ArgusFX review (2022) Review
To begin with, the company was founded in 2013, if the age of the domain is to be believed. At the same time on the broker’s website there is no exact start date of the service, so there are different years from 2000 to 2003. ArgusFX belongs to Argus Stockbrokers Ltd. Also, this company is authorized by the Markets in Financial Instruments Directive (MiFID) to provide financial services to European citizens. The links to the licenses are available directly in the “About Us” section. In addition, the broker obtained membership in CSE, ASE and ADEX.
The company offers its clients more than 60 currency pairs, including exotics and crosses, as well as 65 CFD stocks. The trader can trade various indices and commodities, as well as 14 futures contracts and spot metals. ArgusFX plans to add cryptocurrency to its list of assets.
Average spreads are 1.8 pips for EUR/USD on a standard account, but drop to 0.3 pips on a Pro account. Minimum spreads for indices on the standard account start at 0.6 pips for the S&P 500 and 0.46 for spot silver. These are pretty favorable terms compared to similar retailers from top brokers.
There are monthly data fees on stocks and futures, starting at 1.5 per contract for retail clients. There are also commissions on cash indices starting at 0.5 euro/$ per lot. Swap commissions are also charged on overnight positions.
Broker ArgusFX provides default leverage of 1:30 for major currency pairs and slightly less in scale for various assets. Clients may have a right to higher leverage if they follow certain conditions. In this case, the trader gets the status of a professional client.
Trading platforms from ArgusFX
MT4 is a strong instrument for technical analysis and online trade. The platform is suitable for advanced traders who know what hedging and scalping are. At the same time, it is considered an ideal solution for novice speculators because the simple interface makes it easy to learn.
Of the features of MT4 can be noted:
- STP / ECN support;
- range of currency pairs for trading
- available advisors;
- a rich option of technical analysis instruments;
- different types of charts;
- hedging and scalping allowed;
- 24-hour client support available 5 days a week;
MetaTrader 5 is also available for use, this version offers excellent algorithmic and copying tools for advanced traders. Users can access an unlimited number of charts with multiple timeframes and over 80 technical indicators and analytical tools. There is also financial news and an economic calendar for fundamental analysis, as well as trading signals and a built-in VPS for Forex.
ArgusFX offers an MT4 mobile application to all clients. Regardless of whether you trade on your smartphone or tablet, you will be able to monitor your operations remotely from your computer. Mobile App – 24/7 access to the terminal, over 50 indicators, analytical tools, online quotes, 4 types of orders.
In order to expand its client base, ArgusFX broker offers several account types for potential clients to choose from:
- PRO STP – the minimum lot is 0.1. The minimum deposit starts at $200 or the equivalent in another currency. As underlying assets are offered currency pairs with the U.S. dollar, the European euro or the Polish zloty. Spreads are floating and start at 0.3 pips. Leverage may reach the ratio of 1:500. There is an opportunity for micro-lots trading.
- Standard STP – suitable for beginner players. This rate doesn’t imply the entry threshold and that’s why practically every businessman can start trading operations. Spreads start from 1.8 pips.
- Audit Trail Service is the tariff for professional investors. Unique trading tools are available. The client is offered innovative solutions, honest and transparent service. The trader is able to trace the order and to watch how it passes to the liquidity provider. Settlement of client orders and registration of a professional account are offered.
Argus FX users can train skills and gather new experience with the help of a demo account. User of the demo account is offered the same conditions and instruments like a live account user. The difference lies in the expiration of the account, demo account is available during 30 days only. After you need to create a live account if you want to be a part of Argus FX community. It will take up to a few minutes to create a demo account. Just follow the site navigation and fill in required field.
Technical support ArgusFX
Reliable brokers mean prompt, qualified assistance regardless of the time of day. It is difficult to refer the company in question to such organizations, because there is no specified mode of support and there is no fastest option of communication – online chat.
You can get advice from ArgusFX in the following ways:
- Phone call;
- Office in Cyprus;
- Feedback form.
Deposit and withdrawal
Deposits can be made to the ArgusFX broker account via bank transfers, credit and debit cards and online payment systems such as Neteller, Skrill, Webmoney, QIWI, Sofort, CashU and others.
The trader can withdraw funds in the same way he deposited them. The withdrawal usually takes 1-2 days depending on the method used.
No fee is charged for deposit or withdrawal.
Advantages and disadvantages
- The broker owns a license from CySEC;
- Demo account;
- The minimum deposit of $0;
- MT4 and MT5 platforms;
- Misleading customers about seniority. The site was launched in 2013;
- No online chat for communication, no working hours
Pros / Cons