at the time of this review. Clicking on the word was not effective.  A note regarding the Celebration Bonus is included in the section on deposits and withdrawals but does not appear anywhere else on the site.

Deposits/Withdrawals

Deposits can be made to an ArgusFX account via bank transfer, credit and debit cards and a number of online payment plans such as Neteller, Skrill, Webmoney, QIWI, Sofort, CashU and others.

The minimum amount of deposit is USD 50 or other currency equivalent.

Withdrawals are made using the same methods and usually take 1-2 days depending on the method used.

There are no charges for deposits or withdrawals.

Funds from the Celebration Bonus will be held solely for trading with ArgusFX and cannot be withdrawn. At any given time, even after the expiration of the promotional period, when a client requests a withdrawal, ArgusFX will remove the Celebration Bonus credited into the client’s account.

Customer Support

ArgusFX provides fully individualized customer service with multiple channels of communication. Every customer has a unique personal account manager and enjoys 24/5 non-stop online customer service. Support is available 24/5 in different languages as is the trading itself. Traders can speak directly to a representative at the company’s Nicosia office. Emails as well as Chat are also provided.

Conclusion

ArgusFX has been around for over 15 years and has established itself as a serious player in the Forex industry. However, the site seems to be missing some important information regarding its features but does offer an extensive description of the available MT4 platforms.

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Features

ArgusFX offers traders standard features. The website is user-friendly and easy to navigate. There is a choice of two different trading accounts, one specifically for retail and institutional clients and the other for all types of traders. There are several different MT4 platforms available which encompass all types of different devices and traders can trade from any one of these devices. Some of the features are only mentioned in passing and additional information is missing.

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Platforms

MetaTrader 4

ArgusFX uses the popular MetaTrader 4 platform for all its trade executions.

ArgusFX Trading Platforms

With the ArgusFX MT4 Trader, traders can place orders and positions and receive equity and exposure online management. Live monitoring of financial instruments as well as online news and activity reports are available.

The iPhone MT4 Trader provides live monitoring for prices of financial instruments, access to all trading instruments and real-time quotes.

With the iPad MT4 Trader, traders can access real-time charts and reporting, technical analysis and all types of orders are accepted.

The Android MT4 Trader is also available and overs traders the ability to monitor positions, access a complete trading history and use various execution modes.

ArgusFX MT4 Mobile Platform

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User Reviews

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