AGM Markets Review – BaFin Warning, Is A Scam Clone Firm
AGM Markets Review – BaFin Warning, Is A Scam Clone Firm

AGM Markets looks like a legitimate, Cyprus-based firm with regulations in Cyprus and Italy. And while the website is entirely in Italian, we thought it might be due to their regulation. Imagine our disappointment to learn that this brand is a part of the scheme, along with a related firm – ACMarketsFX. Read our review and get all the information.

Broker status:  Unregulated Broker
Regulated by: Unlicensed Scam Brokerage
Scammers Websites:
Blacklisted as a Scam by:  BaFin
Owned by:  N/A
Headquarters Country:  N/A
Foundation year: 2021
Supported Platforms: WebTrader
Minimum Deposit: 250 EUR
Cryptocurrencies: Available – BTC, ETH, XRP
Types of Assets: FX, commodities, indices, shares, cryptocurrencies
Maximum Leverage: 1:400
Free Demo Account: No
Accepts US clients: Yes

What About AGM Markets Regulation?

AGM Markets says to be a brand of AC Markets (Europe) Limited, based in Cyprus. Furthermore, the company has listed CySEC and CONSOB regulation numbers. However, a bit deeper research into the CySEC register showed us that AC Markets (Europe) Ltd has several approved domains, none of which are or, that this brand has previously used. In addition, CONSOB regulation number 4782 belongs to AAA Trade Ltd, another legitimate firm not related to AGM Markets trading scam.

Does AGM Markets Have An FCA License?

Since the firm provides investment services in the UK, we have checked if it’s authorized for that. As’s the case with the rest of the European countries, this company operates in the UK illegally.

Why Must A Broker Have a License?

A broker must have a license in order to provide funds’ safety and ensure that you can get reimbursed in any case. Furthermore, regulators limit their leverage, implying that trading risks are limited. AGM Markets or ACMarketsFX has no license and follows no rules.

Note that this firm took over the disclaimer and legal documents from FXPlanB and Fibinance, potentially related scheme firms.

Also, If at all possible, avoid unregulated brokers like Weltex, NewFX, and FavorTrades.

AGM Markets Warnings From Financial Regulators

AGM Markets Warnings

The German regulator, BaFin, has discovered AGM Markets and ACMarketsFX and their fraud. This authority body issued an official warning, stating that AGM Markets and ACMarketsFX are clone firms of the EU-regulated AAA Trade Ltd and AC Markets Ltd.

Traders Reviews About AGM Markets

This company reviews are mainly negative. Clients expressed their disappointment after discovering that AGM Markets is not, in fact, regulated and that they have been dealing with a scheme. The majority of customers cannot get withdrawals since the company doesn’t care to approve them.

What Platforms Does AGM Markets Offer? – Available Trade Software

AGM Markets offers a proprietary WebTrader. Allegedly, the software has a clean and friendly interface, enabling easy and professional-like trading. The platform is available on any desktop or Mac device, as well as through Android and iOS applications. Since there’s no Demo account and the entire website is in Italian, we cannot give more information.

Meta4 and Meta5 Platforms

MT4 and MT5 are considered the industry’s best. MetaTrader has far more charts, indicators, and other trading tools and enables access to social trading and copy trading. If you want to start investing, we always advise you to find a broker providing MetaTrader.

No Expert Advisor

Unlike MT4 and MT5, AGM Markets WebTrader doesn’t have access to EAs. EA or an expert advisor is an automated trading bot that should make your investment process easier. You can turn it on, and it’ll follow the market and find the best investment opportunity at any given moment. While we always warn investors to be careful and not accept alleged trading bots from anonymous firms, having a legitimate firm, MetaTrader and EAs is a winning combination.

All About AGM Markets Accounts

AGM Markets has 4 account types.

  1. Micro – 250 EUR
  2. Silver – 5,000 EUR
  3. Gold – 25,000 EUR
  4. Platinum – 50,000 EUR

The main difference is in the bonuses, reduction of commissions, leverage, and the minimum deposit.

AGM Markets Demo Account

This company has no Demo account, and clients have no option to trade for free.

Countries Where AGM Markets Trading Scam Is Active

The broker mainly operates in:

  • Italy
  • US
  • UK
  • Germany

AGM Markets Range of Trading Instruments & Markets

According to our review, the company offers trading with the following instruments:

  • Currency pairs
  • Commodities
  • Indices
  • Shares
  • Cryptocurrencies

Additionally, remember the names of the trading scammers Opson International, FXLiveCapital, and FX Elite Trader and stay away from them! Therefore, constantly examine the background of online trading companies before investing!

AGM Markets Unregulated Leverage

For a broker claiming to have CySEC and CONSOB licenses, this firm showed its true nature through leverage. While EU regulators limit the leverage to 1:30 for the Forex market and only 1:2 for cryptocurrencies, AGM Markets allows up to 1:400. Instead of taking care of your trades and risks, this broker ensures that you will lose everything you have on short notice.

AGM Markets Deposit and Withdrawal Methods and Bonuses

The company accepts deposits and withdrawals through debit/credit cards and wire transfers. If you want to withdraw money, you will have to pay some hefty fees – 50 units for wire transfers and 25 units for card withdrawals. Furthermore, the company charges a levy fee of 10% for dormant accounts after 6 months.

If you have accepted the AGM Markets bonus, you will need to have a rollover of the deposit plus the bonus amount 25 times before being eligible for withdrawal.

Scammed by AGM Markets Broker? – Let Us Hear Your Story

If you were scammed by AGM Markets, ACMarketsFX, or any related fraud, let us know. We may be able to help you file a dispute for a chargeback.

But What Is A Chargeback?

A chargeback is a way for your bank to reverse the transaction and get your money back from the merchant. Contact us via online chat, and let’s start the process right away. We need to act fast!

What Is AGM Markets?

AGM Markets is a scam Forex and CFD trading provider, a clone firm of a legitimate company.

Is AGM Markets a Scam Broker?

AGM Markets is a scam firm exposed by the German regulatory body.

Is AGM Markets Available in the United States or the UK?

The broker provides its services in both of these countries without a license.

Does AGM Markets Offer a Demo Account?

No, this company doesn’t offer a Demo account.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Comment link copied