AMarkets Review (2023)

Founded
2020
Avoid Reason
Offshore License

Is AMarkets a scam or a legit broker?

 

AMarkets is not one of the secure Forex Brokers since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, never monitored in terms of its safety and simply may operate the business in any way it wishes.

 

What is AMarkets?

 

AMarkets is a Forex and CFDs broker that provides trading through the MT4 and MT5 trading platforms. Providing brokerage services in the CIS countries, Asia and Europe, AMarkets focuses on offering high-quality services and comprehensive support to its clients and partners.

 

About AMarkets

 

🗺️ Registered inSt. Vincent and the Grenadines
🗺️ Type of LicenseOffshore License
🛡️ Is AMarkets safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

 

Licenses & Regulation

 

Is AMarkets regulated?

 

It is not safe to trade with AMarkets as it is an offshore broker. AMarkets is registered by the Financial Services Authority (FSA) of Saint Vincent, registration No. 22567 IBC 2015. AMarkets is a member of The Financial Commission, an independent external dispute resolution (EDR) organization.

However, the fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements to the company operation. That means, the broker is not regulated, not overseen and does not comply with strict international rules that provide protective measures to the traders. Therefore, it became an offshore zone for shady forex brokers such as CVC Markets, AAG Markets and more. Read more about St. Vincent and the Grenadines regulation by the link.

AMarket

 

Is AMarkets a scam?

 

According to the website, AMarkets is a Member of the Financial Commission, which settles disputes between financial market participants, and provides protection for each of our clients with the Commission’s compensation fund, for up to 20 000 EUR per case. Even though the FinaCom is a well-respected organization, it is a self-regulatory organization which cannot guarantee the safety of the trading environment and does not regulate the daily operations of the company, therefore can’t provide necessary protection to the client.

 

AMarkets in India

 

AMarkets has no mention of complying with any Indian regulators on its website. It is also worth mentioning that Forex trading is actually prohibited in India. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here.

 

AMarkets in the USA

 

The United States is one of the countries that is not accepted by AMarkets. As per the U.S law, brokers regulated by CFTC are the only brokers allowed for the USA traders. So, except for AMarkets, you are only permitted to trade with the U.S regulated platforms.

 

Deposits and Withdrawals

 

The minimum deposit to start trading is $100/€100. To be able to fund your trading account, you have to complete the identity verification (Also read about Fortrade minimum deposit). 

AMarkets does not charge any additional commission on withdrawal in its favor. When withdrawing funds from your account, you only pay transaction fees charged by the payment system. The payment system might also deduct the fixed commission on withdrawal.

The broker offers the following payment methods: VISA, MasterCard, Bank Transfer, ADVcash, Skrill, WebMoney, Perfect Money, FasaPay, Neteller, TopChange. 

 

Apps

 

AMarkets offers its traders MT4 Mobile and MT5 trading options for both iOS and Android. With smartphones, forex traders no longer need to be tied up to their desks, spending hours watching their trading screens. Instead, they can monitor the markets through their mobiles whenever they are. Mobile trading with MT4 allows you to have complete control over a trading account and trade from anywhere 24/5.

The MetaTrader 5 (Check the best MT5 brokers here) custom trading app condenses the core features of the desktop platform into a simple and user-friendly smartphone interface. Trade on the go in your iOS or Android device and access current price quotes, analyze data with customizable candlestick and line graphs with the tap of a finger.

 

Demo Account 

 

AMarkets offers a demo account so you can try the AMarkets platform with virtual trading before you put down a payment. Demo account is a great opportunity to practice strategies and become familiar with the platform with their demo account option. Also check FBS Broker Review that offers Demo account.

 

Conclusion

 

Even though the trading offering might seem attractive, in our opinion, you may find something more interesting among the regulated brokers. But an offshore status of the company does not guarantee the provision of services at the necessary level of client and funds protection. For that reason, we would advise choosing the broker more carefully and check on at the first step the broker’s regulation status. The reputable firms that hold FCA, FINMA or other licenses are established in accordance to the international standards, protecting clients at every step and even compensating the trader in case if the things go wrong with the company. 

So of course, we always advise only regulated firms to trade with, as the market trading business with its decentralized nature, unfortunately, attracts many scammers, and the trader should carefully check where to invest money and trade.

Yet, it is always great to hear your personal opinion about AMarkets. So you may share your experience or thoughts or discuss them below or ask us for additional information.

Reviews

Sophia Says:
At: 9 months ago
crypto Currency Authorities should monitor every Brokers and Account Managers activities, I lost over $230,000 to unregulated Brokers who convinced me into investing my capital. After some successful trade and my profit increased I make a withdrawal request but surprisingly all my withdrawal request was declined , I contacted their customer service unit but i was not given a meaningful lh Reason why my request was declined. I tried all I could to withdraw my fund but no solution , at the end I lost all my capital without a single profit return .In search for help on how to get my money back I was directed to contact Mr Nick jover who work with crypto Currency authorities, I contacted him and explained my situation to him , he requested fors some details about the broker and concerning my investment, I forwarded all the details to him. It was all like a dream , through him I was able to get back all my money , please don’t sit back and cry when you facing difficulties in withdrawing your profit or you totally lost your funds to any Broker or Account Manager , kindly contact Mr Nick through his e maiI: nick jover4 at G maiI . Com , assure you a successful one