AmegaFX Review

AmegaFX Broker Review

REVIEWS

2020-03-31 19:25:00

amegafx broker review

Many points are alarming. AmegaFX is owned by an organization called 1XCorp N.V., which until 2017 was listed as 1XFOREX (it also owns the 1XBET bookmaker). The official website of the company looks presentable, but from a technical point of view it is clearly incomplete. The choice of language is done automatically - Russian or English.

The action of writing positive feedback about the AmegaFX broker on forums for certain bonuses also does not add trust to the broker.

 

Registration

Registration on the site is intuitive, takes a few minutes. SMS confirmation. Verification - by passport or a copy certified by a notary. In our case, it was enough to send a color photo of the passport. User identification after downloading documents does not take more than 12 hours.

 

Trading conditions

In the trading process, the company uses Instant Execution or Market Execution order execution systems, which depend on the type of account selected. Trade flow quotes are presented in five-digit terms. Set of trading accounts: Premium, Scalper, SwapFree, Mini, PAMM. There are no segregated accounts.

The company provides an extensive list of financial instruments in the foreign exchange and stock markets, metals and cryptocurrencies. Spreads floating or fixed from 0.01 lot. Leverage from 1:10 to 1: 1000.

Swaps are charged at 11:55 p.m. terminal time. Three times accrual - from Wednesday to Thursday. Charge on CDF - on Friday. There is no minimum deposit amount, the volume of trade orders is not limited. There is no limit on the number of trading accounts, except for the Promo trading account. Trading accounts are presented in various currencies (over 100). According to the company, customer transactions are withdrawn to liquidity providers, including CITIGroup, JPMorgan, BNPParibas, Goldman Sachs, NSBC.>

Confuses the fact that there is no specification for trading assets on the broker's website.

amegafx broker review

Trading interface

The company provides popular trading platforms: MetaTrader 4 and MetaTrader 5. The latter allows the selection of the “netting” or “hedging” option: the first allows trading with locking positions, the second allows increasing the volume of a transaction for one instrument. Since April 2019, the company has been providing a WEB terminal.

All transactions are quick, no slippage or requotes. For beginning traders, there is trading on demo accounts with the ability to copy transactions of other traders, as well as earnings through trust management (the service works in test mode). A complete list of PAMM accounts is available in your account.

 

Safety and scam protection

On the official website there is no information on the regulation of the company. Most likely, it is the lack of regulation that does not allow Amega to work in many countries, including the countries of the European Union, Australia, Canada, Japan and the United States.

 

Deposit and withdrawal of funds

The receipt of money occurs without delay, but in some cases - up to 5 working days. With increased customer activity on input-output operations, the company can apply commissions.

There are no commissions to replenish the deposit and withdraw funds from the personal account of the client. Transfer of client funds between accounts - also without commission.

80 types of input-output are used (although 140 is indicated on the website).

 

Promotions, bonuses and affiliate programs

The company provides many promotions and offers. For beginners - no deposit bonus Amegamania and Amega Boom. Bonus for new customers - 100% and deposit for replenishment in the amount of 50%. There is an affiliate program of level 4 AMEGA RS ($ 8 per 1 lot of attracted customers), AMEGA CPA (premium for a new customer - $ 100), AMEGA Level 2 (up to 20% of payments of an AMEGA CPA partner), AMEGA Level 3 (10% of the earnings of an AMEGA partner Level 2).

 

Support service

Round-the-clock support is announced in more than 30 languages - via Facebook, Twitter, online chat on the site, by e-mail and through the feedback form. We sent a request to tech support, it took 20 hours - no response received. Site chat does not work on weekends. As it turned out, the main communication with customers is through a company representative on the broker's forum. Definitely this fact is a negative point.

 

Conclusion

AmegaFX can hardly be called a "reliable broker." The lack of regulation and registration data (legal address, direct telephone contacts) on the official website raises concerns about scam. The desire to attract traders through no deposit bonuses and promotions also imposes a rather negative impression. There is no specification information for all tools.

From the positive: there is no minimum deposit size, a wide selection of input / output methods, an extensive list of trading accounts. We do not recommend this company as the main broker, however, you can experiment.

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Damian

Damian

Author

I have been trading Forex for more than 5 years, mostly with manual and automatic trading. I set up advisors for round-the-clock automated trading. I'm sure I can help to establish your trading skills....

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