AMarkets Review – Is This Unlicensed Forex Broker a Scam?

AMarkets Regulations and Licensing Details

AMarkets Ltd is the brand behind AMarkets, Saint Vincent and the Grenadines. It was founded in 2007. The broker, as one of the market’s veteran traders, should offer legitimate trading conditions and a stable atmosphere.

But not everything is perfect.

Questions to AMarkets License and Regulation – Reputation Issues

The FSA from SVG regulates AMarkets. But there is one problem with this regulation. However, the FSA clearly states this is a register only for financial companies. All should choose to be regulated in the country of their service.

We have therefore checked ASIC, FCA and other registers but found no trace of AMarkets regulation.

The alleged compensation fund is sourced from FINACOM (the Financial Commission), an independent financial agency based in Hong Kong. FINACOM reviews will show you how meaningless the words of such agencies are.

AMarkets broker and FINACOM are not obligated to compensate victims because they do not fall under any government jurisdiction.

AMarkets Forex Review

AMarkets offers MT4 and MMT5 platforms, both highly regarded platforms that offer a wide range of indicators. The platform should be chosen by clients based on their trading preferences.

The broker also offers leverage up to 1 000, which can be extremely dangerous and high-risk for your funds.

AMarkets HTML4 & HTML5 Software

The trading style will determine the choice of platform. Only MT5 can execute Market orders, while MT4 can execute instant orders. An ECN account that only supports Market execution cannot be created on any other software than the MT5 software.

AMarkets App: Is Mobile Trading Possible?

AMarkets provides these platforms for mobile phones, just like any MT4 and MT5 software provider. You can use the platform on both Android and iOS phones, as well as tablets and iPads. The broker’s website has a link to download the platform app.

Copy Trading

The broker provides a Copy Trading platform on the MT5 platform. This is available for both regular and RAMM accounts. The platform allows traders to see the top traders and copy their trades. Copy trading is possible instantly without delay.

What products does AMarkets offer you? – Trading Assets

The broker also offers a broad range of assets such as:

• 42 currency pairs All majors and exotics like RUB/USD
• 12 cryptocurrencies – BTC, ETH, XRP, etc.
• 144 stocks from the EU, US and Asian markets – Amazon.com, Pfizer
• 18 commodities including metals and energies as well as agricultural commodities
• 16 indices from the EU and US markets – Dow Jones, FTSE100
• 2 bonds- EUR bond, 10-Year Treasury Note

Countries Accepted and Prohibited By the Broker

According to the broker’s website it was designed for Latin America, Asia and CIS (Community of Independent States), which includes Armenia, Azerbaijan and Belarus, Kirghizstan and Moldavia, Uzkistan, Russia and Tajikistan. We did however find AMarkets reviews from countries in the EU such as France, Sweden, Norway, and Australia.

All African countries, Canada and the USA are also considered prohibited.

AMarkets Account Types: Trading Accounts

The broker also offers three account types:

• Fixed account Minimum deposit $100. Available in Market execution or Instant execution. Spread is fixed at 3 pip and leverage can go up to 1 000
• Standard account Minimum deposit $100. Available in Market execution or Instant execution. Spread is floating. Leverage goes up to 1:000.
• ECN account Minimum deposit $200 available in Market execution. Spread is floating and starts at 0 pip, while leverage can go up to 1:200.

Only the ECN account has a $2.5 commission per lot.

Demo Account

AMarkets also offers clients a Demo account that allows them to trade 10,000 units. This account gives you an unrealistic experience in the market, as $100 is the minimum deposit. It will give you good platform insight.

Protection

The broker also provides negative balance protection. Clients’ accounts are returned to zero if they are below the available funds.

AMarkets Deposit and Withdrawal Methods

AMarkets minimum deposit of $100 can be made through:

• Visa/MasterCard
• Wire transfer
• Skrill
• Neteller
• WebMoney
• Perfect Money
• ADVcash

What is a chargeback?

Chargebacks are a way for your bank to reclaim funds from the merchant. We recommend that you contact us immediately to initiate the process. In a free consultation, we will discuss how to get your money back immediately!

AMarkets: Video

Below you will find a short video about AMarkets. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about AMarkets!