AMarkets MT4/MT5 Platforms

0
21

AMarkets is the brand name of AMarkets Ltd, a company that is licensed by The Financial Services Authority (FSA) of Saint Vincent and the Grenadines under license number 22567 IBC 2015. AMarkets Ltd provides brokerage services in Latin America, Asia, and the Commonwealth of Independent States (CIS). The company was established in 2007 and is currently a member of the Financial Commission (FINACOM PLC LTD), which is an independent self-regulatory organization and external dispute resolution body specifically dedicated to Forex. However, the Financial Commission is not regulated by or registered with any body in any jurisdiction, so membership is only for prestige. Nevertheless, this Commission provides a Compensation Fund for up to EUR20,000 per trade case. Despite its offshore license, the company claims it holds client’s funds completely segregated in reliable global banks.

Clients have access to over 40 currency pairs, 7 metals, 11 commodities, 16 global indices, 140 shares of global companies and 12 cryptocurrencies. Spread depends on the platform used and account type. There is a comparative table on the webpage, and you can check the real-time values. The most used instruments have the following typical spreads: EUR/USD – 1.6 pips, Gold – USD0.33, Crude Oil – USD0.04, Apple Inc – USD0.04 and Bitcoin – USD1,600.

There are three types of accounts – Fixed, Standard and ECN. They differ in minimum deposit, maximum leverage allowed and instrument spreads. As the name of the “Fixed” account shows, currency pairs have a fixed spread. There is no commission, the leverage can be up to 1:1000 and the stop out level is 20%. The initial deposit is at least EUR/USD100. The “Standard” account requires EUR/USD 100 to open. There is no commission, the leverage can reach 1:1000 and the stop out level is 20%. Spreads are floating starting from 1.3 pips. There is a commission of EUR2.5/USD2.5 per lot traded in the ECN account, and you must invest at least USD200 to open it. Spreads are close to zero and the stop out level is 40%.

You can deposit by bank transfer, credit/debit card or Electronic Payment System such as Skrill, WebMoney, FasaPay and Neteller. The company covers all fees and commissions for deposits. However, there are withdrawal fees within 0.5%-2.5% of the amount.

Customers can trade through the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These are the most used terminals over the world that allow you to perform technical analysis and use expert advisors. MT4 provides 30 technical indicators, 9 timeframes and a strategy tester. The platform is available for PC, Mac, and mobile devices. MT5 provides 38 technical indicators, 21 timeframes, a built-in economic calendar, 6 types of pending orders and an updated strategy tester. The terminal is available for PC, Mac, iOS, and Android devices.

We could not find an explanation how the company executes client orders. Probably when you trade with MT5 terminal, you will see the orders in depth and the company will only connect your orders with those of the other party, using the Straight Through Processing (STP) model. Otherwise, the company will be the counterpart to all your deals and that means it acts as a market maker and does not transmit each client’s deal to its liquidity providers. It will benefit when clients lose, which leads to a conflict of interest. This is not clearly stated. The good thing is that you will be provided by the Negative Balance Protection. It is written that the company guarantees that involuntary close of positions (stop out) will not result in the negative balance of the client’s trading account. However, technically such events may occur. Should the execution of the stop out level result in negative equity on the client’s trading account, the company shall be obliged to compensate the client by bringing the account balance to zero. The Order Execution section shows all orders, including the stop loss orders, are subject to slippage and can be filled at the first available market price. In other words, they are not guaranteed.

Overall, this is an offshore-regulated company that offers the MT4 and MT5 platforms for online trading. There are three different accounts, and you can start trading by investing USD100.

LEAVE A REPLY