Editor’s Verdict
Overview
Review
Headquarters | Cyprus |
|---|---|
Year Established | 2015 |
US Persons Accepted? |
ATIORA calls itself a ‘lovely ECN broker’. The company is registered in St. Vincent and the Grenadines and in Seychilles, though it does not appear to be regulated in either jurisdiction. These are both places well known for offshore financial activity with little or no regulation. Since Forex brokers in these countries are not required to have plans for compensation if they close or keep client’s money in separate accounts we recommend that assess the risks carefully before depositing with this broker. It is much more secure to deal with brokerages that are regulated in the EU, Australia or other strictly regulated regions.
This brokerage only started operating in 2015 so there is not much history to base opinions on. It seems pretty clear that although there is plenty of room for improvement, the company invests significant energy into building its credibility.
ATIORA offers trading of 60 currency pairs and uses the MetaTrader4 system. This brokerage also offers many different types of demo options so that you can learn their trading systems and try the software without risking your money.
One of the big advantages to trading with ATIORA is the low balances they require in order to trade. They do not require a minimum amount to open an account and allow trading with a deposit of only $1. A $200 deposit will get you a Pro Account. This is very low for the industry, even for offshore brokerages. The multi-tiered system is a plus to many traders.
ATIORA offers trading contests that claim to reward traders with significant bonuses. However, traders have been complaining online that they have not received received the bonuses they are expecting. Additionally, these bonuses are only available to those investing $100 or more which encourages people to start out with a higher-level account. Though this may be a classic marketing tactic, it also takes advantage of traders who don’t quite understand what they are registering for.
The spreads that are offered by this brokerage vary with account type. The classic accounts offer a spread starting at 2.5 Pips and the ECN Pro account comes with a spread starting at only .1 Pips. Trades from the ECN Pro accounts also are subject to an $8 per lot commission. The leverage amounts for these accounts are as follows: A classic account has 1:200 leverage and the ECN Standard and Pro Accounts have a leverage of 1:100. Since other brokers offer higher leverage, traders looking to risk more per trade may find what they’re looking for elsewhere. Nevertheless, the lower leverage limit is designed to protect traders and may be a benefit in the long run.
The online trading platform used at ATIORA, MegaTrader4, is a very popular platform that allows users to trade from their desktops or mobile devices. Trading using this platform is simple and straight forward, with one click. Expert Advisors (EAs), advanced charting, and a variety of technical indicators. This platform works well with the global nature of this brokerage and allows for trades to take place from all over the world at all different times of the day.
Thankfully, the feedback on the speed of their transactions is positive. They don’t seem to be playing around with the time frames which can be a strong indicator of a dishonest brokerage. This is not entirely uncommon when dealing with ECN brokers, who are known for having the best trading speeds. Customers have reported having appropriate access to their funds which is a big relief when dealing with a new, offshore firm.
Traders seem to be happy with the level of customer service provided by this firm. They offer call back services, 24 hour online chat and telephone support. This is another indicator that ATIORA is not a scam, as scam brokerages do not provide good customer support at all.
Some traders complained that ATIORA’s website has a lot of pop up advertisements which are distracting and annoying. There are also several errors in the English on their site, which may bother traders looking for a broker that is flawless. Overall, although there is room for improvement in some areas, it seems that ATIORA may provide a fairly decent ECN trading experience for anyone who doesn’t mind the lack of regulation.
Trading Platform
