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AMarkets – Forex Broker Review 2022

About AMarkets

AMarkets is an award-winning broker with an excellent reputation within the industry. It offers a wide range of trading instruments. It also offers great account options, excellent trading conditions, and powerful trading platforms. In addition to its great trading environment, AMarkets also offers helpful resources, great 20% deposit bonuses, and outstanding customer support.

Key Benefits

Regulation

Founded in 2007, 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.

Fund Safety

AMarkets keeps all client funds in segregated accounts and it distributes its assets among reliable global banks. Therefore, you can rest assured that your funds will be kept in a safe place and will not be used for operational purposes.

Platforms

AMarkets uses the world-popular MetaTrader 4 and MetaTrader5 trading platforms. It has various versions available depending on if you want to trade on your desktop, web browser, or mobile.

MetaTrader4

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

MetaTrader5 (MT5) is another great platform for beginner traders in Nigeria. It has a 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.

Trading Instruments

AMarkets offers a great range of trading instruments including forex, indices, commodities, metals, bonds, and cryptocurrencies.

  • Forex: They have many forex instruments including 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 selection 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 three types of accounts on offer at AMarkets: the Standard account, the Fixed account, and the ECN account. All account types have a swap-free option.


Spreads

Instruments

Minimum Deposit

Max. Leverage

Commission

Fixed

From 0.9 pips

170+

$100

1:3000

0

Standard

From 0.9 pips

170+

$100

1:3000

0

ECN

From 0.9 pips

170+

$200

1:3000

2.5 per lot

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.

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.

Fixed Account

The Fixed Account is a great choice for experienced traders with more capital. It comes with fixed spreads from 5.0 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.

Deposits & Withdrawals

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.

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.

Education

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.

Extra Trading Services

AMarkets offers many useful trading tools, including a trade calculator and an economic calendar. It also has a helpful range of trading tools for more advanced traders, including EAs and a VPS service.

VPS Services

A VPS service is ideal for forex traders who want more stability and flexibility. This 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 minimize the risk of system downtime due to unexpected power failures, Internet cuts, physical difficulties, and computer shutdowns.

Documents

When you open an account process, you need to provide AMarkets with certain documents. These include a proof of ID and a proof of address. There is a limited list of documents that AMarkets accepts. These include copies of your passport, driver’s licence, recent utility bills or bank account statements.

AMarkets Customer Support

You can contact AMarkets by email, Livechat, Telegram, WhatsApp and phone. Their assistants speak English, Turkish, Farsi, and Russian.

Conclusion

AMarkets is a reputable broker with a good range of trading instruments. Its high quality educational materials and trading resources make it a good choice for new traders. And its wide range of trading tools make it a great choice for advanced traders as well. If you’re happy with their services, you can also earn extra money through their referral bonus.

Ready to sign up? Register for an online trading account with AMarkets here.