AMarkets Review

AMarkets is an offshore regulated broker that offers brokerage services to clients in over 100 Latin American, Asia, and African countries. They focus on providing innovative trading solutions by leveraging new technologies and excellent trading conditions. 

They offer multiple trading instruments in six asset classes, including Forex, Stocks, and Cryptocurrency. They support MetaTrader 4 and MetaTrader 5. They also offer their trading app for Android and iOS users.

Traders have access to multiple language choices and up to 1:3000 leverage. They are ideal for traders who need brokers that offer trading solutions in their native languages.

This AMarkets broker review further explains all you need to know about this broker. 

Supported Countries

AMarkets offers financial services to over 100 countries around the world. These countries include the Russian Federation, Ukraine, Uzbekistan, Indonesia, Turkey, Malaysia, Kazakhstan, Nigeria, Belarus, and South Africa.

However, the AMarkets trading platforms are unavailable to EU/EEA/UK residents. As such, residents in Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland may not use AMarkets financial products. 

Other countries that are not supported include Angola, Armenia, Afghanistan, Benin, Botswana, Burundi, Cape Verde, Cambodia, Chad, Comoros, Ethiopia, Gabon, Gambia, Grenada, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, Iraq, Jamaica, Japan, Kiribati, Kosovo, Laos, Lesotho, Liberia, Madagascar, Malawi, Maldives, Mauritania, Mongolia, Montenegro, Mozambique, Namibia, Nauru, Nepal, New Zealand, Nicaragua, Niger, North Korea, Palestine, Paraguay, Republic of the Congo, Senegal, Sierra Leone, Somalia, South Sudan, Sudan, Suriname, The United Kingdom, The United States of America, Zambia and Zimbabwe.

Customer Service Rating

AMarkets is rated "excellent" on Trustpilot with a 4.6 rating based on 897 ratings. This high rating underscores the broker's satisfactory customer service. 

Positive reviews lauded the wide variety of trading instruments and generous leverage. They also note that the trader offers a simplified registration process, a user-friendly interface, and industry-standard withdrawal processes.

The broker's customer support team responds promptly to reviews on the Trustpilot page, indicating their commitment to ensuring the best user experience.

AMarkets Trading Platforms

AMarkets supports MetaTrader 4 and MetaTrader 5 in addition to the AMarkets app they offer 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.

• MetaTrader 4: 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.

• MetaTrader 5: MT5 is an advanced version of the MT4 trading platform. It offers more indicators, time frames, and updated strategy testers compared to the MetaTrader 4. 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.

Type of Trading Accounts on AMarkets

AMarkets has four trading accounts designed for amateurs and professional traders. These are the Standard, Fixed, ECN, and Crypto accounts. They also offer an Islamic account option for traders who adhere to Islamic rules on trading.

• 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.

Trading Denominations on AMarkets

There are two base currencies in which AMarkets broker accounts can be denominated: USD and EUR. However, the Crypto account is denominated in MBT. 1 MBT is equivalent to 1 bitcoin.

Company Structure

AMarkets (AMartkers LTD) is a brokerage services provider for clients in Latin America, Asia, and CIS. It was founded on 1 October 2007 as AForex but rebranded to AMarkets. The company strives to be a modern ECN broker for beginners, veterans, and professional algorithmic trading.

The company has participated in several international exhibitions and organized educational webinars on trading-related topics. It also partners with top-tier liquidity providers: Barclays, BNP Paribas, Credit Suisse, Deutsche Bank, Morgan Stanley, and UBS.

The broker became a Commission on Regulation of Financial Markets Participants Relationships (KROUFR) member in September 2010. It joined CRFIN, The Center for Regulation in OTC Financial Instruments and Technologies, in June 2012 and The Financial Commission in September 2013.

AMarkets Licenses and Regulatory Compliance

AMarkets is an offshore regulated broker. Even so, the broker has taken steps to assure its clients of its commitment to providing a safe trading platform and securing their funds.

• The Financial Commission: AMarkets has been a member of The Financial Commission since 2013. The Financial Commission is an independent financial services mediator that ensures the transparency and integrity of a broker. The commission provides a Compensation Fund for up to €20,000 per trade claim.

• Verify My Trade: AMarkets opens its books monthly to an independent third party, Verify My Trade, for auditing. The monthly audits ensure that AMarkets comply with best execution standards. 

• FSA: AMarket is also regulated by the FSA as АMarkets LTD with registration no. 22567 BC 2015.

AMarkets Customer Protection 

As a member of The Financial Commission, AMarkets is a party to the Compensation Fund. The fund, formed by allocating 10% of the monthly membership dues, guarantees the insurance coverage of the dispute up to 20,000€ if the broker refuses or cannot comply with The Financial Commission's decision.

Trading Information

AMarkets Broker provides brokerage services that include a wide option of trading instruments and various deposit and withdrawal methods.

Tradable Instruments

Tradable instruments on AMarkets trading platforms include

• 44 Currency Pairs

• 7 Metals

• 17 Indices

• 11 Commodities

• 2 Bonds

• 433 Stocks

• 20 ETF

• 27 Cryptocurrencies

AMarkets Leverage

AMarket offers one of the biggest leverage sizes in the forex trading industry. The standard leverage goes up to 1:3000, but traders using the Crypto account can only access up to 1:100 leverage. 

The amount of leverage available depends on the equity. Here is a comparison table on the leverage available to forex traders.

Deposits and Withdrawals on AMarkets

Deposits and withdrawals are free, easy, and available with many payment methods

Deposits

You can deposit funds into your trading account via your browser's area or the AMarkets app. 

However, you must verify your identity and funding method before funding your trading account. AMarkets do not allow third-party deposits.

All deposits are free, and AMarkets will compensate you for any commission you pay using your preferred depth method regardless of the amount of the deposited fund.

Withdrawal

AMarkets does not charge with withdrawals. However, the payment system you use will charge you transaction fees. The fees go to the payment processor and not AMarkets.

You can withdraw via a web browser through the Personal area in the Withdrawal section or the AMarkets app. Note that you must verify your payment details before you can withdraw.

AMarkets Trading Education and Training

AMarkets offer limited educational resources. The knowledge base section contains blogs on trading-related topics and a detailed FAQ. Traders can also partake in the webinars organized by the company.

The broker also offers market research on trading tools, analytics, forex news, VPS hosting, copy trading, and AutoChartist. Other resources include the economic calendar, trading calculators, market sentiment indicators, expert advisors, trading ideas, and trades of the week.

FAQs

Is AMarkets a Scam?

No, AMarkets is not a scam. However, it is not regulated by any local regulatory bodies. It is, of course, regulated by the Financial Commission.

How do I open an AMarkets forex trading account?

Visit AMarkets and select "Open account" from the menu at the top of the page. 

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.

They offer 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. 

We recommend it for traders that want to trade in their native language due to the multilingual support that the broker offers on its website, trading app, and support channels.