ATC Brokers Review
Commissions & Fees
Education and Research
ATC Brokers has had a strong presence in the forex broker sector for many years. ATC Brokers has many interesting pros and cons, so is their platform all it’s said to be? Read our review to find out if this broker is for your trading.
About ATC Brokers
ATC Brokers is a company that has been operational in the forex sector, providing broker services since 2005. They have offices located around the world and fall under the regulation of three global financial bodies.
In the U.S., the broker is regulated by the National Futures Association as an Introducing Broker; in the U.K., they are regulated by the NFA, and in the Cayman Islands by CIMA. Throughout the years, this regulation has been one of the foundations which have seen ATC Brokers grow to its current levels, and through this ATC Brokers review, we will gain a comprehensive insight into their other features and offerings to traders.
ATC Brokers Account Opening
The broker offers one account type for use by its traders. These encompass all of the products and functionality offered by ATC Brokers. Beyond this standard account type, traders can choose to open a joint account, or professional traders also have the choice of opening a corporate account through ATC Brokers.
The minimum deposit is relatively high when compared with many other major brokers. This is something that may discourage new or casual traders from opening an account with ATC Brokers. The minimum required deposit varies slightly dependent upon the regulatory jurisdiction of ATC Brokers.
For U.S. based traders, the minimum deposit is $3,000.
For U.K based traders, the minimum deposit is $5,000, or equivalent in GBP/EUR.
For other traders operating through the CIMA regulated site of ATC Brokers, the minimum deposit is $2,000.
Availability And Ease Of Opening
ATC Brokers accounts are available to users in most countries around the world and relatively easy to open. Opening a demo account requires just your basic personal and contact information, and this process should be completed instantly, although they advise it can take up to 24-hours.
Opening a live account with ATC Brokers is a more detailed process where you should provide a lot of personal and background information to establish your trading profile. Once this is complete, you should also submit one form of identification and one address proof. These will verify your account for trading. ATC Brokers have a review period of 1-2 days after submission of live account application and 3-5 days for corporate account approval.
ATC Brokers Product Offerings
ATC Brokers offer a range of markets to trade, which could be considered basic by the standards of many major brokers in the industry. That said, they still manage to include all of the fundamentally popular choices to traders. These include a range of 38 forex currency pairs, both major and minor, and trading in 12 selected CFDs. These include several indices, 2 metals, and oil.
For a trader who is specifically focused on trading certain markets in larger volumes and who knows what they want, ATC Brokers may be the right choice, having removed other less-popular markets to lessen distraction.
ATC Brokers Commissions And Fees
ATC Brokers operates on a commission basis. This commission stands at a basic $6 per round turn on a standard lot of 100,000 currency units. Trades with ATC Brokers are executed on an ECN basis, which allows the broker to minimize spreads. These spreads average between 0.3 – 0.5 pips on major currency pairs. This brings ATC Brokers relatively in line with most of its competitors and their spreads on similar markets in the sector.
ATC Brokers does feature a few non-trading fees. The predominant among these are rollover fees similar to those charged by every broker in the industry. These will vary depending upon market positions and other factors and can be checked out in greater detail once your account application has been approved.
Inactivity fees are also charged by the broker. After each 6 month period with no trading activity, traders will be charged 50 units of their base currency until their account reaches no balance.
Finally, whilst bank wire deposits are free of charge, ATC Brokers does charge for international wire withdrawals. This fee amounts to 30 EUR or 40 USD.
ATC Brokers Platforms And Tools
ATC Brokers takes a focused stance in regard to its platform offerings. They provide traders with only the choice of MetaTrader 4. This is available in both desktop and mobile format. The offering is bolstered by the inclusion of MT4 Pro, a proprietary plugin developed by ATC Brokers, which further enhances the already well-regarded platform from MetaQuotes Software.
MT4 provides the same fundamentally excellent service through ACT Brokers as it does with the many other brokers throughout the forex broker sector who offer it. The somewhat minimalist appearance of the trading platform is strengthened significantly by its speed of execution and technical offering.
The MT4 charting experience is completely customizable, from the central control windows initial display to the addition of some hundreds of technical indicators and professional charting tools; MT4 is the perfect playground for those who like to engage in technical analysis, which is highly flexible yet easily displayed.
The market watch window to the left side as well as the bottom taskbar providing all the control which any trader needs in order to keep up to date with market movements and quickly obtain a snapshot of their position.
The MT4 Pro plugin further enhances the offering, with visually appealing statistical analysis to chart profitability and trading success in the most precise and clearly displayed manners.
Mobile Trading Platform
The MT4 mobile trading platform again offers convenient and fast trade-execution on the move with a wide range of technical indicators and charting capabilities, which are often not available from most other mobile trading platforms.
MT4 mobile excels in being user-friendly, as does its desktop counterpart. This, in combination with the technical power it provides, has made it a hit since its launch more than a decade ago, and it is well-suited for ATC Brokers. This is particularly true since, with their high deposit requirement attracting a majority of well-experienced traders, there is a greater chance they will know or have used MT4 on previous occasions.
ATC Brokers Differentiators
The foremost differentiator which many trades will notice with ATC Brokers is their substantial deposit requirement. This may be daunting to some traders, whilst others will welcome the opportunity to engage in serious and focused trading with a premium level broker.
Further to this deposit requirement, usually attracting a more experienced and high volume level of trader, users can experience a more individual and personalized feeling from using ATC Brokers. This is extended by the use of the MT4 Pro, a proprietary plugin by the broker. This serves to enhance an already positive and respected trading platform experience.
ATC Brokers offers 24/5 customer support through a variety of methods. These include telephone support services on the local UK or US-based number depending upon your location, email support available through the broker’s website, and a live chat feature that converts to email during unavailable hours.
Timing and response to queries during testing were prompt. The email was answered the same day with a clear and effective reply, the telephone support service was operating and available in under 5 minutes, and the live chat function, although not available at the time of questioning, was responded to within a few hours.
As another option, the ATC Brokers website features a detailed FAQ section to help guide traders without the need to directly contact support.
The level of service offered by ATC Brokers has many similarities to brokers of similar stature in the sector and is an area that performs well as expected.
ATC Brokers Trustworthiness
As one of the few forex brokers regulated in providing services to US-based traders as an introducing broker, ATC Brokers cultivates a stellar and trustworthy reputation from the outset. Being regulated by the FCA in the UK is also a very positive and enticing point for the broker.
Finally, ATC Brokers’ presence in the forex sector since 2005 and the fact that they only accept account openings with a premium level of deposit go a long way toward indicating the levels of professionalism and trust they incorporate within their operation.
Conclusion: ATC Brokers
ATC Brokers have been present in the forex broker sector for many years. Throughout that time, they have managed to attract a global trader-base and provide them with a top-quality service. This base continues to grow, with well-placed regulation and a broker who knows their target market.
ATC Brokers focus on MT4, together with high minimum deposit requirements may be unattractive to many new or low-volume traders; however, they appear to provide a fast, effective, and highly professional service for those experienced traders who know what they want to achieve from forex trading and at some very competitive rates.
- Regulation in the EU, as well as other jurisdictions, will appeal to traders who may be more cautious or seek the added assurance which well-respected regulation provides.
- Customized MT4 plugin is highly praised by many experienced users in helping to enhance an experience that is already renowned for its professional capabilities as a trading platform.
- ATC Brokers offers some of the most competitive spreads when compared with others in the sector.
- Limitations in both trading platforms and available products may dissuade some traders who desire a more diverse range of offerings.
- The hefty minimum deposit will work against attracting new or casual traders to the broker.
- Research and other professional resources lacking beyond the availability of an economic calendar.