Amarkets.today Review Is AMarkets A Legit Forex Broker

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Amarkets.today Review: Is AMarkets A Legit Forex Broker?

AMarkets Review: this is the name of a Forex broker that is located in the offshore region of St Vincent and the Grenadines. Is amarkets.today a legit or scam Forex broker?

When we checked for the location of the broker, the address we found was discouraging. AMarkets is located in an offshore region where Forex trades is not regulated. What this means is simply that no regulatory commission is watching over these kinds of trades. Brokers in this region can trade how they prefer and do not fear the consequences of any regulation.

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This is why, most times, we do not encourage our readers to opt to trade with offshore traders. Since they are not mandated to play by the fair rules of trade, they may misuse invested funds. This is the opposite of what we find with regulated brokers.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

Clients are promised a bonus of 20% on their first deposits and no commission. Stocks of major companies are also made available according to the website. Trading also gives clients a possible $14 per lot back on their accounts.

AMarkets Trading Platform

AMarkets offers traders the MetaTrader 5 trading platform. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

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Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are: currency pairs, shares, CFD, cryptocurrency, metals, indices, and Bonds. The offer of cryptocurrencies is impressive. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

Maximum leverages offered is 1:1000 and while this may seem generous but they could pose danger. High leverages can lead to huge loss of funds as well. Spreads are 0.3 pips on the EURUSD pairs.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on AMarkets

The means of making payments and withdrawals are: VISA, MasterCard, Neteller, WebMoney, FasaPay, Perfect Money, Skrill, and Swift. We find it encouraging that there are e-wallet options.

This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

Minimum deposit required is not mentioned making it difficult to know if it is within the obtainable average of $100 – $250 among brokers or not. Withdrawal charges are not stated for this broker. Sometimes it is better to mention if they apply or not. We do not even find any terms and conditions; this is a shady thing. Traders are expected to sign up for something with unclear conditions.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

The 20% bonus on first deposit offer is discouraging. It is a characteristic of scam brokers and is used to tie down their clients with unrealistic withdrawal conditions.

Is AMarkets Licensed?

No. AMarkets is not a duly licensed Forex broker and is not under any recognized regulatory body. It is located in an offshore region and Forex trading is carried out without regulation in that region. Further, the address is popularly used by scam companies, so this broker seems largely illegitimate.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

To contact the broker or a customer care representative we did not find any means on the page. But, clients can fill a form and will be contacted later by the company.

Conclusion

AMarkets is not regulated and this is a major blow to the image of the company. Its location is also a huge turn off as traders who are familiar with the market know that funds invested offshore are not safe. Even with the impressive trading conditions, we cannot recommend this broker to our readers.

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Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

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