Contents
- 1 AMarkets Basics
- 2 Our Opinion About AMarkets
- 3 Key Benefits
- 4 Regulation And Safety
- 5 Regulations In Nigeria
- 6 Fund Safety
- 7 Trading Awards
- 8 AMarkets: Legit Or Scam?
- 9 AMarkets Trading Assets
- 10 Trading Instruments
- 11 AMarkets Account Types
- 12 Crypto Account
- 13 Standard Account
- 14 Fixed Account
- 15 ECN Account
- 16 Demo Accounts
- 17 Islamic Accounts
- 18 PAMM Accounts
- 19 AMarkets Registration – How To Open A Trading Account
- 20 AMarkets Registration – How To Verify A Trading Account
- 21 AMarkets Bonuses
- 22 Cashback Bonus
- 23 AMarkets Payment Methods
- 24 AMarkets Trading Platforms
- 25 AMarkets Trading Tools
- 26 AMarkets VPS Services
- 27 Education And Research
- 28 AMarkets Trading Tools
- 29 AMarkets Customer Support
- 30 Our Verdict
- 31 AMarkets Forex Broker Review – FAQ
- 32 AMarkets Forex Broker Review – Similar Brokers
AMarkets Basics
| 🏛️ Based in | Limassol, Cyprus |
|---|---|
| ⚖️ Regulation | SVG |
| 💰 Minimum Deposit | $100 (45,600 Naira) |
| 💳 Deposit Options | VISA, MasterCard, Bank Wire, Neteller, Skrill, WebMoney and FasaPay. |
| 💳 Withdrawal Options | VISA, MasterCard, Bank Wire, Neteller, Skrill, WebMoney and FasaPay. |
| 📌Open an account | Start Trading with AMarkets |
Our Opinion About AMarkets
AMarkets is an online forex & CFD broker. They were first set up in 2007 and have been offering online trading services to clients worldwide for several years now. They are registered in St Vincent and the Grenadines. As such, they are an established company, offering a secure online trading environment and a good level of client fund protection
AMarkets offers competitive online trading conditions and transparent pricing. They have 100+ trading instruments including forex, shares, indices, cryptos, and commodities. They also have a nice range of trading accounts. There are 4 different account types – all of which have low trading costs, good spreads, and fast trade execution. They also have two of the top online trading platforms in the industry – MetaTrader4 and MetaTrader5.
If you’re looking for great trading support, then AMarkets could be a good option. They have regular promotions and bonuses, giving you the chance to boost your trading capital. They also have a nice range of trading resources including market news, market analysis, and free learning materials. And if you’re looking for great customer service then you’ll be pleased to know that AMarkets also has multilingual customer support.
Key Benefits
Regulation And Safety
AMarkets is registered by the FSA (Financial Services Authority) of Saint Vincent and the Grenadines. While AMarkets has less formal regulatory requirements, it is still a highly reputable company offering a safe trading environment and a great level of client fund protection. As such, it is a reliable forex broker and you can trust them to deliver a great online trading service.
Regulations In Nigeria
Traders in Nigeria can open an online trading account with AMarkets. As an FSA-registered broker, AMarkets operates with slightly less regulatory oversight than other regulated brokers. However, they still implement strict security and client fund safety protocols. As such, they are a reliable provider.
Fund Safety
AMarkets takes client fund protection very seriously. They keep their clients’ funds separate from their own funds in segregated accounts, meaning that it cannot use client money for its own operational purposes. This is especially important for new forex traders who only want to open accounts with reliable companies. They also offer their clients negative balance protection, meaning that they do not allow their traders’ balances to fall below zero. This is especially important for new forex traders who want better client fund protection while they are still learning about risk management.
Trading Awards
AMarkets is a highly celebrated forex broker. They have won many awards including:
- Best Cryptocurrency Broker 2022 – FXDailyInfo
- Most Reliable Broker Indonesia 2022 – International Business Magazine
- Fastest growing Broker Indonesia 2021 – World Economic Magazine
- Best Value Broker Asia 2021 – Global Forex Awards
AMarkets: Legit Or Scam?
AMarkets is a legit forex broker. They have been offering forex trading services for several years and have a growing client base in Africa. They are registered with a well-known financial authority, implement good client fund safety policies, and have won many awards for their online trading services. With regards to their products, they offer several account options and a nice variety of trading instruments. They also have a good range of payment methods. In our opinion, they are a legit and reliable forex broker.
AMarkets Trading Assets
AMarkets offers a great range of trading instruments including forex, indices, commodities, metals, bonds, and cryptocurrencies.
Trading Instruments
- Forex: They have many major, minor, and exotic currency pairs.
- Indices: AMarkets also has a great selection of UK, US, European, and Asian indices.
- Commodities: They have trading on oil, cocoa, soybean, sugar, wheat, and more.
- Stocks: AMarkets has a great choice of stocks including Apple, Amazon, and Tesla.
- Bonds: They also have trading on BUND10Y and TNOTE.
- Metals: AMarkets offer trading on copper, gold, aluminium, platinum, and zinc.
- Cryptocurrencies: They also have Bitcoin, BitcoinCash, and Cardano.
AMarkets Account Types
There are currently 4 types of accounts on offer at AMarkets: the Crypto Account, the Standard Account, the Fixed account, and the ECN Account. All account types have a swap-free option.
| Type | Spreads | Min. Deposit | Max. Leverage | Commission |
|---|---|---|---|---|
| Crypto | From 1.3 pips | $0 | 1:100 | $0 |
| Standard | From 1.3 pips | $100 | 1:3000 | $0 |
| Fixed | From 3.0 pips | $100 | 1:3000 | $2.5 per lot |
| ECN | From 0.0 pips | $200 | 1:3000 | $0 |
Crypto Account
The Crypto Account is a great choice for traders who want to focus solely on the cryptocurrency market. It comes with an average spread of 1.3 pips. It also comes with high leverage of up to 1:100. The minimum trading volume is 0.01. You can choose from 20+ cryptocurrencies. There is no minimum deposit on the AMarkets Crypto Account. The base currencies are USD and EUR.
Standard Account
The Standard Account is a great choice for beginner traders with less experience on the markets. It comes with an average spread of 1.3 pips. It also comes with high leverage of up to 1:3000. The minimum trading volume is 0.01. You can choose from 40+ forex pairs. It is worth noting that the minimum deposit for this account is $100. The base currencies are USD and EUR.
Fixed Account
The Fixed Account is a great choice for experienced traders with more capital. It comes with fixed spreads from 3.0 pips. There are no commissions. It also has a higher leverage of up to 1:3000. The minimum trading volume is 0.01. You can trade 25+ currency pairs. It is worth noting that the minimum deposit for this account is $100. The base currencies are USD and EUR.
ECN Account
The ECN Account is a great choice for experienced traders with more capital. It comes with 0.0 pips but there is a small commission of $2.5 / €2.5 per 1 lot. It also has a lower leverage of up to 1:3000. The minimum trading volume is 0.01. You can trade 40+ currency pairs. It is worth noting that the minimum deposit for this account is $200. The base currencies are USD and EUR.
Demo Accounts
AMarkets does offer a PAMM service. PAMM accounts allow Nigerian traders to invest in trading strategies executed by experienced account managers. This service can be very helpful for new forex traders, as it means they can benefit from a fully-managed investment portfolio, as well as live investment updates.
Islamic Accounts
AMarkets provides Islamic swap-free trading accounts. You can choose this option during the AMarkets account registration process.
PAMM Accounts
AMArkets does not offer a PAMM service. PAMM accounts allow Nigerian traders to invest in trading strategies executed by experienced account managers. The service can be very helpful for new forex traders, as it means they can benefit from a fully-managed investment portfolio, as well as live investment updates.
AMarkets Registration – How To Open A Trading Account
As part of our AMarkets review, we looked at their online registration process. If you live in Nigeria, then you are eligible to open a trading account. Getting registered is easy. To get started, you need to go to their website, complete the form, and choose your preferred login details. Next, you need to take a quick test. This is so that they can see how much you know about online trading, and decide if their services are suitable for you. Lastly, you need to submit your documents, and choose your account type.
AMarkets Registration – How To Verify A Trading Account
As part of our AMarkets review, we looked at their account verification process. To open a trading account you’ll need to provide a proof of ID and a proof of address. This is so that they can check your identity. Verifying your account is easy. You can send copies of your National ID card, Passport or Driving License . You can also send copies of a utility bill or a bank statement registered in your name. After you have verified your account, you can add funds and start trading.
AMarkets Bonuses
If you’re looking for a good deal, AMarkets has a great selection of forex bonuses. Their promotions typically include cashback offers and deposit bonuses. Their offers change regularly and you can find these offers on their website.
Cashback Bonus
AMarkets offers a cashback bonus program. They return part of the spread to active clients. The bonus is based on the idea that the more you trade, the bigger part of the spread is returned to your trading account. The program has 5 levels. The higher your level, the more cashback per lot you receive. To advance to the next level, you need to reach a monthly trading volume of 5 lots. This is the required trading turnover and it remains unchanged for each level.
AMarkets Payment Methods
Naira is accepted at local exchanges or by bank wire. In addition, AMarkets processes payments via e-wallets such as Neteller, Skrill, WebMoney and FasaPay.
AMarkets Trading Platforms
AMarkets uses the MetaTrader 4 and MetaTrader5 trading platforms. It has various versions available depending on whether you prefer to trade on your desktop, web browser, or mobile.
MetaTrader4 (MT4) is one of the best online trading platforms for new traders. It has a simple interface and comes with many handy, built-in trading tools. You can use it to trade many popular financial markets including forex, stocks, and indices. The MT4 trading platform has helpful charting tools, 4 order execution types, 30 technical indicators, and 23 analytical objects. You can use these trading tools to carry out market analysis and create advanced trading strategies.
MetaTrader5 (MT5) is another great platform for beginner traders in Nigeria. It has an easy-to-use interface and comes with lots of helpful features. You can use it to access a wide range of instruments including forex, shares, and crypto. The MT5 trading platform also has many great features including 6 order execution types, 38 indicators, and 37 analytical objects. As such, it has slightly better functionality than MetaTrader4 and offers you more analysis tools.
AMarkets Trading Tools
AMarkets has a great range of trading tools, the most impressive of which is its copy trader. This tool lets you earn the same percentage as an experienced trader. As well as copy-trader, you also have free access to the Autochartist service, indicators, and professional analytics. In addition to their copy trader, they also offer:
- Market News -Their market news consists of a weekly market outlook. It summarises upcoming market opportunities across many markets. It also helps you find potential trades for forex, metals, and shares. As such, it makes analysing the markets and planning your weekly trades much easier.
- Technical Analysis – Their technical analysis helps you to understand market trends and to anticipate future price movements. It covers many popular instruments including forex, metals, shares, and indices. As such, it makes implementing strategies and managing trades much simpler.
- Economic Calendars – Their economic calendar helps you stay on top of market news. It covers all of the most important economic data releases from around the world. It also includes detailed explanations and forecasts of each data release. As such, it makes tracking news and predicting price movements much easier.
AMarkets VPS Services
A VPS service is ideal for forex traders who want more stability and flexibility. This is because it enables you to trade with optimum technical conditions and consistent connectivity. You can use VPS services to run automated algorithmic strategies, including Expert Advisors, 24 hours a day 7 days a week, on a virtual machine. You can also use it to minimise the risk of system downtime due to unexpected power failures, Internet cuts, physical difficulties, and computer shutdowns.
Education And Research
AMarkets offers many useful educational resources, including a detailed trading guide. It also provides market news and trade ideas. As such, it does a lot to help traders learn about the market and to create more effective trading plans.
AMarkets Trading Tools
AMarkets trading hours are in line with standard trading hours. You can open trades whenever the financial markets are open. Trading hours may vary on public holidays.
AMarkets Customer Support
You can contact AMarkets by email, Livechat, Telegram, WhatsApp and phone. Their assistants speak English, Turkish, Farsi, and Russian.
Our Verdict
AMarkets is a well-established and trustworthy forex broker. The company was founded in 2007 and is now a well-known forex brand. They provide easy account access, a rich assortment of trading tools, and advanced trading platforms. They also provide a safe trading environment and a high level of client fund protection.
AMarkets values fair and transparent trading. When it comes to their trading services, they have built their account model around these values. They use a low-cost pricing model to ensure all Nigerian traders can access excellent online trading conditions. They also provide a wide range of trading instruments and trading bonuses to ensure all Nigerian traders can access great trading resources.
AMarkets also values education and support. When it comes to trading technology, they have a great selection of tools, analysis, and market news, enabling Nigerian traders to navigate the markets more successfully. They also provide free educational content and helpful articles to help more Nigerian traders progress with their trading journeys.
If you’re new to online forex trading and want to know where to start, or if you’re a seasoned Nigerian trader looking for a better platform to work with, check out AMarkets today. Either way, you won’t be disappointed.
AMarkets Forex Broker Review – FAQ
Yes, AMarkets is a good broker. The broker has great accounts with low minimum deposits. They provide a good range of trading assets, including forex, stocks, indices, and metals. They also provide high leverage and low trading costs, enabling you to benefit from a good trading environment. In our opinion, they are a reliable broker and a good choice for traders in Nigeria.
Yes, AMarkets is a legit forex broker. They have been offering online trading services in Africa for many years. They are registered with a well-known financial body, use strict safety measures, and have won awards for their service. In terms of their products, they offer a good selection of trading instruments and trading bonuses. They also offer convenient payment options, as well as easy withdrawals. In our opinion, they are a legit broker and a great choice for traders in Nigeria.
Yes, AMarkets in Nigeria is a registered forex broker. AMarkets is registered in St. Vincent and the Grenadines. As an FSA-registered broker, they have less regulatory requirements than other regulated brokers. However, they still implement strict security and client fund safety protocols. As such, they are a reputable broker.
AMarkets in Nigeria is a good broker. They have great bonuses, helpful trading tools, and good trading platforms. They have great learning materials, helpful support, and good client fund protection. However, if you want to look at alternative options, there are many other great forex brokers as well. We recommend looking at HotForex, FXTM, FXPro, FXPrimus, and Instaforex.
Yes, AMarkets in Nigeria is a trustworthy forex broker. They keep all client funds in segregated accounts, separate from its operating capital. This means that they do not use client money for their own operational needs. They also offer negative balance protection. In our opinion, AMarkets is a safe forex company.
Yes, AMarkets in Nigeria is good for beginner traders. The AMarkets trading accounts come with good trading conditions, low minimum deposits, and competitive pricing. They also come with a nice choice of trading resources and educational materials. For example, new traders can use their trading articles. This will give them help them improve their knowledge.
Ready to sign up? Register for an online trading account with AMarkets here.
AMarkets Forex Broker Review – Similar Brokers
AMarkets is a great forex broker. However, if you want to look at other options, there are also many other forex brokers in Nigeria. Here are some similar brokers.
Looking for more options? Take a look at more of our forex broker reviews.