Independent rating of Forex broker ArgusFX

About company

ArgusFX is a division of the Cypriot investment firm Argus Stockbrokers Ltd. The forex broker is regulated by the Cyprus Securities and Exchange Commission (CySec). CySEC is an authoritative European regulatory agency that imposes a number of strict rules on companies. A broker must have at least €730,000 in its account as a guarantee of financial stability. Besides, clients' money must be kept in segregated accounts separated from the company's operating funds. CySEC also requires all controlled companies to join the Investor Compensation Fund. This also guarantees the safety of investors' funds as in case of the broker's insolvency, traders will be able to return up to €20,000. In addition, the Cypriot license enables intermediary companies to provide financial services in other EU countries under the MiFID Directive.

Trading conditions

• over 100 financial instruments, including futures and CFDs on indices, currencies, precious metals, commodities, treasury bonds, oil
• standard STP/ECN and pro STP/ECN accounts
• demo account
• commission charged
• advisors
• swap-free Islamic accounts
• popular MT4 and MT5 trading platforms
• trading platforms support three main currencies: USD, EUR, PLN
• negative balance protection
• news trading
• scalping and hedging
• seminars, webinars, free online courses from experts
• personal account manager
• daily news + fundamental and technical reviews

Trading platform

ArgusFX offers its clients MT4 and MT5 as convenient platforms for trading. The MetaTrader4 platform allows users to trade on Forex, analyze financial markets, and use expert advisors. Besides, MT4 provides access to trading signals and mobile trading.

Key advantages of MT4:

• STP/ECN trading environment
• functional advisors
• access to technical analysis tools with indicators and drawing tools for trading charts
• 3 types of charts
• VPS
• 24/5 support for traders
• MetaTrader5 is a multi-asset platform that enables users to trade currency pairs, stocks, and futures. MT5 offers convenient tools for comprehensive price analysis, algorithmic trading applications, as well as copy trading.

Key advantages of MT5:

• wide range of trading orders for flexible forex trading
• two position accounting systems: hedging and netting
• unlimited number of charts
• fundamental analysis based on financial news and economic calendar
• MQL5 integrated development environment for powerful algorithmic trading
• ability to copy deals of experienced traders automatically.

Support service

Each new client of ArgusFX can contact a personal account manager 24 hours a day, 5 days a week. Besides, traders can talk directly to a representative at one of the company's offices: in Nicosia, Frankfurt, or Limassol. Apart from that, the broker's support service is available via email, online chat or by phone. The official website of ArgusFX is translated into English, German, Greek, Spanish, and Arabic.

Traders’ reviews

There are both positive and negative reviews of ArgusFX on the web. Many traders complain about withdrawal issues and slow customer service. However, there are those who are quite satisfied with trading with the broker. They note the smooth operation of trading platforms, as well as the instant closing of market orders.

Advantages:

• regulated broker
• no deposit limits
• high leverage
• demo account
• low spreads
• large selection of trading instruments
• access to the popular MT4 trading platform
• scalping and hedging
• STP/ECN technology
• free training for beginners

Disadvantages:

• little choice of trading accounts
• commission charged
• no bonuses and special offers