Andromeda Markets Information
Andromeda Markets, established in January 2023 and based in Mauritius, offers forex, commodity, index, and share CFD trading through the user-friendly MT5 platform. While it has no swap fees, a high leverage ratio of 1:400, and three different account options, the unregulatory status poses a significant risk to investors. The high minimum deposit requirement for certain accounts and the relatively high stop-out level are also problems for some traders.
Pros and Cons
Is Andromeda Markets Legit？
Andromeda Markets operates without any regulatory body to oversee its operation. Such absence of rules may place investors at a higher risk, given that there is no institution to monitor. The domain andromedamarkets.com was registered on Jan 01, 2023, and is currently in a status where the owner has prohibited domain transfers.
What Can I Trade on Andromeda Markets？
Andromeda Markets offers trading in multiple financial instruments, including Forex, Commodities, Indices, and Shares.
Account Type
Andromeda offers three-tiered accounts designed for traders of varying experience levels and investment sizes.
- Andromeda A: The $200 minimum deposit makes it accessible to new traders who may be hesitant to commit a large sum initially. It is a deal for beginners starting their trading journey with a smaller investment.
- Andromeda AA: It has a moderate level of minimum deposit and spreads. Thus it is suitable for dedicated traders looking to enhance their trading experience with tighter spreads and lower commissions.
- Andromeda AAA: The highest $50,000 minimum deposit makes it tailored for expert traders seeking the most competitive trading conditions, including ultra-low spreads and minimal commissions.
Andromeda Markets Fees
Andromeda Markets offers three account types: A, AA, and AAA, each tailored to different trading needs and investment levels. All accounts offer a generous leverage of 1:400 and are swap-free. The minimum deposit for the A account is $200, increasing to $25,000 for AA and $50,000 for AAA. Spreads vary across accounts, starting from 1.2 pips for the A account, tightening to 0.3 pips for AA, and reaching as low as 0 pips for the AAA account. Commission fees are also tiered, with the A account having a starting commission of $0, increasing to $5 for AA and $3 for AAA.
Trading Platform
Customer Service
You can reach out to Andromeda Markets 5/24 by email at support@andromedamarkets.net and by phone at +230 5297 0116.
The Bottom Line
Andromeda Markets offers a user-friendly MT5 platform with various account options, swap-free trading, and high leverage. However, the biggest concern is the lack of regulatory oversight. Therefore this platform is best suited for those willing to take on a higher level of risk.
FAQs
Is Andromeda Markets good for beginners？
No. While Andromeda Markets offers a user-friendly MT5 platform, its lack of regulation and high minimum deposit requirements make it less suitable for beginners.
Is Andromeda Markets good for day trading？
The platform offers features suitable for day trading, but the lack of regulation remains a major concern. Besides, the high stop-out level of 10% will also pose challenges for aggressive day traders
Is it safe to trade with Andromeda Markets？
Trading with Andromeda Markets carries significant risk due to the lack of regulatory oversight. Therefore, there is a higher potential for fraud or financial losses. Only invest in Andromeda Markets if you understand the risks.
Risk Warning
Online trading involves considerable risk, so it may not be suitable for every client. Please make sure that you totally understand the risks involved and notice that the information above provided in this review may be subject to alteration owing to the constant updating of the company's services and policies.
