ATC Brokers Review

Trust Score
3.0

Min Deposit

$3000 (US) $5000 (UK)


Leverage

50:1


Deposit Bonus

NA

Regulation

  • FCA

  • CFTC

  • NFA

Platform

  • MT4

ATC brokers is an online brokerage firm has its roots in the USA. The company has two divisions; the UK and the US. The US division is an introducing broker while the UK division offers a full range of FX and CFDs derivatives trading. Though the company made an early bird presence in the FX and CFD industry, it has remained laid back and has very little exposure online. Its services and product are excellent, ranging from the customer support, their advanced trading platform, their ECN model and much more.

Introduction

ATC Brokers was established in 2005. The company has its headquarters in California, US, even though it has an operating unit in UK trading under the legal name ATC BROKERS LTD. The UK office was opened in 2014. In these two jurisdictions, ATC broker is regulated by the financial watchdogs of those jurisdictions. In the UK, it is regulated by the Financial Conduct Authority (FCA) under license number FRN 591361. In the United States, it is regulated by the National Futures Association (NFA) and listed as introducing broker with the Commodity Futures Trading Commission (CFTC).

ATC brokers UK website is accessible in two languages; English and Chinese, for the US version it is only English. The website is properly arranged with five menus on the top section of the website and an additional menu with submenus on the bottom of the section. The website limitation is that there isn’t a search button for easier search of information. Its website has no information as to the awards it has received which make the broker services skeptical considering some new entrants brokers are already receiving industry awards.

ATC Brokers Products

ATC brokers offer the following trading instruments; forex pairs, Contract for differences (CFD) and metals. There are a total of 38 currency pairs which consists of major pairs, minor pairs and exotic pairs. There are 10 CFD which represent shares, futures, and indices. There are only tradable metals; gold and silver. The company doesn’t offer cryptocurrencies and options.

ATC Brokers Trading Conditions

ATC trading platform; Meta Trader 4 is a robust trading platform that is reliable and has a low latency. The platform isn’t affected by news, with a stable internet connection; you will hardly experience any fluctuation in the ping speeds of MT4. The maximum leverage offered is 1:50 which is relatively low considering other brokers offer a leverage of 1:1000. You will receive a margin call when your margin reaches 120%.

ATC Brokers Account Types

ATC brokers have two types of accounts; individual account and a Joint/company account. As the name suggests, the individual account fits a single trader while a joint account suits a group of traders or a company. However, under these two cadres, they all operate under one account where all orders are executed. There is no VIP account or Islamic account. The accounts have the same treatment in terms of the amount required to be deposited, spreads and other features. This puts a limitation to inexperienced traders who would want to try out trading using smaller amounts. However, ATC brokers offer a demo account where traders can practice using virtual funds.

ATC Brokers Commissions & Fees

ATC brokers have two types of accounts individual account and Joint/company account. The accounts accept micro lots, 0.1 lots and standard lots. The minimum lot size you can trade is $0.05(5,000 lots) and the accounts have no maximum trade size.

ATC brokerage model is the non-dealing desk; hence it’s an ECN broker. The spreads are variable and will keep fluctuating depending on the volatility of the assets.  During volatile time such as announcement of GDP and interest rate the spreads increase. ATC brokers charge a commission of $1 for 10,000 lot size and $10 for standard lots.

ATC Brokers Platforms and Tools

ATC brokers use Meta Trader 4(MT4) as its sole trading platform. MT4 is a prominent trading platform that is used widely and almost every broker offers it to its users. The trading platform is free to use and is compatible with all computer operating systems. MT4 is known to be a reliable trading platform with no downtimes and a full range of technical analysis tools and news feed for fundamental data. There are 31 charting tools and 51 charting indicators. MT4 support integration of Expert Advisor and bot for automated trading. The easy to use nature of MT4 makes it a preferred trading platform by many traders. Experienced and novice traders would comfortably use MT4 without much trouble. There are a lot of videos and guides available on the internet on how to use MT4; furthermore, the platform itself has a nice interface, menus and shortcuts. The platform is accessible in 37 different languages.

Besides the standard MT4 that is common amongst many brokers, ATC brokers offer MT4 Pro which is the ordinary Mt4 but with an additional pug in. The result is a superior trading platform function over and above the standard MT4. MT4 Pro has customized trading functions such as reverse all open positions, close all open positions, customize strategy orders and much more. It doesn’t stop there, MT4 Pro gather your account data to give you personalized reports such as time analysis, performance, profit and loss, and winners and losers report.

Is ATC Brokers Mobile Friendly?

ATC brokers mobile website varies according to the division. While the differences might seem little, the mobile browsing of the website is different between the two divisions. ATC brokers US has a friendlier mobile website which replicates the web version. Information such as legal information and customer support link are readily available on the mobile website front page. The UK version has a different look from the US and information is only accessible after clicking on the menus. The UK mobile site has six menus while US mobile website has four menus. Apart from the two noticeable differences, all other features are good.

Traders who prefer to trade using their phones, track open position or check market direction can comfortable do that using the mobile version of the MT4. The mobile Meta Trader works well on both iOS and Android devices. Charting using the mobile MT4 isn’t any different from the desktop version; all tools available on the desktop are available on mobile. For a better experience on the mobile version, a mobile device with a bigger screen such as iPad or tablet would offer a better experience.

 ATC brokers don’t have a mobile app. This is a serious drawback from this broker considering the number of years the broker has been operational.

ATC Brokers Promotions

Unfortunately, ATC brokers don’t have any bonus or promotions.

ATC Brokers Deposits & Withdrawals

ATC brokers have different payment methods across its two business divisions. ATC brokers accepts bank wire, ACH and debit card as payment methods. ATC brokers UK accepts; Bank wire, Visa, Union Pay, Skrill and MasterCard as options for deposit and withdrawals. Using any of the options, you can make a deposit using GBP, USD and EUR. You can still make payment using any other currency, however, it will be subject to conversion and you may realize FX loss.

The minimum deposit amount varies with the division. The UK division has the initial minimum deposit at USD 5,000 while for the US division has an initial minimum deposit of USD 3,000. There is no minimum deposit limit for subsequent deposits. The charges of sending the amounts vary with the payment processing company. It is free to make deposits using bank wire method. Skrill, Visa, and MasterCard attract a 2.9% commission charges on deposits. Withdrawals attract a fee too with Skrill having a 1% transaction fee; and international wire has a varying rate, GBP, EUR and USD have a £25, €30 and $40 respectively. For faster withdrawals, UK residents may opt for an additional £10. Visa and MasterCard have zero withdrawal fees.

Besides the payment transaction charges, ATC brokers charge a dormancy fee for an account that has had completed trades for a continuous period of 6 months. The fee is the lesser of 50 units of account currency or the account balance.

The payment methods have a varied processing time. E-wallets have instant processing time for deposits, Visa and MasterCard have a lag time of 10 minutes, bank wire has a lag time of 2-4 business days. Withdrawal takes an extra time, for instance, e-wallets have transactions are processed within the same day similar to card transactions. Bank wire has a lag of 2-4 business days.

The information provided by ATC brokers on their website about their deposit and withdrawals is accurate and there isn’t any discrepancy about their transaction. This has made traders know early in advance of what to expect. This has saved them from complaints and backlash about payment that other brokers have witnessed.

ATC Brokers Customer Support

You can contact ATC brokers customer support via the following channels; live chat, e-mail support ([email protected]) and phone support (1.877.654.8400 for US and +44 20 3318 1399 for UK). The customer service representatives are available on a 24/5 basis. The customer support is available to all customers regardless of the account type. New visitors to the website and prospective clients can also engage the team for any inquiry. The customer service representatives are prompt to respond to customer requests and there are no queues and are very knowledgeable on ATC brokers products and the FX industry.

Besides the above contract options, you can get help by visiting ATC brokers frequently asked questions(FAQ) and you will get detailed answers to most issues customers face. There is a fill out form that you can raise your issues and leave a contact address and phone number.

The live chat is easily accessible from the website. To get to live chat, you need to scroll down to the bottom section of the website and you will locate the live chat icon. The live chat is hidden unlike with other brokers’ websites where there’s a link for the live chat at the top section of the website. At the bottom section, there is a fixed tab that remains static even while scrolling the website. This makes contact with the support team hustle free.

The contact options vary in the response time. While options such as live chat and phone support are instant, email support may take a while. However, you will get you queries answered before two business days. Customer support is available in English and Chinese.

The customer support options are adequate and match the industry standards. The representatives are polite and prompt to get customers solutions to their problem. ATC brokers customer support deserves credit.

ATC Brokers Research and Education

ATC brokers has done very little on education. Apart from the FAQ which seems to have information that would help traders, there is no any other education material. You would expect from such as experienced forex broker a detailed education segment on their website about money management, risk management and other aspects of forex trading but that isn’t there. There are no seminars, webinars or tutorials on the website. There is a blog section on the website, though it isn’t even updated, as at writing this review in September 2018, the last blog update was June 2018.

The education material is scanty and ATC broker needs to get to speed to get the education material updated. Even with the little information on the website, a newbie trader will not get any better at trading relying on the material on the website.

Noteworthy Points to mention for ATC Brokers

ATC broker has a limited offer to their customers, their education section is scanty, no VPS connection, no bonus or signals. However, traders can follow up the economic calendar on ATC broker website.

ATC reputation on the market is lukewarm. They haven’t received any bad reviews or good ones. A correct assumption is that the broker has had little exposure and probably few clients. Some of their information is not available on their website which makes some of the company services questionable.

Conclusion for ATC Brokers

ATC brokers is an experienced trader that has been in the spread betting industry for 13 years. The company range of products is average considering the experience they have had in the industry. They need to re-engineer their products such as account types, trading platform and so on.

ATC brokers is best fit for traders who have high capital and would like to trade using a low leverage. Other aspects of the broker are fine since it has regulation for two of their regulations they operate.

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