PROS / ATC Brokers has low per-order commission rates.
CONS / This forex broker offers very little in the way of educational resources for investors.
VERDICT / ATC Brokers has low commissions, but its platform is not user friendly and it doesn’t provide investors with training tools.
ATC Brokers is a Los Angeles, California-based forex broker. Its online platform lacks some of features and isn’t as user friendly as those offered by other brokers in our review. It has a commission-based pricing model and relatively low spreads at the time our reviews tested.
The online platform that ATC Brokers offers is relatively bare-bones in comparison to some others we reviewed. A simple platform is not necessarily a disadvantage; you can still make trades and analyze the markets with a basic platform. But ATC’s platform is not intuitive and easy to use. To adjust the timeframe of a chart, you need to enter a drop down menu, whereas other platforms allow you to do so directly from the chart. You also cannot create multiple watchlists or even remove currency pairs from the default watchlist.
ATC Broker’s mobile app also suffers from usability problems. You cannot set alerts with the app, and it is not particularly easy to place trades. The app does allow you to use technical indicators, analyze the performance of currency pairs and test out the performance of your forex trading strategies.
ATC requires an initial deposit of $5,000, which is one of the highest of the forex brokers we reviewed. The smallest amount you can trade with this broker is a 10,000-unit mini lot. ATC charges commission on all trades, with standard lots having a higher price than mini lots. ATC does not have fixed spread. Our reviewers compared the spreads of all the brokers in our reviews, and ATC’s are roughly average. It’s important to note that forex spreads are in a constant state of flux and are influenced by a country’s economic performance and many other factors.
We looked at the educational and training resources each broker offers. While forex is a more advanced type of investment, we still value brokers that provide investors with access to webinars or articles by experts. These can give updates on the markets or offer new trading strategies to try. ATC brokers offers nothing to assist investors and offers little in the way of training on its platform.
ATC Brokers offers forex trading accounts to U.S.-based clients. Its platform is basic but not the easiest to use. It requires a higher initial deposit than other brokers we reviewed.