AM Broker Review Is Ambroker.com Legit Or Scam

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AM Broker Review: Is Ambroker.com Legit Or Scam?

Ambroker.com Review: this is the website of a Forex broker that is located in the offshore region of St. Vincent and Grenadines. Is AM Broker scam or a legit broker? Since this is an offshore based brokerage, funds safety is not assured. Find out more about this company.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

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AM Broker discloses that it is operating from St. Vincent and Grenadines which is an offshore region. It is owned by AM Globe Services Ltd and claims to be regulated by the Financial Services Authority on the Island. Forex trading goes on without proper regulation in this kind of location making it a choice base for scam companies.

Trading with a Forex broker that is unlicensed poses many dangers to traders’ funds. Misappropriated funds may not be recoverable by the government as well. Unlicensed brokerages are not under any rules of traders and this puts traders in more risk than they will be in if they had chosen properly licensed ones.

Advantages of AM Broker

Clients are promised the opportunity to earn anytime, anyhow, and anywhere. A bonus of 12% is fixed annually along with a 25% bonus at deposits. $2000 is also offered per introduced client. Trading instruments are numerous and impressive.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

AM Broker Trading Platform

AMBroker offers traders access to the MT5 trading platform. We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating systems. All can be used on desktops, Linus, Windows, iOS, and Android.

Tools that come with these trading platforms are also found to be useful for traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily.

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Trading instruments offered to traders are forex currency pairs, stocks, indices, commodities, and cryptocurrencies. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

The maximum leverage offered to clients is 1:500 and while this may seem generous, it is not advisable. High leverages can lead to a huge loss of funds as well. Spreads start from 0.6 pips.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on AM Broker

The means of making deposits and withdrawals with this broker are not disclosed on the website. We are discouraged that e-wallets are not named because standard and legit brokers make deposits and withdrawals available via Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on.

The minimum deposit required to trade with the broker is $1000 and this is more than the average minimum among many known legit brokers. Withdrawal fees are not mentioned and this may be because they do not apply. However, we will appreciate it if this is stated.

The trading bonuses offered are also discouraging as many scam brokers use this tactic to hold down withdrawals with unrealistic trading bonuses.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is AM Broker Licensed?

No. AM Broker is not a properly licensed and registered broker. Even if anyone comes across a mention of licensing from this firm, so long as it is based in the offshore location, it is not likely to be a trustworthy one.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

To get in touch with the broker or its customer services, dial +44 20 36 704 699.

Conclusion

The broker is not a properly licensed broker and is thus rated low by us. The trading conditions stated are impressive. It supports a MetaTrader platform and gives some impressive trading instruments. Trading bonuses are offered with probably suspicious withdrawal conditions.

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Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

AM Broker Review – is ambroker.com scam or good forex broker?

Trading Accounts and Conditions

Trading account Min. deposit Max. leverage Spread*
Retail $1 000 1:500 from 0.6 pips
Professional $10 000 1:500 N/A
Institutional $100 000 1:500 N/A

*As announced on the broker’s website.

Clients of AM Broker are offered the account types listed above and trading on the MetaTrader5 platform. Apart from their account types and trading conditions, we have serious concerns about this broker and don’t recommend it. Nonetheless, we will start off with a few possible benefits of AM Broker, as we always strive to be objective.

Keep in mind that this broker’s services are not available for citizens of certain regions, such as Japan, The United States of America, Canada, EU, and New Zealand.

AM Broker Advantages

Seemingly good trading conditions

It seems that the trading conditions offered by AM Broker are overall attractive. The maximum leverage provided to clients reaches 1:500, so even the most aggressive traders will be well-suited. That being said, note that using high leverage is not recommended for all traders, as it increases significantly the risk of loss.

Besides, the spreads announced on AM Broker’s website seem low, starting from 0.6 pips for the EUR/USD pair. Keep in mind, however, that the cost of trading is not as important as the security of your funds. Below, you may check out the real time spreads of some reliable forex brokers.

Access to the MT5

AM Broker may not score highly in our review, but the platform they offer isn’t one of them. The MetaTrader5 (MT5), along with the MT4 is among the finest trading solutions on the market.

The MT5 has Intuitive trading interface, top-notch charting, supports automated trading via Expert Advisors, and on top of that allows trading in exchange-traded stocks.

Wide range of tradeable assets

Another supposed benefit of using AM Broker is the its extensive product portfolio, which includes many currency pairs and a wide variety of CFDs – on indies, stocks, commodities, ETFs and the most popular cryptocurrencies. This allows investors to diversify their portfolios and helps for risk management.

AM Broker Disadvantages

No legit license

According to the information on its website, AM Broker is a brand operated by AM Globe Services Ltd. – a company registered in St. Vincent and the Grenadines (SVG), and registered by the local Financial Services Authority (FSA). The broker’s website also features the name of another firm – AM Broker Global Research and Analysis, allegedly based in Sofia, Bulgaria.

Actually, the FSA in the SVG has explicitly stated that it does not issue licenses to financial services providers, nor does oversee their activities. So, brokers registered I this offshore zone are not regulated. With no regulatory oversight we can’t be certain about the company behind the operation and whether it will fulfill its obligation towards clients. Therefore, we advise our readers to avoid offshore and/or unregulated brokers as a general rule.

Could not open a demo account

We could not test AM Broker’s services for free, as its services are not which is always a worrisome sigh. All decent brokers offer demo accounts with “paper” money, so that everyone can try out their platforms.

High initial deposit

Last but not least, in order to open a real account with AM Broker, traders have to invest at least $1 000, which is ten times higher than the average in the sector. In other words, the amount most brokers would ask you with to start with is $100, including well-established and licensed ones.

Conclusion

AM Broker’s offer seems to have certain strong sides, however, they are outweighed by the broker’s lack of financial regulation and credibility. Clients of a brokerage operating without a legit license are open to substantial risk, and have no authority to turn to in case they have legitimate complaints.

As usual, our best advice to investors is to do business only with duly regulated brokers, licensed by trustworthy authorities. Speaking of reputable regulators, one of the most prominent ones is the Financial Conduct Authority in the UK.

Let’s sum up our review of AM broker in a few words:

Pros Cons
Seemingly good trading conditions No financial regulation
Access to the MT5 Could not open a demo
Wide range of tradeable assets High initial deposit
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

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