Customers can sign up for a commission-free account or such involving commission fees, but offering tighter spread. Otherwise, the trading conditions on both accounts are similar – the same minimum initial deposit required and maximum leverage levels available, no micro lots available for trade.
The Company. Security of Funds
Founded in 2013 by ex-JP Morgan Lawyer David Andrews, Atom8 is a London-based ECN broker, which provides spread betting, FX and CFDs via both its proprietary platform and the popular MT4. The financial instruments covered include more than 52 currency pairs and metals.
Atom8 Financial Services LLP
Atom8 is a trading name of Atom8 Financial Services LLP, which was acquired by Australian Vantage Global Prime Group in October 2017, which operates Vantage FX brokerage brand. The UK-based company authorised and regulated by the Financial Conduct Authority (FCA).
FCA regulation its renown for the strict rules and supervision it applies. To acquire a license from the UK financial watchdog, brokers have to provide proof of financial stability and to meet numerous requirements. For example, clients` funds shall be kept in segregated bank accounts and according to Atom8’s website Client funds are held in segregated accounts with Barclays Corporate Bank.
Furthermore, UK-based brokerages must hold a minimum of €730 000 in order to prove their financial stability. Similar minimum capital requirements apply in other jurisdictions: Cyprus-based brokerages are obliged to hold € 1 million and Australian ones are required to possess at least $ 1 million.
Regulation by FCA also involves additional guarantee to clients’ funds, since they fall under the Financial Services Compensation Scheme (FSCS). FSCS is the UK’s compensation fund of last resort for customers of regulated firms, where the maximum compensation cover is £50,000 per person in the event that a broker becomes insolvent or ceases trading.
As regards Atom8`s liquidity providers, the broker is a white label partner of Swiss banking license holder and FX broker Dukascopy, and as such is granted access to the top-tier liquidity and data feed as those the Swiss bank itself uses.
Average Spreads & Commissions
Atom8 offers relatively competitive variable spreads, starting from 0.6 pips on the commission-free accounts and from 0.3 pips on the commission based ones, incurring fees from £1.50 per 100k.
You may look up real-time spreads of 15 leading brokers here.
The maximum leverage rate offered by Atom8 is 1:200 , which is an average rate for the forex market. Nevertheless, many brokers provide even higher levels (1:500 and more) in order to tempt traders by the opportunity of making striking profits on a small deposit. The reverse, however, is also true – the higher the leverage, the higher the risk of losses in excess of deposited funds.
The broker supports a variety of trading platforms: several proprietary platforms – Atom8 Trader, Atom8 Trader Pro + mobile Atom8 FX app – and Metatrader 4.
Atom8 Trader and Atom8 Trader Pro share similar main functionalities and interface and are equipped with essential technical analysis and market research tools. Atom8 Trader is optimised for manual trading and is simple to use, while Atom8 Trader Pro is optimised for automated and chart trading and also provides an algorithmic toolkit allowing institutional and private traders to interact in the same market.
Atom8 Trader Pro is a trading platform which has fully integrated Chart pattern recognition software and users are able to trade from, manage and track positions directly from charts.
What is more, there is a web version of the Atom8 Trader, called Atom8 Web Trader for those who are not willing to download and install software.
In addition, when trading with Atom8, you can also use the popular Metatrader 4 (desktop and mobile versions available). This trading platform allows clients to download ready-made or create their own automated trading strategies (EA) and let the program do all the work. What is more, it offers a number of technical indicators, extensive back-testing environment and advanced charting package.
You may look up more forex brokers offering MT4 platform.
Methods of Payment
Atom8 offers its clients the following ways to deposit/withdraw their funds: bank wire, cheques and debit/credit cards. Unlike most brokers, Atom8 doesn`t offer e-wallet payment systems.
The accepted currencies are GBP, USD, EUR, AUD and JPY.
Atom8 is a FCA-regulated technology-focused broker which places an emphasis on automation. Considering the ECN environment and the large initial deposit the it requires, we presume that it is mostly targeted at professional traders.
Atom8 Review Conclusion
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