AMarkets

Overview of AMarkets

AMarkets is an online forex broker based in St. Vincent and the Grenadines, offering various appealing trading conditions such as high leverage, and access to popular trading platforms like MetaTrader4 and MetaTrader5. It provides a wide range of trading instruments across six asset classes, including forex, stocks, and cryptocurrencies. AMarkets also offers a mobile trading app for both Android and iOS users, allowing traders to access their accounts on the go. It provides multiple language options to cater to a diverse client base.

However, it is important to note that AMarkets operates without a license and is not regulated by any recognized financial authority. Traders should consider this factor and conduct thorough research before deciding to trade with AMarkets.

Is AMarkets legit or a scam？

As mentioned earlier, AMarkets is registered in St. Vincent and the Grenadines, but it is not regulated by any recognized financial authority. This lack of regulation may raise concerns for some traders regarding the safety and security of their funds. It is advisable for traders to exercise caution and conduct thorough research before engaging with unregulated brokers.

It is recommended to prioritize brokers that are regulated by reputable regulatory agencies, as they provide an additional layer of oversight and protection for traders.

Pros and Cons

AMarkets offers a wide range of trading instruments and multiple account types. It also offers a demo account, providing traders with an opportunity to practice and familiarize themselves with the platform before trading with real money. The broker offers a generous leverage option of up to 1:3000, which can be appealing to experienced traders seeking higher potential returns. AMarkets supports the widely used MT4 and MT5 trading platforms, providing traders with reliable and efficient trading tools. It does not charge any deposit or withdrawal fees.

One notable disadvantage of AMarkets is the absence of specific regulation, and the lack of regulation by a recognized financial authority may raise concerns for some traders. AMarkets has a relatively high minimum deposit requirement of $100, which might be a barrier for traders with limited capital. The ECN Account charges commission fees, which could potentially impact the profitability of trades for certain traders.

Market Instruments

AMarkets provides its clients with a wide range of trading markets, offering diverse opportunities for both beginners and experienced traders. Traders can access a variety of markets including currency pairs, indices, commodities, metals, energy products, cryptocurrencies, stocks, and ETFs. This extensive selection allows traders to choose from a broad spectrum of instruments and diversify their trading portfolio according to their preferences and trading strategies.

Account Types

AMarkets offers a total of 4 account types: crypto, fixed, standard, and ECN. The minimum deposit to open an account is MBT10, $100, $100, and $200 respectively. It also offers an Islamic account option for traders who adhere to Islamic rules on trading. It also provides traders with a demo account, which can develop trading skills and reduce trading risk for traders.

Standard: The standard account is for beginning and experienced traders. It offers a floating spread (starting from 1.3 pips), zero transaction fees for FX and metals, and supports Instant and Market execution. The minimum initial deposit requirement is $100/€100, and traders can access up to 1:3000 leverage. The trading hours start Monday at 00:00 and end Friday at 23:00 Eastern European Time (EET). The account is denominated in USD and EUR. Clients also get negative balance protection.

Fixed: The fixed account has a fixed spread, so it's ideal for clients who prefer to pay a fixed amount for each trade. It is suitable for position trading. It shares many similarities with the standard account. The differences are that it has a fixed spread and offers only 28 Forex trading instruments instead of the 44 currency pairs offered by the standard account.

ECN: The ECN features direct order execution at the Prime broker. It is suitable for scalping due to its swift order execution speed. The minimum deposit is $200 €200, and the spread starts from as low as 0 pips. Users of this account will pay a commission charge of $2.5 / €2.5 per 1 lot per side. It offers all trading instruments and offers negative balance protection. Stop out the requirement is 40%, while the margin for a hedged position is 50%.

Crypto: The crypto account is denominated in MBT (1 MBT = 0,001 BTC) and shares similarities with the Standard account. It offers the lowest leverage (1:100) and spreads floating from 1.3 pips. Users of the Crypto account have access to all trading instruments and negative balance protection.

Islamic account (swap-free): Clients who want to comply with Sharia law can ask for an Islamic account. The Islamic account is a variation of the Fixed, Standard, and ECN accounts with no swap charges or additional fees. It is not available for Crypto accounts. To use the Islamic account, open any of the supported accounts and send a request to activate the Islamic option in the Personal Area. The swap-free service does not apply to stocks, indices, cryptocurrencies, commodities, and bonds.

Demo Account: AMarkets provides a demo account that allows you to try out the financial markets without the risk of losing money.

Spreads & Commissions

If you want to trade with AMarkets, we recommend that you take the time to calculate these transaction costs. As for the spread, we have given a brief explanation when describing account types. When it comes to the ECN Account, users of this account will pay a commission charge of $2.5 / €2.5 per 1 lot per side. For the other three account types, AMarkets website shows that there are no commission fees.

Leverage

AMarkets provides traders with a maximum leverage of up to 1:3000, which is considered to be one of the highest leverage options available in the forex trading industry. This generous leverage can be advantageous for experienced and professional traders who are looking to maximize their potential profits. However, it is crucial to acknowledge that high leverage also carries a higher level of risk.

It is important to note that the maximum leverage of 1:3000 is applicable to standard trading accounts, whereas the Crypto account offers a maximum leverage of 1:100. Traders should consider their trading strategy and risk management practices when deciding on the appropriate leverage size for their specific needs.

How to Open an Account？

To open an account with AMarkets, you can follow these general steps:

1. Visit the official website of AMarkets at https://www.amarkets.com/. Locate the “Open Account” button on the homepage and click on it.

2. You will be redirected to the account registration page. Fill in the required information accurately, including your name, email address, phone number, and country of residence.

3. Choose the account type that suits your trading needs. AMarkets typically offers different types of accounts, such as Standard, ECN, or Islamic accounts, each with its own features and trading conditions. Review the account types and select the one that aligns with your preferences.

4. Read and agree to the terms and conditions of AMarkets. Make sure to understand the risks involved in trading and the broker's policies. Complete the registration process by clicking on the “Open Account” button.

5. Once your account is successfully registered, you may receive a confirmation email with further instructions. Follow the provided instructions to verify your email address and activate your account.

6. After your account is activated, you can proceed to fund your trading account. AMarkets offers various deposit methods, such as bank wire transfers, credit/debit cards, and electronic payment systems. Once your account is funded, you can access the trading platforms provided by AMarkets, such as MetaTrader4 (MT4) or MetaTrader5 (MT5), to start trading in the financial markets.

Trading platforms

AMarkets supports MetaTrader4 and MetaTrader5 in addition to the AMarkets app it offers for iPhone and Android smartphone users.

AMarkets App: The AMarkets App is an ideal solution for people who want to trade with AMarkets on the go. It is available for iPhone, iPad, and Android devices. It offers trading instruments in 7 asset classes and is available in English, Indonesian, Malay, Persian, Russian, Turkish, and Uzbek languages. Users of the app have 24/7 customer support, real-time quotes, live and demo trading, and the ability to deposit and withdraw funds.

MetaTrader4: MT4 is regarded as the best trading platform for beginners and experienced traders. The app offers 30 indicators and supports 9 time frames, a locking option, and a single-thread strategy tester. It is accessible via mobile apps (iOS and Android), web terminals, and PC/MAC downloads.

MetaTrader5: MT5 is an advanced version of the MT4 trading platform. It offers more indicators, time frames, and updated strategy testers compared to the MetaTrader4. It also offers partial order filling, a built-in economic calendar, embedded MQL5 community chat, 6 types of pending orders, market depth, and a hedging option. It's ideal for copy traders (social trading) and algorithmic trading. It is accessible via mobile apps (iOS and Android), web terminals, and PC/MAC downloads.

Bonus

This bonus offer is applicable to clients who have traded on live accounts. The bonus becomes available upon depositing funds into an AMarkets trading account. The offer is applicable to Standard and Fixed accounts opened on the MetaTrader4 and MetaTrader5 platforms using USD or EUR as the account currency. The maximum amount of bonus funds per client is $5,000 / €5,000. Upon deposit, 20% of the deposit amount is credited as a non-withdrawable bonus in the “Credit” field of the client's trading account. The bonus can be utilized in all trading transactions, including draw-downs.

It's important to note that this bonus offer cannot be combined with other bonuses and promotions offered by AMarkets. This is a one-time offer, meaning a client can only receive this bonus once. For further details, clients can refer to the Bonus accrual rules for specific terms and conditions related to the bonus offer.

Deposit & Withdrawal

In terms of deposit and withdrawal, like many other brokers, AMarkets provides a detailed form with important information about currency, payment method, minimum amount, arrival date, fees, etc. The feasible payment methods are MasterCard, Uzcard, Bitcoin, Tether, Litecoin, Ethereum, Advcash, and Etcetera. The clients may pay attention to the withdrawal fees and minimum amounts. Deposits and withdrawals are free, easy, and available with many payment methods.

Educational Resources

The broker offers a wide variety of educational resources, including trading tools, analytics, forex news, VPS hosting, copy trading, and AutoChartist, which traders can use to improve their trading skills and abilities. Other resources include the economic calendar, trading calculators, market sentiment indicators, expert advisors, trading ideas, and trades of the week.

Customer Support

AMarkets' customer support is very diverse and comprehensive. Not only does it have multiple customer support channels, including phone, mail, and online chat, but it also supports 20 different languages and is available 24/7.

Email: support@amarkets.com

Phone Number: +44 3307772222

Social media: Facebook, Instagram, LinkedIn, YouTube, Telegram

Conclusion

AMarkets is a global forex broker for beginners and experienced traders who want a user-friendly platform, plenty of trading instruments, and support for specialized strategies such as copy trading and algorithmic trading. It offers generous leverage, fast order execution, and direct access to global financial markets. It offers different account types for various trading needs and Islamic trading options for those who want to adhere to Sharia laws. Withdrawals and deposits are free on the platform.

It is worth highlighting that AMarkets operates without a license and is not regulated by any recognized financial authority. This lack of regulation may raise concerns for traders who prioritize the safety and security of their funds. It is advisable for traders to exercise caution and conduct thorough research before engaging with unregulated brokers.

FAQs (Frequently Asked Questions)

Q: Is this broker well-regulated？

A: No, it is currently not effectively regulated and you are advised to be aware of its potential risks.

Q: Does this broker offer MT4/MT5？

A: Yes, AMarkets offers both MT4 and MT5 for you to choose from.

Q: How much leverage does this broker offer？

A: The maximum leverage of AMarkets is 1:3000. Please note that this leverage may only be available for some accounts and products. Please consult our articles or the dealer's website for specific information.

Q: What is copy trading？

A: Copy trading is an investment service that allows investors to earn income in the financial markets by following the strategies of experienced traders and copying their trades. Professional traders, in their turn, profit by earning commissions from using Strategies.