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Amarkets is a global CFD (Contract for Difference) and Forex broker providing financial services to over one million traders globally. The broker offers currency pairs, commodities, indices, cryptocurrencies, and CFDs on stocks for trading using the MetaTrader 4 and MetaTrader 5 platforms. The company was founded in 2007 and has come a long way since then.
Amarkets offers different account types, including Standard, Fixed, ECN, demo, and Islamic (swap-free) accounts.
What makes this broker stand out is that it offers a vast number of promotions and bonuses to its clients and partners which we will be taking a closer look at today.
The broker offers a number of different promotions to its clients to increase their participation in the markets and attract new traders. Let’s take a closer look at each:
The cashback program enables traders to return some of the trading fees, as members of the program can return part of the spreads. It’s important to note that the amount depends on your activity. The more you trade, the bigger the portion of returns will be. The cashback program consists of 5 levels. The higher the level traders reach, the better the returns can be. In order for traders to level up, traders need to reach a trading volume of 5 lots.
|Level (lvl)||Required monthly trading volume||Old cashback rate (per lot)||New cashback rate (per lot)|
|1||2 lots||$3 / €3||$3 / €3|
|2||5 lots||$8 / €8||$11 / €11|
|3||5 lots||$10 / €10||$13 / €13|
|4||5 lots||$12 / €12||$15 / €15|
|5||5 lots||$14 / €14||$17 / €17|
It’s important to note that the cashback program comes with certain terms and conditions:
Using this program Amarkets is aiming to pull in traders from competitors. Traders can get an exclusive 20% bonus on their deposits, but there are a couple of requirements for claiming the bonus, including:
The bonus is only available to new customers of Amarkets. In order to receive the bonus, traders need to contact customer service. The maximum amount of bonus available per customer is 10,000 USD.
It’s important to note that the bonus is not withdrawable right away and the funds are not added to the trader's account. The bonus amount is for trading purposes. In order for the bonus to be withdrawn, a certain level of trading turnover must be reached.
In addition, traders need to be informed that:
This offer helps beginner traders to transition from demo trading accounts to live trading accounts. In order for traders to be able to claim the bonuses, they need to demo trade profitably within 5 days. The bonus is available on Fixed and Standard accounts using the MetaTrader 4 platform. To receive the bonus, traders need to deposit the same amount as profits made on the demo account or greater to their live accounts.
Here are some additional terms and conditions:
This referral program generously awards invitations. For every new trader, clients of Amarkets can receive 10 USD. In addition, each new trader will receive a trading bonus on every deposit made that’s more than 100 USD.
Bonuses of Amarkets have strict withdrawal conditions, such as minimum trading volume before the bonus can be withdrawn. In addition, there are many deadlines to be met. These conditions will be difficult to meet for most traders. Even small withdrawals from initial deposits will cause most promotions to be canceled, and that limits traders’ access to their own funds.
The bonuses are encouraging overtrading, which is never a good idea. Profitable trading requires trading the best setups. When the goal becomes to trade in large volumes instead of trading the right way, the likelihood of failure increases.
It’s important to note that when the bonus is tied to trading turnover, the broker has zero expenses. Instead of charging traders fees such as commissions and spread markups, the broker returns the money as bonuses and gets new customers.
Moreover, the terms and conditions of most promotions offered by Amarkets are complicated, and many beginner traders will not be able to fully understand how to trade to receive the bonuses.
Overall, Amarkets has pretty generous offerings when it comes to promotions and bonuses. However, for most traders, it will be difficult to profit from the offerings as there are extensive requirements that need to be met before traders are allowed to withdraw bonuses. In most cases, the bonuses are non-withdrawable and traders need to meet a certain trading volume to be able to have full access to the funds.