Amarkets review 2020
At the currency market Forex you can meet a large number of participants – not only individuals, but also various firms, funds, banks, brokers, exchanges. Each of the participants performs its task. In order for a private trader to enter the Forex market, it is necessary to conclude a contract with a broker, which, in fact, is a link between the market and a person.
There are many brokerage companies today. They differ from each other in the range of services offered to clients, trading conditions, the amount of commission, etc. In order to choose a suitable broker, a future trader needs to analyze the companies available on the market, read the offers, independent ratings and read reviews.
We present an overview of one of the Forex brokers – AMARKETS.
The company provides brokerage services since 2007. It is a member of the Financial Commission for settlement of disputes between traders and brokers and guarantees protection of clients’ interests up to EUR 20 000.
AMarkets : spreads and commissions
Like many other brokers, AMARKETS earns on spreads, i.e. the difference between the amount of currency sold and bought. The spread in the Standard Account is floating and is 1.3 pips. There is an account with fixed spread, it is equal to 3 pips.
On some accounts there is a commission for lots. On Institutional account it is 20 USD per lot, on ECN account it is 2.5 USD, 2.5 EUR or 175 RUB.
What can you trade with AMarkets?
AMARKETS allows trading currencies, shares, bonds, metals, indices, commodities, including coffee, cotton, corn, etc.
AMARKETS is available for trading:
- 42 currency pairs;
- 2 metal pairs;
- 16 pairs of goods
- 7 crypt currency pairs;
- 16 indexes;
- 72 CFD.
Globgal experience with AMarkets
Available platforms and applications
Two MetaTrader platforms are available for trading: MetaTrader 4 and Metatrader 5. You can use them on Windows, IOS and Android, as well as in a web browser. If you need to work with several accounts at once, AMARKETS provides access to MetaTrader 4 MultiTerminal professional platform, which supports up to 128 accounts simultaneously.
There are four account types available in AMarkets: from Standard for beginners to Institutional for serious market players. Accounts can be opened in roubles, euros or dollars. The Institutional currency selection is limited to dollars. The minimum deposit is 100 USD or EUR, or 5000 RUB. The minimum trade is 0.01 lots.
Withdrawal of funds from the account in most cases is made instantly. Transfer to a card can take from 1 hour to 3 hours. Bank transfer – from 3 to 5 working days.
AMarkets offers its clients a developed system of technical support. You can apply for help by phone, e-mail, WhatsApp or Telegram messenger, online chat on the company’s website. The service is available 24 hours a day, Monday to Friday. Support is available in different languages: Russian, English, Ukrainian, Kazakh and Persian. The answer time in online chat is about 1 minute.
The company also offers training in trading: basic course for beginners, webinars, offline conferences and seminars for more experienced traders.
How to open an account with AMarkets?
In order to open a simple account you need to enter your name, email address and phone number on the AMarkets website. After that the client will be transferred to the account data page: numbers and password. To start trading, you will need to download MetaTrader platform and deposit funds into your account. The account can be funded with a card or payment systems Qiwi, Yandex, WebMoney and others.
When you open a demo account, the trading platform will be opened in your browser immediately after entering your registration data. Opening an Institutional account is a bit more complicated.
You need to submit an application and scan the following documents: passport and the second document (it may be rights), bank account statement, utility bill receipt. It is also necessary to fill in a questionnaire indicating sources and level of income, to confirm your trading experience.
AMARKETS provides an opportunity of interest-free deposit to the Client’s Account: fees charged for transferring money to the system are returned to the Client’s Trading Account.
For new clients there is a campaign to increase the initial deposit by 2 times at the first deposit. The bonus is considered credit and can be used to increase the transaction volume. For transfer to AMARKETS from another broker, the company promises to charge 25% of the deposit amount.
For regular clients the possibility of receiving a cacheback is provided: for performing a certain volume of transactions within a month you can return up to 14 USD to your account.
Clients with more than 20,000 USD in their accounts can obtain VIP status and enjoy the benefits of an increased cacheback, priority for withdrawals, and more.
There is also an affiliate program, which allows earning a fixed amount for attracting new clients, as well as interest from their trading operations.
In general, AMARKETS as a Forex broker is trusted. Content site, prompt technical support, training opportunities, fast account opening. No significant disadvantages were found in the analysis.