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Amega Review

Founded in 2018, Amega has changed its website which used to be and now its

Amegafx does not provide its services to traders from the USA, North Korea, and Iran. The broker may not render services to traders from some other countries.

The website of Amega is provided in different languages to make it easy for traders from any part of the world to see and understand quite easily without any hassles and in their mother tongue. These languages are English, Polish, Vietnamese, Portuguese, Thai, Arabic, Urdu, Indonesian, Malaysian, Spanish, French, Tagalog, Russian, Chinese and Indian.

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?

A broker without regulation in the wide vast market of forex trading is a deal breaker for any trader including myself since I always advocate for the importance of dealing with a regulated broker since regulation not only provides reliability and trust to the name of any broker but also it makes the traders sure that their funds are safe and their accounts are protected against any kind of financial crisis or loss.

A financial organization license makes sure to audit the performance of the broker, some even provide a compensation scheme for the traders in case of any dispute or fund issues. Some of those regulators stick with touch measurements to be met in case the license is to be obtained like ASIC in Australia and CySec in Cyprus, and FCA in the UK. So once their licenses are granted you’d automatically know the broker is one to be trusted and traded with.

Other licenses are easy to be obtained without any extreme measures for regulation acquiring.

Amega Global Ltd is an investment company authorized and regulated under the Financial Services Commission, Mauritius. Investment Dealer Licence: GB22200548.

The FSA of Mauritius isn’t the strictest of licenses to be obtained. As well as they don’t require Amega to have segregated accounts for the clients kept in highly prestigious banks. Generally, the broker needs to ensure the separation of the client’s funds away from the operational funds of the broker itself in order to guarantee more security to the money of the traders.

Even Though Amega claims to have segregated accounts for the clients, it’s still unclear how separated they are. with no compensation fund in place, I find it a bit tricky to give much trust to Amega.

The broker isn’t showing any account types on their website No information was given about the trading conditions. Amega only claims the spreads are low and that it can reach 0 pips yet no clear details about it.

The maximum leverage in trading forex and CFDs are not stated clearly, except for commodities trading that reaches 1:10. No data about the minimum deposit of the broker and no components about the features of any accounts.

Only when getting in touch with the client support then you can get some information which I find a big hassle for any trader looking for clear and fast information to be obtained without the need to get in touch with the client support.

2 account types seem to be offered by Amega which are live accounts and demo accounts. The live accounts have 2 categories

Live Pro account: You can trade with different instruments here. which all that’s mentioned under the features for this account type.

Live Pro+ account: suited for traders who wish to trade all the assets available Amega in addition to cryptocurrencies as well. The main point about this account type is that you can fund and withdraw from the account using cryptos.

The minimum deposit at the broker was said to be $20 yet that information was only acquired after talking with the client support and they don’t seem to be giving adequate information about the leverage offered of which account type has this minimum deposit.

A demo account is available for trials and risk free testing of the market that works best for new trades who wish to try out the market or test new techniques and statigies.

Amega is offering only one trading platform in addition to the presence of the Webtrader where you can use the platform on any web browser anywhere anytime without having to download any application on your phone or desktop.

MT5 is offered for trade with Amega where it offers superior depth or market and multi assets. The option where you can choose the execution mode. You can customize your screen using multiple chart options, and by adding external indicators and market applications to fully meet your needs.

My take on the trading platforms is only one option of the platforms is available while not having any other choice for clients to choose their preferred trading platform. While MT4 is the forex market’s basic and most preferred trading platform, it isn’t provided by the broker as an option of the platforms.

Different Types of trading tools are offered that include all the basic categories the trades need to add to their trading portfolio in case a need for hedging or risk distribution appeared.

Somehow the trading instruments don’t seem to be quite sufficient but let’s break them down to know more details about each of them.

Forex: majors, minors and exotics are available to trade with competitive trading conditions, where you can trade with EAs, robots or any strategy of your choice. Commission-free transactions with low spreads are provided. No Dealing Desk & STP Execution.

Stocks: here you can trade stocks of global brands of the world like Amazon, Google, Netflix and more. No commission is added and no limitations are added to trading options.

Indices: trading in the world’s largest companies with low spreads and zero trading fees. Indices represent a great way to diversify your portfolio.

Commodities: Corn, Wheat, Soybean, Cocoa, Cotton, Coffee and Sugar are examples of the available-for-trade commodities you can use to add variety to your trading account. No commissions are added on transactions and you can trade with a leverage of 1:10. Commodities give you the chance to guess the movement of the market and make a profit on going long or short positions based on how you think the market will move.

Metals: Gold, Silver, Palladium Platinum and other precious metals are present for trade in an easy and fast way with no trading fees added and low spreads. Precious metals are representing the safe haven for traders to diversify their trading accounts.

Energy: you can trade Oil and gas with flexible trading conditions. The volatility of the energy market represents a unique chance for traders to benefit from the rise and fall of the prices.

Amega offers various channels of funding and withdrawals where they follow the policy of no deposit fees where there is no commission fees applied on any of the payment methods.

They are e-wallet options like Perfect money Sticpay and Prompt pay and NlineNaira, in addition to local bank wire transfers.

The same channels offered for deposits are the same for withdrawals except there are commissions applied on the withdrawal methods that differ according to the channel used.

There is a commission of 1.5% on all types of local bank wire transfers except for African local cards or bank transfers and African mobile money in both channels has 2.5% as a commission.

The perfect money withdrawal commission is 1%. PromtPay withdrawal commission is 1.5%. and the commission applied for the e-wallet option Sticpay is2.5% +$0.30.

NlineNaira is a Nigerian e-wallet method for funding and withdrawals which is also provided by Amega to their clients in Nigeria. No deposit fees are applied using this channel for funding the account yet a withdrawal commission is applied of 1%.

Even though the broker is providing easy ways to fund and withdraw. Yet the most common and preferred ways of depositing which are credit and debit cards along with cryptocurrency funding means seem to be absent entirely from the broker’s database. Which is another great negative point for the broker when compared with other brokers in the market having all sorts of ways to deposit and withdraw funds anytime anywhere.

Since I always advocate for regulation and security obtained via licenses, and despite the broker being regulated – even though the regulation isn’t the strongest nor the strictest one- Amega’s website, which is the main source of information for the clients, doesn’t seem to be covering much information or details about the trading conditions nor their types. The information seems to be hazy and unclear and that is why the broker fell into the poor category of the forex broker.

Amega fx claims and promises so many, yet the physical proof of these claims seems to be going with the wind.

Even though the broker is providing MT5 as a trading platform, I don’t understand how MT4 isn’t provided as well, and it’s the most demanded and used trading platform in the forex market. Generally, any other forex broker provides MT5 along with MT4 since both are developed by the same company MetaQuotes and where MT5 is an upgraded advanced version of MT4.

The information covered on the broker’s website seems to be a bit hazy with no source of reliability.

2 account types are offered and a minimum deposit of $20 s claimed to be offered however which account that’s not mentioned on the broker’s website.

In a nutshell, even though the broker is having a regulation, account types arent clear not trading conditions. The website of the broker isn’t providing any information about he basic needs of the traders and so I’d recommend staying away from that broker.