Market Cap:
$295B
BTC Dominance:
65.33%
btc:
$10774.00
eth:
$228.60
xrp:
$0.33
Advertise
5/10
Overall Rating

Eagle Global Markets

Eagle Global Markets (EGM) is a forex broker that targets mainly on Nigerian investors. Established back in 2016 and registered in Lagos, Nigeria under a trading name of Eagle GM Limited. It offers several accounts, available on two trading platforms: the widely used MetaTrader 4 (MT4) and web-based Cloudtrade platform. Is Eagle Global Markets scam or reliable? Give your rating in the section below. This is a free directory listing of Nigerian Forex broker Eagle Global markets. Therefore, the information about the EGM review is limited.

Overview

Company
5/10
Trust
5/10
Trading Platform
5/10
Account Types
5/10
Cryptocurrency
5/10
Costs
5/10
Customer Support
5/10
Regulation
5/10

Based on our readers-first policy, putting their safety as a priority in our business line, we, as AtoZ Markets, scrutinize not only the broad headline with which a brokerage platform identifies itself, but even the smallest details about it.

This comes from our belief in values in the first place, and the must-have truth and transparency in what we publish on our website, en route of keeping the trust our readers put in us, which of course has contributed much to our name and stands behind its continuous ascendance.

For the above mentioned, we stand on our toes checking all the ins and outs in a broker’s business history, biography and reputation, when it comes to presenting our audience with an overview about a brokerage firm. In this review, we will dive in depth of Eagle Global Markets (EGM). 

Company

5/10

Eagle Global Markets is a trading name of Eagle GM Limited, a company registered in Nigeria with RC 1322866 at address Floor 4, The Bureau, 28 Raymond Njoku Street, S.W. Ikoyi, Lagos. Eagle Global Markets (EGM) is a Forex Broker offering Forex trading services via MT4 and CloudTrade trading platforms. Regarding orders execution model, Eagle Global Markets is a hybrid broker and offers to trade currencies, indices, stocks, CFDs and commodities. Eagle Global Markets is regulated by the FSB (South Africa).

PROS
MT4 available
Relatively competitive spreads
CONS
High initial deposit
Few assets available for trade
Doesn't have its own Licence
CloudTrade trading platforms is too basic
Less responsive customer support

Trust

5/10

Trading Platform

5/10

MT4 is the man trading platform that they provide to their clients. However, they force traders to use the USD as the main currency in order to trade. According to EGM review by AtoZ Markets Team on CloudTrade, which is a newly-formed trading platform and contains lots of bugs and errors, thus, needs to be updated for smoother trade. Although the platform is easy to use, however, it is too basic as it provides very limited trading tools and features to traders.

Account Types

5/10

EGM offers four account types, available on two trading platforms: the widely used MetaTrader 4 (MT4) - MT4 Classic, MT4 Pro-ECN & MT4 Pro-VIP account, and web-based Cloudtrade platform.

Cryptocurrency

5/10

As per our research, Eagle Global Markets doesn't provide its clients to trade cryptocurrencies.   

Costs

5/10

Apart from the MT4 Classic account offerings, EGM's spreads are really good, both fixed and variable ones. However, for MT4 Pro ECN account the initial investment of $250 is much higher as compared to other brokers in the market. One can use spreads starting from 0.1 pips on EURUSD with a default commission of $12, which means that average trading costs for this pair amount to around 1.5 pips per standard lot, which is on the upper end of average.

Customer Support

5/10

Regulation

5/10

Eagle Global Markets (EGM) operates as a representative of a company that is regulated in South Africa. This means that the forex broker does not have its own license. Secondly, the oversight by the Financial Services Board (FSB) is rather formal, with no specific rules applying to forex brokerages.

Conclusion

Eagle Global Markets (EGM), focuses on Nigerian investors, offering them an option to trade with Naira in a wide range of financial instruments on two trading platforms. The main disadvantage of Eagle Global Markets is that it is not properly regulated. The broker operates via two companies - Eagle GM Limited (a firm registered in Nigeria), and Eagle Global Markets (PTY) LTD, a juristic representative of Blackstone Marketing SA (PTY) LTD.

Based upon AtoZ Markets Team research, it is hard to say EGM forex broker is a reliable forex broker keeping trading platform, deposits, ease of use, customer service, trust and regulations into account. 

Reviewd By

Our Broker Review methodology

Our mission is to provide online investors with the most unbiased, comprehensive reviews and ratings of self-directed brokers. Vetted by multiple industry experts - including a financial research firm with more than 20 years of experience in broker ratings - Our Broker Ratings and Reviews embody industry best practices for research design.

See how we conduct review