AMarkets Broker Review For Africa In 2024

AMarkets Basics

🏛️ Based in	Limassol, Cyprus
⚖️ Regulation	FSA
💰 Minimum Deposit	$100
💳 Deposit Options	VISA, MasterCard, Bank Wire, Neteller, Skrill, WebMoney and FasaPay.
💳 Withdrawal Options	VISA, MasterCard, Bank Wire, Neteller, Skrill, WebMoney and FasaPay.
📌Open an account	Start Trading with AMarkets

Our Opinion About AMarkets

and has been providing forex trading services to clients in Africa for many years. They are registered in St Vincent and the Grenadines and hold an SVG licence. As such, they are a reliable online trading company, offering a secure platform, and a good level of client fund protection.

When it comes to their account offering, AMarkets has competitive pricing and transparent online trading conditions. They offer clients the choice of over 100+ trading instruments including forex, shares, indices, cryptos, and commodities. They also offer a good choice of trading accounts. There are four main account types – all of which come with tight spreads, high leverage, and fair trade execution. When it comes to technology, AMarkets has two of the top online trading platforms in the industry – the MetaTrader4 platform and the MetaTrader5 platform.

If you’re looking for more trading support, AMarkets could be a good choice. They have good forex bonuses, giving you the opportunity to increase your trading capital. They also have plenty of free trading resources including market news, technical analysis, and educational materials. If you’re looking for good customer service too, AMarkets has a great team who are ready to help.

Regulation And Safety

AMarkets is regulated by the FSA (Financial Services Authority) of Saint Vincent and the Grenadines. Although this means that AMarkets operates under less formal regulatory oversight than other brokers, it is still a reliable company and offers a safe trading environment. They have good security measures in place and offer a good level of client fund protection. As such, they are still a trustworthy forex broker and provide a reliable online trading service..

Fund Safety

AMarkets operates using a number of different client fund safety measures. For example, they store their clients’ funds in segregated accounts, separate from the own funds. This means that they are not able to use client money for business purposes. They also offer their clients negative balance protection, meaning that they do not allow their traders’ balances to fall below zero. This is especially important for new forex traders who may require more support, and more stringent client fund protection, especially while they are still learning how to trade.

Trading Awards

AMarkets is a well-known and well-respected forex broker. They have won several online trading awards including:

• Best Cryptocurrency Broker 2022 – FXDailyInfo
• Most Reliable Broker Indonesia 2022 – International Business Magazine
• Fastest growing Broker Indonesia 2021 – World Economic Magazine
• Best Value Broker Asia 2021 – Global Forex Awards

AMarkets: Legit Or Scam?

In our opinion, AMarkets is a good forex broker and offers legitimate online trading services. They have been operating in the forex industry for many years and have become increasingly popular among forex traders in Africa. With regards to security, they are registered with a well-known financial body and operate under strict client fund protection policies. With regards to products, they offer good account options and a large choice of trading instruments. They also have a nice selection of payment methods. In our opinion, they are a legit and reliable forex broker.

Trading Instruments

AMarkets offers a great range of trading instruments including forex, indices, commodities, metals, bonds, and cryptocurrencies.

• Forex: They offer a wide range of major, minor, and exotic currency pairs.
• Indices: They have a good choice of UK, US, European, and Asian indices.
• Commodities: They offer trading on oil, cocoa, soybean, sugar, wheat, and more.
• Stocks: They provide a great choice of stocks including Apple, Amazon, and Tesla.
• Bonds: They have CFD trading on BUND10Y and TNOTE.
• Metals: They give you access to copper, gold, aluminium, platinum, and zinc CFDs.
• Cryptocurrencies: They also have trading on Bitcoin, BitcoinCash, and Cardano CFDs.

AMarkets Trading Accounts

Type	Spreads	Min. Deposit	Max. Leverage	Commission
Crypto	From 1.3 pips	$0	1:100	$0
Standard	From 1.3 pips	$100	1:3000	$0
Fixed	From 3.0 pips	$100	1:3000	$2.5 per lot
ECN	From 0.0 pips	$200	1:3000	$0

Crypto Account

The Crypto Account is a nice option for crypto traders who want to specialise on this particular market. It has an average spread of 1.3 pips. It also has leverage of up to 1:100. There are 20+ cryptocurrencies available to choose from. And there is no minimum deposit on the AMarkets Crypto Account, so anyone can open an account. The base currencies are USD and EUR.

Standard Account

The Standard Account could be an interesting option for new forex traders. It has an average spread of 1.3 pips. It also has leverage of up to 1:3000. There are 40+ forex pairs available to choose from. There is a minimum deposit for this account, so you need to deposit $100 to start trading. The base currencies are USD and EUR.

Fixed Account

The Fixed Account could be a good option for experienced traders who are looking for low trading costs. It has fixed spreads that start from 3.0 pips. But are no commissions on forex trades. It also has a leverage of up to 1:3000. You can choose from 25+ currency pairs. There is a minimum deposit requirement for this account too, so you will need to add $100 to your account to get started. The base currencies are USD and EUR.

ECN Account

The ECN Account is available for experienced traders with more capital. It comes with 0.0 pips on forex trades. But there is still a small commission of $2.5 / €2.5 per 1 lot. It also has leverage of up to 1:3000. There is a good number of trading instruments. You can choose from their full range of 40+ forex pairs. The minimum deposit for this account is a bit higher at $200. The base currencies are USD and EUR.

PAMM Accounts

AMarkets does offer a managed account service. With the AMarkets PAMM accounts, you can invest in trading strategies executed by experienced account managers. This service can be very helpful for new forex traders in Africa, as it means they can benefit from a fully-managed investment portfolio, as well as live reporting and investment updates.

Swap-Free Accounts

AMarkets does have a number of swap-free trading accounts. You can select a swap-fee version of their trading accounts during the AMarkets account registration process.

AMarkets Registration – How To Open A Trading Account

As part of our AMarkets review, we tried out their account registration process. If you live in Africa, then you are eligible to open any of their trading accounts, provided you meet their minimum deposit requirements. The actual registration process is quite straightforward.

The first step is to go to their website, fill in the application form, and provide your preferred login details. This is so they can register you. The next step is to complete a short online trading test. This is so that they find how much you already know about forex trading, and decide if their services are suitable for you. The final step is to submit your documents, and choose your account type. This is so that they can check your identity and approve your account.

AMarkets Registration – How To Verify A Trading Account

As part of our AMarkets review, we also tried out their account verification process. To open a trading account you’ll need to provide a proof of ID and a proof of address. This is so that they can verify your identity and complete their mandatory checks.

The process is fairly straightforward. You can send them copies of your National ID card, Passport or Driving License. You can also provide copies of a utility bill or a bank statement registered in your name. After you have had your account verified and approved, you can deposit money and start trading.

AMarkets Bonuses

If you’re looking for a good deal, AMarkets usually has a few forex bonuses available. These bonuses typically include cashback offers and deposit bonuses. 

AMarkets Payment Methods

AMarkets has a fairly standard selection of payment methods. For example, you can deposit money using debit card, credit card, or wire transfer. In addition, AMarkets also accepts payments via e-wallets such as Neteller, Skrill, WebMoney and FasaPay. Their withdrawal methods are also fairly standard. You can take money of your account using any of those payment methods.

AMarkets Trading Platforms

AMarkets has both the MetaTrader 4 and MetaTrader5 trading platforms. These come in various different versions depending on whether you want to trade on your desktop, web browser, or mobile.

• MetaTrader4 (MT4) is very popular among new forex traders. It is easy to use and comes with built-in trading tools. With this platform, you can get access to many popular financial markets including forex, stocks, and indices. You can also access 4 order execution types, 30 technical indicators, and 23 analytical objects. This is more than enough for you to carry out market analysis and to start making forex trades.
• MetaTrader5 (MT5) is quite popular among more experienced traders. It has a simple design and many helpful features. With this platform, you can trade all sorts of instruments including forex, shares, and crypto. You can also trade with a better range of features including 6 order execution types, 38 indicators, and 37 analytical objects. As such, it has slightly more functions than the MetaTrader4 platform. However, both platforms are suitable for forex trading.

AMarkets Trading Tools

AMarkets has a nice selection of online trading tools. Their most popular one is a copy trading tool. It enables you to mimic other people’s trades and earn money in the same way as a more experienced forex trader. They also have a few other helpful trading resources including:

• Market News -Their market news includes many helpful updates and insights. It summarises key market trends and helps you identify new opportunities. It also covers many asset classes including forex, metals, and shares. As such, it makes analysing the markets and planning your weekly trades much easier.
• Technical Analysis – Their technical analysis includes more detailed price analysis. It covers lots of different markets including forex, metals, shares, and indices. As such, it makes creating strategies and managing trades much simpler.
• Economic Calendars – Their economic calendar helps you stay on top of economic events and political news. It covers all of the most important data releases from around the world, including GDP and inflation data. It also includes detailed information and forecasts of each data release. As such, it makes understanding market trends much easier.

AMarkets VPS Services

A VPS service is ideal for forex traders who want more stability and flexibility. This is because it enables you to trade with optimum technical conditions and consistent connectivity. You can use VPS services to run automated algorithmic strategies, including Expert Advisors, 24 hours a day 7 days a week, on a virtual machine. You can also use it to minimise the risk of system downtime due to unexpected power failures, Internet cuts, physical difficulties, and computer shutdowns.

Education And Research

AMarkets has a great range of educational materials, as well as a detailed trading guide. They also offer free market news and trade ideas. As such, they do their best to help traders learn about the forex market and to create successful trading plans.

AMarkets Trading Hours

AMarkets trading hours are in line with standard trading hours. You can open trades whenever the financial markets are open. Trading hours may vary on public holidays.

AMarkets Customer Support

AMarkets offer great customer support. You can contact them by email, Livechat, Telegram, WhatsApp, and telephone. Their assistants speak English, Turkish, Farsi, and Russian.

Our Verdict

AMarkets is a reputable forex broker and a good choice for forex traders in Africa. The company was founded in 2007 and is now an established service provider. They offer easy market access, a nice choice of instruments tools, and advanced trading platforms. They also offer a safe trading environment and robust client fund protection.

AMarkets values fair and transparent trading. When it comes to their trading products, they have clearly built their account offering around these values. They provide low-deposit trading accounts and competitive pricing to ensure all African traders can access the market. They also provide a wide range of trading tools and forex bonuses to ensure all African traders can access great trading opportunities.

AMarkets Forex Broker Review FAQ