Amarkets Review

Amarkets Review

Rating

AMarkets stays focused on using only innovative technologies, which allows the broker to provide a perfect set of trading conditions.

OverView

Company Name
Regulation

FSA SVG

US Traders Accepted
yes
Bonus Type
25% welcome deposit bonus
Bonus Size
25%
Deposit Options
25% welcome deposit bonus
Deposit Currencies
USD. EUR. GBP. NZD. SGD. JPY. CAD. HKD.
Trading Platform
MT4, MT5
Minimum Trade
0.01 lots
Trading Instruments
25% welcome deposit bonus
Online Since
2007
Customer Support Types
Online support 24/7
Languages
English, Russian, Ukranian, Turkish, Farsi, Chinese, Hindi, Thai, Vietnamese, Indonesian and others
Demo Account
Yes
Pros
  •  Low forex CFD fees
  • Free and fast deposit and withdrawal
  • Straightforward account opening
Cons
  •  Product portfolio limited mostly to CFDs
  •  Inactivity fee
  • No 24/7 customer service
Company Name
Regulation

FSA SVG

US Traders Accepted
yes
Bonus Type
25% welcome deposit bonus
Bonus Size
25%
Deposit Options
25% welcome deposit bonus
Deposit Currencies
USD. EUR. GBP. NZD. SGD. JPY. CAD. HKD.
Trading Platform
MT4, MT5
Minimum Trade
0.01 lots
Trading Instruments
25% welcome deposit bonus
Online Since
2007
Customer Support Types
Online support 24/7
Languages
English, Russian, Ukranian, Turkish, Farsi, Chinese, Hindi, Thai, Vietnamese, Indonesian and others
Demo Account
Yes
Pros
  •  Low forex CFD fees
  • Free and fast deposit and withdrawal
  • Straightforward account opening
Cons
  •  Product portfolio limited mostly to CFDs
  •  Inactivity fee
  • No 24/7 customer service

Amarkets Overview

AMarkets is an international company with dozens of offices in Europe and the CIS. It was established in 2007, but its structure has gone through major changes since then. Initially, the company was called AForex. Over time, the brand became a symbol of reliability and European quality service standards. Today, AMarkets is a modern ECN broker, actively developing both “trading for beginners” and professional algorithmic trading.

Regulation and Licensing

One of the best means of determining the safety of a broker like AMarkets is to establish which regulating authorities are watchdogs over its actions.

AMarkets is a member of the Financial Commission, an independent external dispute resolution organization that ensures that traders and brokers resolve their disputes quickly, efficiently, and unbiasedly. The Financial Commission provides insurance for up to €20,000 per claim from its Compensation Fund. In addition, the quality of order execution at AMarkets is audited and assessed monthly by an independent service, Verify My Trade (VMT).

Apart from being a Hong Kong Financial Commission member, AMarkets is also a professional member of the Russian Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN). Regulated brokers will not manipulate market prices, and withdrawal requests will be honored. If AMarkets violates any regulatory rules, their regulated status could be stripped.

Trading Platform

MetaTrader 4

The MT4 platform is the forex industry’s top choice for online trading, offering reliability and convenience. The platform is beginner-friendly but boasts powerful and sophisticated price analysis tools for traders of any level.

The platform includes 30 technical indicators, which are supported on 9 different time frames. There’s also a single thread strategy tester, access to global news and the option to use automated strategies with trading robots (Expert Advisors).

AMarkets MetaTrader 4
AMarkets MetaTrader 4

MetaTrader 4 can be run directly from an internet browser, or you can download it onto your Windows or MacOS computer.

MetaTrader 5

MT5 is the revised version of MT4, offering superior tools for comprehensive analysis of the markets and access to copy-trading. Traders enjoy 38 pre-loaded indicators supported by 21 time frames, a built-in economic calendar, an updated strategy tester, 6 types of pending orders, an embedded community chat, Depth of Market (DoM) and hedging options.

AMarkets MetaTrader 5
AMarkets MetaTrader 5

MT5 is also available as the Web Trader version, or the downloadable terminal for Windows and MacOS users. Both solutions offer the same features and functionality.

AMarkets Account Types

AMarkets offers traders a choice between three main accounts namely a Standard, Fixed, and ECN account. Each of these accounts has its own competitive and dynamic trading conditions following the table:

Account Type Feature

Standard Account

  • Instant/market execution
  • A minimum deposit of 100 USD or currency equivalent in EUR.
  • Leverage of up to 1:1000.
  • Order volume starts from 0.01 lots with step 0.01.
  • Spreads from 1.3 pips.
  • Zero-commission trading.
  • A stop-out level of 20%
  • The option of opening an account either in USD or in EUR, and
  • The option to convert this account to that of an Islamic Account.

Fixed Account

  • Instant/market execution
  • An initial deposit of 100 USD or currency equivalent in EUR.
  • Leverage of up to 1:1000.
  • Order volume from 0.01 lots with step 0.01.
  • Fixes spread which start from 3 pips.
  • Zero-commission trading when using this account.
  • Stop-out level of 20%.
  • The option of opening a live account either in USD or in EUR, and
  • The option of converting this live trading account to an Islamic Account.

ECN Account

  • Market execution on trades
  • An initial deposit of 200 USD or currency equivalent in EUR.
  • Leverage of up to 1:200.
  • Order volume from 0.01 lots with step 0.01.
  • Floating spreads from 0.0 pips.
  • Commissions of $2.5/€2.5 charged per lot.
  • Stop-out level of 40%.
  • The option of opening a live account either in USD or in EUR, and
  • The option of converting this live trading account to an Islamic Account.

Fees, Spreads, and Commissions

Making AMarkets review, we made fees, spreads, and commissions clear:

  1. To be able to fund your trading account, you have to complete the identity verification;
  2. The minimum initial deposit is $100/€100;
  3. AMarkets’ withdrawal fees vary on the payment method;
  4. AMarkets does not charge a fee for inactive accounts;
  5. AMarkets does not charge deposit fees.

With AMarkets, spreads start from 0.0 pips on EUR/USA. Spread types and commission fee charges with AMarkets depend on the type of live account, the financial instrument, and the market conditions. Spreads and commissions that traders can expect from AMarkets are from 1.3 pips on the Standard Account, from 3 pips on the Fixed Account, and 0.0 pips on the ECN Account. On the ECN Account, commissions of $2.5/€2.5 are charged per lot.

Thus, the AMarkets review shows that commission fees can differ depending on the trading type, financial asset type, and your trading account level.

Leverage

With a maximum leverage of 1:3000, starting at 1:1000, upon executing a total of 10 FX and gold trades with a cumulative volume of 5 lots, the leverage will be adjusted to 1:3000.

Leverage is a facility that enables you to get a much larger exposure to the market you are trading than the amount you deposited to open the trade. It is expressed as a ratio of 50:1, 100:1, or 500:1.

Assuming you have $1,000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate to 500:1. Margin is the amount of collateral to cover any credit risks that may arise during your trading operations.

It is expressed as the percentage of position size (e.g., 5% or 1%), and you have to have funds in your trading account to ensure sufficient margin. AMarkets provides high leverage of up to 1:1000, while most brokers give maximum leverage between 1:200 and 1:400. Leveraged products, such as forex trading, magnify your potential profit and increase your possible loss.

Payment Methods

Deposits

There are plenty of payment options available, including wire transfer, bank cards and electronic payment systems such as Skrill and FasaPay. AMarkets does not charge for deposits and processing times are instant for all methods, except for bank transfers, which take 3 – 5 business days.

Withdrawals

Withdrawal fees start from 0.5% for Perfect Money and Fasapay. Bank cards are charged from 2.2% and fees for bank transfer will depend on your bank. The minimum withdrawal amount for most methods is 10 USD or EUR. Processing times are generally instant but can be up to a few hours for bank cards and up to 5 days for bank transfer.

Customer Support

As part of our AMarkets review, we assess customer service options, response times, and the effectiveness of resolving trading platform issues. AMarkets currently supports a limited number of contact channels, including live chat, phone, and email.
AMarkets has received a D grade for its support rating, primarily due to occasional slow responses and instances where queries were left unanswered. However, it's worth noting that there have been improvements in customer support features compared to previous assessments, as AMarkets now offers live chat, email, and phone support.
Live Chat Support at AMarkets
AMarkets now provides LiveChat Support as one of its customer service options.
Email Support at AMarkets
AMarkets has introduced Email Support, allowing users to reach out through email for assistance.
Phone Support at AMarkets
AMarkets now offers Phone Support, providing users with an additional avenue for resolving queries via phone communication.

Conclusion

AMarkets can be summarily described as a worthwhile company for potential traders and is a reliable award-winning FX broker with many years of experience in the industry, which offers a good variety of trading instruments, platforms, account types, and solutions.AMarkets is a leading online broker that provides direct access to global markets and executes nearly 10,000 trades per day, with comfortable trading conditions that include no commission and tight spreads.Each of AMarkets’ account types comes with unique features and benefits for both beginner and advanced traders and users can trade on globally recognized trading platforms.

FAQ's

How do I open a live account?

You can open a live account by visiting the Amarkets website and clicking on the “Open Account” button. You will be required to provide some personal information and choose your account type.

What is the minimum deposit?

The minimum deposit for a live account is $100.

What are the different account types offered by Amarkets?

Amarkets offers three different account types: Standard, Fixed, and ECN. Each account type has different features and benefits.

What documents do I need to provide to verify my account?

You will need to provide a copy of your government-issued ID and a proof of address document to verify your account.