AMarkets Forex Trade Platform and Broker Review

AMarkets Forex Trade Platform and Broker Review

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AMarkets Broker Review

AMarkets is an award-winning offshore broker based in Saint Vincent and the Grenadines which was established in 2007. AMarkets is an online trading broker that offers the trade in a variety of financial instruments across various asset classes.

AMarkets has more than 100 employees and is headquartered in Kingstown in Saint Vincent and the Grenadines.

Is AMarkets Regulated?

Yes, AMarkets is regulated by the Financial Services Authority (FSA) in Saint Vincent and the Grenadines.

As per the official AMarkets website, the broker has regulation for a cross-border license that authorizes AMarkets to provide investment and ancillary services to forex traders in several jurisdictions.

Through its regulation, AMarkets guarantees that client funds are kept safe through the segregation of accounts which means that client funds are kept in separate accounts from the operational funds of the broker. These funds are only used to execute trading activities of forex traders and the funds are withdrawable at any given time. 

Is AMarkets Regulated in the United States?

No, AMarkets is not regulated in Virginia or any other US state. 

Is AMarkets Regulated in Europe?

No, AMarkets is not regulated in Europe, according to the official website.

Is AMarkets regulated in a Tier-1 Jurisdiction?

Tier-1 Jurisdiction provides AMarkets with the license to provide financial services in Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Israel, Japan, Luxembourg, Netherlands, New Zealand, Norway, Puerto Rico, Singapore, Sweden, and Switzerland.

As per the AMarkets official website, the broker does not have Tier-1 jurisdiction.

Is AMarkets regulated in Tier-2 Jurisdiction?

Tier-2 Jurisdiction provides AMarkets with the license to offer financial services and operate in the British Virgin Islands, Cayman Islands, Cyprus, Italy, Malaysia, Mexico, Poland, Portugal, Spain, and Taiwan.

According to the official website, AMarkets is regulated in Tier-2 jurisdiction.

What are the Platforms and Tools for Forex Trading in AMarkets?

AMarkets offers forex traders with the popular and user-friendly MetaTrader suite which consists of MetaTrader 4 and MetaTrader 5.

  1. Amarkets’ MetaTrader 4 is considered the best trading platform in the industry and is used by both beginners and professionals alike. With MetaTrader 4, forex traders have access to 30 indicators, 9 time-frames, single thread strategy tester, locking option, and more.
  2. MetaTrader 5, offered by AMarkets, is the revised, innovative version of MetaTrader 5 that offers partial order filling, a wide variety of indicators 21 time-frames, a built-in economic calendar, an updated strategy tester, access to MQL5, a variety of pending orders, and more.

Does AMarkets Have a News Blog for Forex News?

Yes, AMarkets offers a news blog for forex news on the website that is offered free of charge. The forex news section provides forex traders with updated market news as it occurs to ensure that forex traders can manage their trading activity effectively.

Does AMarkets Have a Traders Dashboard?

No, AMarkets does not have a forex traders Dashboard on the broker’s official website.

Does AMarkets Have an Educational Section?

No, AMarkets does not have an Educational Section featured on the official website.

Is AMarkets Legit?

Yes, AMarkets is a legit Forex Broker and Trade Platform that is regulated by FSA in Saint Vincent and the Grenadines.

Is AMarkets Safe?

Yes, AMarkets is considered a reliable and safe Forex Trade platform as far as regulation along with strict security protocols is concerned. AMarkets is regulated by:

  • The Financial Services Authority (FSA) in Saint Vincent and the Grenadines.

AMarkets’ regulation requests that client funds be kept in segregated accounts separate from the funds of the broker.

Is AMarkets a Good Broker?

Yes. According to a Forex Suggest review, AMarkets is a good broker where security, trading speed, online support, and cryptocurrencies are concerned. 

  1. AMarkets offers the security of client funds by ensuring that funds are kept segregated in bank accounts with top-tier banks. Data encryption is also used on the website to ensure the security of information.
  2. AMarkets offers both instant and market trade execution depending on the trading account the trader holds, with orders typically executed within 0.03 seconds.
  3. AMarkets offers online support to forex traders by having a live chat function available on the website.
  4. AMarkets offers a variety of cryptocurrencies that can be traded as CFDs including Bitcoin, Bitcoin Cash, Dash, Ethereum, and Litecoin.

What is the Offering of Investment in AMarkets?

Offerings of AMarkets can be found below.

Feature AMarkets
Forex Trading Yes
CFDs Yes
Forex Pairs Yes
Cryptocurrency (Physical) No
Cryptocurrency (CFD) Yes
Social Trading  Yes

Does AMarkets have Nasdaq?

Nasdaq is known as the stock exchange index that specifically tracks the top technology stocks of top companies based in the United States.

A Markets offers forex traders with the trade-in Nasdaq. As a Nasdaq owner, AMarkets offers to trade in this index through stock and index CFDs.

What are the Awards of AMarkets?

Forex Trading Platform AMarkets’ awards are listed below.

  1. Dynamic Development – forex traders Union Awards (2020).
  2. Best Value Broker Middle East – Global Forex Awards (2020).
  3. Fastest Growing Forex Broker in the Middle East – Egypt Investment Expo (2019).
  4. Best Forex Introducing Broker Program Award – JFEX Awards (2019).
  5. Best Affiliate Programs on the Financial Market – Race Awards (2016).
  6. Best FOREX Broker on the Affiliate Programs Market – Race Awards (2015).
  7. Best Execution Speed, Highest Client Success Rate – IAFT Awards (2014).
  8. Fastest Growing – STP Broker Asia (2013).
  9. Best Education Program – Show FX (2011).
  10. Discovery of the Year – Newland (2009).

How to Use AMarkets for Forex trading?

To use AMarkets, a forex trader should have the necessities below:

  1. Forex traders must be 18 years of age or older.
  2. Forex traders must possess a valid form of identification such as an ID Card or passport.
  3. Forex traders must have proof of their residential address (not older than 3 months).
  4. Forex traders must be able to afford the $100 minimum deposit requirement for a Fixed or Standard Account or $200 for the ECN account.

If a forex trader meets the conditions above, they can proceed to register a forex trading account to use the services of AMarkets.

How to open a Forex trader account with AMarkets?

To open a Forex Trading account with AMarkets, a trader should follow the steps below.

  1. Forex traders can visit the official AMarkets website and select “Open Account”.
  2. Forex traders can complete the Standard Account Form by providing their First and Last Name, email address, and phone number. forex traders can choose their trading platform and select “Open Account”.
  3. Forex traders can download their trading platform of choice and use the account credentials to access their new trading account and make their initial deposit to start trading.

What are the Forex Trader Account Types with AMarkets?

Forex Trading Platform and Financial Asset Management Institution AMarkets have 6 different account types that are offered. Each of these account types is tailormade to various forex traders depending on their trading needs and objectives.

AMarkets’ Account Types are listed below. 

  1. Demo Account

  2. Islamic Account

  3. Standard Account

  4. Fixed Account

  5. ECN Account

  6. RAMM Account

 

  • Demo Account

AMarkets offers forex traders a free demo account that can be used in a variety of ways including practice trading, test strategies, and explore what AMarkets has to offer. This is done using virtual funds while accessing a mirrored live trading environment without risk to capital.

  • Islamic Account

AMarkets offers forex traders of the Muslim faith who follow the Sharia law the option of converting either the Standard, Fixed, or ECN account to an Islamic Account. With the Islamic Account, Muslim forex traders can expect the following:

  • No overnight commissions or swaps on forex or metals.
  • Spreads that start from 0 pips.
  • Access to more than 250 financial instruments.

 

  • Standard Account

The Standard Account is designed for both beginner and experienced forex traders. This account type has a spread that is variable and has the benefit that there are no transaction fees charged on either metals or forex while providing most of the features available to professional forex traders.

The features on this account include the following:

  • Instant/Market order execution depending on the trading platform used.
  • An initial deposit of $100.
  • Leverage of up to 1:1000.
  • Decimal pricing up to 5 digits.
  • Order volume from 0.01 lots with a 0.01 step.
  • Floating spreads from 1.3 pips.
  • Option for an Islamic Account.
  • Zero commissions charged on trades.
  • Stop-out level of 20% and margin of 50% for hedged positions.
  • USD and EUR as the account currency.
  • Access to 42 forex pairs, 7 metals, 16 indices, 11 commodities, 2 bonds, 7 cryptocurrencies, and 144 stocks.
  • Negative balance protection is applied to the account.

 

  • Fixed Account

The Fixed Account has the benefit that there is a fixed spread. It is a classic type of account that caters for forex traders who prefer to pay a fixed amount for every trade. The trading strategy best suited to this type of account is position trading.

The features on this account include the following:

  • Instant/Market order execution depending on the trading platform used.
  • An initial deposit of $100.
  • Leverage of up to 1:1000.
  • Decimal pricing up to 4 digits.
  • Order volume from 0.01 lots with a 0.01 step.
  • Fixed spreads from 3 pips.
  • Option for an Islamic Account.
  • Zero commissions charged on trades.
  • Stop-out level of 20% and margin of 50% for hedged positions.
  • USD and EUR as the account currency.
  • Access to 35 forex pairs, 7 metals, 16 indices, 11 commodities, 2 bonds, 7 cryptocurrencies, and 144 stocks.
  • Negative balance protection is applied to the account.

 

  • ECN Account

With the ECN Account, each order is executed at the Prime broker with liquidity aggregated from top-tier providers. This allows for instant execution of orders despite the trading volume. The ECN Account is also suited for strategies involving scalping and it has the fastest order execution speed.

The features on this account include the following:

  • Market Execution
  • An initial deposit of $200.
  • Leverage of up to 1:200.
  • Decimal pricing up to 5 digits.
  • Order volume from 0.01 lots with a 0.01 step.
  • Fixed spreads from 0.0 pips.
  • Option for an Islamic Account.
  • Commissions of $2.5 per lot traded.
  • Stop-out level of 40% and margin of 50% for hedged positions.
  • USD and EUR as the account currency.
  • Access to 42 forex pairs, 7 metals, 16 indices, 11 commodities, 2 bonds, 7 cryptocurrencies, and 144 stocks.
  • Negative balance protection is applied to the account.

 

  • RAMM Account

This account is used as social trading or copy trading account and offers the following:

  • Minimum deposit of $100.
  • Maximum of 1:200 leverage.
  • Floating spreads from 0.0 pips.
  • Zero-commission trading.

How to Withdraw Money from AMarkets?

To withdraw money from AMarkets, the following should be done:

  • Forex traders can log into their Trader Area and select the option to withdraw funds.
  • Forex traders can select their preferred payment method and provide the account from which to withdraw, the amount, and the currency.
  • Forex traders must note that the payment system may deduct fixed commissions on withdrawal.
  • There is a daily withdrawal limit applied to each payment method.
  • Withdrawal requests are processed between 8 am and 5 pm UTC+1 from Mondays to Fridays.

How many days do deposits take with AMarkets?

Deposits can reflect instantaneously, however, when using Bank Wire Transfer, deposits will take between three and five business days to reflect in the trading account.

What are the costs and fees with AMarkets?

There are four types of costs that forex traders can expect with AMarkets namely spreads, commissions, swap fees, and margin requirements. 

The spread is the difference between the bid and the asking price. Spreads are indicated in pips and they are the smallest increment with which a price can either move up or down.

Commissions are charged at a flat rate on trades depending on the type of account and the financial instrument traded. Swap fees are also known as overnight or rollover fees. These are either debited/credited depending on whether the trader has a long/short position when they keep their trade open for longer after the trading day ends.

Margin is often expressed as a percentage and it is what the broker requires as collateral when forex traders execute trades.

What are the Trading Fees with AMarkets?

The Forex Trading Fees with AMarkets are below. 

The Standard Account:

  1. Spreads: from 1.3 pips
  2. Commissions: None
  3. Margin: 50% for hedged positions
  4. Swap rate: short -0.7215 pips and long -7.48035 pips on EUR/USD.

The Fixed Account:

  1. Spreads: 3 pips.
  2. Commissions: None
  3. Margin: 50% for hedged positions
  4. Swap rate: short -0.7215 pips and long -7.48035 pips on EUR/USD.

The ECN Account:

  1. Spreads: from 0.0 pips.
  2. Commissions: $2.5 per lot.
  3. Margin: 50% on hedged positions
  4. Swap rate: short -0.7215 pips and long -7.48035 pips on EUR/USD.

The RAMM Account

  1. Spreads: from 0.0 pips.
  2. Commissions: None

What is the minimum deposit in AMarkets?

The minimum deposit in AMarkets is $100 for a Standard, Fixed, and RAMM Account, and $200 for an ECN Account.

What are the contract specifications in AMarkets?

Feature AMarkets
Forex Trading Yes
CFDs 100+
Forex Pairs 42
Cryptocurrency (Physical) 0
Cryptocurrency (CFD) 7
Social Trading  Yes

Does AMarkets have promotional offers?

Yes, AMarkets Trade and Exchange platform has promotional offers for existing as well as new forex trading account holders. These promotional offers are as follows:

  1. Trade demo, earn real cash.
  2. Cashback bonus
  3. Referral bonus
  4. Commission-free trade bonus
  5. Deposit bonus

Does AMarkets have a welcome bonus?

Yes, AMarkets offers a welcome bonus of 15% to new forex traders.

A welcome bonus offers forex traders a 15% credit bonus when they register an account with AMarkets and make an initial deposit of $500 into their trading account.

Does AMarkets have a deposit bonus?

Yes, AMarkets offers a deposit bonus of up to $10,000 to new and existing forex traders.

The deposit bonus provides forex traders with a certain amount of trading credit that can be used for trading activities. Once forex traders achieve a required level of trading turnover, their deposit bonus will become withdrawable.

Is there a commission-free trade bonus in AMarkets?

Yes, AMarkets offers a commission-free trade bonus.

When forex traders are charged with commissions on their deposits, AMarkets will compensate forex traders despite the deposit amount.

Is there a VIP bonus in AMarkets?

No, AMarkets does not offer forex traders a VIP bonus.

According to the official AMarkets website, there were numerous VIP bonuses that were offered in the past. The website does not indicate whether there are upcoming VIP bonuses that are being planned.

Can you start trading with no money at AMarkets?

No, you cannot start trading with no money at AMarkets. forex traders must deposit the minimum deposit for their account type to activate their trading account and to allow them to start trading.

For the Standard, Fixed, and RAMM Accounts forex traders must pay $100 and for the ECN Account, forex traders must pay $200.

How does leverage work with AMarkets?

Leverage is a tool that is used by forex traders to open large positions despite their initial deposit size. Even though leverage maximizes the change of substantial profits, it also exposes forex traders to more risks.

AMarkets offers leverage depending on the account type of the trader and their equity.

Leverage on the Standard and Fixed Account works as follows:

Forex

  • Equity under $10,000 – up to 1:1000.
  • Equity between $10,000 and $50,000 – up to 1:500.
  • Equity between $50,000 and $100,000 – up to 1:200.
  • Equity between $100,000 and $1,000,000 – Up to 1:100.

Cryptocurrencies

  • Equity under $19,999 – Up to 1:10 on BTC/USD and other cryptocurrencies up to 1:5.
  • Cryptocurrencies are other than BTC/USD with equity over $20,000 – Up to 1:1.
  • Equity from $20,000 to $49,999 – Up to 1:3.
  • Equity of $50,000 and more – up to 1:1.

Leverage on the ECN Account works as follows:

Forex

  • Equity under $100,000 – up to 1:200.
  • Equity from $100,000 to $1,000,000 – up to 1:100

Cryptocurrencies

  • Equity under $19,999 – Up to 1:10 on BTC/USD and other cryptocurrencies up to 1:5.
  • Cryptocurrencies are other than BTC/USD with equity over $20,000 – Up to 1:1.
  • Equity from $20,000 to $49,999 – Up to 1:3.
  • Equity of $50,000 and more – up to 1:1.

Leverage can be changed in the Trader’s area under the account settings.

Where are the headquarters of AMarkets?

AMarkets is headquartered in Kingstown in Saint Vincent and the Grenadines.

Who is AMarkets’ CEO?

According to an official AMarkets support agent, such information is not disclosed to the public and there are no other formal resources that provide this information.

What are the social media accounts of AMarkets?

forex traders can follow AMarkets on the following social media accounts:

  • Facebook
  • LinkedIn
  • Instagram
  • Telegram
  • WhatsApp
  • YouTube

How many employees do work for AMarkets?

There is no official source or clarification of the staff compliment for AMarkets but from their business size, it can be deduced that there are more than 100 employees.

What are the opinions about AMarkets?

AMarkets is considered a low-risk and safe forex broker overall. One concerning factor that most forex traders experience is that AMarkets has offshore regulation. However, despite this, AMarkets has overall good reviews and offers forex traders comprehensive solutions and competitive rates.

What are AMarkets Contests?

AMarkets does not run any contests.

The official AMarkets website indicates that there were several contests held in the past but does not provide dates for future contests.

Does AMarkets have online support?

Yes, AMarkets offers online support to forex traders through the live chat option that is accessible from the website.

Does AMarkets offer demo accounts for Forex trading?

Yes, AMarkets offers a free demo account for all new forex traders. The demo account can be opened with the following steps:

  1. Visit the AMarkets website and select the “Demo” banner.
  2. Complete the basic information sections requiring the first and last name of the trader, their email address, and mobile phone number.
  3. Once registered, forex traders can select “Open Demo” again and they will be redirected to the WebTrader where they can proceed with demo trading.

Does AMarkets have a mobile app for Forex trading?

Yes, AMarkets has a mobile app for forex trading through MetaTrader 4 and MetaTrader 5. AMarkets does not offer its own proprietary mobile app but offers mobile trading through the trading platforms that it supports.

Does AMarkets publish an economic calendar?

AMarkets does not offer an economic calendar on the official website.

Forex traders use an economic calendar to obtain information on economic updates that are to be announced and released around the globe. With this tool, forex traders can see events that are coming and plan their trading in case these events affect the financial markets and their trading.

What is the communication information of AMarkets?

AMarkets has one main telephone number and one main business address.

AMarkets can be contacted telephonically on +44 330 777 22 22.

The official business address of AMarkets is Suite 305, Griffith Corporate Centre, Kingstown, Saint Vincent and the Grenadines.