ARGUS
Pros and Cons
Pros
- Regulated by CYSEC (Cyprus Securities and Exchange Commission)
- Over 20 years of experience in the financial services industry
- Diverse range of financial services including asset management and investment advice
- Multiple trading platforms: ARGUS Trader and Argus Global Trader
- Access to various global markets, including forex, stocks, and commodities
Cons
- Not regulated in major jurisdictions like FCA or ASIC
- Limited trading instruments (primarily Forex and few commodities)
- Outdated proprietary trading platform
- Poor customer support response times
- High withdrawal fees on certain accounts
Basic Information
User Reviews
ARGUS Overview
Founded in 2000, ARGUS is a Cyprus-based forex broker regulated by the Cyprus Securities and Exchange Commission (CYSEC) under license number 010/03. With over two decades of experience in the financial services industry, ARGUS offers a range of brokerage and investment solutions, ensuring compliance with stringent regulatory standards that aim to protect its clients. The broker’s solid regulatory status enhances its credibility and provides traders with a level of confidence when engaging in trading activities.
Is ARGUS Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Cyprus Securities and Exchange Commission (CYSEC) | Cyprus | Segregated Funds, Investor Compensation Scheme |
Is ARGUS Regulated and How Are Client Funds Protected?
ARGUS is a regulated broker under the Cyprus Securities and Exchange Commission (CYSEC) with license number 010/03. This regulatory status provides a level of reassurance to clients, as it ensures that the broker adheres to stringent financial standards and operational practices. Client funds are protected through measures such as segregated accounts, which keep clients’ money separate from the broker’s operational funds, and an investor compensation scheme that offers additional security in case of broker insolvency. Furthermore, with over 20 years of operation, ARGUS has established a reputation in the financial services industry, although it is important for clients to remain informed about their rights and the regulatory framework that governs their investments.
Trading Products and Services
What trading instruments does ARGUS offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, AUD/NZD | 50+ |
| Commodities | Gold, Silver, Crude Oil, Natural Gas | Many |
| Indices | S&P 500, NASDAQ, FTSE 100, DAX | Varies |
| Stocks | US (e.g. Apple, Tesla), UK (e.g. BP, Vodafone) | 100+ |
| Cryptocurrencies | BTC, ETH, XRP, LTC | Many |
ARGUS provides a diverse range of trading tools that cater to a variety of traders, from beginners to seasoned professionals. With offerings across multiple asset categories, including Forex, commodities, indices, stocks, and cryptocurrencies, traders can find ample opportunities to diversify their portfolios and implement various trading strategies. The extensive selection allows for flexibility in trading, whether one prefers short-term trading or long-term investment approaches. By supporting such a wide array of financial products, ARGUS empowers users to navigate the markets effectively and make informed decisions that align with their investment goals.
Account Types and Trading Conditions
What Account Types and Fees Does ARGUS Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners | Low minimum deposit, user-friendly platform | Ideal for small-capital practice |
| Professional Account | Experienced traders | Higher leverage, lower spreads | Requires trading volume qualifications |
| Corporate Account | Corporate clients | Customized services, advanced trading tools | Requires corporate documentation |
| Islamic Account | Traders requiring Sharia-compliant options | Swap-free trading, no hidden fees | Available upon request |
| Demo Account | All traders | Risk-free practice environment | No deposit required, limited time access |
Account Opening Process
To open an account with ARGUS, prospective clients must follow a straightforward process. First, individuals will need to submit personal, employment, and financial information. This includes providing identity verification documents such as a government-issued ID and proof of address. Once these steps are completed, applicants may gain access to their accounts. Notably, there is flexibility in account management, allowing users to upgrade to a professional account as their trading experience and volume increase.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $3.5/lot) | Tight spreads for major pairs |
| Forex (GBP/USD) | 1.0 | $0 (ECN: $3.5/lot) | Competitive rates for minor pairs |
| CFDs (Stocks) | 0.1% | $7 per lot | Comprehensive access to stocks |
| CFDs (Indices) | 0.5% | $5 per lot | Variety of indices available for trading |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on market conditions |
Other Fees
In addition to trading fees, clients should be aware of other potential costs associated with their accounts. These may include deposit and withdrawal fees, inactivity fees for dormant accounts, and any applicable platform usage fees. Additionally, overnight interest charges (swap rates) may apply to positions held overnight, and currency conversion fees could be incurred when trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does ARGUS Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4/MT5 | Windows, macOS, iOS, Android | 2FA, encryption, multiple order types, price alerts, technical indicators | Demo accounts, VPS, API interfaces |
| Web Version | Web browsers (PC & mobile) | Encryption, symbol lookup, one-click trading, price alerts | Demo accounts, API interfaces |
| Mobile App | iOS, Android | Biometric login, market search, push notifications, multiple order types | Demo accounts |
The ARGUS trading platforms cater to a wide range of trader needs. The MT4/MT5 platforms are ideal for advanced traders seeking extensive tools and features such as multiple order types and advanced technical indicators. The web version provides a convenient browser-based option, allowing for trading without installation. Meanwhile, the mobile app ensures that traders can access their accounts and receive real-time alerts on-the-go. All platforms prioritize secure logins and fast order execution, enhancing the overall trading experience.
In summary, ARGUS offers comprehensive support for mobile trading and efficient search tools, enabling traders to operate securely and effectively across different devices.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| SEPA Transfer | 1-2 business days | No platform fee | Min 100, Max 50k | EUR, USD |
| GrabPay | Instant | 1% fee on deposits | Min 50, Max 10k | SGD, USD |
| SPEI | Immediate | No fees | Min 200, Max 30k | MXN, USD |
| Credit/Debit Card | Instant | 2% fee | Min 100, Max 20k | USD, EUR, GBP |
| Bank Wire Transfer | 3-5 business days | No platform fee, $30 for international | Min 500, Max 100k | USD, EUR |
Minimum Deposit
ARGUS requires a minimum deposit of $50 for standard accounts. This amount may vary depending on the payment method chosen, with bank wire transfers requiring a minimum of $500. Additionally, certain account types, such as premium accounts, might have higher minimum deposit requirements.
How to Withdraw
To withdraw funds from your ARGUS account, follow these steps:
- Log in to your ARGUS account.
- Navigate to the ‘Withdrawal’ section under your account dashboard.
- Select your preferred withdrawal method from the available options.
- Enter the amount you wish to withdraw, adhering to the limits specified.
- Confirm your withdrawal request and verify your identity if prompted.
- Submit your withdrawal request and wait for processing confirmation.
Customer Support
ARGUS Customer Support Overview
Support Channels
- Email: Customers can reach out to ARGUS support via email at argus@argus.com.cy. This method is suitable for inquiries that do not require immediate assistance.
- Live Chat: The live chat feature on the ARGUS website allows for real-time support, making it convenient for customers seeking quick answers to their questions.
- Telephone: Customers can contact ARGUS support directly at +357 22 717000 for immediate assistance. This is ideal for urgent issues that require a personal touch.
- Social Media: ARGUS maintains a presence on platforms like Facebook, where customers can reach out for support and updates.
Service Availability
ARGUS offers customer support 24/5, ensuring that clients can receive help during the trading week. Additionally, multilingual support is available in English and Greek, catering to a diverse client base.
Additional Resources
To enhance customer experience, ARGUS provides various educational resources including:
- Video Tutorials: Comprehensive guides on using the trading platforms effectively.
- Webinars: Regularly scheduled sessions covering market strategies and trading techniques.
- Market Analysis: In-depth insights into market trends and forecasts to aid traders in making informed decisions.
- Trading Signals: Timely alerts to help customers identify potential trading opportunities.
Frequently Asked Questions
ARGUS is regulated by the Cyprus Securities and Exchange Commission (CYSEC) under license number 010/03. This regulation ensures that ARGUS adheres to strict financial standards and provides a level of customer protection through regular audits and compliance checks. Clients can be reassured that their funds are managed under a regulated framework.
ARGUS offers competitive trading conditions including a variety of financial instruments such as forex, stocks, and commodities. Clients can access trading through the ARGUS Trader and Argus Global Trader platforms. Specific conditions may vary depending on the account type, but generally, clients can expect low spreads and fast execution times.
ARGUS takes fund security seriously by maintaining client funds in segregated accounts at reputable banks, ensuring that they are separate from the company’s operational funds. Additionally, being regulated by CYSEC mandates the company to follow strict guidelines for fund management and client protection.
ARGUS provides multiple support channels for clients, including phone support at +357 22 717000 and email at argus@argus.com.cy. They also have a dedicated customer service team available to assist with inquiries related to trading, account management, and technical issues.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.