ATFX Global belongs to the category of financial services companies and describes itself on the company website as a provider of online trading with a focus on trading contracts for difference. Moreover, ATFX Global offers trading in various assets, including commodities and foreign exchange.
However, the Financial Supervisory Authority of Austria warns in the context of ATFX Global. For ATFX Global ‘s current online trading clientele or for those who are considering investing funds in the foreseeable future, the following questions are certainly weighty: What can ATFX Global clients possibly do in the event of losses?
Does ATFX Global have a licence from a European government financial regulator? What has been the experience of other investors with ATFX Global so far? Our lawyers have looked into these questions and have prepared the answers in this article on ATFX Global.
Table of contents
- ATFX Global Experience
- ATFX Global Website
- Contact details of ATFX Global
- ATFX Global Licence
- Alerts from regulators about ATFX Global
- Online trading tips
- Lawyers advise on disputes
In addition to the question of whether ATFX Global is a serious offer, it is important to deal with the basics for successful trading. Our lawyers will also explain how ATFX Global compares to other investment opportunities. In addition, we will assist investors with detailed questions and difficulties related to ATFX Global.
ATFX Global Experience
The ATFX Global website states that the company wants to create the best trading environment for its clients so that they can trade successfully. This is because they want to make it possible for everyone to trade online at any time and from any place.
Moreover, ATFX Global provides its customers with quick and easy access to the financial markets. According to ATFX Global, one can use a number of different tools that the company makes available to its customers.
ATFX Global also offers advanced technology and training opportunities. Furthermore, the ATFX Global website provides information on the various financial instruments that can be traded on the provider’s platform:
- CFD Trading,
- Forex Trading,
However, it is not clear on the ATFX Global website whether one can choose from different account types for online trading and whether there are corresponding minimum deposit amounts with this provider.
ATFX Global on the net
The offer of the company ATFX Global can be reached via the German website atfxglobal.info/web.
In the Federal Republic of Germany, according to §5 of the German Telemedia Act (TMG), there are general information obligations and mandatory details for the imprint. Thus, this obligation for “provider identification” exists for all commercially operated websites.
This is because this information is intended to inform the user of a website who he or she is dealing with. Last but not least, the postal address of the website owner plays a role in this context if legal claims are to be enforced against him.
Also relevant in this context is the fact that keeping an imprint also applies to foreign providers who develop their business activities in this country. At the time of November 2021, no legally binding imprint could be found on the ATFX Global website.
Various companies put their many years of practical experience on the line in order to pretend respectability. However, such statements are regularly contradicted by the date on which the domain was registered. Consequently, it is necessary to check who owns the domain and when the domain was registered.
On 25.11.21, our lawyers determined the information on ATFX Global with the following result: Domain Name: atfxglobal.info Registry domain ID: 6ae7a02347394cc9b7f15cb19fc35114-DONUTS Registrar WHOIS Server: whois.namecheap.com
Registrar URL: https://www.namecheap.com/ Updated Date: 2021-11-08T11:09:09Z Creation Date: 2021-10-21T17:05:39Z Registry Expiry Date: 2022-10-21T17:05:39Z Registrar: NameCheap, Inc.
According to §6 of the German Media State Treaty (MDStV), the name of the person responsible for the content of the website must be indicated in the imprint. This is usually a member of the company’s management board. Disclosing the names of the responsible persons is not only obligatory, but also a sign of transparency.
No information on responsible persons could be found on the website of ATFX Global in November 2021.
Operating company and trademark
The name of the website or the trading platform or the offer is not always congruent with the operating company. In the past, it was not uncommon for operators to operate with many different trademarks at the same time.
On top of that, it is common practice for certain operators to remove the websites of discredited trademarks and return to the market some time later with a different trademark. Therefore, when researching news and information about a provider beyond the trademark, one is well advised to always include the operating company.
The respective information can be found either in the imprint or often also in the footer of an online presence. In the footer of the website one learns that ATFX Global is the trademark of ATFX Global Markets (CY) Ltd.
ATFX Global contact details
At the time of writing, the following information was available on the ATFX Global website:
- ATFX Global telephone number: 0044 20 37690724
- E-mail contact to ATFX Global: n. A.
- Postal addresses of ATFX Global:
- 32 Cornhill, London EC3V 3SG
- 70 route d’Esch, L-1470 Luxembourg BP 637
- Langelinie Allé 31, 2100 Copenhagen, Denmark
ATFX Global authorisation
The existence of a valid authorisation from a European state financial supervisory authority can be an important criterion for determining whether a service provider is trustworthy. This is because the issuing of a licence requires a considerable financial effort on the part of the provider.
However, it does not necessarily have to be a scam if a broker does not make statements about its authorisation or its own regulatory status. The following financial regulators, among others, are responsible for granting licences and supervising financial service providers such as ATFX Global:
- FI, Sweden (Finansinspektionen)
- FINMA, Switzerland (Swiss Financial Market Supervisory Authority)
- CMVM, Portugal (Comissao do Mercado de Valores Mobiliarios)
- BaFin, Germany (Federal Financial Supervisory Authority)
ATFX Global’s website has some indication of regulatory approval by the Cyprus Financial Supervisory Authority in November 2021. However, according to the financial supervisory authority of Austria, the website atfxglobal.info is a clone of an officially authorised provider.
Interested investors can discuss what this means in an exchange with a lawyer from our law firm.
ATFX Global – the Financial Supervisory Authority of Austria warns investors
On 12 November 2021, the Financial Market Authority of Austria (FMA) issued an investor warning on ATFX Global. This was because the provider was not authorised to provide securities services subject to licensing in Austria.
Therefore, the provider is not allowed to provide commercial investment advice in relation to financial instruments. Furthermore, the FMA warns against the risk of confusion with supervised providers.
Before trading at ATFX Global and others – online trading tips
Online trading, as with ATFX Global, is the extension of traditional trading in financial instruments to the internet. Here, as there, investors act with the intention of generating surpluses through the purchase and sale of assets. Trading is no longer limited to securities. In fact, traders also have these assets at their disposal, for example:
- Money market funds
- Forex Trading
- CFD Trading
- Real Estate
- Crypto Trading with Bitcoins and Altcoins, for example Ripple
- listed index funds
Online trading is handled through intermediaries such as online brokers (like ATFX Global) or banking houses that provide their clients with special trading computer software. It is mainly the far-reaching technological developments that have made online trading time-saving and convenient, and therefore as recognised as it is popular.
Advantages of online trading
Digitalisation has also had a considerable impact on the world of finance, especially in relation to trading such as at ATFX Global. This is because the technological possibilities have greatly increased the efficiency of trading in particular.
Whereas investors and traders used to have to place their orders by phone, fax or post, today they can do so with a click of the mouse and at a fraction of the cost.
Criteria such as length and type of trade, prices and quantities or account details can be clarified today without a personal conversation between a provider like ATFX Global and its customer. Consequently, the opportunity to trade online has created numerous conveniences:
- Transaction costs have dropped rapidly because individual telephone support is no longer required.
- The range of tradable financial instruments is broader and deeper.
- The possibility of losses due to gaps is reduced.
- The speed at which trades are processed has increased noticeably.
- The trading platform executes the booked orders, you only need an internet connection.
- Learning materials for online trading, knowledge pools, analyses or trading courses are often offered out of the box.
- Profits can also be achieved with a low stake.
- Online traders have a lot of tools and various indicators at their disposal.
- Many tools can be used automatically and directly.
Incidentally, there are not only plus points in online trading with regard to the uncomplicated use of the trading platform. Above all, due to the analysis options, indicators and the various tools, the investor enjoys significantly more comfort.
The times when you had to draw your own chart diagrams or make your own calculations are over. Nowadays, online traders find an extensive range of order types in their system, which they execute themselves within the framework of day trading with their favourite broker of choice.
Individual trading plan
Due to the fact that there are several order types, online traders can adapt their trading plan individually to their requirements and make various configurations: Buy entries:
- Buy Stop Orders: You buy above the current market price
- Buy Market Orders: Buy at the current market price
- Buy Limit Orders: Buy below the current market price
- Sell Market Orders: One sells at the current market price
- Sell Stop Orders: Sell above the current market price
- Sell Limit Orders: Selling below the current market price
- Trailing Stop Orders: Stop loss shift depending on the development of the price
- Stop Loss: Exit with a loss when the pre-set price is reached
- Take Profit: Exit with a profit when the price set in advance is reached
Another positive aspect of online trading from the investor’s point of view is the absence of restrictions. Accordingly, you are free to choose your trading strategy and learn your own trading style. There are different approaches:
- Swing trading – highly speculative use of fluctuating prices
- Intraday trading – opening and closing positions within one trading day
- Automatic trading with robots (“Expert Advisors”)
- Continuous trading
- Scalping: offensive, short-term trading in short time intervals
A large number of these trading styles made online trading possible in the first place by eliminating telephone exchanges with the broker. Accordingly, one can speak of a trading revolution that builds a bridge between countless private investors from all over the world and the global financial markets.
Private investors should check very carefully whether the provider ATFX Global offers these advantages.
The risks of online trading
Where there is light, there is also shadow, this statement also applies to online trading. Consequently, in addition to the advantages, there are also a number of disadvantages that interested investors should integrate into their considerations:
- If you make the wrong decisions, you have to expect high losses.
- Compared to classical trading, scalping is rather hectic.
- Private investors should keep a constant eye on price trends.
- Investors should already be experienced in trading and rely on reliable strategies.
- The existence of fraudulent trading portals has led to enormous risks of loss.
In particular, risky day trading is not appropriate for investors who are dealing with the subject area of trading for the first time. This is because the risk of incorrectly predicting price developments is immense, and because of the time pressure it is difficult to make adjustments.
Consequently, this form of trading is recommended for particularly experienced or risk-averse private investors. If you belong to this group, day trading is a way to generate results quickly. In addition, one benefits from the elimination of fees for overnight positions, for example.
Finally, such financing costs should also be included in the overall consideration of an investment. In addition, one saves oneself the proverbial rude awakening in the morning, should there be rapid and drastic price changes. Such “gaps” quickly arise due to unfavourable reporting about a company.
On the other hand, one quickly sees the success in case one can report a surplus at the end of a trading day. Otherwise, it is important for day traders to compare the trading fees of the individual online brokers. It can pay off to opt for a flat rate in the form of an all-inclusive amount.
This is particularly worthwhile as soon as you trade with a higher frequency and separate order fees would significantly reduce your profit.
Understanding the risks
In order not to unnecessarily increase the risks and dangers of online trading, you should question which financial provider you want to use to trade on the markets. From the experience of our law firm, some questions have emerged that can help one identify any risks. Applied to the example of ATFX Global, these would be as follows:
- Did the contact with ATFX Global come about through an unsolicited phone call?
- Is ATFX Global controlled by a European financial regulator and is the provider subject to official supervision?
- Does ATFX Global guarantee exceptionally high surpluses and conceal or downplay the dangers?
- Are there any warnings from lawyers or law firms that support clients who have suffered losses in connection with ATFX Global?
- Can one find reports on the experiences of other investors, what is the prevailing opinion in forums?
- Is it possible to find official warnings about ATFX Global?
- Is there an imprint on the ATFX Global website and can credible information on the provider’s place of business be found?
How to react in case of losses
As soon as you suspect that you have been defrauded, it is advisable to immediately stop any additional payments. This applies in particular to the circumstance that the provider suggests additional payments to make up for deficits. Moreover, one should try to recover the lost capital.
In this context, affected persons can seek investor protection and contact the lawyers of our law firm. We check civil law as well as criminal law possibilities and possible claims for damages against the financial provider and against involved payment service providers such as banks.
“It is far from being an exceptional case when a private investor loses money in the course of online trading. Many private investors are fooled by the professional appearance of the providers and do not realise in time that they are not responsible for their losses.”
Our advice is therefore not to despair, but to react quickly and energetically. Because the chance of recovering the lost capital is usually greater than the aggrieved investors suspect. Would you like to talk to one of our lawyers about ATFX Global? Then you can go straight to our contact area here.