Minimum Deposit: $0
Maximum Leverage: 1:1000
My Score: 2.6
Hello guys! In this article, I am going to handle Amegafx. According to the website of the broker, amegafx.com, the company behind the broker is Amega Ltd.
Amega Ltd is located in Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH96960.
Amegafx does not provide its services to traders from European Union countries, USA, Australia, Canada, Japan, and may not render services to traders of some other countries.
In this Amegafx review, you can find all the answers to these questions: Is Amegafx scam or good forex broker? What are the account types of the broker? What are the trading conditions such as spreads, leverage, and minimum deposit? Is there Amegafx no deposit bonus? Is Amegafx regulated?
Regulation of Amegafx
The website of the broker claims that Amegafx registered by the Office of the Registrar of Corporations, Republic of the Marshall Islands.
As you can see, Amegafx is an offshore forex broker and not regulated by any regulator. It means you should be away from this broker.
As many brokers who service offshore zones, generally don’t have any regulation and if you choose to invest in such a company, you might just lose your money.
Because of this, I always recommend you to trade with reliable brokers who are regulated by reputable watchdogs such as the UK’s FCA, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC).
Both FCA and CySEC require licensed brokers to hold at least €730 000 as proof of financial stability and to keep client funds must be held in segregated accounts.
Also, they require regulated companies to report to the commission on a regularly. However, ASIC requires licensed brokers to hold at least $1M.
Account Types and Spreads
Amegafx offers its clients various account types. These are ECN, Premium, Scalper, Mini, and PAMM. There is also a swap-free (Islamic) account type for Muslim traders.
There is no minimum deposit for account types except PAMM account. Minimum deposit for PAMM account is just $10.
ECN account’ spreads are floating from 0 pips. Maximum leverage for this account type is 1:100. There is a fee from 0.001% ($1 per lot.)
Premium account type offers floating spreads from 0.5 pips. Maximum leverage is 1:1000 and this is quite high. There is no any fee.
PAMM account type’ spreads floating from 0.5 pips. Maximum leverage for this account type is 1:100 and the fee are not charged.
Amegafx provides the most popular trading platform MetaTrader 4 and its new version MetaTrader 5. MetaTrader 4 is still the most popular Forex trading platform in the world.
MT4 enables Amegafx’s traders to use a wide variety of trading advisors and a large number of indicators, as well as thousands of signals and strategies used by successful traders.
The new generation of MetaTrader 5 allows users to trade round the clock on several financial markets simultaneously. Use this all-in-one platform for trading in Contracts for Difference, metals, futures and forward contracts on Forex and CFD.
You can use these platforms on your desktop, Android or iOS devices.
You can trade with Amegafx on currency pairs, indices, metals, CFD, crypto, etc. Amegafx offers its clients 40 currency pairs for trade, along with CFDs on gold and silver.
I think the broker’s product portfolio rather limited, as popular trading instruments such as CFDs on indices and stocks are missing.
I think this feature is the best for Amegafx. Because the broker offers a wide range of deposit and withdrawal methods. These are credit card, bank wire transfer, WebMoney, Qiwi, Yandex.Money, Union Pay, Perfect Money, ePayments, Bitcoin, LiteCoin.
The broker claims that it offers more than 200 of the most popular payment systems in the world. In addition, the broker also accepts 16 cryptocurrencies (Bitcoin, Ethereum, Ripple, etc.).
Amegafx is an unregulated offshore forex broker. The broker’s website takes visitors from Russia mainly. It provides MT4 & MT5 trading platforms.
There are a few elements of this broker’s offering that seem attractive, such as the platform, the high leverage levels and payment options offered; also, the fact that there is no initial deposit required, nor commission fees.
However, the product portfolio is very limited and its services are not available in many countries, including the US, Australia, and all EU member states.
In a nutshell, although it has a few useful features that will make you trade with this broker, I recommend that you stay away from the broker because of its lack of regulation.