Amarkets Review 2023 – Crucial Facts About This Broker
As a broker registered in St.Vincent and Grenadines (SVG), AMarkets is already under the radar. The broker operates since 2007 on FX and CFD markets. As one of the brokers established for so long, everyone would expect them to have a trusted license.
However, to find all these statements as true or false, you have to read this AMarkets review carefully.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Owned by:||AMarkets LTD.|
|Headquarters Country:||St. Vincent and Grenadines|
|Cryptocurrencies:||Yes – BTC, BCH, LTC|
|Types of Assets:||Forex, Commodities, Bonds, Shares, Indices, Cryptocurrencies|
|Free Demo Account:||Yes|
|Accepts US clients:||No|
Is AMarkets a Scam Broker Without a License?
FSA from SVG doesn’t regulate any FX or CFD broker. Therefore, those companies should look for licenses in operating countries. Even though they applied for an FSC compensation fund, that doesn’t mean that traders have guaranteed refunds in specific cases.
That’s why we always recommend Tier 1 regulated brokers by FCA, ASIC and BaFin. Sadly, AMarkets trading company doesn’t have any of those.
AMarkets is a non-regulated broker offering extremely high leverage, with high spreads and no strict trading conditions. This broker should be avoided at all costs.
Why Is Trading On a Licensed Broker’s Platform Preferable?
Regulated brokers tend to provide some security for traders. Whether it’s compensation funds, negative balance protection or something else. The idea is to protect traders from misusing their own money.
On the negative side, this broker only claims to have compensation funds up to $20.000. However, FSC is not obligated to provide such funds.
What Platform Does AMarkets Provide?
Important to realize is that AMarkets trading company offers both trusted platforms – MT4 & MT5. But even with these platforms, leverage up to 1:1000 is highly dangerous.
That’s why traders opt for Tier 1 licensed brokers that max up to 1:30 with leverage. Even though MT4 & MT5 provide a vast of trading options, these are not a guarantee that you can make profits.
This platform provides everything you need to have as a trader. That’s why it is an industry-standard platform. Whether it’s social or copy trading, advanced indicators or charging, you can have it here. Besides, both apps are available for download on any iOS and Android device.
On the other hand, there is an AMarkets app. It’s available for all iOS and Android devices. On the negative side, it only provides trading with metals and currency pairs. The features of the AMarkets app can’t be compared to the MetaTrader app ones.
AMarkets’s Trading Assets and Instruments
AMarkets broker offers a solid instruments range. Divided into 6 groups, those are:
- Forex USD/EUR, AUD/NZD
- Indices BE20, AU200
- Shares Starbucks, Cisco
- Cryptocurrencies ADA, XRP
- Commodities Natural gas, silver
- Bonds EUR, 10-year treasury
With leverage, up to 1:1000 traders should be very careful with these assets. Especially cryptos that are very volatile.
AMarkets Broker’s Active Locations
According to some AMarkets reviews, this broker provides services worldwide. Some of the countries are:
- United States
Germany’s main regulator is BaFin. However, the AMarkets broker doesn’t have a license from that institution. Not to mention rigorous regulations coming from the United States regulators.
Which Types Of Accounts Does AMarkets Offer?
AMarkets broker offers only 3 account types. Those are:
- Fixed $100
- Standard $100
- ECN $200
These accounts are not standard. They don’t motivate traders to deposit more money. On the contrary, they provide only better trading conditions. Key point is spread, as the main benefit of an ECN account.
Does AMarkets Have a Free Demo Account?
Surprisingly, AMarkets broker offers $10.000 as virtual funds on a demo account. Even though those are virtual funds, you can test your strategy. But have in mind that virtual funds don’t present a realistic picture of trading. Most traders start losing money when they start investing real cash.
Negative Balance Protection
On the positive side, AMarkets trading company provides negative balance protection. This way, traders can’t get into debt. Some traders might think that is a reason to trust this broker. But, taking a look at any AMarkets review would say the opposite.
What Kinds of Bonuses and Promotions Does AMarkets Offer?
Important to realize is that all bonuses are forbidden by ESMA rules and EU regulators. That’s a very often way to trick traders.
Traders are required to make certain profits with those bonuses to be able to withdraw their profits. Therefore, once you see a bonus in any proposal, get away as soon as possible.
Minimum Deposit and How Do I Withdraw?
The minimum requirement is below the industry average, only $100. However, this broker doesn’t have any Tier 1 regulations and even that would be too much. Especially knowing that some regulators offer micro accounts starting at a $10 investment. After all, many traders complained about withdrawal issues. That’s why these brokers are not so trusted.
AMarkets Payment Methods Available
As for payment methods, this broker has a variety of options. Some of those are:
- Cards Visa, Master card
- Cryptocurrencies BTC, LTC, ETH, USDT
- E-payments Fasapay, Neteller, Perfect Money
AMarkets broker claims that these options are commission-free. Moreover, most of the options are instantaneous. Except for withdrawals, where clients face certain issues.
About AMarkets Terms and Conditions
All T&Cs presented by this broker are questionable. Moreover, this company offers bonuses for referrals. These are strictly forbidden by any EU regulator.
Leverage, Spreads and Fees
As shown above, leverage up to 1:1000 is unquestionably risky. Moreover, spreads from 1.3 pips are around the industry average. Still nothing competitive that Tier 1 licensed brokers would offer. Moreover, all better spreads come with higher commissions.
What Should I Do If I Have an AMarkets Problem?
AMarkets broker is an unregulated entity. Therefore, you can’t expect some security. Most of the time, clients have with such offshore entities problems withdrawals.
That’s why our expert fund recovery team is there to assist you. In case you couldn’t reach the compensation fund, you can start a chargeback process. Get in touch now to get our assistance every step of the way!
What Is AMarkets?
AMarkets is an offshore trading company that operates without a trading license but provides access to compensation funds through FSC.
Is AMarkets a Scam Broker ?
Based on AMarkets reviews traders can expect some potential issues with this broker. Unless they get the funds back through a compensation fund they can contact us for the fund recovery process.
Is AMarkets Available in the United States or the UK?
Based on our research, AMarkets works with traders coming from the US, but not UK clients.
Does AMarkets Offer a Demo Account ?
To sum it up, yes. Besides all live trading accounts, traders can choose a demo account and test their strategies there.