Looking like a perfect choice on one side and like a notorious scam on the other, we’ve decided to check what is wrong with the AmegaFX broker. Allegedly providing a reputable platform, low initial deposit, and a Demo account makes everything look trustworthy.
Until you notice unregulated leverage and offshore headquarters. Read our AmegaFX review and find out everything about this trading firm.
But before you continue reading this article, we encourage you to read our recently updated InstaForex, PrimeXBT and AlpsMarkets scam broker reviews. Without a doubt, it will save your money, nerves and time!
|Broker Status:||Offshore Scam Broker|
|Regulated by:||Unlicensed Company (No Regulation)|
|Operating Status:||Active Forex Trading Scam|
|Blacklisted as a Scam by:||N/A|
|Broker Owner:||Amega Markets LLC|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Online Trading Platforms:||MT4, MT5|
|AmegaFX Minimum Deposit:||$1|
|Deposit Bonus:||Up to 150%|
|Crypto Asset Trading:||Available (4 cryptos)|
|CFD Trading Option:||Yes, you can trade CFDs|
|Available Trading Instruments:||Forex (FX), Commodities, Indices, Shares, Cryptocurrencies|
|Free Demo Account:||Yes|
|Accepts US Clients:||US traders are not accepted|
|Global Fraud Protection Experts’ Verdict:||Don’t Invest in This Scam Broker!|
Is AmegaFX Safe And Regulated?
AmegaFX is a brand owned by Amega Markets LLC from Saint Vincent and the Grenadines. And here we come to the first issue in regards to the broker. SVG doesn’t have a financial regulator in its true meaning and often points out that it just registers companies on its territory.
It means that AmegaFX regulation should come from the FCA, ASIC, BaFin, or any other regulatory body in the country of service.
Questions About Amega Markets License
After reviewing Tier1 license providers, we’ve determined that Amega Markets is an unregulated trading company. This implies you are not entitled to a compensation fund, and if you have been scammed, getting your money back won’t be easy.
AmegaFX Trading Platform Review – Trading Software
What we certainly liked was seeing the AmegaFX trading platform offer. The broker listed both MT4 and MT5, meaning you will have reputable and safe software.
MetaTrader 4 Platform – MT4
MT4 is recognized as the most used software around the globe. Using it means you will gain lots of skills, along with the best offer of charts and indicators. It has a vast number of EAs and thousands of signals and strategies.
MetaTrader 5 Platform – MT5
Other than MT4, the company offers its successor, MT5 as well. It allows access to several markets simultaneously, with a large number of indicators.
Mobile Trading App – iOS & Android Trading
Both MT4 and MT5 are available for mobile devices, meaning that AmegaFX login is enabled via Android and iOS-based phones.
What Products Does AmegaFX Offer? – Trading Assets
Amega Markets forex brokerage has a very limited offer regarding trading assets, which we were surprised to see. This includes:
- 31 currency pairs
- 4 commodities
- 2 stocks and indices CFDs
- 4 cryptocurrencies
Again, highly disappointing. Also, the leverage is fixed to 1:1000 for all the account types, and it’s unregulated. Beware of the AmegaFX trading scam.
AmegaFX Trading Accounts – Account Types
There are 8 different AmegaFX account types:
- Premium MT5 – $1,000
- Standard MT5 – $1
- Standard MT4 – $1
- Scalper MT5 – $1
- Scalper MT4 – $1
- Swap-free MT5 – $1
- Mini MT5 – $1
- PAMM Premium MT5 – $1,000
As mentioned, the leverage for all of them is pre-determined to 1:1000, while AmegaFX’s minimum deposit is just $1. On the other hand, the AmegaFX bonus is 150%, which you should consider before accepting. There is no way anyone would give free money, so make sure to check terms and conditions.
Demo Account Service
AmegaFX Demo account provides access to testing the platform, and it’s available for all account types.
AmegaFX Affiliate & Partnership Programs
Amega Markets offers so-called affiliate and partnership programs for all its investors. If it sounds familiar, you may have heard of the MLM scheme or Ponzi. Allegedly, the company offers revenue share, a fixed bonus of $100 for bringing new customers, and a percentage from all sub-referrals that come out of your referrals.
Now, if it seems like a pyramid, it’s precisely because it is. Even if you ever get this bonus, which is highly unlikely, it will be from the money your friends and family paid to enter the scheme.
AmegaFX Deposit Bonus – Welcome Bonus Scam
The deposit bonus is just another way for scam firms such as AmegaFX to lure innocent clients. The broker offers up to 150% of the bonus for each deposit, while terms and conditions coming with such remain unknown by the time you submit a withdrawal request.
Only then will you hear that you need to actually reach some extremely high rollover and pay off the bonus, but because you haven’t, your withdrawal request cannot be processed. In other words, either you will pay more money to reach the rollover sooner or better give up.
Scammed By AmegaFX Broker? – Talk To Our Recovery Experts
If you fall victim to an AmegaFX trading scam, let us know. Our recovery experts at Global Fraud Protection will gladly hear your story and find the best money-back solution for your case. You should know that you are not alone.
Contact us via online chat, book free consultation, and let’s get your hard-earned money back.
Don’t Let the Scammers Go Away for Free!
What Is AmegaFX, And Should I Invest Money In It?
Simply put, AmegaFX is an online Forex and CFD trading provider without regulation.
What Is the AmegaFX Minimum Deposit?
Company requires only $1 as their initial deposit.
Can I Trade Cryptocurrencies And CFDs With AmegaFX Broker?
Four basic cryptocurrencies can be traded with the AmegaFX broker. Also, you can trade CFDs.