ArgusFX Forex Broker

Note: ArgusFX's official website: https://www.argusfx.com/ is currently inaccessible normally. ArgusFX Review SummaryFounded2000Registered Country/RegionCyprusRegulationCySEC (Suspicous clone)Products & ServicesCFDs, Spot Metals, Forex, Futures, and StocksDemo Account✅SpreadFrom 1.8 pips (Standard STP account)LeverageUp to 1:30 (retail)/1:500 (professional)Trading PlatformMT4Min Deposit$0Customer SupportLive chatTel: +35722222804, +35722222806, 496924749140, +357 22222806Email: support@argusfx.comSocial media: Twitter, FacebookAddress: Athallasas 62, Strovolos, 3rd Floor, Office 301, 2012, Nicosia, CyprusRestricted RegionsUSA, Iran, Cuba, Sudan, Syria, North Korea, Belgium, Canada and JapanArgusFX Information ArgusFX was established in 2000 and offers trading services in CFDs, Spot Metals, Forex, Futures, and Stocks. It offers a demo account for testing and no minimum deposit requirement to open a live account. One of their selling points is the usage of the renowned MT4 platform, which surely will significantly enhance customer experience. However, the broker's website is currently inaccessible, leaving the public uncertain about its operational status. What's worse, the broker holds a suspicious fake clone CYSEC license, meaning it might disguise as another company to lure customers to trade with them. These are warning signals that you should not neglect about this broker.Regulatory Status ArgusFX claims to be regulated by CySEC (Cyprus Securities and Exchange Commission) with licenses numbering at 334/17. However, the license is suspected to be fake clone, meaning that the broker might conduct some fraudulent activities in the name of other regulated entity to attract customers. You should be extremely prudent about this.Regulated CountryRegulatorCurrent StatusRegulated EntityLicense TypeLicense NumberCySECSuspicious CloneEight Plus Capital LtdStraight Through Processing (STP)334/17Downsides of ArgusFX Unavailable website: ArgusFX's website cannot be opened currently, which indicates possibility of cease of operation. Regulatory concerns: The broker holds a suspected fake clone CYSEC license, meanig that it does not comply to financial rules and customer protection requested by the institution. This heightens trading risks with them. Commissions charged in the Pro STP account: The broker charges a relatively high commission of $5-15 per lot for trading in the Pro STP account, which will raise clients' trading costs and eat up their profits.What Can I Trade on ArgusFX? ArgusFX advertises that it offers a variety of market instruments for trading. These include: CFDs (Contracts for Difference): Allow traders to speculate on price movements of assets without owning them. Spot Metals: Commodities like gold and silver traded for immediate delivery at current market prices. Forex (Foreign Exchange): Involves the exchange of currencies in a global decentralized market. Futures: Obligate the purchase or sale of an asset at a predetermined price and date in the future. Stocks: Represent ownership in a company, giving shareholders potential dividends and voting rights.Tradable Instruments Supported Forex✔CFDs✔Spot metals✔Stocks✔Futures✔Commodities❌Indices❌Cryptocurrencies❌Bonds❌Options❌ETFs❌Account Type/Fees ArgusFX offers a demo account so investors can practice and get familiar with the company's trading conditions and offerings before committing real money. For live accounts, there are two options to choose from basing on your preference. First comes the commission-free Standard STP account with no minimum deposit requirement. Spread in this account is from 1.8 pips. While moving up, you can try a Pro STP account with a higher minimum deposit of $200, but you will enjoy tighter spread from 0.3 pips. However, a commission of $15 per round lot will be charged for deposit below $2000 or equivalent. If you deposit more than $2000 and below $20000, the commission will be discounted at $20 per lot. A much lower commission at $5 will be applicable for deposits more than $20000. Pro STP account is more suitable for experienced traders who have a deeper understanding of the market.Account TypeMinimum DepositSpreadCommission (per round lot)Standard STP $0From 1.8 pips❌Pro STP $200From 0.3 pips$15 (for deposit below $2 000)$20 (for deposit between $2 000 and $19 999)$5 (for deposit above $20 000)Leverage ArgusFX offers leverage up to 1:500, which allows investors to control a position of 500 times of their initial deposits. However, you should be very prudent to use such tool since leverage not only amplify profits, but losses will be augmented at same level as well.Trading Platform ArgusFX offers the industry-leading MetaTrader4 platform, which is widely used around the globe. You can access the charting tools, analysis resources and automated trade execution through the platform.Deposit & Withdrawal ArgusFX accepts seveal payment methods: credit/debit cards, bank wire transfer and e-wallet payment systems Skrill, Neteller, Qiwi, Sofort, China UnionPay, Yandex Money, WebMoney. And the broker does not charge any fees for deposits or withdrawals. Deposits and transactions are in 3 base currencies: USD, EUR, PLN.