Let’s have a look at ArgusFX and see why this broker vanished. Usually, regulated brokers are here to last, so once we see them gone, we cannot help but question why.
Our in-depth ArgusFX review will help you answer this and many more questions. We’re aiming to help those looking for information and justice.
But firstly, we want to invite you to read our recently updated Thunder Markets, NordFX and SGT Markets broker reviews.
| Broker Status: | Regulated Broker |
| Broker Regulation: | CySEC |
| Known Broker Sites: | Argusfx.com (inactive) |
| Operating Status: | Active Forex trading platform |
| Complaints From Regulators: | N/A |
| Broker Owner: | ArgusFX Ltd / Acier FX Ltd |
| Headquarters Country: | Cyprus |
| Foundation Year: | 2017 |
| Trading Platforms: | MT4 |
| Mobile Trading: | Available |
| Minimum Deposit: | No minimum |
| Deposit Bonus: | N/A |
| Crypto Trading: | Not Available |
| CFD Trading: | Yes, you can trade CFDs |
| Trading Instruments: | Forex, commodities, indices, stocks, futures |
| Maximum Leverage: | 1:500 |
| Islamic Account: | Available |
| Demo Account: | Yes |
| Accepts US Clients: | US traders are not accepted |
| Global Fraud Protection Team: | Be careful when investing with this firm |
Is ArgusFX a Legitimate Forex Brokerage?
Currently, ArgusFX doesn’t exist. The domain was disabled in 2022, leaving customers to search for alternative ways to get payouts.
However, while active, the brand was owned by ArgusFX Ltd, who then changed their name to Acier FX Ltd. Today, the company operates as Eight Plus Capital Ltd, owning two brands – Finame and EightPlus.
In summary, while operating, ArgusFX regulation was with the Cypriot regulator, CySEC. Yet, we’ve seen some unusual trading conditions. Namely, the company offered leverage up to 1:500, while according to the ESMA directive from 2019, there was a limit of 1:30 for FX pairs and 1:2 for crypto assets.
CySEC belongs to a Tier 2 zone of regulatory bodies due to the fact brokers under this license frequently disobey the rules. Mainly, the authorities only penalized the firm monetarily without any other consequences. Yet, under this license, customers are entitled to use compensation funds of up to 20,000 EUR per account.
If you have more details about the brokerage, we’d be glad if you shared them with us.
ArgusFX was a brand of ArgusFX Ltd, registered in Cyprus under the CySEC umbrella. However, the domain is currently inactive, and the owner operates as Eight Plus Capital Ltd.
Where Does ArgusFX Operate?
According to our detailed analysis, ArgusFX was active from 2017 until 2022. In this period, the company was mainly involved in the following countries:
- Cyprus,
- Vietnam,
- Netherlands,
- Greece,
- UK.
While EU countries are not surprising, others have their own respective regulators. Since ArgusFX broker wasn’t under their supervision, we’re unsure how legal the broker’s activities were.
What Trading Platforms Are Available?
The ArgusFX trading platform is quite decent as it suits a regulated broker. The trading intermediary offers MT4, one of the best software on the market. It’s a product of MetaQuotes Ltd, released in 2005.
The platform has a customizable interface and supports an extensive range of TAs, social trading, EAs, and much more. You can test various trading strategies on MetaTrader 4, which is why the software has over 16 million downloads.
Along with its successor, MT5, MetaTrader is the preferred choice of over 50% of retail traders such as yourself. As a third-party software, it provides increased safety compared to basic web-based platforms.
ArgusFX Mobile App – Can I Download It?
One great perk of working with renowned platforms like MetaTrader and cTrader is their compatibility with various devices. MT4 is compatible with both Android and iOS. However, Apple banned MT in September 2022, meaning that it’s currently not possible to download or update the app.
What Can You Trade With a Broker? – Trading Instruments
Before going into available trading assets, we must mention one big drawback. ArgusFX doesn’t support crypto trading. In today’s trading climate, where everyone is looking to exploit the advantages of digital coins, we see it as a significant disadvantage.
Now, let’s move on to what’s available:
- Currency pairs – EUR/USD, AUD/CAD, AUD/SEK
- Commodities – gold, silver, palladium
- Indices – AU200, DAX30, IBEX35
- Shares – Amazon, Alibaba, BMW
- Futures – crude oil, gold, Netflix
Fees and Spreads Overview
Let’s look at different fees offered with different ArgusFX account types. For the Standard one, the spread starts at 0.7 pips, while for the Pro account, it’s 0.0 pips. However, there are various commissions associated with this account type that you should consider before making a decision.
ArgusFX Demo Account – Can I Trade For Free?
This trading brokerage has no minimum deposit requirements for a Standard account. Therefore, we have access to an ArgusFX Demo free of charge. It’s a good opportunity for trading newbies and even seasoned investors to practice their trading strategies.
However, remember that investing in real funds differs from investing in virtual money. Risks change when you can actually lose cash out of your pocket. Exercise caution and keep in mind that you should simulate the Live account as closely as possible.
How to Withdraw Your Profit From an ArgusFX Account?
Here’s a list of available payment methods for ArgusFX withdrawal:
- Debit/credit card – 1.8%
- Wire transfer – 5-15 EUR/USD
- E-wallets
This is another atypical thing. Usually, brokers compete for customers by waiving deposit and withdrawal fees, while ArgusFX will charge you some hefty ones.
Since the website is inactive, you’ll find many online reviews from people mentioning that they cannot get their money back and broker support is simply ignoring them.
I Have Issues With ArgusFX Withdrawal, What to Do?
In case you’re one of those who cannot get their balance out of their ArgusFX account, the first step is to contact the authorities. You can also dispute a transaction within 540 days after it occurred.
If you feel like this is a daunting task, Global Fraud Protection is here to assist. Don’t hesitate to reach out! We’re here to evaluate your case during a free consultation and help with the matter.
FAQ Section:
Is ArgusFX a Legit Broker, and Should I Invest In It?
ArgusFX is a CySEC-regulated broker that’s currently inactive. We may be able to assist you in case of any potential withdrawal problems.
Can I Trade Crypto and CFDs With ArgusFX Broker?
ArgusFX doesn’t offer crypto trading but provides CFDs on commodities, stocks, indices, and futures.
Does ArgusFX Have a Mobile Trading App?
Yes, ArgusFX offers MT4 coming along with a dedicated mobile app for Android and iOS.
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