Amenda Markets-Some Important Points about This Broker

Overview of Amenda

Amenda, a company operating for 5-10 years, is a registered investment broker in Latvia. While exceeding AMF regulations, they have been flagged by the FCA as a suspicious clone.

They offer a variety of tradable instruments, including forex, commodities, indices, and stocks, through the widely used MT4/5 trading platform.

Customer support is available via phone and email, and educational resources are limited to articles.

Regulatory Status

Amenda, which was regulated by the Autorité des Marchés Financiers (AMF), currently stands as an entity that has exceeded the regulatory standards set forth by the French authority. Holding a Common Financial Service License under the jurisdiction of France, Amenda operated under the legal framework established by the AMF. The license, numbered 65763, was granted to Amenda Markets AS IBS, effective from July 21, 2016.

On the other hand, the Financial Conduct Authority (FCA) of the United Kingdom has taken a different stance on Amenda's regulatory standing. The FCA has identified Amenda as a suspicious clone entity, casting doubt on its legitimacy and activities. Operating under a European Authorized Representative (EEA) license, Amenda Markets AS IBS falls under the regulatory purview of the FCA, with license number 753412. However, the FCA's designation of Amenda as a suspicious clone, effective since August 19, 2016.

Pros and Cons

Pros:

• Experience and stability: Amenda's long-standing presence of 5-10 years in the market suggests reliability and stability, providing traders with confidence in their services.

• A range of market instruments: Amenda offers a wide array of trading options including Forex, Commodities, Indices, and Stocks, allowing traders to diversify their portfolios and explore various markets.

• Phone and email support available: Amenda provides multiple channels for customer support, enhancing accessibility and responsiveness for traders seeking assistance.

• Offers articles for learning: Amenda's educational resources, such as articles, enable traders to enhance their knowledge and skills to make informed trading decisions.

Cons:

• Potential regulatory issues: Concerns about potential regulatory issues or past controversies may undermine trust and credibility in the company, leading to uncertainty among traders.

• Limited trading platform options: Offering only a limited selection of trading platforms as MT4/5 may restrict traders who prefer alternative platforms or advanced features not available on the provided platforms.

• Mentioned as a “suspicious clone” by FCA: The mention of a “suspicious clone” by the FCA is concerning, which could affect the company's reputation.

Market Instruments

Amenda offers a range of market instruments for the trading preferences of its clients, encompassing forex, commodities, indices, and stocks. These instruments serve as avenues for investors to participate in various sectors of the financial markets, each possessing unique characteristics and opportunities for potential returns.

Forex, or foreign exchange, represents the largest and most liquid financial market globally, where currencies are traded against one another. Amenda provides access to a wide array of currency pairs, allowing traders to speculate on the fluctuations in exchange rates between different currencies, such as EUR/USD, GBP/JPY, or USD/JPY.

Commodities form another essential component of Amenda's market offerings, encompassing a range of raw materials and primary goods, including precious metals (gold, silver), energy resources (crude oil, natural gas), and agricultural products (wheat, corn). Trading commodities enables investors to capitalize on price movements driven by factors such as supply and demand dynamics, geopolitical events, and macroeconomic trends.

Indices represent a basket of stocks that collectively reflect the performance of a specific segment of the financial markets, such as a particular industry, region, or market sector. Amenda allows traders to engage with popular indices from around the world, such as the S&P 500, Dow Jones Industrial Average, FTSE 100, and DAX 30, providing exposure to broader market trends and opportunities for portfolio diversification.

Stocks, or equities, represent ownership stakes in publicly traded companies, offering investors the opportunity to profit from capital appreciation and dividends. Amenda facilitates trading in stocks listed on major global exchanges, allowing clients to invest in companies across various industries and geographic regions, such as technology giants like Apple and Google, multinational corporations like Coca-Cola and Toyota, or emerging market firms.

How to Open an Account？

Opening an account with Amenda is a straightforward process that can be completed online in a matter of minutes. Here's a breakdown of the steps involved:

1. Visit the Amenda website and click “Open Account.”

2. Fill out the online application form: The form will request your personal information Be sure to have your identification documents (passport or ID card) and proof of address handy for uploading.

3. Fund your account: Amenda offers various deposit methods, including bank transfers, credit/debit cards, and e-wallets. Choose your preferred method and follow the instructions to complete the deposit.

4. Verify your account: Once your account is funded, you'll need to verify your identity and address. This typically involves submitting scanned copies of your ID documents and proof of address.

5. Start trading: Once your account is verified, you're ready to explore the Amenda trading platform and start making trades.

Trading Platform

Amenda, a prominent brokerage firm, offers traders access to MetaTrader 4 (MT4) and MetaTrader 5 (MT5), two leading trading platforms developed by MetaQuotes Software.

MT4 is celebrated for its user-friendly interface and comprehensive features, for traders of all experience levels. It provides a wide array of technical analysis tools, indicators, and customizable charts, facilitating informed decision-making. Additionally, MT4 supports automated trading through Expert Advisors (EAs), enabling traders to implement and test their strategies effectively.

On the other hand, MT5 builds upon the success of MT4 by introducing advanced functionalities, including expanded asset classes such as stocks and futures, an enhanced strategy tester, and additional analytical tools like depth of market (DOM) and an economic calendar.

Customer Support

Phone Support (+371 6677 7830): Amenda provides direct phone support at +371 6677 7830. Customers can speak directly with our customer support team for immediate assistance with trading inquiries or account-related concerns.

Email Support (support@amendafx.com): Customers can reach out via email to support@amendafx.com. Email inquiries receive prompt responses during working hours and allow for the attachment of relevant documents or screenshots.

Educational Resources

Articles are invaluable educational tools that offer comprehensive coverage, expert insights, and accessibility for learners. Authored by industry professionals and academics, these resources present structured content in an easily navigable format, incorporating multimedia elements to enhance engagement and understanding. Continuously updated to reflect the latest developments, articles provide current and credible information sourced from reputable publications and experts.

Conclusion

Overall, Amenda offers several strengths, including experience, a range of market instruments, accessible customer support, and educational resources.

However, concerns about potential regulatory issues and limited trading platform options may affect its appeal to some traders. Additionally, being mentioned as a “suspicious clone” by the FCA could further undermine trust and confidence in the company.

FAQs

Q: How long has Amenda been in operation？

A: Amenda has been in operation for 5-10 years, demonstrating a level of experience and stability in the market.

Q: What financial instruments can I trade with Amenda？

A: Amenda offers a range of market instruments, including Forex, Commodities, Indices, and Stocks.

Q: What trading platforms does Amenda offer？

A: Amenda offers the MT4/5 trading platforms, providing traders with powerful and versatile tools for trading.

Q: How can I contact customer support at Amenda？

A: You can contact Amenda's customer support team by phone at +371 6677 7830 or via email at support@amendafx.com.

Q: Does Amenda provide educational resources for traders？

A: Yes, Amenda offers educational resources in the form of articles, allowing traders to enhance their knowledge and skills.

Q: Is there any regulatory concern associated with Amenda？

A: While Amenda is regulated by the AMF, it has been mentioned as a “suspicious clone” by the FCA (Financial Conduct Authority), raising concerns about potential regulatory issues.