Welcome to our ATC Brokers review! ATC Brokers is a UK-based online investment platform that offers trading in forex. ATC Brokers came to the online brokerage scene fairly early, being founded in 2005 and quick to embrace the latest technologies. The platform has a global reach, accepting clients from around the world, but it is undoubtedly most popular in the UK and the USA. Operating out of California, ATC Brokers USA has built a reputation for its focused offering and is quick to laud its transparency and unbiased market service.
Whilst there are some mixed ATC Brokers opinions on the web, the platform benefits from some fairly robust regulation and offers a good selection of tools and features. The aim of this ATC Brokers review is to take an in-depth look at the platform and assess everything from its trustworthiness to the usability of its trading platform. Is there an ATC Brokers promotion? Is it a legitimate trading site? After reading, you should be able to answer these questions and decide whether the platform suits your own trading goals. You’ll also be able to see how it measures up against rivals found in our Ally Invest review, eToro review, and Fortress Capital.
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The legitimacy and reputation of a broker is always a major concern for traders. Even if a firm has been on the scene for several years, reputations aren’t always enough to go by when investing funds. With this in mind, our ATC Brokers review took a closer look at the broker to ascertain just how legit it is.
ATC Brokers was founded in the UK and was authorized by the Financial Conduct Authority, which is a world-renowned regulatory body for British financial institutions. Being FCA regulated may not have direct relevance to those looking to open an account in the US, but it does lend a degree of trustworthiness to the broker from the outset, as the FCA has stringent guidelines to protect customers from any shady dealings. Internationally, ATC Brokers is also regulated by the Cayman Islands Monetary Authority.
ATC Brokers USA is regulated by the National Futures Association, which was set up to oversee the derivatives markets and offer protection to investors. However, in the US the firm is only regulated as an Introducing Broker, which effectively means the broker is in contact with clients directly but delegates trade execution and back-office operations to third parties.
Whilst the US regulation of ATC Brokers is less stringent than that of other authorities, it is enough for traders to be confident that ATC Brokers USA is not a scam.
Thanks to its streamlined offering, the ATC Brokers USA website is well laid out and easy to navigate. Access to the trading platform, educational resources, customer service, and account information are all easy to find via the tabs at the top of the screen. There is also a page dedicated to the products and services provided by the company. Each page then presents information in a clear and intuitive way, making it easy to find what you are looking for.
In terms of design, the ATC Brokers USA website has a minimalist color design that, whilst somewhat perfunctory, is non-offensive and easy on the eye. Overall, it feels modern and functional. There are also very few complaints regarding the site’s performance – it is quick to load and our ATC Brokers review found no dead links. The simple design of the site also makes it easily portable to mobiles and tablets without losing functionality.
Our ATC Brokers review USA also found that the site works perfectly with mobile devices, with no noticeable impact on the layout or appearance of site pages. Of course, responsive performance is to be expected with what is quite a simple website, but ATC nonetheless delivers a pleasing interface that does everything it needs to.
ATC Brokers offer 3 types of accounts – individual, joint, and corporate. The options are fairly self-explanatory and apart from differences in access and transfer options, each account will appear the same. In practical terms, the ATC Brokers open account comes in one size. There are no membership tiers, VIP services, or other memberships associated with the site. This is largely in-keeping with ATC’s streamlined approach to trading and it means that opening an account is extremely straightforward – you simply click on the omnipresent ‘Open Account’ tab at the bottom right of the page and it will take you to the sign-up form.
One thing to be aware of when opening an account with ATC Brokers USA is the reasonably high initial deposit requirement. The minimum amount required to open an account is $2,000. This is considerably higher than the $50 required from its rival firm that we discovered in our Forex.com review, yet a great deal lower than the $10,000 minimum deposit for CitiFX Pro accounts.
When opening an account, you will need a government-issued proof of ID and proof of residence for all parties to be named on the account. Acceptable forms of proof of residence include utility bills and bank or credit card statements.
ATC Brokers claim that on average an individual and joint account takes 1-2 business days and a corporate account takes 3-5 business days, assuming the necessary documentation is in place.
ATC Brokers USA continues its streamlined theme with its singular platform offering. Experienced traders will probably already be familiar with MetaTrader 4, as it is one of the most popular platforms available on the market. However, the existing format has been augmented with MT4 Pro, a plugin developed in-house by ATC Brokers which expands upon the existing MetaQuotes Software.
MT4 is known for the way it combines an excellent range of features and powerful trading tools with an intuitive and minimalist interface. Traders can quickly execute order types like trailing stops, order cancels orders, and bracket orders, in addition to easy access to place your market orders, stop orders and limit orders and easily view the development of open trades. There is also access to ATC Brokers’ expert support and automated services.
MT4s are also highly customizable, which makes the platform good for both novice traders and seasoned pros. At its most comprehensive, the central window can offer hundreds of metrics for those who prioritize technical analysis. Alternatively, newbie traders who might be confused by the more complex statistics can strip the charting down to the bare essentials.
MT4 has also been optimized for mobile devices and the app can be downloaded on IOS and Android devices. The mobile offering provides seamless trade-execution on the go with a good selection of charting and indicators. Whilst it might not quite have the functionality of the desktop version, MT4 mobile is head and shoulders above many of its competitors when it comes to trading on the move.
As previously noted, the minimum deposit required to open an account is $2,000, which our ATC Brokers review found to be quite high. The platform is also somewhat restrictive with its payments and withdrawals. The options to fund your account are via bank transfer, Visa, UnionPay, Skrill, and Mastercard, with USD and EUR being the only currencies supported. Each has a limit of $10,000 per calendar month.
Transactions carried out via card payments are free, but there are fees associated with withdrawals directly to your bank account: USD Currency withdrawals have a $20 tacked on to the first withdrawal of the month, increasing to $35 for subsequent transactions. Transfers will usually take between 2 – 5 business days, but exact times will depend on your bank’s processing times. Naturally, the banking fees will be off-putting to new traders who would prefer to make regular but smaller withdrawals.
All in all, our ATC Brokers review found the account funding options for ATC brokers were a little limited, however, they are in line with more established brokers who usually restrict payment options to mainstream providers, as you might expect from retailers or other commercial entities.
ATC Brokers offers a fairly comprehensive customer support service, available 24/5 across several channels. ATC Brokers open account holders have the option to get in touch by phone, email or via the webchat function, the latter is manned by staff rather than bots and becomes an email form outside of business hours. All of the contact options are easily found under the “Help Center”. Alternatively, for less urgent or more general queries, the site offers a detailed FAQ section, which deals with queries relating to accounts, the platform and trading in general.
Our ATC Brokers review found that the customer service team responded quickly and specifically. The average time for an email response was within 24 hours and queue times for telephone support were under 5 minutes. The chat function was even more readily available, with an agent available in just a couple of minutes.
ATC Brokers pretty much offers an industry-standard level of customer service and novice traders can rest assured that if they run into problems they will be able to receive quick and effective support. Our ATC Brokers review was, however, unable to ascertain whether support was offered in languages other than English.
Of course, regulation isn’t the only measure of a platform’s trustworthiness. ATC Brokers has been on the forex scene since 2005, so our review delved into the platform’s reputation to help build a better impression of the company.
We found that reviews of ATC Brokers were mostly positive – with the firm particularly well-regarded for the attitude and manner of customer service representatives. There are one or two reports of random service outages, but these seem to have been isolated incidents and at the time of writing ATC Brokers has not experienced any major incidents with regards to security or malpractice.
Regulation and deposit protection is another important area for our ATC Brokers review, as investors will want to know that the platform can be trusted to keep their funds secure.
Being an international provider, ATC Brokers is actually subject to several regulatory bodies. These include the UK’s FCA and the Cayman Islands Monetary Authority. The FCA is a national body that aims to protect consumers with stringent regulations to set high standards and protocols for firms operating in the financial industry.
In the US meanwhile, the ATC Brokers USA is registered as an independent introducing broker with the Commodity Futures Trading Commission and is a member of the National Futures Association. The CFTC and NFA offer consumer protection with their own rules and regulations for firms to conduct their business within the US derivatives industry.
NFA is a self-regulatory organization set up by the CFTC specifically for the US derivatives industry, providing innovative and effective regulatory programs. One stipulation of the NFA is that customer deposits must be held in a customer segregated funds account – this means that the broker cannot use the funds for its own operations and if it were to go under, it will not take customer funds with it.
All things considered, ATC Brokers open account holders can be reasonably confident that their funds are as safe with the platform as they are with any other.
Looking for a good USA alternative broker? Take a look at eToro USA.
Is there an ATC Brokers promotion, or are there any other incentives for account holders? ATC Brokers does not have any pretenses about being a comprehensive investment platform. Instead, what it does offer is a streamlined way for its customers to trade forex, along with the option to invest in gold and silver. Whilst this does mean that ATC open account holders who are looking to trade other instruments may need to use an additional platform, they also benefit from a stripped-down platform that allows for fast trade execution and monitoring.
It should be noted that the USA website offers fewer trading instruments than its UK counterpart – most notable is the absence of CFD listings, which might be off-putting to traders looking for more options. However, we will now take a look at what ATC Brokers do have to offer.
Trading forex – foreign exchange – involves speculating on the price changes between international currencies. The value of currencies is affected by numerous real-world factors and can change quickly. This has made forex a popular trading instrument with day traders who look to capitalize on these frequent fluctuations by making numerous trades day-to-day. Its popularity with traders has made forex the most liquid financial market in the world, with an estimated daily trading volume of over $5 trillion.
Whilst trading forex is becoming ever more popular with improved access to trading platforms and brokers via mobile technology, it should be pointed out that the market is complex and highly speculative. It is therefore important for ATC Brokers USA account holders to ensure they have a firm grasp of how forex trading works before committing funds.
One of the reasons that forex trading is so accessible is that there is no centralized exchange. Forex transactions are carried out peer-to-peer or over-the-counter via a brokerage platform. It’s also important to note that forex is traded 24/7 as different financial markets operate at different times around the world.
Forex is traded in ‘lots’ – with a micro lot consisting of 1,000 units of currency, a mini lot being 10,000 units, and a standard 100,000 units. If you’re a novice trader, you’ll want to focus your attention on mini and micro lots.
Once you are up and running with a broker, you’ll see that currencies are always listed in pairs, as you are trading one for another in a similar way to how you would change currencies at the airport. You can then trade these as options via the ATC Brokers trading platform. It is worth spending some time going through the numerous educational resources and how-to guides on the site before you begin actively trading, as there is a lot to learn when it comes to the forex markets and how to come up with a trading strategy.
ATC Brokers charges a set commission fee for forex trading. The price is set at $1.00 round turn for a mini contract (10,000 lot size) and $10.00 round turn for a standard contract (100,000 lot size). The prices are set for trades using USD as a base currency. If you trade in other currency pairs, the fee you pay will depend on the market conversion rate at the time.
Given that there are many platforms out there offering commission-free trading, some would-be traders might be put off by ATC Brokers set charges. However, whilst ‘commission-free’ may sound more appealing, it should be noted that other platforms will recover their costs through larger spreads. Because ATC Brokers have a set fee, as well as operating on aN ECN basis, the platform offers much lower spreads than its non-fee charging competitors. These spreads average between 0.3 – 0.5 pips on major currency pairs (a pip is a standardized unit representing the change in a currency pair). Adjusted to include the commission fee, these numbers are equivalent to 1.3 – 1.5 pips, which puts ATC Brokers more or less in the middle of the pile when it comes to forex fees.
If you’ve never traded forex before, you might be wondering if an ATC Brokers open account is the right way to go. The answer to this question really depends on your investment goals. Trading with forex carries an inherent risk and also requires closer observation of the markets, as trade frequency will be a lot higher than with, say stocks or even options. Forex traders tend to make numerous transactions that result in a small profit percentage. Due to this, it is common for them to utilize leverage (i.e. funds borrowed from their broker) in order to maximize their returns. With ATC Brokers, leverage is offered at 200:1 for major currency pairs for account sizes below 100,000 and 100:1 for major currency pairs for account sizes above 100,000.
Forex trading is a great way to earn additional income, but it can take a lot of time, patience and discipline to really get to grips with. What’s more, Using leverage carries its own risks, just as it can boost returns on successful trades, so can it increase losses on those that don’t work out. Many novice traders can be somewhat reckless when starting out: trading on instinct or without a strategy, which is a surefire way to lose funds.
ATC Brokers provides a good forex trading service with a competitive fee structure. If you are committed to learning about the intricacies of the market, then trading forex can be very profitable. However, be advised that ATC Brokers requires quite a high minimum deposit, so it is perhaps not the best platform for those who don’t already understand forex.
For other brokers and markets, take a look at both our Ellevest review & eToro review USA resource pages.
ATC Brokers is first and foremost a forex trading broker. However, the platform is also in the process of expanding its offering and now also offers access to the metals market. Trading metals works in a similar way to trading forex, in that you invest in the derivative contract for the price of either gold or silver against the US dollar. Whilst the market is less liquid than that of forex, prices are often in flux due to the numerous uses of both gold and silver and their sensitivity to several other industries.
Whilst the choice of metals is limited at the time of writing, our ATC Brokers review got the impression that the provider is intended to expand its offering to include base metals of aluminium, copper, nickel, lead and zinc in the near future. Trading metals is fairly straightforward and is done in a similar way to forex. Once inside the trading platform you can use the ‘Market’ tab to view the metals options. Once you have made your order choices, you then click on the ‘New Order’ tab and input the relevant details.
ATC Brokers did not offer a detailed price for its metal trading commission, however, it is likely that it fits the precedent set by its forex rates, which were set at $1.00 round turn for a mini contract and $10.00 round turn for a standard contract. The minimum purchase for metals was 0.500 lots, up to a maximum of 500. The average spread for silver is listed as 0.07 and gold at 0.09 which is reasonably low and evens out the fees paid in commission.
The metals market does not offer anywhere near the same level of liquidity than forex. It is unlikely that metals will form a core part of your portfolio, but there are a number of reasons you may wish to consider including them. Metals are usually linked to global economic health and make a good way to diversify your portfolio diversifier. They can also be a good way of hedging for the more savvy investor, as traditionally precious metals are seen as a ‘safe bet’ against inflation and economic as well as political uncertainty.
After taking a thorough look at ATC Brokers, our review team found that the platform has its good points and bad. There is little question over its legitimacy, as it is backed by some of the world’s leading regulatory bodies for financial markets and it has a pretty solid reputation dating back to 2005. The website itself is easy to navigate and ATC users the industry-leading MT4 trading platform, which offers traders everything they need to hit the markets.
It is also obvious that an ATC Brokers open account is somewhat limited. This is especially true for US customers. Whilst in the UK and abroad, ATC offers trading in CFDs, this is not currently offered to American customers – probably down to Uncle Sam’s tighter trading regulations. There is a small number of contracts for trading gold and silver – with potentially more to be added – but ultimately, for US customers ATC is just a forex trading platform. This can have its advantages of course – especially for novice traders who don’t want to be swamped with information right off the bat. However, experienced traders with diverse investment interests will more than likely need another platform. If that platform happens to offer a good forex service, it’s difficult to see why they would need to use ATC.
If you’re looking to break into forex trading though, ATC Brokers is a good opportunity as it offers a no-nonsense, streamlined approach to the market and its commission and fees are fairly competitive. The company also offers a demo account, which is an invaluable opportunity to get to try out the platform and get to know the forex market before investing any real-world funds. Head over to our Gain Capital review for insight into another stellar online broker. Find your perfect broker, check out our other online broker reviews for a detailed low-down.
Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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