AMarkets Review 2023: Pros and Cons of Trading with AMarkets Review

What is AMarkets?

AMarkets, a multinational corporation, boasts numerous branches across Europe and the Commonwealth of Independent States (CIS). Since its establishment in 2007, the company has undergone significant structural transformations. Originally known as AForex, it gradually evolved into a renowned symbol of dependability and exceptional service standards in Europe. Presently, AMarkets stands as a contemporary ECN broker, actively advancing both novice-friendly trading and sophisticated algorithmic trading for professionals.

What Are the Pros and Cons of Trading with AMarkets?

Pros of AMarkets

  • The order execution speed at AMarkets is impressively fast, typically ranging between 35 and 50 milliseconds. This speed surpasses the average market indicator of 200 to 500 milliseconds.
  • The order execution speed at AMarkets is impressively fast, typically ranging between 35 and 50 milliseconds. This speed surpasses the average market indicator of 200 to 500 milliseconds.
  • AMarkets Copy Trading is the latest cutting-edge platform for passive investment.
  • AMarkets features an exclusive laboratory dedicated to developing algorithmic trading instruments.
  • Each client at AMarkets is entitled to a compensation fund of up to EUR 20,000.
  • A demo account is offered.
  • Islamic account offered.
  • MetaTrader 4 and MetaTrader 5 are offered.
  • Competitive trading conditions are offered.

Cons of AMarkets

  • Clients from 63 countries have not accepted.
  • Offshore regulation.
  • Utilizing expert advisors with default settings is generally unprofitable. It is strongly advised against launching templates without conducting preliminary testing.
  • Average Forex and stock index CFD fees.
  • The high minimum deposit requirement at AMarkets can pose a challenge for novice traders.

AMarkets Reviews Account Opening

To set up a Demo Account, follow these step-by-step instructions:

  • Step 1: Visit the AMarkets website and locate the account creation section.
  • Step 2: Click on the option to open a Demo Account.
  • Step 3: Fill in the necessary information, such as your name, email address, and preferred username.
  • Step 4: Choose a strong password that meets the specified criteria.
  • Step 5: Select the account type as either a “Demo” or a “Practice” account.
  • Step 6: Optionally, provide additional details such as your country of residence or phone number, if prompted.
  • Step 7: Read and agree to the terms and conditions associated with the Demo Account.
  • Step 8: Verify your email address by clicking the verification link sent to your registered email.
  • Step 9: Once verified, use the provided username and password to log in to your newly created Demo Account.
  • Step 10: Take some time to explore the trading platform and acquaint yourself with its features and tools.
  • Step 11: Begin practicing trading with virtual funds and experiment with various strategies.
  • Step 12: Utilize the learning resources available at AMarkets to enhance your trading skills.
  • Step 13: Monitor your trades, analyze market trends, and keep a record of your progress.
  • Step 14: Utilize the Demo Account to build confidence and gain experience before transitioning to a live account.

Remember, the specific steps may vary based on AMarkets' procedures and requirements. For additional guidance during the account setup process, refer to the official documentation or reach out to their customer support.

How Many Account Types Does AMarkets Offer?

XM presents a diverse range of account types, each featuring unique pricing structures, base currencies, minimum deposit requirements, and contract sizes.

AMarkets Account Standard Account Fixed Account ECN Account
Min Deposit The minimum deposit required at AMarkets is $100/R1 490 or the equivalent amount in EUR. The minimum deposit required at AMarkets is $100/R1 490 or the equivalent amount in EUR. The minimum deposit required at AMarkets is $200/R2 970 or the equivalent amount in EUR.
Leverage AMarkets offers leverage of up to 1:1000 to its traders. AMarkets offers leverage of up to 1:1000 to its traders. AMarkets offers leverage of up to 1:200 to its traders.
Pricing No commission, but a higher spread No commission, but a higher spread There is a commission, but the spread is very low
Spreads from 1.3 pips Fixed spreads from 3 pips. Floating spreads from 0.0 pips.
Contract size The order volume at AMarkets starts from 0.01 lots and increments by 0.01. The order volume at AMarkets begins at 0.01 lots, with a step size of 0.01. The order volume starts at 0.01 lots and increases in increments of 0.01.
Commission Fee No No AMarkets applies a commission fee of $2.5/€2.5 per lot traded.

STANDARD Accounts:

  • Unlimited initial deposit
  • Instant execution of trade orders
  • Leverage of 1:1000
  • Floating spreads starting from 1.3 pips
  • No commission
  • 20% stop out level
  • Supported currencies: RUB, EUR, USD

FIXED Accounts:

  • Unlimited initial deposit
  • Instant execution of trades
  • Leverage of up to 1:1000
  • Fixed spreads starting at 3 pips
  • No commission
  • 20% stop out level
  • Supported currencies: EUR, RUB, USD

ECN ACCOUNTS:

  • Market execution of trades
  • Initial deposit starting at $200
  • Leverage of up to 1:200
  • Order volume ranging from 0.01 to 100 lots
  • Floating spreads starting from 0 pips
  • $5 commission per lot
  • 40% stop out level
  • Supported currencies: USD, RUB, EUR

AMarkets Bonus

AMarkets has introduced various bonus offers and promotions to provide trading incentives for its clients. It's important to note that these promotions and bonus offers are subject to specific time limitations. As of the current writing, the following bonus offers and promotions are available at AMarkets:

When transferring your affiliate reward to your trading account, you have the opportunity to receive a trading bonus of 20%. Here are the conditions for this bonus offer:

  • The bonus program is applicable to Standard and Fixed accounts on the MetaTrader 4 and MetaTrader 5 platforms.
  • The maximum amount of bonus funds per client is $5,000/€5,000.
  • 20% of the partner's affiliate reward transferred to the trading account is credited as a bonus, which will be displayed in the “Credit” field and can be used for all trading transactions.
  • The bonus itself cannot be withdrawn. However, any profits earned using the bonus funds can be withdrawn without any restrictions or additional conditions.
  • This offer cannot be combined with any other bonuses or promotions offered by AMarkets.
  • If the transfer amount from the affiliate reward to the trading account is $300 or more, the partner can receive this bonus each time.

Please note that these conditions are specific to the time of writing and may be subject to changes. It's advisable to refer to the official AMarkets website for the most up-to-date information regarding bonus offers and promotions.

What Is the Leverage Offered by AMarkets?

AMarkets offers its clients a wide range of leverage options on Standard, Fixed, and ECN accounts, ranging from 1:1 to 1:3000.

AMarkets Review Deposit and Withdrawal

AMarkets offers its clients a variety of payment methods to facilitate transactions. The available payment modes include:

  • 💳 Credit or debit cards (Visa, MasterCard)
  • 💳 Bank wire transfer
  • 💳 Skrill
  • 💳 Neteller
  • 💳 FasaPay
  • 💳 Perfect Money
  • 💳 WebMoney
  • 💳 OKPAY
  • 💳 Union Pay

Clients can make deposits in USD, EUR, or RUB currencies. Deposits are free of charge. However, please note that there are withdrawal fees and minimum withdrawal amounts applicable. AMarkets provides multiple withdrawal options, including bank wire transfers, credit cards, Neteller, WebMoney, and more. Each method has its own specific fees, commissions, minimum amounts, and processing times associated with it.

AMarkets Review Commissions & Fees

AMarkets provides competitive spreads, starting from 0.0 pips on EUR/USD. The actual spreads and commission charges may vary depending on the type of live account, the specific financial instrument, and the prevailing market conditions. Here is an overview of the spreads and commissions offered by AMarkets:

  • Standard Account: Expect spreads of approximately 1.3 pips.
  • Fixed Account: Enjoy spreads starting at 3 pips.
  • ECN Account: Benefit from spreads as low as 0.0 pips.
  • For the ECN Account, there is a commission of $2.5/€2.5 per lot charged.

Please note that spreads and commissions are subject to change. It is recommended to visit the official AMarkets website or contact their customer support for the latest and most accurate information regarding spreads, commissions, and account types.

AMarkets Trading Instruments

AMarkets provides a diverse range of trading instruments for its clients. Here are the available options:

  • Forex: Trade approximately 55 currency pairs, including AUD/USD, GBP/USD, USD/JPY, USD/NOK, USD/RON, and USD/NOK.
  • Equities CFDs: Engage in trading equity CFDs of major companies such as Apple Inc, Caterpillar Inc, Best Buy Co, Baxter International Inc, and others.
  • Metals: Participate in gold and silver trading through the broker.
  • Crypto pairs: Trade crypto pairs such as Ethereum Classic/USD, BTC/USD, LTC/USD, and more.
  • Bonds: Access trading opportunities in bonds such as TNOTE, SCHATZ2Y, and BUND10Y.
  • Commodities: AMarkets offers trading in commodities like aluminum, coffee, cocoa, copper, corn, nickel, and cotton.
  • Indices: Engage in trading indices such as CZKCash, EU50, BRACOMP, and AUS200.

Please note that this list is not exhaustive and the availability of specific trading instruments may be subject to change. For the most up-to-date and comprehensive information on available trading instruments, it is recommended to refer to the official AMarkets website or contact their customer support.

AMarkets Trading Platforms

AMarkets provides comprehensive support for the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, along with their dedicated mobile app designed for both iPhone and Android users.

AMarkets App: The AMarkets App is specifically developed to offer convenient trading on the go. It is fully compatible with iPhone, iPad, and Android devices. The app provides a diverse range of trading instruments across 7 asset classes and supports multiple languages, including English, Indonesian, Malay, Persian, Russian, Turkish, and Uzbek. Users of the app enjoy 24/7 customer support, real-time quotes, access to both live and demo trading accounts, and seamless deposit and withdrawal capabilities.

MetaTrader 4 (MT4): MT4 is a highly acclaimed trading platform suitable for traders of all experience levels. It offers access to an extensive selection of 30 indicators, supports 9 different time frames, provides the ability to lock positions, and features a single-thread strategy tester. Traders can access MT4 through mobile apps (available for both iOS and Android devices), web terminals, as well as PC/MAC downloads, ensuring flexibility and convenience for their trading activities.

MetaTrader 5 (MT5): MT5 is an advanced version of the MT4 platform, equipped with a wide range of features and tools. It offers an expanded selection of indicators, increased flexibility in selecting time frames, an enhanced strategy tester, partial order filling functionality, a built-in economic calendar, integrated MQL5 community chat, support for 6 types of pending orders, access to market depth information, and the option for hedging. MT5 is particularly well-suited for copy traders (social trading) and algorithmic trading strategies. Traders can access MT5 through mobile apps (available for both iOS and Android devices), web terminals, as well as PC/MAC downloads, providing them with versatility and a variety of options for their trading needs.

AMarkets Safety and Security

AMarkets is regulated by the following authorities:

To ensure the safety of clients, it is important to consider the regulatory bodies overseeing the operations of a broker like AMarkets. Although AMarkets is not regulated by prominent financial regulators such as CySEC or the FCA, it is registered with the Financial Services Authority (FSA) of Saint Vincent under registration number 22567 IBC 2015.

The Financial Services Authority of Saint Vincent and the Grenadines requires AMarkets to maintain segregation of client funds from the company's operating accounts and ensures that the company's assets are diversified among reputable global banks. Furthermore, AMarkets is a category A member of the International Financial Commission, which serves as an independent self-regulatory organization and external dispute resolution body.

The Financial Commission safeguards the interests of traders and provides insurance coverage up to a specific amount per case. AMarkets' execution quality is audited monthly by the independent Verify My Trade to ensure compliance with the best execution standards. To maintain certification, AMarkets must submit 5,000 trades per month for comparative analysis against top-tier liquidity providers.

In addition to its membership in the Hong Kong Financial Commission, AMarkets is a professional member of the Russian Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN). Regulated brokers are strictly prohibited from manipulating market prices, and they are obligated to honor withdrawal requests. Any violation of regulatory rules by AMarkets could lead to the revocation of its regulated status.

AMarkets Review Research and Education

The broker not only provides excellent FX trading conditions but also offers educational resources to cater to traders at all levels, including beginners, intermediate, and advanced traders. These resources include video tutorials and a comprehensive FAQ section.

In addition to educational materials, AMarkets provides traders with various tools to enhance their trading success:

VPS Servers: AMarkets offers virtual private servers (VPS) to ensure uninterrupted trading even in the event of power outages, internet failures, or technical issues. The VPS keeps clients connected to the market at all times.

Economic Calendar: Traders can access an economic calendar that displays important events and daily indicators in the FX markets. This helps traders stay informed and make well-informed trading decisions.

Trading Robots: AMarkets provides an Expert Advisor (EA) database consisting of various trading systems, including scalping, trend FX robots, Martingale, news trading, and more. This database is available free of charge and features over 100 advisors.

Autochartist: This graphical technical analysis tool is offered by AMarkets, allowing traders to make informed trading decisions based on chart patterns and other technical indicators.

These tools are designed to assist traders in their trading activities and help them make more informed decisions in the forex market.

AMarkets Customer Service Rating

AMarkets has achieved an “excellent” rating on Trustpilot, boasting a solid 4.7 rating derived from 851 reviews. This high rating reflects the broker's commendable customer service.

Positive reviews highlight the extensive range of trading instruments and generous leverage provided by AMarkets. Additionally, reviewers appreciate the simplified registration process, user-friendly interface, and industry-standard withdrawal procedures offered by the broker

The customer support team of AMarkets demonstrates its dedication to providing an optimal user experience by promptly responding to reviews on the Trustpilot platform.

Conclusion

AMarkets is a renowned worldwide forex broker that caters to both novice and experienced traders seeking a user-friendly platform, an extensive range of trading instruments, and support for specialized strategies such as copy trading and algorithmic trading. With AMarkets, traders gain access to generous leverage, swift order execution, and direct connectivity to global financial markets.

The broker offers diverse account types tailored to meet various trading requirements, and it also provides Islamic trading options for individuals adhering to Sharia laws. Moreover, withdrawals and deposits on the platform are free of charge.

We highly recommend AMarkets to traders who prefer trading in their native language, as the broker offers multilingual support across its website, trading app, and customer support channels.

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