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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.
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.
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.)
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.
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 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.
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.
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.
Review info: ArgusFX
Review Date: 2015-10-12
Rating : 2
Reviewed By : Sara Patterson (Google+)