Pros & cons of AMarkets

AMarkets Fact sheet

Safety starts with regulations and depending on how many regulators are overseeing the broker, we can determine how safe it is to hand our capital over to them. AMarkets is regulated by the Financial Services Authority (or FSA) in St. Vincent and the Grenadines. Regulated by any authority is already a big thing for Forex brokers, but having only one overseeing authority is still not enough. More regulators equal safer brokers. 

Policies AMarkets follow

AMarkets is part of the Investors Compensation Fund and keeps clients' funds in segregated accounts. The broker also offers negative balance protection for those trading on a margin.

Since AMarkets offered leverage is 1:3000 it is crucial that clients don’t lose more than their account balance. Leveraging this high can amplify the buying power of a $100 account to $300 000 which is very high and contains risks of quickly wiping out the balance within just a single trade. This can easily happen when leverage is 1:3000. Negative balance protection prevents traders from losing more than what they have on their accounts and becoming indebted to the broker. Another important policy at play is that the broker can not use client funds for company purposes. This is made sure of through segregated accounts, which also keep client funds safe in case the broker goes belly up. 

AMarkets offers 539 total trading instruments in different asset classes. This is a very competitive number for assets as traders can trade almost all popular instruments, from Forex to cryptos, with high leverage to boot. The main assets offered for trading include Forex pairs and stocks. Other interesting instruments offered include cryptos, metals, ETFs, and two bonds. 

There are only 7 metals available: aluminum, copper, nickel, platinum, silver, gold, and zinc. 

The two bonds are BUND10Y or Euro-Bund Futures (FGBL) and TNOTE or 10-Year Treasury Note Futures.

Forex trading on AMarkets

There are 44 currencies offered in total on AMarkets. Different account types offer a different number of currency pairs for trading. Standard and ECN accounts offer 44 currencies, while other types have fewer Forex pairs available. With a leverage of 1:3000, the buying and selling power of the trading account is greatly amplified.

The spreads are dependent on the account type the trader is operating on. For ECN accounts, spreads start at 0 pips but for each lot, there is a small commission charged for each side of the trade. These zero spreads are great for traders who love to open multiple trades throughout the day. Scalpers will love this option because of how important zero spreads are for making multiple small profits.

Shares as CFDs trading on AMarkets

The main focus of AMarkets is on shares as CFDs. Stocks are available for all account types and offer the ability to speculate on price changes. CFDs are great instruments for this matter because they can be short-sold when markets are falling. With CFDs, traders can make money no matter what the market is doing and can do so without ever owning the underlying asset. All 433 stock CFDs are available for all accounts except the CRYPTO account, which mainly focuses on cryptos and Forex pairs.

Cryptocurrency trading on AMarkets

Cryptocurrencies became very popular lately and AMarkets provides their traders with a number of cryptos to trade. There are 27 different cryptos in total, with spreads starting from 0.001 for Tron/USD. While it is relatively cheap to trade your favorite cryptos on AMarkets, spreads on cryptos are always high and can increase to $12 per BTC for the BTC/USD pair.

Indices trading on AMarkets

There are 17 indices offered by AMarkets. Indices track the performance of a group of assets and can be used to analyze the overall performance of the sector or market. Indices like the S&P 500 can provide an overview of the US stock market and tell what the main tendency is. In this regard, they are great assets that provide chances for going short or long on a whole segment of the market. The indices include main instruments from the USA, CHINA, Europe, and South Korea.

Commodities trading on AMarkets

Commodities are known to be a safe haven during an economic crisis like the current global situation. AMarkets offer soft and hard commodities, as well as metals and other goods. There are 18 total commodities available as of now including oil, coffee, corn, wheat, and many others. No matter the economic status and situation, raw materials are always important and affect the economy of all countries. Their price depends on supply and demand, and global events such as wars can greatly affect them. For example, the Russian aggression against Ukraine caused fears of global famine, as both countries are large suppliers of both oil and wheat. 

There are many trading styles when dealing with financial instruments. Some traders prefer scalping strategies, while others prefer to open trades for days. Because of this, brokers should offer different account types to appeal to all trader types. Scalpers prefer the lowest spreads, while day traders want to trade with lower overnight costs and smaller commissions.

AMarkets offer BITCOIN, Fixed, Standard, and ECN account types. Each of these accounts has got some advantages and disadvantages according to spreads and fees. 

Pros & cons of AMarkets account types

AMarkets Demo account

There is a dedicated button for opening a Demo account with AMarkets. Virtual funds offered are $10 000, which should be enough for beginners to master basic skills for trading. Pros can use the Demo account to test their trading strategies before applying them to real markets. 

A Demo account enables traders to trade live markets with virtual funds. Everything is real during a demo trading, except the funds are fake. A demo account can be traded without risking real money or having to fund your account. 

AMarkets BITCOIN account

The BITCOIN account is very peculiar as it offers leverage of only 1:100 with floating spreads starting from 1.3 pips. The Stop Out Level is set to 20%. The initial deposit is not defined, but the minimum lot is 0.01 thereby offering a micro account possibility. 

The trading instruments offered for crypto account holders are as follows

• Forex - 42
• Metals - 7
• Indices - 16
• Commodities - 11
• Bonds - 2
• Cryptocurrencies - 19

AMarkets Fixed account

The Fixed account offers fixed spreads from 3 pips. This account is not suitable for scalpers as spreads will eat up most of the profits. Account currencies are EUR and USD, and lots start from 0.01. The leverage offered is 1:3000, an impressive number. So it's possible, theoretically, to trade 3 lots with a 100 dollar account. Execution is instant. The minimum deposit is $100 for a fixed account.

Trading instruments for fixed accounts include

• Forex - 28
• Metals - 7
• Indices - 17
• Commodities - 11
• Bonds - 2
• Stocks 433
• ETF - 20
• Cryptocurrencies - 27

AMarkets Standard account

A well-balanced account type offering floating spreads from 1.3 pips, 1:3000 leverage, and 0.01 lots. The minimum deposit requirement is $100. Offers market and instant execution for trades. Account currencies are the same as other accounts, consisting of EUR and USD.

Trading instruments offered are:

• Forex - 44
• Metals - 7
• Indices - 17
• Commodities - 11
• Bonds - 2
• Stocks - 433
• ETFs - 20
• Cryptocurrencies - 27

The standard account offers a middle ground between all other trading accounts and is great for beginners and pros alike.

AMarkets ECN account

This is the most scalper-friendly account type. Spreads start from 0.0 Pips for the ECN account, with trade execution being market executions. But, since spreads are 0, there are commissions of 2.5 EUR or USD per 1 lot. Leverage is also 1:3000, but the minimum deposit required is $200 or the equivalent in Euros. The Stop Out Level is higher when compared to other account types sitting at 40%.

Trading instruments offered for ECN accounts are the same as for Standard accounts, with the difference only being in spreads and commissions. 

Getting started on AMarkets - main steps

If you decide to open an account with AMarkets, we will provide all the necessary steps in detail below. The process is very simple and intuitive, just a few personal details will be sufficient to get you started. 

Step 1: Open an account

Account registration is a relatively intuitive process. After clicking on the OPEN ACCOUNT button that is present on the homepage of the broker, there is a form to be filled out. Make sure you enter your information as requested by the broker and the account is ready in seconds.

Step 2: Time to verify your account

It is always important to verify your account before depositing funds. This step makes sure you have a verified account to be able to withdraw funds easily. Users are required to complete verification before they can deposit funds with AMarkets. Verification is done by providing proof of identity. An ID or passport will do the job, and documents should be valid and issued by legit government authorities. After this process, it is recommended to verify the payment method that you are going to use. Just log in to your account on the preferred payment method’s account screenshot and send it to AMarkets. 

Step 3: Make your deposit and start trading

There are several payment methods to be used for depositing. You can deposit money using Visa, Mastercard, Neteller, crypto, AdvCash, Perfect Money, Fasapay, and TopChange. All the methods have their pros and cons, but we won’t go into details. 

After depositing funds, it's time to start trading. AMarkets offers MT4 and MT5 trading platforms for trading. There are also mobile apps available for both Android and iOS users. 

Fees and commissions are really cheap for AMarkets. For their accounts, except for the ECN one, the commissions are zero, making it very cheap to open a trade. Spreads are moderate, and day traders will find it easy to open trades for days without expensive commissions and fees. 

Comparing AMarkets fees with other brokers

AMarkets fees compared to Interactive Brokers fees

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

AMarkets fees compared to eToro fees

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AMarkets fees compared to XM fees

AMarkets fees compared to AvaTrade fees

AMarkets fees compared to Capital.com fees

There are three trading platforms provided for traders, namely MetaTrader 4 (MT4), MetaTrader 5 (MT5), and AMarkets proprietary mobile trading app for both Android and iOS devices. MT4 and MT5 are two of the most popular professional platforms among traders the world over. They offer advanced features to analyze charts with various tools to choose from. Expert Advisors or EAs are allowed on both platforms, and AMarkets are even providing their own trading EAs for traders wanting to use trading robots. This is actually very impressive as there are numerous robots provided. The only requirement is the minimum deposit needed to download the robot from the website. Most of the robots become available for $1000 accounts, with some bots requiring $2000 and even $5000 deposits. 

The broker offers its proprietary app for mobile devices. The app will require login before you can access any of its features. MetaTrader 4 and 5 can be used on all devices as well, offering both desktop and mobile apps. They offer the flexibility of using the same credentials for all devices, making it convenient to monitor your trading activities from anywhere. But mobile apps come with downsides as they are generally limited by the number of available indicators and analysis tools.

While there are no education tools provided by AMarkets, they shine in the research department. The broker provides several advanced features and trading tools including news, analytics, and many more. The main highlights of research tools include:

• AutoChartist 
• VPS servers
• Sentiments Indicator

All these tools have the potential to greatly assist traders by providing increased decision accuracy. It is still a downside for AMarkets not offering any educational materials, making it harder for beginners to learn how to trade. But for the advanced traders who know what they are doing, the broker has plenty of tools to assist.

There are almost all support methods available on the AMarekts’ website, from direct contact via phone to 24/5 live chat. They also have a Telegram channel and email support is working properly. There is only one downside here, we weren’t able to find an online form. But since other support channels are working fine, this is just a minor inconvenience. Live chat, which is the most important support for any trader, is working well, and the personnel seem polite and knowledgeable, quickly answering questions on any topic asked. 

Offering 1:3000 leverage and a $100 minimum deposit, AMarkets is an interesting regulated Forex broker with several advanced trading tools and indicators to help their clients. The minimum account balance for a trading robot is $1000 and they are free to use. Other important services include trading accounts with the lowest spread starting from 1.3 pips, 400+ stocks for trading, and a dedicated crypto account that offers the ability to deposit and trade BTC. The funds can be withdrawn on the same day as requested, but users will have to verify their preferred payment method by sending screenshots to AMarkets support. Withdrawal fees start at 0% for TopChange and are highest for MasterCard at 2.5%. Support is multilingual and live chat is there to help traders 24/5.