AMarkets Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this AMarkets Review.
AMarkets offers three basic account types: Classic, Direct and ECN. In addition, there is a special account for institutional clients. You may choose between fixed and variable spreads, market and instant execution, commission-free trading and tighter spreads involving commission. All account types offer micro lots for trade, and of course demo practice accounts are also offered to inexperienced traders.
Islamic (swap-free) service is also available to Muslim clients with minimum initial deposit of $1 000 on Classic & Direct accounts only.
Like most brokers, AMarkets offers PAMM service: an investment service, which provides the investors with the opportunity to earn without trading on the Forex market by themselves, and the managers – to get additional profits for the management of investors’ funds.
What is more, this broker provides various account levels, depending clients` account balance. If a client`s balance falls within the range of $1000 – $19 999, he or she has Gold status. Such account holders are entitled to ECN & swap-free accounts, trading performance analysis and investment portfolio creation.
Clients with account balances exceeding $20 000 get a Platinum membership and can benefit from all services, available to Gold status holders, plus the following: Free VPS server, personal consultation with the financial analyst, Custom Training Programs, and deposit processing fee compensation for all payment gateways.
The Company. Security of Funds
AMarkets is a financial broker providing an extensive variety of electronically traded products, including 50 currency pairs, a wide range of CFDs on Indices, commodities, stocks, ETFs and Metals, through both the popular MetaTrader 4, and xStation.
Founded in 2007 in Russia, AMarkets is an offshore broker, registered by the Financial Services Authority of Saint Vincent and the Grenadines (SVG).
SVG’s financial regulatory regime is one of the most liberal ones, with easy and less costly registration procedure. Registered companies don’t face any of the strict requirements UK or US-based brokerages do: they are not obliged to report regularly to any authority, nor to conduct external audits; SVG-based FX brokers are not required to hold clients’ funds in segregated accounts, to hold certain amount of net tangible assets, nor to arrange a compensation scheme in the event of insolvency.
AMarkets, however, is a Member of the Hong Kong Financial Commission – a neutral, third party Dispute Resolution Organization that is dedicated specifically to Forex. It settles disputes between financial market participants, and is able to provide every client with protection by Commission’s compensation fund for up to $10,000 per case. What is more, AMarkets is a professional member of the Russian Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN).
So, unlike most SVG-registered brokers, this one takes care of the security of clients` funds, providing additional protection.
Besides, AMarkets also offers accounts under its FCA-regulated partner in London – ATC Brokers. This option is a great fit for large institutional clients and hedge funds that utilize direct API trading (FIX protocol 4.4 and Java), as they require advanced execution technology with direct connection to marketplace.
Minimum Initial Deposit
The minimal sum required to open an account with AMarkets is just $1, a symbolically low initial amount, which is reasonable, considering the light-touch regulation. In comparison, ForexBrokerInc, registered in the Marshall Islands, requires $100 from its customers as a start for all account types (ECN ones included), while AMarkets` ECN account requires at least $1000.
Average Spreads & Commissions
This broker has both fixed and variable spreads in its portfolio. Fixed spreads amount to 2 pips on EUR/USD, which is average, and typical floating ones vary by account type: 1.5 pips on commission-free accounts and 0.3 pips for the EUR/USD pair on ECN accounts. Typical spread within the range of 1.0 – 1.5 pips on EUR/USD is considered average for the forex market. ECN trading costs also fall within this range, as a commission of $5 per standard lot per side applies ($5 x 2 + 0.3 pips = 1.3 pips). In comparison, LiteForex provides spreads averaged 1.1 pips on EUR/USD on its ECN commission-free accounts (requiring $500 minimum initial deposit).You may look up real-time spreads of 15 leading brokers here.
The maximum leverage rates at AMarkets are high, reaching 1:500. Yet most FX brokers provide leverage up to 1:200 and 1:400. ForexBrokerInc also offers leverage up to 1:500. Here you may look up more forex brokers offering leverage equal to or exceeding 1:500.
We advise traders to keep in mind that trading on margin with high leverage levels involves a risk of heavy losses, exceeding the initial investments.
AMarkets offers its clients a choice of two main trading platforms: the popular MetaTrader4 & xStation. In addition, different copy trading options are available to traders.
xStation is user-friendly, fully-customizable platform developed by XOpen Hub, which is equipped with more than 20 instruments for technical analysis, customizable Market view window and Trade signals monitor, among other advanced features. Traders will probably appreciate even more the other two features of the platform: one-click dealing and the ability to deal straight from the charts. It can be downloaded for Windows, Android or iOS devices and can also be directly launched into your browser.
As most FX brokers, AMarkets also utilizes the standard MetaTrader 4 (MT4), the preferred choice of most experienced traders. The platform is available as a PC, web and mobile versions and offers all a trader needs: a number of built-in technical indicators, advanced charting package, a wide range of Expert Advisors (EAs) and extensive EA back-testing options. Traders can download ready-made or create their own automated trading strategies and simply let the program do all the work.
Clients of AMarkets who would like to make use of auto trading, can check out Metatrader trading signals. Another possibility to copy the signals of successful traders Is the xSocial platform. Using xSocial you can monitor other traders’ activity, trading results and copy them in just one click of a mouse.
Bonuses & Promotions
At the time of writing of this review, this broker runs the following promotions:
– Compensation of account funding costs to all clients;
– Refer a Friend bonus of $10 per each active trading account, while the referred one friend gets an exclusive trading bonus that equals to 25% of the initial deposit.
Methods of Payment
The following payment modes are available to clients of AMarkets: Credit/debit cards (Visa, MasterCard), bank wire transfer, the following e-wallets: Skrill, Neteller, FasaPay, Perfect Money, WebMoney, OKPAY, Union Pay, as well as via prepaid card.
Despite being registered in the SVG, AMarkets is a reliable award-winning FX broker with almost 10 years of experience in the industry, offering a variety of trading instruments, platforms, account types and solutions to its clients.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
AMarkets Review Conclusion
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