AMarkets Review 2022

AMarkets is an online broker with 15 years of experience providing clients with CFD speculation on forex, crypto, equity and commodity markets. With an active client base of over 350,000 traders, the firm offers high leverage investing through a wide selection of instruments. This 2022 AMarkets review covers the company’s regulation, deposit and withdrawal fees, bonus offers and supported trading platforms.

About AMarkets

Founded in 2007, AMarkets ltd. has expanded from a single office to a global company with hundreds of thousands of active traders. Since its inception, the firm has won multiple awards for its brokerage services and continually adds new asset classes, trading platforms and account types.

AMarkets is subject to regulation from the Financial Services Authority of Saint Vincent and the Grenadines, the local regulator for the Caribbean island upon which the broker has its headquarters.

Markets

Forex

Forex is the most popular global market for financial speculation, with trillions of dollars worth of currency pairs traded every day. AMarkets offers over 40 forex CFD instruments to clients, spanning major, minor and exotic pairs.

Spreads are highly variable and depend on the trading account utilised. For example, ECN spreads start at 0.1 pips on major pairs, the standard STP execution account offers spreads as low as 1.3 pips and the fixed spread account provides major pair spreads from 3.0 pips.

Indices

Sixteen index CFDs are available for trading from exchanges as varied as Australia, Spain and Russia. Also offered are the UK FTSE 100 and six major US indices, including the US dollar index and VIX.

Commissions are charged at $10 per round traded lot on indices, while spreads start from 12 pips on the S&P 500.

Stocks & ETFs

Over 250 stock and ETF markets are available through AMarkets, with top equities from the US, UK and major European markets offered for CFD speculation.

A 0.1% commission is levied on share CFD positions, while spreads can vary dramatically from instrument to instrument.

Cryptocurrencies

Crypto markets are often difficult to access for UK traders due to rules prohibiting FCA regulated brokers from offering crypto derivatives. However, AMarkets provides 15 cryptocurrency instruments to its entire client base, including Bitcoin, Ethereum, Litecoin and Ripple.

Spreads start from $0.11 on Solana and, as with stock CFDs, all crypto markets are subject to an additional 0.1% commission charge.

Bonds

One asset class that sets the firm apart is bonds, with futures-based instruments offered on the US Treasury 10 year note and Euro-bund 10 year bond.

Spreads start from 3.0 pips, and commission stands at $10 per round traded lot.

Commodities

Traders can take advantage of global opportunities in sectors such as fuel and metals through AMarkets’ commodities CFDs. Eighteen instruments are available, including soft commodities like cotton, wheat and coffee and the EMISS greenhouse gas emissions index.

Spreads start from $0.10 on gold and $0.05 on Brent and WTI oil, while all commodities are subject to a commission of $10 per round traded lot.

Leverage

A regulatory body does not restrict the leverage offered by AMarkets. As a result, leverage rates of up to 1:1000 are available with a standard or fixed account. However, with an ECN account, the maximum margin is significantly lower, at 1:200.

The margin provided by the broker is as follows:

• Up to 1:1,000 on forex pairs (up to 1:200 through an ECN account)
• Up to 1:200 on gold
• Up to 1:100 on major indices, other commodities and bonds
• Up to 1:50 on non-major indices
• Up to 1:10 on stock and Bitcoin CFDs
• Up to 1:5 on other crypto CFDs

However, the available leverage for a position depends on the amount of capital staked, with restrictions imposed on speculation with higher capital levels. For example, the maximum leverage on major indices is cut to 1:50 for trades using equity from $250,000 to $500,000 and to 1:20 for positions over $500,000.

Account Types

AMarkets offers three account types to those looking to register with its brokerage. These are the standard, fixed and ECN accounts, which vary in minimum deposit, maximum leverage and execution model.

The standard account utilises the STP execution model for commission-free trading on currency pairs and metals markets. This account has an initial minimum deposit of $/€100 and offers leverage of up to 1:1,000 on selected forex pairs. Spreads start at 1.3 pips and there is a stop out level of 20% on leveraged positions.

AMarkets also provides a fixed spread account with spreads starting from 3.0 pips. Many of the account details mirror the standard account, such as minimum deposit, leverage and stop out level.

The final account type is the ECN account, which provides access to the tightest spreads, from 0.0 pips on forex and metals, in exchange for a $5 per round traded lot commission. The initial minimum deposit is slightly higher at $/€200 and available leverage is capped at 1:200. Additionally, the stop out level for leveraged positions is significantly higher, at 40%.

Unfortunately for UK investors, there is no GBP base currency account option- clients have the choice between EUR and USD funded accounts. All three account types are available as a swap-free Islamic variant, which can be used by those who cannot pay interest for religious reasons.

Demo Account

Many investors value the opportunity to test drive the trading conditions of a broker before committing to a real account. AMarkets satisfies this desire by providing a free demo account for the MetaTrader 4 (MT4) and MT5 platforms. Clients can use this demo login to trade with demo funds to gain experience in new markets, hone a new strategy or trial different leverage options.

Trading Platforms

AMarkets provides clients with two trading platform options from MetaQuotes and its proprietary trading app. Both MetaTrader 4 and 5 are available to download for Windows, Mac and Linux, while MT5 also features a browser-based WebTrader system.

MetaTrader 4

Experienced traders will likely be familiar with the first trading platform offering, MetaTrader 4. MT4 has been hugely popular throughout the industry for forex and CFD trading for over 15 years and remains the most popular retail trading platform.

On top of nine timeframes and thirty stock indicators, investors can use custom indicators and expert advisors (EAs) to enhance their trading. The MQL4 marketplace features thousands of these tools to download and experienced coders can create custom programs.

MetaTrader 5

Also available to AMarkets clients is MetaTrader 5, which offers several new features and improvements over MT4.

With 21 time frames and 38 stock indicators for technical analysis, MT5 gives traders the best chance to identify opportunities in the financial markets. An updated strategy backtesting functionality and a new MQL5 coding language also represent significant improvements over MT4.

Mobile Apps

MetaTrader 4 and 5 both have mobile app platforms to download for iOS and Android devices. Despite the limitations of the mobile app form, both platforms retain most of the standard indicators and support the complete set of order types available on their desktop-based equivalents.

AMarkets also has a proprietary application for trading and account management on the go. Crucially, this platform supports deposits and withdrawals, unlike the MT4 and MT5 offerings. Clients can download the AMarkets mobile platform on iOS and Android devices.

Payment Methods

AMarkets offers a good selection of payment methods for account funding and withdrawal. Clients can choose from:

• Visa and Mastercard credit and debit cards
• SWIFT bank transfers
• Skrill, Neteller, TopChange, FasaPay, Perfect Money, WebMoney and ADVcash
• Cryptos, including USDT, ETH, BTC and LTC

Despite this significant array of payment options, clients are restricted to payments in EUR and USD, other than the various supported crypto tokens. This leaves UK traders at the mercy of potentially disadvantageous exchange rates or forex fees.

Visa, Mastercard and e-wallet deposits process instantly. Crypto deposits can take several hours depending on the network speeds and bank transfers are subject to a 3-5 working day delay.

Withdrawals take the same time to process as deposits for all methods other than credit and debit cards, which clear in one to three hours. Minimum withdrawal amounts are low, at $/€10, while no minimum deposit amount is enforced after the initial deposit.

Deposit & Withdrawal Fees

AMarkets does not charge for deposits with any supported method and actively covers the commissions levied by e-wallets like Skrill and Neteller.

However, withdrawals are subject to fees between 0.5% and 2.5% for card transactions. Charges are capped at $30 or equivalent for Neteller and $50 through WebMoney. Flat fees are applied to bank transfers and some crypto tokens, with bank transfers costing a minimum of $30 per withdrawal.

Trading Fees

Trading fees are an essential consideration when choosing a brokerage, as unwanted charges can quickly eat into profits for high volume traders.

AMarkets levies a commission of $5 per round traded lot on forex and metals markets through its ECN account and a fee of $10 per round traded lot on all other markets, regardless of account type. While $5 is a fairly competitive commission rate, the $10 charge is high compared to rival brokers.

Swap fees for maintaining a position overnight vary from asset to asset and can be found either on the broker website or through either supported desktop trading platform. Despite some broker reviews claiming otherwise, the firm does not charge an inactivity fee.

Security & Regulation

One of the best ways online traders can protect themselves from scams is by registering with a reputable and regulated broker.

While AMarkets is registered with the Financial Services Authority (FSA) of Saint Vincent and the Grenadines, the regulation provided by this organisation is limited compared to other bodies, such as the FCA and ASIC. In addition, The Financial Commission protects client funds for up to €20,000, significantly lower than the amount covered by the UK FSCS.

Unfortunately, the AMarkets client login portal does not support two-factor authentication (2FA), a login verification measure favoured by many security-conscious traders.

Customer Support

AMarkets provides several methods for clients to contact its support team, including a specific help number for UK traders. The team can assist with various issues and general enquiries and are available to contact through live chat and a dedicated email address.

In addition to a presence on major social media platforms such as Facebook, Instagram and Twitter, those in need of support can contact the broker via Telegram and Whatsapp.

• UK Phone Number: (+44) 330 777 22 22
• Whatsapp Contact Number: (+44) 77 234 779 89
• General Support Email Address: support@amarkets.com

For commonplace queries such as making a deposit or log in issues with MetaTrader 4, the AMarkets website features a well-stocked FAQ section.

Educational Content

In terms of educational content, AMarkets operates a blog with posts covering useful topics for beginners, such as finding a trading strategy, an introduction to CFDs and how to conduct fundamental analysis. The broker also provides a daily market report and suggested trading ideas for upcoming news events.

Advantages Of AMarkets

• Free VPS
• Autochartist access
• Copy trading support
• UK customer support
• Crypto & bond trading
• Low minimum deposit
• Several account options
• Competitive leverage rates
• Appealing bonuses and promotions

Disadvantages Of AMarkets

• No GBP account
• Weak regulation
• Withdrawal charges
• Commissions are high
• Restricted leverage on large positions

Promotions

It is common for forex and CFD brokers to offer special promotions to encourage investors to register and trade on their platform.

AMarkets provides several such bonus programmes to its clients, including a spread rebate scheme for STP accounts, frequent deposit bonus programs and a switching broker bonus. The firm also offers clients to transfer profits from their MT4 demo account trading to bonus funds on a real account. However, this is not to be confused with a no deposit bonus.

While these promotions can often seem tantalising, traders should ensure they understand the terms and conditions and any wagering requirements associated with the bonus.

Additional Features

AMarkets provides clients with many additional features to help maximise their success. These include an economic calendar marked with important dates such as earnings reports, divided deadlines and futures contract expiry dates. Also provided is free access to a VPS server for 24/5 automated trading and a trader’s calculator to preview positions.

Clients can also use the integrated copy trading (PAMM) service to entrust funds to the strategies and equity pools of experienced investors. Access to the Autochartist automated technical analysis platform is also included with a funded AMarkets account.

Trading Hours

AMarkets provides access to most of its forex and CFD instruments during the same trading hours as the global forex markets, running 24/5. However, share CFDs and indices will follow the trading hours of their respective local exchanges and cryptocurrency CFDs are available to trade 24/7 with the MetaTrader 5 platform.

Clients can manage their accounts and make deposits and withdrawals at any time, either via the broker’s website or proprietary trading app.

AMarkets Verdict

This AMarkets.com review has found plenty of positives for the brokerage, including very high leverage rates, a good choice of trading platforms and apps, several unique account options and 24/7 crypto CFD support. Many may also be compelled to switch brokers due to the enticing promotions and helpful additional features. However, prospective clients should consider the weak regulation and lack of a GBP account option before committing to AMarkets.

FAQ

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